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They are the next generation of Malaysian developers. Culled from both public-listed and privately owned companies, they have come together to exchange ideas and to draw experience from their mentors.This informal grouping, known simply as Rehda Youth, is hosted by the Federal Territory Kuala Lumpur branch of the Real Estate and Housing Developers Association Malaysia (Rehda).
The organisation and the development of the new wing is still very much a work in progress, Rehda Malaysia President Datuk Michael Yam tells City & Country. Even the name “Rehda Youth” is not final. The idea is to open it to all young developers aged below 40 in Malaysia, be they second-generation property developers or new industry players.
Lest one thinks this is a social networking outfit, Yam states: “It is definitely not a social platform but a training ground for the younger members of Rehda. We aim to nurture the younger generation, who will be industry leaders and captains of the industry in the future, to be development professionals.” In short, a succession plan of sorts.
Interestingly, Rehda Youth has generated sufficient interest to see its “members” meeting up several times already. The inaugural meeting, held at the trendy Vineria in upmarket Bangsar back in April, saw a turnout of some 20 young developers.
In the forefront and at the helm is Chan Kin Meng, the eldest among the three sons of Tan Sri Chan Sau Lai, whose family owns Beneton Properties Sdn Bhd. Kin Meng is executive director of Beneton Properties, which is currently involved in four projects — the freehold VIVA on Jalan Ipoh, a high-rise condominium project on Jalan Penaga in Bangsar that follows its previous project Bangsar Peak, a residential project on King’s Road in London, and a residential project in Selangor’s Kota Damansara. One of Beneton Properties’ earlier projects would be the low-density condominium Stonor Park, in the Kuala Lumpur City Centre.
Completed in 2006, the freehold two-block condominium project offers 71 units, sized from 2,000 sq ft to 8,000 sq ft. It was launched in 2003 at RM500 psf.
Kin Meng says: “The first meeting was more of a networking session as well as to introduce the new association. It attracted more than 20 property developers from mostly private companies, whose families are the principal drivers of their respective companies.”
Another active promoter is Sam Tan, son of Ken Holdings Bhd’s chairman and managing director Kenny Tan. Sam is executive director of Ken Holdings, a construction outfit turned developer in the Klang Valley.
Ken Holdings’s latest completed project — Ken Bangsar — is Malaysia’s first to obtain Singapore’s Building & Construction Authority’s (BCA) Green Mark Gold Plus certification. The company is currently developing Ken Rimba in Shah Alam, which has been touted as the country’s first green township.
Others at the inaugural meeting were Benjamin Teh (son of Teh Boon Ghee, head of property development IGB Corp Bhd, the developer of Mid Valley Megamall and The Gardens Mall in Kuala Lumpur); Tan & Tan Developments Bhd’s Tan Yee Seng; James Tan (son of Sunny Tan, MD of Suntrack Development Sdn Bhd which recently launched a 23-acre freehold project with a gross development value of RM115 million, in Cyberjaya); Ive Lau (daughter of Multi-Purpose Holdings Bhd’s managing director Datuk Surin Upatkoon); Urban Hallmark Properties Sdn Bhd managing director Datuk Jeffrey Ng’s daughter Leonie Ng; DC&A Group Sdn Bhd’s Chua Hung Tatt; Karyon Industries Bhd’s Jeremy Loh; Kota Kelang Development Sdn Bhd’s Ng Choon Jin and Ng Choon Keith (both sons of Rehda Malaysia immediate past president Datuk Ng Sieng Liong); PJ Development Holdings’ Ong Ju Xing; TanCo Holdings Bhd’s Andrew Tan and Benjamin Tan (both sons of Datuk Tan Jing Nam); and Stuart Low (son of CRSC Property Sdn Bhd chairman Datuk Lawrence Low).
Kin Meng has been a Rehda member for the last five years and is currently the KL branch committee member and chairman for the professional development and the academic sub-committees for Rehda KL.
The overwhelming response to the first Rehda Youth meeting was beyond his expectations as it was only through word of mouth. Several meetings have since followed alongside site visits to members’ projects.
“The purpose of Rehda Youth will be formalised soon and it might be the shadow organisation to Rehda. Members will be exposed to industry matters and experiences besides being involved in Rehda events such as forums and discussions with the government on issues such as green buildings.
“I have been through the learning process when I first got involved in this industry. I have also met others in the same situation as me over the years and it is nice to have a big brother [Rehda Malaysia] that can help you,” the 33-year-old tells City & Country.
Vision
The youth group intends to foster among its members a greater awareness of the issues and concerns faced in the property development industry in Malaysia. It also encourages networking and the broadening of horizons through knowledge sharing and exposure, says Yam.
The idea of setting up a youth wing first came to Yam when he was serving as Rehda KL’s chairman from 2008 to 2010. The idea may now be elevated to national level with Yam being elected president of Rehda Malaysia in June.
The setting up of Rehda Youth was supported by the current chairman of Rehda KL, NK Tong, as well as the branch committee members.
“In a lot of organisations worldwide, ageing leadership is a problem unless you do something about it … so we started Rehda Youth. Since Kin Meng has already been taking part in Rehda activities all this while and I saw his eagerness, I asked him to take up the challenge and initiate the first gathering,” recalls Yam who is also the chief executive and managing director of Impetus Partnership Sdn Bhd.
Conscious of a need for a succession plan, Yam came up with goals and objectives for the youths based on the word “DEVELOPER” . He sees it as an acronym for Developing youths, Experiential, Vision, Entrepreneurship, Leadership, Opportunity, Positioning, Engage and Reality check — a set of guidelines to groom the younger generation.
“We want to give them the experiential learning of what property development entails if they want to succeed. For entrepreneurship, when you are born with a silver spoon, I think some may lose the entrepreneurial spirit. I don’t know how we are going to achieve that yet, but we will give them the right exposure and broaden their horizons,” Yam says.
“We also help the younger ones to position themselves as a shadow organisation to Rehda Malaysia, just like a shadow cabinet. We wish them to engage with the people or consumers and share their experience. Reality checks will put the young people’s feet on the ground and let them know that life is not easy,” he adds.
Unlike the usual Rehda meetings, the Rehda Youth meetings, as Yam describes it, are rather casual meetings tailored to suit the younger generation. Speaking to City & Country at a separate interview, Ken Holdings’ Tan says the establishment of Rehda Youth provides a platform for the younger members to share ideas, knowledge and expertise which may benefit their peers.
“It is a very progressive move and it is good to get new and younger developers to move the industry. It can help the industry to develop and when everybody comes together to share, the industry will benefit and reach greater heights. There will be more input and we can learn from each other and avoid making the same mistakes others may have made. Most important of all, we don’t see each other as competitors but as allies in seeking to know the market better,” he adds.
The younger generation
Rehda, points out Yam, has evolved from a developer-centric, closed club to a more sophisticated organisation that requires a multitude of skills and experiences as it faces scrutiny from the government and challenges from customers who have varied expectations on quality. It also has yet to fully develop its supply chain.
He has lined out a set of “keys” for the further growth and development of the organisation. The keys are to be responsive (responding to customers’ complaints or government policy efficiently), respected (by from the government, the media and peers), responsible (as a responsible developer), and relevant (to continue to be relevant and advocate new things) going forward.
Plans are afoot to draw up guidelines for its members based on these four keys. The organisation now has about 1,000 members or some 80% of the property developers in the country. As a group they provide employment for some one million workers.
Who would say bricks and mortar make for a boring business now?
This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 823, Sep 13-19, 2010
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