ENCORP Bhd, the developer of Encorp Strand, lives by its tenet of always selling concepts and superior value to customers and it is an approach that has won Encorp Strand the inaugural The Edge-PEPS Value Creation Excellence Award 2010 for non-residential development.
Encorp Bhd executive chairman Datuk Seri Mohd Effendi Norwawi credits the company’s success to his team, led by group CEO Yeoh Soo Ann.
“This award is a recognition of Yeoh and his team, and their passion for this development,” said Effendi.
Covering 46.5 acres in Kota Damansara, Selangor, the RM1.3 billion integrated development comprises Strand Business Suites (3½ and four-storey shop offices), Garden Office (office blocks), Red Carpet Boulevard, a mall and serviced apartments.
The Strand Business Suites were launched in 2005 at an average RM243psf. These units can now command up to RM400 psf, a capital appreciation of between 45% and 100% in just five years.
Encorp’s award submission showed investors enjoy an average capital appreciation of 66.73% over an average period of 2.79 years.
According to Effendi, Encorp is in the business of “making our customers happy”, adding that value creation and appreciation do not happen by accident.
“We know that the formula to exceeding our customers’ expectations is to have a good design concept, strong and efficient execution of an implementation plan that is backed by the right systems and processes to deliver our products,” shared Effendi.
Yeoh added that at the end of the day, it is about delivering what was promised to the customers.
“It is not just about selling a product, the concept is equally important to value creation and that is the key to our success,” said Yeoh.
Effendi is aware that being a relatively new developer, it would be difficult for Encorp to match the bigger players in terms of landbank and turnover.
“But, we can match them in terms of quality in value and service. That is what we are going to focus on and I believe this award is a product of that philosophy,” he said.
The Edge-PEPS Value Creation Excellence Award 2010 was created to help consumers identify the properties with the greatest value creation in terms of capital appreciation as well as its sustaining value. The awards also seek to recognise the developers that make value creation a key point of their developments.
This article appeared on the The Edge Property Excellence Awards 2010 page, The Edge Financial Daily, October 11, 2010.