Crucial issues hindering wider implementation of IBS are the limited enforcement of IBS requirements as per the IBS Roadmap 2011-2015, a lack of IBS expertise in the market, the lure of cheap labour for construction in Malaysia, cash flow problems for contractors, and minimal economies of scale for smaller developers.
The naming a development or an area is an important part of building a brand. The right name for a project or an area could add to its prestige by creating the right associations in a prospective buyer's mind, leading to its property values trending upwards.
On the home front, the weaker ringgit did not spur the interest of foreign investors in Malaysian properties due to the unstable political situation here and wait-and-see attitude of the government on cooling measures imposed on foreign buyers.
The other winners of the second draw embarked on their trips to Melbourne, Australia; Nanning, China; Ho Chi Minh City, Vietnam; Singapore, and Langkawi.
8 Kia Peng is a high-end residential project that will be built on a 1.05-acre freehold parcel on Jalan Changkat Kia Peng, Kuala Lumpur.
Today, Desa ParkCity is a model of master-planned township development with a string of awards under its belt. It bagged another this year as one of the winners of The Edge Malaysia Property Development Excellence Award.
In 2005, UOA Development bought the parcel, which was once known as Kampung Kerinchi, and turned it into a landmark that many now see as a location for the upper-middle to high-income groups.