From left: City & Country editor Rosalynn Poh, Wong, Siders, Foo and EdgeProp.my managing director and editor-in-chief Au Foong Yee
Foo Gee Jen
Managing director, CBRE | WTW
President of PEPS
As the annual value and volume of property transactions have been contracting since 2014, it is indeed a tall order for any investment in property during this period to enjoy decent capital appreciation.
However, there will always be a jewel in the crown for developers that are innovative and that offer the right products in this challenging market environment — when the going gets tough, the tough gets going.
This year’s winners — Horizon Hills in Iskandar Puteri by Gamuda Land and KU Suites in Kota Kemuning by Paramount Corp — have shown not only good capital appreciation but also strong sustaining value. Although the number of entries has dropped significantly, their quality showed that the developers are going the extra mile to meet the demands of increasingly discerning property buyers and investors, such as building sustainable developments by adopting green technology and balancing design aesthetic with comfortable living.
Datuk Siders Sittampalam
Managing director, PPC International Sdn Bhd
Immediate past president of PEPS
Congratulations to Gamuda Land for winning the award for the residential category with its Horizon Hills development in Iskandar Puteri and Paramount Corp for winning the merit award.
The property market is currently in a consolidation phase where capital appreciation is not evident. The objective of the award is to help consumers ascertain the development with the greatest value creation in terms of capital appreciation and concept.
However, the award is not all about capital appreciation; it is also about other qualitative attributes such as the emergence of lifestyle or design concept and the incorporation of technology. Winning the award elevates the credibility of the company and the visibility of its brand and products, which will lead to increased sales and value sustainability.
Director, VPC Alliance (KL) Sdn Bhd
Past president and current committee member of PEPS
It is really no surprise that Gamuda Land’s entry — Horizon Hills Phase 2C, 2-storey link houses — is the winner of The Edge Malaysia-PEPS Value Creation Award 2017.
The master plan of Horizon Hills emphasises sustainable management of natural lakes with the design to follow the natural gradient, vast open green spaces and low density of five units per acre.
Coupled with its good design, high ceilings, large built-ups, low maintenance fee and three-tier security system, this development is much sought after on the secondary market and has provided the highest capital appreciation.
The Edge Malaysia-PEPS Value Creation Excellence Award measures the capital appreciation of properties from the developer’s selling price to the resale price on the secondary market.
Horizon Hills Development’s Phase 2C (2-storey link house) in Iskandar Puteri, Johor, emerged the winner.
A merit award went to Paramount Property Development’s KU Suites at Kemuning Utama in Shah Alam, Selangor.
This award is a joint initiative of The Edge and the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) to recognise property developments that have rewarded their purchasers in terms of capital appreciation in an outstanding way.
The award is aimed at helping consumers find properties that have the greatest value creation in terms of capital appreciation and recognising the developer whose properties have achieved the highest value creation.
A) The average capital appreciation derived from the property developer’s selling price to the actual transacted price or deemed market value of any subsequent sale of five properties.
B) The average capital appreciation per year over a period of not more than five years, derived from the average capital appreciation as stated in the criteria above.
C) Qualitative attributes based on the occupancy rate, master planning and the sustainability of value.
Scores are tallied based on a weightage of 65% for criteria A, 15% for criteria B and 20% for criteria C. The five-member judging panel comprised three representatives from the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) and two from The Edge.