Thursday 28 Mar 2024
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This article first appeared in City & Country, The Edge Malaysia Weekly on December 20, 2021 - December 26, 2021

Judges’ remarks

Michael Kong

Founder, MacReal International Sdn Bhd

President of PEPS

This year’s winner of The Edge Malaysia-PEPS Value Creation Excellence Award goes to Residensi Era Novum by Eupe Bangsar South Development (JV) Sdn Bhd, while the Merit award winners are Parkland Residence @ Sungai Melaka and SkyLuxe On The Park Residences.

We find all three projects impressive in terms of design, creativity, practicality and being environmentally sustainable. They are aesthetically pleasing and, most importantly, value creating.

A lot of thought and planning has to be done to build and create a place that will be harmonious with its surroundings and blend into the landscape comfortably. The winning projects successfully achieved that and we believe they will do well in creating value in the long run.

Foo Gee Jen

Managing director, CBRE | WTW

Immediate past president of PEPS

The Edge Malaysia-PEPS Value Creation Excellence Award (VCA) identifies which properties achieved the best value creation based on capital appreciation, and recognises the achievements of the developers of these properties. After missing 2020 due to the Covid-19 pandemic, the VCA has returned to acknowledge the contributions of Malaysia’s developers to the economy and catering for homeowners’ needs.

Inevitably, the pandemic took a toll on our participants and, based on the smaller number of entries, our five-member judging panel selected three entries. Despite prices falling like tenpins, these projects demonstrated that quality, well-conceived products can still preserve value and register positive gains.

In the Non-Residential category, the award went to Residensi Era Novum in Kuala Lumpur, by Eupe Bangsar South Development (JV) Sdn Bhd, for its iconic architectural design and façade, among other strong attributes.

Worthy of meritorious mention, Parkland Residence @ Sungai Melaka by Parkland Residence Sdn Bhd created a new benchmark for high-rise living in Melaka. Another project that merits mention is SkyLuxe On The Park Residences in Bukit Jalil, Kuala Lumpur by Skyworld Development Sdn Bhd.

Congratulations to the winners!

Subramaniam Arumugam

Executive director, PA International Property Consultants Sdn Bhd

Vice-president of PEPS

Real estate has proved to be a good hedge against inflation. Apart from recurring rental income, capital appreciation has always been the key. The winners here have gained my admiration for coming out with such fine products that have upheld a formidable position in achieving both good rental yields and capital appreciation, especially against the backdrop of the current challenging times. Well done, winners!

non-Residential

Winner

Residensi Era Novum

Company: Eupe Bangsar South Development (JV) Sdn Bhd

Merit

Parkland Residence @ Sungai Melaka

Company: Parkland Residence Sdn Bhd

Merit

SkyLuxe On The Park Residences

Company: Skyworld Development Sdn Bhd

Methodology

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.

Judging criteria:

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 Media Group.

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