When the slowdown comes, only the right products will sell. IJM Land believes it has the right ones. In an article in StarbizWeek, its chief executive officer and managing director Datuk Soam Heng said, “During a property market slowdown, people may take longer to decide and it may be harder to obtain financing from the bank, but there will still be people who can afford to buy property.”
This is VERY true! To those who think current property slowdown is due to demand going down, think again. I think the current slowdown is simply due to the mismatch between what is available versus what is affordable to many. Of course it also includes the current prevailing negative sentiment which induced the many wait-and-see amongst the potential buyers as well. If I am in a wait-and-see attitude but one right property is launched, do I still wait? For me, if it is my first property and the right one comes along, I would buy instead of continuing to wait. The reason is because I do not believe there is such a thing as perfect property.
One of IJM Land’s main project is the 58-acre Pantai Sentral Park in Kuala Lumpur. This is a 99-year leasehold land to be developed over the next 10-15 years. The current plan is for seven residential phases and six commercial phases. Total GDV is expected to be RM2.5 Billion. Upcoming launch would be the Secoya Residence. It is aimed at those with a household income of RM10,000 or above. The typical price per sq ft (psf) is RM730 – RM750. Accessibility into Pantain Sentral Park will be enhanced with a link road from the New Pantai Expressway into the KL-Seremban Highway. This will be built by IJM at a cost of RM50 million.
It’s always a plus point to buy from a very established developer who is able to also ensure connectivity. I think IJM Land is one of them. Building roads is one of their expertise too. As for Secoya Residences I think a very comprehensive marketing promotion would have to be done. These units are unlikely to sell by themselves because this is not yet the usual hotspots loved by many. Oh yeah, I am not one of those who love hotspots. 🙂 Happy buying one if you are those above RM10,000 households that they are aiming at.
written on 22 Feb 2015
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