THE MALAYSIAN RESERVE. 7TH FEBRUARY: A key focus will be the amplification of the company’s digitalisation efforts as the Covid-19 pandemic has changed people’s needs, says COO
BOUSTEAD Properties Bhd plans to build affordable homes and properties that incorporate sustainable and environmentally friendly values underpinned by technological solutions in response to market demand.
The company will introduce a new in-house digital and technology services unit which will be responsible for implementing group-wide solutions to enhance operational efficiency, transform products and services, elevate customer experience and empower its employees.
Boustead Properties COO Eason Phan said a key focus for the company in 2022 will be the amplification of the company’s digitalisation efforts as the Covid-19 pandemic has changed people’s needs while the business ecosystem has evolved.
He said as part of Boustead Properties’ reinvention strategy, digitalization of core areas of business including property development and management, sales and marketing as well as customer engagement and retention, will be rolled out in stages.
“In terms of our mediumto long-term growth, we will emphasise strategic sustainable plans that can positively contribute towards the National Fourth Industrial Revolution, MyDigital (Malaysia Digital Economy Blueprint) (including 5G rollout), affordable housing, education and climate change.
“By doing so, Boustead Properties will also be able to achieve our own sustainability goals as envisioned under the global United Nations Sustainable Development Goals,” he told The Malaysian Reserve.
Boustead Properties is open to exploring opportunities for the acquisition of prime land, especially in the Greater Kuala Lumpur area, Selangor, Johor and even Penang, that are in line with its overall plans to develop sustainably and deliver value to stakeholders.
Controlled by Boustead Holdings Bhd, Boustead Properties current landbank size is 566.56ha (1,400 acres) comprising parcels of land in the centre of Kuala Lumpur and larger parcels in Selangor and Johor.
In 2021, Boustead Properties started the revitalisation of its corporate brand identity in line with the Boustead Group’s Reinventing Boustead strategy. Not only will this be an ongoing journey of transformation in 2022 but it will continue to help the group to evolve further in the years to come, according to Phan.
With the “home” now representing multiple aspects for the family and individual, Boustead Properties’ primary focus now is on meeting the different needs under one roof in a smarter, more functional and affordable manner.
According to Phan, with the environment and sustainability needs of cities and towns rising in importance, eco-friendly habitats, where technologies are used to enhance quality of life, are now more integral than ever.
With that in mind, he stated Boustead Properties is launching more products in its newest freehold smart, low-density and integrated Mutiara Hills township located in Semenyih, Selangor, in 2022.
Mutiara Hills’ Balau Homes Phase 1A1 was successfully rolled out at the end of 2020.
“In January (2022), Balau Homes Phase 1A2 was soft-launched and received excellent response from the market. We expect to launch more double storey linked houses and shop lots this year to a similarly enthusiastic market response,” Phan said.
The price of Balau Homes starts from RM469,650 (Bumiputera price) and the project is targeted at first time homebuyers.
Phan said the ongoing Mutiara Hills development will be a testament to how Boustead Properties implements environment, social and governance principles in creating a sustainable real estate development.
The township received its provisional Green-RE certification in 2021 and the company plans to explore and harness various sources of renewable energy to achieve a near zero carbon development, with smart mobility, efficient water management system and other environment-friendly features to promote liveability, said Phan.
As for Taman Mutiara Rini, which was Boustead Properties’ very first township project located in Skudai, Johor, the company will start developing new residential and commercial lots this year.
“The development of this township is also premised on a similar liveable ecosystem to promote well-being and harmonious living. Moving forward, our focus will continue to be on providing affordable and quality homes that are premised on sustainable design and raising living standards for diverse communities in Malaysia.” he said.
Boustead Properties is cautiously optimistic about the outlook for the local property market given the economy continues to reopen and recover, coupled with commendable industry initiatives and government policies.
Phan said the government’s allocation of RM2 billion from 2022 to banks under the Housing Credit Guarantee Scheme will be a boon to assist those without a steady income, such as gig economy workers and micro-entrepreneurs, to purchase homes.
“The removal of real property gain tax from the sixth year onwards starting this year, which is a significant and much-welcomed move, is further expected to have a positive impact on homeowners, particularly those who may want to upgrade from their current homes.
“We also see improved prospects for the Johor property market once the Malaysia-Singapore border completely reopens as this will help boost the takeup rate for our Johor property project,” Phan said.