Platinum Victory will continue building better quality homes at competitive prices
For over 20 years, Platinum Victory Holdings Sdn Bhd has been building up its status as a reputable and conscientious property developer, delivering homes that is more than just design and functionality.
The property developer’s founders Datuk Seri Gan Yu Chai and Alex Tan, when they began the company 1997, were like-minded in ensuring that Platinum Victory’s homes would not damage homebuyers’ wallets or purses.
While it was a turbulent period as the nation and Asia suffer a major financial crisis, the fledging company’s first project, the 288-unit Pelangi Condominium took root and was completed in 2001. But it was the PV1 commercial shop lots’ success the following year that springboard Platinum Victory into prominence in Setapak.
The meticulous planning, which is now part of their DNA, has ensured the company’s success over the year and their dedication to do better shows with each new development. Over the first decade, it solidified its Platinum Hills masterplan, launching over 10 projects by 2010 including PV3, PV5, PV6, PV10, the Platinum Walk, PV12, PV7 and PV8.
By this time, these projects had provided more than 3,000 homes and shop lots with an estimated gross development value (GDV) of RM1bil demarcating Platinum Victory as one of the pioneer developers in Setapak.
Between 2011 and 2013, five more projects were delivered, namely PV128, PV13, PV2, PV15 and PV16, which had a combined GDV of over RM1bil. And this was not including the RM319mil PV20 in 2014.
A major name in Setapak
“We are recognised for our many high-rise developments, especially in Setapak. We are one of the developers who has played a major role in the blossoming of this area into the vibrant township it is today.
“Because of this, we have built a good reputation and strong level of trust among our buyers,” said Platinum Victory executive director Gan Yee Hin.
But 2012 also marked an important period for Platinum Victory as the developer ventured beyond the Setapak border with Platinum Suites @ The Face, Jalan Sultan Ismail, Kuala Lumpur, followed by Sensesasi Residences in Sentul and Lestari Residences along Jalan Gombak.
However, the developer stayed true to Setapak with two more launches - the RM434mil PV21 and the RM125mil MH Platinum Residences - the following year.
A new dawn
For Platinum Victory, the year 2017 was a brand new dawn for the developer as it marked their ascension up the ranks and their major branching out to other parts of the Klang Valley. It launched its Platinum Splendor Residensi Semarak, a 2000-unit high-rise with a GDV of RM886mil.
The following year it launched PV18, a 1,250-unit with a GDV of RM545mil, condominium to match the year 2018. Also launched were the RM455mil Platinum OUG Residences and the RM142mil Vista Wirajaya 1 Residensi Wilayah, an affordable scheme formerly under Rumah Wilayah Persekutuan (RUMAWIP) but has since been enhanced as Residensi Wilayah.
Gan said the company is pleased to work hand in hand with the government and its agencies in providing such affordable housing to the public in the city under the enhanced scheme. Such projects are for first-time homebuyers, as the price of each unit is fixed at RM300,000.
This collaboration proved successful as both parties again paired up for the RM104mil Vista Wirajaya 2 Residensi Wilayah in 2019. Last year also saw Platinum Victory launching Platinum Teratai Residences, comprising 800 units and a GDV of RM374mil, Platinum Arena Residences @ Old Klang Road, Kuala Lumpur (728 units, RM421mil) and PV9 Residenses (953 units, RM539mil).
The market slowdown and people’s stance to take a wait-and-see approach may prove to be an advantage for Platinum Victory, said Gan. This is because buyers will be able to see what they are buying as the projects start dominating the skyline. He added: “As people are more willing to purchase a property nearing completion, this certainly boosts the confidence of buyers and investors in our projects upfront.”
Reasonable vs affordable
While Platinum Victory is known as a builder of affordable homes, Gan cleared the air that in reality they are competitively priced properties. While the developer does construct affordable homes like the Residensi Wilayah projects, their mainstay is still reasonably priced.
While the government is pushing for more affordable homes, Gan said that it is still “good business” for those who cater to the middle income group’s “affordability” level. There is another advantage: While Platinum Victory’s projects are catering to the buyers who are in a similar bracket for government centric affordable homes, there is the compliance side that owners will have to adhere to.
“With Platinum Victory, we give you the best price that is not governed. This is what many of our buyers are looking for. We keep our pricing reasonable and listen to the market sentiments. That’s why we have done well,” he said.
And this is what Platinum Victory is doing with its latest projects, that is, providing value for-money facilities to suit its development and at a competitive price. Platinum Arena, for example, will be sports oriented given its proximity, adjacent to the Sports Arena Sentosa. The two blocks carry the names of world famous sportsmen.
One thing is certain, the property developer will maintain its stance to build such reasonably-priced properties that are within the budget of young families and first-time homebuyers. At the same time, Platinum Victory will study the market niche to offer better facilities and amenities, and still be competitively priced.