KUALA LUMPUR: The last few years have seen many unprecedented challenges for the real estate industry but there are silver linings amidst the dark clouds of uncertainties.
For property developer Platinum Victory Group, the challenging property landscape presented an opportunity to excel in what it does best - providing competitively-priced residential properties to Malaysia’s growing urban and middle-class.
“People still need a home, a roof over their heads and a safe haven with their loved ones. It is important to be able to roll out projects that meet the increasing needs and demands of those with lean budgets, but are looking to have a home in prime areas within the Klang Valley where they have ample access to work opportunities,” said Platinum Victory executive director Gan Yee Hin.
“We understand these market needs without compromising on the fundamentals of location, value for money, convenience and accessibility. These are evident with our properties, where we make the most of the space allotted for practical living,” he pointed out.
Platinum Victory has been committing its efforts to ensure Malaysians have access to affordable homes within the prime areas of Klang Valley while ensuring liveability for such homeowners.
Sold-out housing projects
Despite the challenging times, two of Platinum Victory’s projects, Platinum Arena Residences and PV9 Residences, were sold out in 2020.
Platinum Arena Residences, a 2.9-acre mixed-development with 728 units is located in the vibrant Old Klang Road neighbourhood. Pegged at an average price of RM617 per sq ft, the sports-themed service apartment project was built with an estimated gross development value (GDV) of RM421mil.
Setapak’s PV9 Residences was built with an estimated GDV of RM539mil. Based on the exciting concept of Light Rail, Light Footprint, Light Spirit, the project's prominence is its strategic location between Taman Melati LRT station and Tunku Abdul Rahman University College, while availing great connectivity to various urban amenities.
The 5.57-acre development has two key components. The first component has 953 units with built-ups from 1,000 sq ft to 1,300 sq ft, and a selling price from RM530,000.
The development also features 438 units of affordable housing under the Residensi Wilayah scheme, which is in line with the national housing agenda for first-time house buyers at RM300,000.
90% take-up rate
Platinum Victory’s three new residential property launches saw a good take-up rate of up to 90% and a conversion rate of 50%. These properties have a GDV of RM1.23bil.
The freehold Vista Sentul Residences, touted for its affordability, convenience, and liveability, is built on a 2.38-acre site with a GDV of RM308mil. The property’s unique dual-key feature allows owners to earn additional rental income while staying comfortably in their own place.
Making it a reality for Malaysians aged 21 and above to own a house in the city, Platinum Victory’s Vista Danau Kota Residensi Wilayah is another project which created a buzz.
Set within a 3.721-acre site, the single-block development in the prime locality of Setapak comprises 910 units at RM300,000 per unit.
Built to provide seamless access to urban amenities, Vista Danau Kota is within proximity to several amenities, such as Aeon Big, The Palette by Platinum Victory, healthcare amenities and education institutions.
Another key development that was launched in 2020 was MH Platinum 2 Residences, a 4.72-acre project in Setapak, as part of Platinum Victory’s strategic business collaboration. It draws its inspiration from East and West influences where courtyard dwellings have historically provided privacy. This development, in particular, provides residents with a natural retreat from thermal heat, the glare of the sun and bustling city life.
The high take-up rate generally reflected an uptrend industry-wide, driven by steady demand and supply for affordable housing among the country’s first-time house buyers.
Given the current pandemic situation, Gan said the conversion rate has been gradual since financiers and lenders had adopted a cautiously optimistic approach and imposed stringent loan criteria for housing loan facilities.
Maintaining its steady pace of rolling out projects almost every quarter, Platinum Victory is setting its sights to building more value-for-money and affordable homes in the Klang Valley.
These will include Vista Saujana, a low-density project with only 200 units and Vista Dedanau, which is set aside as housing for civil servants. Besides the affordable scheme, Platinum Victory will focus on competitively-priced lower density developments this year, such as Platinum Casa Danau, without compromising on fundamental elements such as location, convenience and accessibility.
In a bid to strengthen its position and lend its property expertise in the industry, Platinum Victory has been embarking on strategic partnerships collaborations.
This is following past successful collaborations that the company has achieved such as MH Platinum Residences.
The next collaborative initiatives that have taken flight is with Jakel Group for the development of J Satine – an exciting mixed development project located on a 12-acre site within Setapak.
It will encompass Residensi Wilayah and SoHo residential units, as well as commercial units.
Another anticipated key development set to open its doors in 2021 is The Ark by Platinum Victory, a uniquely modern 12-acre community-based hub nestled in the heart of Setapak. Served to be a promising addition to the existing catchment of 390,000 residents within the township, what’s special about the lifestyle hub is it being an original one-stop destination for home and design inspiration, the first of its kind industry collaboration.
The Ark by Platinum Victory will also feature the Key Moments Office, a centralised key collection centre by Platinum Victory.
It aims to redefine property handovers, where customers can collect their house keys upon project completion. Among offerings at The Ark by Platinum Victory include a slew of interior design and home improvement solutions.
Patrons will also be greeted with artisanal F&B outlets and a variety of special retail concept stores to enhance their lifestyle.
“The market for new homeownership especially among millennials, young families and new house buyers continues to grow steadily and drive demand for affordable housing here.
“As a property developer with a reputable track record, we want to continue to meet the demand for good quality homes in prime locations,” Gan said.