What would you say are the USPs (unique selling points) for both projects? For Mont Kiara, it is located in the middle of a fully-developed community area. It is an area that appeals to a broad spectrum of buyers. It is low density, with 813 units spread over ten acres with 6.2 acres of large green facilities. The development also boasts a multi-tiered design. Buyers have the option of having either a low-rise or high-rise experience with fantastic views of the palace or KL, with no obstructions.
The appeal of Bukit Bintang is, first and foremost, the location. It is within walking distance of everything, including commercial areas, shopping malls, golf course, hospitals and the TRX. It is also a stone's throw away from the nearest MRT station.
We noticed that both projects are predominantly skewed towards the luxury segment. Is that the direction Agile Property is taking here? When we first arrived here, we focused on servicing the luxury and niche market. This is the reason we chose Mont Kiara and the KL City Centre. For our upcoming projects, in the long term we are going to look at the local market segment. We have identified a long-term development plan, which will be out of central KL. We are working on that at the moment.
Are you aiming to replicate Agile Property's success in China here? In terms of products, I'll be frank and admit it will be very hard, largely due to the diverse background and business portfolio that we have. I would say though that our main priority, like in China, is to ensure attentiveness to buyers. We own a public listed company in property management, which manages over 400 projects there, covering millions of home buyers.
This is a concept that we want to bring to Malaysia. We want to work closely with our buyers on the post vacant possession experience. When they move to our properties, we still maintain close contact with them, ensuring their daily conveniences and lifestyle needs are taken care of.
Is this how Agile Property is aiming to elevate the ownership experience here? This is one of them. We are also looking to bring a new concept into our third project, which will be launching sometime in the third quarter of this year. We want to introduce an experiential hall whereby buyers can experience and get an idea of what they are going to get in the future. Not just from a well-designed ID perspective, but more of a technology-based 3D experience when they step into our showroom.
Here, they can not only get a feel of the property but also do a walk-through of the development and the units they have picked.
Do you think the property market has changed significantly over the years? I won't say it's different, but the market has definitely seen some elevation from the needs and wants of consumers. Ultimately though, it is not that much different from when our parents bought houses, 20 to 30 years ago. To be successful, one must never ignore the basics, which are essentially attentiveness and after sales service.
Back then, the market wasn't as competitive as it is now, especially with buyers growing more discerning - they want that relationship and care. If they buy a property from you now, they would likely remember you in five years when they're planning their next investment. Primarily, we want to build that brand loyalty and relationship with our customers.
Are you confident of the opportunities for growth here? To be frank, we've been in the China market for the last 25 years. We are experienced there but these are new grounds. When we set out here, we targeted an accumulative GDV of RM10 billion in the next 3 years. To date, we have already reached half of that initial target.
Moving forward, we will still work very hard, look to acquire more land bank but also approach the market cautiously. There are opportunities to grow for sure, which is why we will not forgo this market. I would say that in our pipeline, we will look at other countries and markets to go into but the Malaysian market is our decisive first step. We have set up a good platform and base here with a strong team. We aim to utilise this and the resources that we have to go into overseas markets.