CHRISTOPHER LIM

CEO, Triterra Metropolis Sdn Bhd

Over the years, a burst in the property market has been consistenty speculated. Do you think it will happen even as the market continues to soften?

For a ‘burst’ to happen, there first has to be a bubble, and not everyone agrees that this is indeed the reality of the Malaysian property market. To make any sort of meaningful analysis, we must first segmentise the market instead of addressing it in a sweeping fashion under one umbrella. Malaysia has grown by leaps and bounds in recent decades, and it is time for the property market to be divided into zones, especially considering that each region in the country has so much potential and all in different forms. Although I can understand that a holistic outlook is tempting for many, we have to break the trend of generalising the market for such a diverse economy, and asses the market for each state in Malaysia separately.

What do you think 2018 will bring for the local property market?

We are experiencing a confidence deficit period, which is actually good for discerning investors as it will remain stable and offer good bargains. Overall, I think this is a good situation as we would not want an artificially inflated market. Of course, the highlight for us will be the post-election period as that will provide greater certainty for the next five years in political stability, but the main issue is mismatched properties in terms of concept and sizing.

However, I personally see opportunities for the Malaysian real estate market. Since 2010, our nation has adopted a new economic model, focusing on increasing the participation of small and medium enterprises (SME) and service industries as the backbone of the new economy that will, in turn, result in higher salaries and put us on level with the developed world. With this, I believe the Malaysian real estate will finally catch up in pricing, and we will see a healthy and sustainable real estate market, especially in the Klang Valley.

As Klang Valley tends to be the main point of interest for most buyers and investors in local property, what potential do you see for the region?

Klang Valley is not only experiencing a migration boom locally but is also benefitting from the growing ASEAN region. A healthy population increment is fundamental to stabilising the property market and we can certainly see this in the Klang Valley. The right fundamentals are there, with a growing young population, booming infrastructure and favourable government policies to attract foreign participation in our economy. As the economy and property market grows, naturally some regions within the Klang Valley market will be oversupplied. With the entry of new players into the property market, we are also seeing more developments that are mismatched in concept and pricing. Over time, however, I believe the market will correct itself and this is where savvy developers and investors, who understand the impact of a finely tuned balance of location, concept and pricing, will continue to prosper. I am cautiously optimistic that we are in for another property run, provided the concept and pricing match the location.

What can we expect from Triterra in the years to come?

I am very excited to see Triterra playing a part in shaping the real estate landscape, and also in terms of setting future trends for the corporate office sector and beyond. We pride ourselves as the people’s developer, striving to build through the lens of our investors. With a three-generation set-up, we believe we have the credentials to deliver developments that will positively impact the real estate landscape. Blessed with a dream line-up led by industry stalwarts Datuk Seri Michael Yam, Dato’ Wira Lim Teong Kiat and Dato’ Lim Say Chong, this stewardship pillar is the foundation that the company is built on. Drawing on their illustrious legacy, my brother and Deputy Chairman Daniel Lim leads Triterra as a next generation developer by bridging the three generations to take us into a future laden with possibilities. Then, the third generation is a forwardthinking and innovative execution team, which includes General Manager Lim Yu Siang and COO Shaun Mok. You will soon bear witness to Triterra’s planned and steady growth by careful selection of developments focused on our end-users, and building a credible and reliable brand.