Versatility and Luxury Living

With its solid portfolio of high-rise residential and commercial properties, the Taipan Group has gained a reputation for versatility, quality and on-schedule delivery. Group managing director Andrew Teok sat down with us to discuss the group’s plans and what the ideal home is about.

With approximately 1,400 high-rise residential properties and 100 commercial properties to its name, the Taipan Group has gained a reputation for its ability to undertake versatile projects and deliver them ahead of schedule – no mean feat in these trying times.

Its property arm, Taipan Focus Sdn Bhd, was incorporated in the mid-1990s and made its name transforming and redeveloping old sections of Petaling Jaya. A major part of this effort included resettling more than 1,400 squatter families into new modernistic apartments developed by the Group – and freeing up acres of prime land for future development into modern, self-sustaining and well sought-after properties.

Other projects to its credit include a RM100 million mixed development in Pandamaran, Klang, the upscale Impian Baiduri development in Section 51A, Petaling Jaya, and the ongoing modern Park51 mixed development in Seri Setia.

Luxury Living and the Ideal Life

While best known for its focus within Petaling Jaya, the Group is making waves with its coastal resort development in Klang – the result of fortuitously acquiring an 800-acre land bank, says its managing director Andrew Teok.

“Most developers have conventionally stuck to either residential or commercial development, based on the size and location of their property,” says Teok. “We were fortunate to get this vast tract of coastal land, which allows us to develop a spacious resort property with residential, commercial and recreational aspects.

“Luxury living should allow you to live in an ideal environment,” explains Teok. “Many people are paying too much for high-end property in the Klang Valley, only to wall up the perimeter and live like a jailbird – what’s the point?”

Spanning from North Port to the Kapar power station, the Taipan Group’s seafront resort is aimed at offering discerning buyers a choice for the ideal environment they seek, with a spacious feel, seafront breezes and idyllic panoramas.

Strategies to Survive and Thrive

This strategy of developing versatile projects on vast land banks seems to be working well – the group remains on the look-out for viable projects that can be taken on through purchase of land or through joint-ventures with existing land owners.

Its current hallmark property within Petaling Jaya is, of course, the Park51 development in Seri Setia. The project has sold more than 50 per cent of the units of Residency@Park51, a RM200 million upscale yet affordable condominium spread over 5.6 acres. It has also received numerous enquiries and registrations for the remaining components of MyHome apartments (2.5 acres), Boulevard commercial centre (2.8 acres) and Commerce Square/Paragon Towers (15 acres).

Teok believes although the property market in general has softened somewhat, buyers are still flocking to the group’s projects due to their great location in central Petaling Jaya.

“We are offering them value buy and more convincing investment in terms of both sustainability of rental income and increase in property value,” he says.

In the medium- to long-term, Teok believes the business environment is conducive for further involvement in the housing and development industry.

“Selangor’s annual population growth of 4.8 per cent alone will ensure healthy demand for housing for many years to come,” he says. “As land becomes scarce in Petaling Jaya, the properties here will appreciate substantially through time and we will see more redevelopment of old properties.”

Commitment and Communication

Mr Teok attributes the Taipan Group’s track record of consistent timely delivery to being fully committed and focused on projects, while co-ordinating with the relevant authorities and community to meet their needs and concerns.

“This in itself will mitigate many problems, and your project will have a greater chance of running smoothly,” he says.

As a case in point, the Group had to consider complaints from some buyers that construction progress on Park51’s MyHome component was “too fast” at six months ahead of schedule!

Versatility and Balance

A double degree holder (in civil engineering and architecture), Teok takes pleasure in combining the artistry of one discipline with the hard science of the other in his three decades in real estate development and construction.

“My degrees gave me a good basis to be flexible and versatile in managing projects, but you know, I never really practised either,” he laughs. “The academic training has been useful though, in understanding and resolving the concerns of both consultants and the authorities.”

In fact, “versatility” seems to be an important keyword when it comes to this multi-disciplinary person, who has taken several law and MBA courses as well.

“A housing developer needs to be a jack of all trades,” he says. “There are so many issues to understand, from the business aspect to the Acts, and rulings and bylaws governing housing development.”

Physical and psychological maintenance is also important to Teok, who gyms, plays badminton and travels to keep his mind and body in shape, and was recently in Beijing for the Olympics.