Misc – Saturday, 28 July 2012
Boutique developer Trinity Group’s projects have made high-end features the norm for mid-class projects both commercial and industrial. While its residential projects command high rental rates and resale value, its foray into the industrial sector involved ‘corporate’ multi-usage factories. And in Sri Kembangan, its mixed commercial development Zeva @ Equine South is set to become a social F&B hub away from the city.
Classy features for boutique community developments
Over the years, Trinity Group Sdn Bhd has managed to muster adequate experience and expertise to execute complex construction in a timely manner across a mix of commercial and industrial, as well as residential developments.
The small boutique developer was established only seven years ago; and has since gained a reputation for building classy ‘Z-themed’ projects in new economic areas from Puchong to Cyberjaya.
Launched in June, the group’s latest endeavour is Sri Kembangan project Zeva @ Equine South, which builds residential serviced apartments and studio apartments around commercial and retail spaces.
Managing director Dato’ Neoh Soo Keat said, “Our first project was The Heron Residency, 290 service apartment units built on leasehold land in Bandar Bukit Puchong.
“Today, The Heron Residency boasts a 30% rental rate, higher than similar properties within surrounding projects in Puchong – giving Heron a good resale value.
“Our second development, the 19 Residency consists of 24 units of three-storey semi-detached homes, also located in Bandar Bukit Puchong.
“We started building zero-lot bungalows. These semi-detached houses look like bungalows, because they are not attached to neighbouring units – so residents also get added privacy,” he added.
This project was completed in May 2010, 10 months ahead of schedule – a breath of fresh air in the Malaysian property scene where delayed projects are the norm instead of the exception.
Moreover, 19 Residency scored 79% for the Quality Assessment System in Construction (QLASSIC), assessed by the Construction Industry Development Board, subsequently placing the project within the top 10 scores as of August 2010.
Multi-usage corporate factories
Trinity then moved into industrial developments – producing its first low-density, gated and guarded project of 15 factory warehouses, The Latitude@USJ19.
The Latitude’s design is a breakaway from conventional industrial designs, incorporating floor-to-ceiling windows for ample natural light, trailer-accessible entrances and additional land for business expansion or storage, as well as two up-per levels for operations, office space or additional storage space.
“Latitude units are designed in such a way that manufacturers can convert and use space as and when needed.
“For SME owners especially, they often want to reside close to their production lines. If a factory operates 24/ 7, the boss has to address any machine breakdown as soon as possible, even if it strikes at midnight,” Neoh added.
This development is targeted towards end-product manufacturers and those involved in high-technology processes within the food, medical equipment, clothing and accessories sectors, among others.
He noted that the manufacturing model has changed in Malaysia from manufacturing raw materials into semi-finished or finished products for export – to manufacturing semi-finished products into complete branded goods.
“With this value-added supply chain in place, Malaysian manufacturers now may not require such large factory floor space.
“Similarly, dealing with semi-finished products also means factory floors are more environmental friendly – there is less pollution and wastage compared to those processing raw materials.
“Thus, in Latitude, we increased warehouse space to up to 30 feet high so it can be used to place machines or as storage space.
“Manufacturers can create a mezzanine floor at the top for storage. The minimum fit on the ground floor is 20 feet so trailers can enter easily,” Neoh remarked.
Zesty fortunes amid downturn
Trinity’s flagship project The Zest @ Kinrara 9 serviced apartments was launched during the worst of economic times in 2009, and yet was sold out within six months of its launch – a feat attributed to competitive price points and social media marketing.
Neoh remarked, “We fully sold Zest, but as a commitment to purchasers, we still built show units to give them an idea of what we were delivering.” Zest also features shop offices and a retail piazza.
Last December, Zest was completed and handed over to customers. To date, it boasts a 100% capital appreciation and -like Heron – provides higher resale value compared to similar properties in surrounding neighbourhoods.
Following on that, the Z Residence was launched last year, comprising four blocks of 26 and 27-storey condominium with 1136 units; offering features often found in high-end developments such as a floating garden, an infinity pool and sky lounges.
“We developed the project with the community in mind by allocating 50% of the development to conserving the environment with green lounges and relaxation corners.
“Moreover, we used double-glazed windows in the Z so that external heat is filtered, creating a more energy-saving building,” Neoh explained.
He continued, “In Zeva, and we are making slightly drastic changes by adding in a sky club, rooftop gardens and a sky deck. The latter is a balcony made entirely of glass at the top of Zeva, and it allows you to look directly into the sky club below and over the city.
“It does not belong to the penthouse, but is a public area so everyone can enjoy the view at the Zeva’s rooftop. I believe Trinity is the first developer in Malaysia to offer this experience,” Neoh remarked.
The public can access both sky deck and sky club via a special purpose lift directly from the lobby area.
Creating a community hub
In Zeva, Trinity is targeting first-time homebuyers within the mid-level income demographic – however it incorporates premium features such as a rooftop sky garden, a floating gymnasium and an Olympic-length pool.
“We sold one-and-a-half blocks worth RM168 million on launch day – Trinity’s record sale thus far,” Neoh said proudly.
There are two commercial aspects to Zeva. First is the 60-foot wide Gourmet Boulevard, which fronts the main road and offers an alfresco dining experience to both residents and visitors.
Above that are the Boutique Retail units consisting of three and four-storey commercial spaces for shopping boutiques, to complement Zeva’s lifestyle amenities.
“So far, we have not launched the Boutique Retail units – we have yet to decide whether to hold or sell these units, but based on the current selling position, I would say we are expecting high demand from the market, when they know that these lots can go for high prices.
“We are working out a model to get the tenant mix in order before we launch the units. Boutique Retail plays on the alfresco concept, so the focus will be very much on F&B.”
Noting that there is no ‘hang-out’ place in Sri Kembangan so youngsters have travel quite far to Cyberjaya or Kuala Lumpur for socialising, Neoh said, “I think Zeva Boutique Retail can transform the Sri Kembangan area the same way Sunway Giza brought life to the Kota Damansara neighbourhood.
“People can meet there after office hours or even hold community gatherings there, it is not too far from their homes and does not entail braving traffic jams. Food and services will also be more affordable than those offered in the city centre.
“Moreover, in a neighbourhood place such as this, consumers have higher purchasing power because of the cheaper parking and food,” he commented.
Connectivity to the city
Zeva @ Equine South is developed on a 3.71 acres of leasehold land, located at the intersection between Jalan Putra Permai and Persiaran Pinggiran Putra.
It comprises 320 units of studio apartments in a 20-storey block, and 446 units of serviced apartments in two 15-storey blocks; in addition to the 12 Boutique Retail three to four-storey units.
Neoh said Trinity is looking into office suites in future projects: “In fact, we have included a SoHo (small office home office) element within Zeva.”
Zeva @ Equine South is currently accessible via major highways such as the Damansara-Puchong Highway (LDP), South Klang Valley Expressway (SKVE), Maju Expressway (MEX) and the North South Expressway.
Neoh commented, “There are several new major highways coming up, which will create more accessibility into Sri Kembangan from Kuala Lumpur.
“These are the Serdang-Kinrara-Putrajaya Expressway (SKIP) and Kinrara-Damansara Expressway (KIDEX) – by the time Zeva is completed, both highways will be too.
“If we can reach KL in 15 minutes, why spend so much living in KL? The property prices for similar units in KL will cost five or six times more than in Sri Kembangan.”
Sustainable and functional approach
Neoh said the future of property marketing calls for developers to provide and enduring commitment to the green and environmental movement.
“Our new projects will place more emphasis on openness to light and air, to improve the natural ventilation of the space and thus reduce the need for air-conditioning and lighting during the day,” Neoh said.
Trinity will maintain its focus in the residential and mixed development segments in the next one to two years, because it foresees strong demand in this segment.
The developer is in the midst of acquiring land for future commercial developments and negotiating with a government agency to undertake an industrial project.
“Within the group, we have multitalented people who can handle residential, commercial and industrial developments so we are constantly in search for land banks to develop.
“Currently, we lack expertise in the hotel and retail industries, and are looking to acquire more talent in these areas. We still have much to improve upon.
“When the timing is right, we will expand our reach into the commercial and industrial sectors to tap into the growing small and medium industry (SMI) market,” he said.
He believes that the upcoming government projects on the new MRT lines and extension of LRT lines will inject new vibrancy into the property sector.
“I think that we are starting to feel the same vibrancy as in 1996 and 1997, when there was no shortage of jobs, but instead manpower shortage from professionals to labourers.
“As long as ASEAN has proper connectivity and waives further tariffs, Malaysian companies will have a brighter outlook, as we are leaders across various sectors, including construction.
“The 600 million-strong ASEAN population is a market we have to explore, and we have to think how we can contribute to and benefit from this market. Now we have the time to prepare for future growths or damages when the market opens up.
“For instance, we may need to spend on upgrading to better technology but also benefit from cheaper labour costs,” Neoh opined.
Sketching out a future where ASEAN cross-border travel may be passport-less and using a single currency, he said: “Developers, large or small, have to prepare for all eventualities. The knife cuts both ways so we have to minimise the damages as much as possible while capitalising on opportunities within a large economic body.”
