The Star – Sat, 3 August 2024
As Malaysia focuses on shifting away from being a car-centric country, property developers are racing to develop transit-oriented developments (TOD).
With planning underway, the 20-year-old Trinity Group Sdn Bhd stands to benefit from this national direction, backed by its current supply of land suitable for TODs.
Trinity Group founder and managing director Datuk Neoh Soo Keat (pic) tells StarBizWeek that land supply within the city areas, especially in the Klang Valley, are becoming increasingly limited.
“But luckily enough, the supply of land that we have currently is in TOD locations,” he says. While acknowledging the current challenging market environment, Neoh says the group is confident that its upcoming developments will be fully-taken up in years to come.
With a combined gross development value of RM7.3bil, Trinity Group is set to complete the launch of eight property projects within the span of five years.
Specifically highlighting its latest upcoming development, Trinity Rainfora, he says, “We believe in three months’ time after its soft launch this month, the take-up rate for Rainfora will be about 80% to 90%.
He states that Rainfora “ticks all the right boxes” as the luxury residence appeals to the current demand of homebuyers with development with its TOD advantage, connectivity, and desirable features as well as potential for capital appreciation.
“In fact, all our properties so far have appreciated double the amount. I think the lowest capital appreciation was only around the 40% to 50%-range”.
When asked if Trinity Group will be venturing into new markets, Neoh says the group is planning to launch a RM836mil mixed-development project in Permas Jaya, Johor.
“We will still continue to focus on the Klang Valley at the moment, but we are always open to exploring new opportunities to expand further.”
“We do foresee Penang coming up since the electrical and electronics (E&E) industry is booming there, but we might need a little more time to get familiar with the process of approval in Penang,” he points out.
Trinity Group will be launching two projects worth RM956mil in 2024, namely Trinity Rainfora, which will be located at Bandar Kinrara in Puchong and Trinity Sensoria in Ampang North.
This will be followed by Trinity Zia in Bukit Serdang; Lot 847 in USJ 19, Permas Jaya in Johor; Trinity Activerse in Petaling Jaya Section 16; Trinity Vision City in Petaling Jaya; as well as Lot 850 in Ampang.
Among the eight properties, the developments in Permas Jaya and Lot 850 as well as Trinity Activerse will be developed in three phases, all of which are expected to be launched by 2028. Generally speaking, he says the local property market also stands to gain from the escalating trade tensions between the United States and China.
Correlating the boom within the electric vehicle and E&E markets, he states, “This is beneficial for our property market because we need foreign skilled professionals in order for Malaysia to ride on this boom, and for them to come to Malaysia, having a property is essential.” Suggesting Malaysians rent out properties to foreign professionals, Neoh states that as time goes by, property prices and rental rates will slowly increase, allowing rental owners to enjoy higher rental yield.
“Be it renting or purchasing, it is definite that demand for property will see an increase,” he says. Overall, Trinity Group remains optimistic that the demand for its properties meets the needs of homebuyers, driven by its new branding shift from solely being known as a boutique property developer into a mixed-used and TOD property developer.
“The property market has constantly been changing at a significant pace. So with the growing demand for homes that provide convenience and sustainable living concepts post-pandemic, I believe Trinity Group’s properties will continue to remain relevant and competitive in the long run,” Neoh says.
