Platinum Victory Group plans to develop a new commercial project in Setapak, Kuala Lumpur and is bullish on the prospects.
Sprawled over eight hectares (ha) in Jalan Genting Klang, it will feature an exhibition hall and retail shops, among others.
The development will be available only for lease in order for the developer to control the tenant mix.
It is understood, the project will be three times the size of The Palette, a contemporary commercial hub that sits in the heart of Platinum Lake City in Danau Kota, Setapak.
The Palette, developed over 3ha, has a net floor area of 110,000 sq ft. The commercial and social space has 17 units of one and two storey retail lots.
The anchor tenant is AEON BiG, occupying 55,116 sq ft while the rest of the lots have built-ups ranging from 404 to 2,700 sq ft.
Housing development
Platinum Victory, established in the late 1990s, is focusing on the housing market in Greater Klang Valley.
Executive director Gan Yee Hin said the company remains steadfast, holding on to its key aim to cater for the housing needs of Malaysia's mass market within the Greater Klang Valley region.
"Although the current situation (global Covid-19 pandemic) is affecting the local and global economy, property is a necessity and the demand remains.
"As we have witnessed over the years, the property landscape is challenging and competitive. There is a need for industry players to step up and be more creative and innovative in their approach," he said.
The company has defined its developments into two main segments of target markets - to cater for growing and distinct needs, as well as diverse budgets of house buyers - in strategic locations.
"Home ownership for affordable homes are not confined to the suburbs or newly-developed townships. One can find competitively-priced residential properties within the country's bustling capital city and mature townships," he said.
Gan said one of the many offerings within this segment of housing projects include the up-and-coming development, Vista Danau Kota.
Another project is Vista Wirajaya, a sold-out project which is due for completion by early next year.
Its prime location next to Taman Melati LRT station and renowned educational institutions enables potential house buyers become city dwellers and proud houseowners of high-rise apartments within the developed and thriving township of Setapak.
Both Vista Danau Kota and Vista Wirajaya are one of the many Vista Essential Homes' projects that are hand-in-glove initiatives with the Federal Territory Ministry to provide affordable housing to first-time house buyers in the city under its Affordable Housing Scheme programme, pegged at RM300,000 per unit.
On the reintroduction of the Home Ownership Campaign (HOC), Gan believes that this is a step in the right direction.
"Platinum Victory continues to be a strong supporter of HOC as we have seen how many Malaysians have benefitted from this," he said.
Gan believes that Malaysians should be able to own a house at a relatively competitive price range of RM750,000.
"As with every crisis, there is an opportunity. It boils down to how we take the opportunity at the right time, as newfound opportunities will arise to replace old ones."