S P Setia is Malaysia’s top property developer

30 October 2018
Raja Kamarul Bahrin Shah (second from right), Tong (left), and Ho (right) presenting The Edge Malaysia Top Property Developers Awards 2018 to Khor yesterday. Photo by Shahrin Yahya

KUALA LUMPUR: S P Setia Bhd has clinched the top spot in The Edge Malaysia Top Property Developers Awards (TPDA) 2018. This is also the third consecutive year the company has won the spot.

S P Setia president and chief executive officer (CEO), Datuk Khor Chap Jen, said the company is proud to retain the No 1 spot, which is also its 11th time overall.

“I would like to attribute this win to the strong and continuous support received from Team Setia. Teamwork is definitely the hallmark of our success,” he added.

S P Setia is also the winner for both the Best in Quantitative Attributes and the Best in Qualitative Attributes sub-awards. The group shares the Best in Quantitative Attributes with UOA Development Bhd (No 4).

The TPDA anchors The Edge Malaysia Property Excellence Awards (TEPEA), which in recent years has expanded to include other sub-awards such as The Edge-PEPS Value Creation Excellence Award, The Edge-PAM Green Excellence Award, The Edge Malaysia Affordable Urban Housing Excellence Award, The Edge Malaysia Outstanding Property CEO Award and The Edge Malaysia Pioneer Development Award.

The other top 10 winners are IJM Land Bhd (No 2), Sime Darby Property Bhd (No 3), Sunway Bhd — property division (No 5), Eco World Development Group Bhd (No 6), IOI Properties Group Bhd (No 6), Mah Sing Group Bhd (No 7), UEM Sunrise Bhd (No 7), Gamuda Bhd — property division (No 8), Tropicana Corp Bhd (No 9) and Eastern & Oriental Bhd (No 10).

Eco World Development and IOI Properties share rank at No 6, while Mah Sing and UEM Sunrise share rank at No 7.

The TEPEA gala dinner was held yesterday at the Hilton Kuala Lumpur, with more than 400 real estate players and experts coming together to celebrate the event.

“For the Top Property Developers Awards we have both qualitative and quantitative evaluation,” The Edge Media Group publisher and group CEO Ho Kay Tat said in his speech.

“The qualitative evaluation is done by a panel of judges who are industry personalities. The companies are judged by their peers, which is probably the most satisfying way to be recognised. To mitigate the risk of biasness, judges abstain from casting their scores for companies where they are conflicted,” he said.

The scores and rankings for the TPDA are audited by Deloitte Malaysia.

Also attended the event were Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad Shah and The Edge Media Group chairman Datuk Tong Kooi Ong.

In his speech, Raja Kamarul Bahrin Shah noted that both the government and the private sector, including developers and financiers, have a collective responsibility to help Malaysians, especially young Malaysians, own a home.

“We must strive to facilitate homeownership especially among first-time house buyers,” he added.

“The time has passed for us to highlight all the reasons why young Malaysians cannot afford to own a home. We are all by now very familiar with the problems of low incomes, high prices and inadequate bank financing.”

This year, The Edge Malaysia Lifetime Property Achievement Award is awarded to Bandar Utama City Centre Sdn Bhd’s Tan Sri Teo Chiang Kok. The award recognises his contribution to the development of Bandar Utama in Petaling Jaya.

Meanwhile, The Edge Malaysia Outstanding Property CEO Award goes to MKH Bhd’s Tan Sri Eddy Chen and UEM Sunrise’s Anwar Syahrin Abdul Ajib. The award recognises CEOs and professionals whose leadership has taken their companies to extraordinary heights.

The Edge Malaysia Pioneer Development Award — to recognise significant projects that have not only emerged as a pioneer in the market but also contributed positively to the growth of its surrounding areas — goes to Sunway Bhd and Ramsay Sime Darby Health Care Sdn Bhd for their hospital projects.

The Edge-PEPS Value Creation Excellence Award — started in partnership by The Edge and the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector — recognises developments that have provided outstanding rewards to their purchasers in terms of capital appreciation. This year’s winner is Horizon Hills Development Sdn Bhd’s Phase 2D3 in Horizon Hills, Johor, while the merit award goes to Mah Sing’s Alpine @ M Residence 2 in Rawang, Selangor.

In partnership with the Malaysian Institute of Architects, The Edge-PAM Green Excellence Award recognises projects that demonstrate sustainable design innovation while contributing positively to the community.

The winner is EPIC, the Environment Preservation and Innovation Centre in Negeri Sembilan by Kualiti Alam Sdn Bhd, while the honorary mention award is given to Franky Land Sdn Bhd for Mangala Resort & Spa in Pahang and S P Setia for Setia Spice in Penang.

The Edge Malaysia Affordable Urban Housing Excellence Award, which honours affordable housing projects for the urban middle-income group undertaken wholly by Malaysian private developers, is awarded to Savanna Executive Suites @ Southville City in Selangor by Mah Sing.

The TEPEA this year is sponsored by Auto Bavaria and USG Boral, and presented by City & Country, the property pull-out of The Edge Malaysia weekly. It is supported by EdgeProp.my.

Note from the publisher

5 November 2018
Raja Kamarul Bahrin Shah flanked by The Edge Media Group chairman DatukTong Kooi Ong (left) and Ho. Sam Fong/The Edge

Dear readers,

The Edge Malaysia Property Excellence Awards (TEPEA) celebrated its 16th iteration at a gala dinner on Oct 29, with Housing and Local Government Deputy Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad as our guest of honour.

There were many familiar faces at the event celebrating top developers in Malaysia. Moreover, notable projects were also recognised for their innovative designs and contribution to the property landscape.

The event also provided an avenue for industry players to mingle and network, which is something of a welcome respite during these challenging times. However, optimism is in no short supply among the industry’s best as many of them have weathered several economic slowdowns and proved adept at adapting to market changes.

While the current focus is on affordable housing, many developers believe that the government should provide incentives to help clear the overhang, or unsold properties, in the property market. But the government is facing its own financial constraints.

We believe it is also time for the industry and government to embrace out-of-the-box solutions to address the issue of affordability so that more young Malaysians can own their first home. We must not always depend on government initiatives.

But this year, the awards recognise the top property developers as well as pioneering and affordable housing developments. We also have personality awards to recognise outstanding leadership and CEOs who have led their companies with focus and strong vision.

This year, the recipient of The Edge Malaysia Lifetime Achievement Award is Tan Sri Teo Chiang Kok of Bandar Utama City Corp Sdn Bhd. The Outstanding Property CEO Award went to Tan Sri Eddy Chen of MKH Bhd and Anwar Syahrin Abdul Ajib of UEM Sunrise Bhd.

We thank our partners, Malaysian Institute of Architects (PAM) and Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS), for their continued support.

PAM helps evaluate properties that practise good sustainable practices and use eco-friendly products, while PEPS appraises projects that achieve strong capital appreciation, showcasing the developers’ ability to create value for their buyers.

While the property industry continues to face a soft market, the outlook continues to remain positive. The new government is working hard to get the country back on track amid weaker global growth. Nonetheless, the property industry continues to not only build homes but also play its part in nation building.

This special edition of City & Country showcases the various thoughts, views and insights of the award recipients.

My heartiest congratulations to all the winners and a big thank you to our partners, Auto Bavaria and USG Boral.

Ho Kay Tat
Publisher and Group CEO
The Edge Media Group