China’s Country Garden breaks ground in Malaysia with Mayland
Regional president of the Malaysia Project for Country Garden Holdings Company Limited Kayson Yuen (KY) and managing director of Country Garden Properties (Malaysia) Sdn Bhd Chai Keng Wai (CKW) share with PropertyGuru their property development plans, '5 star living' concept and community projects.
Q. What is your business background and why has Country Garden chosen to expand its development to Malaysia?
KY: Country Garden has had over 20 years' experience in building townships. Over the years, we have created over 100 townships spread out in almost every main city in China .In our township, you enjoy not only high-quality products, perfect facilities, state-of-the-art landscapes and in addition to that we also wish to pioneer our clients to live a 5-star lifestyle.
As a top 10 developer in China, we also hope to venture in to another take-off through development, overseas market development seems to be the best opportunity and great challenge for us to undertake.
Country Garden (China) formed a professional research team which included our founder to conduct serious studies in several countries to identify the most suitable place for investment. In 2011, after considering all aspects for investment (location, environmental resources, cultural, etc.) we have made our decision on Malaysia because of its overall favourable conditions, investment environment as well as real estate development has great potential. Malaysia is our first station overseas.
Q. Why has Country Garden and Mayland decided to enter a joint venture in Malaysia?
KY: Even though Country Garden is well established in China and is listed in the Hong Kong Stock Market, we are new in Malaysia. To start anew is not easy. We have to adhere to our 'fast development and sales' business model; we want to adapt to and blend in the local market as soon as possible, so we figured that we can cooperate with an established local developer, after all a win-win co-operation would be the most efficient way.
Our JV with Mayland is honestly circumstantial. Our chairman, Mr Kwok Keung Yeung and Tan Sri David Chiu are good friends. Also, their development ideas correlate as both of our entities insist to build products which are brilliant, high quality with competitive prices and also focus to develop in high developing areas with a wonderful environment, convenient facilities and also great opportunity for capital appreciation.
CKW: In recent years, it is the trend and Malaysia society's need to have an ideal township life bearing a conducive environment, which includes comprehensive facilities, high standard of safe and secured community, practical and efficient layout. Mayland has vast experience in local property industry and proud to say that with good track records and big crowd of home-buyers follower, we think we should expand even further and Country Garden Holdings is the correct partner for us.
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