What are the new plans for IJM Land?

I think my vision for IJM Land is to leave not so much a legacy, but a strategic plan or goal for the company to follow, even at the end of my tenure as CEO. My strategic goal was that it was always going to be a distinctively premium developer. I think of the word ‘premium’ not just in terms of a higher price point, but also build quality. If it’s good quality, it’s premium, isn’t it? So we want to be that, not just pigeonhole to price points. But everything to do with the value proposition — our build quality to the purchaser. As a whole, the value proposition. And to achieve that, I have crafted my tactical objectives.

We are rationalising our land bank. Some non-strategic ones have got to go, but this is balanced with new land acquisitions for quick turnaround — fast-moving projects and pushing them into the market. These objectives will be supported by what we call our ‘Zones to Win’, which relate to our products. We have identified four such zones.

There is the Performance Zone — what we work on day in and day out, as our bread and butter through the years and for the following years, is that our townships will have to do the heavy lifting. And there will be individual residential projects here, there and everywhere … like Riana Dutamas. We are pivoting to industrial [developments]. It started with the development of the Malaysia-China Kuantan International Logistics Park via a joint venture with China Harbour Engineering Company Ltd. We want to go bigger on industrial land sales and development, and that means industrial parks.

Then there is the Transformation Zone, which will change the market perception of us again. On top of that is our integrated commercial mixed-use development, with a big one in Pantai Sentral Park called Enlace. Also, we are going into the wellness business using our own properties. Once we have set that up, we will go into wellness precincts in our townships. It will include assisted living and independent living services, and be part of an ecosystem within a township.

Then, we have what we call the Productive Zone. I am almost in the final stage of pulling everything back to the centre. I have centralised things … like our procurement, design development and even for our branding. Lastly, we have the Incubation Zone. We are incubating green townships and attempting to incubate tourism integrated developments. We incubate in our new markets, like in Sabah and Sarawak and Indonesia’s Nusantara. And although we have been in the UK, the next big one coming up is with National Rail, with which we have a joint venture to develop its land.

So, all these zones are to support and deliver the ultimate strategy goal of being a premium developer with a very distinct ratio of the products we have. I hope to put the company in a good place where we have a strong portfolio of investment properties. We will then, in all of our endeavours, have a ratio to deliver the revenue that will actually be culled from or predicated on investment property at a certain percentage; commercial mixed-use development, another percentage.

Then we can pare down the township developments that are important so that we don’t rely so heavily on townships. We can also have commercial mixed-use and investment properties. And lastly, the smaller projects, boutique developments. We will carve out the respective ratio as well as how we will deliver the sales revenue and profits.

written by Wong King Wai

https://theedgemalaysia.com/node/692375

58 Acres of Pantai Sentral Park Township