TheEdgeProperty.com Malaysia’s Best Managed Property Awards 2017 has been born out of an in depth understanding of the Malaysian real estate landscape and what is lacking for the country to be a desirable international property investment destination.
Capital appreciation is key for property investors. This is especially so with prices of property escalating with little or no sign of respite.
Central to enhancing property value would be the quality of its management and maintenance. Ironically, this is one facet of the real estate industry eco-system that has been grossly ignored.
It is this gap that TheEdgeProperty.com Malaysia’s Best Managed Property Awards 2017 seeks to address.
Just imagine what our cities would look like should they house high-rise buildings that are poorly maintained…Are we in danger of becoming a slum?
What do we need in Malaysia to ensure that we are not headed that way?
The answer lies in a collective effort by the authorities, developers, property managers, owners and consumers, of course.
It is through this Award that TheEdgeProperty.com strives to create awareness and drive home the importance of top-in-class management practices in Malaysia and, by extension, what is required for this to be a reality.
The seed of a well-managed building is sown at the project drawing board. Buildings designed with best global management practices in mind clearly offer an edge for sustainable and quality building management efforts.
On the flipside, any attempt by an overzealous developer to, for instance, over provide for amenities or to focus primarily on the aesthetics of a building could well translate into a nightmare for a building manager. Financial sustainability is crucial.
First of its kind
We are pleased to note that TheEdgeProperty.com Malaysia’s Best Managed Property Awards 2017 is the first of its kind in Malaysia, and possibly in this part of the world.
Besides raising the bar on property management practices in Malaysia, it is our aspiration to create an index of top quality-managed buildings. In due time, we see investors, both local and foreign, seeking out not only quality-managed buildings but also developers who are responsible for these buildings.
Though this is the Awards’ debut year, the number of submissions received was far beyond our expectations. We would like to humbly believe that the positive response can only be a testament to a need for the recognition and promotion of top-in-class property management practices in Malaysia.
Kudos to each and every one of those who have submitted themselves to be ranked. It certainly speaks well of their aspiration to be the best in class globally.
Au Foong Yee is the managing director and editor-in-chief of TheEdgeProperty.com. She was behind the conception of The Edge Malaysia Property Excellence Awards, The Edge Malaysia Top Property Developers Awards and Haven My Dream Home Contest of The Edge.
This story first appeared in TheEdgeProperty.com pullout on April 7, 2017. Download TheEdgeProperty.com pullout here for free.