This article first appeared in City & Country, The Edge Malaysia Weekly on December 4, 2023 - December 10, 2023

The property division of Gamuda Bhd — commonly known as Gamuda Land — has clinched the top spot of The Edge Malaysia Top Property Developers Awards (TPDA) 2023 for the first time.

Gamuda Land also placed first in both the qualitative and quantitative subcategories of TPDA this year. This is the first time in the history of the 21-year-old awards that a developer has been ranked number one for its qualitative and quantitative attributes on its own, without having to share the limelight with another company.

The overall winner of the TPDA is determined based on the tally of its qualitative (65%) and quantitative (35%) scores. The results are audited by Deloitte Malaysia.

For those who have been surprised by Gamuda Land’s win, the signs were already there. In recent years, the company has been inching, slowly but surely, towards the top TPDA ranking. Last year, it came in second, moving up from joint third (with Sunway Bhd — property division) in 2021. It was joint fifth (with IJM Land) in 2020, seventh in 2019 and eighth in 2018. Qualitative-wise, Gamuda Land ranked joint third (with Sime Darby Property) last year while quantitatively, it came in joint second (with IOI Properties Group Bhd).

So, what is it that Gamuda Land has done right this time? There is no simple answer but just as Rome was not built in a day, neither was Gamuda Land. A lot of work has been put in.

Interestingly, the Gamuda Land team is relatively young. In fact, the average age of its top management and executives is just 37.

CEO Chu Wai Lune is 40 this year. He joined Gamuda Engineering in 2008, overseeing the Electrified Double Track Project before moving to Gamuda Land first as a project manager, then general manager, chief operating officer, project director and most recently, CEO earlier this year.

But as Chu readily acknowledges, this young team benefits from the strategic input of the not-so-young individuals in Gamuda, ranging from Gamuda Bhd group managing director Datuk Lin Yun Ling to former Gamuda Land managing director Datuk Chow Chee Wah (now technical adviser) and Chu’s predecessor Ngan Chee Meng (now executive director). While research and data play a key role in successful property development, the “gut feel” of the experienced cannot be downplayed.

Gamuda Land has been synonymous with successful township development for more than two decades, both in Malaysia and overseas. Since 1995, the developer has built more than 50 projects and townships in Malaysia, and another six developments in Singapore and Vietnam. From 2007, it expanded its presence overseas with four developments in Australia and the UK. In total, Gamuda Land has built over 52,000 homes in 11 townships and 13 vertical communities locally and abroad.

Among its more successful projects in the Klang Valley is Valencia in Sungai Buloh, Selangor. This is the only residential development that offers a private residents-only golf course and clubhouse in a luxurious resort-style setting. Its Horizon Hills in Johor is an award-winning freehold integrated township with a gross development value of RM6 billion. Located in the heart of Iskandar Malaysia, the 1,200-acre Horizon Hills boasts an 18-hole designer championship golf course. In Sabah, Gamuda Land is behind Bukit Bantayan Residences, located in Inanam and overlooking the majestic Likas Bay.

One of the most outstanding features of Gamuda Land’s townships is how they exist in harmony with nature, with the developer “listening to what the lands have to tell us”. As such, rolling terrain, hills, wetlands, trees and water bodies are not only preserved but utilised to enhance the developments.

Gamuda Land is cognisant of the fact that its traditional way of building sustainable townships is no longer enough to stand out in the current demanding marketplace, which is dominated by new needs and wants. Lifestyles have changed significantly, in particular after the Covid-19 pandemic. Affordability has fallen and pricing is particularly sensitive.

While location, accessibility and the availability of amenities remain fundamental to the success of a project, savvy developers are aware of the need for out-of-the-box recalibration in planning, design and pricing. The project’s ­“story” must not only be fresh and exciting but also relevant to the target market.

As such, evolution and innovation are now at the core of the road map of key developers who take a long-term view of the market. Gamuda Land is no exception. Among its strategies is to invest in attractions and amenities that may not pay off immediately.

Cases in point are the up-and-coming Gamuda Cove and Gamuda Gardens, two of Gamuda Land’s latest township developments in Selangor. To fast-track footfall to and promote the townships, strategic investments are being ploughed into placemaking elements such as the SplashMania Waterpark, Paya Indah Discovery Wetlands, Discovery Park and the soon-to-be-launched Gamuda Luge Gardens.

These are heavyweight investments, though some are being carried out with partners. While these endeavours are translating into heightened and desired brand visibility for the developer and the townships, the acid test lies in the upkeep of the amenities.

On financials, it is worth noting that overseas sales have contributed significantly to Gamuda Land’s sales and profits, thanks in part to the weakened ringgit. The developer has projects in ­Vietnam, the UK, Australia and Singapore. Looking ahead, the market can expect half of the developer’s contribution to come from overseas as planned.

Similar to the domestic scene, overseas markets present their share of unique challenges. It will be interesting to see how Gamuda Land navigates the headwinds both locally and abroad in the days ahead.

As The Edge Media Group publisher and group CEO Datuk Ho Kay Tat has reiterated, our TPDA methodology has not changed. Hence, any change in a developer’s ranking is a manifestation of developments in the market and, possibly, also due to a shift in strategy by the companies.

Some developers are still reeling from the impact of the pandemic. Others are in varying stages of restrategising their response to the challenging buyers’ market.

Gamuda Land has truly earned the top ranking of this year’s TPDA. There is no doubt the market will be watching the developer in the days ahead.

On the same note, all the developers in the Top 10 of TPDA deserve recognition. They worked very hard to get on the coveted list.

Congratulations to all!

Au Foong Yee ([email protected]) is an editor emeritus at The Edge Malaysia. She has been a judge for The Edge Malaysia Top Property Developers Awards since its inception in 2003.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's App Store and Android's Google Play.