Thursday 20 Jun 2024
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This article first appeared in City & Country, The Edge Malaysia Weekly on February 26, 2024 - March 3, 2024

Majestic Gen Sdn Bhd is looking to launch projects worth a total of RM3.5 billion in 2024 and 2025, following a rebranding exercise that the company hopes will take it to greater heights.

Formerly known as Majestic Group, the company was founded by Tan Sri Ta Kin Yan in 2005 for the purpose of land investment. CEO Datuk Hoo Kim See explains that when the company came across land with promising potential later on, it decided to develop the land. It also revived projects that were in financial difficulties, and this inspired the team to continue with its property development business.

Majestic Gen’s portfolio covers various product segments including residential, commercial and industrial. It has completed 25 projects with a gross development value (GDV) of RM1.7 billion. These include Taman Sg Dua Utama in Penang (landed homes), Bangunan Yin in Petaling Jaya (commercial), Smart Industrial Centre Melaka (industrial) and Gallery @ U-Thant in Kuala Lumpur (high-rise).

It also has a property investment division, which owns 14 hotels under Sentral Group Hotel and several industrial lots in Melaka, for recurring income, according to Hoo.

Rebranding exercise

“We were a boutique developer and now, with the rebranding exercise, we want to go in a different direction. It is a transformation journey for the group; we look into our mission and vision and how we position ourselves,” Hoo says.

“One of the things we want to do is to go to the market and tell people who we are and what we want to do. We want to set a new benchmark for ourselves and become a pioneer and forerunner in the industry through emphasis on innovation, sustainable developments and customer satisfaction. These are the key things we are looking at.”

He adds that Majestic Gen also aims to create quality, timeless products that meet customers’ needs and current trends.

Majestic Gen director Ta Wee Dher, meanwhile, says it decided to rebrand as the company had always been associated with YTL Group’s The Majestic Hotel Kuala Lumpur. The transformation will see Majestic Gen getting a new logo and tagline, and executing a steady stream of launches every year.

“With the rebranding exercise, we also want to attract young, creative talent to grow the company, which will eventually turn the company into one of the top players in the industry. They are the assets of the company, which is important in the transformation. Now we have 40 staff and we expect to double that by the end of this year. Also, we are becoming more active with more projects to be launched every year,” he explains.

“To other stakeholders such as bankers, agents and consultants, [we want to show them that] we are a serious player and we are here for the long term. We also want customers to know our commitment and that we are here to support them in their house-buying journey. Then, we need the media to know us and support us; we need this channel to connect to our stakeholders. Customers will have confidence in us, knowing who we are and through this, we will be able to bring in new groups of followers. With all these in place, it will help the company grow.”

Ta adds that Majestic Gen hopes to launch projects worth a total of RM3.5 billion in 2024 and 2025, and eventually, RM10 billion in 10 years. They include landed and high-rise residential and commercial developments as well as industrial buildings across Malaysia.

The latest launch by the company is Majestic Residence on Jalan Dewan Sultan Sulaiman, Kuala Lumpur, last October. Sitting on a 0.66-acre freehold parcel, the 33-storey residential tower offers 478 one-bedroom units with built-ups ranging from 459 to 654 sq ft. Prices start at RM596,000 and the estimated maintenance fee is 55 sen psf inclusive of sinking fund. Majestic Residence is slated for completion in March 2026. The project is 90% sold.

Vision and mission

According to Hoo, Majestic Gen’s vision is to become a leader in creating sustainable developments that redefine modern living. It is passionate about leveraging innovation and enhancing creativity to bring about sustainable solutions and superior-quality properties that will remain relevant with time.

“We want to deliver good products that meet the customers’ satisfaction, and we want to bring value creation to the buyers, so it is a win-win situation,” he explains.

Hoo adds that Majestic Gen’s core values are Customer-centric, Honesty, Ambitious, Resourceful and Magnificent — CHARM, in short.

In terms of being “customer-centric”, or customer-friendly, Hoo believes that property developers must understand and prioritise customers’ needs and desires to create a positive experience for everyone. It will conduct a study and survey for all projects to get feedback from stakeholders.

“Honesty”, he adds, is core to every business. Majestic Gen wants to deliver what it promises and create trust and reliability.

As for being “ambitious”, the company will constantly explore and leverage the latest innovations to propel itself forward.

Hoo recognises the importance of being “resourceful” in order to be competitive. This involves the digitisation of business processes for faster, more efficient and economical outcomes.

As for being “magnificent”, Majestic Gen will continue to deliver excellence to meet market needs, and come up with end-products that company and staff are proud of, he elaborates.

Internal transformation

The name Majestic Gen, according to Ta, represents grandeur, elegance and beauty. The company intends to stand out with its designs and ensure customer satisfaction.

The word “majestic” represents its commitment to delivering developments with high standards and quality.

“Gen stands for generations, which means having a forward-thinking approach in real estate and creating sustainability for future generations. It also means what we design is for today and tomorrow, where we [use] sustainability and technology. The products we want to create are grand and have a wow factor,” he says.

Meanwhile, Majestic Gen’s tagline “Next Gen Living” underscores its dedication to creating living spaces that not only address current needs but also embrace the lifestyles of future generations.

Many internal measures have been taken in relation to the rebranding exercise, Hoo says. This includes holding management brainstorming sessions, setting up new procedures in various departments and making business processes smoother and faster.

“After the launch of Majestic Gen on Feb 27, which will introduce the new name and logo, we will engage our stakeholders such as bankers, partners, landowners and homebuyers with various events. We make it a point that for every key handover, we will have an event. We will also have get-togethers for our purchasers so that we can connect with each other, and to enable us to understand each other. From there, we will build relationships and customer loyalty,” he elaborates.

Nevertheless, the rebranding exercise is not without its challenges. Ta reckons that the biggest challenge is hiring talent, such as for the position of CEO and management. “I talked to Datuk Hoo for many years and it took him three years to agree to join us. He has been of tremendous help in transforming the company and bringing in key talent for various departments. The team has also given me much more confidence.

“[Another] challenge is the old regime of doing things and I am blessed that the current team of old and new staff are working well together to bring the company to the next level. It is about how to make it work in a better way, and we take the good things from both teams. Also, the chairman (Tan Sri Ta) and stakeholders are very supportive in driving the projects and this rebranding exercise.”

As part of its rebranding exercise and to attract younger staff, Majestic Gen will move its headquarters from the current one in Pudu to an office space of 10,000 sq ft in Pavilion Damansara Heights by June.

Moving forward

After the rebranding, Ta says Majestic Gen expects to grow revenue by 20% annually in the first three years owing to the steady stream of launches planned. The company has an undeveloped land bank of 523 acres worth RM10 billion spread across Malaysia.

The launches for 2024, which have a GDV of RM1.87 billion, are an industrial park in Mengkuang, Penang (GDV: RM997 million); 2- and 3-storey shop offices in Gunung Rapat, Ipoh (RM93 million); 2-storey terraced homes and 2-storey shop offices in Taman Sg Dua, Penang (RM58 million); 2-storey terraced homes in Bukit Kepayang, Negeri Sembilan (RM60 million); Gen Starz serviced apartment in Old Klang Road, Kuala Lumpur (RM240 million); and Gen Rise serviced apartment in Johor Bahru, Johor (RM424 million).

On sustainability initiatives, Ta says it will start with basic measures that it can achieve now.

“It can be done in the early stage of our planning, such as the design for the orientation of landed houses. For the condo, we can incorporate rainwater harvesting. For [landscaping] scraps, we can use them for composting. We will also introduce electric vehicle charging stations in all high-rise projects,” he adds.

“Sustainability in township planning is different. It is a development we will launch next year or the year after. It is about “social” (the ‘S’ in environmental, social and governance or ESG) where people can interact. It is about how we carve out paths to link the communities ... There are a lot of other things we can do and we will scale up and do more as the company grows.”

Ta says all its high-rise projects will aim for GreenRE certification as part of its sustainability initiative. Gen Starz serviced apartment in Old Klang Road has obtained a provision of GreenRE’s certification, the first such certification for the company.

Hoo reveals that the company is in the process of acquiring more land nationwide. With proper execution of the rebranding exercise and with strategies in place, now is the time for Majestic Gen to grow and reach the next level.

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