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       WITH the reopening of international borders, resumption of social and economic activities and easing of Covid-19 restrictions, the local property sector has much to look forward to.

       Nevertheless, local property players are still keeping their guard up and are cautious about the outlook of the market, going forward.

       YNH Property Bhd chairman Datuk Dr Yu Kuan Chon says the group will continue to be mindful about the global and local economic climate.

       “The ongoing war in Eastern Europe and its impact on the global economy is concerning. On the local front, we are keeping an eye on the rising inflation and the cost of materials,” he says in YNH Property’s annual report.

       Yu adds that the group remains optimistic that its latest project, Solasta Dutamas, will continue to receive good response from buyers upon its launch in the second quarter of 2022.

       According to Yu, the Solasta Dutamas development is a freehold serviced apartment located within the Mont Kiara neighbourhood.

       “Solasta Dutamas consists of three blocks of serviced apartments with a total of 1,159 units.

       “The project’s strategic location in a mature neighbourhood, being less than 10km away from Kuala Lumpur City Centre, efficient unit layouts and competitive pricing will attract young working executives who are buying their first homes and customers who prefer to live near their offices.”

       The construction of the development commenced in December 2021.

       Meanwhile, Lagenda Properties Bhd chairman Tan Sri Ahmad Kamarulzaman Ahmad Badaruddin says the group has been positioning itself to transition into the endemic phase.“Since the pandemic started, we have made continuous efforts to enhance and upgrade the safety of our offices and construction sites to ensure that Lagenda Properties plays its part in minimising the risk of Covid-19 infections.

       “Despite the positive indicators as Malaysia enters the endemic phase, we must not let our guard down,” he says in the group’s annual report.

       Ahmad Kamarulzaman says Lagenda Properties will ensure that it remains resilient and be prepared to adapt to challenges that may lie ahead.

       “The group will continue to ensure that the long-term viability of Lagenda Properties is protected by putting in place systems and contingencies to address concerns caused by any disruption to business operations.”

       Ahmad Kamarulzaman adds that Lagenda Properties will continue to innovate and leverage technology with greater emphasis on increasing alternative sales channels, unique marketing strategies and creative product design in 2022.

       “This will ensure that we maintain our core competencies, unique business model and our financial efficiencies. It is no longer business as usual,” he says.

       Meanwhile, Iskandar Water-front City Bhd (IWC), in its annual report, acknowledges that 2022 is likely to be an opportunity for a rebound of various sectors of the economy, as an increase of demand is expected.“This is of course with the proviso that the Covid-19 pandemic keeps its current receding trend without the emergence of any events of concern.

       “The group constantly monitors both global and local developments and is aware of the need to promptly adapt to new scenarios that may arise as a result of major changes in policy or emergencies,” IWC says in a forward looking statement.

       The company says it is retaining a positive outlook for the year ahead, but adds that challenges remain.

       “The group continues to focus its resources into sustaining its operations and launching new projects should the circumstances permit.”

       IWC says it is optimistic that with the reopening of the country’s borders and relaxation of Covid-related restrictions, more Malaysians working in Singapore will return to purchase property here, especially Johor Baru.

       “In addition, the ongoing development of the Johor Baru-Singapore Rapid Transit System link should augur well for the market sentiment and provide a catalyst for the property market.

       “Notwithstanding unexpected events and subject to the macro market, the group will continue to supply a wide range of premium quality products, ranging from deluxe residences with high-end finishes and facilities to sizable landed units with practical and efficient layouts within the township of its development.”

       IWC adds that it will refine its business strategies, as and when required, to adapt to the changes to the industries and its businesses.“In line with the element of adaptability, the group constantly looks into avenues to enhance operational efficiencies, manage costs and cash flows with the aim of achieving improved results and ensure sustainable long-term growth for the group.

       “We remain confident that our present management team established over the years are more than competent in steering the group towards sustainability and beyond during these challenging times.”Separately, Maybank Investment Bank (Maybank IB), in a recent report, pointed out that many developers are less aggressive this year and are targeting flat or lower sales.

       “Without the Home Ownership Campaign (HOC) and the uncertainty arising from the Russia-Ukraine war, as well as potential interest rate hikes in the second half of 2022, developers are generally less aggressive and expecting flat or lower sales targets.”To help spur the property market, the government had introduced the HOC in June 2020 under the Penjana initiative.

       The campaign ended on Dec 31, 2021.

       Many industry observers and property players believed that the HOC was a huge help to the market and urged the government to extend the campaign period into 2022.

       Maybank IB says it will be hard to gauge the impact of the HOC on 2022 sales just by looking at performance during the first quarter of this year.

       The research house says sales during the first quarter of 2022 could be distorted by the conversion of bookings that were secured at the end of 2021 (before the end of the HOC on Dec 31, 2021).

       “Also, sales are seasonally weaker in the first quarter.

       “Developers have designed their marketing packages according to project saleability and we understand that these packages are comparable and could be more attractive than those under the HOC.”