12 14 || CEO CONVERSATIONS 2014 The Business Times | Wednesday, October 8, 2014 T HE coming year is a busy and exciting time for Johor-based MB Group of companies. TriTower Residence @ Johor Bahru Sentral, its landmark luxury development right next to the proposed RTS (Rapid Transit System) station at Bukit Chagar, has received good response and has only limited units left. A host of new developments right by the Causeway to Singapore will also be launched, catering in part to Singaporeans and permanent residents looking for a retirement or investment home next door. MB Group co-founder Alan Sim says the company's unique selling point is its integrated business model. “We can cover most of the main areas required in a property development, ranging from construction, building materials trading, landscape and interior design to credit financing,” he says. “This enables better cost control and consequently benefits the purchasers by providing premium products at a reasonable price.” Mr Sim, with more than 35 years of experience in the property development industry, has been instrumental in the growth of the group through identifying, securing and managing various projects. Established since 1983, MB Group was initially involved in building public structures such as schools, municipal buildings, mosques and various government projects in Johor. This has helped the group to build and maintain a good relationship with state government agencies. It slowly grew and entered other businesses such as trading building materials, resort and hotels, and other forms of property development. “Our vision is to be a leading property developer in Malaysia and, conse- “We can cover most of the main areas required in a property development, ranging from construction, building materials trading, landscape and interior design to credit financing. This enables better cost control and consequently benefits the purchasers by providing premium products at a reasonable price.” Alan Sim, Co-founder, MB Group quently, expand internationally with the support of our construction and design arm to develop premium properties that seek to improve the quality of life for all,” Mr Sim says. “We have a strong multi-disciplinary team of 2,000 employees. With over 30 years of experience in the industry, we have gained valuable knowhow on the development of a wide range of property types.” TRITOWER SUCCESS RAISING LIVING STANDARDS Property developer MB Group aims to improve the quality of life for all TriTower Residence, the freehold luxury development in Johor Bahru by MB Group unit MB Builders, promises to do just that. A key draw is its strategic location next to the proposed RTS station at Bukit Chagar and the Johor Bahru CIQ immigration checkpoint. The JB Sentral transport hub and City Square shopping mall are also within walking distance. Bukit Chagar is reportedly the site that the Johor government has earmarked for the upcoming RTS linking Singapore's MRT network to Johor. The development, expected to be completed in 2017, consists of two residential towers and a four-star hotel offering called Capri by Fraser Hotel Residences, managed by Frasers Hospitality Pte Ltd. A sky bridge will be a defining architectural feature, containing facilities such as a gymnasium, a lounge, a spa and sauna, and an infinity pool. “Internally, we are providing luxury and quality finishes such as marble and teakwood flooring,” says Mr Sim. TriTower Residence has picked up some accolades. It won the “Best Luxury Condo Development (South Malaysia) and has been shortlisted in the “Best Condo Development (Malaysia)” category in the South East Asia Property Awards 2014 recently. “In the next few months, we are expected to launch a number of new developments including the Sky Habitat and Twin Tower Residence which are also located near to the proposed RTS Station at Bukit Chagar,” Mr Sim says. “Projects in this area will be a good investment, especially for Singapore PRs and Singaporeans who often travel between the two countries. We expect the properties will appreciate further in value when the RTS station has started operation later. “We will also be developing a 75-acre wellness residence with close proximity to nature,” adds Mr Sim. WHITE KNIGHT MB Group is one of the top 10 developers in Johor with a gross annual revenue of RM1.46 billion (S$572 million). Evolved from Mahabuilders Sdn Bhd, it has turned around abandoned projects in Johor in the past decade, gaining a reputation as a “white knight” developer. The group entered its first redevelopment project in 2001 in Taman Baiduri, a 15-minute drive from the Johor Bahru city centre. Other examples include the Skudai Ville Apartments and Pandan City, a development in Tebrau abandoned in the early 2000s after the original developer ran into financial problems. Mahabuilders began investing in Pandan City in mid-2007. Today, it is bustling and the developer is busy finishing a number of homes there. For example, Pandan Residence I, a leasehold apartment, is sold out. It is also currently building nearby Pandan Residence II. Although nine-tenths of the group’s business is focused on Malaysia, MB Group has also diversified abroad. “In Perth of Western Australia, we are currently developing two residential apartment projects as well as three hotels in Perth Waterfront, Fremantle and Northbridge,” says Mr Sim. “The hotels will be named DoubleTree by Hilton Hotel managed by the world-renowned Hilton Worldwide.” MB Group has a promising outlook in the year ahead, Mr Sim says. “Our land banks are at strategic locations, like Bukit Chagar. Other than Johor Bahru City Centre, our group also has a huge land bank of more than 900 acres in Desaru, which has been developed into Taman Desaru Utama with 35 per cent built-up so far. “Our Taman Desaru Utama is the first township development in the area. We foresee a big increase of population and demand here due to the Pengerang Integrated Petroleum Complex (PIPC) development.”