YGS Property Development debuts with Twinz Residence

A new player in the property market, YGS Property Development Sdn Bhd is starting its journey with a 278-unit serviced apartment development in Bandar Puchong Jaya — one of the popular areas for first-time homebuyers.

The 2.1-acre freehold project known as Twinz Residence will comprise two 20-storey residential towers and is located next to Koi Kinrara, a high-density condominium.

YGS Property Development managing director Yau Wen Soon tells City & Country that as more people from the other states move to the Klang Valley for work and to start a family, areas outside Kuala Lumpur but with good connectivity to the city, for instance Puchong, have become increasingly popular with homebuyers.

“We see the potential of Bandar Puchong Jaya as a home for the young working population and understand that there is a need for affordable yet more private spaces for residents. So, we decided to start with a low-density, high-rise project here,” says Yau, who is also one of the founders of the company.

“All the apartments are 3-bedroom units — even the smallest units will have three bedrooms and a balcony. The squarish layout provides more space to the owners and allows them to have more flexibility in the interior design.”

Yau remarks that each floor will have low density, which encourages community bonding and enhances security. The apartment will also have the fewest number of units on every floor compared with other similar developments in the area.

Twinz Residence will have five layouts, with built-ups of 871 to 1,226 sq ft. Every floor will only have six to seven units.

With a gross development value of about RM190 million, the project is expected to be completed in the second quarter of 2018.

“We are targeting young families, professionals and upgraders from areas such as Puchong, Bandar Sunway, Petaling Jaya, Subang Jaya, Bukit Jalil and Old Klang Road,” says Yau.

YGS Property Development plans to officially launch Twinz Residence in March or April this year. The company deferred the official launch date from last year to this year due to the soft property market.

Units at Twinz Residence are priced at RM560 psf on average, with a minimum selling price of RM526,000 and maximum selling price — for limited large-sized units of about 2,000 sq ft each — of RM1.4 million.

Yau says the project had a soft launch in March 2015 and 50% of the units have been taken up. Construction began at end-July last year and is now 15% complete.

“We are putting a great emphasis on offering more space to the residents by optimising the usage of the common areas. For example, the eye-catching lotus-pod design of the multipurpose zone will surely attract people’s attention at first glance,” he adds.

A lotus-shaped basketball court will be built beside the swimming pool and will appear like a lotus floating on water. The basketball court will be covered by a lotus petal-shaped net wall. The space can also be used for gatherings and group exercises such as tai chi.

Apart from the multipurpose area, there will be a 75m length crystalline infinity pool and a splash park for children.

“We hope the residents will walk out from their house and interact with others. To make this happen, besides workout facilities for children and adults, we will also have a gourmet kitchen equipped with all the tableware, kitchenware and cookware,” Yau remarks. He hopes that the kitchen will provide residents with a space for gatherings or to party with their loved ones.

A joint-venture project

YGS Property Development is a joint venture between Yau, an experienced project manager, and the company’s chairman Leong Yee Gang and his wife Yvonne Liew. The parcel on which Twinz Residence sits belongs to Leong’s father.

Yau has 10 years of experience in property development. He stayed and worked in Dublin, Ireland, as a project consultant for four years after obtaining his MBA in Malaysia.

“After a few years overseas, I started to miss home and decided to come back as I believed there would be opportunities here,” says the 37-year-old developer.

Upon returning, Yau worked in an established local property development company. He left the firm in 2013 to set up his own company, together with Leong and Liew, in the same year.

Leong and Liew have been involved in the gold and jewellery business for 30 years. Leong, influenced by his father, also invests in land.

After being introduced by a mutual friend, Yau and Leong soon became partners as they have the same dreams — they want to build something that can benefit others.

Leong says his family has held the parcel, where Twinz Residence is located, for about 40 years. Over the years, many developers showed an interest in the parcel, but his father decided to hold on to the land as an asset of his family.

“I hope to make good use of the land by building homes for the people,” Leong remarks.

Yau says as the project is a joint venture between the landowner and developer, no land cost is incurred, thereby allowing the developer to have units that are affordably priced and yet still provide facilities of a high standard.

He hopes that Twinz Residence will be a good start for the company to build its brand name in Puchong.

“As a new player in the industry, we strive to be a premier developer in Malaysia that emphasises on sustainable lifestyle developments. We also look forward to having joint ventures with other landowners and to create more sustainable developments like Twinz Residence in the Puchong area.”

On future developments, Yau remarks that the company will be focusing on Twinz Residence for now, before moving on to new projects. But he reveals that future developments will most probably be in Puchong as Leong is thinking of injecting new parcels into the company and they are mainly located in the area. In terms of location, Puchong has good accessibility to the Federal Highway, Damansara-Puchong Highway (LDP), Shah Alam Expressway (Kesas), New Pantai Expressway (NPE) and North-South Expressway Central Link (Elite).

Yau says as land is becoming scarce, Puchong’s residential developments are moving towards high-rises. The accessibility of Puchong to Kuala Lumpur and Petaling Jaya has made the place even more popular, especially with those who come from the other states.

Laurelcap Sdn Bhd executive director Stanley Toh says most developments in Bandar Puchong Jaya are high-density. The increasing population also means that the traffic congestion problem is worsening, which may affect buyers’ decision.

“Pricing is the main consideration for buyers in Puchong. High-end condominiums with selling prices above RM800,000 are less attractive to buyers, but demand for those priced at half-a-million ringgit remains strong,” he explains.

Toh says even though there are traffic jams and prices are becoming more expensive, the mature township remains a popular choice for many working people who come from the other states. They will stay in Puchong and start a family with their first home in the area before upgrading and moving to other places. - By Tan Ai Leng / The Edge Property