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aws全区号(www.2km.me)_Developers get innovative for continuity

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IOI Properties Group Bhd (IOIProp) executive vice-chairman Lee Yeow Seng (pic) says the progressive rollout of vaccinations will help tremendously in facilitating a gradual recovery and reopening of the economy.

AS the Malaysian economy gradually reopens, some property developers have already embarked on ways to boost their recurring income base and future-proof their business.

Like a hovering dark cloud, the uncertainties of the pandemic continue to linger.

However, this has not deterred developers from exploring new avenues to ensure business continuity.

IOI Properties Group Bhd (IOIProp) executive vice-chairman Lee Yeow Seng (pic) says the progressive rollout of vaccinations will help tremendously in facilitating a gradual recovery and reopening of the economy.

“When that happens, we will be ready to capitalise on new and emerging opportunities across our business segments,” he says in IOIProp’s recently released annual report.

“In the meantime, we continue to focus on strengthening our core competencies and developing new capabilities to widen our income streams.”

Acknowledging that the pandemic has been a major disruption, Lee however adds that the Covid-19 pandemic has also presented opportunities for IOIProp to refocus on operational sustainability and efficiency, as the group continues to adapt to new operating conditions.According to the National Property Information Centre (Napic), industrial property transactions were up y-o-y in terms of both value and volume in the first half of 2021, spurred by the surge in e-commerce that drove demand for more warehouse space.

“At the same time, we are committed to delivering relevant offerings suited to current market sentiment and demand.”

Lee is hopeful that the gradual resumption of businesses and removal of movement restrictions will enable the company to jumpstart its hospitality and leisure business.

“We will continue to leverage marketing activities to cross-sell our leisure and hospitality brands portfolio to drive visitation and revenue.”

Lee says technology has been an effective tool in transitioning IOIProp’s operations to digital and propelling its reach to home buyers in the midst of lockdown measures.

“As a group, we are cognisant of its potential as a strategic platform to explore new avenues for business continuity.

“We are eager to incorporate more of it as a key enabler for business efficiency as well as innovative design concepts to suit new norms in working and living.”

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