Image source: nct.net.my

Boutique property developer, NCT Group of Companies, is riding the tourism wave in Melaka and Genting Highlands amid the slow property market in Malaysia.

As one of the biggest contributors to the tourism industry, Datuk Seri Yap Ngan Choy, Founder and Group Managing Director of NCT, says that the tourism industry is experiencing robust growth, which bodes well for the Group.

In a recent interview, Yap announced that the Group has several projects in the pipeline focusing on Melaka and Genting Highlands. He said, "I am confident that there will be plenty of opportunities for NCT to capture in the industry. We look forward to help grow the industry while growing alongside it.”

The developer further announced that they will have 3,000 rooms in Genting Highlands come 2023, to cater to the higher influx of visitors upon completion of the Genting outdoor theme park which is slated for the third quarter of 2021. "We are already well on our way to widen our foothold in Genting Highlands. First, we have the Grand Ion Delemen, a five-star luxury boutique serviced apartment.

“We also have Gloria Residences, a chic hotel residences and G-Luxe by Gloria which will have its soft opening on November 11, 2019. On top of that, we are also developing the RM1.3 billion Grand Ion Majestic, 1,885-units, that is located right next to Grand Ion Delemen.”

He further added that the increase in visitors to Genting Highlands will potentially translate to a higher occupancy rate for the company.

On the southern end in Melaka, the Group will be part of the refurbishment plans on the Melaka Planeterium. They plan to commence the project in the first quarter of 2021.

Also in the pipelines for Melaka is the development of the Ayer Keroh Country Club (AKCC) approximately 10 minutes from the Ayer Keroh toll, which is expected the draw in the tourist crowd visiting Melaka.

On the country club, Yap declared that, “As a country club, the AKCC will comprise amenities such as F&B, golfing, leisure and entertainment facilities, sports facilities and banquet facilities.” He further added that AKCC will include a water theme park, and medical and healthcare facilities.

Yap did however say that due to the property overhang in Malaysia, it will be some time before the property market begins to see significant growth. He is however confident that with steady economic growth coupled with fresh housing policies and incentives to boost affordable housing, the property market will continue to be resilient. 

(17 January 2020)