WITH real estate playing a key role in the nation’s economic growth, existing property development businesses
have been on an expansion mode with many existing and new landbank owners entering the market to capitalise on the opportunities.
In tandem with the rise of this potential income stream, attracting and retaining capable talents who understand the value chain of the property development business has also suddenly become an imperative requirement. But the challenge to hire the right people is only the beginning of an arduous journey, especially for corporations whose core business has never been in property development.
The proverbial iceberg will then slowly unveil itself. As if suffering from the heat of global warming, the iceberg melts to uncover the many permutations one has to understand before reaching the holy grail. But as high talent turnover in the property industry has been a costly affair, the costs of hiring newbies may not be as prudent as one might have thought given that time is the ultimate sacrifice a company has to endure before these new babies become fully familiar. The stress is in fact double if the management team themselves are inexperienced or completely new to property development.
Media Title: New Straits Times
Date: 20 Dec 2018