Indonesia Important Target Market for Wing Tai
INDONESIA holds an important role for Singapore. At least Len Siew Lian, general manager of property of Wing Tai Holdings Limited, a Singapore stock market-listed company, is convinced of this. “Most of our property customers are from Indonesia,” she said during the launch of the company’s two newest products, Helios Residences and Le Nouvel Ardmore on July 4, 2011.
Indeed Indonesia is an important target market for Singapore. According to Len Siew Lian only 45 percent of Singaporeans purchase properties in the city state while 55 percent are foreigners. Out of the 55 percent about 60 percent are Indonesians.
However these foreigners, including Indonesians, prefer extraordinary or superior products that have a unique concept and strategic location. Helios Residences, for example, is located at Cairnhill Circle, which is very close to Orchard Road, Singapore’s most prestigious area for first class malls and entertainment centers. The recently revamped Orchard Road has a number of new malls and an integrated resort at Marina Bay. Among the new malls are ION Orchard, 313@Somerset, Paragon and Orchard Central.
Helios Residences is a two tower condominium each having 20 floors and a total of 140 units, covering a total area of 80,000 square feet. Helios Residences has been designed by Harold Guida from Guida Moseley Brown Architects, Australia. “If I may say so this is one of the most prestigious projects at the right location with a freehold ownership status,” said Len.
Another property developed by Wing Tai Asia is also just as unique. Belle Vue Residences is a five floor condominium designed by Toyo Ito & Associates of Japan. It stands on an area of 250,000 square feet and its organically-shaped unit layout offers more windows and natural lighting.
Meanwhile Le Nouvel Ardmore is a 33 floor condominium having 43 units with free hold ownership. This property is located at Ardmore Park, the classiest location among upper class Singaporeans. The architect is Jean Nouvel of France who won the Pritzker Prize Laureate. “This condo is a combination of natural greenery and city life, education and entertainment, the past and the future,” said Len Siew Lian.
According to Len, Wing Tai is always keen on using world class architects for its properties. Based on its collaboration with leading architects and designers Wing Tai is famous for its unique architectural designs and breakthroughs as well. Next to Jean Nouvel, Toyo Ito and Harold Guida the company has also collaborated with a number of other renowned architects and designers: from Pei Cobb Freed & Partners and also Pritzker Prize winner from the United States I.M. Pei (for The Tomlinson, Singapore); Arquitectonica International which is based in Miami (for W Square, Hong Kong); an architect company Foster + Partners in London (Tai Po project, Hong Kong); lighting and design consultant L’Observaitoire International in New York; and a famous interior designer Atelier Ikebuchi.
With the company’s various hi-end properties Len feels confident that many investors will be naturally drawn to Wing Tai’s products. “Our customers always seek Wing Tai’s products due to their strategic location, high quality and timeless design,” said Len, who started her career in the property world at Jones Lang Wootton in 1988 as a property officer.
After only one year at this property consultant company in 1989 she moved to the property division of Wing Tai. Wing Tai was established in 1955 in Hong Kong and has been operating in Singapore since August, 1963. Wing Tai Holdings Limited itself is a leading property developer in Singapore.
This company, which has been listed on the Singapore Stock Exchange since 1989, is a parent investment company that focuses its business on Asia’s growing market. The main business of WingTai Asia Group, which is comprised of Wing Tai Properties Limited in Hong Kong and Wing Tai Malaysia Berhad in Malaysia, includes property development and investment, hotels and lifestyle retail. Wing Tai’s total assets are over S$3 billion and its property products are in strategic locations.
Len Siew Lian indeed started her career at Wing Tai from the bottom rung of the ladder as she was involved in office leasing and retail. Due to her dedication and perseverance she rose through the ranks and today she is General Manager for property. “I have always liked properties. And, during all these years I have enhanced not only my experience but also my knowledge,” said Len who has a Bachelor of Science (Estate Management) degree from National University of Singapore as well as Advanced Management Program at Harvard Business School.
Prior to her current position Len was General Manager (Marketing) at Wing Tai Property Management and she had to supervise the company’s marketing and product launches. At present her duties are indeed not easy because she is responsible for sales and marketing of properties. “I am also responsible for business expansion as well as investment management in this group of companies,” said Len.
Indonesia is not yet Wing Tai’s expansion target, at least not in the near future. “But by continuously monitoring market trends and demands as well as the various available opportunities we have strategically spread our wings in Asia,” said Len Siew Lian. (Burhan Abe)
The Jakarta Post, July 16, 2011
