Developers in Malaysia are exhibiting further commitment to environmental preservation with more green-building developments. These joint ventures highlight continued efforts towards environmental sustainability in the country.
There are a number of advantages to joint ventures (JVs). Besides providing companies with the opportunity to gain new expertise, they also allow businesses to break into new markets or gain new technological experience. JVs also offer a way for companies to diversify their investment and share risks with another company.
Green Beverly Hills
Green Beverly Hills is a development that spans 350 acres. The development will include low-density housing, high-rise condominiums, a five-star hotel and a shopping mall. The entire development will also be surrounded by water, making it a unique inland island.
The project is the result of a JV between GD Development Sdn Bhd and China's Debao Property Development. Inspired by California’s Beverly Hills, the project aims to create a luxurious and green living environment in Putra Nilai – just a 40-minute drive from downtown Kuala Lumpur.
The emphasis is on providing residents with the highest standard of living while preserving and enhancing the natural landscape. Green efforts include setting aside 70 acres to remain as pristine forest, an organic farm that spans four acres, conservation of natural lakes and a water management and recycling program.
Sanctuary Ridge Kuala Lumpur City
Sanctuary Ridge Kuala Lumpur City – a 38-acre, low-density community located just five minutes from Bangsar – will consist of 69 units on 1765-square-metre blocks of land. The project is a joint venture between PanaHome Malaysia Sdn Bhd (a subsidiary of the Panasonic Group) and Gasing Meridian Sdn Bhd, a company which has already seen international success with the building of Sanctuary Lakes in Melbourne, Australia.
By 2015, the joint venture is expected to result in the building of a show house of about 8000 square feet that will showcase PanaHome’s Three Unique Technologies and other eco-friendly housing solutions.
A joint venture between China's Country Garden and Mayland (Malaysia Land Sdn Bhd), Diamond City comprises 415 units of luxury link houses, bungalows and mansions worth about RM710 million – 70 per cent of which was reportedly sold within the first week of launching.
Located in Kajang, Diamond City will be within easy reach of Kuala Lumpur and just five minutes from the commercial centre of Semenyih. Despite its proximity to major commercial areas, the development looks to also be an island of tranquility for residents, who can enjoy luxurious living in a natural environment.
Besides aiming to be a luxury sanctuary for residents, Diamond City also includes many sustainable and environmentally friendly elements. Green-development initiatives include:
- Adherence to Green Building Index (GBI) standards.
- Encouraging the use of recycled construction materials.
- Use of solar electricity.
- Maintenance of existing terrain to minimise excavating.
- Inclusion of large green areas.
Aside from the above JV examples, we can see that green building is quickly spreading throughout Malaysia. With the country’s commitment to reduce carbon emissions per GDP by 40 per cent by 2020 (as compared to 2005 levels), as well as tax incentives for developers who obtain GBI certification, property developers in Malaysia are even more encouraged to go green with their future projects and partnerships.