Property Hunter Magazine October Issue 2014 | Page 50

/// Feature Property Event

There are many attractions
to lure people to live in areas
outside Kuching like less
traffic and more space but we
have to build a better Kuching
first with Kuching city centre
as a core development area,”
he says

A family legacy
in property investment
and continue to live by this principle till today.”
Following in her grandmother’s footsteps,
Josephine has built on and diversified her
investment portfolio to include all kinds of
properties in diverse geographical locations. It
is a befitting continuation of her grandparents’
rags to riches story that continues to inspire
her and a whole generation of family members
to place their trust in property investment
as one of the most secure ways to financial
wealth.

There is still room for development in Kuching
a nd although housing prices have gone up, it
is still within reach of the majority of property
investors. According to Chai, about 20% of
buyers of Kuching Riverine Resort are from
outside Kuching like Bintulu, Sibu and Miri with
some keen interest shown by investors from
Indonesia and Singapore. They fall mainly in the
40 year and above age group who are able to
afford the average RM600,000 to RM700,000
per condominium price tag.
The growth rate in Kuching is around 6%
- 8% per year due to urban migration and
business development but this increase has
not warranted a tremendous acceleration of
property development, adds Chai.

Kuching: Waterfront city on the rise
Soaring high above the city is the iconic Kuching
Riverine Resort consisting of four 22-storey towers
housing condominiums with full facilities to cater to
the selective taste of new Kuching urbanites.
Phase 2 of the project is nearing completion, and
with its enviable location right beside the Sarawak
River, is set to raise the bar of condominium
living and lifestyle to new heights in this laid-back
waterfront city.
High-rise accommodation is slowly taking root
despite still strong preference for landed property
in Kuching which account for about 60% to 70% of
property buyers. Chai King Sing, general manager
of IJM Land (Sarawak) is confident Kuching Riverine
Resort is able to capture a sizeable portion of the
30% who will be looking into investing in strata title
products such as condominiums, town houses and
apartments.

Chai King Sing, General Manager (Sarawak), IJM Land
Kuching, Sarawak

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“We have to instil confidence in our potential
buyers by offering top-notch service and a soughtafter lifestyle. This means facilities like swimming
pool, gym, restaurants, and a waterfront esplanade
which is a highlight attraction of the property.
Security is also a key deciding factor when people

want to switch from landed to strata property and
we have this covered to a high standard,” says Chai.
Another huge plus point of the gated and guarded
Kuching Riverine Resort is its superb location.
Sandwiched between the languid Sarawak River
and city skyline, it offers residents unparalleled
panoramic views to complement the trendy
ambiance of the waterfront esplanade.
Chai also points out the many of Kuching’s
residents have made the move to the city’s suburbs
like Tabuan Jaya and Matang previously.
vibe in Kuching needs to be revitalised to make it
a vibrant city where locals and tourists can enjoy
a lifestyle that embraces the unique geographical
and cultural features of the city.
“There are plans to develop Kuching’s waterfront
into a leisure and entertainment hub and we
will be right in the middle of it. We are in a good
location to take advantage of this new and ongoing
development and am able to contribute to it by
meeting the demands for a secure place to live in
that is also convenient, modern, and stylish.”

IJM Land is one of the early condominium
developers in Kuching and has seen its
investment paying off as more Kuching
residents are buying into the high-rise lifestyle.
The convenience of living in a ready community
with essential facilities and needs within easy
reach is starting to take firm foothold. As the
community continues to grow and mature,
more businesses will open up to cater to more
discerning lifestyle aspirations.
This waterfront city is set to take on the
challenge of becoming a top choice destination
to live, work and have a really good time!

On the property market in Kuching, Josephine
holds local property developers in high regard
especially in their commitment to build a wellplanned city.
“The Sarawak property market is slow and
steady but it is very firm. It is not as fast as
Peninsula Malaysia but it is gaining pace and
momentum,” she adds.
Josephine Chong (Mrs.), Manager (Sales & Marketing),
IJM Land Kuching, Sarawak

Life was hard and hard choices had to be
made to get by. When he got married, he even
had to borrow a wedding ring from an aunt to
put on his wife’s finger but it was a marriage
that would define a legacy that lives on till
today.
Josephine Chong remembers how her
grandfather had to struggle in the pre-war old
days in a small town in West Malaysia where
he grew up but it was her grandmother who
had the upper hand when it came to making
money.
“She was illiterate and could not read or
write but taught herself numbers and simple
Arithmetics. Thus in her own simple way,
she managed to keep an account of all the
business transactions that she did,” muses
Josephine.
She was a strong, frugal and hardworking
woman who dabbled in all kinds of small
businesses to save up enough money to
invest. And what she invested in was property
from land to shophouses, cemetery, rubber
estate, fruits orchard, coconut plantation and
paddy fields.”
Josephine credits her grandmother’s steadfast
determination and razor-sharp business
acumen as the greatest influence on her
interest in property investment and a career
with top property developer, IJM Land.

Kuching city is well-planned and beautifully
laid out which is due to the contributions
of local property developers, architects and
government planners. They have done a good
job and a great service to the city to ensure
that it is a liveable and attractive city.
Property prices have appreciated over the
last ten years and we are beginning to see
more overseas investments coming into
Sarawak, especially in the Sarawak Corridor of
Renewable Energy (SCORE).”

Following in her
grandmother’s footsteps,
Josephine has built on and
diversified her investment
portfolio to include all kinds
of properties in diverse
geographical locations. It is a
befitting continuation of her
grandparents’ rags to riches
story that continues to inspire
her and a whole generation
of family members to place
their trust in property
investment as one of the
most secure ways to financial
wealth.

“She started from zero but she had this
remarkable foresight and belief that investing
in property was the way to make money. I
became aware of this from a very young age

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