Despite the government’s movement control order (MCO), some property developers – particularly those that have prepared their digital platforms earlier – still managed to register sales.
IOI Properties Group saw RM180 million in sales domestically during the MCO period, while Mah Sing posted RM40 million in sales during the first two weeks of April, reported The Star.
“Digital sales have been encouraging mostly from domestic buyers; we have always believed that the shift from the traditional brick-and-mortar way to the digitalisation of our sales process is inevitable,” said Mah Sing Chief Executive Officer Datuk Ho Hon Sang.
The company has put up digital platforms across its operations for data analytics, vacant possession, defect and management.
Sales initiatives taken include ramping up its incentives for buyer, digital campaigns, viewing of virtual showrooms as well as training of the company’s sales team through video conferencing on the Microsoft teams app.
Its internal sales force was also boosted via partnerships with external sales agents with larger network prior to the MCO.
To position the company for future sales, Mah Sing entered into tie-ups with players in the digital boom like Lazada, Fave and Ringgitplus.
The company also plans to strengthen its digital marketing by streamlining its processes from awareness to bookings as well as conversations within a single platform.
Thereafter, it intends to digitalise home ownership journey – starting from sales and marketing, construction management to quality assurance, customer experience as well as property management.
“Our commitment to adapt and leverage on the strengths of innovative marketing strategies has enabled us to weather the storm during this MCO,” said Ho.
While the COVID-19 pandemic has slowed sales in Johor for IOI Properties Group, those in the Klang Valley were not significantly affected by the MCO. In fact, some of their products were sold faster during the MCO period due to the company’s aggressive sales packaging.
The in-house digital marketing team of IOI Properties was set up four years ago. With the help of its e-Marketing platform, the company plans to speed-up sales via analytics aided by artificial intelligence features.
The high-end segment accounted for most of IOI Properties’ sales in Johor, while properties priced from RM350,000 to RM800,000 proved popular in the Klang Valley.
Although affordability is affected by unemployment, pay cuts and business stoppages, there are still some people who may be relatively unaffected such as government servants and those on the lookout for more attractive investment yields.
This is especially true in the present low interest rate environment, which is expected to continue in the next one to two years, said IOI Properties.