TAHPS Group Bhd, which has been rebranded to Ayer Holdings Bhd,is upbeat that property demand will return in the second half of this year on better domestic sentiment and economic growth.
Group chief executive officer Eugene Khoo Kong Hooi said the country’s economic performance is on track and this could translate to consumer confidence.
This, in turn, is expected to spur demand for housing, he said at the Ayer Holdings rebranding launch in Puchong last week.
Khoo said Ayer, via its property arm Bukit Hitam Development Sdn Bhd, plans to launch affordable landed and high-rise units in Bukit Puchong.
On the rebranding, Khoo said it is important for people to identify the group as a real-estate brand.
“When we reached our centennial 11 years ago in 2007, we changed our name to TAHPS Group as the original name was quite a mouthful. Since then, we realised we needed greater clarity as many continued to call us Ayer Hitam or Bukit Hitam, which is our subsidiary and developer of Bukit Puchong.
“When we reached 110 years old last year, we decided to rebrand ourselves into a brand which stakeholders can immediately identify with and to differentiate ourselves further.”
Khoo said Ayer has a track record of delivering on time and on budget, as well as a history of solid, steady growth.
The group holds the largest freehold undeveloped landbank in Puchong of about 243ha within its Bukit Puchong township and surrounding neighbourhood.
Khoo said the group’s offerings will now be branded under Ayer, adding that Bukit Puchong will be called “Bukit Puchong by Ayer”.
The group has, to date, built about 7,000 homes, commercial units and industrial buildings in Bukit Puchong.
Its Andira Park Phase 1 and Phase 2 launches last year had customers queuing up overnight to get choice units.
Khoo said the group will have more launches and activities for Bukit Puchong this year.
“We are in the advanced stage of planning with consultants for a ‘refreshed’ township,” he said.