Placemaking Ingenuity Makes It Happening

Placemaking Ingenuity Makes It Happening

Creating vibrant spaces for the community

Placemaking is still a relatively new definition for the property industry in Malaysia. It refers to the creation of vibrant areas within a township or development that promote the health, happiness or well-being of its residents, encouraging interaction among residents and visitors as well as the establishment of place identity.

It was a term that holds the promise of transforming the stark urban jungle into vibrant, livable communities. Examples of placemakers include theme parks, pet-friendly parks, hangout food and beverage areas and Instagramable venues. 

But placemaking is not just about physical changes. It is about fostering a sense of belonging. People are social creatures and they do not just want a place to live, they want a place to call home.

Over time, placemaking became a buzzword in the property industry. It was no longer enough to build towering structures and developers now needed to build communities. Communal spaces became as important as square footage and price per sq ft. It is a beacon of hope, a promise of a brighter, more vibrant future. As more developers embrace this philosophy, Malaysia's urban landscape is undergoing a transformation that will be felt for generations to come.

As such, for this attribute, points are allotted to:

  • Concept and objective of the placemaking, including the inception of the big idea behind the placemaking venue. Developers need to show the unique selling points (USPs) that are highly appreciated or valued by residents.
  • The realisation plan is worth four marks. This includes the design planning and architectural features, unique strategies adopted and an explanation of how the concept and design are realised via the strategies applied.
  • The branding and marketing strategies adopted to create awareness and their impact on the success of the project.

TOTC quantitative rankings - Placemaking Ingenuity

In the RM1bil and above category, IOI Properties Group  Bhd takes the cake, scoring a whopping 8.3 points out of 10, the highest score for this attribute. In the below RM1bil category, Paramount Corporation Bhd took the pole position, along with Glomac Bhd. Both companies scored 8.0 points out of 10. 

Source: StarProperty