Chang Foo Wah, Marketing Manager of Akisama
In the last 10 years, the world population has increased significantly to 8 billion people and is targeted to reach 10.4 billion by the 2080s. Due to the advancement of medical technologies, a higher survival and longevity rate has been created, contributing 22% of silver citizens (above 60 years old) to the global census in the year 2022, compared to 12% in 2015. With the number of individuals needing housing up by 14.2%, the fight for land and more space has become more aggressive. However, there is only so much land available for building.
Urbanisation has traditionally been accompanied by horizontal urbanisation, which is the process by which buildings spread outwards across the ground, increasing the area's overall surface area. To combat this issue, Malaysian developers fell in line with the global trend of vertical urbanisation, which looks to build upwards instead. This idea is based on the fact that doing so allows you to build more within a smaller area of land.
The Benefits of Vertical Urbanisation
Building upwards allows for urbanisation using a smaller area of land, which allows for more efficient energy usage and conservation of our environment and climate by a vast margin. Construction and building of single detached dwellings would require much more space as compared to building upwards, which would then lead to more trees being cut, destroying nature and causing environmental damage.
So why don’t we build upwards instead? In addition to the much-needed saving of our environment, conversing land and natural resources, dwellers will also enjoy unobstructed views, less noise, and better air quality as benefits of living on higher floors than on ground level.
Healthy Living Needs Post-Pandemic
In 2022, the average Malaysian household reports 3.5 – 4.9 individuals depending on the district. Based on this census, the ideal space required for healthy living is between 1,800 and 2,800 square feet to provide sufficient breathing space for the family's physical, mental, and emotional well-being. However, such philosophical epitomes are not feasible in a post-pandemic economy where inflation has jumped from 4.4% to 127.4%. Construction material prices of concrete and c-purlin alone have jumped 32% and 95%, respectively. Due to this, Malaysian home prices are forecasted to increase further by 5% – 20% before the end of the year.
This leads to the population prioritising cutting expenses where possible. Thus, the Malaysian government has initiated multiple subsidies and aids to combat its citizens' financial homeowning worries and increase single-family housing by 3.6% nearing the end of 2022. With this progressive building vertically, the citizens of Malaysia will now have the opportunity to enjoy sufficient living space. Soon, our country will be filled with vertical cities that are on par with modern cities throughout the world.
On another note, we are not in the clear yet when it comes to the COVID-19 pandemic. Even though the draw of shopping and celebration has lured the masses out to shopping malls and entertainment centres, most of the Malaysian workforce are still reluctant to travel long distances to the office or venture out unnecessarily. It is a phenomenon that has made establishing businesses in communities that are convenient for work and lifestyle a no-brainer.
High-Density Living Report
Overshadowing issues such as strain on resources that lead to food shortages and congestion is the need to cultivate a healthy community that will contribute to the country's economic growth. It starts with lowering per-capita energy composition and the need to adopt an overall greener lifestyle. High-rise buildings have a lower carbon footprint since its high-density housing yields greater utility efficiency. Water and electricity require shorter travel distances to reach their targeted destination, while shared facilities lower the amount spent on purchasing the home and their maintenance fees due to economies of scale.
Business owners will also take advantage of the high population density to capitalise on the revenue opportunities that come with more people living per square foot of land. This migration of specialised and general services will come from conveniently located grocers and education centres, entertainment hubs, and easy access to major logistics routes.
On top of this, the trend of the younger generation of home buyers looking for dwellings and leisure within the same vicinity is growing. They want to enjoy the convenience of having numerous services and amenities within these mega towers as it would reduce the need for driving, thus reducing emissions associated with cars as well as saving the dwellers’ money.
Therefore, vertical buildings could help solve some of humankind's biggest challenges, so the effort is extremely worthwhile to enable a critical mass of people to become a vibrant society that is the catalyst that directly encourages higher living standards by creating more job opportunities and larger supply stockades.
High Rise Condominiums to Look out for in 2022/2023
Addressing the pain points of its target market, several developers are currently in competition to develop suitable homes that will serve its modern community well. Top on our list are RC Residences Kuala Lumpur, M Vertica, and Lavile Kuala Lumpur. All three are located in the heart of a thriving housing area. Surrounded by three major highways - the Sungai Besi Highway (Besraya), Kuala Lumpur-Seremban Highway, and the North-South Expressway, their location is conveniently accessible. For inhabitants who prefer to travel by public transport, they are provided with endless choices, from the Salak Selatan, Chan Sow Lin, and Cheras LRT stations to the Salak Selatan KTM stations. The much-anticipated KL-Singapore High-Speed Rail Station will be just a stone’s throw from the condominium.
Continuing in the fashion of convenience, all three of these projects are just a short distance away from Mid Valley Megamall, Pavilion, MyTown, IKEA Cheras, Viva Home, Leisure Mall, Sunway Velocity, and AEON Maluri. Five minutes further away, KLCC, KL Tower, and The Exchange 108 are easily reachable. Surrounded by more than five schools and two universities, the shophouses in the area also boast a host of educational centres. Not forgetting the community’s health, they are cared for by the Prince Court Medical Centre, Hospital Universiti Kebangsaan Malaysia, several homegrown clinics, and Chinese Medical Halls. Last but not least, these developers have prioritised security by placing their projects RC Residences Kuala Lumpur, M Vertica, and Lavile Kuala Lumpur within a 5km radius of three police stations.
