Genting Highland And Prospect Of Property Investment There

GENTING HIGHLAND AND PROSPECT OF PROPERTY INVESTMENT THERE

History of Genting Highland

Located in the Bentong District, around 50km away from Kuala Lumpur, Genting Highlands is located right at the Pahang and Selangor state border. Surrounded by lush greenery and beautiful tropical forest, Genting Highlands is situated at an elevation of 1,800 above sea level and has become one of the most vibrant entertainment area within Malaysia.

This was all made possible when the late Tan Sri Lim Goh Tong came up with the ambitious and seemingly impossible plan after a visit to Cameron Highlands. The first developments were a hotel and casino, which has become the main attraction for Genting Highlands since its inception. Large amounts have been invested, including the infrastructure that improves overall accessibility, the number of luxurious hotels to accommodate the increasing tourists, as well as the development of recreational and amusement facilities such as outdoor and indoor theme parks.

Apart from housing the only casino in Malaysia – Casino de Genting, Genting Highland also has the world’s fastest and Southeast Asia’s longest gondola lift (total of 3.38 km long) called Genting Skyway, connecting Gohtong Jaya with the Maxims Hotel. Furthermore, the outdoor theme park has been upgraded into the first ever “20^th Century Fox Theme Park and Studio” in the world, further increasing the entertainment facilities for visitors. After sunset, performance avenues such as the Arena of Stars and Genting International Showroom comes to life and plays a host of performances featuring some of the biggest names in comedy, theater, music and etc.

Last but not least, there are also various venues for those seeking a more relaxing vacation. Some of the attractions include the Genting Strawberry Farm, Chin Swee Caves Temple, Highlands Mushroom Farm, Vegetable Farm, Day-lily Farm and the Mohamed Noah Foundation Mosque. The first hotel in Genting Highlands by the Genting Group was called the Highlands Hotel and is now known as the Theme Park Hotel. The subsequent hotels that emerged include the First World Hotel, Genting Grand Hotel, Awana Hotel, Resort Hotel, Maxims Hotel and Ion Delemen Hotel.

Potential growth

The opening of the Premium Outlet and the presence of the 20^th Century Fox World theme park will most definitely boost tourist numbers in the area. According to Affin Hwang Capital research, Resorts World Genting is expected to record 30 million visitors annually by 2020, which is around 2.5 million per month. The projection was based on an annual growth of 9.2% from the 19.3million visitors in 2015.

Apart from tourists, the increased facilities implies a need for labour. Just recently, a three-day job fair was just held at the Wawasan 2020 Grand Ballroom of Awana Genting Highlands Golf & Country Resort, offering a total of 1,500 job opportunities for the Genting Highlands Premium Outlets Centre. The increased number of tourist as well as the employees equals an increased demand for accommodation. This bodes well for the property market in the region as property investment in the area will become that much more attractive.

Genting Highlands is a small tourism and entertainment ‘city’, with the casino and theme park at its center. Most if not all buildings are connected with a number of linkways such as underground tunnels and escalators, with signage making it easier to navigate. For those staying further away, there are also shuttles arranged frequently to bring guests to the entertainment district.

Property investment prospects

It is easy to conclude that the closer a property is to the central area, the higher the property value, with value decreasing the further away a property is located. However, as Genting Highlands further develops, many amenities, tourist spots and facilities will be setup elsewhere as land is already limited in the central region. For example, the Genting Premium Outlet is actually around 17 minutes away (or 7.8km driving distance) from Casino de Genting, which is even further south than Chin Swee Temple.

As Genting is a tourist and entertainment area, the properties developed are either hotels or serviced apartments. Among the available hotels, the three-star First World Hotel boasts the most rooms, a total of 7,351 rooms; Genting Grand and Maxims Hotel are the only two five-star hotel situated in the central district of Genting. Awana Hotel on the other hand is located further away from the rest in the south, with its own Golf and Country Resort just beside it. Further up north, there is Ion Delemen, a fresh five-star hotel and serviced apartment developed by the NCT group that is around 2 – 3 km away from the central entertainment district.

Despite the distance away from the entertainment district, it can be seen from various online hotel booking sites that the total number of bookings does not pale in comparison to the ones close to the entertainment region. This can be attributed to the increased exposure to serenity and more greenery as the north does not get frequented much. Apart from that, since shuttles are provided to transport guests to the entertainment city center.

Besides KLCC, being the best location for property investment in Malaysia, Genting Highland is the next best location.

Analysis from feng shui perspective

When looking at Genting Highlands, it is not hard to see that this is a place that emphasizes on Feng Shui. Besides the beautiful scenery, it also has an overall good feeling experienced in Feng Shui, which means the Qi (Chi) of the location is good. The place emanates a good flow Qi, an energy force that includes the movement and quality of air, the earth’s magnetic field, the gravitational pull of the moon, sunlight, and all physical objects, nourishing the environment and all around it.

Additionally, Genting Highlands was built with the Yin & Yang concept in mind, with the developments of various types of entertainment facilities such as the casino, theme parks and other more calming leisure activities, the equilibrium of the entire region achieves a balance.

Similarly, the natural beauty of Genting that is surrounded by lush tropical forest makes it easier for developers to plan and design so that the development can be balanced within the Five natural elements of Water, Wood, Fire, Earth and Metal.

One of the developments that has fully utilized the five elements of Feng Shui is ION Delemen Hotel and Serviced apartment. The development is situated directly in the middle of balance and perfect harmony. The site of the development is surrounded by five mountain peaks, which is akin to being embraced in the centre of the palm, offering protection from all sides as well as bringing good energy into the development.

Conclusion

If you’re interested in investing in Genting Highland, check out Ion Delemen development, one of the most promising development in Genting Highland. Investors of this project can leverage on Resort World Genting’s vested interest to develop the facilities and amenities for the purpose of enhancing their “City of Entertainment”. In addition, the developer has also managed to engage on of the world renown hotel operation, Best Western Premier, to lease back the units from purchasers, and further manage it as hotel units.