2020 was a year unlike any other. Despite the unprecedented challenges, MRGPA are delighted to announce several exciting projects we’ve been working on, looking to 2021 and beyond.
Despite the challenges 2020 has brought, we have been busy collaborating with our clients to source talented real estate individuals for several projects in the pipeline and as a result, we are delighted to announce we have renewed the Lendlease RPO for 2021. Some of the projects we have been involved in over the last year include: -
The Exchange TRX -Lendlease's largest integrated development in Asia, located in the heart of Kuala Lumpur, Malaysia. Complementing TRX City Sdn Bhd's vision to transform the broader TRX precinct into a world-class business and financial hub, this landmark, mixed-use development will encompass a new international financial district underpinned by a world-class residential, retail, leisure and cultural offering. We have seen an increased need for talented project execution, contract & Commercial management and corporate professionals to become a part of the 10.5bn MYR TRX living quarters project.
We’ve also seen a substantial increase in demand for asset management professionals to join the Setia City Mall suburban retail development phase 2. Setia City Mall is a joint venture between Malaysian property developer S P Setia and the Asian Retail Investment Fund, a wholesale fund managed by global property and infrastructure group, Lendlease. With over 740,000 square feet of Net Lettable Area, over 2,500 car parks and over 240 retailers spread across 4 levels, the mall is the destination of choice for shopping, dining, entertainment, and park life in the area.
We are also delighted about the recent work completed with NEOM, as they embark upon one of the world's largest and most complex infrastructure projects. Based in Saudi Arabia, this new green hydrogen project is the first exciting step to grow and diversify the Saudi economy with a huge renewable energy initiative that will benefit the economy, creating jobs and creating a beacon for the future of urban living and development. Having successfully placed a key Exec Director, five further Directors, and winning the mandate for another five future roles, MRGPA are excited to see what the future brings.
There has naturally been a steady slowdown in traditional property development due to Covid 19. However, we’ve been working closely with REIT’s and fund’s across Asia who are deploying funds and acquiring depressed assets and seizing opportunity.
We’ve seen despite the issues faced in 2020, that the economy has grown albeit slowly, so we are expecting a bounce back across Southeast Asia as things return to normal. Judging by the property investment industry, which has not suffered irreversible damage, we can hope for a quick bounce back this year.
Covid has no doubt had an effect on our markets but the Malaysian government has implemented Movement Control Orders, which have had great success as a preventative measure in keeping the rate of Covid transmissions substantially low. We are continuing our work with international real estate advisory, development, investment, and construction organisations across Southeast Asia, and we expect to see a return to expat hiring in Q1, Q2 and beyond.
As always, we are happy to speak to senior clients and candidates – please get in touch with Olly Piltz @ Olly.Piltz@mrgpeopleasia.com