Takaso Resources was subsequently renamed O&C Resources Bhd and it diversified into the construction and property sectors to boost its earnings.
Sales and marketing director Emily Ong says OCR Land has gained experience in developing different types of properties — industrial, commercial, landed and high-rise — since its establishment.
The company brands itself as a boutique developer and its focus has been pocket-sized developments in the Klang Valley, especially Petaling Jaya. However, Emily says the company is looking to venture into township developments.
Its landbank has grown to 46 acres, with a total gross development value (GDV) of RM2.3 billion, across the country.
“While we are going for township projects, we still want to keep our identity as a boutique developer,” she says. “We are now only in the Klang Valley, but we don’t limit ourselves. We have land in Melaka, Kuantan and Johor.”
She says one of the projects will be a mixed-use development in Melaka, which will adopt an eco-tourism concept. It will be rolled out in three years’ time but she declines to give more information.
OCR Land was founded by chairman Dr Ong Kim Chong in 1989 as a property holding company. It officially ventured into property development in 2001 with the launch of the 53-unit Dahlia Villa near Bandar Utama.
Kim Chong, who is Emily’s father, is a former lecturer at the Science Faculty of Universiti Malaya. He obtained his doctorate in microbiology from the University of Bath, the UK.
Apart from Emily, Kim Chong’s other children are also involved in the family business, including managing director Billy Ong and project development director Kevin Ong.
To date, OCR Land has developed at least 15 projects with a total GDV of more than RM630 million. Among the completed residential projects are Casa Utama Townhouses, Beverly Residence, Eastwood Terrace, Chestwood Terrace 1 and 2 as well as Westwood Terrace 1 and 2.
One of its notable luxury residential projects is the gated and guarded Palm Reserve in Damansara Jaya, which was launched in 2009 and completed in 2011. This project comprises 3-storey semi-detached houses and bungalows with clubhouse facilities.
Then, OCR Land gradually ventured out of its comfort zone to undertake projects in Petaling Jaya as well as other types of developments, including high-rises such as the freehold Residence 8, which consists of 308 dual-key units on Jalan Klang Lama, in 2008.
Another completed high-rise project is Boulevard Residence in PJU 6A, Damansara. Launched in 2011, the 2.3-acre project comprises two blocks with 300 residential units. Both projects are fully sold.
OCR Land has also developed a commercial project in Kelana Jaya — a small office/home office block called PJ5 SoHo. Launched in 2009, it comprises 136 SoHo units with facilities such as a swimming pool, sauna and gymnasium. The units are fully sold.
The developer’s ongoing project is Flexus @ Jalan Kuching, which offers 286 SoHo units with built-ups of between 451 and 981 sq ft. Launched in 2014, it is scheduled to be completed by 2019.
Coming up next is a mixed-use development called The Pano on Jalan Ipoh Batu 3, Kuala Lumpur. It is slated to be launched by the end of September.
Emily tells The Edge City & Country that The Pano is a leasehold project with a GDV of RM200 million. It will comprise 363 units of serviced apartments and eight retail units on a 1.82-acre site.
OCR Land, she adds, will be keeping the retail units — a total space of 10,000 to 15,000 sq ft — so as to control the tenant mix.
“There are 16 designs for the serviced apartments, with build-ups of 609 to 1,800 sq ft. So, they are suitable for single individuals and families,” she says. “We also have units with private gardens, duplex and dual-key units. So, our target market is everyone."
"Furthermore, the development is not very big compared with nearby projects that have 1,000 units or more. The Pano will comprise only one block with two wings ... it is considered a low-density project.”
The average selling price of the serviced apartments is RM800 psf.
Kevin says the name of the development is derived from the word “panorama” and the company hopes to convey the message that residents will be able to enjoy views of the city. Facilities will include a swimming pool, infinity pool, sky gym, sky dining area, sky deck and sky barbecue area.
“The initial plan was to develop the tallest building in that area with more than 30 storeys. But now, we can only build 26 storeys due to the limitation on density,” he says.
“However, residents will still have a good view of KL at this height. We are also installing a glass elevator so that they can enjoy the view on their way up to the facility floor at the rooftop.”
He says OCR Land aims to present a “resort in the city” concept at The Pano with its different facilities, designs and landscaping features. There will also be full facilities at the multipurpose room for residents to host parties.
For the first time, the developer hired an interior designer for this development, a move Kevin believes will add value to the project.
The Pano is accessible via Lebuhraya Sultan Iskandar, Jalan Tun Razak and Jalan Kuching. It is located 300m from the Jalan Ipoh MRT station, which comes under the MRT Line 2 route.
Emily says OCR Land plans to launch two industrial projects — in Tampoi, Johor, and Selayang, Kuala Lumpur — after The Pano.
It also has projects in Bandar Sunway and Kayu Ara, both in Petaling Jaya, in the pipeline, but details have yet to be finalised.
Original article entitled "OCR Land to launch The Pano by 3Q", first appeared in City & Country, a pullout of The Edge Malaysia Weekly, on 25 July 2016.