By Joseph Wong
As urban land becomes increasingly scarce, particularly in city centres, developers are turning to redevelopment projects to maximise existing spaces. Traditionally, such projects would take on new identities, leaving behind old names to signify a fresh start. However, some developers want to retain the original names of buildings or properties, especially when those names carry significant brand recognition or historical value.
The Housing and Local Government Ministry (KPKT) has identified 534 potential areas in Peninsular Malaysia for urban redevelopment, with an estimated gross development value (GDV) of RM355.3bil. Out of all those potential redevelopments, how many will retain their original names?
Certainly, Plaza Rakyat and Bukit Bintang Plaza (BB Plaza) are slated to retain their names, albeit their redevelopment has somewhat stalled.
“There is value in retaining the old name due to goodwill and long-term branding,” ExaStrata Solutions Sdn Bhd chief executive officer and chief real estate consultant Adzman Shah Mohd Ariffin once said. While this trend is still emerging in Malaysia, it is more common in developed countries like the United States and the United Kingdom, where retaining established names in redevelopment projects is a well-established practice.
In Malaysia, this trend has gained a slow momentum, particularly as there is a growing emphasis on preserving heritage sites. Developers recognise that retaining the original names of buildings, especially those with significant cultural or historical value, can strengthen a project’s connection with the community and contribute to its long-term success.
An example is the Jaya Shopping Centre in Petaling Jaya, which retained its original name when it reopened in 2014 after extensive redevelopment. Similarly, Sunway Putra Mall in Kuala Lumpur, formerly known as The Putra Mall, and the New Roxy mixed development in Kuching, Sarawak, which was once the Roxy Cinema, have also chosen to keep elements of their original names.
Retaining original names is not just about nostalgia, it also makes sound business sense. Developers are increasingly trying to preserve aspects of the past while integrating them with current trends. This approach appeals to the second and third generations of residents who continue to live in the same areas as their parents and grandparents. By retaining original names, developers can tap into the evolving demographics and create a sense of continuity and community.
While the practice of keeping old names is not yet widespread, it is a smart move if the name evokes positive memories or signifies past glory. In such cases, retaining the name can enhance the project’s brand value and appeal. This sentiment has a unique selling point, such as sentimental value, and can provide a significant advantage over new developments. However, some caution that retaining an old name alone is not a guaranteed formula for success. The project must also meet the current expectations and lifestyles of the target market.
Despite the advantages of retaining original names, there are cases where it might be more beneficial for a redevelopment project to assume a new identity. For instance, the names of SS2 Mall in Petaling Jaya and Penang Perda City Mall, which have both closed down, might not be worth retaining.
“If the old name carries a dull, negative image or sour memories for the locals, it is better to rename the new property to reflect a new identity or concept,” said Adzman.
As buildings in Malaysia continue to age, there may be more opportunities for redevelopment in the near future. According to Kuala Lumpur City Hall (DBKL), any building that exceeds 10 years will require regular safety checks. If a building is deemed unsafe for human occupancy, it will be slated for demolition, opening up opportunities for redevelopment.
As the local authority, DBKL is responsible for ensuring that all buildings in Kuala Lumpur are safe, comfortable to use, and habitable. The design, construction, and maintenance of buildings fall under the jurisdiction of the building department’s professional staff.
The trend of retaining original names in redevelopment projects reflects a growing recognition of the value of brand heritage and cultural continuity. While this practice is still emerging in Malaysia, it has become increasingly popular as developers seek to balance modernity with nostalgia. By preserving original names, developers can tap into the emotional and historical connections that residents and consumers have with a particular place, creating a unique selling point in a competitive market.
However, the decision to retain or change a name should be carefully considered. In some cases, a fresh start with a new name may be more appropriate, especially if the original name carries negative connotations or does not align with the new vision for the project. As the trend of redevelopment continues to grow in Malaysia, it will be interesting to see how developers navigate the balance between preserving the past and embracing the future.
Source: StarProperty.my
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