MRT Circle Lines – are they all the same?

Introduction

Probably one of the most exciting news or a game changer in sluggish construction and property sector is government approval on MRT3 or better known as Circle Line last month. A quick introduction, MRT3 or better known as Circle Line is expected to have 31 stations with prominent area such as Titiwangsa, Setapak, Setiawangsa, Ampang, Cheras, Kuchai, Old Klang Road, Lembah Pantai, Universiti, Bukit Kiara, Sri Hartamas, Mont Kiara and Dutamas under coverage. There are 2 provisional stations which is Salak Jaya (S25) and Bukit Kiara (S02).

The construction cost (excluding land acquisition cost) is expected around RM31billions with tender is expected to be called in May.2022. The Circle Line will be opened in segments with full operational targeted by 2030.

The 50.8km Circle Line will have circular alignment running along perimeter of Kuala Lumpur, but
not into the city centre
. This is a key information and we shall talk a bit more of this later.

The length split between 40km of elevated tracks and 11km of underground tunnels, with those tunnels concentrated primarily between Jalan Universiti to Bukit Kiara and Hartamas to Jalan Kuching.

In total there are 10 proposed interchange stations

With exception of KTM  (Seremban – Batu Caves) and monorail KL line, All major public rail transport will have two interchange stations with Circle Line. It is important for Circle Line to have two interchange stations so it can serve as “bypass” from one line to another line at perimeter of Kuala Lumpur without going in the City Centre.

It is clear that Titiwangsa will be the next transport hub where 4 main lines are under one roof. Furthermore, there are ample of empty land readily for development to take advantage of the transport hub.

Via these 10 interchanges, Circle Line will shorten the trips from different lines. At the moment coming from Putra height (Kelana Jaya LRT Line) to Bandar Utama (MRT 1 Line) would require commuter to travel to city centre to interchange at Pasar Seni.

Post Circle Line completion, commuters can bypass the city centre and instead can interchange in University and Bukit Kiara Stations, saving the journey time.

Another example MRT 1 from Kajang would require to interchange at Pasar Seni (another alternative interchange in  MRT 1’s TRX and Kelana Jaya LRT’s Ampang Park stations) before enroute to Setiawangsa direction. Similarly post Circle Line, commuter can bypass city centre and interchange at Taman Midah before enroute to Gombak via Kelana Jaya LRT Line’s Setiawangsa Station.

In summary, Circle Line is a “short cut” to multiple destinations.

Circle Line will significantly improve the connectivity within perimeter of city center which previously not covered by any public rails. With Circle Line, highly densed area such Mont Kiara, Sri Hartamas, Dutamas, Setapak, Ampang, Lembah Pantai which previously underserved now will have stations and connectivity to parallel rail lines (MRTs, LRTs). These rail lines are the gateways to major downtown areas such as KLCC, TRX, Bukit Bintang, Pudu etc.

One of the arguments from detractors is the underutilization of MRT 1, Sungai Buloh Kajang Line  (SBK). Since the inception in 2017, the slow ridership growth has many calls it as failed project. The ridership peaking at 2019 with average ridership of 205K perday. Due to MCO in 2020, ridership has dropped significantly due to movement control of non-essential services and industries. Post recovery, the ridership has a slow recovery and is still well below the design capacity of half-a-million (500,000) passengers per day.

The second MRT line, Sungai Buloh-Putrajaya (SSP) line with design capacity of 533,000 passengers perday is expected to be fully operational by Jan 2023. Consists of 37 stations stretching from Sungai Buloh to Putrajaya, the 52.2km line is built at the cost of RM31bilions. Government plans to spend about the same money on MRT Circle Line.

It is important to remember that MRTs are designed to last for generations. It may be underutilized at early life however as population growth, the ridership will increase. To illustrate a point, completed in 1999, LRT Kelana Jaya carrying over 300k per day in 2019 and overcapacity during peak hours. Unlikely any further capacity expansion is possible due to constraint of the stations.

Given the huge bill, the functionality of Circle Line has attracted encouraging feedback as well as flaks from citizens. Some are arguing Circle Line is a waste of taxpayer money and no meaningful to increase the public transport ridership within Klang Valley. The money is better spent to build MRTs in other cities such as Johor Bahru and Penang island.

Let revisit some of MRT Circle Lines around the world.

Seoul’s Circle Line

Seoul Subway Line 2 connects many of the major downtown areas in Seoul and thus serves as an ideal mean of transportation throughout the city. Major stops along this circular line include Hongik Univ., City Hall, Euljiro1(il)-ga, and Dongdaemun History & Culture Park Stations north of Hangang River, as well as Gangnam, Jamsil, and Samseong Stations in the southern region. Starting from City Hall Station, travelers can explore popular districts such as Hongdae, Edae, Gangnam, and Jamsil or visit the numerous parks, museums and art galleries located near the subway stations.

Tokyo’s Circle Line

This is the only line that connects all of Tokyo’s most famous central stations such as Shibuya, Shinjuku, Ikebukuro, Ueno and Tokyo Station.  The line is 34,5 km.

Shinjuku Station
 is maybe the world’s busiest train hub, with over 2 million passengers going in and out on a daily basis, and connecting with the
Narita Express
 to Narita Airport, among other lines. Apart from a station, Shinjuku is also an important business and shopping center.

Shibuya Station
 is famous for the busiest intersection in the world – the
Shibuya crossing
. Apart from this, the area is one of the largest shopping centers as well as one of the most active business centers.

Tokyo Station
 (Tokyo-Eki) is the central station as well as a terminal station for all Shinkansen bullet trains. It is located in
Marunouchi
, which is one of Japan’s most prestigious business center.

Akihabara Station is one of the biggest central districts in Tokyo, famous for it numerous
electronic shops
in the famous “Electric city”.

All Shinkansen trains that go to the north of Japan stop at
Ueno Station
.

In nutshell, Yamanote line circle the government district, business, entertainment, commercial and residential areas. It is well known that properties within inner circle line is higher than out of circle line especially those within 10 minutes walking distance to stations.

Singapore’s Circle Line

The 30-station CCL is a circular rail line linking the North-South, East-West and North East Lines to the city. By intersecting existing train lines across key interchanges, and bypassing the busy City Hall and Raffles Place MRT stations, the CCL shortens trips between the north, east and west of Singapore, making travel more convenient. The line is currently 35.5 km long with 30 stations, connects major stations such as Dhoby Ghaut, Esplanade, Marina Bay, Holland Village.

London’s Circle Line

The 27km long 36 stations is a spiral-shaped
London Underground
 line, running from
Hammersmith
 in the west to
Edgware Road
 and then looping around central London back to Edgware Road. Circle Line covers many important landmarks, commercial centres and tourist attractions such as Tower Hill (Famous Tower Bridge), Embankment (London’s Eyes, Charing Cross, Trafalgar Square),  Westminster ( Big Ben and the
Houses of Parliament
), St. James’s Park (St. James’s Park and Buckingham Palace), Sloane Square (Knightsbridge, Kensington, Belgravia and Chelsea), Notting Hill Gate (ortobello Road Market), Paddington (express train to Heathrow Airport), Kings Cross (Similar to KL Sentral, regenerated 67 acres with 6 tube lines, 2 main train lines, HSR to Paris)

Comparison

The first we will notice that KL’s Circle Line is quite long, and covers 50.8km versus the Circle Line in other cities ranging 27 to 35km. This is first key because due to its length, KL Circle line the loop is larger.

In other cities due to the smaller loop, the Circle Lines cover and connect many major downtowns, tourist attractions and important landmarks.

Where else for KL’s Circle Line it seems that it is more interested to cover surburb area and highly populated area such as Setapak, Setiawangsa, Ampang, Cheras, Bandar Sri Permaisuri, Kuchai, Old Klang Road and Lembah Pantai. The notable commercial area is located in Sri Hartamas, Mont Kiara and Dutamas and future regeneration Titiwangsa (with 4 lines). As far as Propcafe is concern, KL’s Circle Line does not covers any important landmarks.

Summary

Throughout the world, Circle Lines usually are the busiest line as it covers main downtowns, tourist attractions and important landmark. However, for KL’s Circle Line it seems MRTCorp has adopted different approaches. As mentioned earlier, the Circle Line is to provide as much coverage possible and bring the passengers to major downtowns (KLCC, Bukit Bintang, Bangsar, TRX, Bandar Malaysia etc) via the parallel rail lines such as MRT 1, MRT 2 and Kelana Jaya lines.

What it means to property investors like us? For properties within the proposed areas, it is good welcome as traffic will be reduced with public rail transport as alternative travelling. However, need to bear with construction noise and inconveniences for next 8 years. Area like Mont Kiara, Dutamas and Setapak for example are most welcoming Circle Line as currently severely underserved.

For properties along MRT 1, 2 and Kelana Jaya lines, in Propcafe’s opinion these remain as prime rail lines and Circle Line seems to be more like a feeding line rather than main rail artery.

Given the current soft property market either auction, primary and secondary markets especially along operational MRT1 (SBK Line) and (SSP Line), it seems that buyers still can find bargains especially if they doing research.

Also, timing is equally important and at the moment, there is no reason for property investors to hunt Circle Line related development as Circle Line will only be fully operational in 8 years where most development will only take 4 -5 years for completion.

Obviously Circle Line is still very important as it will improve connectivity with its 10 interchanges. It is worth to note that most of the stations are located with ample of empty land for development. This will be not be possible if the Circle Line covers prime location and landmarks. The land will able to sustain the commercial and residential development for next 10-20 years. In fact some are earmarked by MRTCorp as future TODs such as Phileo Damansara (Bukit Kiara South station), Titiwangsa (Titiwangsa station) as example.

Hopefully this article will be helpful in your decision to hunt MRT related properties.

Happy buying!

Cheers

Propcafe intern

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PROPCAFE  Peek : Nova Pantai By Malton

Nova Pantai
 is Malton’s latest project, located near the popular “Bangsar South” vicinity.  It is currently opened to preview by business associates as well as internal Malton staffs – walk-ins can try their luck at the sales office near Robson Heights.

Discover the place where all of life’s essentials come together – spectacular panaromic views, adjacent to upscale retail complexes and strategically located mid-way between Petaling Jaya and Kuala Lumpur.

Nestled by the river front, Pantai Boulevard is a beautifully landscaped resident’s park overlooking the city’s River of Life.

Its proximity to the city centre and river front lifestyle, together with everything on your doorstep makes Nova Pantai vibrant and highly desirable – a home that knows no limits.

The exact location of Nova Pantai :

It is closer to the Angkasapuri side of Pantai, and it is located right next to the NPE (New Pantai Expressway).

Malton has commited to build :

dedicated ingress from NPE, which will bring traffic right to Nova’s door step

bridge across the river, linking Nova Pantai to Jalan Old Klang road – alternative entrance/exit

dedicated covered crossing from Nova Pantai to the KTM/LRT hub of EcoCity. Note that EcoCity is building a direct walking link to MidValley; hence Nova Pantai will indirectly benefit as having a covered link to MidValley

There are 3 towers for this project, tower A (48 floors), tower B (51 floors) – in the middle with most premium view, and Tower C (50 floors). Currently only Tower A and C are open for bookings. Tower B will be launched towards the final stage, albeit at a higher cost.

There are specifically 2 layouts for the units;890sf (3r/2b) and 1090 sf (4b, 3r)night time. The smaller unit comes with 1 car park, whilst the larger 1090 sf comes with 2 parkings. Maintenance inclusive of sinking fund is about RM0.38 psf, with the first year maintenance being free. Additional car park is available for purchase at RM35k per lot.

As usual, my gripe about such layouts is the lack of a wet kitchen/yard – for the tenant to do laundry or cooking.  Enclosed kitchen does not really suit Malaysians (your fried ikan kembong, telur mata kerbau, etc will stink up the whole apartment).   Malton has made a commendable effort to squeeze in 4-bedrooms into a 1097sf unit.

All the units come partially furnished with:

kitchen built ins

hob & hood

fridge

washing machine & dryer (as all the units do not have a wet kitchen)

each room will also have an air cond unit

(layouts courtesy of lowyat.net)

APDL is expected out only in April, so in the meantime it is just a series of preview launches. Booking fee is RM15,000 There is currently a 5% + 3% promotion.

Sample pricing of a low floored unit :

RM 838k for 1090sf; minus 5% discount, and additional 3% on top of it.

Works out to be 772 k and RM708 psf.

Our take

Should consider east facing units, as west facing units not only have the afternoon sun to content with, but also the mosque at the bottom of the photo.  The price should also be reflective of this.   Note the proximity of the KTM track next to the unit, although the units will literally have the Angkasapuri station at its door step.

Also take note of the high tension cable running right at the side of the site. It is actually quite glaring.

If Malton is able to complete the infrastructure promised, then access to this project is extremely convenient, direct via NPE/federal highway, or via Old Klang Road. Avoiding the hassle of the infamous Kerinchi bottle neck (at the LRT station), nor going deep into OKR.

Density seems high for a project in such a narrow plot of land, and the location is also quite isolated, with no retails and commercials within 5 minutes walking distance. Of course EVERYTHING is within 5 minutes drive (LRT, MidValley).

For investment wise, the projects in Bangsar South probably have one leg up in terms of accessibility to LRT as well as retail/office, but Nova Pantai does have the KTM as its unique selling point, as well as the ‘walking’ distance to MidValley for consideration – notice the proximity of the rail road track to the project.  Please try being within earshot of trains when it rumbles by – it can be quite deafening.  The sound can still be heard even if you are 1km away from the train tracks.  Do take note of this if you are buying for own stay.  But like everything else, you will get used to the sound after a few weeks/months.

Rental yield will be on the low side, as I do not think this part of Pantai will be able to command higher rental than those in the Pantai Hillpark/heart-of Bangsar South region.

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PROPCAFE Peek : O’Hako @ Puchong Jaya By Marimo Land

Who says there are no cheap launches anymore (definition to be discussed below)? With all launches going in the region of RM800psf to RM1000psf ++, a launch in Puchong of RM500psf seems to be unheard of. Yes in Puchong, just 2km away from the Golden Mile of Puchong (not Taman Tasik Puchong nor Bukit Puchong Netherlands).

This is the first premier launch by Marimo Land Sdn Bhd –
O’hako
  (which means Box of surprise).

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

This is the premier launch of the
Marimo
  group from Japan – …

Picture Credit to Marimo Land Sdn. Bhd.

Located in Puchong Jaya , at the end of the notorious Jalan Pipit.

Picture Credit to Marimo Land Sdn. Bhd.

This FREEHOLD project is estimated to be launched in Q1 2015, and comes in 3 sizes, 815sf, 955sf and 1002 sf. All units come with 2 car parks.

815sf comes with 2 bed room, 2 bath; 955sf comes with 3bedroon, 2 baths, and 1002sf is the exact same layout as 955sf but with additional balcony.

Ohako Type X 815sf 2 bedroom

Ohako Type Y 955sf (w/o balcony) & Type Z 1002sf (with balcony) 3 bedroom

As of this juncture, the company has not revealed any promotional details, nor package – the units are estimated to cost in the region of RM500psf – 600psf.

For rebate and package details please contact sales directly. I heard there are some very attractive packaged 🙂

Booking is RM5K in cash or credit card of cheque

So the rough price of the small unit could come up to the low RM420k’s.

Summary

Ohako Summary

*Price is indicative and subjects to change

Land size : 4.4 acres

Land title : Freehold

2 Tower 31 storeys

Total units : 718 units (12 units/floor and 4 lifts/floor)

Size:

815sf – 2 Bedroom

955sf, 1002sf (Balcony) – 3 Bedroom

Car Park : 2

Maintenance : RM0.28/sf

Booking 5K (cash, credit card, cheque)

Sales package refer to sales directly

Which is basically slightly more than what you’d get with a studio in Cyberjaya – Pangea(or as some calls, sibehfar land).

Cheap launches ? In absolute value terms one can hardy find anything south of RM500k these days, what more a livable unit with 2 bed rooms and 2 car parks (you will appreciate the 2 car parks once you have driven through Jln Pipit).  IOI’s Parc’ville next door are large sized units with selling prices above RM 600k (looking at repayment of + RM2.5k owe month if based on LTV90%)

All units will come with a short kitchen cabinet, sink, hob and hood; as well as shower glass, shower, and toilet cabinet for the master bedroom toilet.

According to the SA, the toilet in the master bedroom comes in an open concept.

i.e. no doors/wall between the toilet and the master bed … Errrrr … we don’t think this is such a good idea .. not so much for lack of privacy – but rather for the humidity and vapour generated by the hot water shower – which has no where to flow to except the room. So the room could get too heaty or humid.

Kitchen 1 Picture Credit to Marimo Land Sdn. Bhd.

Kitchen 2 Picture Credit to Marimo Land Sdn. Bhd.

Living Hall Picture Credit to Marimo Land Sdn. Bhd.

The views for the 2 blocks are :

Tower 1

forest reserve view (facing outside)

pool view (facing internal)

Tower 2

Sunway / river view (facing outside)

Pool view (facing internal)

The development comes with amenities such as :

swimming pool

-floating gym

-pavilion garden

-riverview garden

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

The location is all the way to the end of Jalan Pipit in Bandar Puchong Jaya.

By passing new developments such as Atmosfera, Zefer and Koi Kinrara – as well as existing apartment such as Villamas apartments and Sri Bayu…..

According to the developer, they are in plans to build a road linking the rear, to a bridge to be built across the Klang River, which will allow traffic to flow through to Bandar Sunway side … and at the same time punching all the way through to Kesas. It remains to be seen how realistic this project will be and the actual time line for the completion of this access.

Surroundings

Buyers/investors are strongly urged to take a drive to the locality – to have a good understanding of Jalan Pipit.

There are currently at least 6 completed/under-con projects going on in this narrow road (road size seen below – similar to the road in Palm Springs @ Kota Damansara).

A – Sri Bayu apartments

B – Parc’ville condo by IOI

C – Atmosfera condo

D – Zefer Hills

E – Villamas apartments

F – Koi Kinrara

G – expected site of O’hako

Y (in red) – open sewage

X (in green) – currently a badminton hall – potential for future development

Key for this area will be the direct connectivity of Jalan Pipit into Kesas , via the back – Taylor’s College etc. But as buyers of Atmosfera / Zefer can testify, it has been an idea being tossed by various developers for ages. If the access is completed, not only will it allow the residents direct access to Kesas, whilst clearing the pressure on Jalan Pipit, but it will also open up a new rental target market of Taylors’ students.

Besides that access, you currently will have to go through Puchong Jaya’s inner roads (which can link to both LDP or Jalan Puchong directly).

Price range for other developments around the area, are going for …. Villamas Apartments (rental RM 1,200 subsale RM 420psf) , Sri Bayu (RM 1,500) and Atmosfera (RM 1,500 to RM 2,000 RM420psf)

Interested? Can go check out the showroom on block C of IOI Boulevard – they are taking registrations already. Launching is tentatively for Q1 2015. Final packages/discounts/rebates/layout only to be made known officially on this Friday 23rd Jan. So stay tuned.

For those who are interested, can start to register for their exclusive preview :

Date : 23rd Jan 2015

Venue : O’Hako Sales Gallery @ IOI Boulevard, Puchong

Time : 10am

Please contact :

Land Sdn Bhd

(1002481－V)

C-G-49 & C-G-50, Ground Floor, IOI Boulevard, Jalan Kenari 5, 47170 Puchong, Selangor.

T.
 03-8070 3800
F.
03-8074 9795

For those who successfully registered will received a registration card with indicating your “lucky” registration no.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Picture Credit to Marimo Land Sdn. Bhd.

Update :

23rd Jan 2015 Opening Ceremony With Lion Dance

Ohako Opening Ceremony 23 Jan 2015 Propcafe

23rd Jan 2015 Sales Chart :

Ohako Sales Chart PropCafe 23 Jan 2015

25th Jan 2015 :

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PROPCAFE Peek : One Central Park @ Desa ParkCity By Perdana ParkCity

One Central Park – “ An invitation to live in a park within a park.” 45 storeys condominium within 1.8 acres land.

Due to time constraint, PropCafe only did a quick update rather than detail review. Many of the information will be self explained by the attached pictures here.

Clearly, the developer put a lot of emphasis on the park within the park as one can see quite a lot of green allocated surrounding the building.

It is not difficult to sell DPC address at all, so no point to discuss its location of DPC here. If you still do not know the place then please visit it.  While visiting it for property hunting purpose, you can also see the lifestyle that you can get in this part of Kuala Lumpur West.

The site of One Central Park is one of the best location within Desa Parkcity. It is located besides Northshore and opposite Adora/ West Park (the latest park in Desa ParkCity). It is still not the best for me as there is another better plot of land (also within the central park) which is opposite Southlake.

Last Saturday was the priority sales but there were no long queue, anxious buyers, furious buyer because of no units to choose, pasar malam BBB environment at sales gallery. It is pretty calm and relax because the backdoor sales already started 3 weeks ago. Those facing west i.e. west park already open for booking few weeks back. So those really interested could have bought it and some even signed SPA by now. VVIP also booked the best facing units. But there were still many good units were available during the priority sales.

Before noon, those facing central parks were almost taken up. Those lower and higher floors that facing west park are still available at 900k up.

Sales chart as at Saturdat (19/10) 2pm

Although there are only Type A, B, C, LBD (Duplex), one can see so many various layout within each type. You may refer its website to get all information on its layout. In general, type A is 1,100sf to 1,412sf. Why the size so much different when all are 2 bedrooms unit? Well, smallest unit only comes with one bathroom and also some are attached with balcony. However, for investor, it seems like no brainer to pick the smaller type A unit with smallest built-up to optimize the rental yield. As for ownstayer, then all sort of questions come into picture – preference of orientation, bathroom, balcony, spaciousness etc. So, the choice is yours.

Type B which is the most confusing one as it has 1,2, and 3 bedrooms types which ranges from 1,044sf to 1,518sf.The best affordable layout will be B2b which is the best among among 1.3ksf types. It comes with 3 bedrooms and most importantly, unlike many kitchen layout other types, this layout comes with wet kitchen and open dry kitchen. The other types (1.3+sf) are either 2 bedrooms or the kitchen is narrowly stucked at the side (see layout below. Also, this B2b either facing the west park or central park. I would personally pick the west facing as it is priced only around RM7XX+psf after discount compare to much higher premium that facing central park. Of course, this is solely from investor’s perspective. Type C is 3 bedroom units and Type LBD is Duplex unit which only available at level 43 and 43a.

Freebies and Incentive Program?

Pricing

Overall, the pricing starts from around RM7XXpsf to RM8XXpsf (see below the snapshot of pricing) before discount. How the discount works? See the photo below.  Type A and B only eligible for 3% early bird discount but not DIBS. Other types i.e. bigger units can opt for additional 6% discount if one feel that DIBS is not required. Based on the DIBS discount percent, one can easily know that this development will take 4 years to development.

Full listing of units and size can be seen in the photo below.

Here are all the snapshot for the available units’ price.

Low Floor

Mid Floor

High Floor

New Duke Expressway?

The proposed 3.8km elevated DUKE highway extension will be completed in 2016 which will make DPC to KL City Central even shorter. The interchange is 1.2km away from DPC. What’s in PropCafe’s mind is not about how much leverage DPC has on this news but rather any other developments outside DPC will be benefiting this! See photo below

How about the potential problem for this development? Again, the surau in the masterplan is opposite the entrance of this development. This reserve land besides Zenia has been vacant there and no one know when the developer will build it. Without doubt, it is likely to be the last development in the entire Desa Parkcity.

Scaled Model

So Buy or No Buy?

Tough call! If one based on recent launches in the market, this OCP (psf term) seems reasonable! Given Desa Parkcity address, if one really look for an ownstay place and really like DPC’s environment and want to start a family at DPC, the 2 bedders below RM900k and 3 bedders around 950k seems like not a bad buy at all. From investor perspective, highrises will be very competitive in near future with West II, Breezeway, Arcadia SOHO are coming into market  in next two to three years. Not to say existing supplies from Northshore and Westside I which are still no way fully occupied. Nadia condo could be too old to compete but it will be a bargain buy if its price doesn’t catch up the rest in next two years. With all million ringgit condo now in DPC market, it will not be easy to flip. Mont Kiara is the best example to see the saturation of pricing for million ringgit condominium. Buy with cautious and pick the most competitive unit.

Congratulations to all buyers. But don’t forget to tune in to listen the 2014 budget on 26th Oct…… haaaaa!

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PROPCAFE Peek : One Residence @ Cyberjaya By MCT

Fancy a about  indicative RM400psf unit or below 450k, of 3 bedroom/2 bathroom, with 2 car parks ?

Located next to a lake, as well as a primary Chinese school and commercial retails in the vicinity?

What about 30 mins drive to KL (and I mean 30 mins to the heart of KL, i.e. KLCC) ?

MCT is launching its latest phase of One Residence. The soon to be launched
1st block
 One Residence @ Cyberjaya consisting of
431 units
 here are considered as one of the “affordable housing” price, but they are NOT PR1MA housing.

The first block of One Residence will be priced from not more than RM450k, and deposit is only RM 3,000. Do take note that purchase via balloting is still
NOT
 confirmed. So it might need NOT to ballot for this 1st block of One Residence @ Cyberjaya.
 (*Balloting is not confirmed until further notice)

There are only 3 price tags are available for this
1st block of affordable One Residence
 @ Cyberjaya.

The gross price :

$443,500 they called as premium ( Facing lake)

$438,500 (Facing pool and facilities)

$433,500 (Facing future phase)

We would suggest you to call them for details if you want to know more for the “special” price package.

MCT target to officially launch the affordable condo of One residence comprises of total 431 units (1st Block) around early
March 2015
.

For those who are keen, can start to drop them a cheque 🙂 now!

The One Residence project comes in 3 blocks affordable price housing plus additional 4 blocks under Rumah Selangorku Scheme, sitting on total land size of 19.7acre, but take note,that Lakefront Residence – on the opposite side of the lake, has 8 blocks of apartments (first 2 blocks just launched in 2014) , as covered by Propcafe 1 ½ years ago – Lakefront Residence (
https://propcafe.net/lakefront-residence-cyberjaya-mct/
).  These Lakefront Residences are marketed as higher end units, although starting from around RM400psf , the sizes are mainly from 1,400sf upwards.

The initial phase of affordable price housing One Residence @ Cyberjaya will be comprised of 3 blocks with
roof top garden!
, right next to the lake; and next to it will be 4 blocks (under Rumah Selangorku scheme) which will be launched in the next subsequent phases. The 3 blocks of affordable condo will have different facade from the remaining 4 blocks. All these developments are by MCT, and they will share the common lake – which will be maintained by the Majlis – town council.

There is a nearby Chinese school, SRJK Union, which is within walking distance.  This project will be surrounded by lower dense projects such as SP Setia’s Setia Ecoglades, as well as
Lakepoint Residence
 by Yan Jian Group

credit to Damienster

Proposed One Residence Unit Layout

The units are all very livable sizes and start from 1,010sf – 3 rooms, 2 baths ; with 2 car parks.

For the car park, it is still yet to be confirmed whether it will be in tandem or side by side but we are hoping for a surprise from MCT.

There is a possibility that the first phase of One Residence @ Cyberjaya comes with indicative semi furnished package.

For those who are familiar with MCT package, indicative semi furnished is sort of more or less the same as their previous project 😉

This type of development is rare in Cyberjaya as majority of the units are small sized studios – catering to the student market mainly; or high end units, but pricing from RM600-800psf upwards (eg. Cristal, Mirage)

What Cyberjaya needs is projects of this type, catering to the mass market with affordable housing. It can benefit local upgraders from surrounding areas, middle class Cyberjaya tech workers, or even as student housing.  Not everyone can afford those super high end condos like OSK’s Mirage by the Lake.

Regarding connectivity, if you see the picture below, the Setia Ecoglades interchange is currently being built connecting directly to Lingkaran Putrajaya – which will cut down tremendously the travel time to MEX highway.

The negative points ?

Just like other affordable property projects, this whole MCT – One Residence will be high densed.

Not everyone likes living at or next to affordable housing.

It is Cyberjaya after all (love it or hate it) … …

If interested, do note MCT is now taking deposit – and lauching will be pretty soon. Currently the take up rate is pretty good according to the SA.

This is what the location looks like currently.  Completion should be around the same time as Lakefront Residences (SPA was 54-months to completion).

PropCafe had been shown the One Residence @ Cyberjaya facade and some CG illustration and it is quite enticing. We will update more pictures and CG illlustraion of One Residence @ Cyberjaya soon. So please stay tuned on this post!

If you want to follow us and stay tuned for more about this project, please subscribe to us via this website
propcafe.net
 (the subscription/registration only can be seen via desktop mode, if you are viewing in mobile theme please change it desktop so that you able to register with us for free) Or follow us via our facebook page at
https://www.facebook.com/propcafe.net

For those who are keen on One Residence @ Cyberjaya, please contact MCT sales office. PropCafe is not agent. Lol.

If you are propcafe’s readers or followers, quote
“PropCafe.Net”
 when contacting MCT for surprised mystery gift* 🙂

*while stock last

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PROPCAFE Review : Utropolis @ Glenmarie By Paramount

Live-and-learn. Work-and-play. At Glenmarie’s only university metropolis
TM

Befitting the tagging, Paramount Utropolis @ Glenmarie is an integrated development with KDU University College (KDU University College), 1035 units residential, Utropolis Marketplace with 120,000sqft NLA are within the development itself to meet the daily needs of the residents. This is
PARAMOUNT UTROPOLIS @ GLENMARIE
.

Location of the property

A show of hand please, anyone here NOT using waze in KL? Ok I see none. Key in Paramount Utropolis @ Glenmarie in WAZE app, walla, you will be guided there in no time,’wink’.

Then let’s move on to accessibility, infrastructure and amenities of the Paramount Utropolis @ Glenmarie.

NO no no, well, this is not PROPCAFE style, we can do much better!

Let’s us walk you through the location of the Paramount Utropolis @ Glenmarie.

Paramount Utropolis @ Glenmarie is located at the border of Subang Jaya, bearing Glenmarie, Shah Alam address. Glenmarie is a widely known to most car enthusiasts; we call this is place with houses of cars, need not to elaborate more!

Picture this, Federal Highway is a river; Subang Jaya direct opposite side of the river.

Glenmarie is the twin brother of Subang Jaya separated by the river, often gets neglected; get the drift? Or at least the main plot of the story, ‘Twins of Subang Jaya’ anyway twins or not!

This is prime real estate and read on to and we will tell you why so.

Current Accessibility, Infrastructure and Amenities

Paramount Utropolis @ Glenmarie has is accessible to 6 major highways in Klang Valley, starts with Federal Highway, NKVE, Guthrie Corridor Expressway, Elite Highway, NPE, LDP. Yes, you can brag a little when you have few couple of options!

In short, the accessibility is great when you have plenty of highway infrastructures at your disposal.

After studying the accessibility of Paramount Utropolis @ Glenmarie, we sum up that the main access would be to and from Federal Highway (FH) to Glenmarie.

One fit fall of using Federal Highway as main access, is the daily high traffic condition along FH. However this can be overcome, as the project is surrounded by various major highways such as NPE, NKVE, LDP etc. Therefore getting in and out of town shouldn’t be an issue.

Paramount Utropolis @ Glenmarie, being situated in the prime area would mean there will no short of amenities.

School:

Paramount Utropolis @ Glenmarie itself is walking distance to KDU University College and Politeknik Sultan Salahuddin Abdul Aziz Shah and short driving distance to Japanese International School, SMK TTDI Jaya, SM Teknik Shah Alam, Batu Tiga, SK TTDI Jaya

Groceries shopping:

Giant Shah Alam, Tesco Shah Alam and Paramount Utropolis @ Glenmarie Marketplace in future (upon its completion) for daily groceries needs.

Malls & Banking needs:

Empire Subang, Subang Parade, Citta Mall Ara Damansara, SS15 commercial centre area

Hospitals:

Ramsay Sime Darby Medical Centre Ara Damansara, Ramsay Sime Darby Medical Centre Subang Jaya

Sports & recreational:

Stadium Shah Alam, Stadium MBPJ, Saujana Golf & Country Club, Subang National Golf Club

Transportation:

Subang Airport, KTM Batu Tiga

Civil service:

Police station Bukit Jelutong, Fire & Rescue Department Bukit Jelutong

All these amenities are within reach within short driving distance.

Developer Profile

Developer risk is always one of the key components of PROPCAFE property assessment and it cannot be more important especially in current state of property cycle.

Property buyers may not care about developer’s reputable, quality of delivery or financial capability during the boom period (e.g. 5 years ago) as everything seems so effortless to generate handsome profit with low completion risk.

It may change in coming years when developers are under a very cost sensitive and challenging economy environment. No one should be surprise to see bad finishing, late delivery, or even abandon projects.

So, who is Paramount Property?

Paramount has more than 37 years in property business. Paramount Property is 100% owned by Paramount Corporation Berhad which is listed in main market of Bursa. The key businesses are mainly on property and education.

Who does not know KDU University College, KDU College, and Sri KDU School? If you are Kemuning Utama buyers 10 years ago, surely you will love Paramount. The price of the guarded and gated development is now triple the original purchase price.

Similar success also applies to Bandar Laguna Merbok at Sungai Petani which awarded 12
th
 FIABCI-Property Award Distinction in 2004. Recently, several awards also given to Paramount including BCI Asia Top Ten Developers 2011 in Malaysia, Property Insight 2015 Best Boutique Development (Sejati Residences), and Best Self-Sustained Development (Paramount Utropolis @ Glenmarie).

Financially, Paramount Corporation is always profitable and property business always contributes more than 70% of its revenue. The group has a gearing ratio of 0.40 (net gearing at 0.26 as of 1Q 2015) that classified as low gearing under PROPCAFE’s rating criteria.

Currently, the developer is holding 863 acres of land bank and having five on-going developments worth GDV RM2.5bil. The on-going projects include Sejati Residences (Cyberjaya), Sekitar 26 (Shah Alam), Bukit Banyan (Sungai Petani), Bandar Laguna Merbok (Sungai Petani) and of course our feature project here Paramount Utropolis @ Glenmarie.

In addition, the developer has other future pipelines in Petaling Jaya, Klang, Penang, Kota Damansara and Shah Alam. Recently, Paramount also acquired 237 acres of land in Sepang.

In short, the good track record of Paramount’s property business experience, reputation, financials, past delivery and its organic growth make the developer and completion risk redundant.

Masterplan

Paramount Utropolis @ Glenmarie sits at 21.7 acres land which comes with integrated lifestyle concept of “Live-and-learn. Work-and-play”.

The 10 acres size of KDU University College is currently hosting more than 3,000 students and the completion of Paramount Utropolis Marketplace (commercial retails), which will be located underneath the Phase 2 (2 Towers of Lifestyle Suites & 2 Towers of Serviced Apartments), will add more lifestyle to the students, staffs and its nearby communities in Glenmarie.

Some artist impression of the overall development can be seen from the youtube link below

Paramount Utropolis Marketplace

The two levels of retail lots with the net let-able space of 120,000sf, managed by the leasing team from Paramount property, will spice up the vibrancy of Paramount Utropolis @ Glenmarie and meet residents’ everyday needs.

The up-market grocery like SAM’s Groceria (
http://www.samsgroceria.com
), bank, clinic, dental, cafes, eateries etc already in the confirmed tenant list below (as at Aug 15). If one wants to know more information, you may refer to the Sales Gallery at the KDU University College.

Serviced Apartments & Lifestyle Suites

Paramount Utropolis @ Glenmarie development comes with 3 Phases. This 11.7 acres land will be built with a total of eight Towers of serviced apartments and lifestyle suites.

Don’t expect high and tall building as there is height restriction in this part of Selangor to ensure the density issue is taken care of. Phase 1 consists of Tower A & B which seen a total of 414 units was fully sold and it is scheduled to complete in the end of 2015 or early 2016.

Phase 2A – two tower of Lifestyle Suites (428 units) was launched in 2014 to cater for the potential commercial needs in Paramount Utropolis @ Glenmarie.

The current 2B phase – serviced apartment Tower C and D is opening for sale. The units under Tower C (136 units) will be partly furnished whilst units at the Tower D will be fully furnished.

The interest fully furnished concept adopted by Paramount Property will be covered in later part of this review. How about the third phase? The final two towers? Well, if you are interested on Paramount Utropolis @ Glenmarie, PROPCAFE will recommend you not wait the third phase as the plan “may” change.

Surely, even it changes, it will only add more values to the existing owners. Stay tuned to wait for Paramount Property’s announcement in later stage.

What else in the KDU University College?

The campus has been aggressively increase their students intake for this newly built KDU University College since Jan 2015 and expected to expand its intake to 7000 students in next few years.

There is on campus hostel which currently catering 800 beds from its single and twin shared rooms.

This modern campus is also come with a coffee laboratory and famous fine dining restaurant – Dewakan (
http://dewakan.my
). You need to book and reserve your table in advance. No chance for walk-in customers!

Updated  29th Nov02015
 :  For our dining  review on
Dewakan Utropolis Glenmarie
  .

Such an appetizing meals in Dewakan!

The current launch of Paramount Utropolis @ Glenmarie is phase 2B that consist of Tower C (136units) and D (117units). While units in Tower C are almost fully taken up, Paramount has launched Tower D with following composition that spread over 9 floors (From level 4-12).
Phase 2B (Tower C & D)

Type of Units

Dual Key (Yes/No)

Configuration

Built Up

(sqft)

Unit in Tower D

Indicative Selling Price (RM)

Type D

Yes

3 bedrooms &

3 bathrooms

1,202

27

From RM1,029,700 (From RM856psf)

Type E

Yes

2 bedrooms, 1 study room & 2 bathrooms

1,030

45

From RM874,300 (From RM848 psf)

Type F

No

3 bedrooms &

2 bathrooms

1,162

36

From RM990,000 (From RM852 psf)

Type G

No

2 bedrooms &

2 bathrooms

797

9

From RM672,300 (From RM843 psf)

The size and configuration of units in Tower C is similar however Tower D comes with extra feature which PROPCAFE will come to it later.

What PROPCAFE noticed the main differentiation factor this phase from previous phase is for certain types (type D & E) there are dual keys feature where a separate studio suite with its own entrance (and with dedicated kitchen area mind you) if you would like buy for own use and would like to rent out the studio for extra income.

Otherwise if you buy for investment, the studio unit can be rented to tenant who do not mind to pay premium rental for additional privacy.

Following are the layouts

Gone are the time where students are cramped in small and windowless bedroom. The apartments are well spaced with most of the rooms have adequate space to fit either queen or two single beds, wardrobe, study table etc. the open concept allow the integration of living, dining and kitchen and the students can mingle with each other comfortably in the space.

With exception of smallest type G, the rest of the units can fit in 3 bedrooms comfortably. Being the most affordable due to the size, type G is by far the most popular type among all.

However PROPCAFE being PROPCAFE, we always find the way to sweat the asset further in order to maximize the return of investment. What caught the eyes of the author is type F.

The width allow more natural sunlight in the unit and more important, the space allow the owners to do some creative arrangement.

Not only this, type F is having advantage of being the corner units that afford more privacy and without sharing wall with another neighbors.

From the modified layout above, bedroom 4 can be easily added and based on current rental for twin accommodation in KDU hostel, the extra bedroom can easily bring 2xRM650 extra rental per month for the owner.

Views & Orientation, Features and Finishing

With the exception of type F the corner units, all the intermediate units in Tower D are either facing the Level 4 (facilities deck) on North side and Politeknik Shah Alam football field on south side.

At the time of writing, no plan yet for the football field and it should be remain as open space for the foreseeable term.

On the east side the corner units are facing the Jalan Kontractor U1/14 and despite the concern of west sun, afraid not as the most of the lower floors will be blocked from the west sun by the future phase.

Porcelain tiles are given for flooring however strangely vinyl flooring is chosen for bedrooms flooring which is uncommon among developers in Malaysia.

Each phase has their own usual facilities such as swimming pool, gym, multipurpose hall, laundry etc. Despite the towers are sitting on the common podium level, the resident security and exclusivity of facilities usage are assured with physical barrier is built on the podium level to stop the residents from other phase crossing over to use the facilities.

The physical barrier between phase 2A and 2B

4 lifts (inclusive bomba lift) are serving each Tower with 3 tiers security to ensure peace of mind of all residents.

Space Saving Furniture Feature

As mentioned earlier what differentiate Tower D versus the rest launched are each unit comes in fully furnished with exception of loose items and selected electrical appliances (TV, toaster etc).

What make the additional fittings unique is Paramount Property has work together with MOCOF to furnish the unit with innovative space saving furniture. These additional fittings is only available for type D,E & F. MOCOF is Italian Brand Furniture emphasizing on space saving and yet functional, innovative and aesthetical looking furniture.

All the main components came from Italy and assembled locally in order to save some cost.

Given the active lifestyle of the students and limitation for the space in bedroom as common space, essentially the furniture has multi functionalities that can be “transformed” when you have the needs.

The ensuite studio in type D & E for example upon the fit up with the MOCOF, the space can comfortably accommodate two to three students. You can set the bed with simple few steps by tucking away the sofa.

For owners who want to maximize the rental, the living area can be converted for another 2 students. The retail price for each of this single sofa bed is RM8000

For more comprehensive review of the MOCOF furniture, readers can links below

There are other interesting non-MOCOF space saving furniture provided by developer such as TV Cabinet, Writing Desk, Wardrobe etc. For more details of the furniture, please consult the Sales Representative.

For more information about MOCOF, readers can go their website
http://www.mocof.com.my/
 for more information on their products.

Financing scheme, pricing & comparison etc

Due to space saving feature furnishing, the price (psf) for Tower C is approximately RM100psf cheaper compared with similar type and size in Tower D. For example, type F the price starts from RM990K (RM852psf) however in Tower C it starts from RM874K (RM752psf).

There are always debate whether purchasers are paying over the odd for the additional fittings. For those who have done renovation would understand it is getting more and more expensive even for a simple renovation job.

Furthermore, Ringgit Malaysia has depreciated significantly compared a year ago causing any imported good pricier. If purchasers have intention to fully furnish the unit to the similar furnishing level given by developer such as the MOCOF space saving furniture where the components are imported from Italy, most probably the purchasers will not able to furnish it RM100psf.

Paramount Property sourced the furniture in bulk and therefore having advantage of enjoy further discount from the supplier.

Based on the psf basis, not much of premium differentiate between the dual keys (type D & E), type F and G. Therefore type G understandable are fully taken due to the low entry and more affordable compared to other type.

It is limited and only 1 unit is available for each floor. Each level the price is increased by RM1K.

Compared to recent launches of condominium within the area as per table below.

Developer

Development

Built Up (sqft)

Appr PSF

Tropicana

Tropicana MetroPark – Pandora

600-1300

800

Tropicana MetroPark – Paloma

600-1300

800-950

Sunsuria

Suria Residence

600-1200

680-800

Sime Darby

Radia

700-1500

650-800

WCT

Skyz Jelutong

800-1300

650-720

The selling price of the Paramount Ultropolis’s Tower D with MOCOF’s space saving furniture are on the upper range compared with these new launches.

Investment and Rental Analysis

At the moment, the KDU University College students have a choice to stay in the hostel that located just within KDU University College itself.

The students are paying from RM650 for twin sharing room and RM900 for single room (inclusive of utilities with exception of aircon based on usage) per month.

Paramount Utropolis Glenmarie Student Accomodation Rate as of 15th Oct 2015. Source from : http://www.kdu.edu.my/admission/accommodation/521-kdu-student-accommodation-utropolis-glenmarie

Based on the rental at the hostel, the following rental can be expected by renting the Serviced Apartments to the students assuming each room can accommodate two students.

Type of Units

Configuration

Students

Expected Rental (RM)

With MOCOF  (RM)

Type D

3 bedrooms

6

3,900 (5%)

5,200 (6.8%)

Type E

2 bedrooms

4

2,600 (4%)

3,900 (6%)

Type F

3 bedrooms

6

3,900 (5.3%)

5,200 (7.1%)

Type G

2 bedrooms

4

2,600 (5.2%)

N/A

*Additional 2 students can be accommodate from using MOCOF.

By using the MOCOF or add another bedroom in type F, the expected rental yield can be boosted with the extra headcounts.

The hostel only has capacity of 800 beds and currently KDU UC has 3000 students. KDU University College targets to increase the student intake to 7000 population.

If it is materialised, there will be shortage of student accommodation where the launched 1,035 units of Lifestyle Suites and Serviced Apartments (for all 3 phases) are expected to absorb the demands.

A quick check with developer of the rental in surrounding area can be summarised in snapshot below.

Development

Built Up (sqft)

Rental (Per month)

Serviced Apartment

Prima U1 (Seksyen 13, Shah Alam)

1100 (3 BR)

1,500-2,000

Brunsfield Riverview (Seksyen 13, Shah Alam)

900 (3 BR)

1,500-1,700

Sri Acapella Residences (Seksyen 13, Shah Alam)

730 (1 BR)

1,800-2.000

E-Tiara (SS16, Subang Jaya)*

700 (2 BR)

2,000-2.600

Subang Avenue (SS16, Subang Jaya)*

1300 (3 BR)

2,900-4,300

Olives Residences (SS16, Subang Jaya)*

1500 (3 BR)

2,700-3,200

Amaya Saujana (Saujana Subang)*

1808 (3 BR)

3,800-4,800

Saujana Residency (Saujana Subang)*

994 (2 BR)

3,500-4,200

SOHO/ SOVO/ SOLO/ SOFO

Casa Tiara (SS 16, Subang Jaya)*

880 (3 BR)

2,300-2,700

Subang SOHO (SS 19, Subang Jaya)*

685 (1 BR)

1,700-2,000

First Subang (SS 15, Subang Jaya)*

458 (Studio)

1,600-1,900

SOHO@Empire Subang (SS 16, Subang Jaya)*

797 (1 BR)

2,500-3,000

Source: From Iproperty, Property Guru

*Fully Furnished units

The nearest development to the KDU University College are those condos in Seksyen 12, Shah Alam such as Sri Acapella and Riverview. However the students require own transport as these are not within walking distance to campus.

Trivial

The expected maintenance and sinking fund is RM0.35psf and phase 2B is target to be completed by end of 2017. KDU University College already in operation and earlier phases is expected to be gradually handover to owners from end of 2015 or early 2016.

Therefore when the purchasers for phase 2B get their keys, most of the constructions activities and dust already settle down.

1 car park is allocated for the smallest type G and the rest are allocated 2 car parks.

Future Infrastructure and Amenities

LRT3 Bandar Utama Klang Line

What’s next in Glenmarie after the new “component” like Paramount Utropolis @ Glenmarie and KDU University College?

Glenmarie, already a perceived premium address, will elevate to a new level with the future transportation of LRT3. The additional of LRT will complete the necessity of being a township, to connect other townships and city centres.

Again, it accelerate the pace to bring more “residents” into this township and higher demand of residential properties is expected. This “Macro Play” should work well in investor’s medium to long term portfolio.

One major catalyst for Paramount Utropolis @ Glenmarie is that there will be an upcoming new infrastructure to land on Glenmarie town centre, the LRT3 Bandar Utama Klang Line.

LRT3 Line will connect Bandar Utama to Klang through a 36KM rail line. A total 25 stations planned, with proposed sub-two kilometre distances between them.

There will be one underground station in the line, with the other 24 being elevated stations, and of the total, 10 stations are expected to have park-and-ride facilities.

The LRT3 line will connect to several integrated stations; planned interchanges are the Bandar Utama MRT station, Station 3 of the LRT Kelana Jaya Line, the Pelabuhan Klang KTM station, and two stations (SIRIM and Stadium in Shah Alam) on the KL-Klang BRT line.

Constructions to commence in 2016 and the LRT3 line is expected to serve around two million people in the Klang Valley, transporting around 70,000 passengers daily with an end-to-end journey time of 51 minutes.

The first running trials will begin after the project is completed sometime in the first quarter of 2020.

Glenmarie Station

Paramount Utropolis @ Glenmarie is located within walking distance of Glenmarie Station and the LRT3 Bandar Utama Klang line will serve as a huge catalyst for future value enhancement, this is something Paramount Utropolis @ Glenmarie owner can really look forward to.

Station Location

External Prospect and Catalyst of the Property

We would say the main catalyst for Paramount Utropolis @ Glenmarie would be future commission of LRT3 Line as Paramount Utropolis @ Glenmarie is strategically located within walking distance to Glenmarie LRT station.

Apart from that, the upcoming mega scale commercial development of Subang Jaya City Centre with integration of Kelana Jaya LRT Line extension and UOA Kencana Square will definitely complement well with Paramount Utropolis @ Glenmarie as added convenience for future commercial needs.

PROPCAFE verdict

The completion of Paramount Utropolis @ Glenmarie will certainly add in more “young energy” into Glenmarie and trigger the transformation of Glenmarie from a sleepy industrial area into a new vibrant township.

If you looks at those townships come with university/college campuses, the now-student and then-new workforce (many of them will continue to stay there) will help to generate the momentum of economy activities in its surrounding areas.

Of course, property demand and value will rise in tandem with this growth.

The uncertainty of current economy is “cooling” the property prices and transactions. But, those “student play” investors always know that their portfolio have very low correlation with the economy as education industry always deemed as an in-elastic industry in economy activities.

In any relationship especially in love, you need two to tango. When PROPCAFE saw the quote below, it simply struck through the mind that in any investment it will depends on the appetite and risk profile of the buyers and what is their needs.

Something are meant for somebody and if it not meant for you, then move on to find the one that fulfill each other needs.

Similarly to the investment game here. Student rental accommodation is always recession-proof investment given how much the parents place the importance of quality education for their children.

KDU University College is a trusted brand among the discerning parents and this itself is an opportunity for property investors.

Pricing in psf is on top range of newly launched properties within the proximity and nevertheless with integrated development and KDU brand, the fully sold for earlier phases without much publicity speak for itself the popularity of the brand.

If you have more information and enquiries, you can browse the development website at
http://www.utropolis.my/
 and are welcome to contact developer at 603-5565 0760 or visit their sales gallery at address below

Level 6, KDU University College,

Paramount Utropolis, Glenmarie,

Jalan Kontractor U1/14, Seksyen U1,

40150 Shah Alam

Operating Hours

Mon – Fri: 9am – 6pm

Sat & Sun: 10am – 6pm

Paramount sales office

We end the blog with big smile from PROPCAFE
 ! We shall keep you posted with more blogs – From Love Hate Passion to Buy Sell Rent

Click below for a 360 Degree View of the actual Utropolis Glenmarie :

PROPCAFE 360 Degree View : Utropolis Glenmarie by Paramount Property – A Walk Through of Utropolis Marketplace and Utropolis Suites

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PROPCAFE Review : Park Manor vs. Garden Manor @ Sierramas By Tan & Tan 中英评论

说到大马首个围篱式有地房产，大家都会联想到双溪毛濡的 SIERRAMAS 或 VALENCIA.

TAN & TAN 与 GAMUDA 是 这个高尚住宅区的两大发展商，不同的是前者的发展地都是永久地契，而后者的发展地九成是99年地契。单是SIERRAMAS 的面积，就有175 亩， 而 GAMUDA则有225亩地，两者合共400亩地。

Above : The green view roads which leading towards Sierramas West/ Garden Manor

Sierramas is the 1
st
 guarded and gated landed property community in the country. The developer Tan & Tan has very tight control on its security, to the extent that he Malaysian chapter of the International Federation nominated Sierramas as the best residential project of year 2002. This is the area that is inviting for the urbanites of today with their concerns about not just where to live, but how to live. The 2 new additions to Sierramas are Garden Manor (which was launched in end of 2009, and VPed now) and Park Manor, just launched.

Top: Garden Manor is sharing the same access road to valencia

Location map of Garden Manor and Park Manor

Above: Entrance of Garden manor

Above: Club House and Swimming pool (only shared by 41 units owners)

Let’s start with Garden Manor. It was launched in one of the sunny Friday of Dec 2009. It is a small and low density development with only 41 units available for sales. All non bumi units (70%) were finished sold out within the first 45 minutes of the sales. The 30% of bumi quota were also sold out on the following day. Most of the purchasers were Tan & Tan’s internal stakeholders and supporters from Sierramas West and Sierramas East.

Above: Fenceless Concept

GM销售价从1.48mil起跳，领导层本想每卖十间就起价10万，即1.58Mil，1,68mil. 其实发展商的领导层万万没想到GM的销售额会如此惊人,  销售活动从早上九点开始售卖，怎知在短短的45分钟售完， 当领导层在十点钟从总公司致电询问销售情况的当儿，
才知道所有非土族单位已经被一扫而空
，而且只按1.48mil 价格售卖，发展商领导层只好饮恨兴叹。

There are 3 types of units namely Type A, B, C. The Type A are corner units, where Type B is the intermediate unit (BU 3500 Sqft). Type C is the biggest unit, 4 storey and comes with lift. It is a stratafied development with security (parameter fencing with CCTV, 24 hours security patrol), club house and swimming pool.  All units are fenceless.

Above: Interior Pics of Garden Manor

From the above Gaden Manor Siteplan, Row Unit No. 33-41, and Row Unit No. 32-27, are backing each others, thus less privacy, Row 14-21 are backing the NKVE, thus can get some noice and dust from the street. Thus the best row would be Row 22-25, and Row 1-13, with the unlock view from the living room.

Park Manor on the other hand is a replicate of Garden Manor, both are 41 units in total. The only different is Park Manor are zero lot with bigger BU of around 5500 sqft to 6500 sqft, the price is from RM4.2mil and above. This is perhaps the most expensive launch of Sierramas thus far.

The following are the major comparison of Park Manor and Garden Manor

Garden Manor

Park Manor

Launch date

Dec 2009

Dec 2012

Land Size (Intermediate)

32 x 48”

45 x 85”

BU (intermediate)

3500 sqft

From 5400 sqft

No. of storey

3 storey

3 storey + Mezzanine floor

House Type

Link Villa

Zero Lot Bungalow

Price

From RM1.48mil (launching price)From RM2.2mil (current asking price)

RM4.2mil (launching price)

VP/Sales status

VPed in Feb 2013

Sold 16 units,  25 units availableAs at 28 Feb 2013

DIBS

nil

nil

Land Tenure

Freehold

Freehold

Location

Next to Sierramas West, and at the entrance   of Valencia

Next to Sierramas East entrance, facing the KTM   rail road

Above: Artist Impression of Park Manor

Conclusion: There is no good or bad of both developments, it is depends on one‘s budget.

But with the price tag of RM4.2mil, Garden Manor which is half the price of Park Manor, seems a good bargain. If u want to have Sierramas in your mailing address, garden manor seems a good buy and it is the brand new addition to this highend enclave.

Sierramas is going to have another International School, currently in the making and commercial will be up soon. It is also closed to the MRT Sungai Buluh Station, a stone throw distance from the Sungai Buluh toll, linked by NKVE to others part of KLV, and also closed to the RRIM Redevelopment land, Kwasa Damansara.

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PROPCAFE Review : Pavilion @ Bandar Puteri Puchong By IOI Properties

Pavilion Bandar Puteri Puchong

Of names, brands or whatever you call it

What strikes you when you hear Pavilion from our Klang Valley folks. Most will return with ahhh, that’s the downtown city centre Bukit Bintang upmarket jam packed mall, ‘there got’ Prada, Gucci, Hermes, Panerai…..

In Wiki: “In architecture a pavilion (from French pavillon, from Latin papilio) primary has two meanings.

Pavilion can refer to a free-standing structure sited a short distance from a main residence, or within a compound, typically whose architecture makes it an object of pleasure.”

Pavilion Bandar Puteri Puchong

Sat on the epicenter of Bandar Puteri Puchong,
Pavilion Bandar Puteri Puchong
 is THE Pavilion OF PUCHONG.

“Live above all”, Pavilion is the iconic residence of leisure, relaxation, pleasure in
Bandar Puteri Puchong
.

The Location

IOI’s Bandar Puteri Puchong Township

Before we go in the details of the development, let us share more on the location of Bandar Puteri Puchong.
Bandar Puteri Puchong
 needs little introduction, it is one of brand defining and signature township development by
IOI Properties Group Berhad
 (‘IOIP’).

Nestled along one of the busiest highway in Malaysia, LDP, Bandar Puteri Puchong is the ‘Optimus Prime’ of the ‘Puchong Transformers’, opps, we mean Puchong real estate. Exaggerating? Let us substantiate it.

Amenities

Normally we would list down what are amenities is nearby and so on forth.

Now you people tell us, what sort of amenities Bandar Puteri Puchong or Puchong ‘don’t have’???

There you go, if you insist!

Schools:  SJK (C) Kheng Chee, SJK (C) Ladang Harcroft, SJK (C) Han Ming, SJK (C) Sin Ming, Sunway International School, Taylor’s International SchoolRafflesia International School

Shopping Malls: IOI Mall Shopping Centre, IOI City Mall, Putrajaya, Sunway Shopping Centre, Giant & Tesco Puchong

Banking needs: OCBC, BOC, CITIBANK, Alliance Bank, Maybank, Standard Chartered, CIMB Islamic, Ambank

Hospitals: COLUMBIA Asia Hospital, Kajang Plaza Medical Centre, Sunway Medical Centre

Highways: LDP Highway, Bukit Jalil Highway, KESAS Highway, MEX Highway, ELITE Highway via LDP, SKVE Expressway via LDP, Federal Highway via LDP

Public Transportation: LRT Bandar Puteri Station, LRT Perindustrian Puchong, Rapid bus services

Accessibility
 and Future Infrastructures

Bandar Puteri Puchong LDP Interchange Upgrade Free Flow Interchange without Traffic Light at LDP

This is something the residents of Bandar Puteri Puchong can look forward in future.

We hear from reliable source that the current LDP interchange will be upgraded to free flow interchange without traffic light to make way to seamless flow to and from LDP. The access roads in Bandar Puteri Puchong will be widened to 3 lanes carriage way each way. The prospective owners of Pavilion Bandar Puteri Puchong can look forward to a better access within the Bandar Puteri Puchong Township in future.

7 Highways

Pavilion Bandar Puteri Puchong is accessible to 7 major highways in Klang Valley namely LDP Highway , Bukit Jalil Highway, Kesas Highway, MEX Highway via Kesas, ELITE Highway via LDP, NPE via LDP, federal highway via LDP.

As you can see, LDP is one of the most connected highways in Klang Valley. One of the drawbacks of having LDP its main access is JAM X 3.

LDP is often labelled as of the major highway in Klang valley with high volume of traffic plying the golden mile of Puchong. We often see slow moving traffic to LDP from Bandar Puteri Puchong during rush hours.

LRT is coming, LRT is coming, LRT is coming to Town

We hear these cries since years ago and finally we see light at the end of the tunnel. Bandar Puteri LRT station and Perindustrian Puchong LRT station are presently in advanced construction progress and scheduled to be completed in 2016. Residents in Bandar Puteri Puchong can look forward to an alternative mode of transportation going forward.

The Masterplan

Pavilion Bandar Puteri Puchong sits on a 5.6 acres freehold commercial land, it is the latest IOIP showcase of Integrated Lifestyle Development with concept “Live-Play & Work-Play Balance” Lifestyle with 3 components (i) Residences (ii) Shop Retail & (iii) Offices.

The Theme – The contemporary development is inspired by the philosophy of balanced healthy living   for all 3 generations, creating the perfect platform for the whole family to bond with each other.

The Concept – Inspired by movement and dynamism incorporating a series of pavilion architectural elements. The balconies feature interplay of walls at alternate floors as a pavilion façade treatment. Over 90% of the tower blocks are designed with North-South orientation with residence units enjoys unblocked view.

Green Feature – Design with ‘Semi-D’ concept complimented with lush 7ft height glass window façade and 8ft height sliding door for natural lighting and promote good cross-ventilation for every unit in the development promotes a sustainable design practice.

The development mix consists of

Residential: Service apartments (606 units from 983 sq.ft to 1256 sq.ft)

Pavilion Xchange: 101 units of retail /office suites

The focus this review will be on the residential service apartments.

Development details

Pavilion Bandar Puteri Puchong consists of 2 towers, Tower A – 284 units with 30 storey high, Tower B – 322 units with 33 storey high. Car park are designated at LG, Level 1 to Level 4, and finally lifestyle facilities podium at Level 5. There are 3 types of layouts for consideration:

TYPE A – 1,256 SQ.FT. 3 ROOMS 2 BATHS

TYPE B – 983 SQ.FT. 3 ROOMS 2 BATH

TYPE C – 1,256 SQ.FT. 3 ROOMS 2 BATHS with BALCONY

Unit Floor plan review

There are 2 wings in each floor and each wing consists of 5 units separate by the common lift. Each wing is made up of 2 units of type A/C and 3 units of type B.

There are 4 lifts serving in each tower, Tower A will have lift serving ratios of 71 units per lift while Tower B will have approximately 81 units per lift, pretty respectable ratio we would say.

The density for residential component is quite decent at 109 units per acre when it is benchmarked with mid-tier MK condos.

Type A/C

Measured at 1256 sqft, both types are configured as 3 bedder and 2 bathrooms. There isn’t much difference in terms of layout for type A and C. Type C comes with balcony while Type A is without balcony.

Type A and C come with good sized bedrooms and very practical layout.

The size of the balcony is approximately 36 sqft, balcony or not, choice is yours.

Type B

This is a smaller version of 3 bedder and 2 bathrooms without balcony.

Careful thoughts are given to these layouts, basically these layout configurations are very practical and optimised for space utilisation, as they liveable spaces are ‘squarish’ we expect them to be widely accepted.

But…..

We feel that perhaps type A/C can pack in maid room/study and maid toilet.

Placement of the common toilet for all unit type is towards the ‘inner part’ of the residence, in between the 2nd & 3rd bedroom, whereby it is only accessible via both 2nd & 3rd bedroom.

This may not too convenient to guests during day time.

On the contrary, how often do we have guests coming for visit, and wouldn’t the inner placement convenient to the home owner, this is debatable!

Let’s not drill so much on toilet affairs, that’s nature calls after all, this shouldn’t be a deal breaker.

Let’s look at the BIGGER PICTURE!

Semi-D in the Sky

We observe that not all units are ‘semi-d’ per say, at least not for unit 2 & unit 9, they look more of like ‘links’, however all the units are corner unit, those who look for privacy this feature would be a plus point.

Views & Orientation

View wise, you will be pretty much able to enjoy unblocked view if you are going for mid-high floor unit.  This is mainly due to Pavilion Bandar Puteri Puchong is located in the central of Bandar Puteri Puchong that is predominantly surrounded by quaint and mature landed houses as well as low to mid rise apartment & condos.

We would say the east orientated unit would be likely to enjoy brisk take up, as it enjoy the Ayer Hitam Forest Reserve. North facing would be favorable as well as it enjoys the Petaling Jaya skyline view, while south facing unit would also likely do well as it has its traditional staunch supporters

Facilities Deck The Pavilion

Located in the 5th floor of the development, the facilities deck is packed with the following fun fill features for both the young and adult.

The Active Pavilion is made up of half Basketball Court, Multipurpose Court and the Look Out Pavilion and The Garden.

The Lagoon Pavilion consists of Forum Pavilion (Multipurpose Hall) Lily Pad, Yoga Deck, Gym, Mini Theatre & Changing Room, Swimming Pool, Cabana, Submerged Pool Loungers, Kid’s Pool, Pool Jacuzzi, Tea & BBQ Terrace

For the younger ones the facilities deck is equipped with Kid Explore Pavilion, it consists of signature Forest Play-House and outdoor camping side for kids to break free and exploring outdoor activities in the safe environment.

Pavilion Bandar Puteri Puchong Signature Feature – The Sky Pavilion

Trending now in modern and upmarket condo developments are the ‘facilities in the air or sky decks‘, at Pavilion Bandar Puteri Puchong it did few steps further with its development signature, The Sky Pavilion, there are slightly less than a dozen of them.

There are 4 Sky Pavilions in Tower A and 6 Sky Pavilions in Tower B – 6, carefully designed and crafted for residents’ relaxation and rejuvenation.

There are sky pavilions dedicated to adult and kid on both Tower A and Tower B. The adult residents can relax, unwind and rejuvenate at Chill Out Lab and Sky Lounge – an entertainment area located at Level 26 and Level 27 of Tower A and at Level 29 and Level 30 of Tower B. While for kids, they can enjoy an interactive area with play role activities set-up to stimulate their mind at Play Lab and Reading Pavilion located at Level 25 and Level 26 of Tower A and Level 28 and Level 29 of Tower B.

It is worth to note that there are special additional sky lounges available for Tower B in Level 21 & Level 22, a unique selling point for Tower B owners.

Other features – 4 Tier security and HSB ready

Pavilion Bandar Puteri Puchong features 4 tier security:

1. With round the clock manned guardhouse, security control room and 24 hour security guards. Vehicle entrance with separate in/out lanes for residential and visitor, boom gates monitored by CCTV.

2. Ingress/egress at podium car park monitored by CCTV.

3. Restricted and controlled residential access lift lobbies area and lifts with access card to dedicated floor.

4. Digital locks door system (secured by password or access card at unit main door), intercom system and panic button link to guard house.

Commercial elements and Pavilion Xchange

Do you know that Pavilion Bandar Puteri Puchong is located walking distance with the Cube Bandar Puteri Puchong? The Cube also houses Starbucks Coffee and McDonald’s.

Pretty cool huh, that you can just take a stroll for a sip of coffee at one of Klang Valley biggest Starbuck outlet.

Pavilion Xchange

Pavilion Xchange is a 135 meter wide street frontage stretches across the busy dual carriageway of Lebuh Puteri. On Level 1-3, you will find lifestyle retail cum office spaces. We expect these shops will attract businesses to set up shops here due to high traffic exposure.

With these future residents of Pavilion Bandar Puteri Puchong will expect so enjoy commercial amenities with a short stroll from residence.

Show Flat Review 983 sqft Unit

What we have been observing and this is a real plus point, IOIP has always ensured that there is show unit for all its launches, no exception to Pavilion Bandar Puteri Puchong!

To developer, this is a showcase of commitment and consistency of IOIP brand to customer.

To customer, this is an assurance of the key furnishing and fittings as well as a preview of the look and feel of their future property.

What we like:  Layout is good and versatile for young family, well-known brand are used for toilet fittings, shower screens are given, designer toilet setting, the ceiling height at 3.3m, or approximately 11ft, yard, 3 air conditioners are provided

What we don’t like: Tile orientation for living room, no laminated flooring or timber flooring for bedroom, for 3rd room is small and air conditioner is not provided, why? There is no fitted kitchen cabinet provided however, we understand the developer is giving RM18,000 furniture package upon VP for house owners furnishing needs. So 4D, melamine, island, peninsular, solid surface or conventional concrete top, it will be the house owners’ call.

Important Future Catalyst

Pavilion Bandar Puteri Puchong is literally the next big thing in Puchong, and it has its self to thank for, located just a stone throw away from the widely anticipated mega mix development, IOI RIO City, Bandar Puteri Puchong.  Okay, take a deep breath ‘KEEP CALM AND READ ON!”.

IOI RIO City

Do you have any idea what IOI RIO City is all about and how would it impact Bandar Puteri Puchong Township?

RIO stands for Rejuvenated, Innovative and Original, IOI RIO City is a 72-acre metropolis consisting of secure work spaces, retail offerings, hotel and residences.

IOI RIO City will be a planned lively mixed-use district that based on sustainable concepts. It is an attractive choice for major community events in & around Bandar Puteri Puchong with its water promenade, hip attractions & vibrant public spaces walkable & cycle-friendly spaces amongst leafy streetscapes and lush open spaces.

Integrated Township in the making

IOI RIO City will integrate LRT stations with pedestrian network and other transport modes – bicycles, cars and pedestrian paths, shaded walks– underground and above ground & at street level with dedicated bicycle paths

Streets that connect a network of parks, open spaces, playgrounds, or similarly known as park connector in Singapore.

Imagine this, rail, sustainable transportations, recreational park, waterway, commercials precincts with a neighborhood mall, integrated with residential element.

IOI RIO City will be a complete sustainable township and Pavilion Bandar Puteri Puchong will stand to gain all, given that its location located strategically next to IOI RIO City.

New Development Comparisons

Developer

Development

Built Up (sqft)

Appr PSF

Malton

The Park Residence

800-1200

700-770

I&P

8 Kinrara

600-1300

600-620

IOI

Skyz Residences

1200-1700

600-650

Subsales Market Information

Developer

Development

Built Up (sqft)

Appr PSF

SP Setia

Setia Walk

1100

600-650

SP Setia

Trigon

600-1700

650-750

IOI

Skypod Residences

600-1200

600-700

Price Analysis

TYPE B – 983 SQ.FT, 3 ROOMS 2 BATHS start from RM604,300

TYPE A/C – 1,256 SQ.FT, 3 ROOMS 2 BATHS starts from RM748,000

Maintenance is expected to be approximately RM0.35psf

If we look solely at price point analysis, Pavilion Bandar Puteri Puchong definitely presents a very interesting proposition to investor and potential owner.

Pavilion Bandar Puteri Puchong is priced fairly given the prevalent market price.

Depending on what hat you are wearing, donning an investor hat, type B will be a good investment option, as it a smaller 3 bedder packed under 1000 sqft with 2 car parks, would likely to return with higher rental yield given a smaller quantum of capital requirement.

While for home owner, type A/C would a sound decision, we reckon the spacious layout configuration can be pretty comfortable to own stay for those who wants some extra space.

We understand that there are some very interesting financing packages offered by the developer, do visit IOI Sales Galleria at Bandar Puteri Puchong for more information.

The developer & IOI Brand

Led by the industry stalwart Tan Sri Lee Shin Cheng and his experienced lieutenants,  IOIP team is backed by the wealth of 30+ year experience in property and real estate development.

IOIP’s track record has been impeccable. It has been tested with time, over and over again for the past 30+ year and it has been consistent, meeting the financial, internal and external stakeholders’ expectations.

IOIP is a trusted household brand in Malaysia, it has always able to deliver what it has envisioned.

This is critical for would be house owners as property purchase is a major financial commitment as it would be wise to have your investment entrusted to a reputable developer like IOIP.

An Award Winning Developer

IOIP received various recognition from industry accolades, the group is the recipient of the coveted 2014 The Edge top 10 Malaysia Top Property Developers Award, BCI Asia 2015 Top Ten Developers Awards, Asia Pacific Property Awards for Highly Commended High Rise Landscaped Architecture for Skyz Residence.

Local and overseas projects

Group also has operations in Singapore and Xiamen, the People’s Republic of China (“PRC”), among others, second Xiamen venture, IOI Palm City is integrated development consisting of shopping malls, boutique office, hotel and residential components.

In Singapore, IOIP’s iconic South Beach development in Singapore, a joint venture with City Developments Limited, is also progressing well and is currently 55% completed. The development which was designed by Foster+Partners, will comprise residential, office and retail space. It will also have a 654-room hotel which will offer a revolutionary design concept by renowned creative designer Philippe Starck.

PROPCAFE verdict

Here is Pavilion Bandar Puteri Puchong checkbox:

Location, tick

Price, tick

Product design and features tick

Investment, tick

Palatable for future upgraders, tick

Ride on IOI RIO City integrated township as catalyst and unique selling point, tick, tick, tick, tick, tick

Next question, how many units to book?

Nah, we, at PROPCAFE normally do not issue buy, sell, hold calls, but Pavilion Bandar Puteri Puchong is definitely one of the strong contender for PROPCAFE Editors’ choice for FY2015.

IOI RIO City Master Plan (2015)

Pavilion Bandar Puteri Puchong Scale Model Picture Gallery

Pavilion Bandar Puteri Puchong Show Unit Picture Gallery (Type B – 983sf)

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PROPCAFE Peek : Penang‘s Development 槟岛发展概况

Last week when I reviewed the top 10 property investment hot spots of 2013 in Malaysia, I did touch a little bit of about Penang Island. Since, I received few emails, requesting me to cover Penang Island review in English language as well. The reason being some of the readers are not good in Chinese language or had never got the chance to learn it. Some have given comments that although they are Chinese by ethnic, their Chinese language is “as good as Tamil language”, thus based on such request, I would write the Penang review in 2 languages, which is in line with our blog’s theme, i.e. Bilingual Property Blog, as we are the only bilingual property review blog in the country.

For Penang property investment, the concentration has been in the Southern part of the Island. This is because the Northern Beach Areas such as from Gurney Drive, Tanjong Tokong, Batu Feringgi, Tanjung Bungah till Teluk Bahang, are flooded with many new developments, there are many projects still under constructions and currently there are oversupplies of condominiums in this vicinities, resulting in “got price but no market” or “price stagnant but no active transactions” kind of situation. Even the popular landed gated and guarded property such as the Moonlight Bay, after Vped for 3 years, the occupancy rate is still low, the occupancy rate is still disappointing low at around 20%, there are still some units available from developer, Ivory Properties, the biggest property developer in Penang.

Above Pic: Moonlight Bay by Ivory Property.

The central part of the Island or Georgetown area has been classified as UNESCO world heritage site, thus there are a numbers of restrictions on the new development such as the maximum height of the new building not to exceed 5 levels and etc.  The recent launching of Shorefront Luxury Condominium which next to E&O hotel, needs to follow the UNESCO requirement, when doing their product planning.

Thus the only potential development area is at the south east part of Penang Island. This area covers from the 1
st
 Penang Bridge till the Second Bridge in Batu Maung. There are few big projects ongoing for now in this area. To name a few:-

1)      Setia Pearl Island (112 acres), Setia Green, Setia Vista in Sungai Ara, and Setia new commercial development called Setia Spice, in PISA area, inclusive of Intenational Convention and Exhibition Area.

2)      Mah Sing’s South Bay development. Southbay township sits on a prime 35-acre site and features integrated commercial and lifestyle developments made up of a mixture of residential suites, office suites, Grade A offices, retail outlets, hotel and resort, and other recreational attractions.  (Sources: Mah Sing’s website)

3)      IJM’s The LIGHT Waterfront Penang, Pearl Regency Luxury Condo, The Adress, Vertique.  For commercial, The Maritime. Besides, IJM also in the plan of building Penang Waterfront Conventional Center (PWCC).  Both SP Setia SPICE/ Pisa and IJM’s PWCC can also be used to run the concert.

Based on the above 2 heavy weights conventional centers in the making, Penang will become the hot spots for international convention events. Penang airport has been extended to accommodate the growing numbers of international flights. Since the new DAP government in power in 2008, the Penang has gained greater attention and popularity from foreign investors, one of the indicators would be the number of international flights, for example, flights to and from Penang-Singapore has been increase to 40 flights per week, compared to only 8 flights per week between these 2 international cities before 2008. Flights to other major cities like Bangkok, Hong Kong, Ho Chee Mint City also been increased tremendously.

Below is the brief information on the 2 conventional centers:-

1)
SPICE （By SP Setia)

SPICE
, or the Subterranean Penang International Conference & Exhibition Centre, is an exhibition centre presently under construction at
PISA
,
Bayan Baru
, Penang. It is also often written as sPICE. The project said to cost between RM250 million to RM300 million is being developed by SP Setia Group for the Penang State Government.

SPICE will involve the construction of a semi-subterranean facility for conferences and exhibition. It will enlarge the area available at the Penang International Sports Arena. The project was originally called the Peanng International Convention Centre (PICC) but was renamed in an announcement made by Penang Chief Minister as mentioned in a report in
the Star
 on 16 January, 2011.

SPICE will include the Penang People’s Park, which provides environmentally friendly recreational facilities. I suppose the existing swimming pool at PISA will be upgraded and improved as part of the project. In addition, there will be a ball room and other function rooms. There will also be a multi-storey car park enabling the entire site to have a total of 2,200 parking lots.

The SPICE project has not been without controversy. Residents of Bayan Baru, Relau and other surrounding areas are concerned that SPICE will cause an increase in traffic congestion. As with many controversial projects in Penang (ie the Penang Bridge, the Jelutong Expressway, etc.), there would be many naysayers, but once the benefit is realized, the criticisms are quickly forgotten. Having said that, they are also controversial projects that stick out like sore thumb after their implementation. It goes to be seen whether SPICE will join the former or the latter

(Source: http://www.penang-traveltips.com/spice.htm)

2)      PWCC (Penang Waterfront Conventional Center, PWCC) – By IJM

(檳城）檳州第二座會展中心即將在明年動工，預計2017年正式啟用！

隨著檳州政府宣佈將湖內檳城國際體育競技場（PISA）改建為州內首座會展中心“sPICE”後，如今，又有新的一座會展中心出現在島上，恭候國際商家選擇。這座傲立在檳城大橋旁（E-gate對面），望向一整片蔚藍大海的新博覽場地名為“檳城海濱會展中心”（Penang Waterfront Convention Centre，PWCC），面積超過1萬平方公尺，耗資約3億4千600萬令吉。

可當演唱會場地

“檳城海濱會展中心”除了作大型會議及展覽用途之外，還能當成演唱會場地，可供9千個座位，是國內少有的世界級場地。此外，其附近還有設有酒店、購物廣場、辦公大樓和豪華公寓等，生活機能健全。該中心由IJM置地工程（IJM LAND）及新加坡新達城國際會議展覽中心（Singapore Suntec International Convention&Exhibition Center）的擁有單位Suntec國際合建，並由後者管理。

這個集展覽、會議、商務、餐飲、娛樂等多种功能為一體的大型建築，幕後設計師更是大有來頭！操刀者是來自倫敦Vx3建築公司的首席執行員兼設計總監萊銳奧托曼（Larry Oltmanns）。作為國際著名建筑設計大師，在全世界五大洲超過60餘個已建成項目，奧托曼吸引了一批才華橫溢的傑出設計人才共同組建了Vx3設計團隊，其中包括從80年代起一起共事的領導成員。

其國際著名作品包括位於比利時布魯塞爾的北約總部和位於維多利亞港的香港會展中心，另外，新加坡、澳洲阿德雷特以及印尼雅加達等會展中心，亦是其團隊的傲人作品。

林冠英：將成新地標

檳放眼成國際會議重鎮

檳州首席部長林冠英昨日（11日）見證IJM置地工程與Suntec國際簽約時說，這座極具現代感的會展中心在2017年啟用後，勢必成為檳城的新地標，更能協助檳州成為國內外舉辦博覽會或國際會議的重鎮！

他說，會展旅遊是新興的旅遊方式，它借助舉辦國際會議、研討、論壇等會務活動以及各种展覽而開展的旅遊形式，是一種商務旅遊方式。根據大馬相關組織透露，進行類似商務旅遊者每趟行程花費約7千令吉，是一般遊客花費的3倍。 他指出，全國各地目前共有14座知名的會展中心，遺憾的是，沒有一座是在檳城之內。“檳城海濱會展中心”將能填補檳城的缺憾。

“我希望會展中心在2017年1月1日啟用時，我們還是政府。我想見證這歷史性的一刻。”出席埋包括檳州行政議員曹觀友、林峰成、黃漢偉、國會議員黃泉安、州議員黃偉益、沈志勤及郭庭源。

最受歡迎國際會議國家

亞太及中東區檳排第
32

Suntec國際檳城分部首席執行員阿倫馬胡說，根據國際會議協會（ICCA）2011年的報告顯示，大馬是亞太及中東地區第七個最受歡迎舉行國際會議的國家，全球排名則為第二十九名。“檳城的排名，為亞太及中東地區第三十二名。若干年後，新的會展中心建成後，排名勢必可以往上爬，吸引更多外國企業來檳召開國際會議或舉辦博覽會。”他說，檳城擁有豐厚的本錢，包括具備世遺的光環以及多元豐富的文化色彩、美食，相信許多遊客會趨之若鶩，爭相走進這個城市。

鄭建民：貫徹
“
永續經營
”
理念

會展中心保留綠色概念

IJM集團首席執行員拿督鄭建民說，檳海濱會展中心是該集團旗下工程“The Light”之內的其中一項計劃，目前，他們已在進行填土中，明年將可正式動工。“我們希望這項工程可以給檳州帶來新的氣象，讓檳城在國際上重新被定義。”

他也說，有關會展中心日後將交給新加坡公司負責，對方的實戰經驗豐富，必定能夠協助檳城走向國際，迎接更多來自世界各地的客人。“會展中心的設計理念為‘可永續經營’，因此保留了許多綠色概念。從遠處看來，這座設計新穎的中心，就像是披上了閃閃發亮的外衣，在海洋一角發光發亮。”（摘自：星洲日報／大北馬）

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PROPCAFE Peek : PJ Midtown By IOI Sime Brunsfield

Petaling Jaya’s Section 13 has been going through huge changes since it was rezoned from industrial to commercial back in 2008, although back then there has already been the question of congestion, nothing much has actually been done to deal with this issue :
Rezoning may cause congestion
. Except the development of
KIDEX Skyway
 to supposedly help ease the notorious traffic around that area.  The KIDEX Skyway by itself, is a rather controversial project – with numerous groups/residents protesting against it.

Since then there has been a series of new developments seen in that area , the latest being :
Property projects with GDV of RM 2.5bil proposed for Section 13 PJ
.  Following map was taken from Lowyat forum :

Jaya One Evo
 – VP this year

Pacific Series :
Pacific Star
 and
Pacific 63

Centrestage

Future development by F&N

And the latest 2014 release, an integrated commercial/retail by the big boys – a joint-venture between of Sime Darby, IOI and Brunsfield, called
 PJ Midtown
.

Launched at a price of RM850psf prior to Chinese New Year, it has received a rather lukewarm response from the public alike.

Tenure : Leasehold

Density : 127 per acres

Total Units : 702units

It is located on the currently empty plot of land next to Ah YAt Abalone/Unique Seafood.  The highrise blocks basically face : Jln Kemajuan – South East, Section 13 – North West, and West – towards Centrestage.  There are altogether 30 floors, with the apartments starting from 8
th
 floor upwards, until the 29
th
 floor; and the 30
th
 floor will be the sky lounge; there are altogether 351 units in this particular launched block.

The units all come partially furnished with :

–       kitchen cabinet – hob and hood

–       wardrobe in master bedroom

–       wardrobe in second room

–       air cond units in living area, rooms

There are 3 different types of layout : 600sf, 900sf and 1200sf

600sf has all been “stickered’ (1 +1 layout) , 900sf (2 bedroom) still has units available, and 1200sf (3bedroom) limited units available.  All units come with 1 car park, except the 1200sf unit which has 2 car parks, with an option to purchase an additional carpark upon VP.  I find this 1-car park allocation rather annoying, whilst its acceptable for the 1-bedders to have 1 car park, to expect a 2-bedder to have one car park is quite ridiculous in this day and age.  Most households these days have a minimum of 2 cars – perhaps they expect the tenants to rent, or purchasers to buy the extra car park.  Anyway- regardless, the allocation of 1 car park for a 2-bedder is a big no-no. The proposed maintenance is a reasonable  RM0.21psf

The 1200sf layout is most interesting, whilst it is located on lower floors, it is on the same level as the resident’s car park.  The selling point of these units is that, the car park is located right outside the unit.  So similar to a house, the resident will not have to take any lifts to access the unit.  Later closer to VP time, the owner might have an option to purchase a 3
rd
 parking lot, which is side by side with the first two (non tandem).

Signing of the SPA should take place around May-June period, and the developer is currently offering 5% discount off listed price.  Booking fee is only RM5,000  The estimated completion time frame for this project is 48-months upon signing of the SPA.  Whilst most units are stickered, I do foresee some drop outs with the credit tightening these days – so buyers who are really keen on getting a unit, should get in touch with the sales office in Ara Damansara.

Sample pricing 13
th
 floor 900sf unit:

Unit price :                   RM 803,800

Price after discount :  RM 763,610  (works out to RM848psf)

Downpayment , 1
st
 5% : RM  40,190

Balance upon signing of SPA : RM 35,190

Conclusion :

Pricing, in terms of pricing, the units are offered at similar pricing to the Pacific series, 63 and Star, which I deem as not as more inferior to Midtown’s  location.  Whilst LRT is not a definite selling point, the developer sells the development on the merit of its locality and not so much on LRT connectivity.

With the current Jaya One Evo estimated asking rental of RM2000-2500 and subsale of RM 830psf, the Midtown project is deemed fair price in this location.

The facilities are rather limited, and to be shared with 2 blocks.  Future development of the surrounding industrial estate should do well for this project.  Location of being in heart of PJ, proximity to University Malaya, University Hospital, as well as easy access to Sprint/Kidex/Federal Highway means it is in an area with big population pool.

Target market ? Ownstayers perhaps – due to lack of new mass market sized condos (in the region of 1000sf) coming up in PJ.  There are some rental potentials once the area develops, specifically for the smaller units..  But owners should expect a below average rental yield, due to competition from small sized units in the area (e.g. Pacific series, Centrestage).  Large sized family units should be quite safe.

Upside potential on flipping – quite questionable, given its already rather high entrance price.

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