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EXPERTS’ VIEWS | Greatness or a Gamble Sierramas is quite possibly Sungai Buloh’s most famous enclave. Will the upcoming developments in the area see similar success Why LC: It has taken a while but Sungai Buloh has come of age. When one thinks of Sungai Buloh, especially those of us in the real estate business and profession, one associates it with Sierramas. A gated and guarded community sought after by expatriates, it is a mere 15-20 minutes’ travel distance away from both Petaling Jaya and Kepong. The siting of the ELC International School there has also drawn the expatriate crowd. Now that it is evolving and creating newer townships, upcoming developments such as Aman Putri by PPC Glomac Sdn Bhd and Bandar Seri Coalfield by Villamas Sdn Bhd will all be riding on the fame of Sierramas. I can see Sungai Buloh evolving into a modern township complete with gated and guarded communities and amenities. Considering its proximity to the mature townships of Kepong and Desa ParkCity, it is a given that upcoming projects will be successful. The projects will definitely be a lot more affordable than those at the heart of Petaling Jaya but will still be in close proximity to Taman Tun Dr. Ismail, Bandar Utama and Damansara Utama. It even has useful amenities such as international schools, Tesco and AEON for the residents’ everyday needs. JT: Possibly, but there is one small issue. Sierramas has an established name and at its doorstep is the KTM station. It also has a reputable developer. Its occupancy has been so great because of so many reasons but mainly because it was cheap when it debuted on the market. As for the success of new developments in the area, there is one big thing to look out for which is the Rubber Research Institute Malaysia (RRIM) land. However, there is a good chance that they will see success due to the benefit of having Sierramas as a neighbour. KL: It is unlikely that others will be able to replicate the success of Sierramas as it was conceived with a clear objective of offering a different lifestyle which was introduced for the first time into Klang Valley. The relatively cheap land costs for Sungai Buloh at that time enabled the developer to incorporate generous landscaping and layout concepts which contributed largely to its appeal. Since then, spiralling land costs, exacerbated by the growing attention on Sungai Buloh from the MRT Lines, has made it difficult to introduce such concepts. Nevertheless, the MRT line will create new demand for Sungai Buloh albeit one dissimilar to the kind seen in Sierramas. It is expected to boom as a new growth centre particularly with both MRT lines starting off from there and as a middle- and upper-middle-income community instead of a high-end locale. Bangsar South carries a distinguished name but still brings with it a semblance of its prior self as a more affordable, low-cost façade. Will the uplift of the area affect its current residents negatively LC: All I can say about Bangsar South is that I am totally amazed and impressed at what the major developer, UOA 46 |
Group, has done to the area. I was working that area in my early days as an estate negotiator and used to rent out apartments in Pantai Hillpark and Pantai Panorama. We worked for a short while with the UOA Group on their Park Residences and I can only say that such developments will be good for its residents. Firstly, it increased the value of their properties. Secondly, it brought good infrastructure to the area and thirdly, it branded the area as Bangsar South, playing on the idea of the higher-end perception of the neighbouring Bangsar. It can only bring positive change in the future. JT: When you look at Bangsar South and its density, it begs the same question as Mont Kiara does: where is the exit point It is just blocks and blocks of developments but the jam starts right at the doorstep. Having said that, I would note that one of the upcoming developments there, KL Gateway has a good location. Overall, Bangsar South is sited on a good parcel of land. There is an LRT station which is University Station and it is smack in the middle of Bangsar proper and Petaling Jaya as well as on the Federal Highway. With so many big developments coming up in the area, I do not think that it will affect current residents in any negative way. UOA Group has a lot invested in the area so I highly doubt that it will fail in their more than capable hands. As with most places in Klang Valley, the biggest concern would be the potential congestion of an already-congested area. Their only option is to create a slip-road or overpass onto the other side of Federal Highway. That, however, is extremely unlikely. KL: Bangsar South may have started off with a negative stigma attached to it but it has successfully overcome this and found great success. The worn-down and dilapidated environment which would have hitherto turned off major corporations has since been spruced-up with infrastructure improvements and continuing upgrades that have and will continue to only add value to this locale. Its continued growth with more developers crowding in will surely raise capital values there. Contrary to negatively impacting its current residents, it is a unique opportunity for wealth creation and new conveniences which were not possible in its former shape and form. Bandar Tun Hussein Onn sits in a location filled with potential but plagued by traffic. Will the MRT line and LRT extension change this or is there more that needs to be done to turn the area into more than just a part of Cheras JT: Without a doubt, the rail lines will definitely change things mostly because there is no other choice. When you think about it, what alternative do they have They cannot build another highway in the area. The SILK Highway is fantastic and it has also brought in a lot of great amenities such as the AEON outlet in the area. The widening of the Cheras-Kajang Expressway was also a smart move. What needs to be done is some kind of integration. The “ One of the many advantages that Cyberjaya has is that it is an administrative centre which is quite wellthought-out even as a township. ” biggest downside of Bandar Tun Hussein Onn and Cheras is that pockets of land are developed by different developers. That has also contributed to the slow increase of capital appreciation especially as township developments tend to appreciate at a much faster pace. One move which will positively impact the area is the building of big parking stations at all the public transport stations. Releasing more government land in the area will also allow for more versatile developments to be created. KL: Bandar Tun Hussein Onn will begin to experience better growth once the train lines are completed. This could be enhanced with better facilities and amenities in the area which are better planned. There are opportunities for this due to the large land areas which are still available for development in the immediate and secondary surroundings. Klang Valley’s property prices are nothing to scoff at. How will the simultaneous development in its most distinguished areas affect its affordability aspect LC: It has definitely gone beyond what everyone expected. There is a Chinese saying that roughly translates to, “My glasses fell off!” About six to seven years ago, I told people that 2-storey link houses will go up in price to about RM600,000 and everyone scoffed at that. At the time, prices for these homes were around or below RM300,000. At present, we are looking at well above the RM1-million mark for those exact same houses. These days you cannot put ‘distinguished area’ and ‘affordable’ in the same sentence. Many people, especially those belonging to Generation Y, have come forward to look for houses to invest in. They are always plagued either by the affordability of the property or credit crunching by the banks. Singapore has seen property prices drop by as much as 30%, so hopefully there will be a similar correction in Malaysia as well. Most first-time homebuyers dream of having a home for their families but end up having to ask their parents for help to do so. It has really gone past just an issue of affordability. JT: I am of the opinion that affordability cannot even be discussed as it is a perennial problem that is never addressed. It will further be pushed against a wall when the Goods and Services Tax (GST) hits. As for simultaneous development, it sounds great but if no one can buy these homes to stay in, what would be the point | 47
Page 4: EDITOR ROSHAN KAUR SANDHU WRITERS O
Page 8: CONTENTS January 2015 Investment Ti
Page 12: HAPPENINGS Sunway Adds Education to
Page 15 and 16: Distinguished guests give the PCA a
Page 17 and 18: Best Commercial Development - Mah S
Page 19 and 20: one-stop shopping haven, the mall w
Page 21 and 22: 4 5 6 | 19
Page 23 and 24: | 21 1
Page 25 and 26: 2 PROJECT NAME: M Residence Canal L
Page 27 and 28: ABSOLUTE RELAXATION The Skies Villa
Page 29 and 30: people to major cities such as Kual
Page 31 and 32: them to gain financially from the i
Page 33 and 34: When talking to Chris, he made one
Page 35 and 36: logic is that the government is now
Page 37 and 38: want homes where the smell of paint
Page 40: CALLING ALL HOME OWNERS! Has Everyt
Page 44 and 45: PICK OF THE MONTH | The Next Nucleu
Page 46 and 47: EXPERTS’ VIEWS | Greatness or a G
Page 56 and 57: MARKET INSIGHT | Growing Trends: Pr
Page 58 and 59: MARKET INSIGHT | Growing Trends: Pr
Page 60 and 61: LET’S TALK | Perbadanan PR1MA Mal
Page 66 and 67: Property Investment Data | Oregeon
Page 72 and 73: HAPPENINGS Property Market Sees an
Page 74 and 75: SINGAPORE | Awards 72 |
Page 76 and 77: SINGAPORE | Investing in Asia INVES
Page 78 and 79: MARKET OUTLOOK | Singapore Property
Page 80 and 81: INTERNATIONAL PROPERTY INVESTMENT |
Page 82 and 83: INTERNATIONAL PROPERTY INVESTMENT |
Page 84 and 85: CONTRIBUTOR | HBA ENFORCEMENT UNDER
Page 86 and 87: CONTRIBUTOR | HBA person who had po
Page 88 and 89: CONTRIBUTOR | Dato’ Joey Yap THE
Page 90 and 91: CONTRIBUTOR | Dato’ Joey Yap PIG
Page 92 and 93: CONTRIBUTOR | Dato’ Joey Yap RABB
Page 94 and 95: OFFICE DESIGN | Suites for Every Ta
Page 96 and 97: TIPS & TRICKS | Simply Green SIMPLY
Page 103:
Outside Klang Valley | LATEST DEVEL
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CLASSIFIEDS SECTION PROPERTY BELOW
Page 109 and 110:
CLASSIFIEDS SECTION Bukit Jalil, La
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CLASSIFIEDS SECTION City Centre, Se
Page 113 and 114:
CLASSIFIEDS SECTION Kenny Hills, Ti
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CLASSIFIEDS SECTION Petaling Jaya,
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CLASSIFIEDS SECTION Sungai Besi, Th
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CLASSIFIEDS SECTION PROPERTY OUTSID
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CLASSIFIEDS SECTION Johor Bahru, TA
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