The tipping point of transforming existing townships from good to great takes time. Years of steady cultivation coupled with proper planning nurtured by organic growth and a maturing process have resulted in successful neighbourhoods such as Old Klang Road, Puchong and Bukit Jalil.
BY YVONNE YOONG
SetiaWalk, developed by S P Setia Bhd is an integrated development comprising a shopping mall, hotel, SoHo units, retail offices and serviced apartments.
SPECULATION has been rife of late in the property sector regarding the state of the market given the recent onslaught of the goods and services tax (GST) that rode in on April 1, heralded by the storms that invade our evenings without warning of ambivalent hot- and then-cold weather situations.
As unpredictable as the storms have been, and even way before the implementation of GST, an air of speculation had already emerged with ongoing talks of scattered property bubbles arising in various township developments.
However, even as existing concerns envelope the nation as the cost of living continues to rise for the average Joe Public, some gung ho developers have continued to launch their developments amid the proverbial eye of the storm buoyed by still unmet, existing demand for housing outweighing supply.
Guided by gut instinct and also the proven outlines of previously tried-and-tested formulas, developers continue to bank on winning attributes that make a successful township such as amenities nearby and conducive locations adjacent to one’s place of work enabling easy travel.
They are considering with renewed interest the possibility of launching new projects in existing mature developments with infrastructure already in place even as land becomes more scarce and hence, costly.
After all, it makes sense that the existence of basic primary amenities such as sundry shops, schools, clinics and other secondary infrastructure already in place including shopping malls, hypermarkets, hospitals as well as a ready network of roads and highways linking up to other parts of the city will lend added attractiveness to new launches in older neighbourhoods.
“Established townships in good locations, excellent connectivity and easy access to the city tend to boost property values. Even in bad times, properties in these locations can hold their own. Although these older townships tend to have haphazard traffic that one can do nothing about, these areas still retain their penchant as good places to live, invest and do business,” opines PPC International (agency) chief executive officer (CEO) Siva Shanker.
PPC International (agency) CEO Shanker believes that even in bad times, properties in mature locations, such as Old Klang Road, Puchong and Bukit Jalil can hold their own and retain their penchant as “good places to live, invest and do business”.
As it is, he acknowledges that one will be hard pressed to be able to find any affordable housing gems located near the city going for anywhere between RM500,000 and RM600,000.
Thus, he believes that mature neighbourhoods such as Old Klang Road, Puchong and Bukit Jalil are now poised to be on the threshold of renewed interest abounding in terms of the property potential of these established townships.
Another plus point working in favour of developers planning to launch their developments in already established neighbourhoods is that they need not invest in basic infrastructure such as highways and main access roads to connect to other parts of town.
Shanker believes that developers are still keen to launch their developments in the remaining tracts of land in these older neighbourhoods as there is high demand for staying nearby one’s workplace in order to cut time spent commuting.
Amidst rising demand for housing to meet the population growth compounded by escalating property prices, mature neighbourhoods that were previously not looked upon as property hotspots are now experiencing a new wave of interest among developers who are keen to launch their new projects here.
Indeed, today’s savvy developers readily acknowledge that besides the workings of innovative designs heralded by the handsome coupling of architecture imbued with award-winning interior and landscape designs, the issue of safeguarding their developments are also seeing new gated and guarded (G&G) developments mushrooming in pockets of these mature neighbourhoods.
Old Klang Road sets new property standardAlthough previously perceived as a relatively lacklustre neighbourhood, Old Klang Road is now being viewed as holding great potential for development, given its close proximity to the city.
According to Shanker, the mature Old Klang Road location with its close proximity to the city center remains a hotspot in terms of property potential and mid- to long-term viability.
Its prized location linking up to Mid Valley City makes it a somewhat hidden and yet open secret, turning it into an old property hotspot worth revisiting judging from the current swarm of new developments mushrooming in various pockets of this thriving precinct.
Its commercial developments as well as food and beverage (F&B) outlets too are adding glitz to the Old Klang Road precinct that is connected by an arterial road meandering through various enclaves to Puchong.
The Scott Garden in Old Klang Road offers a tranquil environment complete with greenery.
“Scott Garden is a good example of a well-placed development in Old Klang Road. If you look at all the shops, restaurants and eateries buzzing with people, you will also notice that its centre court is the height of activity,” he says adding that with its arrival, the area which once used to be squatter settlement areas housing the lower middle-class segment of the population has now experienced a facelift and rejuvenation of sorts.
Tracing the early history of Old Klang Road, Shanker reminisces on the appeal of the township with the initial rise of the OUG enclave back then whose success spilled over to benefit the surrounding areas.
“OUG was one of the successful townships in the early days some 30 years ago leading to the fruitful beginnings of the Taman Desa success story alongside other residential and commercial developments located along Old Klang Road. It eventually became the epitome of a nice look-and-feel of its time which, being located approximately 10km away, is in close proximity to the city,” he recalls.
The Old Klang Road area he says, benefited from the enhanced connectivity of the neighbourhood.
“In early 2000, they upgraded Old Klang Road into a two–way traffic flow as it experienced massive traffic jam both day and night because this road alone led to the Federal Highway linking further to Taman Seputeh while the other linkage connected the Federal Highway to Old Klang Road, travelling onward to Sunway and Klang. Traffic was along the highway with the arterial road that led to either Klang or Puchong. But now, Old Klang Road is a nice double lane thoroughfare which can take you straight to the New Pantai Expressway (NPE) that takes you to Subang Jaya and can cut out to the Federal Highway and Lebuhraya Damansara Puchong (LDP).
“Suddenly, Old Klang Road is at the centre of everything because from the Old Klang Road, one can get unto a number of highways including the Sprint Highway to go to Damansara Heights or travel on the Federal Highway to the city center. There is also the NPE access leading to Sunway and Subang Jaya. One can also take the LDP to various parts of Petaling Jaya that will also open up to Sri Petaling while connecting to other areas as well.
“The LDP is the great arterial road that opened up these areas to the city. You must remember that the success of any place actually lies with its connectivity. If an area is not connected to all the other places, it won’t do well. It is simple logic,” observes the immediate past president of MIEA (Malaysian Institute of Estate Agents). Acknowledging that urbanisation is a necessary challenge in this day and age to address the forces of demand and supply in a delicate interplay given the rapid rise for the need for housing, he says that the development of new townships will have to be balanced by the maturing of existing townships that need to be nurtured at a steady pace.
SetiaWalk, developed by S P Setia Bhd is an integrated development comprising a shopping mall, hotel, SoHo units, retail offices and serviced apartments.
The new heartbeat of PuchongAccording to Shanker, Puchong is where “everything has changed” and which is “doing real great these days” in terms of its property potential. “It’s a great example of a successful township. A lot of it had to do with the Old Klang Road that became popular as a bustling township that kept going further southwest of KL to Puchong.
“The LDP opened up Puchong and now it’s a booming township. SetiaWalk, an integrated development comprising a shopping mall, hotel, SoHo (Small office Home office) units, retail offices and serviced apartments located along the LDP that was developed by S P Setia Bhd has also single-handedly brought up and assisted in changing the profile of Puchong, making the area high-end,” he says.
Tesco is also there, and so is IOI Mall, which has transformed Puchong from a sleepy hollow to a thriving township. All these factors have changed the face of Puchong. “There are also shops and hundreds and hundreds of houses and apartments doing well there. In my opinion, this trend will continue in terms of future developments continuing to expand. I think the values will go nowhere but up. Developments along this corridor will continue to go high-end because of the close proximity to the city and easy accessibility to other areas.”
Stating that it would be difficult to put a ballpark figure to the capital appreciation that would take place in this corridor, he nevertheless anticipates that the properties here would “easily yield a 10% to 20% increase in values within the next two to three years”.
Poised to be the next property hotspot for new home dwellers due to its strategic location tucked between Putrajaya, Cyberjaya, Petaling Jaya and Klang, Puchong’s elevated status in recent years has seen a natural push of house prices reaching new highs in the history of this place.
“I think that there will be a lot of new commercial and mixed-used developments that will do well here,” he says in speculation of Puchong’s impending growth potential.
The boom is reflected in the official opening of the Four Points hotel by Sheraton Puchong in Bandar Puteri, Puchong, a development undertaken by IOI Properties Bhd in December last year.
The boom of Bukit Jalil “Bukit Jalil was practically non-existent as a township. The rest of Bukit Jalil back then was brand new prior to the Commonwealth Games in 1998 as compared to Bandar Baru Sri Petaling now which is a huge township with lots of houses and commercial centres with the Endah Parade Shopping Centre developed by the I&P Group,” he says.
“It was previously the Commonwealth Village that saw the growth spurt of hundreds and hundreds of condominium units with the whole infrastructure having benefited from the games, with the biggest and most significant initiative being the LRT (light rail transit) leading to the Bukit Jalil stadium, the Bukit Jalil Golf Club and the International Medical University. Today, Bukit Jalil is a bustling area with the university attracting thousands of students.
“If you live in Bukit Jalil, you can take the LRT from there to go to other parts of KL. You can also drive from Bukit Jalil to Sri Petaling, and from there travel to Old Klang Road and to other parts of town as it’s very connected,” he says.
Hence, Bukit Jalil, boosted by strengthened connectivity, holds much potential as a property hotspot worth exploring as improved accessibility and connectivity continue to establish convenient linkages to other parts of the city.
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