PROPERTY TALK BY S.C.CHEAH
FOUR new condominium and serviced apartment projects are coming up along a 1.5km stretch of Jalan SS16/1 in Subang Jaya.
The flurry of launches, with probably more to come, have cast the spotlight on this area where Subang Parade, Carrefour hypermarket, Wisma Consplant and the Petaling Jaya District Office are located.
Although Subang Jaya was developed in the late 1960s, there had been only a handful of apartment projects in this big township. In the early 1990s, there was a plan to have a massive condominium project in the present USJ11, but this was scrapped and link houses were built instead.
The pent-up demand for condominium living became evident a few years ago when new condominiums were launched in and around both townships.
The Jalan SS16/1 area where Subang Parade is located became an ideal choice, as there is also a KTM Komuter station just across the road from this shopping centre that is currently undergoing a major refurbishment.
So what are these four new projects?
Subang Avenue Serviced Suites: This is the new “kid on the block”, to be launched anytime now.
It is a joint-venture project by Sime UEP Development Sdn Bhd, Sime Darby Property Development Sdn Bhd and Brunsfield Subang Jaya Sdn Bhd. The joint-venture company undertaking the development is Sime UEP Brunsfield Properties Sdn Bhd.
This project is situated on a 2.87-acre freehold land sandwiched between Carrefour and the Tiaraville serviced apartments.
It consists of four blocks of 10-storey serviced suites with a recreational facilities level on top of the retail podium. There will be 280 serviced suites (70 units per block) of three-bedroom and studio types.
There are three functional designs, comprising 80 units of 1,308-sq ft three-bedroom suites, 160 units of 1,021-sq ft three-bedroom suites, and 40 units of one-bedroom studio type with a 558-sq ft built-up area. The prices start from RM318,800 for a three-bedroom suite and from RM189,800 for a one-bedroom unit. Each suite will come with a car park bay.
Facilities will include a swimming pool, gymnasium, sauna, multi-purpose area, kindergarten, state-of-the-art security systems and guest area. There will also be a five-storey retail complex with floor space of 240,000 sq ft and is poised to become Subang Jaya's trendiest retail, alfresco dining and entertainment centre with a total gross floor area of 540,000 sq ft.
Sime UEP Brunsfield Properties Sdn Bhd sales and marketing head Chan Chee Keong said the retail complex would be only for leasing purposes to ensure a good and controlled tenant mix. There will be two anchor tenants.
Saujana Residency: This 3.5-acre freehold serviced apartment has two 19-storey towers called Bayu and Suria with 175 units each.
It is on the same side of Jalan SS16/1 as the KTM Komuter station. A plus point is that it is fully residential, with no retail mix. Residents who treasure absolute privacy and peace without having to mix with the shopping crowd may like this project by the Lion group. The developer is Saujana Heights Sdn Bhd.
Residents do not need any retail lots as they can just walk across the road to Subang Parade to do their shopping. Carrefour is also a stone's throw away.
A nice show-cum-sales office has been built next to a car park where the project site is situated. There are two tastefully furnished show units. There are more than 12 layout designs from 585 to 2,535 sq ft. Prices start from RM168,000 for a one-bedroom unit to RM705,000 for a five-bedroom unit. There are six penthouses of 3,465 to 5,445 sq ft with prices from RM971,000.
It boasts over two acres of recreation and facilities area. Facilities will include an Olympic-length swimming pool, wading pool, covered terrace, two tennis courts, covered children's playground, over 3,000 sq ft of state-of-the-art gymnasium overlooking the pool and grand entrance, and over 1,800 sq ft of multi-purpose function room.
Recent checks showed that 70% of the units had been sold since the project's launch last December. The units are priced at an average of RM280 per sq ft. More than 1,000 people turned up for the launch, and 152 units were snapped up.
Jana Towers: An attraction is its “free maintenance” charge. The trade-off is that you do not get a free car park bay. You have to pay a monthly rent for the first bay for RM160 and the second bay for RM120.
The “apartment within an apartment” concept (first in Malaysia) also appeals to investors as there is a studio unit adjoining the main unit with its own access. You can either rent out the studio unit or the bigger unit, or even both.
Recent checks showed that more than 80% of phase 1 (314 units) had been sold. It boasts a 4.2-acre “park on the deck” with facilities like three swimming pools, including an oval-shaped pool, squash courts, tennis court, indoor badminton courts, gym, spa and sauna. Phase 2 with about the same number of units has not been launched. There is also a 38,000-sq ft commercial centre called Jana Village. The developer is Everest Point Sdn Bhd.
Tiaraville/E-Tiara: This serviced apartment project next to Carrefour is by the Titijaya group. It had been selling very well prior to the recent market slowdown.
It was the first of the four projects to be launched along Jalan SS16/1. The project is at an advanced stage of construction. It added an innovative retail concept when it launched Beauty City @ Tiaraville early this year.
In conclusion, with the current slowdown in the property market, developers must be wary of launching any more condominiums/serviced apartments, particularly in this area. Checks also showed that sales seemed to have slowed down generally.
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