KLANG Valley’s southern corridor is a goldmine for property developers, investors and corporations alike.
This is due to the improved infrastructure, connectivity and growing appeal of the area which holds potential for capital appreciation.
Stretching from Puchong and Seri Kembangan to Putrajaya, Cyberjaya and Sepang, remarkable growth in the form of new townships and infrastructure network, have spawned new opportunities over the past decade.
Property developers in this part of the Klang Valley have reported good take-up and sales for their launches.
According to IOI Properties Bhd director Datuk David Tan, the vast parcels of land had facilitated well-planned townships complete with wide main roads, shopping centres, town parks, amenities and a cosy neighbourhood.
“There are many development concepts here ranging from the niche Bali-themed Gita Bayu to the majestic boulevards of Putrajaya,” he said.
Tan said the Government's decision to locate the federal administrative capital Putrajaya, Cyberjaya IT City and the KL International Airport (KLIA) in this corridor had provided the impetus for rapid change.
“The northern part of Sepang enveloping Cyberjaya and Putrajaya will experience a faster growth rate , especially with the continuation of the South Klang Valley Expressway (SKVE) and a proposed dedicated highway from Kuala Lumpur to the KLIA.
“Within the next five years, the growth in this corridor will continue to outpace other parts of the Klang Valley,” Tan added.
From small-scale projects in the early days, developments have progressively become bigger as the more established developers buy up land to feature their brand of townships.
Concepts such as master planned townships with well-designed residential and commercial precincts and public amenities started to roll out and hyped up the addresses in the southern corridor.
Among the biggest beneficiaries of the southern boom are developers and property owners in Puchong and Seri Kembangan.
Glomac Bhd group managing director Datuk FD Iskandar said Puchong and Seri Kembangan had been growing most rapidly due to their proximity to Petaling Jaya and Subang, However, the southern locations would take a longer gestation period due to the distance from the surrounding established townships.
In Seri Kembangan, Equine Capital Bhd is sprucing up Bandar Putra Permai with its residential and commercial products in Equine Park, Putra Permai, Pusat Bandar Putra Permai and Permai Park.
With the recent opening of Jusco Equine Park, the township is fast turning into a bustling residential and commercial address.
Puchong's growth was expedited from the mid-1990s with the completion of the Kesas Highway, Lebuhraya Damansara Puchong (LDP) and the Elite Highway.
Tan said many established developers had made it a point to secure a project in Puchong so as not to miss out on this hotspot.
The developers to pioneer the Puchong building frenzy included Island & Peninsular Bhd, the developer of Bandar Kinrara, followed by IOI (Bandar Puchong Jaya) and SP Setia Bhd (Pusat Bandar Puchong).
Next came Bukit Hitam, Bolton, YTL Land, Glomac Bhd and Malton Bhd.
“Their presence has lent credibility and raised the image of the address. This speaks volumes for the immense potential of the Puchong market,” Tan said.
Sprawling townships such as IOI's 926-acre Bandar Puchong Jaya and 930-acre Bandar Puteri Puchong and the 900-acre Pusat Bandar Puchong by SP Setia Bhd, have transformed this once backwater of Klang Valley into a bustling neighbourhood.
Across the freehold former plantation land being occupied by the three townships, construction works for a number of residential projects are now underway behind the Tesco hypermarket.
These newer developments – including YTL's Lake Edge, Glomac's Lakeside Residences, Malton's Mutiara Puchong and Selangor Dredging's AmanSari – offer gated & guarded communities.
IOI, as one of the pioneer developers of this corridor, has established itself there with the 930-acre Bandar Puteri Puchong, which will take another three to five years to complete.
Besides Bandar Puchong Jaya, which is about 85% completed and Bandar Puteri Puchong (60% completed), it is also developing the 100-acre IOI-Palm Garden Resort (50% completed) at the fringe of Putrajaya.
Tan said with the fast depletion of land in Puchong, “Sepang will be next in line to experience rapid growth.”
His view was echoed by SP Setia group managing director and chief executive officer Tan Sri Liew Kee Sin who felt that Puchong's boom over the last decade might be nearing maturity as the property prices had appreciated significantly.
“Putrajaya as the new federal administrative capital has the advantage of a well-thought out master plan incorporating the best of what technology and nature has to offer,” Liew said.
SP Setia's associate company Setia Putrajaya Sdn Bhd is developing Precincts 9 and 15 in Putrajaya. Liew said most of the dwellers in Putrajaya were civil servants and the public had yet to shift to Putrajaya due to the perceived long distance from the city centre.
Putrajaya Holdings Sdn Bhd chief executive officer Azlan Abdul Karim said once the completion of the KL-Putrajaya dedicated highway spanning 26km from Kampung Pandan roundabout to Putrajaya would serve to make this address significantly more attractive to the masses.”
Located about 25km from Kuala Lumpur and covering 4,931 ha, Putrajaya, when completed in 2012, will be home to 335,000 people.
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