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Damansara Perdana

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Damansara Perdana, located adjoining to Mutiara Damansara, is previously known as the native’s village, the development started in the 90’s by MK Land Group of Companies and has now become a famous business hub and home to be. The township is a combination of residential and commercial developments where residential are mostly of semi-detached houses, village houses and medium to higher-end high-rise dwellings. The commercial component is mostly made up of shop-offices and office towers. The earlier phases of business hub in the township are the Metropolitan Square and Perdana The Place. With the subsequent completion of PJ Trade Centre, Empire Damansara, Neo Damansara, Menara OBYU etc, supply of commercial space within the township has now increased substantially, changing the perception of the township from how it used to be.

Access to Damansara Perdana is rather convenient via Lebuhraya Damansara-Puchong (LDP) and Sprint Highway leading to Jalan PJU 8/1 when travelling by car. At the moment, no rail services or any proposed stations are available within the township. The nearest rail service will be the upcoming MRT station at The Curve in Mutiara Damansara which is about five minutes from Damansara Perdana.

A proposal has also been made for the Lebuhraya Damansara-Shah Alam (DASH), a 20.1km three-lane dual carriageway expressway that will commence at the Puncak Perdana U10 Shah Alam intersection and serves as a link for Puncak Perdana, Alam Suria, Denai Alam, Kampung Melayu Subang, Jalan Sungai Buloh, RRIM, Kota Damansara, Damansara Perdana and Mutiara Damansara. However, how much will DASH benefit Damansara Perdana has become a debatable topic.

Scheme

Built-up Area

Year

Average (RM psf)

Count

Armanee Terrace Condominium

2,280 – 2,710sf

2010

304

45

2011

326

38

2012

353

24

2013

349

12

Metropolitan Square

1,001 – 1,500sf

2010

332

88

2011

365

84

2012

424

44

2013

459

17

Perdana Emerald Condominium

800 – 1,000sf

2010

352

11

2011

399

17

2012

438

13

2013

535

6

Perdana Exclusive Condominium

750 – 1,000sf

2010

279

165

2011

327

66

2012

373

60

2013

416

15

Ritze Perdana

380 – 500sf

2010

514

119

2011

598

95

2012

656

84

2013

690

32

Perdana View

1,001 – 1,870sf

2010

297

11

2011

329

10

2012

359

15

2013

374

7

501 – 1,000sf

2010

295

28

2011

335

40

2012

399

31

2013

437

9

Flora Damansara

650 – 850sf

2010

129

88

2011

147

187

2012

159

207

2013

183

109

In terms of property values, most of the transactions recorded from year 2010 to 2013 are of apartments/condominiums. Records indicate that the transacted prices of the high-rise dwellings are having a positive and stable growth (see Apartments/Condominiums Transactions 2010 to 2013). Amongst the selected schemes and sizes, Perdana Emerald, Perdana Exclusive, Perdana View and Flora Damansara have recorded the highest rate of increase from 42% to 52%. However, the number of transactions has decreased from year 2010 (31%), 2011 (30%), 2012 (27%) to year 2013 (12%), which could possibly be caused by the higher price level and competition from the new products in and outside the township. Flora Damansara recorded the highest number of transactions, apparently due to its low per square foot prices.

Semi-detached houses on the other hand remained stable in the past three years. The number of transactions soared in year 2012 and 2013 compared to 2010 and 2011 but they are still way lesser compared to the high-rises.

Generally the recent development mix in Damansara Perdana is rather equal across terrace houses, semi-detached homes, apartments, shop-offices, hotels and office towers. Other than the ones that are already built, there are also those in the process of application such as the residential development comprising bungalows, zero-lot bungalows and semi-detached houses by Agro Fresh (M) Sdn Bhd.

On-going Projects

Developer

Type

Empire Residence

Mammoth Empire Land Sdn Bhd

750 units of 3-story terrace houses

Metropolitan Square

Saujana Triangle Sdn Bhd (subsidiary of MK Land)

16-story (186 units) and 23-story (258 units) apartments

The Altium

Nusvista Development Sdn Bhd (subsidiary of Gabungan AQRS Bhd)

1 block of 11-story office tower, 1 block of 22-story office tower and 1 block of 3-story commercial building

Armanee Terrace Condo

Saujana Triangle Sdn Bhd (subsidiary of MK Land)

1 block of 36-story apartment (518 units)

Empire City

Cosmopolitan Avenue Sdn Bhd (member of Mammoth Empire Holding Sdn Bhd)

2 blocks of 26 & 43-story hotel, 10 blocks of 12 to 43-story office building and 1 to 8-story shop-offices

Currently, Mammoth Empire and MK Land are the active players in the township. According to Lau Shu Chuan, CEO of MK Land Holdings Bhd, the developer is planning to launch at least RM500 million worth of properties this year depending on market sentiments as the company still owns approximately 101 hectares of land in Damansara Perdana.

Overall, Damansara Perdana is conveniently located, neighboring a few established schemes such as Mutiara Damansara, Kota Damansara, Bandar Sri Damansara, Taman Tun Dr Ismail, to name a few. It also enjoys the facilities and amenities from these neighboring schemes such as One Utama Shopping Centre, The Curve, E@Curve, IPC where Ikea is and more. With such a backdrop, the township has been growing fast in the past decade although there is still plenty of land to be developed. And judging from the price trend, there was no sign of prices dropping especially the high-rises and this is expected to continue in the near future as well. Questions nevertheless arose in recent times as the number of transactions decreased from year to year in tandem with the decreasing demand since the group of people who are able to afford at such prices become lesser and lesser. Where then shall these existing properties stand in the property market in the coming future is anyone’s guess.

Article written by Sr Wong Wen Chet and Sr Kok Chin Yee of Oregeon Property Consultancy Sdn Bhd. Property transactions and values are by Oregeon Property Consultancy Sdn Bhd Research Team. The article represents their personal views.