New investment opportunities in Kuala Lumpur…
Finding the right area to live in Kuala Lumpur can be overwhelming, especially with the emergence of countless residential projects. Not to mention the different terms developers are using for their projects nowadays – would a township, mixed-use development, or transit-oriented development be suitable for you and your family? More importantly, would it be worth investing in?
Before taking this big decision, consider the following details:
Price point – does the project fit your budget?
Location – is it central enough for your needs? Is it close to industrial areas which may affect the noise levels of the area?
Connectivity – does it contribute to the ease of your daily commute?
Facilities and amenities – are places like shopping malls, hospitals, schools, shophouses, and fire stations made easily accessible?
An area that is getting the attention of potential homeowners is KL North. Covering areas such as Kepong, Selayang, Sentul, and Jalan Kuching, the Department of Statistics estimates its population to reach 10 million by the year 2020. Thus, it is not surprising that property prices in KL North have been high in demand for the past few years.
Potential aplenty for residents of KL North
KL North’s new property development boom was set off by the announcement of the MRT2 construction. What made the area more appealing was the heightened focus that was put on KL North in terms of the number of MRT2 stations proposed in the area – 7 out of the 26 stations would be catered to residents here – helping greatly with congestion, accessibility and overall growth. Other than these proposed MRT2 stations, KL North is being further boosted with new developments and infrastructure such as several new highways, shopping malls, and commercial hubs.
Speaking at the ‘KUALA LUMPUR: The Coming Years’ sharing session held on 3 August, Ho Chin Soon, renowned mapmaker and Chairman of Ho Chin Soon Research, KL North has the potential to become a holistic hub that meets the needs of urbanites.
“KL North is surrounded by matured neighbourhoods developed with a myriad of options between landed and high-rise residences. Coupled with the continuous yet strategic developments, properties in KL North are scheduled to appreciate in value thus, expected to unlock future potential. Which is good news for first time homeowners who are looking for affordable properties that are close to the city centre,” he said.
“In fact, we are seeing an upward trend in the majority of homeowners looking to invest in condominiums or serviced residences. With 75% of urban residents projected to live in high- rise dwellings, developers are constructing projects that are able to make a provision for desirable and affordable housing in addition to good connectivity, simultaneously looking into revitalising economic development around transportation hubs,” he added.
In terms of upcoming residential projects in the area, a few developers have begun to embrace the Transit-Oriented Development (TOD) concept, which according to the Malaysian Industrial Development Finance (MIDF), is “the planning and building of a mix of housing, business, and other amenities close to a transit station”. With TOD, people increasingly use public transport, inadvertently supporting local businesses to make neighbourhoods a place to live, work and spend time.
Mr. Ho indicates of an upcoming TOD-focused project being jointly developed in KL North by Fortune Global 500 property developer, Country Garden, and Perdana ParkCity, an established and reputable property developer in Malaysia, “Lake City is slated to be a coveted TOD-focused property for Malaysians to reap the benefits from – consisting of an integrated mixed-use development with various activities available, walkways and cycling lanes, public amenities, availability of feeder busses and green buildings. These also correlate to the said developers’ HOPSCA concept referring to a large-scale, mixed use, commercial urban development”.
HOPSCA is a term that refers to the ‘Hotel, Offices, Parking, Shopping Mall, Connectivity and Apartments’ community. Thus, in contrast to a single-use development, such an integrated project requires a multi-pronged and multi-approach perspective in order to develop engagement with the community. Lake City is touted to be as multi-faceted as life itself, providing lakeside living for a wholesome living environment.
What’s more, future homeowners of Lake City will be able to foster a close sense of community through its vibrant waterfront area. Inspired by Kuala Lumpur’s very own ‘River of Life’ – the area is set to be the heartbeat of the development that offers high economic and commercial value, seamlessly connecting the lives of all residents and not only deliver housing, but also new employment opportunities, raise public transportation efficiencies, and reduce traffic demand.
As Malaysia’s property market is poised to gather further momentum moving into the second half of 2019, it is certain that property will remain to be a favourable investment option for many in Malaysia as the number of property investors in Malaysia grows. Touted to be the next big area, KL North has all the requisites for a good investment. Whether its location, type of property, accessibility, infrastructure, or public amenities, KL North is set to thrust its residences to a state of living that can only benefit them for the coming years.
For more information on the prospect of KL North as a residential area, and the Lake City project, log on to https://www.facebook.com/hochinsoonresearch/
About Country Garden Malaysia
Country Garden Holdings Company Ltd is a property development company based in Guangdong Province, China. It was founded in 1992 in Shunde, Guangdong and was listed in Global Fortune 500 list, one of the most authoritative rankings tabulating the business performance of companies worldwide.
Country Garden features a market capitalization over US$8 billion as of 2014 with more than 200 high-end township developments throughout China, Australia, Malaysia and Indonesia among its vast international project portfolio. To date, the company has sold properties to over 1,500,000 homeowners and employ above 100,000 people worldwide and 238 subsidiaries. In 2017, the company has achieved gross revenue of 226.9 billion yuan (approx. US$33.6 billion), a jump of 46 per cent year on year. For more information please visit: http://en.bgy.com.cn/
For regular updates on Country Garden’s Danga Bay, Central Park and Diamond City projects in Malaysia, please visit:
Country Garden Danga Bay: http://www.countrygardendangabay.com.my/
Country Garden Central Park: http://www.centralpark.com.my/
Country Garden Diamond City: http://cgdiamondcity.com.my/