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RM3 Billion new town centre, are you ready?

Posted in Property, KL / Selangor

For those who do not know Kwasa Damansara is the master developer of the RM50 billion township development in Sungai Buloh. There were 20 Tier 1 developers selected earlier for the submission of proposals for the development of a town centre project. However, despite the deadline being 27 May which is a matter of days away, no submission has been received as yet, reported The New Straits Times. This township project alone is estimated to be around RM3 billion in gross development value. Personally, I like Sungai Buloh. This is because it’s still development at its early stages. Many still consider this being way too far. With MRT, this may change the perception a little and over time, Sungai Buloh may just be another sought after area. To be honest, maybe not Bangsar or Mont Kiara within few years but how about becoming the Bangsar or Mont Kiara of today within the next 6-8 years? Now, that’s interesting.

sungaibulohAccording to sources, only top three would be shortlisted and winner announced 6 months later. The developers invited for the RFP earlier includes Sunway Bhd, SP Setia Bhd, UEM Sunrise Bhd, Tropicana Corp Bhd, YTL Corp Bhd, WCT Bhd, Bandar Raya Developments Bhd, Malaysian Resources Corp Bhd, IOI Properties Bhd and IJM Land Bhd, Eastern & Oriental Bhd, DRB-HICOM Bhd, Mah Sing Group Bhd, Gamuda Bhd, Guocoland Malaysia Bhd, Goldis Bhd, I&P Group Sdn Bhd, Bandar Utama City Corp Sdn Bhd, Perbadanan Kemajuan Negeri Selangor and Putrajaya Holdings Sdn Bhd. Actually, there are some in this list which I personally do not think qualifies in terms of actual experience in township developments. Nevertheless, no one knows, perhaps after they win, they may do a joint venture with other more established ones? I seriously think so.

Today, properties in Sungai Buloh are considered affordable, especially the landed ones. The prices are not even anywhere near the condo prices in some part of Kuala Lumpur as yet. However, the main issues with this is that many felt the developments were not integrated enough, there are not enough attractions, for example a huge mall or even the upscale feeling that one would feel when one talk about certain upscale neighbourhood. The mindset remain that it’s just an area far out currently. Personally, if you are buying a new home, I think this is an area to consider. Go beyond just the typical mindset and you can see that for much lesser amount of money, you get much more bang for your buck. You are after all the one staying and not your friends.

written on 24 May 2014

Next suggested article: Greater KL – Sungai Buloh

 

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