Our 4th Prime Minister Tun Dr Mahathir Mohamad launched Cyberjaya in 17 May 1997. Yes, as at yesterday (10th May 2018), he is now our 7th Prime Minister. I think if Tun were to be officiating any events there in the near future, it would give a real sense of deja vu to him and everyone who worked together to make Cyberjaya a successful story. It was once mostly oil palm plantations but today it was reported that 72 percent of Cyberjaya’s land has been developed, under construction or in planning stages. Here’s that article in NST for your reference. Total size of Cyberjaya is 2,800 ha of mostly undeveloped land adjacent to Putrajaya which is Malaysia’s administrative capital. Let me tell you my recent experience with Cyberjaya.
I was supposed to run a half-marathon last week in Putrajaya’s Anjung Floria but due to some unforeseen circumstances, I could not do it. However, I had paid for a stay at a condo there and thus I proceeded with the plan to have a short break there. My kids enjoyed the pools thoroughly. (As if my current condo has no pools… Haha.) This was the condo I stayed and I think it’s very strategically located too; Cybersquare. Everything was literally within walking distance even if it’s not right beside. In the evening, I met some friends and even at 130am, Old Town was still full of people. The road signs may not be that friendly to me yet but the roads are certainly well kept and I could see that it’s still very clean, unlike some areas within Greater Kuala Lumpur. Cars are plenty enough even though there were no jams on a Saturday. DPulze and even Alamanda was sufficiently patronised but its not full to the brim. I also did not see retail lots with the ‘Coming Soon.’ sign which is prevalent in many newer malls these days. Good sign I think that it’s successful enough as a cybercity.
Let’s also run through some other updates by the K. Begum in her article in NST. She says that there are now quite a number of commercial buildings, residential blocks, offices for MSC-status companies as well as nine universities and colleges already established there. According to Cyberjaya’s master developer Setia Haruman Sdn Bhd, the town is today home to around 85,000 people and over 800 companies of which close to 500 are MSC status firms. There are today 20,213 completed residential units and 1,506 completed shops in Cyberjaya. Connectivity is also good. If one were to drive to KL using the Maju Expressway (MEX), it’s only 20 minutes away from Kuala Lumpur. MEX leads to the Elite Highway, from where drivers can then reach KLIA in another 10 minutes, while the South Klang Valley Expressway (SKVE) provides access to Port Klang. When it comes to public transport, there is the KLIA Transit (on the Express Rail Link network) serving Cyberjaya and Putrajaya via a station – Putrajaya/Cyberjaya. There is also the upcoming Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (MRT SSP) line which will see two stations serving the area — Cyberjaya City Centre (near Limkokwing University) and Cyberjaya North (near Skypark @ Cyberjaya). Both stations are expected to be completed and operational by 2022. There are also a lot of other details for the residential prices etc in the article for reference here.
What this tells us is that if we are thinking of investing in Cyberjaya, we should know why we are buying in the first place. Is it for own stay? Is it for the office workers in Cyberjaya who’s not staying there during the weekends? Is it for the tourists to Putrajaya, Cyberjaya or even the good food in Dengkil for example? There are many reports talking about the potential oversupply of units which may affect how we view an investment. If we are thinking of buying a unit and trying to sell it off in 2-3 years time, it may not work. If we are thinking of buying the units for AirbnB type of short term rental, it may actually work very well. I know because the place I stayed was well managed by the agent. I did not even get to meet him at all when I moved in and moved out! If we are thinking of buying to target the student populations, then buy as close as possible to such an institution plus must be near to all the cafes and lepak places too. After my one night stay the other day, I do think I will follow Cyberjaya a little more closely moving forward.
written on 11 May 2018
Next suggested article: There is no property bubble in Malaysia? Why it is so.