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Bandar Sri Damansara: Peacefully Forging Forward

Area-Focus_SriDamansara

Destined for Distinctive Upmarket Development

The subtle Bandar Sri Damansara township (BSD, postcode 52200), which comes under the jurisdiction of Petaling Jaya City Council (MBPJ), has been in existence since 1996. It is a corollary freehold commercial and residential developed area conquering a size of 200 acres.

2Bandar Sri Damansara is highly accessible via four major highways, namely the New Klang Valley Expressway (NKVE), KL – Kuala Selangor trunk road (Federal Route 54), Middle Ring Road 2 (MRR2) and the Damansara – Puchong Expressway (LDP). Entering from the main entrance to BSD, one will see 8trium on the right, an office tower with a retail podium by master developer Land and General (L&G). Located on a piece of land measuring 2.65 acres, the project caters to 300,000 people living within a 5km radius. On the left, it is the sports and recreational club Sri Damansara Club with a vast golf driving range, developed by L&G in 1995.

BSD is a mature township developed with freehold terrace houses, semi-detached houses, condominium, apartments interspersed with pockets of commercial development. Located close to townships like Bandar Menjalara, Prima Damansara, Damansara Damai, Damansara Perdana and Mutiara Damansara, BSD is known as a serene neighbourhood. It boasts of an oval shape circular main road which can be clearly seen from an aerial view, which is highly popular among joggers and cyclists.

Hotel S. Damansara, a boutique hotel, enjoys brisk business as it is conveniently located 45 minutes’ drive away from Kuala Lumpur International Airport (KLIA), or just 10 minutes’ away from the shopping paradise of 1 Utama, The Curve, Ikea and Tesco, and even Kuala Lumpur downtown is just 30 minutes away. On the other hand, Ibis Styles, KL, a premium economic hotel located along the KL – Kuala Selangor trunk road, offers another accommodation option for leisure and business travellers.

Regarding the future developments of BSD, Dato’ Muhammad Nawawi Mohd Arshad, the chairman of Nawawi Tie Leung Property Consultants Sdn Bhd said, “Being a mature township, BSD has less new development taking place due to the scarcity of land. Hence, it is highly possible that the newly launched properties will be mainly the stratified properties with small parcel units.”

The future development by TA Global Bhd that Dato’ Nawawi mentioned will comprise 2 dynamic towers that come with a retail podium as well as a variety of facilities at the rooftop. It will be launched later this year.

While the property prices within BSD was basically stable with normal growth, the advent of mass rapid transit (MRT) service is anticipated to elevate the property prices here to a higher level. Since the partial opening of Sungai Buloh – Kajang MRT Line (SBK Line) from Sungai Buloh up to Semantan in December 2016, BSD residents are given a new option to travel as Sungai Buloh MRT station is situated about 5 km away. However, when the upcoming Sungai Buloh – Serdang – Putrajaya MRT Line (SSP Line) opens in 2022, BSD will have its own MRT station, and it will definitely boost the demand and prices of nearby properties.

On the latest price movements, real estate negotiator Yip Zhen Hao from Cornerstone Realty disclosed that, “For high rise residential properties, the average transacted price is RM520 psf. The older apartments and condominiums are transacted on average of RM470 psf, while the new condos were transacted at RM530 psf.” Citing the data from Brickz Research Sdn Bhd, he said that from January to December 2016, there were 91 transactions for landed properties at Sri Damansara, with an average price of RM664 psf.

Concurring on the facts that MRT service is coming to a mature township with land scarcity, Yip also predicted that most of the new development in BSD will be high-rise properties, and that the price per square foot will continue to appreciate for the next 5 years due to higher demand. Yip added that the latest project launched in BSD was the Amanja Semi-Detached Suites, while there are also 2 upcoming projects to be launched, namely the Ativo Suites at Damansara Avenue, and the phase 2 of Damansara Foresta.

As for industrial transactions in BSD, reports from Brickz disclosed that intermediate terrace factory and detached factory lots, transacted prices of RM950,000.00 (built-up area 1100 sq. ft.) to RM9.6 million (built-up area16,218 sq. ft.) were recorded in the years of 2015 and 2016. Currently there are only 2 industrial areas in BSD, namely KIP Industrial Park and Tago Industrial Park.

The research and consultancy team from Knight Frank Malaysia remarked that, “8trium is a business hub spanning over 2.65 acres of freehold land in Sri Damansara. It is consisted of 2 blocks of 21-storey towers, containing office suites and retail outlets. There is a total of 130 units in each tower with built-up areas ranging from 500 to 7,130 sq. ft., offering a net saleable area of 125,000sq. ft. The corporate headquarters of Land & General is also housed in the Atrium Menara 1 currently.”

She said within the housing area of BSD, the transacted price of a 3-storey shop office unit at Jalan Damar SD 15/1 is analysed to be at RM421 psf. Meanwhile, the transacted price for a 2-storey shop office unit at Jalan Dangan SD 2/1G, adjacent to the industrial area of BSD, works out to around RM393 psf.

Datuk Sr Siders Sittampalam, managing director of PPC International Sdn Bhd commented that, “Since BSD is predominantly an established neighbourhood, we do not foresee any major new development other than Damansara Avenue and Damansara Foresta coming on stream. However, if Land & General Bhd pursues with the redevelopment of Sri Damansara Club, which comprises 36 acres of freehold commercial land, then we will see a new commercial centre within BSD.”

Generally, he said that property value would experience significant appreciation with completion of mass rapid transit (MRT) lines. Since the construction of Sungai Buloh – Serdang – Putrajaya MRT Line (SSP Line) is scheduled to complete in the year 2022, the accessibility of BSD will improve by leaps and bounds, in contrast to the car-centric traffic pattern in a neighbourhood dominated by landed properties.

TA Global Berhad’s head of group sales and marketing, Eusoffe Chua said, “Damansara Avenue (DA) delves deeper beyond the conventional parameters of building commercial and residential components. It is the philosophy behind this concept that imparts a different perspective, which is appealingly healthier and dwells at an easier pace of life.” The project will be surrounded by 11 acres of greenery, thus flowing positive energy and weaving harmony across the community.

6_March Issue 45Eusoffe highlighted that as BSD is a mature neighbourhood, plenty of amenities can be found within its vicinity, however, most of the existing amenities are widely scattered. Therefore, TA Global Berhad planned to develop Damansara Avenue, an integrated 48-acre master-planned community that encompasses a variety of amenities, which will connect the people within the community.

“We are positive on the price appreciation in Damandara Avenue. Thus far, we have completed and handed over Ativo Plaza (office suites and lifestyle retail outlets) and Azelia Residence (Residential) in Damansara Avenue. In 2015, Ativo Plaza was awarded ‘The Edge Malaysia – PEPS Value Creation Excellence Award’ for the outstanding performance in value creation.”

The Damansara Avenue project will be carried out phase by phase, with products such as service apartments, corporate office towers, stratified offices, shopping mall, retail outlets, hotel, sports complex, convention hall and performing arts center targeting different groups of buyers. With the future phases of development and infrastructures planned for Damansara Avenue, TA Global Berhad believes it will add more value to the properties within the development.

TA Global Berhad found that BSD is well-positioned to enjoy great accessibility. As mentioned earlier, BSD is easily accessible via major highways. In the future, a slew of new projects will improve the connectivity further, for instance the upcoming link bridge to the nearest MRT station, Sri Damansara East MRT Station, the proposed flyover from BSD to Desa Park City, as well as the proposed direct access road to LDP and MRR2.

Eusoffe was delighted to emphasise that, the Azelia Residence in Damansara Avenue, which have been completed and handed over was sold at an average rate of RM600 – RM650 psf. However, since the handover, the highest transacted sub-sale price recorded was RM974 psf. As for the competitiveness of this project, Eusoffe stated that its charm is unmatched as “There is other integrated master-planned development in BSD at the moment.”

Senior real estate negotiator of The One Property International Sdn Bhd, Aida Mustaffa exclaimed that BSD is a wonderful neighbourhood to live in, and one that has seen tremendous growth in the past few years, with the completion of exciting projects such as 8trium, Ativo Plaza, Azelia Residences and Damansara Foresta, just to name a few.

“People like its strategic location, and the fact that it has grown to be this self-sustaining township with plenty of amenities available. Besides being very peaceful, BSD also has a good ethnic and income group mix that create a vibrant community,” said Aida. Security has improved a lot too, as most clusters of homes have recruited private guards. There are also a few schools to be found within the vicinity, so it continues to attract families and is ranked as one of the most sought after real estates in KL.

Aida would like to reiterate the fact that, while the prices for terrace houses in BSD have increased ten-fold in the last 20 years, it still is a very good investment for those who start buying now, as buyers could expect a healthy capital appreciation for the next 5 years.

And the good news is, in 5 years’ time, not only is Damansara Avenue expected to be completed; the building of Duta – Ulu Klang Expressway phase 2 (DUKE 2) and the Sungai Buloh – Serdang – Putrajaya MRT Line will also be completed. DUKE 2 will relieve traffic on the heavily used LDP and offer alternative routes to and from downtown. Cutting the travelling time drastically, it will turn BSD into a much more favourable place to live. On the other hand, the Sungai Buloh – Serdang – Putrajaya MRT Lines will offer residents a quicker way to get to KLCC and Tun Razak Exchange (TRX), thus continue to sustain the demand for properties in BSD too.

Land & General Berhad, sales & marketing department & business development, head Chee Kok Keong said their latest development of 2nd phase of Damansara Seresta will be launched in Q2 2017. It is on a 6.2acres land with 452 units with layout sizes from 1260-3196sq.ft. It includes generous provisions of facilities at level 8 podium and on 43rd level.

As for Damansara Foresta, Chee remarked “When Damansara Foresta was first launched, the average selling price was 430psf. Now completed and handed over to purchasers in early 2016 and averagely selling at RM550-600psf. Sub-sales transaction have been active as prospective buyers appreciate the concept and design of Foresta Damansara and the nature of forest surrounded the development,”.

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