Property Insight > Area Focus > PUTRAJAYA Exciting future for property investment in the administrative capital

PUTRAJAYA Exciting future for property investment in the administrative capital

 

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Putrajaya is strategically situated between Kuala Lumpur and Selangor. It is served by a network of highways and the Express Rail Link (ERL) from KL Sentral Station to KL International Airport (KLIA) via Putrajaya Central located at Precinct 7 and is a freehold land that is surrounded by many facilities, from shopping malls Alamanda and IOI City Mall to the convention centre, hospital, recreational hotspots and of course government offices.

CHALLENGES WITHIN

AJC Planning Consultants town planner Ahmad Jefri Clyde says: “Putrajaya has been well-planned and executed. It offers an excellent example of where attention to detail and adoption of higher quality solutions leads a superior and lower maintenance outcome cost for the cooperation. Putrajaya and KLIA have acted as major economic catalysts that have induced urban growth in the Greater Kuala Lumpur conurbation’s southern corridor. Unfortunately, the planning process has seen these two destinations as “end points” and not as important parts of the urban growth phenomenon.

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“To address this issue and to anticipate the scale of urban growth — extending into Negeri Sembilan — there is a need for a coordinating agency that will plan for positive growth in the provision of urban infrastructure such as public transport, sewerage and waste management, water and power distribution and provision of public facilities inclusive of regional level park lands,” Jefri says.

The present administrative arrangements, particularly with Putrajaya being a federal agency as opposed to Selangor state and the third-tier local government apparatus is not capable of delivering the overview and management of high order urban services required to manage the anticipated growth. This would be a missed opportunity for the country’s most significant contributor to GDP in this development corridor and unfortunately, Putrajaya seems like an “island” being somewhat disconnected from the larger physical, socio-cultural and economic environments from where it is located.

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A PLACE OF REFUGE

Firdaus & Associates Property Professionals assistant manager Salina Mohamad Ehsan affirms that Putrajaya is ideal for a family staying as this area specifically caters to the needs and demands of families, especially those in the working community of Putrajaya who desire affordable, as well as premium modern homes. To meet these expectations, the city incorporated a well-planned pathway for recreational activities that promotes a healthy lifestyle amid greenery settings.

Compared to the last 10 years, due to its growing population of 83,300, the city is rapidly turning into a mature township, especially in the northeast, with OIO City Mall and the upcoming Shaftsbury Avenue.

LIFESTYLE, HEALTH & EDUCATIONAL FACILITIES

IOI City Mall is a sprawling shopping, lifestyle and entertainment hub in Persiaran Lebuh IRC. The four-storey building was launched on Nov 10, 2014, measuring at 130,064sq ft, comprising 350 local and international retail outlets, an indoor ice-skating rink and a theme park. Surrounded by lush greenery and shaded walking paths, the shopping centre also has colourful water fountains and presents a beautiful sunset view. It was carefully designed as a commercial property to cater to those who sought a good address for their retail business, as well as food and beverage outlets.

Apart from retails and entertainment, Putrajaya Hospital is also one of the important amenities in the area. Located in Precinct 9, the hospital is easily accessible from Maju Expressway (MEX), North-South Expressway (PLUS), Kajang Dispersal Link Expressway (SILK) and Putrajaya-Cyberjaya Expressway. The hospital serves the neighbourhoods of Precinct 1 until 20, among other neighbouring areas.

There is also Heriot Watt University, Malaysia’s first green campus located in Precinct 5 which opened its doors on Feb 12, last year. The ‘green campus’ is remarkable for having the first living grass roof of its kind in Malaysia. At 300m long and 30m wide, it is the most recognisably sustainable feature of the campus. The roof shades the naturally ventilated spaces below and acts as an observation deck, accessible by glass lift.

Other environmentally friendly features include solar lighting, a rainwater harvesting system and optimised air-conditioning and thermal control systems. This new campus sits on 4.8 acres in a stunning lakeside location providing exceptional educational facilities in an excellent environment, close to the Putrajaya Marina and its modern leisure and sports facilities. Currently, it has 297 undergraduates, 121 postgraduates and 41 academic staff members with six schools and one institution, which covers the whole spectrum of learning from the Arts, Sciences and Humanities.

PROPERTY DEVELOPMENTS

Newly completed Tamara Residence is one of the mid-range pricing project in Putrajaya. Located in Precint 8, it is a high rise, condominium built around the Putrajaya Lake. The area is surrounded by lush landscaped greenery and was completed in March under the development of Setia Putrajaya Homes. It has four blocks and units come with a built-up of about 1,205sq ft and the price ranges between RM480,888 and RM572,088, depending on a multitude of factors including but not limited to floor position and lake view. All units feature three bedrooms and two bathrooms.

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The exclusive condominium has a low population density, with only six units per floor and each unit is also a corner unit. The properties come partially furnished by the developer; each unit contains two air-conditioning units and kitchen cabinets. All unit purchases also come with two   parking spaces.

There are plans to include 24-hour security within the premises of Tamara. Putrajaya police headquarters and Hospital Putrajaya are less than 500m away and the nearest shopping complex is Alamanda Putrajaya.

Tamara is accessible via the Maju Expressway (MEX), North-South Expressway (PLUS) and Kajang Dispersal Link Expressway (SILK). Precint 8 is a strategic location as it is near to Precint 2 and 3 — the central hub of the government.

Surrounding the development of Tamara is Ayer@8, which was launched in the Q4 2013. This commercial development surrounds the lake and provides magnificent views. In the future, there would possibly be many amenities all within comfortable walking distance from Tamara. With a low buy-in price and a lot of potential for appreciation, it is a good place to buy for capital investment purposes.

Master developer Putrajaya Holdings is responsible for translating the vision of Putrajaya into reality. It was incorporated in 1995 with the initial responsibility of designing and developing the comprehensive, highly strategic 20-year Putrajaya Masterplan. Today, with more than 20 signature development projects comprising office buildings, commercial hubs and residential, Putrajaya Holdings is a maestro in the property market working alongside renowned names in the construction industry.

Another developer in Putrajaya is Putra Perdana Development (PPD), a wholly-owned subsidiary of Putrajaya Perdana Berhad, situated in Precinct 16. Its business encompasses property development, project management and construction, and eventually the sales of properties where required since its inception in 1979.

Currently, it has built and handed over more than 1,000 units of residential properties in Precinct 16, ranging from apartments to townhouses, super-link houses, semi-detached and bungalows. Danau Suria is their latest high end project, comprising two and a half storey bungalows totalling 12 units and two storey bungalows totalling 11 units with a total of 22 units on a freehold land size between 3,932sq ft and 8,854sq ft. Launched on March 26, the price range for the units are between RM3.5 million and RM4.9 million.

On the commercial front, PPD developed and built multiple award-winning green building such as the Diamond Building for Energy Commission, which has been accredited with latinum GBI and Platinum Green Mark certifications.

PUTRAJAYA IN THE FUTURE

“The one dilemma that Putrajaya will have to face in the future is, the issue on the speed of execution in the township. The problem will arise on the fact that the buildings will age, physically and in terms of design. As there is little cohesion in the design styles between buildings as one finds in old world administrative centres, Putrajaya will eventually appear to be a product of its time or era. As such, there will be a need to unify the street environment, possibly by trees and landscaping, that will give Putrajaya a sense of place as opposed to a series of ‘dated’ buildings in space,” said Jefri.

Putrajaya can be the next coming choices and major draw for buyers since it has more comprehensive infrastructure and facilities and not to forget the MRT extension line that leads to Kuala Lumpur.

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