BIG DREAMS FOR RAWANG
Local developer bets big on an up-and-coming area with affordable resort living development
Hype Park City Sdn Bhd, a subsidiary of DA Land Sdn Bhd, has high faith in Rawang. “Da”, which in Mandarin means big, shows that Hype Park City and DA Land keep a big dream and heart for the area. Since the launch of LakeClub Parkhome in December 2012, the dream has finally come true.
DA Land Sdn Bhd or formerly known as Golden Masterpiece Sdn Bhd was incorporated on 11 February 2011, and Hype Park City Sdn Bhd is established to develop residential properties. According to DA Land director, Sip Mun Yee, “I think Hype Park will have more residential development in the future. But under the DA Land group, Hype Park is the arm that we create to build more residential development. DA Land will concentrate more on commercial properties, for the time being. But Hype Park is not just for LakeClub Parkhome. I think it’s more on long term residential.”
The developer has some 40.46ha of land banks that are located in Kuala Lumpur, mostly in Rawang. The focus of their development plans is in Rawang, given the potential of the area. The other small parcels of land are in Kota Damansara and downtown Kuala Lumpur.
Hype Park City upcoming project is the Phase Four of the LakeClub Parkhome. The development consists of 13 acres of the land and is adjacent to the original development of LakeClub Parkhome, and will be developed by Hype Park City alone. On the other hand, the other 63 acres of Phase One to Phase Three is a joint venture between DA Land and Mahumas Sdn Bhd.
What makes LakeClub Parkhome unique? Sip tells Property Insight that it is all about the name itself. “The name itself tells you straight that there’s a lake, there’s a club, there’s a park, and the home is within it. Imagine, how do you visualize your home is within a lake, club, and park?” He said.
The 222 units of two- and two-and-a-half storey terraced homes are priced from RM280 to RM290 psf, of which the Phase One has been totally sold out. Currently, Hype Park City is registering interest from buyers for Phase Two and has already built show units. Phase two is about to launch early in 2015, while Phase Three is scheduled to be launched in the fourth quarter of 2015.
At under RM300 per square feet, the project packs more comfortable living than comparable RM1 million homes. “If you ask, why have houses become so expensive? Expectation. That is a demand and supply, it’s a circle. In those old days, we just want a shelter to live under, something that feels safe. That’s your expectation, just a roof above your head. But today, the expectation is different. That expectation has caused a small revolution in the development industry in Malaysia.”
Yet, given the integrated lifestyle resort concept of ParkClub Lakehome, the selling prices of the units are remarkably quite affordable. “Because our built-up is big, if we price it at RM400 psf, I think our so-called villas will cost beyond RM1.5 million. And that’s beyond affordability! So we are lucky enough to be able to joint venture with Mahumas, who is the original land owner. In other words, we have the advantage of lower land cost. With that, we actually have advantages in term of our pricing. So that’s why we feel that this is really a good concept and a good buy,” Sip explained.
Excluding Phase Four, LakeClub Parkhome has a gross development value (GDV) of about RM500 million and expected to be fully completed in 2017. As for Phase Four, there are no solid plans yet. However, Hype Park City is planning something that is different from the original development. Sip said that “We might consider something very interesting to add in to this residential area. We haven’t gotten the operating license, but we actually planning to put an international school and incorporate with it maybe some stratified units like condominium and apartment.” This is because Sip thinks that in the future, landed properties will be increasingly unaffordable
Hype Park City is proposing international school because “it will complement the whole township of Rawang, not just LakeClub Parkhome but rather to bring the whole Rawang town, even all the way extent to the Sungai Buaya, Serendah, and all the way up to Batang Kali.”
Furthermore, there are already two developments of international schools that have been approved in the newer side of Rawang. Hence, Hype Park City wants to be the first and only developer that builds international school in LakeClub Park Home neighbourhood. Sip personally thinks that international school will be a demand in the few years to come because of the current policy of international school that is not only available to expatriates. Conjointly, the locals can also sign up to international school as they wish, according to Sip.
DA Land is well-known for their landed properties in Rawang. In Sip’s opinion, the demand in Rawang properties is still the gated-guarded concept. Thus, the property buyers in Rawang have started to expect something that is different from what is being offered nowadays. Buyers who are willing to travel for an extra of 15 minutes to their homes in Rawang because they want something better. Hence, the idea of LakeClub Parkhome was born.
It is designed to be different. The idea was to create something that reverts the typical and conventional type of terraced houses in Malaysia. Sip explains, “A typical terrace you walk in, you’ll see the living room, then followed with the dining, follow with the kitchen at the back. That’s typical, conventional. What we do is we revert, a reverse of it. Our living room is way at the end of the layout of the house, and that’s actually facing the linear park.”
The park is the key component of LakeClub Parkhome, according to Sip. “When you walk out from your linear park, just next to your living room, you can actually walk through it and link to central park. The linear park is a linear of 30 ft to 80 ft park between two rows of houses, but when you walk to the end of it, most of it actually connected to the central park,” he said.
Another offering that makes Hype Park City and its project different is that they have engaged security specialist GDSS Systems Sdn Bhd since Day One of their project development planning. “GDSS Systems also advises the top-notch commercial properties in Malaysia, like KLCC, The Curve, and Bangsar Shopping Center,” Sip said and the security consultants specialise on how to design residential homes in order to prevent or set some deterrents to avoid intruders, by thinking and designing the security measures based on the criminal mind-set.
“It is the sense of security that I want to give to my LakeClub Parkhome residents in the future,” said Sip. The security measures are not planned when the development is done, but instead was incorporated while the development is being planned, according to Sip, which further demonstrates that LakeClub Parkhome is indeed a well-designed and well-planned residential concept.
In addition, all LakeClub Parkhome buyers will have to sign a perpetual deed of mutual covenant, which requires them to get approval from the township’s management before they can carry out exterior renovations.
This is to ensure that the development preserve its overall look, Sip said, because the developers want to “maintain the uniformity” in hope that residents will retain the feeling of respect for the open environment and for each other.
The design of LakeClub Parkhome also “encourages neighborhood interaction,” added Sip. “This is already a safe environment, and we designed it with a linear park. The car porch is also very open. We don’t do a big fence higher than your height. We do a very low fence; practically you can just jump over the wall so there’ll be more interaction among neighbours.” When asked about the target market of the LakeClub Parkhome, Sip said that he would foresee more on upgraders who wish to find a more comfortable and relaxed living environment without breaking their savings.
In few years to come, Sip believed that Rawang will rise as one of the successful new city development in Malaysia. He explained, “I would say Rawang will become one of the largest guarded landed property environments in Klang Valley. Right now if you think of Klang Valley, it has to go either north or south. And Rawang, not just us, there are many big developers already getting into development in this region. So, as you can see, there are a lot of these good potential and very respectable sort of developments that will come out in five to 10 years come. The key right is that there are many first tier developers are working on this region at the same time. So if you ask me, how do I feel 5 to 10 years of Rawang? Exciting. If people today still don’t see it, you’re probably too late”.
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