(File pix) The TWO is a multibillion-ringgit integrated commercial development in Rawang. Pix from PropSocial website
Bandar Baru Selayang is giving Selayang a new facelift with contemporary lifestyle offerings — a break away from conventional housing areas, said PropertyGuru Malaysia country manager Sheldon Fernandez.
He said some noteworthy developments that are changing the landscape of Selayang include Loh & Loh Corp Bhd’s Idaman Hills, JL99 Group’s LakePark Residence Selayang, Leadmont Group’s Selayang Star City.
Fernandez said ample natural attractions such as the Forest Research Institute Malaysia and matured amenities like Hospital Selayang have helped push up the value of properties in the area as shown by the PropertyGuru Market Index (PMI) which recorded year-on-year growth (second quarter (Q2) 2017 to third quarter (Q3) 2018) of 11.1 percent.
The PMI also showed a quarter-on-quarter appreciation, rising 6.8 per cent from Q2 to Q3 2018 — indicating progressive growth.
A recently-completed infrastructure has started to help the township gain foothold and momentum. Since the opening of Guthrie Corridor Expressway (GEC), the 25km expressway connects Bukit Jelutong in Shah Alam to Kuang, near Rawang, and complements the North South Expressway and New Klang Valley Expressway.
A real estate consultant said recently that the development in Selayang would be much faster than in Rawang because of the connectivity.
The consultant said Rawang is just another suburb and housing there would be fuelled by local demand.
He said it would be tougher for Rawang to capture the spillover from Kuala Lumpur, adding that properties in Selayang, which links to north Kuala Lumpur, would command better pricing.
Fernandez, however, said Rawang, which is also located in the Gombak district, is still booming with housing areas, such as Bandar Country Homes, Bandar Tasik Puteri, Emerald West and Anggun Rawang.
“When first conceptualised, housing offerings here attracted many first-time buyers or middle-income earners.
“Today, it is famous among upgraders who are looking for bigger homes. New upscale gated-and-guarded neighbourhoods have also emerged in recent years, with guard houses and perimeter-fencing for added security and privacy tailored for upgraders or those looking for affordable lifestyle living,” he said.
CONNECTIVITY IMPROVES LIVING CONDITIONS
Fernandez said connectivity is not much of an issue when it comes to Rawang as infrastructure there has been upgraded with the completion of the GEC, Kuala Lumpur-Kuala Selangor expressway (Latar) and the Rawang-Serendah bypass.
He said amenities are ample and conducive as Rawang is receiving an additional commercial and retail upgrade via The TWO, the largest mall in Malaysia.
DA Land Sdn Bhd launched The TWO, a multi billion-ringgit integrated commercial development in Rawang in 2015.
The TWO is the acronym for “Theme park resort, Wholesale city, Outlet mall”. It is being developed on a 20.6ha site at an estimated gross development value of RM5 billion.
There are no latest updates on the progress of The TWO.
In 2014, DA Land signed a memorandum of understanding with themed-attraction specialist Sanderson Group to assist in the design of the theme park element of the development.
The company’s flagship project in Rawang is Lake Club Parkhome, spread over 25.5ha nestled in a central park and linear back gardens.
“Rawang is currently self-sustaining with many convenience offerings. Therefore, property seekers looking for affordable properties will benefit from the inexpensive pricing in Rawang, knowing it’s growth potential,” said Fernandez.
According to the PMI, the index rose 2.3 per cent year-on-year (Q3 2017 to Q3 2018).
However, there was a 1.5 percent reduction quarter-on-quarter, indicating that sellers were lowering prices, making the properties more appealing for buyers who don’t mind the traveling.
For instance, a listing on PropertyGuru.com.my shows a two-storey terrace house with 65ft by 70ft size and built-ups of 1,885sq ft is priced at RM470,000. The unit comes with three bedrooms and two bathrooms and will cost a monthly repayment of RM1,928 for the next 30 years, he said.
Additionally, a three-storey property in an exclusive gated-and-guarded development with 24ft by 80ft land size and built-ups of 1,540 sq ft is priced at RM850,000. The unit comes with six bedrooms and five bathrooms and will cost a monthly repayment of RM3,486 over the next 30 years, said Fernandez.
Developers such as Mah Sing Group Bhd is marking its foothold in Rawang with various residential offerings, including M Aruna.
Other developers include Guocoland (M) Bhd, Glomac Bhd, Hong Bee Land Sdn Bhd, Low Yat Group, MK Land Holdings Bhd and Sime Darby Bhd.
“Selayang and Rawang properties are still relatively untapped but are experiencing more exciting changes and progress going forward,” added Sheldon.
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