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Kundang Properties — Average Similar to Rawang

Kundang Properties — Average Similar to Rawang

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FRIDAY, MAY 31, 2019 . ISSUE 2899/2019 . PP19055/06/2016(034530) PRINT + DIGITAL

EP EP EP 04 04 05 available NEWS NEWS ASK THE online + offline EXPERTS CBRE: Missed our past issues? E-commerce- DATUM:KL 2019 Click/tap here backed retail to attract more The value and to visit our thrives in than 2,000 function of digital archive! China, participants sinking funds www.EdgeProp.my Up-and-coming

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KUNDANGTis town in was never known as a property hot spot, but it could be in future. Discover more on Pages 6 and 7.

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NEWS HIGHLIGHTS from www.EdgeProp.my

Paramount plans overseas ventures First tower of Sunway Avila 80% taken up Paramount Corp Bhd is currently in talks with potential partners for The first tower of Sunway Property’s its venture into overseas property integrated and freehold Sunway markets within the next five years. Avila development in Wangsa Maju, Paramount Group chief execu- has been 80% taken tive officer Jeffrey Chew told up during a private sales event for reporters after the group’s annual priority registrants on Saturday general meeting on Monday that May 25, said the developer in a press his team is currently studying the release on Wednesday. residential property markets in Located 6.5km from KL City Thailand, Vietnam, Australia and Centre, the RM590 million devel- the Philippines, and aims to pursue opment comprises 810 serviced one or two of these markets under residences and 30 retail shops. It its five-year plan starting 2020. will be connected to the nearby Sri The Edge Property Sdn Bhd “We do see the Malaysian prop- Rampai LRT station via a covered (1091814-P) erty market in the major urban walkway. Level 3, Menara KLK, No. 1 Jalan PJU 7/6, Mutiara centres getting fairly mature. So The residential units are priced “It is also good for the younger development division central Damansara, 47810 , the next step is to look at potential- from RM439,000 (early bird pro- second-generation families who region executive director Chong Selangor, ly going out of the country… I think motion) with built-up sizes from want to stay close to their families Sau Min (pic) at the priority sales we are ready to go,” he said. 732 sq ft to 1,227 sq ft. The mainte- living around the area. event. EdgeProp.my nance fee will be RM0.30 psf. “The price for Sunway Avila is “We believe that the over- “Sunway Avila comes with affordable for its strategic location whelming response for Sunway Managing Director/Editor-in-chief functional and practical layouts and its proximity to the Sri Rampai Avila is attributed to the prod- Au Foong Yee HRC World to invest for families and is great for peo- LRT station which places the de- uct which is located at the right EDITORIAL in Encore Melaka ple who work in KL City Centre as velopment six stations away from place, and is at the right price,” Executive Editor Sharon Kam Nasdaq-listed HRC World Plc will Assistant Editor Tan Ai Leng they can commute via LRT. KLCC,” said Sunway Bhd property added Chong. Deputy Chief Copy Editor become a strategic investor in James Chong property developer Yong Tai Bhd’s Copy Editor Vanessa Gnanasurian Senior Writer Encore Melaka theatre with the operate Encore Melaka theatre as EPF, in a statement on May 28, Rachel Chew proposed acquisition of a significant HRC World manages well-known said the purchase of the logistics Get BREAKING Writers stake in the developer’s subsidiary. music-centric themed food and property in Shirebrook had fol- PROPERTY Natalie Khoo, Shawn Ng, According to a statement by Yong beverage cafes across China and lowed comprehensive due diligence Chin Wai Lun, Chelsey Poh NEWS Tai on Tuesday, its wholly-owned other parts of Asia that strategical- and robust governance standards Art Director Sharon Khoh delivered to Senior Designer Jun Kit subsidiary PTS Impression Sdn Bhd ly promotes live music and bands,” in line with the fund’s investment Designer Rajita Sivan (PTSI) has entered into a Memoran- said Yong Tai’s chief executive of- policies. you daily via For New Launches/Events/ dum of Understanding (MoU) with ficer Datuk Wira Boo Loon. It said the property, located in WhatsApp! Press Releases/News Tips HRC World’s subsidiary HRC Music the town of Shirebrook in central email: [email protected] TO SUBSCRIBE Tel: (03) 7721 8211 Fax: (03) 7721 8280 Plc over the proposed investment EPF purchases England, will continue to be leased by HRC World in PTSI. to the British sports-goods retailer 1. Add +6018 290 2116 ADVERTISING & MARKETING Sports Direct HQ to your contact Associate Account Director, Pursuant to the MoU, HRC Music on a long-term basis. Advertising & Marketing will subscribe up to a 70% stake in in the UK for £120m “This investment is an oppor- list as EdgeProp Heidee Ahmad (019) 388 1880 PTSI — which is principally engaged The Employees Provident Fund tunity for the EPF to generate an News. Or scan Senior Account Manager this QR code. Ian Leong (012) 359 1668 in the development and operation of (EPF) has confirmed the fund’s pur- assured income stream matching Cecilia Too (012) 319 7666 Encore Melaka theatre — at a sub- chase of Sports Direct International our risk return profile. This deal 2. Send us a WhatsApp with Account Manager scription price to be determined later. Plc headquarters (HQ) in the UK for will complement and form part of "NEWS" and your full Joane Tan (012) 377 2885 Joanne Mok (018) 272 0939 “Yong Tai sees the synergistic £120 million, or about RM636.46 the EPF’s UK real property portfo- name in the message. value from HRC World to jointly million. lio,” it added. Marketing Support & Ad Traffc Madeline Tan (03) 7721 8218 email: [email protected] trending How do I get past issues of this weekly pullout? BUSINESS DEVELOPMENT Manager Nimalen Parimalam Go to www.EdgeProp.my to download for free Account Manager Stannly Tan now Executive Nurfarah Diyana Mohd Firhad

PRODUCT DEVELOPMENT If you have any real estate-related events, email us at [email protected]. & CUSTOMER ADVISORY LAUNCHES + EVENTS Events listed here will also appear on www.EdgeProp.my. Senior Manager Elizabeth Lay Associate Omar Nawawi, Ayesha Hannah Amer Ezani Recent Malaysian the launch, there will be a , Selangor Architecture at The For enquiries and listings performance by award winning Contact: (03) 7499 2552 email: [email protected] National Art Gallery magician Andrew Lee, a Bring the family to celebrate Tel: (03) 7733 9000 Date: May 30 (Thurs) carnival carousel, a trackless the planet at Eco Ardence’s EdgeProp.my pullout is published to July 15 (Mon) train, food trucks, a flower World Environment Day event. by The Edge Property Sdn Bhd. It is Time: 9am to 5pm frame workshop, kite flying From fun workshops for kids to available with The Edge Financial Daily every Friday. The pullout Venue: National Art Gallery, Land’s The Light development and many more activities. aerobics for the adults, there’s is also distributed at more than No. 2, Jalan Temerloh, and enjoy fun activities with your something for everyone. 200 offces, shopping complexes, Titiwangsa, Kuala Lumpur family. You also get the chance Leather crafting condos, medical centres and F&B workshop at Eco Majestic outlets in the Valley. You can Contact: (03) 2202 2866 to find out about the deals and also download it for free at Celebrating Malaysian rewards offered by the developer. Date: June 2 (Sun) www.EdgeProp.my architectural gems of the last Time: 2pm to 4pm decade, the Kuala Lumpur Jovita launch Venue: EcoWorld Gallery @ Te Edge Malaysia Architecture Festival 2019 Date: June 1 (Sat) Eco Majestic, No. 1, Lingkaran organised by the Malaysian Time: 3pm to 8pm Eco Majestic, Eco Majestic, Publisher and Group CEO Institute of Architects is holding Venue: Gamuda Gardens , Selangor Ho Kay Tat an exhibition entitled Recent Experience Gallery, Contact: (018) 908 7225 Minangkabau Raya EDITORIAL Malaysian Architecture at Persiaran Gamuda Gardens, Enjoy a fun time with your Date: June 8 & 9 (Sat & Sun) Editor-in-chief Azam Aris the National Art Gallery. Kuang, Selangor family at Eco Majestic’s leather Time: 3pm to 10pm CORPORATE Chief Operating Offcer Contact: (03) 6037 2888 crafting workshop this Sunday Venue: d’Tempat Country Lim Shiew Yuin A carnival of light and Join at the official and bring home a personalised Club, PT 12653, Jalan Pusat ADVERTISING & MARKETING luxury launch of Jovita homes at leather keychain and cardholder. Dagangan Sendayan 1, Bandar Chief Commercial Offcer June 1 (Sat) Gamuda Gardens. To celebrate Seats are limited. RSVP now! Sri Sendayan, Sharon Teh (012) 313 9056 Date: General Manager Time: 10am to 6pm Contact: (1800) 88 2688, Fong Lai Kuan (012) 386 2831 Venue: The Light Sales Gallery, World Environment Day (06) 792 2688 Senior Sales Managers Suite 01-16-01, Menara at Eco Ardence Join Matrix Concepts Holdings Gregory Thu (012) 376 0614 Lim Sook Chin (012) 205 5986 IJM Land, 1, Lebuh Tunku Date: June 2 (Sun) Bhd at its township Bandar Sri Creative Marketing Kudin 3, Gelugor, Time: 7am to 9am Sendayan to celebrate Hari Raya Chris Wong (016) 687 6577 Contact: (04) 296 1333 Venue: Maya Park at Ardence season with exciting activities Head of Marketing Support & Ad Traffc Celebrate parents’ day at IJM Labs, Persiaran , and traditional performances. Lorraine Chan (03) 7721 8001 FRIDAY MAY 31, 2019 • THEEDGE FINANCIAL DAILY EP 3 EP 4 FRIDAY MAY 31, 2019 • THEEDGE FINANCIAL DAILY NEWS

HONG KONG — Incentive Scheme might help to encourage Pop-up stores gaining interests renovation of older retail properties around CBRE: E-commerce Its ageing population and rising health the Orchard area. awareness are expected to bring up de- mand for healthcare, medical centres and SOUTH KOREA — healthy F&B. Meanwhile, retailers continue Emerging second-tier areas backed retail to favour pop-up stores as a key means to Retail leasing demand in the near future promote brand awareness and gauge con- will remain stable but subdued as huge gaps sumer appetite for new products. still exist between landlords and potential thrives in China, No thanks to sky-high rental fees, retailers tenants over rental expectations at major are keeping a cautious stance on expansions. high streets. Hence, emerging second-tier Demand for large f agship stores is expected districts may become the choice for retailers to diminish further. that cannot af ord high rents. India Expansion may be discouraged by new JAPAN — No harm done yet restrictions on working hours and higher from Chinese shopping agent minimum pay. clampdown BY CHELSEY POH booming e-commerce trends. China’s clampdown on shopping agents AUSTRALIA — T ese are CBRE’s observations of retail has yet to af ect Japan’s retail market. CBRE Downhill for “old-fashioned” PETALING JAYA: Retail leasing markets in trends in various countries: opines that leasing enquiries will likely re- specialty fashion Asia Pacif c have been quiet through the main brisk. Landlords are losing interest in specialty f rst quarter of 2019 and retailers will have CHINA — O2O trend continues However, slowdown in fast fashion is ex- fashion retailers that are deemed “old-fash- to reconsider their operating strategies amid T e online to of ine (O2O) trend is rising, pected to persist, with declining interest in ioned” and “undesirable tenants”. potential economic headwinds that might as online retailers continue to open brick- the opening of new stores. T e weak housing market will likely damp- lead to slower sales, according to real estate and-mortar stores. Some online retailers that en consumer sentiments and subsequently market research f rm CBRE Research in its opened new stores in 1Q2019 are Xiachufang — impact retail leasing. Retailers are also fac- “Asia Pacif c Retail Trends Q1 2019” report (APP), Shejiaoquan (APP) and Vip.com. Restrictions on foreign workers ing stif competition from online shops and released recently. Demand, said CBRE, will likely come might impact F&B new market entrants. Weaker consumption, said CBRE, is ex- from omni-channel supermarkets in the Over the next few quarters, new restrictions New entrants are less willing to set up pected to inhibit leasing activity over the coming quarters. on the hiring of foreign workers are antici- large store networks. As opposed to plan- course of 2019. Retailers are likely to put a Performance of high-quality projects by pated to hurt retailers’ sentiment, particu- ning 20 to 30 sites previously, they are now pause on expansion plans, and focus on en- major developers remained good with high- larly labour intensive businesses, such as looking at f ve to 10 sites. Smaller units have hancing shopping experiences, while shop- er rental income growth recorded. Rental F&B. Meanwhile, the Strategic Development become more desirable. ping centres may undertake renovations or income increased by 14.7% year-on-year in repositioning exercises. 2018, compared to 15.4% in 2017 and 10.2% in “Leasing will be primarily driven by the 2016, according to published annual reports F&B, cosmetics, lifestyle and experiential of major listed shopping centre developers. trades,” says the report. “In contrast, leasing demand from fashion and luxury retailers INDIA — Food aggregators

is expected to remain unexciting, owing to and cloud-kitchens expanding | EPA JEROME FAVRE cautious consumer spending and intense Food aggregators are growing bigger, while competition from e-commerce,” it added. more cloud-kitchens are seen in the coun- A shopping Demand in 1Q2019 was led by cosmet- try. Cloud-kitchen operators are eyeing both district in Hong ics and personal care tenants, which are national and hyperlocal markets. Leading Kong. Retailers increasingly sought after by shopping mall operators favour non-prime spaces in key are keeping a landlords due to their strong sales and ability micro markets. cautious stance to attract high footfall. F&B expansion re- T e report states that India’s leasing de- on expansions mained steady, led by cafes, dessert outlets mand is expected to remain solid despite and demand and casual dining establishments. the country’s general election in May. Lack for large Meanwhile, retail leasing markets in China of availability of prime shopping malls are agship stores and India, the two most populated countries forcing large retailers to make do with smaller is expected to in the world, are receiving ripple ef ects from units or space along high streets. diminish further.

DATUM:KL 2019 to attract more than 2,000 participants JUNE 21–JULY 7

SAM FONG | THE EDGE BY NATALIE KHOO Among them are MINIWIZ CEO T e inaugural DATUM:KL was and founder Arthur Huang, who attended by 380 participants in year PETALING JAYA: T e DATUM:KL has spent over a decade turning 2003 and has grown to over 2,700 2019 is back for its 17th installation JULY 4–6 post-consumer waste into inno- participants from all over the Asian this July and is expected to attract vative products for businesses and region. T is year, DATUM:KL will more than 2,000 participants. and just about any person or par- consumers; Breathe Architecture also incorporate green architecture DATUM:KL is the Malaysian In- ty involved in design, planning, director Jeremy McLeod, whose and interior design works, previ- stitute of Architects’ (PAM) annual construction and property sectors. work focuses on sustainable ur- ously known as DATUM:GREEN international architectural design “A large number of government banisation, in particular deliver- and DATUM+. conference which acts as a plat- agencies, academicians and stu- ing af ordable urban housing in Meanwhile, the annual KLAF form for discourse and showcase dents will also be attending,” KLAF Melbourne; and one of the prin- which began in 2011 is jointly or- of exemplary architectural works 2019 director Dr Tan Loke Mun told cipals and founder of Department ganised by C.I.S Network and PAM. from all over the world. EdgeProp.my. of ARCHITECTURE Co Twitee Va- It was built on the success of the T e conference will run from He added that the KLAF theme jrabhaya, who is known for devel- annual DATUM:KL conference. July 4 to 6 in conjunction with the Tan says DATUM has grown into the this year is TOMORROW and the oping ideas in architecture based ARCHIDEX is a key event under 20th International Architecture, largest international architecture focus will be on architecture and on research into social, cultural KLAF, and in 2019 the architec- Interior Design and Building Ex- and design conference in the region. design in a rapidly changing glob- and physical contexts. tural festival will see inclusive en- hibition, also known as ARCHI- al environment experiencing rap- Since its inception in 2003, Tan gagement with communities from DEX 2019 which will be held at largest international architecture id technological changes and the said DATUM:KL has been growing all over Malaysia and the region, the Kuala Lumpur Convention and design conference in the re- impact of climate change while the steadily with the number of partici- encouraging open participation, Centre. ARCHIDEX is part of the gion with more than 2,000 partic- global population continues to grow. pants increasing at a rapid rate that where the general public and the Kuala Lumpur Architecture Festi- ipants each year. T e topics and Participants can expect a line-up includes not just architects but a architectural and interior designing val (KLAF 2019) which runs from presentations would suit architects, of more than 15 renowned names considerable contingent of devel- community can immerse themselves June 21 to July 7. developers, designers, project and in the architectural world who will opers and students from Malaysia and collaborate in all the experiences “DATUM has grown into the development managers, engineers speak during the three day conference. and neighbouring countries. the festival will encompass. FRIDAY MAY 31, 2019 • THEEDGE FINANCIAL DAILY EP 5 PROPERTY MANAGEMENT — Ask the experts

What is the function of a sinking fund? Is there any What must the guideline on how much a home owner should be charged? management

he Strata Management Act 2013 requires every i. the painting or repainting of any part of the common committee do if it wants parcel owner to contribute to the sinking fund property; to utilise the sinking fund? every month. Sinking fund serves as the reserve ii. the acquisition of any moveable property for use in fund for the management body to maintain relation to the common property; t is a requirement in the SMA Tand manage the common property and buildings. In iii. the renewal or replacement of any fi xture or fi tting that the JMB or MC shall hold subsections 11(4)(c), 24(2) and 51(2), the management comprised in any common property; an annual general meeting for body, which could be the developer, Joint Management iv. the upgrading and refurbishment of the common the consideration of Body (JMB) and Management Corporation (MC), is only property; or Ithe accounts. Therefore, it is allowed to utilise the money in the sinking fund solely v. any other capital expenditure as the joint management prudent for the management for the purpose of meeting the actual or expected body or management corporation deems necessary. committee to table the proposal capital expenditure necessary in respect of for the utilisation of the sinking the following matters: During the developer’s management period, the amount fund during the annual budget of contribution to the sinking fund is fi xed at 10% of the and account presentation in the Charges (a.k.a. maintenance fees) as stated in Subsection annual general meeting. 13(4) of the SMA. During the period managed by the JMB or MC, the amount of contribution to the sinking fund shall not be less than 10% of the Charges. Pursuant to Subsections 25(4) and 61(3) of the SMA, the JMB and MC CHRIS TTAN may fi x the rate of sinking fund at more than 10% of the Managingg parrtner and foundeer Charges provided that such a rate is proposed and passed of Chur AAssocciates; EdgeProp during the JMB’s or MC’s general meeting. Malaysia’s Besst Managed Property SINKING Awards 2019 judge and EdgePProp.my FUND Symposiuum onn Exceellent Propperty Managemment 2019 speaker

If you have any questions regarding property management, please email [email protected]. Disclaimer: The answers are only proposed Scan for solutions by the expert based on the limited Questions will be answered at the discretion of the editor and the respective experts. hassle-free information given in the questions. maintenance EP 6 FRIDAY MAY 31, 2019 • THEEDGE FINANCIAL DAILY COVER STORY

The ongoing development of the Gamuda BY RACHEL CHEW Gardens township in .

ocated north of Kuala Lumpur, Kundang in Selangor was a quiet hilly town that has largely gone unnoticed, until recently. Situated between and Rawang, Kundang has gained more attention Lfollowing the completion of the Kuala Lumpur- Expressway (LATAR). T e area is also accessible via the Guthrie Corridor. One could also say that more people now know Kundang owing to new property developments there. One in particular stands out for its size and lifestyle elements – Gamuda Gardens by Gamuda Land, the property development arm of Gamuda Bhd. The 810-acre township development was launched in 2017 and when completed, it will have residential and commercial properties, a shopping mall and a pet-friendly central park, among others.

To improve its connectivity, the developer in- EdgeProp.my vested in a direct interchange from the LATAR Expressway. T e interchange has been open since March 2017. Gamuda Land tells EdgeProp.my that it will be handing over Precinct 1 of Gamuda Gardens to buyers progressively from 3Q next year. T ere are 562 units in Precinct 1 with built-up sizes of 20ft by 75ft, 22ft by 75ft and 22ft by 80ft. It was priced from RM700,000 onwards. YEN YEING PICTURES BY LOW | “T e residential property market in Kundang has been growing over the last couple of years and we expect property prices to grow in the future. T is is because the housing prices in Kundang are still largely within the af ordable range compared What KUNDANG to nearby areas such as ,” LaurelCap Sdn Bhd executive director Stanley Toh tells EdgeProp.my. He adds that the prices of existing terraced hous- es in Kundang currently range from RM350,000 to offers property RM500,000. According to EdgeProp.my’s data, there were 40 landed homes that changed hands in 2018 at an average transacted price of RM433,196. In com- parison, the average transacted price for landed investors homes in Bukit Rahman Putra, Sungai Buloh in 2018 was RM986,284. for industrial properties and residential properties, Kundang properties — Average similar to Rawang. Rawang used to be an industrial property-driven location but today it is also home transacted price and volume to many people. Moreover, unlike Rawang, most of the industrial players in Kundang are small and Residential Industrial medium size ones. Toh: Housing prices “Looking at similar locations in the , in Kundang are still 500 Transaction price Units Transaction price Units such as Rawang and Shah Alam, or even Subang, SUHAIMI YUSUF | THE EDGE largely within the (RM ‘000) transacted (RM mil) transacted I do not see the industrial-driven location af ect- RM433,196 15 16 affordable range 120 7 ing the residential property market in the area,” compared to nearby 14 Chia opines. areas such as Bukit 104 100 400 6 12 Rahman Putra. Industrial property shines 80 69 10 Commenting on the industrial real estate market 5 8 Hence Toh believes there is much room for 57 in Kundang, Chia reveals that the number of en- 60 7 8 Kundang’s property prices to grow. 47 quiries from buyers and investors have risen over “T e LATAR-Kundang interchange has opened 300 40 4 6 the last few years. 40 up the area and provides easy access to other towns In an industrial land deal concluded by Chia 3 4 within Selangor,” he says. 20 3 2 RM3.5 mil recently, the seller bought the vacant freehold He adds that the residential property market 2 land for below RM20 psf 10 years ago and sold it RM207,351 RM2.7 mil outlook for Kundang is positive although Kundang 200 0 2 0 for RM100 psf earlier this year. is still primarily an industrial-driven location. 2014 ‘15 ‘16 ‘17 ‘18 2014 ‘15 ‘16 ‘17 ‘18 He attributes the value appreciation of indus- “T e overall property market in Kundang has trial real estate in Kundang to a few reasons – im- great potential [to rise] up to a point when prices SOURCE: EdgeProp.my proving accessibility, the short supply of industri- stabilise and are more in line with the more estab- al property in the adjacent areas of Rawang and lished surrounding areas. Kundang — location map Sungai Buloh, as well as the competitive prices “T ere is however, a possible downside. T e that Kundang of ers. Tasik Puteri y a Golf and w attractive industrial property market in Kundang s He explains that Sungai Buloh used to be a s Rainforest Country Club AEON e may limit the development of the residential prop- r J Retreat popular address for industrial property, thanks p al Rawang Anggun x an E R

erty market. Bandar Rawang awa to good highway connectivity. However, the area

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“Indeed, industrial properties seem to be a good KUNDANG S is being transformed into an integrated township

Ku Puteri - R investment option as the entry cost is still relatively ala Lu ATA with more upcoming big scale developments such m h L p t u r cheaper than other areas in the vicinity,” says Toh. r-K o Bukit as by Kwasa Land. uala N Selangor Expressway On the other hand, Desmond Chia, the senior (LATAR) “Sungai Buloh is transforming into a mixed

real estate negotiator from WorldTree Properties Kundang Recreational property township with dif erent property products J y Forest a Lakes Country a l w a N who specialises in Kundang industrial property, n s coming up. T e completion of MRT Line 1 (Sungai Club s K K e u r V

a tells EdgeProp.my that the industrial properties in la p E Buloh station) has also improved the public trans- S x e E Kundang are mostly in dedicated industrial are- la r portation system which has encouraged more new n o go d as in Kundang and they are quite a distance from Puncak r ri Bukit residential developments in Sungai Buloh. or Alam C Rahman residential areas. rie “But as Sungai Buloh’s traf c increases due to th Putra “Kundang is not a small place... there are areas Gu more developments, some industrial property own- FRIDAY MAY 31, 2019 • THEEDGE FINANCIAL DAILY EP 7 COVER STORY

ers are letting go of their facilities (in is of ering something dif erent from Top: XXX Sungai Buloh) to f nd a replacement. what Klang has,” he notes. Most of them will look at Kundang be- According to WorldTree Properties’ Right: XXX cause it is very close to Sungai Buloh, Chia, the asking price for a freehold of ers lower property prices and good industrial property in Kundang is be- connectivity,” Chia notes. tween RM80 and RM100 psf. Over Meanwhile, Zilin Properties found- in Sungai Buloh, industrial property er Z L Teo concurs with Chia that asking prices range from RM120 psf more industrial property owners and to RM150 psf while Rawang’s is slight- investors in Sungai Buloh are seeking ly more than RM100 psf, depending alternative cheaper locations with on location. low traf c. Chia foresees a positive market for “Kundang used to be a not-so-ideal Kundang’s industrial property seg- Chia: Kundang is not location because of poor connectiv- ment in future. a small place... there ity while road conditions were bad. LaurelCap’s Toh concurs that in- are areas for industrial Flash f oods also used to happen dur- dustrial properties here will remain properties and ing heavy downpours but today it is popular. residential properties, dif erent. T e new highway has cut “T e LATAR access also links up to similar to Rawang. short the journey to , the the Guthrie Corridor, which links up main port in Klang Valley. I think the to the NKVE and leads all the way to One of the modern industrial parks in Kundang. place is coming up,” says the indus- Port Klang. T e West Coast Express- trial property specialist. way will be completed soon and is Top: XXX He adds that another advantage of connected to the LATAR Expressway industrial property in Kundang is that at the Jalan Kuala Selangor exit. Right: XXX most have freehold status. “T is will help spur the industrial “Unlike in Klang, Kundang does sector in Kundang in future,” Toh says. not have big manufacturing plants, Teo however believes that industri- most are small to medium factories. al property price growth is limited due | THE EDGEKENNY YAP DESMOND CHIA It of ers more modern industrial parks to Kundang’s limited industrial land. that comprise well-planned, neat and “Looking at the current property tidy semi-detached or detached fac- development trend in Kundang, I be- tories. Hence the target buyers for lieve there will be more residential or the factories here are dif erent,” Teo township projects in future. explains. “Kundang does not have much Teo: Kundang is “Building a plant is a big invest- industrial landbank left, so one day it offering something ment and location is crucial. If you are could be like Sungai Buloh or Rawang different from what running a bigger business, you would and industrial property prices in Klang has. prefer to set your facility closer to the Kundang could be limited to a certain port to save on transport. Kundang price range,” Teo says. The LATAR-Kundang Interchange. EP 8 FRIDAY MAY 31, 2019 • THEEDGE FINANCIAL DAILY

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