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Headline The changing face of Kepong MediaTitle The Edge Date 06 Jun 2016 Color Full Color Section City & Country Circulation 23,635 Page No CC1,CC4,CC5 Readership 70,905 Language English ArticleSize 1897 cm² Journalist HANNAH RAFEE AdValue RM 22,308 Frequency Weekly PR Value RM 66,924 The changing B Y HANNAH RAFEE face of Kepong Property experts believe that the area — one of Kuala Lumpur's oldest suburbs ­ will attract younger residents and investors with the new infrastructure projects and more modern developments that have come up in recent years. What can potential buyers look forward to? See Hannah Rafee's story on Page 4.Hannah Rafee': Improved connectivity to spur developments With a predominant­ of playgrounds. Desa ParkCity by Perdana ParkCity Sdn ly Chinese popula­ Although Kepong has a number Bhd, Bandar Sri Damansara by Sri Da­ tion, Kepong is home of modern, contemporary develop­ mansara Sdn Bhd, Metro Prima by Mag­ to many traditional ments, it still has a reputation as one na Prima Bhd, Plaza Menjalara by UOA shops, heritage shops of the more old­fashioned spots in the Group, Fortune Perdana by Asian Pac and family­style res­ Klang Valley. Established in 1860s, the Floldings Bhd and Laman Rimbunan taurants. During weekends,city dwell­ area around the former tin mine has by Rimbunan Melati Sdn Bhd. ers head for Kepong to enjoy the local seen much growth as developments Brem Mall, Tesco and AEON are delicacies, such as the famous Mee were built and property values soared the go­to­places for shopping and The Kepong, and seafood dishes. over the years. Waterfront in Desa ParkCity offers en­ The suburb is also known for its The older townships in Kepong in­ tertainment. There are also the Crys­ greenery, as well as a variety of rec­ clude Bandar Menjalara, Taman Sri tal Crown Hotel, several mosques, reational spots. The Forest Research Bintang, Desa Aman Puri, Desa Jaya, Chinese temples and churches.There Institute of Malaysia's Canopy Walk JinjangUtara.Jinjang Selatan, Kepong are a number of schools in the area, offers hiking in the treetops while Baru, Kepong BaruTambahan, Taman such as The International School @ Taman Rekreasi (Lake Gardens) Ban­ Bukit Maluri,Taman Bulcit Desa,Taman ParkCity, Sekolah Menengah Kebang­ dar Manjalara and Bulcit Sri Bintang Daya, Taman Ehsan, Taman Fadason, saan Kepong and Sekolah Menengah have scenic views to enjoy. The 223­ Taman Indah Perdana, Taman Kemaca­ Kebangsaan Sinar Bintang. acre Kepong Metropolitan Park offers haya and Taman Kepong. Kepong straddles Kuala Lumpur running and cycling tracks and plenty More recent developments include Headline The changing face of Kepong MediaTitle The Edge Date 06 Jun 2016 Color Full Color Section City & Country Circulation 23,635 Page No CC1,CC4,CC5 Readership 70,905 Language English ArticleSize 1897 cm² Journalist HANNAH RAFEE AdValue RM 22,308 Frequency Weekly PR Value RM 66,924 and Selangor. LandServe s Chen says,' The pro­ more affordable, attracting greater de­ "Kepong is located on the fringe of posed Sungai Buloh­Serdang­Pu­ mand from a larger pool of homebuy­ Kuala Lumpur and is roughly bound­ trajaya MRT2 line will also have ers and investors.The market needs a ed by Jalan Kuching, Jalan Ipoh and stations in Kepong and its surround­ stronger push before the prices of such Selayang to the east, Sungai Buloh to ings. We expect this to further boost landed homes will go up as rapidly as the north, Bukit Lanjan to tire west and demand for landed and non­landed in the past." Segambut to the south. Part of Kepong homes in Kepong. According to data from VPC and is located in Kuala Lumpur and part of "Other than Jalan Kuching and Jabatan Penilaian Dan Perkhidmatan it is in Selangor," says Tang Chee Meng, Jalan Ipoh, which connect Kepong Harta, from 2011 to 2015, one­ and chief operating officer of Henry Butcher directly to the city centre, the area is two­storey landed homes in Taman (Malaysia) Sdn Bhd. also served by the Middle Ring Road Sri Kepong Baru have recorded the The suburb's reputation has been (MRR2), the Duta­Ulu Klang Express­ highest price appreciation of 84.2% somewhat marred by its image of way (DUKE),Lebuhraya Damansara­Pu­ from 2011 to 2015, followed by houses being an "old" neighbourhood. "Ke­ chong (LDP), Jalan Kuala Selangor and in Jalan Antoi in Kepong Baru (79.3%), pong is one of the earliest townships the North­South Expressway.There are Bandar Manjalara (66%) and Taman in Kuala Lumpur's history. In the early also two KTM stations in the suburb Megah Kepong (48.9%). The lowest years, it comprised mainly village­type — Kepong and Kepong Sentral on the growth rate of 29.8% was recorded dwellings, traditional shops,godowns KTM Komuter Rawang­Seremban route. at Taman Bukit Maluri.The yields of and factories, with the populace engag­ "Its strategic location on the north­ these landed homes range from 2.1% ing in numerous trades and businesses ern fringe of Kuala Lumpur, which is to 4.1%. and manufacturing activities," says served by a network of modern high­ Among non­landed homes, For­ Chen King Hoaw, managing director ways and roads, has been the key driv­ tune Court saw the highest growth of LandServe Sdn Bhd. er for the suburb's growth in recent of 109.8%, followed by Casa Magna "Kepong is now a mature locality. decades." (87.1%), Vista Mutiara (86.7%), Fortune It is generally regarded as an older, Avenue (84.0%) and Casa Prima (76.6%). predominantly Chinese neighbour­ A growing community The yields range from 3.4% to 4.3%. hood and its image is not as sexy as, "The best­selling property types say, Mont'Kiara or even Petaling Jaya. "Prices of [landed] residential projects in Kepong are one­ and two­storey This is why some developers tried to continue to increase steadily while terraced houses and high­rise apart­ disassociate their projects from Kepong rents have more or less stayed flat. ments," Wong says. with their names and built a different For instance, prices of houses inAreca "As families residing in Kepong image for their products, for example Residence have increased sharply from are more traditional, the preferred RM1.8 million in 2011 to RM3.05 mil­ Bandar Sri Damansara and Desa Park­ residential property type is landed City," says Henry Butcher's Tang. lion this year.That represents a 69.4% properties. However, due to the lack "A few sizeable developments came increase. However, rental yields are of new supply of landed residences, up in Kepong in the early 2000s, such low, averaging 2%," Chen says. house buyers in Kepong settle for high­ as Metro Prima, an 86­acre mixed­use "Yields are low because such prop­ rise condominiums and apartments. The most popular type would be the development by Magna Prima, Taman erties [in Kepong] cannot command medium­cost condominiums priced Fadason by Fadason Holdings Sdn Bhd much higher rents than those of con­ around RM500 psf or less," says Tang. and Fortune Perdana. Subsequent to dominiums in the same locality.Unlike other areas that are popular among ex­ "As Kepong is easily accessible to these more sizeable developments,new Kuala Lumpur and Petaling Jaya via var­ launches in Kepong were mainly pocket patriates, these properties do not fetch ious highways and has mature ameni­ developments comprising condomin­ high rents. Locals will not pay high ties, the target market is mostly people iums, apartments and shophouses." rents for such properties in Kepong. who work in Kuala Lumpur, Petaling Despite the current weak market "On the other hand, prices of units in First Residence condo have in­ Jaya and Shah Alam," VPC's Wong says. sentiment, demand for properties creased by 23.1% over the same period According to the Population Cen­ in Kepong remains consistent. "In sus 2010 published by the Department Kepong, the demand is still good for from RM520,000 in 2011 to RM640,000 this year.Their yields are higher, at 5%, of Statistics, Kepong — which covers landed properties. However, it is im­ Jinjang and Kampung Kepong — has portant to note that new supply is than landed homes in Kepong. Such condominiums cater for low­ to me­ a population of 14,155. Most of the res­ limited. Demand for strata residential dium­income households. There is idents in Kepong are Chinese. properties, on the other hand, is still demand among Malaysians for such "The target market for landed good for those priced below RM500 psf homes in Kepong is mainly families but slower for those priced at RM700 properties as the rents are more af­ fordable. Given their lower prices, such who have either been living or work­ psf and above," says Tang. ing in Kepong or its surroundings. Its "Since the announcement of the rents offer higher yields." condominiums and apartments cater alignment of the MRT2 line, with four VPC's Wong says,"Price appreciation for terraced homes in Kepong is not as more for young families and singles," stations in Kepong (Kepong Sentral, Chen says. Metro Prima, Jinjang and Sri Delima), high as that of high­rise residential prices for all types of properties in developments." "One of the catalysts for the growth the area (or near the stations) have Chen says the prices of terraced of Kepong would be well­planned increased," says James Wong, man­ homes, especially the older ones, have townships with better infrastructure. aging director of VPC Alliance (Ma­ sort of peaked in today's market. "High­ This would certainly boost prices and laysia) Sdn Bhd. rise residential developments are much values in the area, such as Desa Park­ Headline The changing face of Kepong MediaTitle The Edge Date 06 Jun 2016 Color Full Color Section City & Country Circulation 23,635 Page No CC1,CC4,CC5 Readership 70,905 Language English ArticleSize 1897 cm² Journalist HANNAH RAFEE AdValue RM 22,308 Frequency Weekly PR Value RM 66,924 City and Sierramas," Wong says.

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