Headline The changing face of 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 '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 , 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. 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 ,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." 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 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 .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 . "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. "Kepong is a fairly mature area and The Henge — a RumaWIP and Most of the buyers are owner­oc­ that is already quite well developed, condominium by Sinerjuta Sdn Bhd cupiers. "The newer condominiums although there are still opportuni­ and VIM3 Menjalara — a small office, are designed to cater for small,young ties in the form of small pockets of home office by VST Development Sdn families and first­time homeowners. land available for development.The Bhd. RumaWIP was first introduced in Although they are also investors, we locality is popular with house buy­ 2013 to enable city folic, especially those believe most buyers are those buy­ ers, especially the Chinese in the residing in Kuala Lumpur, Putrajaya ing for their own occupation," says area. In the future, it will be served and Labuan, to purchase homes at af­ Chen. "However, as Kepong is set to by the MRT2 line.This will enhance fordable prices. benefit from the proposed Sg Bu­ the livability of the area and attract "Investors and owner­occupiers loh­Serdang­Putrajaya MRT line, we more interest, which could then lead looking to purchase and rent in Kepong foresee there will be more investors must take note of the locations of the to higher property values and rents," in the future." proposed MRT2 stations and how the Tang says. "We are seeing more launches of "Price appreciation in Kepong has line's alignment is going to affect the condominiums in Kepong, with more not been dramatic, unlike other areas properties there.As for those who wish modern designs and a range of facilities like Mont'Kiara,but it has shown sta­ to purchase or rent a non­landed home, to cater for the younger generation of ble growth. Prices and rents are still such as a condominium or apartment, residents, who are now grown up and affordable. We foresee further capital the quality of maintenance and man­ in the market to buy their own homes. appreciation once the MRT2 line is in agement is another factor to take into They often have higher expectations, operation and when people begin to account to ensure the sustainability of especially those who are in a position see Kepong in a different light with the their investment," Chen says. to upgrade from their previous homes," completion of the newer, more mod­ "Despite the current poor market says Henry Butcher's Tang. ern developments," Tang says, adding conditions, lack of confidence, tight­ that Kepong is not a market for spec­ ening credit facilities and various gov­ A good long­term investment ulators. It is more for owner­occupiers ernment measures to curb speculation, Wong says living in Kepong has its and long­term investors. the Kepong market is expected to re­ perks. "Residents have easy access to Chen sees a positive outlook for main optimistic in terms of values, the LDP, New Klang Valley Express­ Kepong. He believes the suburb will driven by the scarcity of land in Kuala way, MRR2 and Jalan Kuching.And benefit tremendously from develop­ Lumpur, affordable pricing and im­ there are also plenty of ready amen­ ments in Kuala Lumpur, particularly proving infrastructure such as the four ities and infrastructure as well as the MRT2 line."We also expect prices MRT2 stations," Wong shares. "Gener­ the proposed stations along the new of landed and non­landed homes in ally, with more new affordable hous­ MRT2 line. But the cons include nar­ Kepong to increase, in view of the lim­ ing that will be launched in Kepong, row roads, old housing areas and hap­ ited parcels of land that are available and the affordable prices of high­rise hazard development." for development," Chen says. and landed residential properties, we He adds that one of the key chal­ Upcoming residential projects in suggest buyers purchase for their own lenges in Kepong is that most devel­ Kepong include Kepong 5 @ North stay due to affordability." opments are not gated and guarded. According to Wong, property prices Tang believes people still see Kepong Kiara in Jalan Lang Emas — a condo­ minium by QO Properties Sdn Bhd, in Kepong are relatively low, especially as an "old" neighbourhood. "Kepong compared with high­rise developments needs an image change to attract the Enesta @ Jalan Kepong — condomin­ ium and RumaWIP (Federal Territory in other parts of Kuala Lumpur. "There younger house buyers who are more is an opportunity for investors to buy brand, status and location conscious. Affordable Housing Policy) by Amona Land Sdn Bhd, Residensi Kepongmas for capital appreciation." B 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

Tesco, one of the go­to­places for shopping in Kepong

Transacted prices of existing terraced houses

NAME OF PROJECT STOREY LAND AREA TRANSACTED TRANSACTED YIELDS GROWTH (SQFT) PRICES IN 2011 PRICES IN 2015 (%) RATE (RM) (RM) (%) Jalan Antoi, Kepong Baru 1 1,604 343,000 615,000 3.1 79.3 Taman Megah Kepong 2 1,400 638,000 950,000 4.0 48.9 Taman Bukit Maluri 2 1,700 655,000 850,000 2.4 29.8 Bandar Menjalara 2 1,647 565,000 938,000 2.1 66.0 Taman Sri Kepong Baru 2 592 190,000 350,000 4.1 84,2 Transacted prices of existing high­rise residential developments

NAME OF PROJECT FLOOR TRANSACTED TRANSACTED YIELDS GROWTH AREA PRICES IN 2011 PRICES IN 2015 (%) RATE (%) (SQFT) (RM) (RM) Casa Prima 1,150 235,000 415,000 3.7 76.6 Casa Magna 936 210,000 393,000 3.4 87.1 Fortune Court 915 123,000 258,000 4.3 109.8

Fortune Avenue 1,137 250,000 460,000 3.9 84.0 Vista Mutiara 1,001 225,000 420,000 3.7 86.7 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

Established in the 1860s, Kepong has seen much growth. Property values have soared over the years

Chen: The proposed Sungai Buloh­ Serdang­Putrajaya MRT2 line will also have stations in Kepong. We expect this to further boost demand for landed and non­landed homes in Kepong 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

Wong: The target market in Kepong is mostly people who work in Kuala Lumpur, Petaling Java and Shah Alam

Tang: New launches in Kepong were mainly pocket developments comprising condominiums, apartments and shophouses 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