MARCH 2018

by Henry Butcher

KLANG VALLEY RETAIL SUPPLY IN 2017 PLUS All Eyes on New Launches Value Map Series:

KDN PP18893/11/2015(034373) Antara 2017 vs 2016 USJ ( Part 2) MARCH 2018

by Henry Butcher Malaysia

Publisher Henry Butcher Malaysia Sdn Bhd 25, Jalan Yap Ah Shak, O Jalan Dang Wangi, NOW OPEN FOR 50300 . REGISTRATION T• (03) 2694 2212 E• [email protected] W• www.henrybutcher.com.my • Sky Garden On Each Editor’s Note OUR SERVICES Floor Valuation Tel :603-26942212 Fax: 603-26943484 • High Ceiling With Loft Email: [email protected] TALKING SHOP Project Marketing • 3-Tier Security Tel: 603-26942212 Fax: 603-26925771 Oversupply of retail space in Malaysia has So how does that translate to our Malay- Email: [email protected] been one of the hottest topics for the last 6 sian context? • Semi Furnished Real Estate Agency months. Tel: 603-26942212 Fax: 603-26941261 Consumers are still visiting shopping malls • Lake View Email: [email protected] Some professionals even predict closures – large malls in particular, especially Market Research & Development Consultancy of many shopping malls in Malaysia within during weekends. • Government Staff Tel: 603-42702072 Fax: 603-42702082 the next few years. is is especially so Email: [email protected] when we read many reports of few Visiting shopping centres remains a Incentives Retail Consultancy hundred shopping centres closing down in lifestyle of Malaysian consumers, especial- Tel: 603-91305550 Fax: 603-91304003 United States. And we hear that a few ly during the weekends. It is a family • Easy Entry Package Email: [email protected] thousand retail stores shutting down in outing, a friends' gathering place, a movie this highly-developed nation. day, a relaxation spot with free air-condi- *Terms and conditions apply. Facilities & Asset Management Tel: 603-62053330 Fax: 603-62062543 tioning, an exciting place to see nice Email: [email protected] However, this concern is unwarranted. things, and a one-stop centre for grocery shopping, fashion buying, dining and Plant & Machinery Consultancy Tel: 603-26942212 Fax: 603-26943484 Firstly, online retail sales is not replacing entertainment. erefore, shopping trac Email: [email protected] shopping malls. ere are many reasons to major shopping centres in Valley *FREEHOLD* for the closure of shopping centres in is not expected to decline. Auctions & Tender Sales Tel: 603-26942212 Fax: 603-26941292 United States. Online retail is just one of Email: [email protected] the many reasons. All in all, though challenging, the retail STARTING PRICE AT RM316,000 market is poised for growth, barring any Art Consultancy Next, we should look at the numbers, there drastic developments. Tel: 603-26913089 Fax: 603-26021523 Email: [email protected] are 108,000 shopping centres in United States. Let’s say 200 of them closed down - OUR OFFICES this represents only 0.18% of the total | SELANGOR | Subang Jaya • Ampang • Mont’ Kiara | number of shopping centres. Aside from Tan Hai Hsin NEGERI SEMBILAN | | KEDAH| Alor Managing Director Setar • Kulim | PENANG| Island • Butterworth • Seberang large shopping complexes, there are 3.2 Henry Butcher Retail Perai | JOHOR | Johor Bahru • Kluang • Muar • Pontian | PAHANG | Kuantan | MALACCA | Melaka | million brick-and-mortar retail shops in TERENGGANU | Kuala Terengganu | PERAK | Ipoh United States. Even if 1,000 of them closed | KELANTAN | Kota Bahru | SABAH | Kota Kinabalu • Sandakan • Tawau | SARAWAK | Kuching • Miri down, this represents 0.03% of total supply.

PAST EDITIONS Shopping centres with low occupancy rates may attract non-retail operators to occupy 2017 its retail space. Non-retail operators may include oce, hotel, government depart- ment, medical centre, community centre, etc. Failed shopping centres can also be torn down and re-built into other types of real estate developments (mixed-use development, oce, hotel, government Jan 2017 Feb 2017 Mar 2017 Apr 2017 department, hospital, etc.). ey may have some retail shops at the ground oor.

CALL US NOW May 2017 Jun 2017 Jul 2017 Aug 2017 Faridzul +6016 3085 825

Muhaimin +6017 4610 067 Sept 2017 Oct 2017 Nov 2017 Dec 2017 Printed by: 25 Jalan Yap Ah Shak, 50300 Kuala Lumpur, Malaysia. Percetakan CL Wong Sdn Bhd Marketing Agent: Email: [email protected] AS-84, Jalan Hang Tuah 4, Tel no. +603-2693 8380 / 81 | Fax no. +603-2602 1842 Taman Salak Selatan, MARCH 2018 57100 Cheras, Kuala Lumpur. 3 / HERALD New Openings in 2017

There were altogether 8 new shopping centres that opened in 2017:

Table 2: New shopping centres opened in 2017

Net Lettable Occupancy Name Location Area (sf) Anchor Tenant Rate (%)*

MyTown Cheras 1,100,000 Parkson 90

KL Gateway Mall 350,000 Jaya Grocer 85

Melawati Mall Melawati 620,000 Village Grocer/ GSC 90

Empire City Mall Damansara 1,800,000 Parkson/ Ice Skating Ring 25

Eight Kinrara 70,000 Anytime Fitness 60

KIP Mall 250,000 Econsave/ Mr DIY 80

Centrus Mall 200,000 None 5

Amerin Mall 155,000 SKM Mkt/ Amerin Cineplex **NA

TOTAL 4,545,000

Source : Henry Butcher Retail * - occupancy rates were estimated based on observation studies carried out before 15 December 2017 ** - Amerin Mall was opened on 15 December 2017.

Major Challenges Retail Trends in 2017

Even though operation costs were higher in 2017, For 2017, the rapid rise of e-commerce proved to be shopping centre owners were unable to increase a worthy challenger and threat to brick-and-mortar their rental rates any higher as compared to 2016. retailers in . Foreign and Malaysian In order to remain competitive, these owners either online retailers enjoyed a fruitful year with several had to maintain, or in some cases, offer monetary major shopping events including #MyCyberSale, incentives (including lower rental, longer rent-free Double 11 Single Day and Double 12 Celebration. period, subsidised renovation costs, etc.) to keep For the first time, #MyCyberSale was jointly existing tenants, or attract reputable tenants to organised by Malaysian Digital Economy Corpora- open outlets in their premises. tion (MDEC) and National ICT Association of KLANG VALLEY Malaysia (Pikom). This 5-day event also broke a That being said, the rising cost of living and current record for participation by 1,000 online merchants. economic conditions are the most important and significant challenges faced by retailers. This On a positive note, the proliferation of cashless and resulted in drops in average occupancy rate and mobile payment systems (Alipay, Samsung Pay, average rental rate, as businesses weren’t able to Visa Paywave) is another trend to look out for. With RETAIL SUPPLY sustain themselves under the current conditions. smartphones becoming widespread in the popula- Even the prominent shopping centres in Klang tion, and more retailers offering these payment Valley were not spared from this. options in-store, expect to see these systems being accepted by Malaysians in the short term. Klang Valley has also been facing an oversupply in IN 2017 Melawati Mall. Photo credit: thestarproperty.my the retail segment for the last 8 years, albeit location-specific - prominent in areas like Kuala Challenges ahead, but poised for growth Lumpur city centre, , Damansara, Cheras, etc, but not apparent in areas like Klang, Bangi, , , etc. Table 1: Retail Supply in Klang Valley, 2017 In a recent published report by Bank Negara of 2017 proved to a slow year for Klang Valley’s No. of Total Nett Floor Average Rental Rate Average Malaysia, there is a glut of retail space in Malaysia. (including Selangor, Putrajaya and Kuala Lumpur) No. Location Malls # Area (sq ft) Occupancy In response to this report, the government stopped (RM psf pm)* Rate (%) retail sector, an effect from the current economic all new applications to build shopping centres. slowdown. Despite the abundance in retail space, However, in December 2017, the Malaysian govern- The average occupancy rate of these shopping 1 Kuala Lumpur 112 33,538,465 12.29 79.6 ment decided to relax this ruling. No detailed centres dropped for the second consecutive year, guidelines have been published to-date, but this will from 79.9% in 2016 to 78.3%. The specific 2 Selangor 147 38,838,806 9.16 77.0 affect upcoming developments in the near future. breakdown for each area can be found in Table 1. 3 Putrajaya 3 1,957,573 3.72 82.0

TOTAL 262 74,334,844 8.97 78.3

# - includes hypermarket malls and arcades MyTown, located in Cheras. Photo credit: Eileen Siaw * - excludes rental rates of anchor tenants such as supermarket, department store, cineplex, bowling alley, etc. Source : Henry Butcher Retail/ 2H2017 Property Market Report, NAPIC

4 / HERALD MARCH 2018 5 / HERALD MARCH 2018 New Players

Despite challenges, many overseas retailers continue to choose Klang Valley shopping centres to open their first outlets in Malaysia. They include at least 43 brands (in Klang Valley shopping centres only) from 15 countries: ALL EYES ON ANTARA Antara Residences, the upcoming serviced Table 4: New foreign retailer entrants residences by Nadi Cergas Development Sdn Bhd has been getting a fair bit of attention lately, No. Country of Origin Brand Name Trade being positioned as one of Putrajaya’s most aordable property oering. Catering to 1 Australia Pie Face F&B government servants looking for an upgrade, 2 Spetta F&B Antara melds aordability with ample space for residents, with unit sizes starting from 583 sq  3 King Living Furniture Off-White from Italy. to 1,006 sq . 4 China HLA Fashion In March, Nadi Cergas Development organised 5 JiuQiu Bookstore two events to draw the interest of keen investors. 6 Denmark Jack & Jones Fashion e rst half of March saw Nadi Cergas holding its own Chinese New Year celebrations, 7 Vero Moda Fashion complete with lion dance and Chinese drum 8 Dubai Juiceco F&B troupe touring the showrooms. 9 France Sergent Major Fashion Meanwhile, the second half of March saw an event that caters to the younger ones. A petting 10 Marche Movenpick F&B zoo was held in the area, letting children 11 Louis Quotorze Fashion e energetic lion lets loose. interact with various domestic creatures - a rst time hands-on experience for many of them. 12 Laduree F&B 13 Hong Kong Honolulu Cafe F&B Nadi Cergas has more in store, with more events in Antara that will denitely pique your curiosi- 14 Italy Off-White Fashion ty. Stay tuned! KOI from Singapore. 15 Japan Pokemon Cafe F&B 16 Owndays Lab Optical NOW OPEN FOR REGISTRATION

17 Mitsuyado Seimen F&B For more information please contact: 18 Yamazaki Bakery F&B Faridzul +6016 3085 825 Muhaimin +6017 4610 067 19 Jalan Jalan Japan Discount store 20 Singapore Koi F&B underous drum pounds resonate throughout the gallery. A representative from Nadi Cergas Development Sdn Bhd, anked by two lions. 21 Hillstreet Coffee Shop F&B 22 The Dark Gallery F&B 23 Tender Fresh F&B 24 South Africa Galito's F&B 25 South Korea Shinmapo F&B LC Waikiki from Turkey. 26 Kiss the Tiramisu F&B 27 Juicy F&B Outlook for 2018 28 Softree F&B Retail Group Malaysia forecasts Malaysia retail industry growth rate in 2018 to be at 6.0%. 29 Isaac Toast F&B • 1.32 acres, freehold, serviced apartments 30 Yoogane F&B There are three key factors that will affect retail sales in 2018: • 29 levels, 458 units; Max 20 units per level 31 Taiwan City Milk F&B (3 wings; 6-8 units/wing) • General Election before middle of this year. This • 3-tier security: Guardhouse main entrance, 32 Sunny Cha F&B will stimulate economic activity and boost consum- Children get a hands-on experience with various creatures. li lobby and li access card 33 Fruit Ninja at Dochi F&B ers' confidence level. • 675 carpark bays • Ringgit against US$ returning to 2014 levels 34 DaYung F&B before the end of next year. • Strong and sustainable economic data in China FACILITIES 35 Dream Colour F&B and United States for next year. • Sky garden on every oor 36 Thailand Xugar F&B • Lap pool & wading pool Similar to many new shopping centres having • Picnic pavilion 37 Cafeayan F&B opened during the last 2 years, shopping centres • Dining lounge targeted to open in 2018 will face challenges to fill 38 Tearoi • Gym F&B up most of their retail lots upon their openings. To • Surau 39 Turkey LC Waikiki Fashion attract tenants, they will need to lower their rental rates in order to lure them. • Playground & tness corner 40 United States WingStop F&B • 2 Function rooms • Relax lounge & cocoon pavilion 41 Rebecca Minkoff Fashion • Herb and perfume gardens 42 Wayback Burger F&B Expected completion: 2021 43 TR Fire Grill F&B

Source : Retail Group Malaysia e young ones also had a chance to ride a pony. Even the not-so-young ones joined the fun. 6 / HERALD MARCH 2018 7 / HERALD MARCH 2018 The year 2017 witnessed an increase in the 2017 as well as units of between 1,001 and Based on our data, Rawang marks the N number of new launches in Selangor 1,500 sq ft. It was nevertheless interesting location of the most aordable new strata compared to 2016. Despite softer market to note that there was an increase in the developments in Selangor with a price conditions, property developers in the state number of projects with large units of range of RM180 to RM220 per sq ft. Mean- Landed switched focus to strata developments with above 3,500 sq ft. This may be due to the while, the most aordable new landed RM300 smaller sized units and embarked on more increase in the number of semi-detached developments can be found in Kuala Selan- - projects in an attempt to make up in sales and bungalow projects launched in 2017. gor (RM200 to RM450 per sq ft). Other RM400 PROJECT1 psf turnover - there were 88 new launches in areas of opportunities for landed properties SELANGORDevelopers launch more projects in 2017 2017, compared to 79 the year before. Price-wise, it is observed that there was an include Putrajaya (RM300 to RM500 per sq increase in the number of projects with unit ft) Serendah (RM300 to RM400 per sq ft), by Henry Butcher Research Landed RAWANG Although landed developments continue to priced above RM 1 million. This again could Klang (RM300 to RM600 per sq ft), Puncak RM300 Landed form the majority of new projects launched be due to the increase in the number of Alam (RM300 to RM 400 per sq ft) and - RM400 in 2017, with 57 projects out of a total of 88 semi-detached and bungalow projects (RM300 to RM600 per sq ft). RM850 - projects launched, they now form or 65% of launched in 2017. Nevertheless, buyers PROJECTS7 psf 2016 2017 RM700 total projects launched compared to 70% looking for value for money properties can Meanwhile, aordable high-rises are High-rise PROJECTS3 psf the year before. In addition, in terms of still find such opportunities in Selangor, located in (RM200 to RM300 RM300 High-rise - RM180 number of units, whereas 2016 saw the total with 3 (approximately 4%) having units per sq ft), Semenyih (RM300 to RM350 per % 5% RM500 units almost evenly split between strata and priced below RM500 per sq ft and 46 of the sq ft), Sungai Buloh (RM300 to RM500 per 0 3 - 3 psf RM220 High-rise landed projects (11,813 strata; 10,528 new projects in 2017 (approximately 34%) sq ft), (RM350 to RM600 RM400 psf landed), 2017 saw a heavier focus on strata priced between RM501 to RM750 per sq ft. per sq ft), Kajang (RM400 to RM600 per sq BKT JELUTONG - units (16,289 over 9,380 landed units). Going up a tier, there were 45 projects ft), Selayang (RM400 to RM500 per sq ft) 79 Landed RM500 PROJECTS 88 PROJECTS Landed SUBANG PROJECT1 psf oering units priced between RM751 to and Cheras (RM400 to RM500 per sq ft). Landed % RM200 RM550 % 5 Landed CHERAS Terrace and super link projects contributed RM1,000 per sq ft, compared to 28 projects 70 6 RM300 - - - RM450 RM800 RM600 AMPANG Landed to the most number of new projects in 2016. There are 20 projects in 2017 Developments that are priced at the higher PROJECTS PROJECT1 psf - RM400 2 psf RM350 launched (32 in 2017; 34 in 2016), followed oering units priced at the higher tiers - 14 end of the spectrum are located in well-es- Strata Strata PROJECT1 psf RM800 High-rise PROJECT1 psf RM550 - by serviced apartments and residences (10 projects oering units priced at RM1,001 tablished and well-connected areas - Ara Landed Landed RM500 - in 2016; 15 in 2017), and semi-detached and RM1,500 per sq ft; and 6 projects with Damansara (1 strata project, RM900 to PROJECTS2 psf Landed PETALING JAYA RM700 developments (11 in 2016; 7 in 2017). Never- units exceeding RM1,500 per sq ft. RM1,000 per sq ft), Subang Jaya (2 strata 5 PROJECTS2 psf High-rise 3 6 RM300 % 3 High-rise RM400 theless, 2017 saw a slight drop in the projects, RM900 to 1,200 per sq ft), Bandar % - RM1000 - number of terrace/link house projects Out of 88 new projects in 2017, 57 projects Sunway (2 high-rise projects, RM900 to RM800 - RM500 PROJECTS6 psf whilst there were an increase in the number had units with prices exceeding RM1 million, 1,300 per sq ft) and Petaling Jaya (1 22,341 25,669 RM1200 psf High-rise of apartment, condominium, serviced followed by 36 projects priced between high-rise project, RM1,000 to RM1,200 per UNITS 3 UNITS PROJECT1 psf Landed 7 apartment projects as well as semi-de- RM601,000 and RM800,000, and 34 sq ft). 4 % RM700 RM250 7 ARA D’SARA % - - tached and bungalow projects. projects between RM801,000 to RM1 RM800 High-rise RM600 million. There were 10 projects that had 2017 proved itself to be an active year for SUBANG JAYA psf PROJECTS4 psf RM900 March, August, September and November units priced below RM400,000. developers, going on the oensive with High-rise - High-rise Strata Strata SEMENYIH 2017 were the active months of the period, more launches. Seeing as various infrastruc- RM900 RM1000 RM550 Landed Landed PROJECT1 psf - Landed November being the most active with 16 In terms of geographic distribution, several ture developments are currently underway - RM750 RM300 launches. This contrasts with 2016, where locations in Selangor had multiple project (such as the KVMRT and LRT3 rail projects), RM1200 PUTRA HEIGHTS - PROJECTS2 psf psf significant activity was registered in May (12 launches - notable areas include , we can expect to see a better-connected Landed RM600 RM500 PROJECTS5 psf launches). For both years, launch activity Semenyih, Sungai Buloh and Klang, Selangor, and this could lead to more - High-rise picked up during the second halves of each registering a high number of launches projects coming onstream to capitalise on RM750 SETIA ALAM SRI KEMBANGAN RM300 year - H2 2016 saw a steady stream, while across 2016 and 2017. 2017 saw the return of the improved accessibility to previously less PROJECTS2 psf High-rise - H2 2017 saw more vibrant activity. activity to long-standing areas like Subang popular areas. Landed KLANG High-rise High-rise KAJANG RM350 Jaya and Bandar Sunway as well. All in all, RM300 Landed RM200 RM900 RM550 Landed psf - RM300 - - - RM450 In terms of unit sizes, we note there was a 2017 had a more diverse range, with launch- RM600 - RM300 RM1300 RM800 - slight increase in the number of projects es spread out in various locales. PROJECTS PROJECTS2 psf PROJECTS psf 5 psf 3 RM6 00 psf RM700 with unit sizes of less than 1,000 sq ft in High-rise PROJECTS5 psf PROJECTS3 psf RM750 High-rise KOTA KEMUNING High-rise - RM700 Landed RM400 RM850 - BDR SAUJANA - psf RM350 PUTRAJAYA Unit Sizes Pricing Price Per RM800 - PUTRA RM600 by Projects* $ by Projects* Square Feet* psf High-rise psf Landed RM900 RM300 PROJECTS6 psf RM500 CYBERJAYA - - < 1,000sf High-rise Landed RM600 RM500 < RM400,000 < RM500 RM350 PROJECTS RM350 PROJECTS3 psf 2 psf - - 18% 19% Total Launches by Month High-rise 8% 6% RM650 RM850 RM500 4% 3% psf PROJECTS3 psf 2 - Jan RM550 1,001sf - 1,500sf RM401,000 - RM600,000 3 psf RM501 - RM750 4 Feb 14% 15% SEPANG 4 18% 16% 52% 40% 7 Types of Projects Launched Landed Mar RM300 1,501sf - 2,000sf 13 - 34 RM500 RM601,000 - RM800,000 7 Terrace / Superlink 17% 13% Apr 32 PROJECTS4 psf RM751 - RM1,000 8 High-rise 14 12 Serviced Residence / Serviced Apartment RM500 2,001sf - 2,500sf May 16 - 22% 30% 40% 7 RM750 26% 3 14 psf Jun Semi-D 23% 20% 3 15 RM1,001 - RM1,500 RM801,000 - RM1,000,000 9 4 Jul Bungalow 2,501sf - 3,000sf 5 7 8% 12% 8 22% 21% Aug 3 10 Condominium 13% 10% 6 Above RM1,500 Sept 8 4 Apartment / Flat Above RM1,000,000 8 3,001sf - 3,500sf 5 8 6% 5% Oct 10 3 Soho / Sofo / Sovo / Soso 7% 9% 4 26% 35% 8 Nov Above 3,500sf 16 1 Townhouse 3 Dec 3 8% 14% 1 2 Cluster 0 launched. * Based projects number of on total 8 / HERALD MARCH 2018 9 / HERALD MARCH 2018 Major Challenges Retail Trends in 2017

Even though operation costs were higher in 2017, For 2017, the rapid rise of e-commerce proved to be shopping centre owners were unable to increase a worthy challenger and threat to brick-and-mortar their rental rates any higher as compared to 2016. retailers in Klang Valley. Foreign and Malaysian In order to remain competitive, these owners either online retailers enjoyed a fruitful year with several had to maintain, or in some cases, offer monetary major shopping events including #MyCyberSale, incentives (including lower rental, longer rent-free Double 11 Single Day and Double 12 Celebration. period, subsidised renovation costs, etc.) to keep For the first time, #MyCyberSale was jointly existing tenants, or attract reputable tenants to organised by Malaysian Digital Economy Corpora- open outlets in their premises. tion (MDEC) and National ICT Association of Malaysia (Pikom). This 5-day event also broke a That being said, the rising cost of living and current record for participation by 1,000 online merchants. economic conditions are the most important and significant challenges faced by retailers. This On a positive note, the proliferation of cashless and resulted in drops in average occupancy rate and mobile payment systems (Alipay, Samsung Pay, average rental rate, as businesses weren’t able to Visa Paywave) is another trend to look out for. With sustain themselves under the current conditions. smartphones becoming widespread in the popula- Even the prominent shopping centres in Klang tion, and more retailers offering these payment Valley were not spared from this. options in-store, expect to see these systems being accepted by Malaysians in the short term. Klang Valley has also been facing an oversupply in the retail segment for the last 8 years, albeit location-specific - prominent in areas like Kuala Lumpur city centre, Petaling Jaya, Damansara, Cheras, etc, but not apparent in areas like Klang, Bangi, Kajang, Kepong, etc.

In a recent published report by Bank Negara of Malaysia, there is a glut of retail space in Malaysia. In response to this report, the government stopped all new applications to build shopping centres. However, in December 2017, the Malaysian govern- ment decided to relax this ruling. No detailed guidelines have been published to-date, but this will affect upcoming developments in the near future.

The fifth largest city/town in the country Most of the high rise residential projects Impian COMPLETED (Built-Up SF) by population and a major township in in USJ were completed in the 1990’s (16 Meridian Selangor, the Municipality of Subang of 32), with another 10 completed in the Minimum Maximum Jaya which comprises the original 2000’s. The newer ones like USJ One The Duo Casa Subang Jaya township as well as its Park, Da Men Residences, Main Place 657 Subang Angsana Flat - extension, UEP Subang Jaya (commonly Residences and The Regina were Arcadia Apartment 983 1,087 referred to as USJ), parts of Bandar completed in the 2010’s, Da Men Da;Men You One Sunway and Putra Heights has grown Residences is the most recent comple- Casa Subang 678 1,066 and evolved from a rubber plantation tion (2016). Unit sizes vary significantly, known as Seafield Estate into a vibrant starting at 418 sq ft (Main Residences) Goodyear USJ Da;men Residences 719 723 Court 1 One Park and popular self-contained township in and going up to 3,056 sq ft (You One). Fairville Apartment 850 936 the state. Units exceeding 1,000 sq ft are in ample supply in the area. Goodyear Court 1 850 872 Goodyear The In the first part of our focus on Subang Court 2 Regina Goodyear Court 2 657 850 Jaya carried in last month’s Herald, we Most residential properties in the USJ Sri Nipah Indera looked at the northern side of Subang area remain aordable and within reach. Subang Goodyear Court 3 915 936 Jaya covering SS12 to SS19. In this Based on our data, the main price brack- second part of our focus, we shift our et for USJ is between RM201 and RM600 Goodyear Court 4 657 - *Permai attention to the UEP Subang Jaya town- per sq ft, as most developments have Goodyear Goodyear Court 5 753 936 ship, more commonly known as “USJ”. units which fall within that price range. In Sri Kayan Court 4 Mostly developed by Sime UEP Proper- particular, the Goodyear Court brand (1 Goodyear Goodyear Court 6 657 1,001 ties Bhd., USJ comprises 27 sections, USJ through 10) oer aordable serviced Court 3 Goodyear USJ One Goodyear Court 7 743 786 1 to USJ 27, USJ 3A-3D, USJ Heights and residences in the area. Sri Nipah and Court 5 Avenue Subang Heights. Angsana, both priced below RM200 per Goodyear Court 8 767 1,012 sq ft, oer lower cost options, while Meranti USJ is home to several industrial parks, recently completed projects like You Sri Bayu Goodyear Court 9 689 1,012 Goodyear The Edge including Ultramine, Sungai Penaga One, Main Place, USJ One Park and Da Goodyear Court 7 Goodyear Court 10 834 1,066 Industrial Park, Subang Industrial Park Men occupy the higher end of the pricing Court 6 Angsana Jati and Sime UEP Industrial Park. Several spectrum, reaching a higher limit of 1 & 2 Impian Meridien 955 1,302 national and multinational corporations RM800 per sq ft. Arcadia Goodyear have established their headquarters in Court 8 Indera Subang 1,485 2,497 Goodyear the area, including our national carmaker There are three projects currently under- Court 9 Jati 1 & 2 Apartment 861 936 PROTON, with its Centre of Excellence way in USJ viz.: Reo Suites (370 to 609 headquarters, Lotus Cars and Faber sq ft with it’s completion due by 2020), Main Place Residences 418 942 Castell, the world renowned maker of The Duo (668 to 993 sq ft with comple- Sri Tanjung Meranti Apartment 721 829 writing instruments tion by 2018) and The Edge Residences (647 to 1,008 sq ft; completion by 2018). Goodyear *Permai Apartment 755 870 USJ’s commercial activity is mainly All three projects are priced between Court 10 Rhythm Avenue 624 1,668 centred in two areas, viz., USJ 10 (popu- RM601 and RM800 per sq ft. larly referred to as Taipan) and USJ 9. Sri Bayu Condominium 1,356 - The former is the central business hub of The slow creep of higher-priced, Starville the township, and a popular spot where better-equipped developments in USJ is Sri Kayan Flat 689 - people frequent for food, shopping, a sign of evolution, that the area is under- Rhythm Sri Nipah Flat 700 797 banking and other support services. going a wave of revitalisation and Tropica Avenue There are also quite a number of shop- modernisation to meet the needs of its Paradise Sri Tanjung Apartment 645 650 ping malls located in the township, the more auent urban residents. The

Starville Apartment 840 850 three most prominent and oldest being recent expansion of public transit The Summit (adjoined to The Summit infrastructure, which connects USJ to the Main The Regina 1,044 1,259 Place Hotel), Giant and (hypermarkets rest of Kuala Lumpur, accelerates the LEGEND within vicinity of The Summit). Newer process as well. This is appealing for Reo Suites Tropica Paradise 1,163 1,356 malls include Da Men, The Main Place and those working in the area but are Under Construction Completed USJ One Avenue 1,062 1,345 One City at USJ 25, which is an integrat- currently residing in areas like Klang and ed commercial development comprising Shah Alam, as the improved public trans- 650 Price (PSF) USJ One Park Condominium 1,242 retail and oce units, sohos and a hotel,. portation options oer a convenient Fairville You One (USJ One) 650 3,056 means of commuting to and from work. Below 200 201- 400 401 - 600 601 - 800 Above 800 Subang Jaya enjoys excellent infrastruc- We can expect to see more oerings in ture and connectivity and is amply linked the future catering to younger and more to Kuala Lumpur, Shah Alam and Petaling auent urbanites, and with more ameni- UNDER CONSTRUCTION (Built-Up SF) * = Asking price Jaya via a network of expressways as ties built to meet their needs and wants well as rail transit ie. KTM Komuter as and lifestyles. Minimum Maximum well as the (Putra), LRT line. QUICK STATS Major highways that serve and link the Reo Suites 370 609 township include the Federal Highway, Built-Up (SF) Price (RM PSF) The Duo 668 993 (KESAS), NKVE, Maximum 3,056 800 NPE, North South Expressway and LDP. Minimum 370 152 The Edge Residences 647 1,008 The Sultan Abdul Aziz Shah Airport Median 871 440 (colloquially known as “Subang Airport”), now repurposed to lean towards corporate and private aviation is also located closeby.

The recent expansion of RapidKL’s Kelana Jaya LRT line have benefitted USJ residents, with four stations strewn throughout the township These four stations are USJ 7, Taipan, Wawasan, and USJ 21. These stations are just a few (Subang Jaya Part 2) stops away from the Putra Heights termi- nus (which is also an interchange to RapidKL’s Ampang line) and the Subang A wave of evolution. Jaya station (which is an interchange to USJBy Henry Butcher Research and Valuation KTM’s Pelabuhan Klang Komuter line, and which also serves as a bus hub at the same time). 10 / HERALD MARCH 2018 11 / HERALD MARCH 2018