Puchong: Thriving Investment Opportunities
( from iproperty Magazine FEB 2016 issue )
Puchong has seen rapid developments since it’s heyday as a tin-mining town in
the 1980s, thanks to its central location and good road network.
– BY REENA KAUR BHATT
Things are bound to get more exciting for Puchong in 2016.
This year will see the completion of six additional LRT stations running through the major town, bringing the total to eight.
The existing Alam Sutera and BK5 LRT station will soon see their sister stations; Puchong Jaya, Pusat Bandar Puchong, Taman Perindustrian Puchong, Bandar Puteri, Puchong Perdana and Puchong Prima – all which would cater to Puchong’s population of 400,000.
Echoing the excitement in Puchong, Stanley Toh, Executive Director of LaurelCap Sdn Bhd says that the township has seen tremendous developments over the past 10 years.
In 2005, Puchong was still mainly a suburban residential enclave and was limited from Puchong Jaya, up to the Bandar Bukit Puchong toll plaza (Puchong South Toll). It has now extended beyond that as Puchong South reaches areas like Cyberjaya and Putrajaya.
These new areas include Taman Lestari Perdana, LamanGranview, Taman Saujana Puchong, Bandar Bukit Puchong, Taman Lestari Putra, Bandar Putra Permai, Taman Equine, D’ Alpinia, Taman Mutiara Indah, The Atmosphere and O2 City Puchong.
Sarkunan Subramaniam, Managing Director of Knight Frank Malaysia describes Puchong as one of the fastest growing areas in the Klang Valley and it is home to established townships such as Pusat Bandar Puchong, Bandar Puchong Jaya, Bandar Puteri Jaya and Bandar Bukit Puchong.
“It was voted as the top property hotspot for H1 2013 in the property industry survey conducted by the Real Estate and Housing Developers’ Association (REHDA) in H2 2012,” he adds.
In terms of facilities and amenities, Sarkunan says that Puchong has it all – shopping centres and hypermarkets such as Tesco Extra Puchong, Giant Bandar Puteri Mall and Aeon Big Puchong Utama; educational institutions comprising 24 primary schools, 13 secondary schools, 3 colleges/university colleges and 1 international school as well as commercial centres including IOI Boulevard, IOI Business Park and Setia Walk.
“Puchong also has various affordable housing products, both landed and stratified that caters to the low, low-medium and medium-upper income population,” he says.
( image from iproperty magazine page 45, Feb 2016 issue )
RISING CAPITAL APPRECIATION
Stanley Toh, Executive Director of LaurelCap Sdn Bhd says over the past 10 years, Puchong has seen the entry of serviced condominiums, SoHos and hotels. “The scarcity of developable land as well as the burgeoning population, have led to significant increases in land value. Developers are now moving towards higher density projects and commercial developments”.
As an example, he cited the Four Points Hotel by Sheraton was recently opened while MTree Hotel will begin operations end of this year and Hilton Garden Inn is currently under construction.
Raine & Horne International Sdn Bhd’s 2016 property market outlook report highlights Puchong as one of the nine areas to watch out for this year. New residential projects include D’Island Residences by LBS Bina Group Bhd and IOI Rio City by IOI Properties Sdn Bhd.
James Tan, Associate Director of Raine & Horne clarifies that the current LDP interchange will be upgraded to free flow interchange without traffic light to make way to seamless flow to and from LDP. The access roads in Bandar Puteri Puchong will be widened to a 3-lane carriageway both ways. Besides that, upcoming developments in Puchong include the Serdang-Kinrara-Putrajaya (SKIP) Expressway.
The proposed expressway is about 17.5km and it is demarcated into 2 sections, where the first section will pass through selected townships and housing areas including Taman Kinrara 5, Kinrara Golf Course, Taman Damai Utama, Kinrara Residence, Taman Puncak Jalil, Taman Desminium and Taman Lestari Perdana. The second section, on the other hand, will pass by areas such as Taman Lestari Perdana, Taman Puncak Jalil, Taman Universiti Indah, Pusat Perdaganan Seri Kembangan and Taman Serdang Jaya. Sarkunan notes that with the improved accessibility, Puchong is expected to attract more investors and homebuyers with its well-occupied townships
Overall, the outlook for Puchong’s property market is optimistic as the demand for housing and commercial products remains strong. Also, as noted by Sarkunan, there is the potential upside in prices supported by the on-going and upcoming infrastructure projects which would further enhance Puchong’s connectivity and accessibility in the short to medium term.
Source: iProperty.com magazine FEB 2016