#Latest* Perdana ParkCity gains international recognition

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Latest Perdana ParkCity gains international recognition

By Au Foong Yee of theedgeproperty.com
Sunday, 30 May 2010 17:22

From left: Yeow Thit Sang, president of FIABCI Prix d’Excellence
Awards 2010; Yaw, Suharso and Lisa Kurrass, FIABCI World President
2009-10

KUALA LUMPUR: Desa ParkCity, one of Kuala Lumpur’s current hottest real estate developments with the transacted secondary value of its typical intermediate 3-storey terraced homes inching close to RM2 million, has earned international recognition.

It is equally noteworthy that an upcoming launch of 3-storey terraced homes with sprawling built-up of up to 5,400 sq ft at the township will be priced at RM2.9 million.

Developed by Perdana ParkCity, a member of the Samling Strategic Group, the township’s Adiva homes bagged the FIABCI Prix d’Excellence Awards 2010 for the Residential (Low Rise) Category. FIABCI is the acronym for the Paris-based International Real Estate Federation.

Perdana ParkCity chairman Yaw Chee Siew received the award from Indonesia’s Public Housing Minister Suharso Monoarfa at the just-concluded five-day FIABCI 61 World Congress held in Bali.

The 4.5-acre gated-and-guarded freehold strata-titled Adiva comprises Parkhomes (78 units), Courtyard terraces (66) and Courtyard apartments (16). These were launched in July 2003 and completed and handed over in April 2006.

Perdana ParkCity is the only Malaysian winner in this year’s Prix d’Excellence Awards that attracted 54 entries from 11 countries for the 13 categories. Three other Malaysian projects emerged as runners up. They are: Park Seven (SDB Properties of Selangor Dredging Bhd; Residential High Rise Category), Puteri Harbour (UEM Land Holdings; Master Plan Category) and Sooka Sentral (Malaysian Resources Corp Bhd; Special Project Purpose Built Category). EcoLakes, My Phuoc, Vietnam (S P Setia) was the other runner up in the Master Plan Category.

The value of the 2-storey intermediate Adiva Parkhomes, launched in 2003 at RM550,000, has doubled on the secondary market to RM1.1 million recently, while the 3-storey type, also launched in 2003 at RM650,000, have changed hands at a whopping RM1.6 million.

The price surge in Desa ParkCity, a 473-acre township, which is about 53% developed todate and 13km west of Kuala Lumpur City Centre, has become apparent with the launch of its The Waterfront, a neighbourhood retail centre about 1½ years ago. This was followed by the opening of the residents’ clubhouse some nine months ago.

Data obtained from the developer’s office had also revealed that the Parkhomes in its both gated-and-guarded Zenia and Amelia neighbourhoods are doing equally well. Launched in 2005 at RM615,000 to RM650,000, the 2-storey intermediate freehold strata-titled Zenia Parkhomes transacted this year at RM1.4 million while the 3-storey type, originally sold for RM800,000 to RM900,000, are now commanding RM1.6 to RM1.9 million.

It is a no less rousing story at the 2007-launched freehold and individually-titled Amelia. The 2-storey intermediate Parkhomes (originally sold for RM790,000 to RM800,000) changed hands this year at between RM1.2 million and RM1.4 million while the 3-storey type, which sold for RM980,000 to RM1.027 million at launch, had been transacted at between RM1.8 million and RM1.9 million.

Besides a recent chase for landed homes in the Klang Valley, values at Desa ParkCity would have been stoked by an impending launch called Casaman on premium elevated grounds in the township.

Dubbed as signature terraced hillhomes by the developer, the gated-and-guarded strata-titled freehold 147 units of 2- and 3-storey homes on a 21.1-acre plot would have finishes that are superior to the township’s earlier launches, said Perdana ParkCity group chief executive officer Lee Liam Chye.

And the indicative pricing of Casaman? A whopping RM1.7 million onwards for the 2-storey type (39 units; 3,100 sq ft built-up) and between RM2.1 million and RM2.9 million for the 3-storey type (108 units), with built-up options of 3,900 sq ft, 4,300 sq ft and 5,400 sq ft. It is interesting to note that about 3,000 people had registered their interest in the project. The priority launch for registrants is June 26, to be followed by an official launch a week later.

Meanwhile, on June 5, the developer will hold a priority launch for the 2,100 registrants for its latest condominium The Westside One. The sole 40-storey block of 338 condominium units, described by the developer as “branded residences”, will be sized from 969 sq ft to 2,066 sq ft, with indicative pricing of RM580 psf. The project will come up on a 4.23-acre freehold plot.

Are the property prices at Desa ParkCity headed for a bubble? Lee’s response: “The property value rise has also been noted in all the neighbourhoods in the area; it is broad based and not something that happened overnight.”

Still, the capital appreciation at Desa ParkCity in recent times has been exceptional and Lee attributed it to the maturing of the township. “The residents can now see and experience the township concept. The living experience there is quite special… The market will find its own level,” added Lee.