I believe everybody is aware about the New Economic Model (NEM) which was announced by our prime minnister a few days ago which aim to bring Malaysia to high income nation in 10 years time.
However, what interest me more is the news on Government and EPF to jointly develop 3000 acres of land in Sungei Buloh into a new hub for the Klang Valley. If is it true then the property price around the area may increase. This is a good news for property investor.
But, where is the exact location?
MRCB will be the likely candidate to undertake the project on behalf its largest shareholder EPF, which currently holds about 40% of MRCB.
This is in line with recent General Offer from EPF by substantially increase its stake in MRCB and subsequently to turn MRCB into EPF’s property arm.
The size of the land mentioned during the NEM announcement matches the description of the Federal Land under the Rubber Research Institute (RRI).
Recently, MRCB has submitted to the Government its development proposals for several pieces of Federal land, including the RRI land. The media has reported that MRCB was accompanied by representatives from EPF during the presentation.
MRCB has proposed to adopt an “integrated’’ development concept for the RRI land, with a combination of commercial, residential as well as a transport hub given that the final stop of the proposed new LRT line will be located there. The new LRT line is connecting Kota Damansara to KL Sentral and Cheras.
Based on its agricultural land status with an estimated market value of RM3 psf, the total land cost for the RRI land is estimated at around RM392m. To recap, following the recent rights issue exercise, MRCB had allocated RM380m for future land acquisitions and development.
Is this true?
If this is a true then it is very good opportunity for us to buy the property around that area. Among the residential area nearby RRI are Kota Damansara and Subang Bestari. Kota Damansara area may be a little bit expensive when compared to Subang Bestari.
I believe, Subang Bestari area is better because Help University is going to have their new campus there and a new government office for Petaling District is just completed there as well.
The area is easily assessible because of close proximity to NKVE and GCE highway. It is close to Subang Airport as well.
What do you think?
Hi,
Nice forecast on the NEP development. I believe this is a good opportunity to have. Is any new residential project around there?
The closest to RRI is Subang Bestari. Go & take a look this weekend. Then decide whether it is worth it or not.
For the last 3 to 4 years after MAS and AirAsia shifted to KLIA, the properties development at Sungai Buloh had shot up.
Without doubt, the Sungai Buloh is a new development area as land price is cheaper and residential houses are much cheaper than the long developed areas in PJ.
I guess, this Sungai Buloh can be developed as another successful Bandar Utama with the right urban residential and commercial planning, also not forgetting good infrastructure to accommodate traffics.
Then, it will be a good investment.
Sungai Buloh is quite huge. We still don’t know on which particular part that the Government is planning to develop. In my honest opinion, I do think that they will develop Bukit Rahman Putra area first before proceeding with other areas. However, I do think the effect of the development will increase the value of properties in the surrounding area.
I think those who are interested to buy a double storey house, can look for properties at Saujana Utama area. The price is reasonable (for the time being). You can get a double storey house 20 X 70 built up 1700 sqft for around quarter of a million.
So, if you ask me whether it’s worth investing in property at Sungai Buloh, I will definitely say YES…..
People are speculating it the the location for the new hub will be at RRI.
If the new hub will be build at RRI, Subang Bestari which is just beside RRI will be beneficial.
Yes, I’ve been to Saujana Utama but I feel that it is quite far when compare to Subang Bestari. I think you can still buy a 20×70 terrace house in Subang Bestari for less than RM300k.
For those interested to invest in property at and near Sungai Buloh, there are few housing estate nearby.
The nearest is Subang Bestari, followed by Subang 2 and Uranus U5 and Subang Galaxy. All situated nearby.
You can also find 3 storey houses for sale at Uranus U5 for RM288,000. Houses are new about 3 years old and 90% occupied.
While Subang Bestari located nearest is quite an old residential houses probably about 10 or more and located near future Help College.
Without doubt, this area will get hotter, but the only downside is that it is quite a distance from KL.
Thanks for this article. I was contemplating to sell my Kota Damansara house. Maybe I will wait until this “latest development” becomes clearer. If it is RRI, then I think it is quite sad.. coz we will be losing another green lung in the name of development.
somehow, i think having a home at Uranus is funny…
Uranus…if you got what i meant 😛
no offense those who live there..
You can see Utarid, Bintang, Galaxy & many more over there. 🙂
For those who interested on property investment there is a new township nearby RRI…Denai Alam..it is a Sime Darby’s prop, closest to NKVE, GUTHRIE and new proposed route PENCHALA LINK..
but the cheaper maybe hard to find with price around RM400k!
By the look of it, it is probably around Subang Bestari and Subang 2 area. The reason is because it is near
a. Subang Airport
b. Kota Damansara and Sri Ara – so this will be freehold land left in these prime area.
c. HELP University will be build in this area (confirmed)
d. It is well served by all the major highway – NKVE, Guthrie Corridor and Penchala Link (on the way)
e. The most interesting news is that a secondary shophouse that cost RM400K last year is now going for RM650K. The latest launch by Mah Sing for double storey shophouse is going for RM2.5 mil in this area.
Well, these facts may of be interest to all potential investors
Cheers
Agreed with Mas. Denai Alam is really a nice place, however price is at the high side.