Property Hunter Magazine Issue 63- February 2015 | Page 17
Potential Property Hotspots In
Malaysia For 2015
Vinci To Complete Jesselton
Residence Project In Just 1.5 Years
P
roperty developer Jesselton
Group has awarded Francebased Vinci Construction
Grands Projects the contract to
develop a 125,000 sq m mixed-use
development in Kota Kinabalu.
Real estate
R
eal estate in a number of
developing areas in the Klang
Valley has risen in popularity
despite the economic uncertainties
in recent years.
Although there were many
successful launches with units
snapped up within a weekend
or two, they did not indicate the
growth of a developing hotspot,
says C H Williams Talhar & Wong
Sdn Bhd managing director Foo
Gee Jen.
There had been instances of
people buying on “herd instinct”
similar to the stock market, where
prices were already too high or
when sales were driven by rumours
or market manipulation.
“Sometimes, the market
activity is due to genuine
market forces but it is
difficult to be certain,”
he says. “Rather, it is the
fundamentals that drive
the upcoming of real
estate in an area.”
PA International Property
Consultants (KL) Sdn Bhd head
of agency Wendy Tong points to
infrastructure development as a key
factor in bolstering property growth.
“Developments near the upcoming
light rail transit (LRT) and mass
rapid transit (MRT) lines are likely to
comprise stratified residential and
smaller mixed-use components,”
she says.
“As accessibility is a big issue for
buyers and investors, the mantra
seems to be to choose properties
where train stations and highways
are built,” Malaysian Institute
of Estate Agents president Siva
Shankar says.
However, there are exceptions
to the general “rule”, he adds,
where some hotspots do not
seem to be location-driven. “We
have seen many locations that
were previously perceived as
“disconnected”, such as Bangsar
South - previously Kampung
Kerinchi - but developers have
transformed it into an urban and
lively locale. This has changed
perceptions as to its attractiveness
as a hotspot,” he says.
Foo says well-planned
developments will be selfsustaining as they are developed
with a clear and solid objective.
Foo says such localities will sell fast
with facilities and amenities such
as education, healthcare, leisure,
entertainment and security.
The project will include a
seven-storey podium over two
underground levels which will feature
a 20,000 sq m shopping centre and
over 900 parking spaces, as well as
a complex that is made up of three
20-storey residential buildings with a
total of 333 condominium u