PETALING JAYA (June 11): Public transport operator Prasarana Malaysia Bhd serviced apartment project Perla @ Ara Sentral in Ara Damansara, Petaling Jaya has secured 70% bookings since the project's soft launch in February 2020.

With a gross development value of RM1.12 billion, the freehold transit-oriented development (TOD) project comprises two blocks housing 648 units. Unit sizes range from 550 sq ft to 1,271 sq ft. Of the 648 units, 180 are affordable housing units which have yet to be sold. Price for the non-affordable housing units starts from RM390,000.

The project which is linked to the Ara Damansara LRT station is slated for completion in 2022. According to Prasarana, about 160 sales and purchase agreements have been signed to date.

The project is the first phase of a 15-acre freehold integrated development called Ara Sentral which comprises office, hotel, retail and residential components. Ara Sentral is a joint venture development between land owner Prasarana and ADS Projek Sdn Bhd, a wholly owned subsidiary of Bursa-listed TRC Synergy Bhd.

Facilities at Perla include a function room, reading room, convenience store, indoor and outdoor gyms, swimming pool, playground and so on.

 

“Developing TODs could help Prasarana to generate revenue besides rail and bus operations. Our non-fare revenue is small now, but we are working to build it up,” said Prasarana chairman Datuk Sri Tajuddin Abdul Rahman during a press conference today at Ara Sentral Sales Gallery.

Prasarana’s non-fare revenue also includes advertising and other commercial activities. The company runs urban rail lines including mass rapid transit (MRT) line, light rail transit (LRT) lines, monorail line, as well as bus services.

 

Property development which is operated under its "business venture" division is a part of the company’s land cost recovery initiative.

Apart from Ara Sentral, the company has seven other TOD projects in the Klang Valley located at Taman Tun Dr Ismail, Dang Wangi, Brickfields, IOI Puchong, Kelana Jaya, Awan Besar and Glenmarie, with GDV between RM600 million and RM3.5 billion.

 

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