Share
- Commercial activity has become a focal point of Sri Petaling’s transformation—prime stretches are now commanding some of the highest commercial values in the area, while tenants unable to keep up with rising rental rates have sought second-tier premises as alternatives.
KUALA LUMPUR (Oct 13): Sri Petaling, developed in the 1980s as a residential township, has grown more vibrant in its commercial sector, particularly along Jalan Radin Bagus where property values and rental rates have increased in recent years.
Also known as Bandar Baru Sri Petaling, it spans 620 acres (250 hectares) within the Seputeh constituency. It is bordered by other mature neighbourhoods, namely Happy Garden, OUG, Salak South Garden, Taman Naga Emas, Kuchai Lama, and Bukit Jalil.
Its appeal is supported by multiple entry and exit points and strong road connectivity through the Sungai Besi Expressway (Besraya), Kuala Lumpur–Seremban Expressway, Shah Alam Expressway (Kesas), as well as public transport links such as the Bukit Jalil and Sri Petaling LRT stations and the adjacent Taman Naga Emas MRT station.
Even though the neighbourhood hosts only two muted shopping complexes—Endah Parade anchored by AEON BiG, and The Store anchored by its supermarket, its comprehensive range of amenities, including schools, eateries, bakeries, banks, boutique hotels, medical clinics, and KL City Hall (DBKL) Community Centre, continue to draw demand from families and upgraders.
Over time, this KL suburb has become known not only as a residential enclave but also as a thriving commercial hub, with Jalan Radin Bagus emerging as a prominent retail and dining destination.
Across the township, there is a wide range of F&B options, supported by convenience stores such as 7-Eleven, 99 Speedmart, AEON BiG, myNEWS.com, KK Super Mart, and The Store. Well-known chains including McDonald’s, and Starbucks are complemented by diverse dining establishments such as GU ON Korean BBQ, Ocean Shabu Shabu, Warakuya Japanese restaurant, Hai Kah Lang seafood noodles, Thong Kee kopitiam, Sun Thai Food, Da Tang Wei Dao china restaurant, BananaBro (banana leaf rice), Super Kitchen Chilli Pan Mee, and D’Nats Malay warung.
Commercial activity has become a focal point of Sri Petaling’s transformation—prime stretches are now commanding some of the highest commercial values in the area, while tenants unable to keep up with rising rental rates have sought second-tier premises as alternatives. This shift is reflected in the sharp increase in commercial property prices, where certain units are now valued at nearly three times earlier levels.
Commercial properties within Jalan Radin Bagus, and its side lane extensions into Jalan Radin Bagus 1 to 5, have seen values rising steadily, with 564 shophouses spread across 30.51 acres. Average transaction prices here increased from RM3.7 million (RM1,500 psf) in 2022 to RM3.9 million (RM1,800 psf) in 2023, and reached RM4 million (RM1,900 psf) in 2024.
Based on the 50 most recent rental transactions recorded for 2024, rates ranged from RM1,000 for a 113.04-sq ft shoplot to RM34,650 for a 1,088.03-sq ft shoplot.
Focusing on the main thoroughfare itself, Jalan Radin Bagus, which comprises 53 three-storey shophouses, average transacted prices increased significantly from RM3.5 million in 2022 to RM5.4 million in 2023. Correspondingly, the average price psf rose from RM1,800 psf to RM2,400 psf over the same period.
The spike in rental demand is even clearer when compared to earlier years, where available data from 10 transactions showed rates ranging from RM2,100 for a 1,829.88 sq ft unit in 2017 to RM13,500 for a 2,400.37 sq ft unit in 2024.
Meanwhile, along the older Jalan Radin Anum and its connecting lanes, commercial property prices have gained spillover demand benefits from across the Radin Bagus enclave, Steady average transacted price growth was noted—rising from RM3.1 million in 2022 to RM3.3 million in 2023, and further to RM4.6 million in 2024. Similarly, average psf prices have trended upwards from RM1,400 psf in 2022 to RM1,600 psf in 2023, and RM2,200 psf in 2024.
Monthly rental rates along Jalan Radin Anum have also trended upwards, rising from RM1,800 for a 2,399.94-sq ft office lot in 2021 to RM3,700 for a 2,002.1-sq ft semi-detached shop in 2024.
On the home front
From a 1.2km radius from the point of Jalan Sri Petaling 3, on the residential front, EdgeProp EPIQ data shows that landed home average transaction prices in Sri Petaling rose consistently from RM719,000 in 2022 to RM820,000 in 2023, to RM884,000 in 2024. However, in terms of average price per square foot (psf), values increased from RM453 in 2022 to RM485 in 2023, before easing slightly to RM479 in 2024.
Non-landed homes’ average transaction prices rose from RM532,000 (RM459 psf) in 2022 to RM557,000 (RM493 psf) in 2023, but eased to RM556,000 (RM474 psf) in 2024.
New developments continue to add to the township’s density. Current projects include condominiums such as Aster Hill Residence by UOA Development Bhd, Aurum Residence by Amber Homes Sdn Bhd; Asa Residence by Aset Kayamas Sdn Bhd and a bungalow development.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
