Wisma UOA Damansara, Kuala Lumpur office rented for RM6.6k | DONE DEAL

D'Pulze Residence, Selangor serviced residence sold for RM280k | DONE DEAL

USJ Sentral, Selangor shop sold for RM2.7m| DONE DEAL

Bandar Teknologi Kajang, Selangor factory sold for RM5.2m | DONE DEAL

According to EdgeProp EPIQ, within a 0.5km radius of Wisma UOA Damansara, the average transacted price for commercial properties surged from RM551,000 in 2022 to RM30 million in 2023, and shot up further to RM70 million in 2024. The extraordinary spike was caused by outliers including a RM304 million land transaction. The price per-square-foot (psf) also climbed from RM560 in 2022 to RM863 in 2023, before jumping to RM13,000 in 2024. Looking at just Wisma UOA Damansara, the average transacted price rose from RM800,000 in 2022 to RM1.3 million in 2024. The price psf, however, dipped from RM845 in 2022 to RM762 in 2024.

According to Shawn Fernandez (REA 2445) (012-288 1251) of Aegis Property, the tenants were seeking to relocate their office to Bukit Damansara to be closer to their main clients and found this property ideal because of its excellent presentation and prime location. Both parties were satisfied with the deal. The owner was happy to find a replacement following the previous tenant’s departure.

As of the beginning of November, based on two sale listings on EdgeProp at Wisma UOA Damansara, the average asking price was RM2,457,980 or RM626.70 psf, based on a built-up of at 1,442 sq ft. Based on 100 rental listings, the average monthly rate was RM22,568.69 or RM5.50 psf based on built-ups ranging from 1,178 to 13,500 sq ft.

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.