Lee and the secrets of Desa ParkCity’s allure

KEPONG: Good design, well-planned infrastructure and facilities, and a large enough population that could create business vibrancy — these are the elements that have made the Desa ParkCity master planned township development in Kepong one of the most desirable addresses in Kuala Lumpur.

“The liveliness of the township, the healthy lifestyle and sustainable elements that it promotes as well as its secure and safe environment are also some of the basic factors that contribute to the success of Desa ParkCity, which was once an active quarry that nobody wanted to be near to,” said Perdana ParkCity Sdn Bhd former CEO Lee Liam Chye during TheEdgeProperty.com Breakfast Chat at the Desa ParkCity clubhouse last Saturday (Nov 5).

Perdana ParkCity — a unit of Sarawak-based Samling Strategic Group — is the developer of the 473-acre award-winning township. Organised by TheEdgeProperty.com, Lee was invited to share the philosophy behind Desa ParkCity township’s master plan and its success. Over 100 attendees were at the event. The session was moderated by TheEdgeProperty.com managing director and editor-in-chief Au Foong Yee.

Check out a video of the Breakfast Chat event here.

Inspired by a development concept that emphasises open and leisure spaces, which are popular in developed countries, Lee said the vision was to create a township where the public places are filled with people enjoying lively activities, like jogging and cycling or just taking a stroll.

“The master plan of Desa ParkCity as well as its DNA is to invite people to own and use the public place, which is safe and secure,” said the 63-year-old, who recently assumed the role of personal advisor to the group executive chairman. Former executive director Datuk Joseph Lau is now the new CEO of Perdana ParkCity.

Lee cited that the sense of community, identity and belonging are the main reasons that keep drawing people to Desa ParkCity.

To attract people to the public spaces in Desa ParkCity, thus making the township a vibrant place, the developer had created a 43-acre central park, a sports centre and a 150,000 sq ft waterfront commercial hub.

The central park has now become one of the most popular chill-out places in town, including for pet lovers who frequently visit the pet-friendly park.

“We designed it as a pet-friendly park. Surprisingly, 70% of pet owners who visit the park are not Desa ParkCity residents. Some even come from as far as Rawang,” he said.

Indeed, the lively community park is among the main draws for both visitors and homebuyers. However, Lee admitted that as demand for houses increase, Desa ParkCity’s housing prices have exceeded most middle-income earners’ affordability. However, this should not deter them from considering to buy a property in Desa ParkCity, he said.

In a high housing price environment, especially for established townships, Lee said the “buy low sell high” theory is no more applicable.

“Focus on the potential capital appreciation rather than the current price. Buyers should then aim to buy high and sell higher!” he emphasised.

He explained that housing prices will continue to rise in tandem with the rise in construction costs and land scarcity, especially in city centres. Although price growth has slowed down recently, it will definitely climb in the next boom period, he added.

Upcoming at Desa ParkCity

In the near term, Desa ParkCity is planning to launch another high-rise residential project which is targeted at young couples or single homebuyers.

“The product will be targeting an untapped market. The project will offer affordable compact apartment units for young couples or single working individuals who are not eligible for the government’s affordable home schemes,” he said.

However, he emphasised that affordable homes do not mean low-cost homes. “It’s affordable for the market segment that we are serving,” he explained.

According to Lee, the compact units will have a built-up size of about 500 sq ft with choices of one bedroom or two bedrooms.

Lee also sees opportunities arising from an aging population and he is mulling the idea of developing a lifetime community that promotes an age-friendly environment and multi-generational activities.

“Aging people do not want to feel that they are being isolated. We need more facilities in our community public places to encourage their participation in community activities. Desa Park-
City is working towards this direction,” said Lee.

He disclosed that the developer is exploring the development of independent living units that cater to the elderly by offering care and medical services while not isolating them from the multi-generational community.

He concurred that the biggest challenge is public perception of elderly homes or retirement homes. He believes this negative perception will change as the family household size gets smaller.

“Think about this, what if you work overseas but your parents are sick and need someone to take care of them? Wouldn’t it be ideal if they are living in a place where their needs are well taken care of?

“I’m not sure about the market demand now, but as the aging population increases, it will be there soon,” he said.

This story first appeared in TheEdgeProperty.com pullout on Nov 11, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.