KUALA LUMPUR: Infrastructure projects that have sprung up in the country over the past two years will create new property hot spots and revive old ones, said Ho Chin Soon, director of Ho Chin Soon Research Sdn Bhd.
Properties located near the Sungai Buloh-Kajang (SBK) mass rapid transit (MRT) stations have generated substantial buzz and one particular area with strong investment potential is Cheras South, he said.
While Cheras is a matured area, he notes that there is a growing market of upgraders in search of homes with lifestyle concepts. Seeing the potential, developers are already building in Cheras and have received positive response to their projects.
He pointed out a few noteworthy developments in Cheras South such as PJ Development Holdings Bhd’s 20.6-acre (8.3ha) integrated development You City in Taman Cheras and Selangor Dredging Bhd’s RM431 million luxury Windows on The Park as well as upcoming Mitraland Group’s Vina Versatile Homes.
The property market in Shah Alam North is also expected to see growth due to the proposed Damansara-Shah Alam Elevated Expressway (Dash), said Ho.
Dash is one of four new highways proposed to alleviate the traffic congestion in the Klang Valley. The 20.1km three-lane dual carriageway will start from the Lebuhraya Damansara-Puchong (LDP) interchange at Puncak Perdana in Shah Alam and end at Penchala link along the Sprint highway.
It will connect the north of Shah Alam to Mutiara Damansara and Kota Damansara by crossing over the New Klang Valley Expressway and the Guthrie Corridor Expressway to the LDP and Sprint Highway.
Ho expects prices of developments such as SPK Homes’ Cahaya SPK and Melati Ehsan Holdings Bhd’s Bukit Bayu @ Shah Alam U10 to increase upon completion of Dash.
Beyond the Klang Valley, Ho believes the proposed Malaysia-Singapore high speed rail link has the potential to increase demand and prices of properties in towns such as Seremban, Ayer Keroh and Pagoh.
The high speed rail link will make these towns more accessible and greatly reduce traveling time, thus making them good options for those who can’t afford to buy a house in Kuala Lumpur, said Ho.
Ho will be speaking at The Edge Investment Forum on Real Estate 2013 to be held on May 11. His presentation entitled “Looking below the radar:
Emerging hot spots” will explore new and emerging areas for investments now and the near future.
Organised by The Edge, the forum is held annually and participation is free for The Edge readers on a first-come first-served basis.
The sponsors of the forum this year are Malaysia Building Society Bhd and Sunway Bhd.
Registration opened on April 22.
This article first appeared in The Edge Financial Daily, on April 26, 2013.
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