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.
The facilities, secured by wholly owned unit Mizumi Maxim Sdn Bhd, are to partly finance the development on a 3.
Developed by UOA Development Bhd, Aster Hill is a freehold suite apartment project located in Sri Petaling, Kuala Lumpur.
“On the surface, this revenue-sharing scheme seems lopsided and demands further detailed disclosures,” they said, noting that Petaling Jaya alone is projected to face a revenue shortfall of around RM10 million under the proposed deal.
The property includes a two-storey factory, a three-storey office block, a two-storey warehouse, and a guardhouse, situated on approximately 6,182 sq m of land.
The rising rents could be a double-edged sword, on one hand signalling the appeal of the once-forgotten areas, but also threatening to price out those who jump-started the vitality.
Damansara Kim is well-located within Petaling Jaya, for both commercial and residential properties.
Asian Pac said the proposed acquisition aligns with its strategy to invest in retail malls, with the objective of increasing net property income.
Find out the y-o-y median transacted price movements of four of PJ’s most popular locales as of Oct 31, 2024 — based on EdgeProp Research and EPIQ platform.
DONE DEAL: Semidee, Bukit Damansara, Kuala Lumpur DONE DEAL: Terrace house, Ara Damansara, Selangor Our most recent data shows that average transacted prices for industrial properties in Petaling Jaya have increased by 67.
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