Property Developments In Bangsar

Transcription

1 Property Developments In Bangsar By Corey Heafy Report based on analysis commissioned by PropertyReviews.my. PropertyReviews.my, H-08, Setiawalk, Pusat Bandar Puchong, Selangor, Malaysia. Copyright PropertyReviews.my. All rights reserved. Unauthorized copying is strictly prohibited, and will be prosecuted at the fullest extent permissible by law. TEL:

2 B eing a mature residential and commercial enclave in Kuala Lumpur, the number of new property launches in Bangsar have on a downward trend since the early 2000's. Located on possibly the last piece of premium tract of land of some 2.5 hectares on Bukit Bandaraya, Serai is poised to be a Bangsar icon. Serai will comprise of some 121 homes inside two residential towers. Built by BRDB (an upmarket Malaysia developer mostly known for the famous Troika 1 in the KLCC enclave, the upcoming Verdana in North Kiara and a new upmarket project in Seri Kembangan), Serai is set to be another jewel in its already star studded portfolio. Bangsar - A Primer Also known as the hub for residential and commercial developments for the affluent, Bangsar has enjoyed superior status and rapid growth over the ears. It is strategically located in the outskirts of Kuala Lumpur, about 10 kilometers south-west of the city center. As it lies between Kuala Lumpur and Petaling Jaya, Bangsar has become the unofficial "border" placing the township in an ideal location. In fact, property developers saw the potential Bangsar offers hence the plethora of development projects in the area. Also adding to the allure of Bangsar as a hotspot for the wealthy and the rich is the nightlife. Along the streets are strings of night clubs, pubs, bistros and dining joints catering to the active and modern lifestyles of the residents and visitors alike. With non-stop night time entertainment in the area, Bangsar has been aptly dubbed as the district that never sleeps. Two very popular streets are Maarof and Telawi, but mainly Tewali or also known as "The Strip" where food, fun and entertainment are alive and melded P a g e

3 A Hotspot for the Elite Although other trendy and luxurious development hubs have since existed (including KLCC and the Embassy Row), the town remains a favorite spot of the elite. Expatriates and many of the country's rich are residents of the town, investing in some of the best high end properties in the area. A wide range of houses, apartment blocks and premier residential properties comprise majority of Bangsar's. It is a well-developed and mature enclave of exclusivity and high end living. Further proving that Bangsar is one of KL's hottest enclaves are future developments planned out by a number of developers. One of which is Mulpha Land Bhd who rolled out new projects the past year featuring exclusive Japanese residential bungalows. The projects sits in a rather small freehold site, only 1.54 acre, but with an estimated gross development value of RM94 million. One Menerung 2 is another example of an upmarket development here - it has attracted its fair share of controversy with allegations of misappropriation of funds provided by the government to a private company which was supposed to be used for cattle farming purposes. Commercial and Residential Developments Hotspot In addition to residential developments, Bangsar is equally rich with commercial developments. Recent additions include new restaurants in Jalan Ara, Bangsar Village shopping mall, retails shops and a bunch of other shopping complexes. Luxurious and premier hotels are also everywhere catering to a diverse group of tourists and visitors who crave to enjoy everything the district is known for - from shopping to dining and of course, the non-stop and super fun night life P a g e

4 It's no wonder that both expatriates and Malaysians flock to the district. For the rich who wants to enjoy luxurious shopping at its best, Bangsar has great boutiques and the Bangsar Shopping Center (the largest mall in the district). Fine dining is another specialty in the enclave. International restaurants are aplenty satisfying a wide and varied palette. While Bangsar enjoyed phenomenal growth and an elevated status over the years, it has suffered mildly in in terms of traffic jams. As more and more people are drawn to the enclave, parking has become an issue. Shortage in parking spaces resulted to inconvenience, but Bangsar responded fast with its new multi-storey car park to ease the situation. A Hub of Connectivity As for connectivity, Bangsar is easy to access via expressways and highways. Jalan Bangsar connects to the city center and Federal Highway while Jalan Damansara links to North South Highway and Jalan Duta. Either side provides easy accessibility making Bangsar a crucial point that connects to major roads in Kuala Lumpur. There is also an MRT station on Jalan Bangsar 3. Within the district, nearby amenities are accessible via taxis but residents can also commute via the Putra Light Rail Transit (LRT) or the New Pantai Expressway (NPE) for drives towards Subang Jaya from Bangsar. High End Living Seeing that Bangsar seems to have it all when it comes to luxurious and high end living, foreigners and local investors will continue to be drawn to the district. High rise condominiums, in particular, are great investment for high income earners. More developers are also P a g e

5 planning to roll out new projects that will further enhance the district's appeal to the affluent. Bungalow houses in addition to modern apartment units are also available for year round shopping and entertainment-filled living. There also has been some emphasis on green development in the recent years - Ken Bangsar is a good example of this. And with over 50 pubs, restaurants and cafes as well as art galleries, bookstores, salons and banks in the area, tourists and residents can enjoy the high life even in the outskirts of Kuala Lumpur. The area thrives in many activities that should keep boredom away. What Next For Bangsar For an in-depth study of Bangsar as a mature enclave of high end commercial and residential properties that attract the wealthy and the affluent, abroad and locally, request@propertyreviews.my for access to our White Paper on Bangsar real estate, or go here to download our property valuation guide here. 5 P a g e