17 July 2006
In Pusat Bandar Puchong, the prices of double-storey terraced houses have appreciated substantially since the project kicked off in 1994. The smallest 18’ x 65’ units which were priced at RM117,000 have appreciated to RM220,000 today while the 20’ x 70’ units are changing hands for RM300,000 from the launch price of RM150,000.
Land value, especially those surrounding Putrajaya, was reported to have appreciated from RM1.50 psf before the development of Putrajaya to RM50 psf now.
According to Putrajaya Holdings Sdn Bhd chief executive officer Azlan Abdul Karim, Putrajaya and Cyberjaya offered the most growth potential. Putrajaya in particular, has invested in excellent infrastructure, amenities and architecture. This will pay off in the future as the city matures.
“In terms of concept planning, Putrajaya is a showcase city and the architectural and planning efforts made throughout the city ensures that it will be a tourist attraction to rival international cities in years to come,” Azlan told StarBiz.
IOI Properties Bhd director Datuk David Tan said with the growing affluence of the population in the corridor, the types and prices of properties being developed here have reached the levels of those in established neighbourhoods in Petaling Jaya and Kuala Lumpur.
“With these, developers are compelled to meet expectations on quality of workmanship and customer service,” he added.
IOI is one of the property companies that had made it big in Puchong in the 1990s through its 930-acre Bandar Puchong Jaya followed by the 930-acre Bandar Puteri Puchong. Tan said the company still believed in the corridor’s potential and had lined up a new township on 550 acres at the entrance to Cyberjaya.
“This new township has been carefully planned taking into consideration the needs of house buyers. We have gained valuable feedback from our buyers and have new concepts and ideas on housing and environmental designs that will fulfil their more discerning expectations,” he added.
IOI’s future launches in Bandar Puteri Puchong would include higher end bungalows and corporate offices fronting the Damansara Puchong Expressway.
This is a big improvement from its early days as a pioneer developer in Puchong where the initial phases comprised modestly priced terrace houses “to attract buyers to the region.” To enhance the image of the once-remote region, the company ploughed in much investment in infrastructure, including the district police station and quarters, community hall, main roads, flyovers and the IOI Mall. As the company's success grew, its subsequent developments catered for a much wider catchment market.
Another early developer in Puchong, SP Setia Bhd also went on to become a big success in the property business.
Despite having moved on to the western growth corridor as its two flagship developments, Setia Alam and Setia Eco Park, are in Shah Alam, group managing director and chief executive officer Tan Sri Liew Kee Sin said the company was thankful for the opportunity to develop Pusat Bandar Puchong as it turned out to be a signature showcase of an SP Setia development.
“The mature township on 700 acres has all the hallmarks of innovative designs, quality workmanship, extensive landscaping and well-planned masterplan.
“Over the 10 years of developing Pusat Bandar Puchong, we have reinforced our reputation as a quality developer. Pusat Bandar Puchong is today regarded as one of the greenest and most well maintained townships in the vicinity.”
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