This is a large, mixed-use development that mainly leverages the close proximity of the Ara Damansara LRT station, ieducational institutions and student accommodation, besides the usual retail facilities. Pacific Place is a leasehold development with a commercial title that was launched in 2010 and completed mid-2013. It comprises a shopping mall, shop lots, shop offices, a private college and serviced apartments and is located on Jalan Lapangan Terbang, on the side of the road that leads away from the former Subang Airport.
Pacific Place was developed by Island Circle Development Sdn Bhd via its 100%-owned subsidiary, MNH Global Assets Management. It comprises six blocks of serviced apartments of about 1,200 units. Launch prices were RM320,000 upwards for the apartments, and RM2.9 mil for the shop offices. Each block has shops in the first three storeys, and its own rooftop facilities, including a peacefully named Tai Chi garden, games room and swimming pool.
There are 11 types of residential units, but the the main sizes and layouts are 717 sq ft (1-bed, 1-bath); 864 and 906 sq ft (2-bed, 2-bath); 1,042 and 1,078 sq ft (3-bed, 2-bath); 1,257 to 1,365 sq ft ((3+1)-bed, 3-bath, dual-key units). The sixth block (Block F) houses soho units with a built-up area of between 708 and 1,008 sq ft.
The location of Pacific Place in between Subang Jaya and Kelana Jaya makes it convenient for residents to avail themselves via the Kelana-Subang Jaya Link of any amenities still unavailable in Pacific Place, unlikely as it seems, given that the likes of H&M, Jaya Grocer and FOS have already established a presence there. At least, it widens the choice of schools and educational institutions. Sunway Giza, 1 Utama, Curve and Ikea are also directly reachable by road (now blighted by MRT works), and more so once the MRT is completed.
Being located off Jalan Lapangan Terbang Subang allows Pacific Place easy access to the Klang Valleys large road networks, including the New Klang Valley Expressway (NKVE) and Federal Highway. Potential owner occupiers or renters should bear in mind, however, that the high-density lifestyle of Pacific Place will make it necessary to cultivate an attitude of zen during peak hours.
Buyers of Phase 2 of Pacific Place called G Residences and Jazz Residences might have enjoyed the offer of the usual buyer incentives of free legal fees, paid stamp duty, and developer interest-bearing scheme (DIBS, now outlawed). They were also offered a sale and leaseback deal called PEP, or Property + Education Partnership, with the diversified HCK Capital Group and SEGI University, which would fully furnish and rent out their properties as student accommodation.
So, buy, sell or hold? As usual, we would recommend considering the alternatives and your particular needs. As a mixed-use or integrated development, Pacific Place offers most things in a single place, as well as a decent rail link in the LRT station right next to it.