Picking Pace with Modernisation

Picking Pace with Modernisation

Bukit Jalil’s map of interests

Located just 20 kilometers south of Kuala Lumpur city, Bukit Jalil rose to prominence as a result of the 1998 Commonwealth Games with the development of the National Sports Stadium and a host of apartment blocks to accommodate participating athletes. Since then, Bukit Jalil, popularly known as the sports town, has rapidly grown in stature, and today is one of Kuala Lumpur’s most sought-after addresses due to its close proximity to Kuala Lumpur city.

After the Commonwealth Games ended, Bukit Jalil was transformed into an incubator hub for technological companies and venture capital entities housed at a central area called Technology Park Malaysia (TPM). TPM was developed as a science park for research and development of knowledge-based industries. Since then, it has been no turning back for Bukit Jalil as the township picked up speed in development and progress. Soon, Bukit Jalil began welcoming scores of business entities who set up operations in the vicinity. To match the pace of progress, more development projects emerged including residential and commercial centres. Today, Bukit Jalil has a distinguished selection of properties which include both landed and non-landed residential units.

The neighbourhood has also attracted several international-class educational institutions which include the Asia Pacific University (APU), the International Medical University (IMU), FTMS Global College and TPM College.

Bukit Jalil enjoys excellent public transportation with an LRT station located at the centre of the township, within walking distance from corporate offices and the sports centre. RapidKL buses provide convenient commuting options for residents, whilst city taxi services ply the area. Bukit Jalil is easily accessible via the Shah Alam Highway (KESAS), the Kuala Lumpur-Putrajaya highway, the Bukit Jalil Expressway, the Maju Expressway (MEX) and the KL-Seremban highway.

Bukit Jalil poses great potential as the next large township development. This is further enhanced by its excellent location and strong infrastructure comprising rail projects and access roads, which are main pull factors in the property sector. The upcoming MRT train services will boost the location’s value due to increased accessibility to and from the city centre as well as other key areas.

Bukit Jalil is a good investment for both developers and buyers as good returns are expected in the future. The average growth for house prices in KL has stood at 6.17% per annum over the last 22 years, and based on that, the prognosis for encouraging returns on investment is approximately 5 years, once all the rail projects and expressways have been completed.

The presence of prominent universities in the area has caused the student population in Bukit Jalil to increase significantly, thus creating a good market for rental yields. Bukit Jalil poses a dynamic market with a good number of students, professionals and families seeking affordable landed and non-landed properties within close proximity to Kuala Lumpur’s city centre.

 

Demand for double-storey terrace houses from 2013 to 2015

Bukit Jalil residential demand for double storey homes from 2013 – 2015

iProperty.com’s iQ data reveals that in 2013, 66.85% of buyers sought homes ranging from RM300,000 to RM700,000, gradually reducing to 44.15% in 2015 for the same range. However, those seeking homes in the range of RM700,000 to RM1 million rose from 27.30% in 2013 to 40.72% in 2014, followed by a drop to 25.52% in 2015. Buyers seeking higher-end properties in Bukit Jalil ranging from RM1million to RM1.5 million also increased from 3.62% in 2013 to 12.10% in 2014, and subsequently 25.73% in 2015.

 

Demand for condominiums from 2013 to 2015

Bukit Jalil residential demand for condominiums from 2013 – 2015

iProperty.com’s iQ also shows that buyers seeking condominium units ranging from RM300,000 to RM700,000 have remained high at 68.9% in 2013, to 60.78% in 2014 and 63.89% in 2015. The demand for condominiums ranging from RM700,000 to RM1 million rose from 23.56% in 2013 to 28.29% in 2014 and dropped slightly to 25.87% in 2015. The demand for high-end properties ranging from RM1 million to RM1.5 million has increased from just 3.67% in 2013 to 8.3% in 2014 and dropping slightly to 8.23% in 2015.

 

The future

Bukit Jalil residential demand from 2013 – 2015

As the Klang Valley transforms to embrace the 21st century, Bukit Jalil has also been swept up in that emphasis. The township is set to welcome Bukit Jalil City, a 50-acre freehold integrated development, jointly developed by Malton Berhad and Ho Hup Construction Co Bhd. The project will be developed over four phases and is expected to be completed in 2019. Phase 1 will comprise 112 units of serviced apartments, whilst Phase 2 will offer The Park Sky Residence comprising 500 units of serviced apartments. Phase 3 consists of a shopping mall called the Pavilion 2, and Phase 4 is set to be a hotel or a corporate office tower.

Bukit Jalil’s latest launch is Phase 1 of a fascinating mixed-use development called The Link 2, spread across 4.75 acres of land. Phase 1 comprises 22 units of 4 and 6-storey shops, 178 units of shop lots and 539 condominium units. Plans for Phase 2 is currently in the pipeline.

Bukit Jalil has excellent amenities which include a golf course, recreational parks, a golf and country resort, primary and secondary schools, and a convention centre. Due to the growing population of Bukit Jalil, the township has been experiencing traffic congestion, however, the prognosis is that, when the MRT services are up and running, traffic congestion may be reduced slightly. Thus far, Bukit Jalil has attracted both owner-occupiers and buy-to-let investors who see great potential in the vicinity.

Bukit Jalil is flanked by several mature neighbourhoods which is an advantage, given the vast amenities and convenience that can be leveraged on. Neighbouring Bandar Baru Seri Petaling and Taman Sri Endah, offer a host of commercial centres, retail hubs and shopping hotspots, among others. Kuala Lumpur’s city centre is just a 20-minute distance from Bukit Jalil, a major plus point for the township.

In the months ahead, Bukit Jalil is expected to continue to receive a good demand for both landed and non-landed properties considering its locality and affordable price ranges.

 

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