I realised that I have forgotten to post these photos of the gorgeous One Menerung, Bangsar. These photos are taken early May, so I suspect by now the development is ready for handover, for the first Phase at least. During my visit to the showroom, there were many units still available in the last block which faces the Damansara side. Also there were attractive offers such as cash rebates after first 2 years and complimentary fittings for the unit. I will provide more details later. More progress photos after the jump.

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By Venus Hew
Email us your feedback at fd@bizedge.com

The secondary market for condominium homes in the Klang Valley has quieten down recently with buyers and investors favouring hotspots with proven capital growth such as Mont’Kiara, Bangsar and Kuala Lumpur City Centre, according to real estate agents familiar with the condominium sales market. However, despite the slowdown, prices have been maintained.

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Sinaran TTDI by UDA Holdings was launched back in mid 2006 with really good sales results. About 30% of the units were sold during the launch day itself. Quite impressive I must say, understandbly this is probably due to the fact that there aren’t many other new high-rise condominiums (other than the TTDI residence) in the matured and affluent TTDI neighborhood. Up till now, the units are all fully sold-out, as you can see from the big wordings plastered on the showroom doors at the site. However, there hasn’t been any visible construction progress since early this year.

A site check yesterday (14th July 2008) reveals quite a scary sight. There is no work at the site, without any machinery or any workers present at all. The development is reported to be completed in mid 2009, and I must say that is highly impossible. A call to the headquarters, I was told the date of expected completion would be Q3 of 2009. Don’t think that’s possible either.

This bring me to wonder if the site is actually jinxed. For those who have stayed in TTDI would know that the site that Sinaran TTDI is supposed to be built has had a string of bad history. Many developments that were carried out never had it going. It used to be a club house, but that didn’t last long and it was abandoned for quite some time, and then later revived as a mamak hangout. That didn’t last long either. Let’s not hope this will be yet another abandoned project.

UDA Holdings is also the developers for Gaya Bangsar, another high-selling project in Bangsar.

Related links
Buyers snap up Gaya Bangsar units

Click for larger image

We have been hearing about the much-needed extension of the public railway transit network, and we have even thought that this was the proposed line (wishful thinking!). But finally, we have something more concrete from the government on the subject. It was first mentioned back in 2006 by the Deputy Prime Minister but there wasn’t any news until now. One would suspect the timing of the announcement was very much one of the ways to cool people off from all the recent rise in fuel prices. It is scheduled to start work end of this year and is expected to be completed in 2012.

As you know, having reliable public transportation nearby your property can be a good thing for investors as these will potentially draw more interest, especially for middle-range rentals where tenants potentially do not own their own cars. It would be interesting to see where the lines actually run. Here is what we know so far: -

• New 40km line will cost around Rm4b – 5b to construct, mostly elevated
• The Kota Damansara line will run along Persiaran Surian, so I would think the Mutiara Damansara Station should be some where near Pelangi Damansara. However, there could be a possibility that the station be in front of under construction Giza @ Dataran Sunway. This will continue to Damansara-Puchong Expressway heading towards city centre along Sprint Expressway, through Bangsar Baru and Jalan Bangsar.
• Around 30 stations in the new line (!!!)

However, reading the report on The Star, it seems that everything is in the “plans”. That would mean that nothing is really concrete yet. I hope this is not just another strategy of the government to soften the effect of the recent unpopular fuel prices.

Related links
Proposed Rail & Transit from Jabatan Perancangan Selangor

By Sharen Kaur
sharen@nstp.com.my

BANDAR Raya Developments Bhd (BRDB) will spend at least RM250 million to upgrade Bangsar Shopping Centre and build an office tower next to the mall.

This is BRDB’s first major refurbishment plan for BSC since it opened its doors in 1990. Work started early this year and is set to be done by the end of 2009.

Chairman Datuk Mohamed Moiz Ali Moiz told Business Times that RM70 million is for an extreme makeover for BSC. (more…)