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> ATRIA SOFO SUITES @ DAMANSARA JAYA, my beloved neghbourhood goes tall (Investment)

accetera
post May 26 2010, 12:21 AM


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http://www.atria.com.my

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The Atria SOFO suites taken up in a day
By Haziq Hamid of theedgeproperty.com
Friday, 25 November 2011 15:41

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PETALING JAYA: Property developer OSK Property Holdings Bhd's The Atria in Damansara Jaya is off to a running start. It sold off all of its The Atria SOFO (Small Office Flexible Office) suites on the first day of launch last Friday.

Eager purchasers lined up at the sales gallery on the eve of the launch, hoping to be the first buyers. The Atria SOFO suites are one of the components of the new The Atria project which replaces the old Atria Shopping Centre, one of the oldest shopping centres in Petaling Jaya. Demolition began in August this year.

Besides the SOFOs, The Atria integrated development also comprises a shopping gallery with a gross floor area of 600,000 sq ft and a net lettable area of 450,000 sq ft, including an entertainment facility.

The 5.5-acre freehold project has a gross development value (GDV) of close to RM1 billion. Currently, only the SOFO suites are for sale as plans for the shopping gallery are still being finalised. The suites are flexible and can be utilised either as work or living space.

The 392 units of SOFO are housed in two 16-storey towers above the retail floors and have a total GDV of RM200 million. Built-ups range from 488 to 1,343 sq ft. Prices range from RM360,800 to RM1 million or RM720 to RM1,000 per sq ft.

The facilities at The Atria SOFO suites include a lap pool, jacuzzi, gymnasium, sun deck, sauna, meeting room, sky lounge and garden. The basic units are fitted with air-conditioning and heater points. There are 1,959 parking bays.

Emily Cheng, OSK Property senior public relations and communications executive, said at the launch that the developer was confident the units would be fully sold in three days. But the units were 100% taken up by 4.30pm on the first day of launch. The purchasers were a mixture of investors and owner-occupiers.

"Homebuyers and investors are very selective given the global economic conditions. But property developments in good locations are still very hot," she said.

During the launch, purchasers were given an early bird rebate. Construction will begin next month and is expected to be completed in 36 months.

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This post has been edited by accetera: Aug 10 2013, 10:15 PM
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ralyon
post May 26 2010, 02:28 PM


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when are they going to start building that?
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pilotHans
post May 26 2010, 04:05 PM


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I would ask where exactly? sweat.gif at the open space carpark? hmm.gif
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kathlynn
post May 26 2010, 04:07 PM


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gosh. the further congession! sad.gif
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accetera
post May 26 2010, 10:23 PM


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QUOTE(ralyon @ May 26 2010, 02:28 PM)
when are they going to start building that?
*
5 months ago MBPJ put up a "NOTIS" signboard of the cadangan pembangunan


QUOTE(pilotHans @ May 26 2010, 04:05 PM)
I would ask where exactly?  sweat.gif at the open space carpark?  hmm.gif
*
the whole area from hawker centre (Starbucks/OCBC) to the frontage of HSBC/Hokkien mee restaurant



QUOTE(kathlynn @ May 26 2010, 04:07 PM)
gosh. the further congession! sad.gif
*
the roads there are so jammed up these days
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klang-valley
post May 26 2010, 10:27 PM


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This is Malaysia boleh land.

I can foresee residential property price around that area will boom up again.


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shiniraz
post May 27 2010, 12:39 AM


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Already launch?wonder who's the developer n the price range will be ... blink.gif
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ralyon
post May 27 2010, 09:58 AM


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You guys might want to check out Glomac Damansara which is about only 500m away from Uptown, the construction already started.

Glomac
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accetera
post May 28 2010, 01:08 AM


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QUOTE(ralyon @ May 27 2010, 09:58 AM)
You guys might want to check out Glomac Damansara which is about only 500m away from Uptown, the construction already started.

Glomac
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yeah most ppl realise that project since last year.... manyak mahal lah...... and de development is slowly picking up these few months.........

wat about a condo next to Atria Damansara Jaya??

This post has been edited by accetera: May 28 2010, 01:09 AM
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yeeyuen87
post May 28 2010, 08:58 PM


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any contact number?
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accetera
post May 29 2010, 12:29 AM


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For Damansara Uptown project, pls visit:
http://www.shcsb.com.my

For Atria project, pls wait till 2011......

This post has been edited by accetera: May 29 2010, 12:29 AM
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mayshy
post Jun 2 2010, 12:04 PM


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QUOTE(accetera @ May 28 2010, 01:08 AM)
yeah most ppl realise that project since last year.... manyak mahal lah...... and de development is slowly picking up these few months.........

wat about a condo next to Atria Damansara Jaya??
*
Oh.. I only get to know this when reading this post.. what's the price for Glomac Damansara? 500m from uptown.. isit means it is inside the Uptown at the carpark open space there? Or we are talking about 2 different properties?

Anyone have updated or info on this? icon_question.gif




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ralyon
post Jun 2 2010, 05:45 PM


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QUOTE(mayshy @ Jun 2 2010, 12:04 PM)
Oh.. I only get to know this when reading this post.. what's the price for Glomac Damansara? 500m from uptown.. isit means it is inside the Uptown at the carpark open space there? Or we are talking about 2 different properties?

Anyone have updated or info on this?  icon_question.gif
*
Glomac Damansara is a different project, located opposite of Damansara Intan. You can check their website for details.
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accetera
post Jun 25 2010, 08:10 PM


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still some time for this project to kick off....
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dlyw1103
post Sep 19 2011, 09:02 PM


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City&Country: Cover Story -- A boost for Damansara Jaya
By Lam Jian Wyn and Wong Mei Kay of The Edge Malaysia
Sunday, 18 September 2011 00:00

New Atria offers potential upside

The sight of one of Petaling Jaya’s oldest malls, The Atria Shopping Centre, shut down and enclosed by zinc sheets no doubt evokes bitter-sweet feelings among its former tenants and regular visitors, and residents living nearby.


The 4-storey building in Damansara Jaya had survived for over a quarter of a century and featured a gross floor area of 294,683.5 sq ft, and a net lettable area of 208,400 sq ft, and shared its 5.7-acre plot of freehold land with two 3-storey covered car parks.

Owner OSK Property Holdings Bhd plans to replace the old mall with a RM1 billion development that will comprise a 5-storey retail podium beneath two 16-storey office towers.


The development will be known simply as Atria, and its components tentatively named Atria Shopping Gallery and Atria Towers.


“We are certainly going to use the ‘Atria’ name, but we are still working on the names of the components,” OSK Property senior public relations and communications executive Emily Cheng tells City & Country.

The redeveloped Atria will feature a public rooftop garden
When completed, the podium will have 450,000 sq ft of retail space for lease and 1,830 parking bays housed in two levels of underground parking and five levels of multi-storey parking.


“With more parking, we hope there will be less double and triple parking in the area — that’s one way we can alleviate traffic congestion here,” says Cheng.

The retail podium will have a roof garden with water features and will be open to the public.
The group plans to retain the neighbourhood mall concept, although the development will feature a lot more food and beverage outlets that will take advantage of the al fresco concept of the retail compound.

“We are not actively talking to anchor tenants at the moment because it will take us six months to complete the demolition of the old building,” says Cheng.


Almost all the tenants, some of them part of the mall since the 1980s, have moved out except for The Language House. Work on the mall has not yet begun, although most of the property is closed.

It has been reported that the school has mounted a legal challenge against OSK Property on the grounds that notice to move out in three months was insufficient and the tenancy contract only provides for repair and renovation works, not redevelopment.

Meanwhile, Cheng says previous tenants of The Atria will have “privileges” in the selection of shoplots if they choose to return.


OSK Property is aiming for Green Building Index (GBI) certification for the two 16-storey towers above the retail podium. The towers will feature rainwater harvesting systems, improved ventilation and sun shade, among other energy-saving measures.

The development will comprise a 5-storey retail podium below two 16-storey office towers
Tentatively, one tower will feature 100 units of designer office suites with floor space ranging from 597 to 4,846 sq ft. OSK Property plans to build four to 10 units per floor. In total, both towers will have 310,000 sq ft of gross floor space.

“We have not decided on the price, but we are looking at around RM700 psf,” says Cheng.

The other office tower will likely have 155,000 sq ft of gross floor area with floor plates ranging from 11,840 to 13,100 sq ft. The group plans to sell this office tower en bloc.

“We will try to make the connection between the mall and the public roads outside more seamless. What we aim to do is improve traffic flow within the mall compound, besides making it more pedestrian friendly.


“So for a bit of inconvenience during construction, there will be big rewards later. There will be a big upside for people in the area,” says Cheng.

OSK Property plans to further increase the number of parking bays by developing two hawker centres next to the development.


It has submitted proposals to Majlis Bandaraya Petaling Jaya (MBPJ) and is awaiting the council’s response to cooperation on developing the hawker centres.


The group also has not ruled out working with MBPJ to improve the roads leading into and around the area, says Cheng.

The new mall will feature a wider drop-off zone to expedite passenger pick-ups and drop-offs to reduce congestion, she adds.

The retail podium is expected to be completed by end-2013 while the towers will be completed by end-2014 or early 2015.

Old area with stable growth
Kim Realty Sdn Bhd CEO Vincent Ng says there are not usually a lot of transactions of the shopoffices surrounding the mall.


Google Maps satellite images show that there are almost 160 shopoffices divided into 16 rows surrounding The Atria Shopping Centre.

There was only one noteworthy transaction early this year where a 4-storey shopoffice with a built-up of 1,650 sq ft facing the thoroughfare was sold for RM2.6 million, says Ng. A similar unit was sold for RM2.2 million last year.


Ng identifies the row along Jalan SS22/19, where the post office is located, as the most sought after, followed by the row facing Jalan SS22/25, where his office is located.

He says the largest corner units with frontage of 26 ft have been valued at RM3.3 million to RM3.5 million, although he has no doubt that these units can fetch up to RM4 million.

“There aren’t a lot of units for sale here. The people who own the shopoffices usually own several units and occupy these buildings. Many use them as corporate offices. Investors also tend to keep the units for the long term. Of course, if they were offered over RM3 million, they will consider parting with the properties,” says Ng.

He pegs the appreciation of values at 20% over the past 12 months, but attributes the increase to the performance of the Klang Valley property market in general and not due to The Atria Shopping Centre’s redevelopment.

Rents range from RM3,000 to RM6,000, depending on location and levels. According to Ng, rents have been fairly stable over the years given the lack of development in the area.

However, DTZ Research director Brian Koh says shopoffice values in the area have risen by 10% over the past 12 months.

In February, a shopoffice with a built-up of 5,390 sq ft was sold for RM2.6 million. In comparison, two similarly sized units were sold last September for RM2.15 million each.

Koh agrees that transactions are limited, with only six to eight shops put up for sale last year. He attributes the growth in values to the anticipation of the redevelopment of the mall and the general property market trend.

Koh foresees minimal impact on the shopoffices from the mall’s redevelopment, save for ground floor units immediately facing the construction site. “But most of these are not for pure retail usage so impact will be more limited,” he says. He also does not expect a lot of owners to put these units up for sale as they would more likely adopt a wait-and-see approach.

Lower rents in short term
In the longer term, Ng believes that Atria, when completed, will add vibrancy to the area as the combination of designer suites and office space will increase traffic while the new parking bays will handle the surge in vehicles.

He compares the potential change to that in Damansara Jaya following the development of Damansara Uptown by See Hoy Chan Sdn Bhd. Damansara Uptown Phase 2, which is underway, will comprise two residential towers, an office tower, a 400,000 sq ft retail mall, a conference centre and 200 serviced apartments called Somerset that will be managed by The Ascott Ltd, a unit of CapitaLand. The project is expected to be completed by 2015.

“However, Damansara Jaya won’t be as vibrant as Damansara Utama, simply because it is not as big,” says Ng.

During the construction period, he expects the values and rents of shopoffices facing The Atria to decline. However, should OSK Property decide to enhance connectivity between the mall and the shopoffices, their values and rents may rise tremendously.

“It will be good news for the owners — they can tap into the vibrancy of the new mall,” Ng explains.
Koh expects shopoffice values in the area to be maintained and rents to dip slightly while work is underway. Units facing the construction site will likely suffer in the short term.

Koh also says values are expected to increase, although he declines to say by how much, while rents are expected to rebound upon the completion of The Atria and balance out any losses incurred during its construction.



The accidental shopping centre

Many would be familiar with the early days of The Atria Shopping Centre — in 1982, the mall started off as Gardenia Town Centre with Japanese retailer Kimisawa and French department store Printemps as its first tenants.

However, not many may know that developer See Hoy Chan Sdn Bhd did not originally plan for it to become a shopping mall.

“It was built as an entertainment centre, with a cinema and a gaming arcade. You could see it in the building’s design,” says Kim Realty Sdn Bhd CEO Vincent Ng.

“I don’t know why it [See Hoy Chan] changed its mind. It could be due to market forces. There was no shopping centre like it in the 1980s, before the time of 1 Utama and Mid Valley Megamall,” he tells City & Country.

The mall stood out from the myriad emporiums that dotted the country, thanks to its organisation where each tenant had an individual shoplot, in contrast with the more open-floor emporiums such as Thrifty in PJ State.

Kimisawa also helped reel in the crowds with its combination of supermarket and department stores, something unheard of then.

“[Kimisawa] was a very nice place and people would go there to pass the time. I guess it was new,” says Ng.

One of The Atria’s more colourful tenants was the Picadilly disco, which held afternoon tea dances and saw frequent fighting between rival teenage gangs at night.

Printemps targeted the city’s expatriate community, but it closed after operating for a few years, says Ng.

“Printemps sold imports but they weren’t as popular with local people as foreign goods are now,” he observes.

Kimisawa closed down a few years later, not for want of customers, but due to the 1987 global recession which put the Japanese chain’s local partner Selangor Emporium in financial trouble, says Ng.

Lion Group acquired the mall from See Hoy Chan after the 1998 global downturn and renamed it The Atria Shopping Centre while its subsidiary Parkson replaced Kimisawa as the anchor tenant and restored the lustre of the mall.

In 2001, Lien Hoe bought the mall from Lion Group for RM51.46 million, making it one of the former’s flagship properties along with Hotel Armada in Petaling Jaya and Plaza Lien Hoe.


A local source says Parkson asked Lien Hoe to refurbish the mall, but it lacked the funds to do so.
Lien Hoe did concede that it lacked the resources to refurbish The Atria Shopping Centre and its other prized asset, Kompleks Lien Hoe shopping centre, in a circular to its shareholders to convene an extraordinary general meeting (EGM) in 2007 on the disposal of both properties.


“It is estimated that a total capital investment of RM30 million will be needed to undertake a facelift and refurbishment exercise, which is critical to the continued survival and long-term competitiveness of the two properties. Our board, having regard to the fact that the company lacks financial resources to fund such a massive capital commitment, accepts the proposed disposals as the next best strategy to realise the value of its investment in the two properties,” it said.

As a result, Lien Hoe sold the property to OSK Property Bhd in 2007 for RM75 million. Parkson left the mall shortly after and was replaced by supermarket operator Giant.

A tenant of almost 20 years which operated a clothing boutique in The Atria observed a drop in visitors after Parkson’s departure.

“Maybe it’s because people did not stay, they only went to Giant to get groceries,” she says.
Like other tenants approached by City & Country, she will miss the old mall but admits that The Atria Shopping Centre was past its prime and a redevelopment was in order.

“It’s an ‘auntie’s mall’. Young people didn’t go there anymore. What the mall needed was entertainment ... mayb a cinema, bowling alley, or even a pool centre. Some might say the latter is not so ‘clean’ [might bring social ills], but it needed attractions,” she says.

Some tenants have expressed their desire to return after the mall is completed sometime in late 2013 or early 2014.

Meanwhile, a tenant of one of the shopoffices surrounding The Atria Shopping Centre reminisces: “It was our place to hang out. It was our place to grocery shop, to go to after work, when we were bored. Now it is going to be so boring. Seeing all the tenants leave makes my heart ache.”

Cosy commercial square
The shopoffices around The Atria Shopping Centre also have tales to tell. “There were at least 10 listed companies that got their start here,” says Ng.

These include Road Builder (M) Holdings Bhd (which eventually merged with rival IJM Corp Bhd), Patimas Computers Bhd and Dreamland Holdings Bhd (before it changed its name to Kanzen Bhd).


Some present tenants include Gamuda Bhd and its mass rapid transit (MRT) joint-venture company with MMC Corp Bhd, MMC-Gamuda Joint Venture Sdn Bhd.

The shopoffice area surrounding The Atria was also home to many famous eateries, one of them being a famous Chinese restaurant, which was known not only for its delicious and pricey cuisine but also as a meeting place for the rich and powerful.


Other famous restaurants included a Chinese one from Raub, Pahang. It was eventually sold to Koon Kee, which is well-known for its claypot dishes.

In the 1980s, there was a nightclub called the Orient Express, which was themed after its namesake, the international long-distance coach that was synonymous with the high life and exotic intrigue.

Damansara Jaya was also the first home of The Edge Communications Sdn Bhd. “We were neighbours back then!” Ng recalls with a laugh.

One of the first 7-Eleven shops opened in the area in the 1980s, and Ng helped them look for a suitable shop location. “I dealt with one of their general managers, who was an American. This was before the Berjaya group [owned 7 Eleven Malaysia Sdn Bhd],” he says.

The shopoffices and some of the homes in the area were built by See Hoy Chan. The latter were sold under the build-then-sell model.

According to Ng, even in the 1980s, a 22ft x 75ft 3-storey shopoffice was going for as much as RM555,555.

Most of the shopoffice owners bought at least two units, with Gamuda Bhd owning around five or six units while its subsidiaries Gamuda Land Sdn Bhd and Gamuda Water Sdn Bhd own three and two lots respectively, he says. Ng points out that a number of investors had bought several units and kept them for recurring rental income.

“Back then, most people would not sell their shops. Shopoffices were seen as an investment for one’s old age, unlike now when they are flipped, sometimes even before they are completed,” he says.



This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 872, Aug 22-28, 2011


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Phoeni_142
post Sep 19 2011, 09:10 PM


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this is DJ or DU?
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accetera
post Sep 19 2011, 10:31 PM


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both DJ one and DU one also started... demolition and piling works ongoing...
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Phoeni_142
post Sep 19 2011, 11:18 PM


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meaning is this thread to talk about DU, DJ or both? well, apparently - it's now both.
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jet2020
post Sep 19 2011, 11:21 PM


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QUOTE(Phoeni_142 @ Sep 19 2011, 11:18 PM)
meaning is this thread to talk about DU, DJ or both? well, apparently - it's now both.
*
both oso tai sifu punya hunting cum play grounds ......reigning like Lion King


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Phoeni_142
post Sep 19 2011, 11:23 PM


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QUOTE(jet2020 @ Sep 19 2011, 11:21 PM)
both oso tai sifu punya hunting cum play grounds ......reigning like Lion King
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TNS! Don't say until like that.

i'm not as affluent as tai si fu jet....so can only shoot my peanut gun into 2 areas. brows.gif
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jet2020
post Sep 19 2011, 11:34 PM


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QUOTE(Phoeni_142 @ Sep 19 2011, 11:23 PM)
TNS! Don't say until like that.

i'm not as affluent as tai si fu jet....so can only shoot my peanut gun into 2 areas. brows.gif
*
your peanut gun seems got unlimited bullets....

so this Atria redevelopment can make it huh? I have my doubts over OSK's creativity and innovation...hope i am wrong
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Phoeni_142
post Sep 19 2011, 11:40 PM


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QUOTE(jet2020 @ Sep 19 2011, 11:34 PM)
your peanut gun seems got unlimited bullets....

so this Atria redevelopment can make it huh? I have my doubts over OSK's creativity and innovation...hope i am wrong
*
personally - i hate it.

OSK should stick to what they know best - stockbroking or IB.....even then....i find them so so in that business onli.

if they can make it something as tasteful as BSC, in terms of F&B dominant - think got 50 / 50 chansi lah.

u want to explore whacking one of the commercial DJ lots? that wan got chansi of upside kua.


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beandk
post Sep 20 2011, 12:23 AM


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QUOTE(Phoeni_142 @ Sep 19 2011, 11:40 PM)
personally - i hate it.

OSK should stick to what they know best - stockbroking or IB.....even then....i find them so so in that business onli.

if they can make it something as tasteful as BSC, in terms of F&B dominant - think got 50 / 50 chansi lah.

u want to explore whacking one of the commercial DJ lots? that wan got chansi of upside kua.
*
Very interesting indeed. Let me know if you have any jalan for nice nice lots. wink.gif
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accetera
post Sep 20 2011, 01:28 AM


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both upmarket malls leh... Atria Shopping Gallery and Damansara Uptown Mall

but Uptown will be complemented by Somerset and a super Grade A office tower i think 40 storey wan.. nah...

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Damansara Uptown

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Atria's development will comprise a 5-storey retail podium below two 16-storey office towers


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beandk
post Sep 20 2011, 01:34 AM


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QUOTE(accetera @ Sep 20 2011, 01:28 AM)
both upmarket malls leh... Atria Shopping Gallery and Damansara Uptown Mall

but Uptown will be complemented by Somerset and a super Grade A office tower i think 40 storey wan.. nah...

user posted image
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Damansara Uptown

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Atria's development will comprise a 5-storey retail podium below two 16-storey office towers
*
Can imagine the jam already....
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ManutdGiggs
post Sep 20 2011, 08:55 AM


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any retail unit up for sale in these 2 projects??? No SOHO???
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kenny yew
post Sep 20 2011, 10:24 AM


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when start launch ? All situ ,can buy ah ?
Act I quite confident at pj area..
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HouseDreamer
post Sep 20 2011, 11:59 AM


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Do we need so many offices? Yest read a research from the newspaper, the occupancy rate of offices lot is very low in malaysia.
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yoki
post Sep 20 2011, 01:26 PM


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this is 2 seperate development right, if yes why not seperate the thread, quite confusing also
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accetera
post Sep 21 2011, 02:16 PM


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we will split the thread when the time comes for launching...

currently Atria project has nothing to sell yet and it will not have condo to sell anyway..... for Uptown I think 2 condos will be launched next year..... registration at the website
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konchesky
post Oct 6 2011, 02:50 PM


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heard that it will be launch end of this year.
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redhot
post Dec 19 2011, 11:32 PM


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Damansara Uptown Mix Development by See Hoy Chan / Uptown Residence/Uptown Service Apartment/

This mix-development of about 20acres of FREEHOLD land consist of 2 Tower of Uptown Residence both 30 and 32 storey height, 38 storey Grade A Office (For Leasing Only), 2 storey Retail Mall with 6 storey of Conference Centre (For Leasing Only) and finally a 5 Star 22 storey Hotel managed by The Ascott (Somerset).

2 Towers Of Uptown Residence.

(1)Family Tower (30sty with 206 units)
- Size from 2000sf / 2207sf / 2503sf & penthouse
- Price per sq.ft average from RM 775 psf


(2)Lifestyle Tower (32sty with 174 units)
- Size from 735sf / 877sf & 1040sf
- All come with 1 Bedroom + 1 Study Room
- Fully Furnish except TV and mattress
- Indication price per sq.ft from RM 875psf onwards

Fully furnish except TV & Carpet.

Fully condo facilities include even Squash Court, ½ Basket Ball Court, Badminton Court, Cinema Room & Wellness Centre.
3 Tier Security
Maintainace Fees 0.32 cents include sinking fund
NEW traffic flow orientation on the whole Damansara Uptown which include 2 inwards from ELITE Highway by a underground tunnel to carpark and another from LDP by a flyover
Residence Tower Floor Sequence – Basement 1 & 2 (Carpark), Ground Floor (Facilities + Lobby), Mezzanine Floor (Facilities), 1st to 30th 0r 32th Floor (Service Suites).
Commercial title but under HDA Act

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accetera
post Dec 20 2011, 01:52 AM


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thanks..
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armadasaxon
post Dec 20 2011, 12:04 PM


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uptown already congested like hell..wan make apartment summore?
All the cars will b parking like no one business man
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kelvin667
post Dec 20 2011, 04:34 PM


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QUOTE(redhot @ Dec 20 2011, 11:59 AM)
Maybe I will get some units, pls PM me if anyone interest .
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don't tell me it is another setback like atria where investor club bought lower price and resale out.
it SCH for the matter!!!
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1282009
post Dec 20 2011, 06:20 PM


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QUOTE(redhot @ Dec 20 2011, 11:59 AM)
Maybe I will get some units, pls PM me if anyone interest .
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Am interested. Anyway to register for it?


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yellownblack
post Dec 23 2011, 03:32 PM


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Wow my hometown suburb is changing...I still remember last time when I used to tel my KL friends we stay in DU, ppl like wah why you live so ulu wan.. brows.gif


But the question remain, who will buy all of these properties?? I don't understand the property market in Malaysia, its like they keep building huge projects every couple of years...


I miss the OLD DU.....
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xander83
post Dec 23 2011, 03:46 PM


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i doubt it will sell well anyway

overpriced for the this type development

high density less access doh.gif doh.gif doh.gif
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ginvin
post Dec 24 2011, 03:49 PM


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heard that project will launch next week with increased price.... any taikor can confirm this?
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redhot
post Dec 28 2011, 12:31 AM


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Damansara Uptown Phase 2 / Damansara Uptown Residence

Register your interest with Name & Contact num at redhotsproperty@gmail.com for your priority. Thanks

or

http://www.shcsb.com.my/


This post has been edited by redhot: Dec 29 2011, 07:10 PM


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redhot
post Dec 28 2011, 09:58 PM


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Latest by NWKA Architects http://www.nwka.com.my/


Added on December 31, 2011, 1:40 pmThe official launching will be this coming 10th January for SCH Uptown Phase 2 / Damansara Uptown Residence .

This post has been edited by redhot: Dec 31 2011, 01:40 PM


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the_gsanc
post Jan 4 2012, 12:06 AM


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Atria is sold out within afternoon at the launching day. Few units available now released from bulk purchaser. starting from RM 495000. Same price as the developer selling. pm me for more details.
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accetera
post Aug 10 2013, 10:16 PM


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got 4 cranes... the far left and right corners are almost topout.
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kochin
post Aug 10 2013, 10:24 PM


I just hope I do!
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Wow. That is freaking fast.
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accetera
post Nov 24 2013, 11:33 PM


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Bringing Bangsar to PJ
by liz lee | The StarBiz Week | Saturday November 23, 2013 MYT 12:53:02 PM
http://www.thestar.com.my/Business/Busines...ing-PJ-has.aspx


OSK Property’s plan is to position Atria as a high- end mall similar to Bangsar Shopping Centre and the Gardens Mall which PJ does not have currently

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LOW profile OSK Property Holdings Bhd’s most prominent project is the rejuvenation of Atria mall in Damansara Jaya, Petaling Jaya.

It used to be “the mall to go to” in the 1980s. In March 2007, the group bought the property from property group Lien Hoe Corp Bhd for a cash consideration of RM75mil.

When it launched the 392 units of small office flexible office (SoFo) suites, it was among the most highly-priced high-rise property in that area.

“We launched the SoFo suites in November 2011. It was sold within seven hours,” executive director Ong Ju Xing says of the record-making launch. Sales of the SoFo suites hit RM1,100 per sq ft (psf), the highest on a psf basis.

At the bottom of the twin SoFo towers is a five and a half-storey shopping gallery with a net lettable area of 470,000 sq ft, comprising 250 shops, which will be OSK Property’s source of recurring income.

Announcements to Bursa indicate that OSK Property has acquired two companies Atria Shopping Gallery Sdn Bhd and Atria Parking Management Sdn Bhd to operate the mall which is targeted to open in the third quarter of next year.

“We’ve got strong tenants coming in whom we are unable to disclose at this point. This mall will cater to an untapped market,” says Ong, the younger son of Tan Sri Ong Leong Huat.

OSK Property’s plan is to position the place as a high-end neighbourhood mall similar to Bangsar Shopping Centre and the Gardens Mall which PJ does not have currently.

“Damansara Jaya is one of most affluent residential areas in PJ but Atria lost its lustre as it did not keep up with the times,” Ong says, “Also, new malls came up in the area.”

Ong says the group sees a huge potential in Damansara Jaya as it is a proven site for a neighbourhood mall.

“The population (there) is looking for more high-end and customised products and services.”

The statuesque young man adds: “We would be able to carve out a niche for ourselves in that area.”

Purchasers comprise the older generation who have lived there for decades and new families who have moved into the neighbourhood.

Ong has also noted the substantial hike in property prices in Damansara Jaya.

“Back in 2007, shoplots were transacted at about RM1mil a unit. Now, the same intermediate shoplot is transacting for over RM4mil,” he says.

With the project nearing completion, Ong is hopeful of creating another Bangsar Baru.

“After Bangsar Village I and II came up, a lot of shoplots in the Telawi area underwent a transformation. New retail concepts came in attracting very different sets of clientele,” he says.

On why the group maintains its modest public profile, the media-shy Ong says: “The market is very intelligent. Even when we are low profile, the serious investor or buyer will know about our projects.”

OSK Property does not believe in land-banking either. It attributes that strategy to the umbrella group OSK Holdings Bhd and its conservative approach of allocating resources in nine industries. “We buy land when the area is ready for development.”

“The group’s philosophy is to run a sound company, not risk the business at the expense of growth,” Ong says.

The group’s portfolio includes a mixed development in Shah Alam called Emira and SoFo suites in the business district of Sri Damansara called Opus Suites.

The company will launch Emira’s boutique retail shops and serviced apartments towards the end of this year and in the first quarter of 2014, respectively.

The group did not reveal any plans on Opus Suites, however, other than it would be launched next year.

OSK Property’s other ongoing project includes mixed development Pangaea in Cyberjaya. Phase 3, comprising two condominium blocks called Eclipse Residence, was launched recently.

Phase 4 and 5 comprise a boutique hotel and office, shopping gallery and a street mall. The shopping mall will have 300,000 sq ft of net lettable area.

It has also launched Vale II, a modern-concept low density townhouse development in its nature-inspired township Sutera Damansara. Ong says this is the last parcel of landed property within the township and is by far the best location as it sits on a hilltop.

It is close to 70% sold. Vale I will be completed by the end of next year and Vale II, a year later.

Recently, the group has also gone into industrial property development. These are mainly large scale factories, warehouses and showrooms in Section 22, Shah Alam. The project is called Gravitas.

The group is also planing to build the largest mall in Sg Petani, Kedah within its sprawling 2,582-acre township development named Bandar Puteri Jaya.

OSK Property’s total gross development value is about RM9bil with Pangaea taking up the largest slice at RM3.5bil, Bandar Puteri Jaya at RM2bil followed by Atria at RM1bil.

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CMW123
post Nov 25 2013, 09:57 AM


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“We’ve got strong tenants coming in whom we are unable to disclose at this point. This mall will cater to an untapped market,”

Just keen to know answers to the above 2 questions...who are the strong tenants and what is the untapped market given that there are already many many malls and retail areas within 5 to 15 mins drive...
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Siao_Lang
post Nov 25 2013, 10:40 AM


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QUOTE(CMW123 @ Nov 25 2013, 09:57 AM)
“We’ve got strong tenants coming in whom we are unable to disclose at this point. This mall will cater to an untapped market,”

Just keen to know answers to the above 2 questions...who are the strong tenants and what is the untapped market given that there are already many many malls and retail areas within 5 to 15 mins drive...
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Maybe something like BSC and Bangsar Village....

Or Perhaps something like Starhill? blink.gif

But i think Damansara Jaya also have a huge population of students.. Just wondering if it will work.. If that mall only caters towards the high ends consumer.

Just my 1 cent. icon_rolleyes.gif
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Building.Up
post Nov 25 2013, 12:32 PM


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like the concept of a high-end neighbourhood around this location. rclxms.gif rclxms.gif rclxms.gif
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