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 Da Men @ USJ 1 ( Next to summit ), Discussion of Vesting potential

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ivanpei
post Jan 16 2016, 08:38 AM

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The Canteen is open.
https://m.facebook.com/story.php?story_fbid...212115752159462

Wow looks amazing!
ivanpei
post Jan 16 2016, 09:06 PM

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Went again today with family. More shops opened. Wife commented that the Jaya Grocer here more choices than normal jaya grocer. They carry more imported high end stuff. Sell whole king crab 240???!!!

Quite alot of people on Saturday night. Things are looking good. Eateries business and grocer doing well.


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ivanpei
post Jan 18 2016, 05:18 PM

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Nowadays kids play games on phones or ipad at Starbucks/Coffeebean liaw lar hahaha.
ivanpei
post Jan 18 2016, 05:39 PM

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China smart phone now rm500 can do almost everything d. Not that expensive anymore haha. Almost everyone has one.
ivanpei
post Jan 19 2016, 11:10 AM

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400,000 nla lar bro... That's bigger than Empire Subang.

This post has been edited by ivanpei: Jan 19 2016, 11:11 AM
ivanpei
post Jan 19 2016, 11:23 AM

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400,000 Sq ft nla hahahaha
ivanpei
post Jan 19 2016, 01:15 PM

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They must have written wrongly. You go there walk you know there's no way it's 40k Sq ft nla only.

It's about paradigm kj size.
ivanpei
post Jan 20 2016, 09:22 AM

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Top floor has the "Canteen" cashless food court. 2nd highest floor has Pasarbella. These should provide sufficient draw.
ivanpei
post Jan 20 2016, 11:59 AM

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Sure but it's a bit of a further walk. I tried walking though the back that day to summit carpark too. No issues.

Rm 10 considered expensive? This mall got standard lar bro, lol cheap stuff go Summit please. Cannot afford rm10 meal, Damen not for you.

This post has been edited by ivanpei: Jan 20 2016, 11:59 AM
ivanpei
post Jan 20 2016, 02:57 PM

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Bro Damen is supposed to be a high end mall. Expected lar even Food court is expensive. How else will it differentiate itself from Summit?

People expecting cheap fast food and cheap foodcourt stuff at Damen is unrealistic. Those stuff exists next door lar. Want cheap go kopitiam or summit lor.

This post has been edited by ivanpei: Jan 20 2016, 02:58 PM
ivanpei
post Jan 21 2016, 10:15 AM

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There is no real "foodcourt" here lar. The one on LG are just stalls selling expensive food at expensive prices. The one on 4th floor is the Canteen cashless food court which has stuff like cold pressed juices etc, which I don't expect to be cheap also.

The coffee stall on LG you mean the bus cafe? That's not some kopitiam quality lar, it's probably one of those hipster cafes serving some special coffee with special beans from some special place. Cannot expect to be cheap.

Sorry there's no cheap food in this mall guys. Better go next door to summit.

This post has been edited by ivanpei: Jan 21 2016, 10:17 AM
ivanpei
post Jan 21 2016, 02:53 PM

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Damen is without a doubt a high end mall lar. It needs to differentiate itself from Summit next door which is bigger and has cheaper rental. With refurbishment that is underway, summit can be competition in the midrange market. At the low end range, giant and mydin are also next door. The only option is to go high end. The low and mid end are already extensively catered to in USJ1. Let's just with them luck and see how in a year or two.
ivanpei
post Jan 21 2016, 03:19 PM

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High end for usj lar. Similar standard as Empire SJ. Weekday working hours expected lar kosong. Also the offices upstairs not opened yet. Don't think will have much weekday traffic until the offices are filled. Max capacity will be 1/2 years down the road. In this economy, it will definitely fill slowly.

Upside for this area resi I don't expect that much lar. If it can catch up to SJ ie those near ktm/empire that's pretty good already. Those old condos in that area are 700-800 psf and if USJ 1 can reach that sort of price for subsale I think it's quite reasonable.

Impian meridian subsale is about 600 psf now so 700-800 psf is not unreasonable as a target price. However those who bought Damen at 700 psf expecting 900-1000 psf I think it's abit unreasonable lar. The earlier purchasers who bought about 600 psf can expect reasonable gains but at 700 psf, already bought too expensive imo.

This post has been edited by ivanpei: Jan 21 2016, 03:26 PM
ivanpei
post Jan 21 2016, 03:53 PM

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Yes Damen is new and office traffic not there yet. Good thing it will be self sustaining due to the offices at the actual developement. Now let's see the shop office take up which will be critical. It's a good thing that Damen Mall with the high end tenants locked in has already set the tone for this developement. People looking to rent will be impressed and it should attract better office tenants aka boulevard mid Valley.

It's already looking better than setiawalk. If it can retain its high end tenants and get its offices buzzing, this should be a very promising area. Kalau tak boleh, it will end up something lie setiawalk lar, which isn't too bad but disappointing given Damen's residential price tag. I was initially very high on setiawalk due to its good location and all in one concept. However from the start it was quite disappointing. Very hard to turn around after that. The starting concept and tenant profile very important to snowball success/failure.

So far so good for Damen, let's hope they can keep it up.

Below are some more pictures taken by a blogger. Can get a female point of view on the mall too. Since female shoppers are more important than us guys most likely their view more important.
http://www.ohfishiee.com/2016/01/damen-now...in-usj.html?m=1

This post has been edited by ivanpei: Jan 21 2016, 04:21 PM
ivanpei
post Jan 21 2016, 04:58 PM

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Bro I just uncle blowing water on lowyat only lar. Lol I don't expect anything. I'm vested in USJ 1. I just want the area to do well.
ivanpei
post Jan 23 2016, 04:27 PM

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Pictures from Canteen. For those complaining about no cheap food.


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ivanpei
post Jan 23 2016, 05:04 PM

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New chinese restaurants open for business.

Did not try Canteen food. Was having some other stuff and had coffee at Doi Chang. It's buy 1 free 1 st Doi Chang right now, good deal. Their piccolo latte was very good. The pandan latte tastes abit funny, not my thing. The fried chicken shop on level 4 was quite good but rm9 for a pack of take away fried chicken is quite pricey. Have to agree that the stuff in this mall generally quite expensive.

This post has been edited by ivanpei: Jan 23 2016, 05:06 PM


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ivanpei
post Jan 26 2016, 08:14 AM

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All shouting at sky, but the mall is doing well. I went for some groceries yesterday. Traffic is good. I'm not worried at all. smile.gif
ivanpei
post Jan 26 2016, 08:27 AM

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Correct, even when not fully operational, traffic is already pretty good. That makes it very promising. Upper floors traffic not there yet due to fashion tenants not ready. Lower floor near the restaurants and grocer traffic is pretty good.

Can't wait for Pasarbella to open. Good to have such convenience nearby. If not I'm usually forced to go Empire. Damen is the nearest Jaya Grocer for me since its immediately off Kesas. To go Empire from kesas you need to fight through SJ traffic first.

For the major suburbs along kesas like Puchong and Kota Kemuning, Damen is one of the closest high end mall. Empire will still do well as it serves SJ and potentially out to Shah Alam/Ara Damansara side.

This post has been edited by ivanpei: Jan 26 2016, 08:33 AM
ivanpei
post Jan 26 2016, 08:32 AM

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Ya that's why now got DM very good, no need go Empire liaw. Empire need to fight through SJ traffic from Kesas very sien. DM location is very good. Will be even better once LRT operational especially for the shop offices.

This post has been edited by ivanpei: Jan 26 2016, 08:35 AM

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