A new integrated development is coming up within the affluent township of Damansara Heights. GuocoLand (Malaysia) Bhd’s managing director Yeow Wai Siaw reveals details about the company’s flagship project.

Damansara City is an integrated development that will encompass a unique business, residential cum retail component. Located within the vibrant and upscale enclave of Damansara Heights, the flagship project of GuocoLand Malaysia has an estimated gross development value (GDV) of about RM2.5 billion.

The development will have a total built-up area of over 200,000 sqm spanning across 3.44ha of prime, freehold land. It will entail the proposed developments of two Grade A office towers, a lifestyle mall, an international-class business hotel and two luxury condominium towers.

Damansara City is the recipient of a 5-star award in the Residential High-Rise category and a highly commended award in the Retail Development category at the prestigious Asia Pacific Property Awards 2012.

This award-winning development has been identified as an important Entry Point Project under the Economic Transformation Programme, and would play a pivotal role in the country's economic development and contribute towards the expansion of Greater Kuala Lumpur.

iProperty.com: What is the response like for Damansara City?
Yeow Wai Siaw: If I had to pick one word to describe it, it would be – GREAT. To date, we have received well over 800 enquiries, both through phone calls and emails, even though we have not launched the project yet.

We foresee that the response will increase after we have gone full swing with the private preview sessions. Given Damansara City’s excellent value proposition, its strategic location and compelling features, I believe the response for the project, including the residential towers, will be great.

iP: What are the special features that deserve mention about the development?
Yeow: We will be launching the residential towers, comprising a total of 370 units, by the end of the year. All units come with luxurious and branded fittings and fixtures such as Poggen Pohl kitchen cabinets, Catalano sanitary wares, GessiEmporio Armani Range fittings and high-end household appliances such as Miele, De Dietrich and Bosch.

Other top-notch facilities include an Olympic-size salt water infinity lap pool, children’s wading pool, aqua massage area, gymnasium, aqua gymnasium, sauna and steam, children’s play area, childcare area, barbeque area, function room, private dining rooms and multipurpose rooms. There will also be a mini theater, a games room, a landscaped garden, driver’s room, a garage car park for exclusive units, and Wi-Fi at the podium level.

The construction of Damansara City started about a year ago and is progressing according to schedule. The development is expected to be ready by 2015. We have just completed the construction of the Damansara City sales gallery, measuring a massive 4,700 sq ft, which includes a fully furnished show unit. As such, we will open it for private preview sessions very soon.

iP: What are some of the ‘green’ features that will be incorporated?
Yeow: Damansara City will be integrated with an array of green features and advanced eco-technology. The development will conform to the criteria set by Leadership in Energy and Environmental Design (LEED) and the Green Building Index (GBI) to achieve energy efficiency.

The project will feature the latest energy efficient fittings and equipment, as well as green-labelled materials. Other eco-friendly measures include the use of LED lightings for the car park, driveway and drop-off areas; water efficient sanitary wares; the installation of motion sensor lightings in the public areas; and a water harvesting system to accumulate and store rainwater for landscaping purposes.

iP: What makes Damansara City so unique?
Yeow: The development is truly one-of-a-kind with its aesthetic architecture features as well as overall look and feel. The lifestyle mall is the crown jewel of Damansara City, and will offer a new experience in dining, entertainment and shopping in Damansara Heights.

Unlike conventional shopping complexes, the mall will introduce a unique open street retail concept with alfresco dining along the walkways and enclosed type retail space. We have engaged CB Richard Ellis, a renowned retail consultant, to get us the right tenant mix.

Another key feature of the project lies in its seamless integration. Public transport commuters would be delighted with the convenience offered by the proposed MRT station that will be built right at the doorstep of Damansara City.

The development is easily accessible with the excellent road infrastructure that includes the SPRINT highway, New Pantai Expressway, the nearby Federal Highway and the Penchala Link.

To ensure free flowing traffic within Damansara City’s surrounding area, we will build 6 ingress and egress points. There will be 4 ingress points to serve traffic coming from the SPRINT Highway, Bangsar or Kuala Lumpur, and 2 egress points for those who are heading to Kuala Lumpur or towards Petaling Jaya or Damansara.

iP: What is the property market outlook like for the rest of the year and going into the next year?
Yeow: The scenario, at least for the next 6 months, is likely to remain unchanged. The property market is expected to experience a slower growth and demand will continue to be selective with a general preference for landed and affordable homes. Properties in preferred and choice locations, however, are expected to remain stable.

Rising costs of building materials, I must add, is an area of great concern. The recent price increase for cement will have a chain effect on cement related building materials. In addition, labour costs and transportation have also increased lately. Naturally, all these factors will have an impact on the prices of new property launches, so a price hike is inevitable.