Bandar Ainsdale project in Seremban to kick off affordable housing scheme

(Published in the Star BizWeek 10th December 2011 issue: page 26)

By THEAN LEE CHENG 

SIME Darby Property Bhd will be offering affordable housing in the coming years as a stategic component in their up-and-coming townships in line with market needs and to complement the government’s affordable-housing scheme.

In his first press statement since he took over as managing director, Datuk Abdul Wahab Maskan says they have already identified areas in their townships for PR1MA housing, also known as 1Malaysia Housing Programme. Their first township to kick off affordable housing will be Bandar Ainsdale in Seremban.

Wahab, who is also Sime Darby Bhd group chief operating officer, assumed the position at the property division from Tunku Datuk Badlishah Tunku Annuar in June. Wahab is also Sime Darby group chief operating officer.

There are several reasons why Sime’s contribution to affordable housing will begin at Bandar Ainsdale. 

First, Bandar Ainsdale is a new 550-acre township that will be launched at the end of this year and it will be viable to begin social housing with a clean slate. Ainsdale will comprise residential and commercial segments. Over and above that, the focal point of that township will be its integrated public transportation component with a KTM station to be its public transportation terminal. This will add to Bandar Ainsdale’s accessibility, which will be a much needed infrastructure in any affordable housing scheme.

Other areas that will subsequently offer affordable housing include Ara Damansara in Petaling Jaya near Subang Airport, Bandar Bukit Raja in Klang, Putra Heights in Subang Jaya, Kota Elmina in Sungai Buloh, Elmina West in Shah Alam and Lagong Mas in Rawang, Selangor.

Earlier, it was reported that the Economic Planning Unit (EPU) would focus on three projects comprising the first PR1MA scheme to be offered by the government in Presint 11, Putrajaya, Bandar Ainsdale in Seremban and Bandar Tun Razak in Cheras this year.

EPU deputy director-general Datuk Mat Noor Nawi said about 4,000 units will be offered in this first batch of PR1MA housing with the development in Presint 11 to provide 560 apartment units while the other two developments will consist of a mix of landed and high-rise and apartment units for the Bandar Ainsdale in Seremban and Bandar Tun Razak projects respectively.

Other than affordable housing, Sime also plans to launch more than RM2bil worth of properties from the third quarter of this year to the end of its 2012 financial year which closes at the end of June. Wahab says they are en route to achieving this target.

The division recently launched Isola, a 216-unit serviced condominium in Subang Jaya, Selangor which has a gross development value of more than RM210 mil, which was 75% sold on its first day itself.

“This is a clear reflection that residential properties in prime areas are still very much in demand and we are optimistic. The residential property segment is expected to remain positive this year, especially in the main areas of growth such as the Klang Valley and other urban centres. Similarly, shop houses will also remain attractive to buyers and investors, especially if they are located in high growth areas,” he says.

Launches targeted till the end of this year include link houses (about 271 units), shop offices (about 61 units), condominium/serviced apartments (about 966 units), bungalows (about 71 units) and commercial units (about 171 units) in Denai Alam, Nilai Impian and Bandar Bukit Raja.

To date, it has successfully launched Maple Terrace in Denai Alam, Avalon 1 and Avalon 11 in USJ Heights, Davina 111 and Iluna in Nilai Impian. These properties are worth more than RM320mil collectively, the statement says.

They will have seven launches for the first six months of next year, or 3,848 units of condominiums, industrial properties, mixed development and bungalows. Next year’s launches include a mixed development with 35 units in Ara Damansara, 554 units of villas and condominiums in Putra Heights in Subang Jaya, 231 units of mixed development in Bandar Bukit Raja in Klang and about 90 units of industrial properties in Elmina East in Shah Alam. Other launches slated for next year include about 1,000 units of mixed development in Denai Alam, Shah Alam, 540 units of bungalows and condominium-cum-villas in Bukit Jelutong in Shah Alam and about 1,400 units of mixed development in Melawati in Ulu Kelang.

Subsequent to the success of Sime Darby Property’s Oasis Square in Ara Damansara, where Sime Darby Property and Sime Darby Plantation’s corporate head offices have been re-located to, the next commercial development in the Ara Damansara township will be Oasis Corporate Park. That mixed-commercial development will see its first 340 units of flexi-office suites with 620 sq ft of office space each, launched early next year.

The presence of these two corporate HQs will generate a sizeable retail market for the area. Together with Oasis Corporate Park, the company expects Ara Damansara to be a popular suburb in time to come.

“Development in Ara Damansara is about 85% completed. Residential properties in Ara Damansara have recorded an average price growth of about 100% in five years. This translates into a yearly average growth of 13.7% compounded.” (Source: Jones Lang Wootton research). Together with the 9.8 acres of Oasis Corporate Park development, that township will eventually have a mix of corporate offices, serviced suites, a hotel and a convention centre.

Upcoming developments in Ara Damansara include Senada Condo Villa, an 18-unit project with an estimated selling price of around RM3.8 million per unit with built-up of the units ranging from 7,080 to 7,500 sq ft, which is scheduled to be launched in the second quarter of next year. The other project is Community Square, a commercial hub and low rise centre that focuses on offering convenience to the Ara Damansara community. This community square is also anticipated to provide added value in terms of commercial value to the community.