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Continue Reading ⋅ 30 January 2023
Among the biggest developments in Bukit Jalil is the Bukit Jalil City mixed development. This 50-acre development is a collaboration between Malton and Pavilion Kuala Lumpur. It has an estimated gross development value (GDV) of RM4 billion, and will feature residential, commercial, office and retail components. Launched in 2015, the project is expected to be fully completed in 2021.
The project has 5 major components:
- Pavilion Bukit Jalil shopping mall – net lettable area of 1.8 million sq ft
- Signature Shop Offices – 112 units
- The Park Sky Residence – 1,098 serviced apartment units
- Park Point Shop Office
- The Park 2 – 709 units of serviced apartments
Pavilion Kuala Lumpur retail chief executive officer Datuk Joyce Yap expects Pavilion Bukit Jalil City mall to achieve retail sales turnover of RM1.7 billion in the first 12 months of operation. Pavilion Bukit Jalil is slated to open its doors in May 2021. Pavilion Bukit Jalil will be the largest shopping mall within a 10km radius, and it is expected to be the next shopping paradise as it is 30-35% larger than the existing Pavilion Kuala Lumpur.
As at end 2019, the confirmed anchor tenants of the new mall are Parkson, Food Republic, The Food Merchant, Harvey Norman superstore, Pavilion Bukit Jalil ice rink, and China’s second largest cinema chain; Dadi Cinema. The mall will be managed by Pavilion Kuala Lumpur, which is also managing Malton’s Pavilion Kuala Lumpur mall in Jalan Bukit Bintang.
Once completed, the mall and the offices will provide thousands of employment opportunities, and Bukit Jalil’s population is projected to increase by about 24.2% to 464,300, while employment is projected to increase by about 51.6% to 273,121, from 2000.
The freehold Pavilion 2 Signature Shop Offices was completed in 2019.
Address: Persiaran Jalil Utama, Bukit Jalil City, 57000 Kuala Lumpur
Property Type: Signature Shop Office
Land Title: Commercial
Total Units: 112
Tenure: Freehold
Year of Completion: 2019
Built-up Area: Approximately 1,525 sq ft – 8,800 sq ft
Facilities:
- Business centre
- Mini market
- Salon
- Parking
- 24-hour security
Launch Price: N/A
Project Details
There are 112 units within the 3-storey Signature Shop Offices at Bukit Jalil City. This project was the first phase in the Bukit Jalil City development, and it was completed in 2019. Some of these shops front the main roads leading into Pavilion Bukit Jalil and Bukit Jalil City.
Approximate unit sizes that are listed in PropertyGuru are as follows:
- 1,525 sq ft
- 1,656 sq ft
- 1,680 sq ft
- 2,098 sq ft
- 2,400 sq ft
- 2,800 sq ft
- 2,940 sq ft
- 4,575 sq ft
- 8,000 sq ft
- 8,800 sq ft
The signature shop office is expected to complement the shopping mall and various serviced apartments in Bukit Jalil City. The shop lots are designed to feature half-covered walkway, higher visibility, and maximise opportunities for communal and commercial activities spilling over from the neighbouring developments.
The welfare of pedestrians are taken into consideration during its design planning, as a central boulevard is designed to be closed off for pedestrians during special events. The front side walkway is also linked to a central green area between the shop office blocks.
Additionally, the full-height glazed windows and aluminium give the façade its distinctive look, paired with the glass skylight that provides some shelter for pedestrians. The rectangular composition and vertical lines also lends an orderly and uniform look for the signature shop offices.
Location
Bukit Jalil is located at the south of Kuala Lumpur, with access to nearby towns such as Bandar Kinrara, Puchong, Sedang, Sri Petaling, Sunway, and Subang Jaya within 10 minutes. It takes about 35 minutes to get to north of Kuala Lumpur City, and 50 minutes to KLIA.
Its strategic location of being at the border of 2 states means that developments such as Bukit Jalil City enjoy easy access via major highways and expressways. Other main public transportations include Rapid KL Bus and LRT services via Awan Besar station.
There’s Shah Alam Expressway (KESAS), Bukit Jalil Highway (Federal Route 217), Damansara-Puchong Expressway (LDP), and Maju Expressway (MEX). These routes put Pavilion 2 Signature Shop Offices central to well, almost everywhere. The Muhibbah LRT station is about 600m away, which is somewhat walkable (and also depends on who you ask!).
Pavilion 2 Signature Shop Offices is opposite The Earth Bukit Jalil shop lots. It was developed by WZR Group, and there are about 46 units. It was completed in 2014. There is a pedestrian bridge that connects this development to Pavilion Bukit Jalil.
Nearby amenities and facilities include the Bukit Jalil National Sports Complex, 80-acre Bukit Jalil Recreational Park, Bukit Jalil Golf & Country Resort, Medical University, SJK (C) Lai Meng school, Giant hypermarket, SIRIM centre, Calvary Convention Centre, and ASTRO hub.
Accessibility
- Shah Alam Expressway (KESAS)
- Bukit Jalil Highway (Federal Route 217)
- Damansara-Puchong Expressway (LDP)
- Maju Expressway (MEX)
- Kuala Lumpur-Seremban Expressway
- Muhibbah LRT station
- Awan Besar LRT station
Education
- International Medical University (IMU)
- Asia Pacific University College of Technology and Innovation (APU)
- Asia Pacific Institute of Information Technology
- SJKC Lai Meng
- Lai Meng Kindergarten
- Technology Park Malaysia College (TPM)
- Bukit Jalil Sports School
- Sekolah Kebangsaan Bukit Jalil
Medical Care
- Beacon Hospital
- Sunway Medical Centre
Shopping
- Pavillion Bukit Jalil
- Plaza OUG
- Endah Parade
- IOI Mall, Puchong
- Sunway Pyramid
- Giant Hypermarket, Bandar Kinrara
Recreation
- Bukit Jalil Recreational Park
- Bukit Komanwel Recreational Park
- Bukit Jalil Golf & Country Club
Analysis
Bukit Jalil is seen as a growth area in the south of Kuala Lumpur. It has several things going for it – the population is growing, and it is well-connected by major roads and highways, with several public transportation options.
Bukit Jalil is also home to Technology Park Malaysia (TPM), Astro, Bukit Jalil Golf & Country Resort, the International Medical University (IMU), and the Asia Pacific University of Technology & Innovation. One of the key attractions in Bukit Jalil is still the National Sports Complex (NSC).
After the Commonwealth Games in 1998, the NSC started to deteriorate. In 2015, Malaysian Resources Corp Bhd (MRCB) was awarded a RM1.6 billion contract to refurbish the NSC and transform it into the new KL Sports City.
MRCB completed phase one in time to host the 2017 Southeast Asian (SEA) Games. It involved refurbishing, renovating and upgrading the National Stadium, Putra Stadium (renamed to Axiata Arena), the hockey stadium, and the aquatic centre.
With the rejuvenation of NSC, there has been more interest in Bukit Jalil from property buyers, investors, retailers, multinational companies, and businesses, in general. As for Bukit Jalil City, the developer undertook extensive research within the Bukit Jalil community to make sure that development would appeal to the broad catchment.
Available listings in PropertyGuru in February 2021 show that the asking monthly rental for 4,575 sq ft units are about RM23,000, while purchase prices are asking from RM5.1 million to RM7.5 million.
For units purchased at RM5.5 million, the gross rental yield would be 5.01% per annum.
Here’s a quick look at commercial properties in Bukit Jalil.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Prices in 2021 |
|
Pavilion 2 Signature Shop Office by Malton Berhad |
Freehold |
Shop Office |
2019 |
Approx. 1,525 sq ft – 8,800 sq ft |
From RM5.1 million |
|
The Earth Bukit Jalil by WZR Group |
Freehold |
Shop Office |
2014 |
5,858 sq ft – 6,720 sq ft |
From RM2.6 million |
|
Aurora Place by Bukit Jalil Development Sdn Bhd (Ho Hup Group) |
Freehold |
Shop Office |
2016 |
993 sq ft – 10,948 sq ft |
From RM1.8 million |
|
Aurora Sovo by Bukit Jalil Development Sdn Bhd (Ho Hup Group) |
Freehold |
SoVo |
2017 |
377 sq ft –1,304 sq ft |
From RM380,000 |
|
Aked Esplanad |
Freehold |
Shop lots |
N/A |
From 4,680 sq ft |
From RM2.8 million |
Summary
In general, most are optimistic about the prospects of Bukit Jalil. More purpose-built office and hotel developments are expected to sprout in Bukit Jalil upon the completion of Bukit Jalil City and Pavilion Bukit Jalil, as has been the case with Pavilion at Bukit Bintang.
There is steady growth in Bukit Jalil. The area has around for a long time, but in the last decade, more people started to pay attention to Bukit Jalil as they are attracted by the golf course, the 80-acre green lung that is already there, and the new Pavillion Bukit Jalil mall that is scheduled for completion in 2021.
Today, Bukit Jalil is a city on its own. It has everything including schools, universities, medical centres, shopping mall, retail, office towers, landed properties, apartments, a golf course, sports hub, and recreational park.
A quick look at Pavilion 2 Signature Shop Offices via Google Maps show that there are still many empty lots, but it’s encouraging to see that there are also quite a few businesses setting up shop there.
Here are estimated loan figures for a 4,575 sq ft Pavilion 2 Signature Shop Office unit priced at RM5.1 million.
- LTV / margin of finance: 80%
- Down payment (20%): RM1.02 million
- Loan amount: RM4.08 million
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM17,645
These calculations are based on the PropertyGuru Home Loan Calculator, as well as PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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