Introduction
Golden Triangle of New Petaling Jaya added another lime spot. A project launched by Emkay group related to Hj. Mustapha Kamal (MKLand) located near entrance of Bandar Damansara Perdana. It consists of shop office, service apartments, block commercial offices and Exhibition hall. I remembered when it first launched, the retail shop lots are fully sold within a week after launched. It is like a commercial and entertainment focused spot that intended to extend the entire Damansara area becomes a preferred mixed development and modernized new Petaling Jaya’s image.

Location
Located beside the entrance of Bandar Damansara Perdana and opposite PJ Trade Center, it will be built on an alleviated land having a little eagle view of IKEA, The Curve, IKANO and One Utama.  It is well connected to KL and Mont’ Kiara via Pencala Link and LDP towards SS2, Damansara Jaya, Bangsar and TTDI.  If you were to be able to visit to the site of the project that is currently in progress, I would think we all will not have any objection that this location is a 5 Star location by itself.  It can access to the population of Damansara Perdana, crowds from Bandar Utama and Mutiara Damansara.  If within 5 – 10 minutes, it can includes crowds from TTDI, SS2, Mont’ Kiara, Kepong, Desa Park City, Sri Damansara and counting. No matter it is for office or retail, this location is expected to be a high yield and high return as the entire golden triangle project is to be matured in the next 5 years.

Developer
Paradigma Intan Sdn. Bhd is related to Emkay group by Tan Sri Datuk Hj Mustapha Kamal Abu Bakar. They have a long history in property development and also strong political link at the local front. From Bukit Merah project, Damansara Perdana, Neo @ Cyberjaya, PJ Trade Center to this Neo @ Damansara project, we can consider the developer factor is stable. We believe the project will be successful but we yet to observe the quality of the delivery until we can evaluate more of its completed commercial projects in the future. Also, the entire post arrangement is vital as to the effort of attracting anchor tenants are always important too.

Special
The concept of the project is a little like modernized office with retail shop and alfresco. However, I still think it has lake of a theme.  I am a strong believer of theme cause it can create a unique environment for the project that is always better then just selling shops. The very special of this project that I can consider is probably they are the only commercial area located at the New Golden Triangle of Petaling Jaya that is for sale. Both One Utama and Mutiara Damansara formed commercial and shopping areas are nothing for sale. Thus, it will be very hot and vital since it is the only area offered for sale.

Secondly, many may not know that recently there are a lot of Koreans are moving into Damansara Perdana. Though it is not the only foreign nation, it is representing a huge portion of the total foreigners in this area. Also, an unconfirmed source said, the service apartment may be by en-block sell to a Korean property company. No matter what is the foreign nation, the retail price here will definitely shoot up if with substantial foreign population are continue to flow in

Against
I have no serious against for this project and only can point to traffic jam at this area. May be, more need to be done in order to smoothen the traffic in this area as beside Neo @ Damansara is also Ritze Perdana 2 and PJ Trade Center. The impact of population per sm is very high. Thus, real practical parking lots can be a challenge in order to offer a nice working and shopping retail environment.

Conclusion
With an average of around RM 300 plus for office and RM 800 plus for retail lots per sf, the upside potential is tremendous. If you compare to shops that already fully occupied at Damansara Perdana. Current retail is already asking around RM 1,100 plus per sf. We recommend a buy call as the rental yield is expected to be around 8% and the capital growth per year is estimated around 15% to 20% until the entire area mature.