PJ Trade Centre, Damansara Perdana by Tujuan Gemilang Sdn Bhd
by JP
20 Nov 2007

Introduction
PJ Trade Centre, a new commercial project that is on going at Damansara Perdana with the concept of "The Malaysian Paradigm". Started 2 years ago and now closing to be 100% fully sold out with major tenant like Lembaga Hasil Tanah Negara of Petaling Jaya taken a full whole block. New and lifestyle Grade A design featured office in the city added new alternative to corporate players in this region. Overall has 4 Towers in total come with many modern designs and facilities like swimming pool, gym and sauna. Most important to me is the natural feel that it has a localized "Batik" identity as the skin of the building.

Location
Situated at the entrance of Damansara Perdana which is part of the new golden triangle, it has all the major access via LDP, Pencala Link, NKVE Expressways and a potential LRT transit cross the opposite area in the future.

It is also neighbor with One Utama, The Curve, Ikano Power Center and Ikea. Couple with many new modern retails projects opposite PJ Trade Centre project site like Neo@Damansara. It has the best in term of access and leisure in balanced.

In term of workforce resources, Damansara area are saturated with knowledge oriented workforce across the entire Golden Triangle and near by townships like Taman Tun, Kepong, SS2 and Mon't Kiara.

Location wise, PJ Trade Centre stand a superb strategic position and we believe when more retail, commercial and residence projects are to be developed in this area. This key factor will drive the value of the property further.

Developer
Tujuan Gemilang Sdn Bhd is the developer of PJ Trade Centre at Damansara Perdana. Many may not heard from this developer but it is not new but inherited by well-known MKLand key forces few years back. It is also related to Emkay group of Tan Sri Mustapha Kamal Abu Bakar and its son AK - Haji Ahmad Khalif bin Tan Sri Mustapha Kamal. A well known property players as COO - Mr. Peter Chan that have created many lifestyle concept of Condos at Damansara Perdana. With its heavyweight support and professional workforces, PJ Trade Centre will be a bright future star because of its combination of Politics, Professional and Strategic location.

Special
I particularly like the keywords of "The Malaysia Paradigm" as it means a mixture of modern design and localized cultures. The main features like only 1 to 4 units per floor, Specially designed water features for aesthetics and sound complement in the central plaza; Glass lanterns with 9 meters headroom act as main lobbies and give a sense of prestige and progressiveness; 12 Sky Terraces located with hanging vines and wall creepers; Open-to-sky washrooms and most important "Batik" as a skin to house the entire design of the building.

With localized special features, with strategic location, with a limited Grade A office's features and its facilities in Petaling Jaya. It will be a high yield and high return property project that is rarely seen in the development of Petaling Jaya.

Against
The only disadvantage as of today that it can be a challenge is the execution. Being understood the current structural change of MKLand and Emkay. Together with the history of all major key staff forces are from MKLand, I hope the project will be executed professionally and ready for post sales maintenance. As to be a Grade A office, I think beside of features, post sales management carry a very high impact to customers and of course to the future values of the property. I hope more positive answers are going to be heard soon.

Conclusion
From a mere RM 350 - RM 450 per sf last two years ago, probably when the time of completion will raise the target to around RM 500 - RM 600 per sf. As if everything goes right, the rental yield should fetch around RM 5.00 per sf in compare to grade A offices at uptown and Damansara Heights together factoring 2008 and 2009 inflation pressures from cost of building materials. I issue a buy call if there are still any left units available and even targeting the yield to be around 12-15% based on the current selling price and at least 30% growth of capital till 2010. Good job done PJ Trade Centre and hope to see a new modernized and localized commercial office added to PJ skyline.