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Monday, October 20, 2008

Brisk sale of shop offices at PJCC

PETALING JAYA (PJ), as one of the most vibrant areas in the Klang Valley, has been attracting many investors in the past few decades.

Donovan Chia with a model of the PJCC project

As commercial and residential developments in PJ continue to prosper, a new development - Petaling Jaya Commercial City (PJCC) - has emerged as another potential growth area for property development.

PJCC, which is developed by PJCC Development Sdn Bhd is currently one of the biggest integrated commercial developments in PJ.

The PJCC development is modelled around and viewed as the second MidValley City in the eyes of some investors.

With a gross development value of about RM1bil, the project is slated for completion in eight years.

It is strategically located amid established townships such as Bandar Sunway, Subang Jaya, Kelana Jaya, Taman OUG, Puchong and Bangsar.

The development enjoys high visibility and is directly accessible from the NPE.

It is also easily accessible via a network of established roads such as Old Klang Road, Federal Highway, Lebuhraya Damansara Puchong, Kesas Highway and New Klang Valley Expressway.

The project will comprise three phases and includes shop offices, service apartments, a shopping mall, office tower, hotel and retail centre.

The 13.2ha prime commercial land will also include six acres of landscape greenery and a lake which is open to the public.

PJCC Development sales and marketing manager Donovan Chia said the three-, five- and eight-storey shop offices in Retail City I has been fully taken up.

The company planned to launch PJCC Residence, comprising 194 service suites by year-end, he said, adding that they had a built-up of 635 sq ft and 1,550 sq ft.

Chia said the 21-storey PJCC Promenade service suites was currently open for registration and comprised 208 units with built-up of 868 sq ft to 1,215 sq ft.

“The suites come with a retail podium that consists of 23 shoplots, a multi-storey car park and a basement car park,” he said.

He said the company had just launched the Retail City II development, which comprised three- and eight-storey shop offices and was looking to sell the property en-bloc.

“We have also launched the three-storey PJCC Garden Pavillion, which has 112 retail units,” he said.

He added that the Garden Pavillion was a street mall and expected to attract many youngsters and families once completed.

Chia said the company hoped to mirror the success of MidValley City and had priced its commercial properties at almost half the current selling price MidValley City’s properties.

“We are optimistic on the capital gains potential and rental returns for our properties,” he said.

By The Star (by Lee Kian Seong)

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