Pacific Place Site Visit, Citta Mall

After 1 years since I bought this property, I yet to receive any progressing billing from the developer, since signed the S&P end last year. This doesn't look right. Decided to visit the site to check out the progress of this project. Below are some photo capture today.

Good news is, there are people working on the site, means the project is not abandon yet :)

Bad news is, the progress is very slow, look like the developer still at land clearing stage, look like the project may delay..

When I drove around this area, notice that The Citta Mall already open for business. So far only few shops open for business. I do hope the Citta Mall management really able to turn this shopping mall into "US Outlets" concept as they claimed.

http://wickinv.blogspot.com/2010/07/citta-mall-ara-damansara.html

New Medical Centre @ Ara Damansara

Tuesday, July 27, 2010


Sime Darby's new medical centre opens 2011

Sime Darby Healthcare is expected to invest RM250 million for the Sime Darby Medical Centre in Ara Damansara, Kuala Lumpur, which is anticipated to be opened next year.

In a statement today, Sime Darby Healthcare said plans are being drawn up to fit out and equip the centre with specialised facilities and services for the treatment and management of heart, neuro, spine and joint diseases.

It said the new 220-bed medical centre, will be the third medical facility established under the group, after the flagship Sime Darby Medical Centre in Subang Jaya and Sime Darby Specialist Centre Megah in Petaling Jaya.

Tan Sri Dr Wan Zahid Mohd Noordin, a Sime Darby board member who oversees Sime Darby Healthcare said the medical centre will focus on quality, safety and continuous improvement, especially in areas that most directly impact patient care.

The neuroscience unit in Ara Damansara will feature a comprehensive epilepsy management programme that includes an electroencephalogram or EEG studies laboratory and state-of-the-art equipment for early diagnostic and treatment capabilities.

The centre will also have a fully-equipped and state-of-the-art rehabilitation facility including a specialised Stroke Care Unit, hydrotherapy, occupational therapy, audiometry, musculoskeletal rehabilitation using wax and splints and a Child Development Centre with Snoezelen and speech therapy.

Snoezelen or controlled multi-sensory stimulation is used for patients with autism, intellectual or mental disabilities, post-traumatic stress disorders or brain injury.

The hospital will also be installing a new Hospital Management Information System that will allow, amongst others, central appointment bookings and management of patients' health records in a seamless manner across all the Sime Darby medical facilities.

Citta Mall @ Ara Damansara

Another shopping mall to be launch at Ara Damansara - Citta Mall, and it claimed it is not just a mall. Sound interesting, see below:

Statement from the developer, Puncak Dana:

"We are building something that bridges the gap between a shopping centre and shophouses. It is managed like a shopping centre but with the convenience of a shophouse"

"With Citta, the emphasis is on convenience. The anchor tenant is the car park. In a strip mall, all shops front the car park to allow customers to just park and walk in. You can just park at a carpark bay nearest to the shop you are interested in and walk in"

For further info, you may visit here.

Pacific Place @ Ara Damansara

New service apartment launched last weekend. Publish in thestar newspaper. Decided to visit there after family outing.


First impression: Crowded, and seem like everyone is in buying mode

Second impression: Old fashion design

Location: Ara Damansara. Been to this area few times, is not happenning now.

And this is leasedhold property, left 94 years, and is commercial property. The sales agent claim that the developer will renew it to 99 years upon completion.

Initially quite concern about commercial land, worry it might not protected by HDA, and dunno what the developer going to put into S&P, which I hardly read or understand... But heard that nowaday service apartment is under the radar of HDA with standard S&P already...pending verification...

The developer is riding on low entry cost (10% discount) and the LRT factor (http://www.lrtextension.com/), which is right next to this apartment, ready by 2012?

Approximately 200 units per block, total have 6 blocks, mean in total that would have close to 1200 units !!!! Can't imagine the market competition once completed... Good news is every block have it's own facility at rooftop. Security wise look ok, card system for car, and card access in lift.

Have few layout, quite like the 1200sf++/1300sf++ unit, have dual entrance which can rent out the unit to two different tenant. But I choose to invest in smallest unit 864sft. Why? Lower entry cost, lower risk. Cause this developer quite new in property business, and worry whether it can execute as it plan.

The next worry I have is Proposed College. Have bad experience purchase condo near to college, good for condo but not good for capital appreciation, will post another article on this later. ==> Click here to view

And look at the condo design and broshure, give me impression this developer abit china apek, very old fashion and not creative in marketing this condo.

Another plus point can see is this apartment can riding on Sime Darly, if only Sime Darby success in Ara Damansara. Seem like this MNC have big plan here....

For 864sft, the expected installment is RM1500 per mth, for 30 years loan. Let's say maintenance fee + etc = RM200 per month, need to rent this 2 rooms unit at RM1700 to break even..possible to rent it at RM1700 in year 2013? Doubt so... ==> Rental based investment not so good...

With purchase price of RM300,000, equivalent RM340 psf, I need to sell it at RM400psf to break even, in year 2013. To make profit, let's say RM50k, I need to sell it at RM450psf @ RM388,800 in year 2013, for bare unit, possible? Depends I guess, depends on success of Sime Darby Oasis, depends on success of Citta Mall, and depends on LRT as well as Pacific Place shopping mall... If all this factor in, then possible to achieve RM450-RM500psf ? Hope so...

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