‘High return potential in new township projects’
Published on: Friday, May 06, 2022
Susan (fourth from left) briefing Foo (third from right), Tan (third from left) and the SME Sabah Council members on the Parklane City masterplan.
PAPAR: Property investors ought to consider projects with high return on investment (ROI) potential in areas beyond Kota Kinabalu, said Small and Medium Enterprise Association of Sabah (SME Sabah) President Prof. Foo Ngee Kee.He said Kota Kinabalu is regarded as the best location for property investment in Sabah, but real estate in the State Capital are the most expensive.
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In comparison, he said, properties in Papar have the potential to yield high ROI with low investment cost.
Foo said this when leading a 30-member delegation comprising SME Sabah Council leaders and members to visit Benoni Commercial Centre to learn more about WSG Group’s Parklane City and Parklane Villa projects. Also present was SME Sabah Deputy President Datuk Tan Kai Teck.
He said retail stores would gradually shift to new townships in Papar because new developments will have shops, grocery, leisure and entertainment outlets, and other amenities that attract customers.
“This is happening in many old towns in West Malaysia, such as Ipoh where the businesses are moving to new townships.”
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Hence, Foo praised WSG Group Managing Director Datuk Susan Wong Siew Guen for having the vision to purchase 100 acres in Benoni, Papar in 2010.
Over the past 12 years, the company has completed Benoni Commercial Centre and Benoni Gardens on 40 acres. At present, the WSG Group is building 24 units of three-storey shop lots and 64 units of two-storey shop lots at Parklane City, as well as 180 units of Parklane Villa double-storey terrace houses on the remaining 60 acres.
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Foo believed that the solid foundation the company has built over the last decade in Papar would enable the company to achieve success in its Parklane City projects.
He said property investors should consider not only location but also potential ROI of real estate.
“Kota Kinabalu is the best, but it is also the most expensive in terms of property investment. In comparison, investing in Papar has the potential to yield high returns with lower investment costs and lower risks.”
Besides, Foo said, buyers have the option to pick and choose the properties they want in a new township rather than settle for what is available.
He said Benoni and Parklane City townships are worth investing as their potentials have not been fully exploited yet.
He pointed out that early purchase of the properties would bring favourable returns when the project has obtained the occupancy certificate (OC).
“With the increasing building costs, new properties are not going to be cheaper.”
Foo also offered to reach out to colleges to woo them to establish a branch at Parklane City.
SME Sabah also appointed Susan as honorary advisor.
Meanwhile, Susan urged SME Sabah to encourage more SMEs to set up shops in Papar to spur the local economy.
She said many SMEs are expanding to the outskirts in recent years and Papar has great potential due to its strategic location.
She said Benoni is located along the Pan Borneo Highway that connects Sabah to Sarawak and Brunei.
“The extensive road network provides access to the interior districts such as Keningau, Tenom and Nabawan to the east; Beaufort, Sipitang, Lawas and Limbang, Sarawak and Brunei to the south; and Kota Kinabalu International Airport (KKIA) and the State Capital to the north.”
She said the Benoni Commercial Centre has attracted many international, national and local brands such as KFC, Pizza Hut, Tealive, U Tea, Osbel, Multi-Bake, Servay Hypermarket, Mr DIY, as well as hardware shops, coffee shops, restaurants and grocery stores.
Construction is currently in full swing for 24 units of three-storey shop lots and 64 units of two-storey shop lots at Parklane City. The three-storey shop lots are expected to obtain the OC by December this year and the two-storey shop lots by June 2023.
Priced at RM1.35 million onwards for intermediate units, the three-storey shop lots facing Papar Spur Road have a built-up area of 4,000 square feet (sq ft) onwards.
Meanwhile, the two-storey shop lots, priced from RM950,000 onward, have a total built-up area of 2,550 sq ft-1,250 sq ft on the ground floor and 1,300 sq ft on the first floor for intermediate units.
By end of this year, the company will commence construction of Servay Hypermarket and McDonald’s drive-thru at Parklane City.
On the other hand, Parklane Villa comprises 180 units of double-storey terrace houses priced from RM490,000 onwards and the OC is expected to be obtained between June and December next year.
To date, the company has sold 65 per cent of Phase 1 (90 units) and 50 per cent of Phase 2 (90 units) of Parklane Villa.
Parklane Villa offers four bedrooms and three bathrooms for intermediate units, and an additional bathroom for corner units. Built-up area of the intermediate and corner units are 2,460 sq ft and 3,420 sq ft respectively. A notable aspect about the terrace homes is the stainless steel staircase railing that elevates the overall design of the house.
Aside from the spacious layout, the 20-foot width car porch area can park up to three cars, said Susan, adding both Parklane City and Parklane Villa are under 999-year lease.
“Parklane Villa is located right at the centre of Parklane City. The landed terrace homes are certainly going to appreciate in value in the future.”
Another project in the pipeline is the construction of four condominium towers at 19 storeys high, with a total of 656 units, at Parklane City. Each condominium has 160 units with a built-up area of 1,000 sq ft, as well as four penthouses.
Susan said the WSG Group is planning to have a cinema and a medical centre at Parklane City as well.
“The cinema is in the pipeline. My mother will be the first customer once it opens.”
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