Sg. Penchala Development

Through this development, Ever Land & Development Sdn Bhd strives to build high quality affordable homes that come with modern lifestyle comforts such as a swimming pool, gymnasium, sky lounge, co-working space, contactless delivery bay as well as round-the-clock security. This type of development is highly sought after by Malay buyers and investors alike due to its strategic location in close proximity to the established TTDI/Damansara neighbourhoods, which yields high investment returns. It is also the kind of home that is ideal for young couples desiring to start a family.

The development caters especially to Malays and comprises 1,075 units with built-up areas ranging from 800 to 1,000 sqft and 2 parking bays allocated to each unit. The selling price of the units is between RM300,000 and RM450,000, which is considered highly affordable in an area like TTDI/Damansara.

In a market and feasibility study carried out by our panel valuer namely KGV International Property Consultants (M) Sdn Bhd, the valuer opined that the proposed development is deemed viable due to Its proximity to the matured residential townships of TTDI, Bandar Utama and Mutiara Damansara. All these are highly desirable and sought-after locations for house buyers due to their extensive facilities and amenities provided.

While the proposed development is on Malay-Reserved land, its immediate locality is predominantly Malay and therefore forms the primary target market. Together with the neighbouring localities, the target market is sizeable for the developer to tap into.

The proposed development will also appeal to Malays in the surrounding areas, which include those in nearby Sungai Buloh, Kepong (Mukim Batu) and other suburban areas in Kuala Lumpur.

It is further observed that the mean household income for Kuala Lumpur is RM13,257 per month, which compares favourably with the national mean of RM7,901 as the former is the highest in the country. Compounded annual growth of income in WPKL was commendable at 4.2%, and approximately 54% of the households are in the brackets of RM10,000 and above per month.

There is also easy access via a network of existing and future highways, plus rail connectivity via MRT and LRT. These extensive linkages will allow prospective buyers who are working in other localities to consider residing in the subject locality.

Another reason cited for project feasibility is the timing of the proposed development coming at a time when the vaccination program is being actively rolled out, thus advantage can be taken of the upswing in the market sentiment when infection rates begin to drop.