Subscribe:

Pages

Thursday, 12 January 2017

(NST) Bangsar, country's desirable address


BANGSAR, first developed as a rubber estate when Malaya was still under the British administration in 1906, remains the most desired residential suburb among Malaysians and expatriates. 

People like Bangsar because it is convenient and accessible, and offers a wide range of facilities and amenities. 

Bangsar is located about 4km south west of Kuala Lumpur and 10 minutes to the city centre. 

It is easily accessible from any part of Kuala Lumpur and Petaling Jaya via the Federal Highway and Jalan Damansara, and from Jalan Klang Lama, Bandar Sunway and Subang through the New Pantai Expresway. 

Bangsar is also a five-minute drive to KL Sentral, a major transport hub in Brickfields. 

Stesen Sentral at KL Sentral is an integrated rail transport centre, offering global connectivity and seamlessly linking urban and suburban residential, commercial and industrial areas. 

It has a direct link to the Kuala Lumpur International Airport, Putrajaya (the Federal Government administrative centre) and Cyberjaya. 

THE EVOLUTION 

Plantation firm Socfin had owned Bungsar Estate (before it was developed into a residential area), and had been capitalising on the booming rubber prices prior to the 1960s, after which it started to sell land to property developers. 

The first residential project, Bangsar Park, was started in 1969. 

Socfin continued selling land to several developers and Bangsar started to grow from there. 

Among the earliest developer in Bangsar is Bandar Raya Development Bhd (BRDB), which has a long track record in residential and commercial developments that can be traced back to the mid-1960s. 

BRDB’s journey of building iconic communities began in 1965 and among its earlier projects were Contessa, Bangsar Puteri, Bangsar Villa, Sri Penaga and Tivoli Villas. 

Its portfolio has extended to include the more high-end Inara, One Menerung, Bangsar Peak, Senja and Serai Bukit Bandaraya. 

The group also developed high-end shopping mall Bangsar Shopping Centre, which is popular among expatriates. 

Eng Lian Enterprise Sdn Bhd is another developer which has contributed to developments in the Bangsar Baru neighbourhood. 

It launched some 1,125 single and double-storey link houses and a commercial hub in 1974. 

Zerin Properties chief executive officer Previndran Singhe said Bangsar started to develop in the 1970s as a housing suburb. By 1980s, it has become a sought-after location. 

“The 1970s was the opening of Bangsar. It was not the preferred location due to floods but soon, people saw it as a strategic location. 

“Bangsar Park terrace houses were selling for about RM18,000 each. The same terrace house now is going for at least RM1.7 million,” he told NST Property. 

Dubbed the Beverly Hills of Kuala Lumpur, Bangsar remains an elite enclave dominated by landed residential and boutique apartments. 

“I think what made Bangsar into what it is today are its residents who appreciate quality living. This, plus the infrastructure (SPRINT Highway, light rail transit and KL Sentral), just made the location golden,” he added. 

According to the Property Market Report First Half 2016 by Napic, a single-storey terrace house in Bangsar Park was transacted for between RM1.13 million and RM1.45 million in the second half of 2015. 

In the first half of last year, the same type of property was transacted for between RM1.155 million and RM1.25 million, which was 4.6 per cent lower. The fall was most likely due to market conditions. 

A double-storey terrace house in Bangsar Park, however, was stable, recording a transaction value of about RM2 million in the second half of 2015 and the first half of last year. 

For a double-storey terrace house in Bangsar Baru, the transacted price was between RM1.68 million and RM1.8 million in the second half of 2015. 

The selling price was stable in the first half of last year, at between RM1.58 million and RM1.9 million. 

BANGSAR LANDSCAPE 

There are various areas in Bangsar that completes the township by offering a wide range of properties catering to all segments of the market. 

The areas include Bangsar Baru, Bangsar Park, Lucky Garden, Taman SA, Bukit Bandaraya, Bukit Bangsar, Bangsar Utama, Pantai Hills and Off Jalan Bangsar. 

Bangsar’s main road is Jalan Maarof, which divides the township into two main areas — east and west. 

The east side comprises Bangsar Park, Bukit Bangsar, Bangsar Utama, Bukit Bandaraya and Taman SA. 

The west side includes Bangsar Baru, Lucky Garden and Pantai Hills. 

The southern neighbourhoods of Bangsar Utama, Bangsar Park and the Off Jalan Bangsar are mostly flat areas. 

Bangsar Baru and Pantai Hills are located on higher grounds and some areas offer scenic views of the KL city skyline, KL Sentral and Mid Valley City. 

SHOPPING, ENTERTAINMENT AND LIFESTYLE 

Bangsar has upscale shopping malls and fine dining places, located mostly on Jalan Telawi, as well as sports and recreational facilities. 

The first shopping mall that was built was the BSC by BRDB in 1990. 

The iconic mall underwent a major refurbishment in 2009 to better reflect the distinct personality and lifestyle of the city’s most affluent suburb. 

The enhanced BSC featured additional 100,000 sq ft of retail, car park space, facilities, amenities and services. 

A new retail wing and a 12-storey signature office tower was added to the property. 

BRDB invested over RM250 million for the entire plan. 

Bangsar Village 1 & 2, a neighbourhood mall developed by Eng Lian Enterprise is located closer to the Bangsar Mosque and a stone’s throw away is the Mid Valley Mega Mall. 

For sporting activities, there is Bangsar Sports Complex located within the Terasek area. It has badminton, tennis, basketball and squash courts. There is also a swimming pool and children’s playground within the compound. 

There are also several parks and playgrounds in Bangsar. These parks and playgrounds are located along Jalan Terasek 7, Jalan Bangkung, Jalan Rumpai, Jalan Tempinis 5 and Jalan Kurau. 

FUTURE DEVELOPMENT — ONE BANGSAR 

One Bangsar, once a popular dining address with nine restaurants located along Jalan Ara, is poised for a redevelopment. 

It was reported that the landowner, Eng Lian Enterprise may revive the low-density commercial development, which it had initially proposed to develop in 2014. 

However, it is uncertain when this would take off. 

Officials from Eng Lian Enterprise were not available for comment. 

Occupying a 1.4ha area, One Bangsar was in 2004 given temporarily commercial land status in 2004 as a gourmet destination in Bangsar. 

The temporary status expired on December 31 2009 and it was not renewed by Kuala Lumpur City Hall (DBKL). 

Business operators started moving out of One Bangsar in 2011 and since then the site has been left abandoned. 

Bangsar was the earliest housing development established in Kuala Lumpur 

Due to its strategic location (only 4km away from Kuala Lumpur city centre), the town became the choice of baby boomers settling in Kuala Lumpur at that time. 

As the children of these baby boomers grew up coupled with increased demand for house from the urbanisation, house prices in Bangsar increased significantly, say MIDF Research property analyst Alan Lim Seong Chun. 

In the future, Lim expects Bangsar will continue to be the premium address of Klang Valley. 

“We think that the affluent residents currently residing in Bangsar will continue to like the place due to good amenities in that area. 

“Note that Bangsar has two shopping malls (Bangsar Shopping Centre and Bangsar Village) and it is also only 3km away from Mid Valley Megamall. 

“Transportation-wise Bangsar is connected to Klang Valley integrated rail system via Bangsar LRT station,” Lim told NST Property. 

Meanwhile, Lim pointed out that there are three things that matter for Bangsar: “location, location, location”. 

“Bangsar is only 4km away from Kuala Lumpur city centre which means that the travel time between Bangsar and Kuala Lumpur would take less than 30 minute drive,” he said.