This article first appeared in City & Country, The Edge Malaysia Weekly on January 11, 2021 - January 17, 2021

The neighbourhood of Jalan Serambi in Bukit Jelutong, Shah Alam, is decidedly green with verdant landscaping and mature trees. Its network of roads encompasses Jalan Serambi U8/21 to U8/33. Its commercial centre is well known as the go-to place for cafés, restaurants, mini marts and amenities for its residents, who are often seen frequenting the location, especially during weekends.

“Jalan Serambi comprises mainly terraced houses and a small commercial development known as D’Bayu in Jalan Serambi U8/21,” says Stanley Toh, LaurelCap Sdn Bhd executive director.

Noteworthy eateries at D’Bayu include PappaRich, Mozer’s, Restoran Asam Pedas Serambi and Paddy Restaurant, alongside convenience stores such as 7-Eleven and 99 Speedmart. Decked in warm décor, One Serambi Café is popular among residents. It offers an array of local and Western dishes as well as desserts.

Jalan Serambi forms part of Bukit Jelutong, which is also a popular starting point for cyclists who regularly take the Guthrie Corridor Expressway to ride to areas such as Rawang and beyond.

Giving a brief background of the area, Toh says: “Bukit Jelutong is located on a former oil palm plantation — the Bukit Jelutong Estate — which was owned by Kumpulan Guthrie Bhd. The development of Bukit Jelutong began in 1996 with the construction of the Guthrie Pavilion building, the present headquarters of Guthrie Properties. The entire development covers 2,200 acres and has a freehold tenure.”

Bukit Jelutong comprises mainly exclusive bungalows and semi-detached houses, which are located mostly in cul-de-sacs, as well as terraced houses.

Transactions in the Jalan Serambi area have been solid, according to Toh. “The median price for residential properties in general has been trending upwards, albeit at a slower and lower rate. There was a spike in the median price in 2019, but there were adjustments in 2020. Terraced houses made up most of the transactions in Bukit Jelutong, most of which were above RM800,000.

“The rental rates psf are RM1.50 to RM2 psf for offices and RM3.50 to RM4 psf for retail lots. The yield is between 5.5% and 6%. For the units in D’Bayu, the transacted price psf is between RM600 and RM1,000 psf [for the ground-floor units].”

Toh notes, however, that the drawbacks of the area include traffic congestion and constant flash floods. “There is also a mismatch in terms of [the supply of] commercial components versus the demand for such properties.”

Nonetheless, the Jalan Serambi neighbourhood is expected to continue to enjoy good prospects. “The outlook for the immediate period remains flattish whereas the long-term outlook is positive, owing mainly to the freehold tenure, good road accessibility and environment,” he concludes.

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