Friday 12 Apr 2024
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This article first appeared in City & Country, The Edge Malaysia Weekly on November 28, 2022 - December 4, 2022

Damansara Kim is a quiet and peaceful landed development nestled in the south of SS20 in Petaling Jaya, Selangor. It consists of mostly 2-storey houses and two rows of 2- and 3-storey shoplots located on Jalan SS20/10 and Jalan SS20/11.

The area is well connected by major highways — it is flanked by Damansara-Puchong Expressway and Sprint Expressway — and served by public transport facilities such as the TTDI MRT station. 

With the completion and opening of Glo Damansara Mall, which is located diagonally across from Damansara Kim, as well as the completion of the road-widening project on Jalan Damansara in 2015, traffic congestion from the Sprint Expressway into Jalan Damansara has greatly reduced. Connectivity to Damansara Kim has been enhanced and footfall to the commercial component has increased.

According to data provided by Metro Homes Realty Bhd, the transacted price for shoplots in SS20 has been on the uptrend in the past few years, despite the pandemic. The most recent transaction recorded was that of a 2-storey shoplot (built-up: 2,859 sq ft) on Jalan SS20/11, which was sold for RM2.9 million in April 2022.

In 2018 and 2017, two similar properties were sold for RM2.33 million and RM2.4 million respectively.

“The units are mostly fully occupied by long-term tenants and we hardly see any units available for rent. The shops have served mainly repeat and loyal customers over the years because the location [Jalan SS20/11] is not easily visible from major streets ... Only the locals know about the shops,” Metro Homes Realty executive director See Kok Loong tells City & Country.

Surrounded by two-storey houses, the 25 two-storey shoplots on Jalan SS20/11 have lot sizes of 1,649 sq ft (intermediate) and 1,979 sq ft (corner), and built-up areas of 2,859 sq ft (intermediate) and 3,399 sq ft (corner).

The businesses there include F&B outlets and grocers, as well as service providers like specialist clinics and beauty salons. The many reputable restaurants include German restaurant Euro Deli, Thai eatery Kompassion and Western-Asian fusion outlet Table & Apron.

There are also two popular bakeries: Kedai Roti Universal, which is said to offer among the best sourdough loaves in town, and Bakery La Artisan Boulangerie, which is famous for its desserts and pastries.

A few lots away from Kedai Roti Universal is KitaRefill BYOB Detergent Bulk Store. The store is a pioneer in unpackaged retail products, providing customers with the option of  prolonging the lifespan of plastic bottles by refilling them with quality eco-detergents and other products.

“The strength of the shoplots in Damansara Kim is the location in a mature neighbourhood, as well as its freehold property status. It partly explains why many businesses have been there for years and there are rarely shops available for sale or rent,” See says, adding that the current asking price is RM2.5 million for an intermediate unit, while the asking monthly rental for an entire shoplot unit is RM7,000 to RM8,000.

“My outlook for Damansara Kim shoplots is that they are stable and not affected by [the property] recession because of the strong support of neighbourhood buyers and consumers. For long-term passive income, the shoplots are a good investment. If you are aiming for capital appreciation, however, they are not as ideal because of a lack of catalysts that could further push up the price,” See says.

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