This article first appeared in City & Country, The Edge Malaysia Weekly on May 1, 2023 - May 7, 2023

Jalan 9/62A in Bandar Menjalara is the definition of hustle and bustle. Morning weekend visits to the street always result in driving around multiple times to get a parking spot.

The street comprises two rows of two- and three-storey shopoffices, which are mostly occupied. The ground floor units house restaurants, cafés, minimarts, insurance offices, clinics and veterinary clinics. Visitors can often spot furry four-legged friends being carried to the vet.

Popular for its wide variety of food options, the street is home to a number of Chinese restaurants that serve freshly made piping-hot breakfasts. These include Ee Soo Yong Tou Foo, Restoran Kam Sifu Roasted and Seafood, Hailam Kopitiam, HomeTown Bak Kut Teh, Restoran New Neighbour and Restoran Eden Dim Sum City.

According to PPC International Sdn Bhd managing director Datuk Siders Sittampalam, this area of Bandar Menjalara was previously known as Desa Sri Mahkota and prior to the 1980s, it was a rubber plantation.

He adds that Bandar Menjalara is one of the earliest neighbourhoods in Kepong. Today, it is bordered by Desa Parkcity to the south, Taman Bukit Maluri to the north, Bandar Sri Damansara on the west and Taman Sri Bintang on the east.

Bandar Menjalara is accessible via road networks and highways including Lebuhraya Damansara-Puchong (LDP), Middle Ring Road 2 (MRR2) and Duta-Ulu Kelang Expressway (DUKE). The area is also close to established townships such as Mont’Kiara, Damansara Perdana and Segambut.

Siders says the commercial centre of Bandar Menjalara is largely concentrated around Jalan 9/62A, which serves not only the area but also its surrounding neighbourhoods such as Taman Bukit Maluri, Taman Sri Bintang and Kepong.

“The commercial centre of Bandar Menjalara has a wide range of minimarkets, food and beverage outlets, banks and other amenities such as a college, budget hotels, insurance firms and consultancy firms.

“Being one of the earliest commercial centres in this area and its surroundings, the commercial centre has become well established and a preferred commercial location in the larger locality, not to mention there is a dearth of large commercial centres in the broader neighbourhood,” he says.

With regard to recent transactions, Siders says there have been few transactions over the last 10 years. “Only four shopoffices and one shop unit on the ground level were transacted, which may indicate that owner-occupied businesses are doing well and there were no reasons to place them on the market.”

Data provided by Siders show that two-storey shopoffices with a land area of 1,765 sq ft and built-up of 2,827 sq ft located in Jalan 9/62A were transacted in 2013 at RM1.8 million per unit and in 2021 were sold at RM2.5 million, which is a 38% increase in price.

Similarly, the sale of a three-storey shopoffice in 2018, with a land area of 1,765 sq ft and a bigger built-up area of 4,635 sq ft, was transacted at RM2.63 million.

In terms of rental rates, Siders says currently, the first-floor corner shop unit with a built-up of 3,520 sq ft has a rate of around RM4,800 per month, or RM1.36 psf.

Siders says Bandar Menjalara is a relatively older township development. “Bandar Menjalara is almost fully developed with only a few pockets of undeveloped land. The majority of the developments in Bandar Menjalara is residential, comprising terraced and semi-detached houses as well as high-rise projects such as Medan Putra Condominium and Menara Menjalara Condominium. High-rise residential properties were developed in the early 2000s, of which M-Suite @ Desa Park North, Bandar Menjalara, is one of the latest developments,” Siders says.

Recent completions in the area include East Parc @ Menjalara in 2020, which is a high-rise serviced apartment redeveloped from the former Fiamma Warehouse.

Ongoing developments include a new fire and rescue station by Jabatan Bomba dan Penyelamat Malaysia in Jalan 7A/62A.

Siders adds: “Along Jalan Medan Putra 2, there is a 49-storey residential tower with retail units proposed in 2018 to be developed by Debir Desa Development Sdn Bhd that has yet to start construction and appears to have been put on hold.”

On his outlook for the area, Siders says Bandar Menjalara has a substantial composition of low-density development with good accessibility to other towns and established neighbourhoods, including the city centre.

“This provides good potential for appreciation of capital values and yields. The shopoffices are currently experiencing reasonable returns with a very low vacancy rate which has the potential for rental appreciation and yield growth,” he concludes.

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