This article first appeared in City & Country, The Edge Malaysia Weekly on February 12, 2024 - February 18, 2024
Nestled in a quiet section of Mutiara Damansara is a commercial area comprising Jalan PJU 7/16, 7/16a and 7/16b. The area consists of 1- and 2-storey shopoffices, the Mutiara Damansara Police Station, Mutiara Damansara Mosque and Medan Selera Mutiara Damansara.
Unlike the township’s bustling commercial precinct made up of shopping plazas such as The Curve, Ikea Damansara and IPC Shopping Centre as well as Lotus’s Mutiara Damansara hypermarket, the Jalan PJU 7/16 commercial area, off Jalan PJU 7/15, is tucked away on the west side, nearer to the residential precinct. This part of the township is viewed as less exciting as businesses that operate there — mostly convenience shops, minimarts, eateries, offices and warehouses — cater to the residents’ daily needs. Some of the notable eateries are Nasi Kukus Ilham Mutiara Damansara, SALTed offering Sarawak cuisine, Mean Mince (Western fare), Wheatcraft Artisan Bakery, Ol’ Skool Smokehouse (barbecued food) and Kari Kepala Ikan Mutiara Damansara.
According to Metro Homes Realty Bhd executive director See Kok Loong, these shopoffices have been around since 2006 and were sold by Mutiara Rini Sdn Bhd, a subsidiary of Boustead Holdings Bhd and the master developer of Mutiara Damansara.
A 355-acre freehold mixed-use development, Mutiara Damansara is surrounded by Bandar Utama, Taman Tun Dr Ismail, Bandar Sri Damansara and Sunway Damansara. It is easily accessible via Lebuhraya Damansara-Puchong, Penchala Link, Damansara-Shah Alam Elevated Expressway and the Mutiara Damansara MRT station.
“Mutiara Rini sold the 2-storey shopoffices, each with a land size of approximately 1,540 sq ft and a built-up area of 2,800 sq ft, for RM612,000. The 1-storey units, with a land size of 1,200 sq ft and a built-up area of approximately 980 sq ft, went for RM250,000,” he says.
“The shopoffices there are secluded and less popular with the general public. Only nearby residents are aware of them, as they are overshadowed by the commercial precinct of Mutiara Damansara. Businesses there include restaurants, laundry services, grocers, car workshops, offices and some space used for storage purposes for businesses’ retail lots nearby. Most shops are tenanted, thanks to the lower rental rates compared with nearby locations like Damansara Perdana and Kota Damansara.”
He adds that rental for these shopoffices has been stable over the years, with ground-floor units going for RM3,500 to RM4,000 per month and the upper floor, RM1,200 to 1,800 per month.
Between 2017 and 2021, there were no transactions. Last year, there were two transactions; involving a 1-storey intermediate shop (land area: 1,200 sq ft; built-up: 980 sq ft) and a corner unit (land area: 1,957 sq ft; built-up: 1,580 sq ft), which fetched RM828,000 and RM1.4 million respectively.
See says the area offers relatively low-priced properties, which, in addition to their freehold status, make these good investment opportunities. With the rise of digital mapping technologies, he believes the visibility of locations can be enhanced and businesses can increase their discoverability.
“Also, the presence of predominantly 1- and 2-storey shopoffices, which are rare in PJ, presents an opportunity for niche businesses to thrive without facing intense competition. Its proximity to major highways makes the area accessible and potentially more attractive to customers,” he explains.
See believes that collaborations and community engagement will help businesses there. Operators can collaborate with organisations or businesses to host events or community activities, drawing people into the area and creating a more vibrant commercial environment.
“A diverse tenant mix is also important … a variety of businesses in the area can create a more dynamic environment, thus appealing to a wider range of customers,” he says.
Growth prospects for the Jalan PJU 7/16 commercial area are average, See adds, as this will depend on multiple factors, including economic growth and local development, which play a crucial role in driving consumer traffic and business opportunities in the area.
“Adaptation to technological trends is also essential, as modern consumers increasingly rely on digital platforms for shopping and services. However, individual owners face limitations in terms of resources, which might restrict their ability to significantly alter the entire landscape of the area.
“Furthermore, given that these shops have been established for 15 years, any substantial improvement in prospects is unlikely to be sudden. Gradual development and consistent efforts by the owners and local community will be key in shaping the future of Jalan PJU 7/16,” he concludes.
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