OUG Parklane

OUG Parklane is a new residential cum commercial development in Old Klang Road vicinity. The project is sited just a stone's throw away to Sutera Maya. Spreading over 30.08 acres of commercial freehold land, it was developed in 3 phases. Phase 1 is sited in Zone E, comprising three 31-storey blocks with a total of 1,053 apartments, and 32 units of 2-storey shop-office. Phase 2 of OUG Parklane is sited in Zone D, consisting of 2 blocks of 33-storey apartments with a total of 778 units. Phase 2 also include 33 units of 2-storey shop-office. Phase 3, scheduled to be completed in mid year of 2015, is sited in Zone A, B and C. Phase 3 comprises 6 blocks of 33-storey building with a total of 2,394 apartments. Phase 3 also includes 139 units of 3-storey shop-office. The serviced apartment is the largest component of the development, with a total of 4,225 units. Each apartment has built-up size of 950 sf and built with 3 bedrooms and 2 bathrooms. For early birds, the developer offers 2 water heaters, 2 shower screens, 4 air-conditional point with piping, 3 nos. air-conditioner units, kitchen cabinet, 3 bedroom wardrobe, free SPA and loan legal fees and free maintenance fees for 2 years. There are 2 types of shop-office – 2 and 3-storey types. The 2-storey shop-office comprises 65 units, and each unit has built-up sizes range from 2,558 sf to 7,579 sf and built with 4 toilets. Meanwhile, there are 139 units of 3-storey shop-office, and each has built-up sizes range from 3,456 sf to 7,832 sf. The shop-office is equipped with 6 toilets. In terms of accessibility, OUG Parklane can be accessed via Jalan Puchong that connects to Shah Alam Expressway (Kesas), New Pantai Expressway (NPE), Middle Ring Road 2 (MRR2), North South Highway and Jalan Klang Lama. OUG Parklane is within mere minutes drive to Sri Petaling RapidKL LRT Station. It is also about 3 minutes drive to the proposed PPR RapidKL LRT Station and 5 minutes drive to Bukit Kinrara and Awan Besar RapidKL LRT Stations. It is approximately 7 km to Mid Valley City, 15 km to KLCC, 9 km to Sunway Pyramid, 25 km to Putrajaya and 40 km to KLIA.

Property Details

Name: OUG Parklane

Address: Jalan Puchong, Off Old Klang Road, Kuala Lumpur

Developer: Akisama

Completion Date

Phase 1 & 2: Mid 2014

Phase 3: Mid 2015

Type: Condominium

Tenure: Freehold

No. of Blocks: 11

No. of Storey

Serviced Apartment: 31 & 33

Shop-Office: 2 & 3

No. of Units

Serviced Apartment: 4,225

Shop-Office: 204

No. of Bedrooms

Serviced Apartment: 3

No. of Bathrooms

Serviced Apartment: 2

Shop-Office: 2 per floor

Built-up

Serviced Apartment: 950 sf

2-Storey Shop-Office: 2,558 – 7,579 sf

3-storey Shop-Office: 3,456 – 7,832 sf

Launch Price: From RM272 psf

Facilities

Serviced Apartment

Swimming pool

Wading pool

Pool terrace

Children’s playground

24-hour security

Landscape garden

Market Trends

Analysis

Akisama has quite an impressive portfolio in hand, with numerous high-rise residential developments. The developer is the same developer for Kuchai Avenue, Dynasty Garden, Connaught Avenue, Continental Heights and Klang Parade. The location and pricing of OUG Parklane seem to be right. However, the number of supply worries investors. Imagine there are over 4,000 same units in the market, with the same built-up size and features. Hence, the purchasing power will be held by buyers and tenants. Will there be any room for the price to appreciate further?