Live-and-learn. Work-and-play. At Glenmarie’s only university metropolisTM
Befitting the tagging, Paramount Utropolis @ Glenmarie is an integrated development with KDU University College (KDU University College), 1035 units residential, Utropolis Marketplace with 120,000sqft NLA are within the development itself to meet the daily needs of the residents. This is PARAMOUNT UTROPOLIS @ GLENMARIE.
Location of the property
A show of hand please, anyone here NOT using waze in KL? Ok I see none. Key in Paramount Utropolis @ Glenmarie in WAZE app, walla, you will be guided there in no time,’wink’.
Then let’s move on to accessibility, infrastructure and amenities of the Paramount Utropolis @ Glenmarie.
NO no no, well, this is not PROPCAFE style, we can do much better!
Let’s us walk you through the location of the Paramount Utropolis @ Glenmarie.
Paramount Utropolis @ Glenmarie is located at the border of Subang Jaya, bearing Glenmarie, Shah Alam address. Glenmarie is a widely known to most car enthusiasts; we call this is place with houses of cars, need not to elaborate more!
Picture this, Federal Highway is a river; Subang Jaya direct opposite side of the river.
Glenmarie is the twin brother of Subang Jaya separated by the river, often gets neglected; get the drift? Or at least the main plot of the story, ‘Twins of Subang Jaya’ anyway twins or not!
This is prime real estate and read on to and we will tell you why so.
Current Accessibility, Infrastructure and Amenities
Paramount Utropolis @ Glenmarie has is accessible to 6 major highways in Klang Valley, starts with Federal Highway, NKVE, Guthrie Corridor Expressway, Elite Highway, NPE, LDP. Yes, you can brag a little when you have few couple of options!
In short, the accessibility is great when you have plenty of highway infrastructures at your disposal.
After studying the accessibility of Paramount Utropolis @ Glenmarie, we sum up that the main access would be to and from Federal Highway (FH) to Glenmarie.
One fit fall of using Federal Highway as main access, is the daily high traffic condition along FH. However this can be overcome, as the project is surrounded by various major highways such as NPE, NKVE, LDP etc. Therefore getting in and out of town shouldn’t be an issue.
Paramount Utropolis @ Glenmarie, being situated in the prime area would mean there will no short of amenities.
School:
Paramount Utropolis @ Glenmarie itself is walking distance to KDU University College and Politeknik Sultan Salahuddin Abdul Aziz Shah and short driving distance to Japanese International School, SMK TTDI Jaya, SM Teknik Shah Alam, Batu Tiga, SK TTDI Jaya
Groceries shopping:
Giant Shah Alam, Tesco Shah Alam and Paramount Utropolis @ Glenmarie Marketplace in future (upon its completion) for daily groceries needs.
Malls & Banking needs:
Empire Subang, Subang Parade, Citta Mall Ara Damansara, SS15 commercial centre area
Hospitals:
Ramsay Sime Darby Medical Centre Ara Damansara, Ramsay Sime Darby Medical Centre Subang Jaya
Sports & recreational:
Stadium Shah Alam, Stadium MBPJ, Saujana Golf & Country Club, Subang National Golf Club
Transportation:
Subang Airport, KTM Batu Tiga
Civil service:
Police station Bukit Jelutong, Fire & Rescue Department Bukit Jelutong
All these amenities are within reach within short driving distance.
Developer Profile
Developer risk is always one of the key components of PROPCAFE property assessment and it cannot be more important especially in current state of property cycle. Property buyers may not care about developer’s reputable, quality of delivery or financial capability during the boom period (e.g. 5 years ago) as everything seems so effortless to generate handsome profit with low completion risk. It may change in coming years when developers are under a very cost sensitive and challenging economy environment. No one should be surprise to see bad finishing, late delivery, or even abandon projects. So, who is Paramount Property? Paramount has more than 37 years in property business. Paramount Property is 100% owned by Paramount Corporation Berhad which is listed in main market of Bursa. The key businesses are mainly on property and education.
Who does not know KDU University College, KDU College, and Sri KDU School? If you are Kemuning Utama buyers 10 years ago, surely you will love Paramount. The price of the guarded and gated development is now triple the original purchase price. Similar success also applies to Bandar Laguna Merbok at Sungai Petani which awarded 12th FIABCI-Property Award Distinction in 2004. Recently, several awards also given to Paramount including BCI Asia Top Ten Developers 2011 in Malaysia, Property Insight 2015 Best Boutique Development (Sejati Residences), and Best Self-Sustained Development (Paramount Utropolis @ Glenmarie).
Financially, Paramount Corporation is always profitable and property business always contributes more than 70% of its revenue. The group has a gearing ratio of 0.40 (net gearing at 0.26 as of 1Q 2015) that classified as low gearing under PROPCAFE’s rating criteria. Currently, the developer is holding 863 acres of land bank and having five on-going developments worth GDV RM2.5bil. The on-going projects include Sejati Residences (Cyberjaya), Sekitar 26 (Shah Alam), Bukit Banyan (Sungai Petani), Bandar Laguna Merbok (Sungai Petani) and of course our feature project here Paramount Utropolis @ Glenmarie. In addition, the developer has other future pipelines in Petaling Jaya, Klang, Penang, Kota Damansara and Shah Alam. Recently, Paramount also acquired 237 acres of land in Sepang. In short, the good track record of Paramount’s property business experience, reputation, financials, past delivery and its organic growth make the developer and completion risk redundant.
Masterplan
Paramount Utropolis @ Glenmarie sits at 21.7 acres land which comes with integrated lifestyle concept of “Live-and-learn. Work-and-play”. The 10 acres size of KDU University College is currently hosting more than 3,000 students and the completion of Paramount Utropolis Marketplace (commercial retails), which will be located underneath the Phase 2 (2 Towers of Lifestyle Suites & 2 Towers of Serviced Apartments), will add more lifestyle to the students, staffs and its nearby communities in Glenmarie.
Some artist impression of the overall development can be seen from the youtube link below
Paramount Utropolis Marketplace
The two levels of retail lots with the net let-able space of 120,000sf, managed by the leasing team from Paramount property, will spice up the vibrancy of Paramount Utropolis @ Glenmarie and meet residents’ everyday needs. The up-market grocery like SAM’s Groceria (http://www.samsgroceria.com), bank, clinic, dental, cafes, eateries etc already in the confirmed tenant list below (as at Aug 15). If one wants to know more information, you may refer to the Sales Gallery at the KDU University College.
Serviced Apartments & Lifestyle Suites
Paramount Utropolis @ Glenmarie development comes with 3 Phases. This 11.7 acres land will be built with a total of eight Towers of serviced apartments and lifestyle suites. Don’t expect high and tall building as there is height restriction in this part of Selangor to ensure the density issue is taken care of. Phase 1 consists of Tower A & B which seen a total of 414 units was fully sold and it is scheduled to complete in the end of 2015 or early 2016.
Phase 2A – two tower of Lifestyle Suites (428 units) was launched in 2014 to cater for the potential commercial needs in Paramount Utropolis @ Glenmarie. The current 2B phase – serviced apartment Tower C and D is opening for sale. The units under Tower C (136 units) will be partly furnished whilst units at the Tower D will be fully furnished. The interest fully furnished concept adopted by Paramount Property will be covered in later part of this review. How about the third phase? The final two towers? Well, if you are interested on Paramount Utropolis @ Glenmarie, PROPCAFE will recommend you not wait the third phase as the plan “may” change. Surely, even it changes, it will only add more values to the existing owners. Stay tuned to wait for Paramount Property’s announcement in later stage.
What else in the KDU University College?
The campus has been aggressively increase their students intake for this newly built KDU University College since Jan 2015 and expected to expand its intake to 7000 students in next few years. There is on campus hostel which currently catering 800 beds from its single and twin shared rooms. This modern campus is also come with a coffee laboratory and famous fine dining restaurant – Dewakan (http://dewakan.my). You need to book and reserve your table in advance. No chance for walk-in customers!
Updated 29th Nov02015 : For our dining review on Dewakan Utropolis Glenmarie .
Such an appetizing meals in Dewakan!
The current launch of Paramount Utropolis @ Glenmarie is phase 2B that consist of Tower C (136units) and D (117units). While units in Tower C are almost fully taken up, Paramount has launched Tower D with following composition that spread over 9 floors (From level 4-12).Phase 2B (Tower C & D)
Type of Units
Dual Key (Yes/No)
Configuration
Built Up
(sqft)
Unit in Tower D
Indicative Selling Price (RM)
Type D
Yes
3 bedrooms &
3 bathrooms
1,202
27
From RM1,029,700 (From RM856psf)
Type E
Yes
2 bedrooms, 1 study room & 2 bathrooms
1,030
45
From RM874,300 (From RM848 psf)
Type F
No
3 bedrooms &
2 bathrooms
1,162
36
From RM990,000 (From RM852 psf)
Type G
No
2 bedrooms &
2 bathrooms
797
9
From RM672,300 (From RM843 psf)
The size and configuration of units in Tower C is similar however Tower D comes with extra feature which PROPCAFE will come to it later.
What PROPCAFE noticed the main differentiation factor this phase from previous phase is for certain types (type D & E) there are dual keys feature where a separate studio suite with its own entrance (and with dedicated kitchen area mind you) if you would like buy for own use and would like to rent out the studio for extra income. Otherwise if you buy for investment, the studio unit can be rented to tenant who do not mind to pay premium rental for additional privacy.
Following are the layouts
Gone are the time where students are cramped in small and windowless bedroom. The apartments are well spaced with most of the rooms have adequate space to fit either queen or two single beds, wardrobe, study table etc. the open concept allow the integration of living, dining and kitchen and the students can mingle with each other comfortably in the space. With exception of smallest type G, the rest of the units can fit in 3 bedrooms comfortably. Being the most affordable due to the size, type G is by far the most popular type among all. However PROPCAFE being PROPCAFE, we always find the way to sweat the asset further in order to maximize the return of investment. What caught the eyes of the author is type F. The width allow more natural sunlight in the unit and more important, the space allow the owners to do some creative arrangement.
Not only this, type F is having advantage of being the corner units that afford more privacy and without sharing wall with another neighbors.From the modified layout above, bedroom 4 can be easily added and based on current rental for twin accommodation in KDU hostel, the extra bedroom can easily bring 2xRM650 extra rental per month for the owner.
Views & Orientation, Features and Finishing
With the exception of type F the corner units, all the intermediate units in Tower D are either facing the Level 4 (facilities deck) on North side and Politeknik Shah Alam football field on south side. At the time of writing, no plan yet for the football field and it should be remain as open space for the foreseeable term.
On the east side the corner units are facing the Jalan Kontractor U1/14 and despite the concern of west sun, afraid not as the most of the lower floors will be blocked from the west sun by the future phase.
Porcelain tiles are given for flooring however strangely vinyl flooring is chosen for bedrooms flooring which is uncommon among developers in Malaysia.
Each phase has their own usual facilities such as swimming pool, gym, multipurpose hall, laundry etc. Despite the towers are sitting on the common podium level, the resident security and exclusivity of facilities usage are assured with physical barrier is built on the podium level to stop the residents from other phase crossing over to use the facilities.
The physical barrier between phase 2A and 2B
4 lifts (inclusive bomba lift) are serving each Tower with 3 tiers security to ensure peace of mind of all residents.
Space Saving Furniture Feature
As mentioned earlier what differentiate Tower D versus the rest launched are each unit comes in fully furnished with exception of loose items and selected electrical appliances (TV, toaster etc). What make the additional fittings unique is Paramount Property has work together with MOCOF to furnish the unit with innovative space saving furniture. These additional fittings is only available for type D,E & F. MOCOF is Italian Brand Furniture emphasizing on space saving and yet functional, innovative and aesthetical looking furniture. All the main components came from Italy and assembled locally in order to save some cost.
Given the active lifestyle of the students and limitation for the space in bedroom as common space, essentially the furniture has multi functionalities that can be “transformed” when you have the needs.
The ensuite studio in type D & E for example upon the fit up with the MOCOF, the space can comfortably accommodate two to three students. You can set the bed with simple few steps by tucking away the sofa.
For owners who want to maximize the rental, the living area can be converted for another 2 students. The retail price for each of this single sofa bed is RM8000
For more comprehensive review of the MOCOF furniture, readers can links below
There are other interesting non-MOCOF space saving furniture provided by developer such as TV Cabinet, Writing Desk, Wardrobe etc. For more details of the furniture, please consult the Sales Representative.
For more information about MOCOF, readers can go their website http://www.mocof.com.my/ for more information on their products.
Financing scheme, pricing & comparison etc
Due to space saving feature furnishing, the price (psf) for Tower C is approximately RM100psf cheaper compared with similar type and size in Tower D. For example, type F the price starts from RM990K (RM852psf) however in Tower C it starts from RM874K (RM752psf). There are always debate whether purchasers are paying over the odd for the additional fittings. For those who have done renovation would understand it is getting more and more expensive even for a simple renovation job. Furthermore, Ringgit Malaysia has depreciated significantly compared a year ago causing any imported good pricier. If purchasers have intention to fully furnish the unit to the similar furnishing level given by developer such as the MOCOF space saving furniture where the components are imported from Italy, most probably the purchasers will not able to furnish it RM100psf. Furthermore Paramount Property sourced the furniture in bulk and therefore having advantage of enjoy further discount from the supplier.
Based on the psf basis, not much of premium differentiate between the dual keys (type D & E), type F and G. Therefore type G understandable are fully taken due to the low entry and more affordable compared to other type. Furthermore it is limited and only 1 unit is available for each floor. Each level the price is increased by RM1K.
Compared to recent launches of condominium within the area as per table below.
Developer
Development
Built Up (sqft)
Appr PSF
Tropicana
Tropicana MetroPark – Pandora
600-1300
800
Tropicana MetroPark – Paloma
600-1300
800-950
Sunsuria
Suria Residence
600-1200
680-800
Sime Darby
Radia
700-1500
650-800
WCT
Skyz Jelutong
800-1300
650-720
The selling price of the Paramount Ultropolis’s Tower D with MOCOF’s space saving furniture are on the upper range compared with these new launches.
Investment and Rental Analysis
At the moment, the KDU University College students have a choice to stay in the hostel that located just within KDU University College itself.
The students are paying from RM650 for twin sharing room and RM900 for single room (inclusive of utilities with exception of aircon based on usage) per month.
Paramount Utropolis Glenmarie Student Accomodation Rate as of 15th Oct 2015. Source from : http://www.kdu.edu.my/admission/accommodation/521-kdu-student-accommodation-utropolis-glenmarie
Based on the rental at the hostel, the following rental can be expected by renting the Serviced Apartments to the students assuming each room can accommodate two students.
Type of Units
Configuration
Students
Expected Rental (RM)
With MOCOF (RM)
Type D
3 bedrooms
6
3,900 (5%)
5,200 (6.8%)
Type E
2 bedrooms
4
2,600 (4%)
3,900 (6%)
Type F
3 bedrooms
6
3,900 (5.3%)
5,200 (7.1%)
Type G
2 bedrooms
4
2,600 (5.2%)
N/A
*Additional 2 students can be accommodate from using MOCOF.
By using the MOCOF or add another bedroom in type F, the expected rental yield can be boosted with the extra headcounts.
The hostel only has capacity of 800 beds and currently KDU UC has 3000 students. KDU University College targets to increase the student intake to 7000 population. If it is materialised, there will be shortage of student accommodation where the launched 1,035 units of Lifestyle Suites and Serviced Apartments (for all 3 phases) are expected to absorb the demands.
A quick check with developer of the rental in surrounding area can be summarised in snapshot below.
Development
Built Up (sqft)
Rental (Per month)
Serviced Apartment
Prima U1 (Seksyen 13, Shah Alam)
1100 (3 BR)
1,500-2,000
Brunsfield Riverview (Seksyen 13, Shah Alam)
900 (3 BR)
1,500-1,700
Sri Acapella Residences (Seksyen 13, Shah Alam)
730 (1 BR)
1,800-2.000
E-Tiara (SS16, Subang Jaya)*
700 (2 BR)
2,000-2.600
Subang Avenue (SS16, Subang Jaya)*
1300 (3 BR)
2,900-4,300
Olives Residences (SS16, Subang Jaya)*
1500 (3 BR)
2,700-3,200
Amaya Saujana (Saujana Subang)*
1808 (3 BR)
3,800-4,800
Saujana Residency (Saujana Subang)*
994 (2 BR)
3,500-4,200
SOHO/ SOVO/ SOLO/ SOFO
Casa Tiara (SS 16, Subang Jaya)*
880 (3 BR)
2,300-2,700
Subang SOHO (SS 19, Subang Jaya)*
685 (1 BR)
1,700-2,000
First Subang (SS 15, Subang Jaya)*
458 (Studio)
1,600-1,900
SOHO@Empire Subang (SS 16, Subang Jaya)*
797 (1 BR)
2,500-3,000
Source: From Iproperty, Property Guru
*Fully Furnished units
The nearest development to the KDU University College are those condos in Seksyen 12, Shah Alam such as Sri Acapella and Riverview. However the students require own transport as these are not within walking distance to campus.
Trivial
The expected maintenance and sinking fund is RM0.35psf and phase 2B is target to be completed by end of 2017. KDU University College already in operation and earlier phases is expected to be gradually handover to owners from end of 2015 or early 2016. Therefore when the purchasers for phase 2B get their keys, most of the constructions activities and dust already settle down.
1 car park is allocated for the smallest type G and the rest are allocated 2 car parks.
Future Infrastructure and Amenities
LRT3 Bandar Utama Klang Line
What’s next in Glenmarie after the new “component” like Paramount Utropolis @ Glenmarie and KDU University College? Glenmarie, already a perceived premium address, will elevate to a new level with the future transportation of LRT3. The additional of LRT will complete the necessity of being a township, to connect other townships and city centres. Again, it accelerate the pace to bring more “residents” into this township and higher demand of residential properties is expected. This “Macro Play” should work well in investor’s medium to long term portfolio.
One major catalyst for Paramount Utropolis @ Glenmarie is that there will be an upcoming new infrastructure to land on Glenmarie town centre, the LRT3 Bandar Utama Klang Line. LRT3 Line will connect Bandar Utama to Klang through a 36KM rail line. A total 25 stations planned, with proposed sub-two kilometre distances between them. There will be one underground station in the line, with the other 24 being elevated stations, and of the total, 10 stations are expected to have park-and-ride facilities.
The LRT3 line will connect to several integrated stations; planned interchanges are the Bandar Utama MRT station, Station 3 of the LRT Kelana Jaya Line, the Pelabuhan Klang KTM station, and two stations (SIRIM and Stadium in Shah Alam) on the KL-Klang BRT line.
Constructions to commence in 2016 and the LRT3 line is expected to serve around two million people in the Klang Valley, transporting around 70,000 passengers daily with an end-to-end journey time of 51 minutes. The first running trials will begin after the project is completed sometime in the first quarter of 2020.
Glenmarie Station
Paramount Utropolis @ Glenmarie is located within walking distance of Glenmarie Station and the LRT3 Bandar Utama Klang line will serve as a huge catalyst for future value enhancement, this is something Paramount Utropolis @ Glenmarie owner can really look forward to.
Station Location
External Prospect and Catalyst of the Property
We would say the main catalyst for Paramount Utropolis @ Glenmarie would be future commission of LRT3 Line as Paramount Utropolis @ Glenmarie is strategically located within walking distance to Glenmarie LRT station.
Apart from that, the upcoming mega scale commercial development of Subang Jaya City Centre with integration of Kelana Jaya LRT Line extension and UOA Kencana Square will definitely complement well with Paramount Utropolis @ Glenmarie as added convenience for future commercial needs.
PROPCAFE verdict
The completion of Paramount Utropolis @ Glenmarie will certainly add in more “young energy” into Glenmarie and trigger the transformation of Glenmarie from a sleepy industrial area into a new vibrant township. If you looks at those townships come with university/college campuses, the now-student and then-new workforce (many of them will continue to stay there) will help to generate the momentum of economy activities in its surrounding areas. Of course, property demand and value will rise in tandem with this growth.
The uncertainty of current economy is “cooling” the property prices and transactions. But, those “student play” investors always know that their portfolio have very low correlation with the economy as education industry always deemed as an in-elastic industry in economy activities.
In any relationship especially in love, you need two to tango. When PROPCAFE saw the quote below, it simply struck through the mind that in any investment it will depends on the appetite and risk profile of the buyers and what is their needs. Something are meant for somebody and if it not meant for you, then move on to find the one that fulfill each other needs.
Similarly to the investment game here. Student rental accommodation is always recession-proof investment given how much the parents place the importance of quality education for their children. KDU University College is a trusted brand among the discerning parents and this itself is an opportunity for property investors.
Pricing in psf is on top range of newly launched properties within the proximity and nevertheless with integrated development and KDU brand, the fully sold for earlier phases without much publicity speak for itself the popularity of the brand.
If you have more information and enquiries, you can browse the development website at http://www.utropolis.my/ and are welcome to contact developer at 603-5565 0760 or visit their sales gallery at address below
Level 6, KDU University College,
Paramount Utropolis, Glenmarie,
Jalan Kontractor U1/14, Seksyen U1,
40150 Shah Alam
Operating Hours
Mon – Fri: 9am – 6pm
Sat & Sun: 10am – 6pm
Paramount sales office
We end the blog with big smile from PROPCAFE! We shall keep you posted with more blogs – From Love Hate Passion to Buy Sell Rent
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