PROPCAFE Peek : Alternative Expressway @ New Rawang

The news of proposed interchange to link Rawang’s Bandar Tasik Puteri and Kuala Selangor – KL Latar Expressway has been mentioned “n” times by the developers in Rawang. However, many do not expect it to start soon especially the news has already been there for last two years since the completion of the RM1 billion Latar Expressway (33km) in 2011. Good news for Rawang folks, the announcement was lastly out today and it is Low Yat Group, which developed Bandar Tasik Puteri, will take up the bill of RM100milion to build the interchange. The link will shorten the distance and driving time tremendously from this part of Rawang to Templer Park KL.

While this part of Rawang, which PropCafe called it New Rawang (see map below), is heavily rely on NKVE highway, this connection will certainly help the deeper end of New Rawang as an alternative route to KL.
rawang map

So, which development site is the clear winner? Definitely, Bandar Tasik Puteri. Low Yat group will not do this for nothing. They are going to launch Garden Height at Bandar Tasik Puteri soon as they still have significant landbank at Bandar Tasik Puteri.

The connection to Latar will also directly bring lights to the stretch of Jalan Tasik Puteri, for example the M Residence 1 and M Residence 2 development by Mah Sing. This part of new rawang has been screaming for the work of dual carriageway at Jalan Batu Arang (lead to NKVE Rawang toll) to start for last two years (though it was approved). Even it is upgraded, there is still traffic congestion near to Aeon Jusco (where Guocoland’s Emerald West and Hong Bee’s Anggun City located) toward NKVE Rawang toll due to the current construction of flyover which is right after the Rawang Toll. No matter what, this interchange will certainly help residents and unlock the property value in this inner part of new Rawang.

The news announced by Low Yat today – The Star

Latar connection to open up RM5bil gold mine, hopes Low Yat

From end 2015, Bandar Tasik Puteri near Rawang would connect to KL in 25 minutes.

Finally. You can almost hear the huge sigh of relief. “It’s signed on the dotted line,” says Low Yat Group’s director for project/construction management, Lee Kok Wah, who for several years has been overseeing the project to connect Bandar Tasik Puteri, Low Yat’s large township west of Rawang, to the KL-Kuala Selangor expressway (also known as the Latar expressway).

The long awaited punch-through, the delay of which literally caused residents to walk out on the streets in protest, has finally been done and dusted. Or at least the paperwork. Now it’s only left for the highway concessionaire to complete the connection, due within two years.

Once completed, travelling from the township to Jalan Duta will take only 25 minutes, promises Lee. This is as opposed to over an hour today, if you were to take the heavily utilised Jalan Batu Arang and Rawang toll exit.
“From Latar, you can easily connect to KL through the North-South highway or to Selayang, west to Kuala Selangor or south to Shah Alam.”

What took them so long? According to the group’s executive director Low Gee Soon, the developer had to ride out changes in the highway concessionaire, including shareholding and sources of funding, before the highway was open in 2011, which also involved the acquisition of privately owned land.

Now this is assured, Low Yat will launch several more properties in Bandar Tasik Puteri. Previously known as a low-value area–with prices ranging from RM200,000 for completed double storey terrace houses to low-cost flats auctioned from RM45,000–Bandar Tasik Puteri actually has 1,500 acres of land bank left to be developed by Low Yat.

It isn’t surprising that low-cost communities populate the township first; this is often practiced in township projects. But upside has generally not been envisioned, given Bandar Tasik Puteri’s current inaccessibility.
With the Latar punch-through, however, and considering recent launches of double storey terrace houses by Mah Sing at up to RM460,000, Bandar Tasik Puteri’s current phase of premium double storey terrace houses–Garden Heights, Phase 3–will launch next month from RM414,000 (see comparison table below).

In fact, planned future premium residential launches include semi-dee clusters, “linked bungalows” and waterside bungalows which may reach the RM1mil mark! Existing Rawang-ites may scoff, but bungalows in the Emerald and Anggun area are already asking for well over RM1mil.

Furthermore, Bandar Tasik Puteri has a 27-hole golf course, and the developer will invest several million ringgit to upgrade the township’s roads and facilities. And even though Bandar Tasik Puteri is relatively far from the hugely popular Aeon Rawang hypermarket, Low says that the company is in negotiations for another hypermarket to open here.
Low Yat one day plans to build a RM3bil commercial corridor in Bandar Tasik Selatan. This will only take shape after several residential phases have debuted, however.

“Ultimately, the timing of everything depends on market factors and demand,” says Low, one of the grandchildren of original group founder, the late Tan Sri Low Yat. “We are looking at within the next 10 to 15 years, and we’re in no hurry to complete… In the meantime, we all know houses in the Klang Valley are getting so expensive, so what we are offering are landed houses in the RM400K range. That’s affordable, isn’t it?”

table3

http://www.starproperty.my/index.php/property-news/latar-connection-to-open-up-rm5bil-gold-mine-hopes-low-yat/

Low Yat invests RM100mil for LATAR interchange
by LIZ LEE

KUALA LUMPUR: Low Yat Group has invested RM100mil to construct an interchange off the LATAR Expressway, an access point that will enhance the connectivity of its township development in Bandar Tasik Puteri (BTP).

The interchange was expected to be completed in the third quarter of 2015.
With LATAR , residents would only need 25 minutes to drive into Kuala Lumpur city.
Group executive director Low Gee Soon said the property prices are expected to appreciate by at least 30% upon completion of the interchange.

“The interchange is expected to benefit the 55,000 residents and 700,000 locals in Rawang and act as a catalyst for future growth of the township.

“I see BTP becoming the next Puchong in the next 15 to 20 years as we complete the township development, with upgraded facilities such as the landscaping and a commercial hub,” Low said in a press conference.

http://biz.thestar.com.my/news/story.asp?file=/2013/5/30/business/20130530143111&sec=business

6 Comment

  1. Wow! Good news

    1. Whoa….good news indeed.
      Didnt know that btp still have 1500acres of land bank to develop.
      But low yat is like shc…..like to sit on land n moves like snail pace on land development. Haiz….sians…..

  2. good news man….
    hope it can be ready by 2 years time and flyover link to old rawang will be ready too.
    Everything is in good hands

  3. Caffe Corretto says: Reply

    The impact of 30pc appreciate mentioned by Low Yat is quite ambitous or rather it is price point they want to sell for their next proj from exist mkt price. Ha. Btw,readers should b aware that the journey from jalan tasik puteri to Latar expressway is not short. It ll take abt to 5 to 7km to reach the interchange as jln tasik puteri is quite long.

  4. SoyCappuccino says: Reply

    Another new interchange to Rawang!

    ” Gamuda announced that it has entered into an agreement with TPPT Sdn Bhd to acquire land measuring approximately 724 acres for RM620mil. Funding is not an issue, given Gamuda’s strong balance sheet (FY13 net gearing: 14%).
    The leasehold land comes in 14 parcels, with the leasehold tenures’ expiry ranging from 2092 to 2095. It is situated in Kampung Sg.Serai, Kuang in Selangor. It is about 28km from PJ and Shah Alam, and 30km from KL.
    Accessibility to the said land would be further enhanced once a new interchange linking the land directly into the Rawang South interchange of the North South Expressway is completed by August 2014. Construction of works at this new interchange – currently being undertaken by TPPT – commence in August 2012.
    In addition, future connectivity would be improved through:
    Kuang KTM train station – ~2.6km south of the land –located just one station away from the KTM train station/Sg.Buloh station for MRT Line 1
    A proposed Bus Rapid Transit (BRT) link by Majlis Perbandaran Selayang that departs from Kota Puteri (Ijok) and stopping at Kuang KTM train station.
    Based on RM620mil, we deem the acquisition price for the Rawang land as attractive at RM20psf for a sizeable tract of land within the fast-growing Rawang area, where connectivity is improving.
    This new landbank would help shore up Gamuda’s remaining landbank of ~1650 acres as at March 2013.
    We believe this is a strategic move by Gamuda to revitalise its landbank within the Klang Valley – where key developments such as Valancia, Bandar Botanic and Kota Kemuning are at the tail-end of their respective lifecycles.
    The Rawang land is to be developed into a premier residential and commercial enclave. Given Gamuda’s astute track record in township development, we believe the project would be well-received.
    The RM5bil-GDV project is to be developed over 16 years, potentially lifting the group’s overall GDV by 23% to ~RM27bil. The entire deal is to be completed by 3Q13. We maintain our earnings forecast pending more details.”

    Source: AmeSecurities

  5. no regret..last year bought 2 1/2 stry bandar country homes for 210k even the toilet bocor..

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