PROPCAFE Peek : One Central Park @ Desa ParkCity By Perdana ParkCity

One Central Park – “ An invitation to live in a park within a park.” 45 storeys condominium within 1.8 acres land.

Due to time constraint, PropCafe only did a quick update rather than detail review. Many of the information will be self explained by the attached pictures here.

Clearly, the developer put a lot of emphasis on the park within the park as one can see quite a lot of green allocated surrounding the building.

It is not difficult to sell DPC address at all, so no point to discuss its location of DPC here. If you still do not know the place then please visit it. While visiting it for property hunting purpose, you can also see the lifestyle that you can get in this part of Kuala Lumpur West.

The site of One Central Park is one of the best location within Desa Parkcity. It is located besides Northshore and opposite Adora/ West Park (the latest park in Desa ParkCity). It is still not the best for me as there is another better plot of land (also within the central park) which is opposite Southlake.

Last Saturday was the priority sales but there were no long queue, anxious buyers, furious buyer because of no units to choose, pasar malam BBB environment at sales gallery. It is pretty calm and relax because the backdoor sales already started 3 weeks ago. Those facing west i.e. west park already open for booking few weeks back. So those really interested could have bought it and some even signed SPA by now. VVIP also booked the best facing units. But there were still many good units were available during the priority sales.

Before noon, those facing central parks were almost taken up. Those lower and higher floors that facing west park are still available at 900k up.

Sales chart as at Saturdat (19/10) 2pm

Although there are only Type A, B, C, LBD (Duplex), one can see so many various layout within each type. You may refer its website to get all information on its layout. In general, type A is 1,100sf to 1,412sf. Why the size so much different when all are 2 bedrooms unit? Well, smallest unit only comes with one bathroom and also some are attached with balcony. However, for investor, it seems like no brainer to pick the smaller type A unit with smallest built-up to optimize the rental yield. As for ownstayer, then all sort of questions come into picture – preference of orientation, bathroom, balcony, spaciousness etc. So, the choice is yours.

Type B which is the most confusing one as it has 1,2, and 3 bedrooms types which ranges from 1,044sf to 1,518sf.The best affordable layout will be B2b which is the best among among 1.3ksf types. It comes with 3 bedrooms and most importantly, unlike many kitchen layout other types, this layout comes with wet kitchen and open dry kitchen. The other types (1.3+sf) are either 2 bedrooms or the kitchen is narrowly stucked at the side (see layout below. Also, this B2b either facing the west park or central park. I would personally pick the west facing as it is priced only around RM7XX+psf after discount compare to much higher premium that facing central park. Of course, this is solely from investor’s perspective. Type C is 3 bedroom units and Type LBD is Duplex unit which only available at level 43 and 43a.

Freebies and Incentive Program?

Pricing

Overall, the pricing starts from around RM7XXpsf to RM8XXpsf (see below the snapshot of pricing) before discount. How the discount works? See the photo below. Type A and B only eligible for 3% early bird discount but not DIBS. Other types i.e. bigger units can opt for additional 6% discount if one feel that DIBS is not required. Based on the DIBS discount percent, one can easily know that this development will take 4 years to development.

Full listing of units and size can be seen in the photo below.

Here are all the snapshot for the available units’ price.

Low Floor

Mid Floor

High Floor

New Duke Expressway?

The proposed 3.8km elevated DUKE highway extension will be completed in 2016 which will make DPC to KL City Central even shorter. The interchange is 1.2km away from DPC. What’s in PropCafe’s mind is not about how much leverage DPC has on this news but rather any other developments outside DPC will be benefiting this! See photo below

How about the potential problem for this development? Again, the surau in the masterplan is opposite the entrance of this development. This reserve land besides Zenia has been vacant there and no one know when the developer will build it. Without doubt, it is likely to be the last development in the entire Desa Parkcity.

Scaled Model

So Buy or No Buy?
Tough call! If one based on recent launches in the market, this OCP (psf term) seems reasonable! Given Desa Parkcity address, if one really look for an ownstay place and really like DPC’s environment and want to start a family at DPC, the 2 bedders below RM900k and 3 bedders around 950k seems like not a bad buy at all. From investor perspective, highrises will be very competitive in near future with West II, Breezeway, Arcadia SOHO are coming into market in next two to three years. Not to say existing supplies from Northshore and Westside I which are still no way fully occupied. Nadia condo could be too old to compete but it will be a bargain buy if its price doesn’t catch up the rest in next two years. With all million ringgit condo now in DPC market, it will not be easy to flip. Mont Kiara is the best example to see the saturation of pricing for million ringgit condominium. Buy with cautious and pick the most competitive unit.

Congratulations to all buyers. But don’t forget to tune in to listen the 2014 budget on 26th Oct…… haaaaa!