Galleria Equine Park, Seri Kembangan

  • Pavither
  • 16 April 2021

Galleria Equine Park are mid-range serviced apartments located along Jalan Putra Permai 2, off Persiaran Equine Perdana in Equine Park, Seri Kembangan. There are 2 blocks of serviced apartments here, named Galleria and Galleria 2 respectively. The entire mixed development of Equine Park is developed by Global Oriental Berhad.

The development sits on 4 acres of hilly leasehold land. Following the success of the first phase Galleria, the developer was confident that its phase 2, Galleria 2, would be well received as well.

Galleria 2 was completed in mid-2020, while the handover of keys for Galleria was in early 2017. In December 2016, the developer rewarded Malaysia’s previous mixed doubles badminton player, Chan Peng Soon, with a 2-bedroom unit in Galleria 1 for winning the silver medal at the 2016 Rio Olympics.

The developer highlighted that Galleria’s location, accessibility, affordable pricing, and amenities nearby, are the main reasons that buyers were attracted to the project. Overall, the group has been focusing in various residential and commercial properties throughout the years.

The developer highlighted that Galleria’s location, accessibility, affordable pricing, and amenities nearby, are the main reasons that buyers were attracted to the project.

Address: Off Persiaran Equine Perdana, Equine Park, 43300 Selangor

Developer: Kelab Taman Equine (M) Sdn Bhd (a wholly-owned subsidiary of Global Oriental Berhad ─ formerly known as Equine Capital Berhad)

Property Type: Serviced Apartment

Land Area: 4 acres

No. of Blocks: 2 (Galleria & Galleria 2)

Total Units: 744

  • Galleria: 504
  • Galleria 2: 240

Tenure: Leasehold

Year of Completion:

  • Galleria: 2016
  • Galleria 2: 2020

Built-up Area: 

  • Galleria: 450 sq ft & 760 sq ft
  • Galleria 2: 890 sq ft – 1,190 sq ft

Launch Price:

  • Galleria: From RM274,100
  • Galleria 2: From RM415,000

Launch Price Per Sq Ft:

  • Galleria: About RM530 per sq ft
  • Galleria 2: About RM438 per sq ft

Maintenance Fee:

  • Galleria: RM0.25 per sq ft

Project Details

Galleria Equine Park comprises 2 blocks of serviced apartments, with a total of 744 units. They stand at 18 storeys high, and there are 2 storeys of shop lots. Galleria has 504 units, while Galleria 2 is lower density, with 240 units.

Galleria has studio and 2-bedroom units, with prices that started from RM274,100, which is approximately RM530 per sq ft

Galleria has studio and 2-bedroom units, with prices that started from RM274,100, which is approximately RM530 per sq ft. Units came with built-in wardrobe, water heater, aircon, kitchen cabinets, hood, and hob. Nonetheless, the maintenance fee is priced at RM0.25 per sq ft.

Galleria has studio and 2-bedroom units, with prices that started from RM274,100, which is approximately RM530 per sq ft

On the other hand, Galleria 2 offers bigger units, with 3 bedrooms. Prices started from RM415,000, or RM438 per sq ft. Galleria 2 has a gross development value (GDV) of RM167 million, with 2-storey shop offices. The shop offices have an average built-up of 2,800 sq ft each, and the total net lettable area is 25,200 sq ft.

The developer had previously shared that the selling prices for Galleria were higher because the units were partially furnished. They wanted to make Galleria 2 more affordable, and therefore the units were not furnished.

Facilities at Galleria and Galleria 2 are similar, and it’s listed below. Units come with 2 parking lots. The developer opines that since Galleria is built on a hilltop, it would be hard to miss, and thus become a landmark.

Project

Types

Launch Price

Galleria

·       504 units

·       Completed: 2016

 

Type A

·       760 sq ft

·       2 bedrooms

·       2 bathrooms

·       Yard

 

Type B

·       450 sq ft

·       Studio

·       1 bathroom

·       Yard

 

Facilities:

·       Swimming pool

·       Children’s pool

·       Basketball half court

·       Gymnasium

·       Barbeque area

·       Management office

·       Surau

·       Changing rooms

·       Children’s play area

·       Multi-purpose hall

From RM274,100

Galleria 2

·       240 units

·       Soft launch: End 2016

·       Completed: 2020

 

Type A

·       890 sq ft

·       3 bedrooms

·       2 bathrooms

 

Type B

·       990 sq ft

·       3 bedrooms

·       2 bathrooms

 

Type C

·       1,190 sq ft

·       3 bedrooms

·       2 bathrooms

 

Shop offices: Average built-up of 2,800 sq ft each

 

Facilities:

·       Swimming pool

·       Jacuzzi

·       Gymnasium

·       Surau

·       Changing rooms

·       Playground

·       Multi-purpose hall

·       Management office

 

From RM415,000

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Location

The Maju Expressway (MEX) is close to Galleria Equine Park and thus, it connects residents from Putrajaya to Kuala Lumpur. To the south of the development is the South Klang Valley Expressway (SKVE), and to its west is the Damansara-Puchong Highway (LDP).

The Maju Expressway (MEX) is close to Galleria Equine Park and thus, it connects residents from Putrajaya to Kuala Lumpur

This accessibility puts residents about 20 minutes from the Kuala Lumpur city centre (KLCC), and Putrajaya. Additionally, the MRT station along the Sungai Buloh-Serdang-Putrajaya line is within walking distance, and the Serdang KTM station is just 5 minutes away from Equine Park.

Galleria Equine Park is also located near amenities such as shopping malls, universities, schools, banks, tyre shop, fishing shop, fresh market, pet shop, hardware stores, mini marts, and many more. Plus, there is a McDonald’s Drive-Thru and AEON Mall Taman Equine just 2 minutes away.

There are several shopping malls and markets such as Giant Hypermarket, The Atmosphere, Pasar Borong Selangor, Putra Walk, IOI Mall Puchong, IOI Resort City Putrajaya, and Sierra Zentro (16 Sierra), which are all about 15 minutes from Taman Equine.

There are also a number of schools and universities close to Galleria Equine Park, including Universiti Putra Malaysia, Multimedia University, Limkokwing University of Creative Technology, Alice Smith International School, Rafflesia International School, Tanarata International School, and Australia International School.

Accessibility

  • Lebuhraya Damansara-Puchong (LDP)
  • Maju Expressway (MEX)
  • South Klang Valley Expressway (SKVE)
  • North–South Expressway Central Link (ELITE)
  • Kajang Dispersal Link Expressway (SILK)
  • ERL Putrajaya & Cyberjaya ERL station
  • Sungai Buloh-Serdang-Putrajaya MRT line 

Education

  • Alice Smith International School
  • Rafflesia International School
  • Australia International School
  • Nexus International School
  • Tanarata International School
  • Limkokwing University
  • Universiti Putra Malaysia (UPM)
  • Multimedia University (MMU)
  • Universiti Tenaga Nasional (UNITEN)

Medical Care

  • Serdang Hospital
  • Hospital Putrajaya

Shopping

  • Equine Boulevard
  • AEON
  • Giant Hypermart, Seri Kembangan
  • The Atmosphere, Seri Kembangan
  • Pasar Borong Selangor
  • Putra Walk
  • IOI Mall Puchong
  • IOI Resort City Putrajaya
  • Sierra Zentro (16 Sierra)
  • Bukit Jalil City 
  • The Link 2, Bukit Jalil

Recreation

  • Farm In The City
  • Tonga de Futsal
  • Ayer Hitam Forest Reserve
  • Putrajaya Botanical Gardens
  • Wetlands Park
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Analysis

The developer was targeting owner-occupiers because of the price they were offering, which was below RM500,000. Nearby amenities and accessibility are also major pulling factors.

Galleria comprises smaller units, and thus it was targeted at young people and smaller families. The target group for Galleria 2 was slightly different from Galleria as the units are bigger, and therefore it’s ideal for small- to mid-sized families.

galleria-playground

The development also attracted investors as the development is near several international schools and universities. Global Oriental Berhad has been cautious with its property launches and pricing in view of the market sentiment. Based on some of their surveys, they think that there’ll still be demand for properties priced under RM500,000.

The sale price of a 450 sq ft unit listed on PropertyGuru in April 2021 is from RM220,000 to RM330,000. Meanwhile, rent is between RM750 and RM1,500 per month. Based on these figures, the approximate gross rental yield is as below:

  • Purchase price: RM250,000
  • Rent out: RM1,000 per month
  • Gross rental yield: About 8% per annum

Here’s a look at properties in the Seri Kembangan area.

Project

Land Tenure

Property Type

Completion

Built-up

Approximate Launch Price

Galleria 2 @ Equine Park by Global Oriental Berhad

Leasehold

Serviced Apartment

2020

890 sq ft – 1,190 sq ft

From RM415,000

Galleria 1 @ Equine Park by Global Oriental Berhad

Leasehold

Serviced Apartment

2016

450 sq ft – 760 sq ft

From RM274,100

Park Residence @ Sunway Eastwood by Sunway Property

Leasehold

 

Semi-detached

 

2017

3,193 sq ft – 4,142 sq ft

 

From RM2,143,000

Sierra 6 @ Sierra 16 by IOI Properties Group

Leasehold

 

2-storey semi-detached homes

2018

From 2,798 sq ft

From RM1,251,800

The Linq Kinrara Uptown by Gabungan AQRS Berhad

Leasehold

Condominium

 

2018

650 sq ft – 1,260 sq ft

From RM357,500

 

Milenia Residenz by Alaf Cahaya Development Sdn Bhd

Leasehold

 

Serviced Apartment

 

2019

823 sq ft – 1,114 sq ft

From RM400,000

Equine Residence by Beverly Group

Leasehold

Serviced Residence

2021

 

452 sq ft – 1,264 sq ft

From RM260,000

LUX Service Residence by Villamas Group

Leasehold

Serviced Apartment

2023

659 sq ft – 864 sq ft

From RM280,00

Zenopy Residences by LBS Bina Group

Leasehold

Serviced Residence

 

2021

 

823 sq ft – 2,031 sq ft

 

From RM413,100

 

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Summary

Equine Park is poised to be a thriving township in Puchong South due to its close proximity to Putrajaya, Cyberjaya and Kuala Lumpur International Airport (KLIA). Galleria Equine Park is designed to be simple, efficient, and practical.

Since it is located on top of a hill, the developer has put in a lot of glass so that residents can enjoy the view.

Despite the soft market, the property value of Galleria Equine Park could hold, and possibly rise as it checks the right boxes in terms of location, accessibility, and nearby amenities.

Other projects by Global Oriental Berhad are Springville Residence at Equine Park, Da:Men (mixed development) in USJ, Palomino (double-storey homes) in Cheras, landed homes at Bandar Putra Permai, Villa Heights (bungalows) at Equine Park, and several others.

If you’re interested in a 450 sq ft unit at Galleria Equine Park that’s priced at RM250,000, here are its estimated loan figures.

  • LTV / margin of finance: 90%
  • Down payment (10%): RM25,000
  • Loan amount: RM225,000
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM1,010
  • Approximate required gross annual income: RM39,000*

These calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru Home Loan Eligibility and Affordability Calculator.

Can you afford the loan for this property?

To calculate your Debt Service Ratio (DSR), use the FREE PropertyGuru Loan Pre-Approval tool. It has a 99.9% accuracy, which greatly helps in avoiding loan rejections. DSR is a method used by banks in Malaysia to calculate whether you can afford the loan you’re applying for.

If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Loan Pre-Approval tool. It is FREE to use and has a 99.9% accuracy, which helps in avoiding loan rejections.

* Assumptions: No other monthly debt obligations, and 30% of gross income spent on the home loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.

 

Keep browsing Malaysia’s largest property site for more project reviews. 

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Eric Wong

Pavither

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