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Continue Reading ⋅ 30 January 2023
PPB Group Bhd launched a mixed development project named Megah Rise at the former Ming Tien Food Court site at Taman Megah, Petaling Jaya, in March 2018. The hawkers have moved to various locations including the new Ming Tien in Bandar Utama, and K88 food court in Jalan Kelang Lama.
Taman Megah is a mature residential development mainly made up of double-storey link houses, shop lots and eateries. This taman calls SS2, Taman Mayang Jaya Taman Bukit Emas, and Damansara Jaya, as close neighbours.
Megah Rise is built across a 3.66-acre freehold site, with a gross development value (GDV) of RM300 million. There will be 228 units atop a retail centre. The development secured 40% to 50% bookings for the condo units, following its soft launch in November 2017. Megah Rise was also the only residential project for the PPB Group in 2018.
Megah Rise has been designed to complement the bustling Taman Megah. Its community-centric mall is expected to better serve the area’s residents, by providing everything they need within a short walk. Megah Rise is expected to be completed in early 2022.
Address: Jalan SS24/9, Taman Megah, 47301 Petaling Jaya, Selangor
Developer: PPB Hartabina Sdn Bhd (PPB Group Berhad)
Property Type: Mixed development (Serviced apartment, with retail component)
Land Area: 3.66 acres
Land Title: Commercial
Tenure: Freehold
No. of Blocks: 1
No. of Storeys: 31 storeys for units, 7 storeys for car park
Total Units: 228 units
Sales Gallery: 80 & 82, Ground Floor, Jalan SS24/2, Taman Megah, 47301 Petaling Jaya, Selangor
Year of Completion: Feb 2022 (estimated)
Built-up Area: 764 sq ft – 1,747 sq ft / 3,232 sq ft
Facilities:
- Flux Pavilion
- Flux pool
- Outdoor shower
- Jacuzzi
- Sunbed lounges
- Kids splash pool
- Spa & sauna garden
- Changing rooms
- Multi-purpose room
- Management office
- Surau
- Cardio garden
- Fun wall corner / tree house
- Children’s playground
- Gymnasium
- Game room
- Calisthenics lawn
- BBQ wings & rain shelter
- Multi-purpose hall
Launch Price: From RM894,800 (listed in brochure)
Launch Price Per Sq Ft: From RM890 per sq ft
Maintenance Fee: RM0.45 per sq ft
Project Details
The site is one of the freehold lands in Petaling Jaya. The condo units will sit on top of the retail centre, complementing the commercial lots in the area.
The residential component at Megah Rise features a 31-storey block with 228 units and a 7-storey carpark, while the 4-storey retail podium is expected to feature grocer, healthcare, food and beverage, a multi-purpose community hall, and a 2-level basement carpark.
The residential’s built-ups from 764 sq ft, and was priced from RM890 per sq ft onwards. Units come furnished with built-in kitchen cabinets (BUÉNOS), kitchen appliances (BOSCH), sanitary wares (Villeroy & Boch), bathroom cabinets and mirrors, and air-conditioners in the living room/dining room, master bedroom and typical bedrooms.
The low-density Megah Rise is designed with comfort, luxury and practicality in mind. Megah Rise feature plans designed to create a sense of elegance and space. There are 8 layout types to choose from, ranging from 1-bedroom units to 3+1 bedrooms units. To accommodate multi-generational families, there are the 4+1 bedrooms duplex penthouses which comes with 3 parking bays.
The Residents Lounge will only be accessible to the building’s occupants. On Level 8, occupants can enjoy the shared spaces including the flux pavilion, flux pool, jacuzzi, spa and sauna, playground, multipurpose hall, fully equipped gymnasium and many others.
The Thematic Sky Gardens have corners filled with lush greenery, and there are 6 such spaces for occupants to visit, when in need of a quick respite. For the full list of facilities at Megah Rise, do refer to the Introduction section.
There’s a 4-tier card access security system, round-the-clock security patrols, and closed-circuit monitors for security. There’s also a dedicated Residents Entrance, which is fully separate from the commercial and retail access.
The mall at Megah Rise will be managed by PPB Properties’ retail team to ensure a well-balanced mix of offerings to complement the neighbourhood’s shops and eateries that bring added vitality to the Taman Megah community.
According to the project’s brochure, units start from RM894,800.
|
Unit Types |
Built-Up |
|
Type A |
· 1,747 sq ft · 3 + 1 bedrooms · 3 bathrooms · Unit 1 · Level 9 to 37 |
|
Type A1 |
· 1,747 sq ft · 3 + 1 bedrooms · 3 bathrooms · Unit 8 · Level 9 to 37 |
|
Type B |
· 764 sq ft · 1 bedroom · 1 bathroom · Unit 3A · Level 9 to 29 · Level 32 to 37 |
|
Type C |
· 1,241 sq ft · 2 + 1 bedrooms · 2 bathrooms · Unit 5 · Level 9 to 16 · Level 19 to 37 |
|
Type D |
· 1,600 sq ft · 3 + 1 bedrooms · 3 bathrooms · Unit 2 · Level 9 to 25 · Level 28 to 37 |
|
Type E |
· 1,129 sq ft · 2 bedrooms · 2 bathrooms · Unit 3 · Level 9 to 12 · Level 15 to 37 |
|
Type F |
· 1,145 sq ft · 2 bedrooms · 2 bathrooms · Unit 6 · Level 9 to 33 · Level 36 to 37 |
|
Type G |
· 1,215 sq ft · 2 + 1 bedrooms · 2 bathrooms · Unit 7 · Level 9 to 20 · Level 23 to 37 |
Location
Residents at Megah Rise will enjoy easy access to Damansara-Puchong Expressway (LDP), Federal Highway, and New Klang Valley Expressway (NKVE), with 2 LRT stations – Kelana Jaya and Taman Bahagia LRT stations – close by. So, getting to work or school would be a breeze.
Megah Rise is indeed in a prime location in Taman Megah. The taman itself is self-contained and sits in the middle of Petaling Jaya with ready amenities for all. Public and private schools, medical care, banks, F&B outlets, markets, and parks, are all available in the surrounding areas.
Accessibility
- Lebuhraya Damansara-Puchong (LDP)
- SPRINT Expressway
- New Klang Valley Expressway (NKVE)
- Kerinchi Link
- Penchala Link
- New Pantai Expressway (NPE)
- Federal Highway
- MRT Mutiara Damansara
- Taman Bahagia LRT – 1km
- Kelana Jaya LRT – 1km
Education
- SK Taman Megah – 1km
- SJK (C) Yuk Chai – 1.1km
- Beaconhouse Sri Inai International School – 1.5km
- KDU College Damansara Jaya – 3km
- The British International School Of Kuala Lumpur
- First City University College
- St. Joseph’s Institution International School Malaysia
- SMK Bandar Utama Damansara 2
- SRK Bandar Utama
- SJK (C) Puay Chai 2
- SJK (C) Damansara
- SMK Damansara Utama 3
Medical Care
- BP Specialist Centre Taman Megah – 1.2km
- Kelana Jaya Medical Centre – 3km
- Columbia Asia Hospital Petaling Jaya – 3.8km
- KPJ Damansara Specialist Hospital – 5km
- Universiti Malaya Medical Centre – 5.5km
Shopping
- Atria Shopping Gallery – 3km
- Starling Mall – 4km
- Paradigm Mall – 4km
- 1 Utama Shopping Centre – 5.1km
- Centrepoint Bandar Utama
- Damansara Uptown
- Glo Damansara Mall
- The Curve
- 3 Damansara
- IPC Shopping Centre
- Tesco Mutiara Damansara
- IKEA
Recreation
- Tropicana Golf & Country Resort – 5.5km
- Taman Awam Bukit Kiara – 5.5km
- Saujana Golf & Country Club – 6km
- Kelab Golf Perkhidmatan Awam – 6km
- Central Park Bandar Utama
- Champion Badminton Court
- Ara Court Badminton Hall
- Central Park Bandar Utama
- Bandar Utama Golf Course
- The Club
- Mutiara Damansara Recreational Park
- TPC (Tournament Players Club)
Analysis
With many businesses and eateries springing up in Taman Megah, more and more individuals and families are choosing the location as a place to call home. As this neighbourhood continues to grow, its value and potential are expected to rise as well.
Megah Rise is marketed as a natural progression in this growth, where residential and retail offerings are expected to inject new energy into the neighbourhood, while welcoming new families into the township.
Some have raised the choice between purchasing a landed property versus a high-rise unit in Taman Megah. The bigger units at Megah Rise are priced from RM1 million onwards, while some double-storey terrace houses in SS24 are priced from RM1.1 million onwards.
Of course there’s the consideration of the facilities and services that come with high-rise developments, and the purchase of older landed properties could lead to extra spending for renovation. Then, there’s the long-term capital appreciation to consider as well. In prime locations, property prices tend to rise together.
Generally, the median asking price per sq ft in Selangor remained positive in Q1 2021. For more about this, refer to the PropertyGuru Malaysia Property Market Index Q3 2021.
Here’s a look at residential properties in Petaling Jaya.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Megah Rise by PPB Properties |
Freehold |
Serviced Apartment |
2022 |
764 sq ft – 1,747 sq ft |
From RM894,800 |
|
Ameera Residences by SDB Properties Sdn Bhd |
Freehold |
Condominium |
2009 |
800 sq ft – 6,160 sq ft |
RM358,000 |
|
Five Stones by SDB Properties Sdn Bhd |
Freehold |
Condominium |
2012 |
1,785 sq ft – 5,183 sq ft |
From RM898,000 |
|
The Grand @ Kelana Damansara Suite by Mediaraya Sdn Bhd |
Freehold |
SOFO |
2016 |
332 sq ft – 1,100 sq ft |
From RM680 per sq ft |
|
The Azure Residences by WCT Land Sdn Bhd |
Leasehold
|
Serviced Apartment
|
2017 |
756 sq ft – 1,815 sq ft |
From RM808,920 |
|
Icon Residenz by Mah Sing |
Leasehold |
Serviced Apartment |
2016 |
675 sq ft – 1,405 sq ft |
From RM570,000 |
|
By Gamuda Land |
Freehold |
Serviced Apartment
|
2019 |
452 sq ft – 840 sq ft |
From RM433,800 |
|
Lumi Tropicana by Thriven Global Bhd |
Leasehold |
Serviced Residences |
2019 |
862 sq ft – 2,218 sq ft
|
From RM 857,650
|
|
Aera Residence by Chin Hin Property Development |
Leasehold |
Serviced Apartment |
2020 |
718 sq ft to 1,010 sq ft.
|
From RM389,000 |
|
Ryan & Miho by OSK Property |
Leasehold |
Serviced Apartment |
2021 |
678 sq ft – 990 sq ft
|
From RM550,000 |
|
Leasehold |
Serviced Residence |
2021 |
670 sq ft – 1422 sq ft
|
From RM800 per sq ft |
|
|
Freehold |
Serviced Apartment |
2022 |
From 922 sq ft |
From RM708,000
|
|
|
121 Residences121 Residences by Glomac Bhd |
Leasehold |
SoHo / Serviced Apartment |
2023 |
450 sq ft & 750 sq ft |
From RM318,000 |
|
Sunway Serene by Sunway Property |
Leasehold |
Serviced Residence
|
2022 |
892 sq ft – 1,788 sq ft |
From RM732,000 |
Summary
Megah Rise is developed by PPB Property, the property division of PPB Group Berhad through its wholly-owned subsidiary PPB Hartabina Sdn Bhd. PPB is not a newbie in the property industry.
While it is more known for its flour milling, animal feed, and cinema businesses, the group has had a long presence in Johor where it developed townships such as Taman Pelangi, Taman Molek, and Taman Ponderosa.
The Southern Marina project represents the move into the high-end, high-rise segment for the group. PPB has a township in Cheras called Taman Segar, and there are also developments in Penang and Kedah.
On the retail front, PPB Group has developed The LINC KL, at the intersection of Jalan Ampang and Jalan Tun Razak. In Penang, their retail/commercial properties include New World Park and The Whiteaways Arcade in Georgetown.
The developer has given the Taman Megah Phase 2 Rukun Tetangga (RT) SS24 representative a hotline number for complaints or issues arising from the project. They’ve acknowledged that PPB Property was responsive and responsible when engaging with residents.
Here are some estimated loan figures for a Megah Rise unit priced at RM1 million.
- LTV / margin of finance: 80%
- Down payment (20%): RM200,000
- Loan amount: RM800,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM3,460
- Approximate required gross annual income: RM139,000*
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* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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