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Continue Reading ⋅ 30 January 2023
Artist’s impression of Paramount Utropolis. Pic taken from the website.
Paramount Utropolis: The review class begins.
The concept of the development is ‘university metropolis’, whereby a whole development is based on an institution much like how it is with Harvard University. Simply put, imagine a miniature township where people can live in houses, play from all the available amenities and facilities, and learn from a university, all in one small place. There will be six blocks of serviced apartments, two blocks of lifestyle suites, and one commercial marketplace building, along with KDU University College Utropolis sprawled across 10 acres out of the whole 21.7-acre project site.
Project Details.
Address: Glenmarie @ Section U1, Shah Alam
Land Title: Commercial
Tenure: Freehold
Site GPS Coordinates: N 3°05’33.5″ E 101°33’35.3″
Website: http://www.utropolis.my/
Expected Date of Completion: 2017/2018
Property Details
Property Type: Serviced Residences and SOHO
Total Units: 1,035 Serviced Apartments, 428 Lifestyle Suites
Built Up: From 447 Sq. Ft to 1202 Sq. Ft.
Listing Price: From RM335 000 to RM920 000
Price per Sq. Ft.: Starting from RM750
Maintenance Fee per Sq. Ft.: RM0.35
Car Park Bay per Unit: Starts from 1 per unit
Special Features:
- A university based metropolis
- Dual-Key Units (for some unit types)
- Fully-furnished with dual function furnitures (for some unit types)
Facilities:
- Multipurpose Halls
- Gymnasium
- Swimming and Wading Pool
- Landscaped Garden
- Reading Room
- Games Room
- Surau
Unit Type:
- Type A: 1066 Sq. Ft. ▫ 3 Bedrooms, 2 Bathrooms, 2 Car Park Bays
- Type B: 890 Sq. Ft. ▫ 2 Bedrooms, 2 Bathrooms, 1 Car Park Bay
- Type C: 635 Sq. Ft. ▫ 1 + 1 Bedroom, 1 Bathroom, 1 Car Park Bay
- Type D: 1202 Sq. Ft. ▫ 3 Bedrooms, 3 Bathrooms, Dual-Key Concept, 2 Car Park Bays
- Type E: 1030 Sq. Ft. ▫ 2 + 1 Bedrooms, 2 Bathrooms, Dual-Key Concept, 2 Car Park Bays
- Type F: 1,162 Sq. Ft. ▫ 3 Bedrooms, 2 Bathrooms
- Type G: 797 Sq. Ft. ▫ 2 Bedrooms, 2 Bathrooms
- Type S1: 447 Sq. Ft. ▫ Open Plan, 1 Bathroom, SOHO Unit, Lifestyle Suite
Project Details
Paramount Utropolis 411.
411 means information, and that’s exactly what you’re gonna get on Paramount Utropolis.
So far, two phases have been launched i.e. Phase 1 and Phase 2. In Phase 1, there are three types of serviced apartments offered namely Utropolis Suites Type A (1066 Sq. Ft.), Utropolis Suites Type B (890 Sq. Ft.), and Utropolis Suites Type C (635 Sq. Ft.), all that were launched in “ballot” and are already sold out. Ballot here in property-talk means that the units were sold to the people on the inside first meaning the staffs and the share-holders, mostly as a token of appreciation for all their hard work.
In Phase 2, the first type that was launched is the Lifestyle Suites that carries the concept of SOHO units. With built up size of 447 Sq. Ft. and 428 units in total, they are however already all taken up as well. Which brings us to Tower C and Tower D of Phase 2. One can choose from the four types offered: Type D (1202 Sq. Ft.), Type E (1030 Sq. Ft.), Type F (1162 Sq. Ft.), and Type G (797 Sq. Ft.) with Type D and Type E posing as dual-key units.
What’s that you ask? It’s basically a unit that can be split into two. Type D for example has three bedrooms and three bathrooms, and yet a common foyer having two doors separates one each of the bedroom and bathroom from the other two. The same goes for Type E that has two bedrooms, one study, and two bathrooms where one bedroom and one bathroom are separated.
Which makes for an interesting investment. A conservative Malaysian family for example can then live in the bigger side of the unit whilst at the same time rent out the smaller half to a tenant.
Dual Key concept for Paramount Utropolis. Pic taken from the website.
The selling point for Phase 2 however is the fact that people can choose to own a unit in Tower C where all are sold unfurnished except for some free electrical appliances, or pay slightly more for a fully-furnished unit in Tower D. What makes it even more interesting is that the furnitures fitted and given are the dual-function, space-saving kind.
Take this Transformer Table for example that can be expanded and its height adjusted to one’s desire. From a normal size coffee table, it can then become a family dining table or even a games table.
Paramount Utropolis’ dual function furniture: Transformer Table.
These sofas that double as beds with built-in mattresses is really convenient for when you’re having friends or relatives for a sleepover. Pull them out for a good night sleep, and put them away again for a nice hang-out spot.
Paramount Utropolis’ dual function furniture: Sofa beds.
In the master bedroom, owners can choose to either have two single beds with a slight partition in the middle, or have the partition taken down and the room refurnished around a queen size bed.
Paramount Utropolis Master Bedroom for Type D.
In bedroom two, there’s a double decker wall bed that also serves as study tables and shelves.
Paramount Utropolis’ dual function furniture: Double decker wall bed.
In Type D’s bedroom three, the one that’s separated from the other two rooms, one can get two beds from a sofa and a study desk. From an easy set-up, this two-seater sofa turns into a comfy queen size bed.
Paramount Utropolis’ dual function furniture: Bedroom 3’s Sofa Bed.
The fitted study desk can be turned into a single bed, perfect for those looking to burn some midnight oil during exam weeks or catching up with tight deadlines.
Paramount Utropolis’ Bedroom 3’s dual function furniture: Study table/Single bed.
The dual function furnitures have warranties of up to two years and are imported all the way from Italy. All Tower D and Tower C units come with electrical appliances like a two-door fridge, a kitchen hood, air-cond units, a two-in-one washer and dryer, water heaters and more, that are of high quality brands like Electrolux and Panasonic.
Some of the electrical appliances given for Paramount Utropolis’ Tower C & Tower D units.
Though there’s not much to highlight on, Paramount Property doesn’t exactly disappoint in the facility department. Luxury facilities like hammock garden, steam and sauna room, and tennis court aside, there are the standard swimming and wading pool, gymnasium, reading and gaming room, multipurpose hall, and landscaped garden offered to the residents there. One can even grade it as being in the second class upper honours.
Artist’s impression of the swimming pool. Pic taken from the website..
Artist’s impression of the commercial marketplace. Pic taken from the website.
Location
Rough sketch on Glenmarie (Section U1) Shah Alam area. Pic taken from Google Maps.
Glenmarie 101.
Glenmarie or Section U1 Shah Alam is one of the many sections (56 sections to be exact) in Shah Alam, the state capital of Selangor. And all these sections have a specific theme used to name the streets within it. For example, Section 7’s theme is ‘Diamond and Minerals’ so naturally, you will find street-names like Jalan Ferum (English: Iron) and Jalan Magnesium. Glenmarie carries the theme ‘Kerjaya’ (English: Careers) and is located in the northern part of Shah Alam, approximately 6 kilometres away from Shah Alam City Centre, and neighbours Subang Jaya – Petaling Jaya’s southern district.
And what are the odds that Glenmarie’s section theme is ‘Careers’? It’s like one can imagine Confucius, the scholarly sage himself nodding in approval at KDU Utropolis choice of address.
Located along Jalan Kontraktor U1/14, Paramount Utropolis is literally located right beside Hicom-Glenmarie Industrial Park, an industry area in Glenmarie that houses a bunch of big and medium scale factories like Proton, Toshiba, Mercedez Benz, and Domino’s Pizza, and surrounded by four major highways namely the Federal Highway, the New Klang Valley Expressway (NKVE), the North-South Expressway Central Link (ELITE), and the Guthrie Corridor Expressway, all that eventually lead to Kuala Lumpur, Damansara, Putrajaya, and Rawang respectively.
To Glenmarie from Sunway/Subang.
To Glenmarie from Sunway/Subang.
To Paramount Utropolis from Jalan Pengaturcara.
To Paramount Utropolis from Persiaran Kerjaya.
There are lots of amenities one can easily find within a 5-km radius of Glenmarie area. For example in Section 13 Shah Alam which is a mere 1.5 kilometres away, one can choose from a bunch of hypermarkets like Giant and Tesco to go to apart from a soon to be opened AEON mall. There are also Go-kart Track, MBSA Extreme Park, Shah Alam Stadium, and Melawati Indoor Stadium conveniently located in the same area, perfect for those who love active activities. Subang Jaya SS16 or better known as Subang Jaya City Centre which is less than 3 kilometres away houses the likes of Subang Parade Shopping Centre and the Empire Shopping Gallery, whilst Subang Jaya Medical Centre (formerly known as Sime Darby Medical Centre) can be found relatively nearby in Subang Jaya SS12.
Safe to say, Glenmarie is in the right course (hah!) of being the next hotspot in town.
Stadium Shah Alam & Giant Shah Alam. Pics taken from the websites of Pinterest & Alam Gapura.
Shah Alam Xtreme Park & Empire Shopping Gallery. Pics taken from the websites of Anjung Nuri & Gogobot.
Analysis
The marking guidelines for Paramount Utropolis.
Less than 2 kilometres away from Paramount Utropolis lies Temasya Kasih, a high-end condominium by I&P Group, and is the seventh phase of the Temasya Glenmarie development project. There are seven types of units offered with built-ups starting from 936 Sq. Ft. to the biggest 2917 Sq. Ft. duplex unit. Just like Paramount Property, this developement also offers modest facilities to its residents such as an infinity swimming pool, a multi-purpose court, and a children playground.
Rough sketch on locations of Paramount Utropolis. Temasya Kasih, and nearby amenities. Pic taken from Wikimapia.
| Name | Tenure /Land Title | Approximate Price (per Sq. Ft.) | No of Blocks / No of Units | Car Park Bays | Furnishing |
| Paramount Utropolis | Freehold/Commercial | Starts from RM750 | 8 / 1463 | 1 for smaller units, 2 for bigger units (>1000 Sq. Ft) | Non Furnished & Fully Furnished |
| Temasya Kasih | Freehold/Residential | Starts from RM664 | 2 / 114 | 2 for smaller units, 3 for bigger units (>1800 Sq. Ft) | Semi Furnished |
Clearly Temasya Kasih wins in many aspects and may even win some more in capital appreciation, but in terms of rental yield, there’s a high chance that Paramount Utropolis will fare better since it’s nearer to KDU students. Another plus point for Paramount Utropolis is its commercial marketplace that will prove to be a much needed convenient.
Paramount Property: The beginner’s guide.
A little history check would’ve revealed that Paramount Corporation Berhad, the mother company for Paramount Property was once known as Malaysia Rice Industries Berhad since the group’s main business back then was rice milling before it was restructured into property development 35 years ago in 1980. The group even has an education arm called Paramount Education that started around the same time.
And history itself has then taught us that Paramount Property is pretty good at what they do especially in developing townships across Klang Valley and Sungai Petani like Kemuning Utama and Bandar Laguna Merbok. When they decided to grow their portfolio to include other types of development like residential, commercial, education, industrial and integrated, they performed fairly well in those areas too with Surian Industrial Park, Bukit Banyan Homes, and KDU University College being some of the examples.
Which brings us to now, on the subject of Paramount Utropolis. As a project with the objective of building a 21.7-acre worth of mixed development comprising serviced residences and commercial marketplace that’s anchored by KDU University College flagship campus: KDU Utropolis, Paramount Property (as one can say) need to hit the books to ensure its success.
Summary
Paramount Utropolis: The assessment.
Paramount Utropolis brings with it the concept of a university based metropolis, and the first in Malaysia. In terms of location, Glenmarie holds a lot of potential especially in the near future once land in Kuala Lumpur and Selangor is scarce. There are pros and cons to the residential units being built with KDU students in mind. Price-wise, it would be a challenge for owners to breakeven with their investment.
The KDU Utropolis Student Accommodation can house up to 580 students and the fee may go up to RM950 per month per bed. Which leaves 6420 potential student tenants from the 7000 students admitted per semester. Let’s take a Type D unit in the highest floor of Tower C that will come unfurnished except for the electrical appliances mentioned. At RM765 per Sq. Ft., the unit will then costs around RM920 000. Assuming one were to get 90% approved loan with 10% discount (be it early-bird discount, bumi discount etc.) of 4.4 p.a. for a 30 years period, one would then have to pay approximately RM4150 in mortgage repayment. Including the maintenance fee of RM0.35 per Sq. Ft. one would then have to pay an additional RM420 totalling RM4570 per month. Since there are three bedrooms in Type D, one would have to rent out to a minimum of six students per house on a RM850 per head basis to breakeven, taking into account also the costs to fully furnish the unit and the miscellaneous fees when buying it (loan legal fee, S&P legal fee etc.) that can go up to as much as RM50 000 in total.
The question is, will the students be convinced of a shared-room basis (two beds per room, 3 rooms per unit) or will they opt to rent somewhere cheaper whilst at the same time ensuring more privacy? A cosy master bedroom in a condo in other parts of Shah Alam for example may only cost around RM800 so a wise reassessment on the pricing may be needed here if the project is to retain its investment value.
