The Grand @ Kelana Damansara Suite

  • Caitlyn
  • 4 May 2021

The Grand @ Kelana Damansara Suite is a freehold mixed retail and SOFO development in Kelana Jaya, Selangor. Boutique developer, Mediaraya Sdn Bhd, developed the project and it was launched in 2013. With a gross development value (GDV) of RM190 million, the 2-tower development consists of SOFOs, and it was completed in 2016.

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The Grand SOFO offers a pleasant ambiance within a thriving address in Petaling Jaya. After all, Kelana Jaya is an established residential area with all the amenities. Thus, The Grand SOFO offers good real estate appreciation and rental opportunities as it is surrounded by financial institutions, commercial services, and infrastructure.

Address: Kelana Jaya, 47301, Selangor

Developer: Mediaraya Sdn Bhd

Property Type: SOFO

Land Area: 1.61 acres

Land Title: Commercial

Tenure: Freehold

No. of Blocks: 2

No. of Storeys: 24

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Total Units: 430

Year of Completion: 2016

Built-up Area: 332 sq ft to 1,100 sq ft

Facilities:

  • Pool
  • Gymnasium
  • Landscaped walkway
  • 24-hour security

Launch Price: From RM214,200

Launch Price Per Sq Ft: From about RM680 per sq ft

Project Details

The Grand @ Kelana Damansara Suite is developed across 1.61 acres, and it has 430 SOFO units. The built-ups are from 332 sq ft to 1,100 sq ft, and prices started from RM680 psf. The project was completed in June 2016 and is fully taken up.

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As for facilities, The Grand @ Kelana Damansara Suite offers tenants and residents a landscaped garden, a pool at the clubhouse deck, gymnasium, and lounge chairs to chill on. The development also offers security system that includes 24-hour security, card access and CCTV surveillance. The entrances for residents and visitors to the retail shops are separate.

During its launch, it was considered affordably priced, and that attracted investors. Subsequently, the residents of The Grand @ Kelana Damansara Suite can either sell their units or rent them out.

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Tower

Details

The Grand Tower 1

·         262 units

·         Level 6 to 29

·         Type A, B, C, D

·         332 sq ft – 1,110 sq ft

The Grand Tower 2

·         168 units

·         Level 6 t o17

·         Type E & F

·         347 sq ft – 775 sq ft

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Location

The Grand @ Kelana Damansara Suite is nestled in a prime location on Kelana Jaya. This Small Office Flexible Office (SOFO) development enjoys the conveniences of everything the matured neighbourhood has to offer. The popularity of SOFOs have grown over the years, and this development proved to be rather popular among renters and purchasers.

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The Kelana Jaya area is surrounded by all types of amenities (check out the list below) and very mature areas such as Taman Megah, SS2, Ara Damansara, Bandar Utama, and Sunway, among others. It is one of the popular residential areas in Petaling Jaya, and residents need not go far to run daily errands. There’s Paradigm Mall, Giant Mall, Giant hypermarket, 3 Damansara, and Sunway Pyramid, just a short drive from The Grand @ Kelana Damansara Suite. Pejabat Pos Kelana Jaya is also just around the corner.

The Kelana Jaya LRT station is about 1km from The Grand @ Kelana Damansara Suite, and residents can also opt to drive and use major highways such as Lebuhraya Damansara Puchong (LDP), SPRINT Expressway, New Klang Valley Expressway (NKVE), and Federal Highway, to name a few. 

Accessibility

  • Damansara-Puchong Highway (LDP)
  • Federal Highway
  • Lebuhraya SPRINT (SPRINT Expressway)
  • Kelana Jaya LRT station 

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Education

  • Lincoln University College
  • Universiti Tunku Abdul Razak
  • SK Sri Kelana
  • SMK Kelana Jaya
  • SMK Seri Permata
  • Nobel International School
  • Innovative International College
  • Malaysia University of Science and Technology (MUST)
  • Kolej Damansara Utama (KDU)
  • IFTC International Academy of Fashion & Design
  • SK Taman Megah
  • SJK (C) Yuk Chai
  • SK Kampung Tunku

Medical Care

  • Kelana Jaya Medical Centre
  • BP Specialist Centre Taman Megah
  • Hospital Universiti Malaya

Shopping

  • Paradigm Mall
  • Giant Mall Kelana Jaya
  • Giant supermarket Kelana Jaya
  • Zenith Corporate Park
  • Pasar Taman Megah SS24
  • Evolve Concept Mall
  • 3 Damansara
  • Atria Shopping Centre
  • LDP Furniture Mall
  • Parklane Commercial Hub
  • Sunway Pyramid

Recreation

  • Kelana Jaya Stadium
  • Tasik Kelana Jaya
  • Padang Bola SS5C
  • Yamaha Music
  • SS3 MBPJ Multi-purpose Hall
  • Kompleks Sukan PKNS
  • X Park Sunway Serene
  • Kelab Golf Negara Subang
  • Subang Ria Recreational Park
  • 222 Sports Centre PJ
  • Ara Damansara Park
  • Tropicana Golf & Country Resort
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Analysis

Some purchasers reported good quality, despite the project being developed by first-time developers. However, as the development is beside the LDP, there has been comments on sound and dust pollution.

Regardless, The Grand @ Kelana Damansara Suite has still proven to be popular. This is largely attributed to its strategic location, which is walking distance to Universiti Tun Abdul Razak (UNIRAZAK) and Lincoln University College. Apart from student renters, the working population also favours this property as it is close to the offices at Sunway as well.

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Available listings in PropertyGuru in April 2021 show that the asking monthly rental for 933 sq ft units are from RM1,800 to RM1,900, while purchase prices are asking from RM545,000 to RM750,000. Based on these figures, the approximate gross rental yield is as below:

  • Purchase price: RM600,000
  • Rent out: RM1,850 per month
  • Gross rental yield: About 7% per annum

Here’s a look at residential properties in Kelana Jaya / Petaling Jaya.

Project

Land Tenure

Property Type

Completion

Built-up

Approximate Launch Price

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

Kelana Parkview Condo by Majlis Bandaraya Petaling Jaya

Freehold

Condominium

1997

980 sq ft – 1,239 sq ft

From RM500,000

Sterling Condominium by South Malaysia Industries

Leasehold

Condominium

2008

1,259 sq ft – 1,902 sq ft

From RM200 per sq ft

Icon Residenz by Mah Sing

Leasehold

Serviced Apartment

2016

675 sq ft – 1,405 sq ft

From RM570,000

HighPark Suites by Gamuda Land

Freehold

Serviced Apartment

2019

452 sq ft – 840 sq ft

From RM433,800

Sunway Serene by Sunway Property

Leasehold

Serviced Residence

2022

892 sq ft – 1,788 sq ft

From RM732,000

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Summary

Founded in 2005, Mediaraya’s other projects include Grand Subang in SS13 and SS15, Subang Jaya. The Grand in SS13 was launched in Subang in 2016. With a GDV of RM286 million, the development was handed over in 2020. The freehold SOFO development offers 578 units in two 22-storey towers. The development is almost fully taken up. Mediaraya also operated the Asia Café chain with outlets in the Klang Valley, but has since stopped its food and beverage business. 

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If you’re interested in a 933 sq ft unit at The Grand @ Kelana Damansara Suite that’s priced at RM600,000, here are its estimated loan figures.

  • LTV / margin of finance: 90%
  • Down payment (10%): RM60,000
  • Loan amount: RM540,000
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM2,425
  • Approximate required gross annual income: RM94,000*

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Want to change the loan figures? Use these calculators:

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.

*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.

 

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Eric Wong

Caitlyn

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