Brickfields had always been a very central but sleepy spot before KL Sentral was built. There were always a handful of tourists who visited the area as they wished to experience Little India for themselves with all its delish food – but it is nothing compared to what it is today.
Holiday seasons now see tourists coming in from all over the world to experience the bustling atmosphere and religious observations of the various churches and temples in Brickfields during festive seasons.
As Kuala Lumpur Sentral took shape, Brickfields transformed. It now hosts a vibrant central business district with modern residential towers while maintaining its rich cultural heritage and “Divine Location”.
There’s friendliness and a good feel about the place. For instance, there are extensive tactile guided pathways to aid the visually handicapped. Home to the Malaysian Association for the Blind (MAB), many visually impaired come here for training and visit the Society of the Blind.
Brickfields had begun to evolve dramatically since KL Sentral’s master developer MRCB planned to develop the area opposite Brickfields in 1996. Completion of the futuristic KL Sentral’s first few phases in early 2000 rejuvenated Brickfields and spurred property values.
As Malaysia’s next-generation CBD, KL Sentral is ultramodern and innovative. For MRCB, a leader in urban, transport-oriented as well as smart-and-green developments, it’s a call to be ahead of the competition.
MRCB has shaped KL Sentral by design. The entire KL Sentral provides a 10GB data backbone, meaning it’s future-ready for upgrades. Its green technology is cutting edge and its location planned to anticipate Kuala Lumpur’s future growth.
KL Sentral was purpose-built with unrivalled accessibility and connectivity via integration with the country’s largest transportation hub, Stesen Sentral.
It’s also designed for MNCs and businesses to thrive side by side, and for a fully integrated urban living.
The multiple rails (adding to this is the MRT in 2017) and bus services passing through Stesen Sentral have increased the market value of all properties within its vicinity.
Brickfields or Little India is now within easy reach from anywhere in and around the capital and beyond as Stesen Sentral has rail links to the KL International Airport and KLIA2 (low-cost carrier terminal).
In fact, Brickfields is third on Airbnb’s 2016 list of the most popular neighbourhoods to visit as travellers are able to move around conveniently thanks to Stesen Sentral nearby.
Meanwhile, the completion of several more commercial properties in KL Sentral has further pushed up the value of and demand for office and retail space in Brickfields as buyers see the potential.
Older shops of two storeys or so that come with five-foot ways are mostly occupied by local businesses such as hotels, restaurants, banks, clinics, convenience stores and hair salons that cater largely to the local community.
Rent for four-storey shopoffices in Jalan Tun Sambanthan in 2015 was between RM6 psf and RM9 psf for ground floors and between RM3.50 psf and RM4.50 psf for the upper floors.
Since the development of KL Sentral, there has been growing demand for shops, evident in both the rental and capital appreciation.
Capital values of shops fronting the main thoroughfare of Jalan Tun Sambanthan have appreciated 40% to 50% since 2010.
Asking rents for older two-storey shops rose from RM11,500 a month in 2010 to RM25,000 in 2014. That for four-storey shops increased from RM15,000 a month to RM35,000.
Many owners were asking from between RM2.5 million and RM2.9 million for two-storey shops in 2015 compared to RM1.5 million and RM1.8 million previously.
Check out one of the upcoming developments that play a big part in transforming Brickfield’s landscape.