This article is part of a series exploring property projects along a key stretch of the Damansara-Puchong Expressway (LDP). Stay tuned to Smart Investor for more updates!
One of the most recent developments along the Golden Mile, situated at its northernmost point at the intersection of the LDP and Jalan SS 2/3 heading into Kelana Jaya, Megah Rise is the brainchild of developer PPB Hartabina Sdn Bhd.
The property development arm of agribusiness giant PPB Group Bhd, PPB Hartabina is a relatively fresh face in the property scene, primarily known for its Masera Bukit Segar bungalow development in Cheras and Taman Tanah Aman housing project in Seberang Prai, Penang.
Delving into residential projects across Johor and Kedah as well, the developer vaulted into the national spotlight in August last year with the announcement that it would be undertaking the construction of Megah Rise, a mixed development featuring luxury residential units and three-storey retail podium on the site of the iconic Ming Tien food court and nightlife hub in Taman Megah.
It is an ambitious step for the developer, given the prominence of the project as well as its upmarket positioning. However, PPB Hartabina is no stranger to challenges and the opportunities that come with them – and certainly, the backing of the Robert Kuok-founded PPB Group doesn’t hurt.
“PPB Hartabina is a boutique developer which emphasises on quality, rather than quantity. We strive to be the best in what we do, without the pressure of adding more units to the market, but instead focussing on how to build better homes for our purchasers,” said the developer in an email interview.
“Our core belief is reflected in Megah Rise, where the development is planned as a low density residential project amidst a mature neighborhood with easy access to all of life’s conveniences. It is all about the quality of life that our customers will enjoy when they live here.”
The integrated development spans 3.36 acres in total, with a residential gross development value (GDV) of RM315mil. Its condominium component comprises 228 units in a single block with built-ups from 764 – 3,232 sq ft. Prices range from RM890psf, with a current residential take-up rate of 50%. Megah Rise is scheduled for completion by Q1 2022.
PPB Hartabina cites the area’s connectivity as the primary pull factor for the developer’s venture into Kelana Jaya, particularly its location between retail hotspots such as Sunway Pyramid, One Utama and IKEA Damansara for convenient window shopping and food hunting.
“However, we would like to see the LDP widened, as well as the surrounding roads coming into Megah Rise, as they are known for traffic congestion. PPB Hartabina will also work hand in hand with the local authority to beautify the landscaping as well as upgrade the existing drainage infrastructure surrounding Megah Rise, for the comfort of the people of Taman Megah,” said the developer.
“The closure of Western Digital’s Petaling Jaya facility will likely see the undertaking of an integrated development on the site in the future. While we do foresee an extra influx of supply in condominium units along this stretch of the LDP, we remain confident in Megah Rise’s prospects due to its focus on the needs of purchasers.”