Within the Bandar Sri Damansara enclave (specifically, inside Damansara Avenue) is the upcoming Ativo Sofo development – a rather high profile project by TA Global. Ativo Sofo is a part of a larger project in Damansara Avenue which complements other nearby developments (which includes upscale condominiums, outlets, restaurant joints, hotels and other commercial establishments).
According to an agent who PropertyReviews.my editors spoke to, Ativo Sofo is an “apt development for the new age hardworking professionals who still wish to enjoy a well balanced melding of life and work.” Typical salesperson speak. We’ll investigate if this is true
Soho, Sofo, Sovo – what’s the big deal?
Ativo Sofo is comprised of two towers with 970 freehold units. Construction was started back in August 2010, and is said to be completed within a 7 to 10 years time frame. Ativo aims to appeal to the young urban professionals who want to design their lifestyle around their work with its offerings of small offices (hence the moniker “SOFO“) surrounded by the usual commercial amenities you would expect from a mixed or integrated development.
This has been the trend for new projects since the last few years; the success of integrated developments such as Empire Subang, Empire Damansara as well as Setiawalk in Puchong may be a testament to this. Even in Mont Kiara there are “clusters” of combined residential and offices such as Gateway Kiaramas or huge retail areas like Solaris Dutamas. We would expect this trend to continue to dominate new launches in the Klang Valley for the next couple of years. Soho-exclusive developments such as Binjai 8 in KLCC are also getting more widespread nowadays.
In short – Ativo Sofo’s value proposition is sound.
Build up and floor areas will vary depending on the type of property you are looking into. For condominiums within Damansara Avenue, units will vary between 600 sq. ft. to 2,200 sq. ft. and may consist of 1 to 3 bedrooms. Condominiums will be launched in several phases and will mostly occupy the north to east side of the town.
As for AtivoSofo office suites, choices in terms of floor sizes is between 547 sq. ft. and 4,094 sq. ft. These new and modern offices will be launched during another phase in the development of the Damansara Avenue, which is sometime in the last quarter of the year. Reportedly, launch price for Ativo Sofo will start from RM 300,000 to as much as RM 450,000. Is this fair price? Download our valuation guide to answer this very pertinent question.
Office suites offered by AvitoSofo will also boast practical facilities that will further facilitate efficiency and great productivity at work. In addition, the office suite will also have a children’s play area hence a nice interweaving of work and home life for professionals with kids. We like that a lot.
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Enviable location and impressive modern ambiance aside, AtivoSofo is an attractive property in itself because it provides good accessibility via a plethora of highways. These include the Middle Ring Road 2, Damansara Puchong Expressway, Penchala Link and the North Klang Valley Expressway. The Damansara Avenue project is near Desa Park City and Bandar Manjalara as well as Sunway SPK Damansara (all three locations about 5km away), giving the property a rather strategically accessible location.
Everything is within reach in Damansara Avenue – from an upscale business class hotel to a retail mall, education center and a hospital as well as performance arts and recreational centers. Majority of the amenities that a working professional needs are a few minutes of driving away. Also found in the vicinity are other amenities such as the Sri Damansara Club and schools such as SRK Bandar Sri Damansara and Sekolah Sri Bestari. The very popular Mutiara Damansara malls (IKEA, the Curve, Ikano) are also nearby.
What We Think
With the current wave of “integrated developments” we expect to see more of these in the coming months and years; Ativo Sofo seems to address a rather pressing need among young urban professionals where “lifestyle design” is no longer a vogue-ish concept but of necessity. Also, at a “entry level friendly” price (RM300,000 starting point) the appeal is broad and wide. We should also see investors (green and seasoned) flock to this project like flies to light.
As always, developer reputation is a mint in Malaysia property, and TA Global has got a rather enviable track record in the Klang Valley. Much is at stake here with with the Damansara Avenue project which is fast becoming TA’s “signature” project, and you can bet to your bottom ringgit that they won’t screw it up. Aside from the upcoming Ativo Sofo’s launch, projects in the the Azelia Residence and Idaman Residence in KLCC. There are also other projects abroad particularly in Australia and Canada (see The Star coverage here).
Considering the impressive masterplan and the astounding gross development value of RM3.8 billion for Damansara Avenue, there are indeed huge expectations for it to succeed. Chances are good that Damansara Avenue will make it since similar mixed developments such as the nearby Desa ParkCity (and elsewhere like Ara Damansara and Bukit Jelutong) have been mostly successful. And with the shift in lifestyle patterns where more young professional Malaysians are preferring to work and live at one place, Damansara Avenue shows good promise.
At this point, we are still unsure how it will fare in the sub sale market (for investing purposes) as the variables are just too many. To help you estimate the fair market value for Ativo Sofo (or any other property for that matter), here’s a property valuation guide which you can download for free once you entered your details in this form below.