Right at the entrance of the Damansara Perdana enclave is a mixed development from Paradigma Intan, a wholly-owned subsidiary of long-time property developer Emkay Group. The property sits on 7.64 acres of leasehold land and is made up of spaces for retail shops, offices and residences. It is near Empire Damansara and the PJ Trade Centre (where LHDN is), and a stone’s throw away from the cluster of malls comprising of The Curve, IKANO, IKEA and Tesco. The Damansara Perdana enclave is a bustling community with lots of amenities. It is situated away from the hustle and bustle of the city centre, making it a popular home choice for relatively conservative home buyers. It is situated about 15 kilometers from the city center, with Mont Kiara in between them.
We checked current listings in local property hubs, and as of writing, asking prices for residential units at Neo Damansara range from RM735 psf to RM870 psf. Listings for a similar development, Empire Damansara, indicate asking prices somewhere between RM540 psf to RM820 psf. To check if these are “fair” prices to pay for units here at Neo Damansara, use our property price valuation guide.
We also checked for rental rates and found that Neo Damansara units are let from RM2.59 psf to RM4.75 psf, depending on whether the units are unfurnished or furnished. Empire Damansara units rents out at a range slightly lower, from RM2.30 psf to RM3.00 psf.
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Neo Damansara 101
Neo Damansara is comprised of three stages with stage one being 100 percent complete and handed over to buyers. This stage includes 70 units of shophouses, 14 units of en bloc offices and a 12-storey tower housing 84 units of residences, penthouses, retail shops and offices, bringing the total number of units for phase 1 to 168.
Phase 2 of the development involves a serviced apartment tower that will house 347 units. The last phase will be an office tower plus an 8-storey building that will be utilised as an entertainment center with spaces for trade displays and showrooms. The entire development is seen to be completed by 2013.
The residential units of Neo Damansara have built-up sizes ranging from 421 sqf to 943 sqf. Units are finished with quality timber doors, aluminum framed windows and ceramic tile floorings. Floor layouts to choose from include studio and 2+1 bedrooms. Standard facilities are provided by Neo Damansara to its residents and include surau, reading room, children’s play area, multi-purpose hall, adult and children’s pool, reflective pool, sauna and gym.
What We Think
Location-wise, we think that Neo Damansara has an advantage over Empire Damansara, which is located about two kilometers into the Damansara Perdana enclave. Neo Damansara, being right at the enclave’s entrance is more accessible, especially if you move around a lot. Whether you are using private or public transportation, the convenience that Neo Damansara offers will still save you two kilometers worth of gas and/or time. However, if you are more concerned about privacy, Empire Damansara might be a better option for you.
There is now a noticeable trend within the Malaysia property market that mixed developments are getting much traction than before especially in “fringe” locations outside the KL city – this is understandable as the population grows and the traffic congestion problem worsens. As far as residential units are concerned, they are somewhat limited here in Neo Damansara to small, SOHO units, but with the increasing demand of these types of properties we might see superior capital yield in the long term. As with any investment, the price you pay will largely determine the returns; to check what’s the fair market price for Neo Damansara units use this guide below which you can download for free –