With the huge success of Pavilion Bukit Bintang and the reputation of the brand, the upcoming Pavilion 2 in Bukit Jalil City has attracted attention from property investors both locally and globally.
The 2 million sq ft Pavilion 2 aims to become the next regional mall and amongst the most popular malls in the Klang valley. It is the strategic component of the ambitious 50 acre Bukit Jalil City integrated development with residential, commercial, office and retail components. For your information, Bukit Jalil City is located about 18km from KLCC Petronas Twin Towers. (Waze estimation)
According to latest report, the commercial shop lots are already sold out. The Park Sky Residence which consists of 4 tower blocks of 40 and 46 storeys are almost sold out. Currently the focus point is the Park 2 luxury condo which has a dedicated link bridge to the Pavilion mall. The price is starting from RM850 psf. One of the selling points of The Park Sky Residence and The Park 2 is the sprawling 80-acre park in front of it. Advertisement Post: Park 2 Luxury Condo is opened for sales now.
But, forget about the 80 acre Bukit Jalil Park. The key and strategic component of Bukit Jalil City is definitely the Pavilion 2 shopping mall and its other integrated features, right? The million dollar question is whether Pavilion 2 will become a huge success just like the current Pavilion?
From a shopping mall management and planning perspectives, with Pavilion’s proven capability and track record, I have 100% confidence that Pavilion 2 will be a sexy and beautiful mall upon its completion.
To expect Pavilion 2 to achieve the same success of Pavilion Bukit Bintang will be a challenging target for this upcoming mall because the original Pavilion is located at the Golden Triangle prime location at the heart of Kuala Lumpur. To expect it to become the next Mid Valley megamall is also not realistic because the latter is a ‘super heavy weight’ regional mall and you can safely say it’s the most popular mall in Malaysia at the moment.
Fortunately, Pavilion 2 is not too far away from Kuala Lumpur (18km from KLCC Twin Towers) and it’s accessible via MRRII & Kesas highway. If it’s able to showcase the uniqueness and special shopping experience, then shoppers will not mind to purposely drive their cars to reach there to realize it as a new regional mall.
If you study the map carefully, you will find the upcoming Pavilion 2 @ Bukit Jalil is sandwiched between all major communities like Kuala Lumpur City, Petaling Jaya, Puchong, Putrajaya and Cyberjaya areas. Given the fact that it is also a Freehold property makes it more desirable for investor.
Many investors will ask whether the surrounding new condo developments which are cheaper in price would affect the ROI potential of The Park 2. First of all, they are totally different class of condominiums and the ‘walkability index’ of The Park 2 is much higher than other condo without the direct link bridge to the Pavilion mall. So I think the overall risk is still very low if you pick The Park 2 as the safer investment choice. For own stay purpose, then the only ‘risk’ is whether you can afford only, the condo will surely be a pleasant place to stay in.
However, there is still one concern of the traffic control around the area and hopefully the new mall won’t cause massive jams because the roads leading to this area seem to be relatively small. Fortunately lately we see there are road widening constructions around the area and that should address the issues.
Passing by the construction site of Bukit Jalil City certainly gives me a feeling that it will be something big upon its completion in 2019. In conclusion, I think this is something to watch out for and worth a further study and consideration from property investment stand point, especially for the long term, or even for own stay purpose if you buy the condo there to enjoy the convenience of world class shopping anytime by just a short walk away.
Advertisement Post: Park 2 @ Bukit Jalil Open For Sales (MORE PHOTOS)
Advertisement Post: RUMAWIP RUMAWIP RUMAWIP @Kepong KL (Pre-launch) 300k Only !!! March 1, 2017
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Review by James Chow