Wednesday, December 3, 2008

Better Times Ahead in Puchong

With the rapid growth of Puchong population and consequent increase in the customers' base, IOI Mall has built another annexe to the main mall that has stood for more than 10 years. The extension of the IOI Mall will cost RM70mil adding 300,000 sq ft of space to the existing 670,000 sq ft mall and will be ready by end of the year. Even the new slip road from the LDP has already been completed.The RM330mil IOI Boulevard (office and commercial) directly opposite IOI Mall will be coming on stream next year. The focal point will be the glass canopy-covered centre courtyard called Fusion that will be a covered street with lush landscaping and water features, complete with alfresco sidewalk cafes. Will check on the tenant's mix later.
IOI Boulevard
SetiaWalk just diagonally opposite (1km) that of IOI Mall will also be taking shape in the next few years. Project belongs to local property behemoth S.P. Setia. It is positioned as a one-stop boutique lifestyle centre that appeals to the trend-conscious younger clientele, the integrated residential and commercial development comprises retail blocks, offices, an entertainment complex, service apartments and residential apartments.
Setia Walk
With the increase in customer base there can be more differentiation. Investors have noticed. It was hard to shop for upmarket items for many years. For example I can't get a pair ofLevi's jeans in Puchong. Dome could not survive and has to pack up 2 years ago.

I feel this will change soon despite the financial tsunami in the western world. More specialty and life-style shops will come. The prize will be the residents in the later high-end developments in Bandar Kinrara, Bandar Puteri (900+ acres), Lake Edge, Puchong Hartamas and Setia Walk (20+ acres) high-end condos that have and will come up.

2 comments:

CUMI & CIKI said...

buy buy buy!

worldwindows said...

Too bad I left a few months ago!