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Founders Properties is a
registered estate agency located at
Oval Damansara,
Kuala Lumpur.
The agency has a strong presence in Kuala Lumpur area with a team of
professionally qualified and licensed negotiators, each having an
extensive knowledge of the major residential and commercial areas of
Kuala Lumpur and surrounding districts.
Oval Damansara, Kuala
Lumpur
Oval Tower (also known as Oval Damansara) is a 34-storey corporate
office tower located in Damansara. It is dubbed to make a new
landmark of Damansara with its full glass facade and majestically
located adjacent to Sprint Highway and in between SS2, TTDI and
Damansara Utama.
Besides its full glass feature as its facade, the other prominent
features of Oval Tower include 12 lifts, facilities deck on the
podium rooftop, 24-hour security (including a turnstile system), and
10ft high ceiling. The first 4 levels of the 34-storey building are
for retail shops and a private club. There are a total of 220 units,
with intermediate size at 1,500 sf.
Oval Tower is well surrounded by a vast array of amenities nearby.
Just across the road there is Tropicana City Mall (with Carrefour
and GSC as its anchor tenants) and Damansara Intan Business Park.
Besides that, it is within close proximity to One Utama Shopping
Centre, The Curve, Tesco Damansara and IKEA.
Property Details
• Name: Oval Tower (also known as Oval Damansara)
• Address: Jalan Damansara, Off Lebuhraya Sprint, Batu 7, Taman Tun
Dr Ismail, Kuala Lumpur
• Developer: Monoland
• Completion Date: End 2012
• Type: Office Suite Tower (with retail lots)
• Tenure: Freehold
• Built-up: About 1,500 sf
• No. of Blocks: 1
• No. of Storey: 34
• No. of Units: About 300
• Launch Price: From RM270 psf
Facilities
• 24-hour security
• Basement car park
Analysis
There is some doubt on this development by investors since Oval
Tower is right next to a Muslim cemetery. However, according to the
design plan, most units are designed to face the south (SS2).
Besides that, not all properties which are very near to cemetery not
doing well; as Menara Public Bank, Seri Maya Hotel, and Menara
Ampang are doing quite well. The ones that are affected the most are
residential development.
Oval Tower was offered by the developer at RM270 psf by the end of
2009. This is quite a steal for investors, as other nearby
developments (i.e: Damansara Intan, Tropicana City's Signature
Office and BU8) were quoted at about RM300 psf to RM600 psf at the
same time. However, it was offered with 20:80 financing package.
The ingress and egress of Oval Tower is also an issue here. As it
can only be accessible via Sprint Highway, one need to make a
difficult turn into or out from the enclave from the bustling
highway. With Glomac Damansara is coming up, the area will surely
become very congested soon.
Even though Oval Tower is selling like a hot cake (mainly because of
its low price offered), it is still doubtful for investment. There
are a lot of new comers into the area, including Dijaya's Tropicana
City and Glomac Damansara. Not to forget a few more nearby such as
10 Boulevard, the upcoming Damansara Avenue and Empire City.
According to several property agents, the rental rate in the area
has been constant with a little bit appreciation for the past couple
of months. But with new supplies in the market, will the rate roar
further? And might oversupply occur in this area? Also, as there are
a few options available, will Oval Tower beat the rest?
Sources: www.propwall.my
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