Nadia Parkhomes, Desa ParkCity

Nadia Parkhomes is a 2- and 3-storey terrace/link houses development located in Desa ParkCity, Kuala Lumpur. This is the first development in Desa ParkCity. It comprises of 165 units of the parkhomes – a new style of terrace houses with 6-acre of park and private garden within gated and guarded communities – on the 17-acre land in Desa ParkCIty.

Nadia Parkhomes is part of the 473-acre freehold development of Desa ParkCity. There are a total of 25 neighborhoods, which each of them possess own unique characteristic that makes each of them different from another. The completed development will comprise of a 45-acre mixed-use commercial belt, 2 business parks, a 43-acre central park, a clubhouse, a community center, schools and others. Other housing developments in Desa ParkCity include The Ridgewood, Adora , and Adiva.

It was launched in June 2002, and the developer claimed that all units were sold out within three days of the launch. It was launch from RM400,000 per unit. After it was completed, the price hiked to about RM600,000.

There are several amenities and facilities built to cater residents’ needs. There is a huge park, named Desa ParkCity Central Park for the whole Desa ParkCity residents. There is a commercial centre that consists of neighborhood shops on 5.5-acre land facing the central park.

In terms of accessibility, there are LDP Highway and Penchala Link to cater the residents. From the area, one can reach the Kuala Lumpur city centre within 35 minutes, Mont Kiara within 15 minutes, Damansara Heights within 20 minutes and Petaling Jaya within 25 minutes.

Property Details

• Name: Nadia Parkhomes
• Address: Desa ParkCity, 52000 Kuala Lumpur
• Developer: Perdana ParkCity (a subsidiary of Samling Group)
• Completion Date: July 2005
• Type: Terrace House
• Tenure: Freehold
• No. of Units: 165
• Land Area: 17-acre
• Built-up: 2,432 sf

Layouts

• Type 1
• 2-storey parkhomes
• 3,649 sf
• 4+1 bedrooms

• Type 2
• 2-storey parkhomes
• 2,390 sf
• 3+1 bedrooms

• Type 3
• 3-storey parkhomes
• 2,800 sf
• 4+1 bedrooms

• Type 4
• 2-storey parkhomes
• 2,432 sf
• 3+1 bedrooms

Facilities

• Covered parking
• Playground
• 6-acre park
• Swimming pool
• Wading pool
• 24-hour security

Analysis

Nadia Parkhomes is developed by Perdana ParkCity, a subsidiary of Sarawak-based timber company, Samling Group. The group bought the 473-acre of the part-quarry part-rubber land for RM200 millions which is less than RM10 psf, back then in 1999.

Most buyers were satisfied with the quality and workmanship delivered by the developer. Some said they have the feeling it is like living in a resort than just a link house. Besides that, they are also impressed with the landscape and security in the area.

Back then before it was launched, people doubted this whole development due to several reasons including traffic jam at the U-turn along Lebuhraya Damansara-Puchong (LDP), Kepong is not considered as Kuala Lumpur, have to pay RM1.60 toll to get to Damansara, and an unknown developer. After the development completed, most of these drawbacks were wrong which resulted the price to sky-rocket to above 20% immediately.

In the beginning, the maintenance fee was charged at RM0.15 psf. Later on, a year after the keys had been handed over to buyers, the developer has increased the maintenance fee to RM0.20 psf, which is a 30% increment over the first year. Residents are afraid that the developer will continue raising the maintenance fee from time to time in the future.

Besides Desa ParkCity, there are several other developments by other developers as well in the vicinity. These include Bayu Sri Bintang, a 4.5-acre guarded community that comprises of 26 units of semi-d’s and 4 bungalows, launched between RM1.4 to RM2.5 million. In addition, Sunway City and its joint-venture partner, Syarikat Permodalan Kebangsaan has joined bandwagon via Sunway SPK Homes by developing Sunway SPK Damansara and Villa Manja.

As within Desa ParkCity vicinity, the developer claimed that there will be about 7,278 residences in total comprising of 4,500 high-rise condominium units and the remaining are landed houses in another 8 years time. With upcoming several other new developments in Desa ParkCity itself scheduled by the developer, it is afraid that the area will be a high density and congested area.

There are few amenities planned to be built in Desa ParkCity. The developer has signed a memorandum of understanding with Subang Jaya Medical Centre to design, build and lease a 250-bedroom hospital in Desa ParkCity in August 2007. The lease will be for 15 years with the option to renew for another 10 years. The hospital is expected to serve the residents by 2011.

Besides that, there was another memorandum of understanding signed with Nord Anglia Education, a worldwide education specialist listed on the London Stock Exchange, to operate an international school in Desa ParkCity. Furthermore, Desa ParkCity’s town centre will be launched in 2010. It will comprise shops, offices, serviced apartments, a hotel and a hospital, on a 40-acre land.

Public transportation is a big drawback of this area. One can only rely on bus and taxi for public transportation. Thus, this area is only suitable for those who work in Mont Kiara and Desa Sri Hartamas area, as the location is quite far from other major commercial centers. It is not suitable for those who are work in Damansara area as there are plenty of good residential options nearby.

Investment wise, it is already too late to gain big bucks from a new investment here. Most initial buyers either have already cashed out large profit from their investment, or reside in the house as being tempted to the exclusivity feel. The price has escalated from RM165 psf back then in 2002, to RM355 psf. Mind you that Amelia Garden Homes was launched from RM800,000 to RM1,000,000 in 2006. Thus, there is still potential that the price will continue to escalate. Perhaps, the price will decrease a little bit, and then it will be the perfect time to jump into this impressive development. Nadia is also considered one of the best landed house developments in Desa Parkcity.