PART 2 KL North: An Emerging Hotspot Worth Investing In
In terms of upcoming residential projects in the area, a few developers have begun to embrace the Transit-Oriented Development (TOD) concept, which according to the Malaysian Industrial Development Finance (MIDF), is “the planning and building of a mix of housing, business, and other amenities close to a transit station”.
With TOD, people increasingly use public transport, inadvertently supporting local businesses to make neighbourhoods a place to live, work and spend time.
Mr. Ho indicates of an upcoming TOD-focused project being jointly developed in KL North by Fortune Global 500 property developer, Country Garden, and Perdana ParkCity, an established and reputable property developer in Malaysia, “Lake City is slated to be a coveted TOD-focused property for Malaysians to reap the benefits from – consisting of an integrated mixed-use development with various activities available, walkways and cycling lanes, public amenities, availability of feeder busses and green buildings. These also correlate to the said developers’ HOPSCA concept referring to a large-scale, mixed use, commercial urban development”.
HOPSCA is a term that refers to the ‘Hotel, Offices, Parking, Shopping Mall, Connectivity and Apartments’ community.
Thus, in contrast to a single-use development, such an integrated project requires a multi-pronged and multi-approach perspective in order to develop engagement with the community. Lake City is touted to be as multi-faceted as life itself, providing lakeside living for a wholesome living environment.
What’s more, future homeowners of Lake City will be able to foster a close sense of community through its vibrant waterfront area. Inspired by Kuala Lumpur’s very own ‘River of Life’ – the area is set to be the heartbeat of the development that offers high economic and commercial value, seamlessly connecting the lives of all residents and not only deliver housing, but also new employment opportunities, raise public transportation efficiencies, and reduce traffic demand.
As Malaysia’s property market is poised to gather further momentum moving into the second half of 2019, it is certain that property will remain to be a favourable investment option for many in Malaysia as the number of property investors in Malaysia grows. Touted to be the next big area, KL North has all the requisites for a good investment. Whether its location, type of property, accessibility, infrastructure, or public amenities, KL North is set to thrust its residences to a state of living that can only benefit them for the coming years.