EMIRA

Emira OSK

OSK Property (through its subsidiary Ribuan Ekuiti) will soon be holding a preview event for the EMIRA, a mixed use development in Seksyen 13, Shah Alam. Given that we here at GoodPlace are fans of OSK (we have previously featured the Eclipse Residence here) as well as integrated projects in general, we are literally counting the days before the EMIRA gets unveiled to the world. 🙂

There’s a strong trend amongst (the savvier) developers to go knee deep into integrated developments, and for good reason – mixed use projects have a growing appeal among the urban crowd given the “everything under one roof” convenience and superior walkability. Given this strong value proposition, it is therefore of no surprise that integrated projects tend to command a higher price when compared to the plain vanilla condominium; however, in the case of EMIRA, the prices of the residences are eyebrow-raisingly competitive. Let’s take a closer look!

The EMIRA consists of a single tower housing some 400 unit of serviced suites with three different layouts to choose from – A (1,238 sq ft, 3+1 bedrooms), B (883 sq ft, 2 bedrooms) and C (614 sq ft, single bedroom). These units come with 1, 2 or 3 car parks depending on the choice of sizes.

Emira OSK

The layouts are deliberately designed to be functional rather than fancy, which is sensible given the small(ish) sizes of these units. Also, since the tower block faces the north/south direction, buyers won’t be encumbered with the dreaded “morning / evening sun” problem, and this will score them brownie points with prospective tenants and renters.

Emira Shah Alam by OSK Property

It’s easy to gloss over the list of facilities you see in the glossy brochures that the developers give you, but EMIRA’s amenities are impressive even to the most jaded buyer. Facilities are housed on two floors (the Garden Patio on the 8th floor and the Sky Patio on the roof), and apart from the expected swimming pools, badminton courts, playgrounds and BBQ pits, there are sofa bed lounges, water treadmills, a jacuzzi, garden parterre, hammocks and a potpourri garden. And for those who are looking for retail therapy, there are two whole floors of shops and eateries (dubbed the Urban Retail component of this development) on Levels 1 & 2. The upcoming Aeon Jusco mall will be trekkable by foot as well as Tesco Extra which is just right on the opposite side of the road.

EMIRA is located in the heart of Shah Alam on Persiaran Sukan opposite the stadium. This means that residents will pretty much enjoy the perks of a central location with the nearby hypermarkets, malls, schools, sports facilities as well as easy access to highways.

Emira Shah Alam Location Map

Pricing-wise, EMIRA’s residence units are tentatively priced between RM350,000 to RM750,000 (this corresponds to about RM550 PSF). It is perhaps notable that a huge chunk of new launches is of the >RM1 million range, and this is a mismatch with a majority of home buyers who typically have budgets around the RM500,000 median according to a recent industry-wide survey by a property portal. The EMIRA seems to be addressing the needs of this (large) group of buyers with a mid-tier price range, and I won’t be surprised if the units get snapped up quickly when they become available.

Our Analysis

We are indeed coming to the end of a bull run as far as the Malaysia property market as we know it. As one can expect, there will be what the industry calls a “clearing out” with the exit (or in some cases, acquisitions) of weaker developers (many of which came about during the boom). For an established developer with a strong portfolio under its belt, it’s business as usual for OSK despite the doom and gloom which seems to be engulfing the industry at the moment. No matter whether it’s a bull or bear market, there’s always good demand for quality properties with good value for money, and for this reason I think EMIRA will do well.

Property prices have perhaps become the biggest purchase driver amongst Malaysians nowadays, and I do believe that the EMIRA has hit a sweet spot at around the RM550 PSF point with relatively affordable entry prices in the mid six figures range. Many seem to think that mixed use projects are a trend which will pass eventually, but I think that it’s here to stay, and for that reason I would personally would pay a +10-15% premium for such developments over comparable condominiums. Finally, developer reputation is everything in this business, and OSK wouldn’t get this far by delivering sub-par products and pissing homebuyers (and people like me) off. 😉

Of course, as with everything else you see here at GoodPlace, this is not a recommendation to buy or to sell – you’ll have to do your own homework and come up with your own conclusions. 🙂 However, everything seems to check out for EMIRA on paper, and therefore even if you’re faintly interested you should make a beeline to Plaza OSK to check out the preview (details below).

What To Do Next

The EMIRA will be open for preview in the week of 11th to 19th of October 2014 (10am to 6pm daily) at the fountain area of Plaza OSK on Jalan Ampang (Google map here). For early bird goodies and unit selection privileges, register at www.emira.com.my.

EMIRA - The Summary

NameEMIRA
DeveloperRibuan Ekuiti (a subsidiary of OSK Property)
TypeMixed use development (residence + urban retail)
LocationPersiaran Sukan, Seksyen 13, Shah Alam
TenureLeasehold / Commercial
Completion Date2017 (estimated)
Towers1
StoreysResidence - 26 storeys
Urban Retail - Levels 1 & 2
UnitsResidence - 400
Urban Retail - 50
Built-up Areas (Residence)Type A - 1,238 sqft (3+1 Bedrooms)
Type B - 883 sqft (2 Bedrooms)
Type C - 614 sqft (1 Bedroom)
Built-up Areas (Retail)1,249 sqft – 2,000 sqft
Indicative Prices (Residence)RM350,000 – RM750,000 (RM550 PSF onwards)
Indicative Prices (Strata Retail)RM900,000 – RM1,800,000 (RM700 PSF onwards)
Car ParksResidence - 1, 2 or 3 units
Urban Retail - 1 unit
Facilities @Garden Patio
Located on the 8th floor
Infinity pool
Sofa bed lounges
Jacuzzi
Water treadmill
Play pools
Flux trellis
Playland
BBQ lounges
Green parterre
Cubist play & lunges
Topo gardens
Water canals
Multi-purpose hall
Badminton courts
Changing rooms
Facilities @Sky Patio
Located on roof top
Trellis lounges
Green strips
Potpourri garden
Hammock haven
Entertainment lounges
Gymnasium
Management office
Surau
Changing rooms
Reading room

About Khai Yin

When I am not writing for GoodPlace.my and helping my readers find properties though the DealMatcher service, I spend time doting on my three kids: Wenyi, Qinyi and Eian. My personal stuff, some published essays and contact details can be found at khaiyin.com

Comments

  1. Shah Alam is Selangor isn’t it? That means that for Singaporeans the cap is now a whopping RM2 million!?!?!! So I suppose if we want to invest we have to buy something like a 5 bedroom penthouse (and then hope to rent it out!?)

    By the way, is Mont Kiara considered Selangor or KL?

  2. Goh Siew Cheng Cheng says:

    Is the investment at Ara D’sara H2O service apartmentsca good one?

  3. Goh Siew Cheng Cheng says:

    Is the investment at Ara D’sara H2O service apartments a good one?

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