Taman OUG

Overview

Located 20-minutes away to the south-east side of Kuala Lumpur is Taman OUG, an old township named after its developer, Overseas Union Garden. The township was developed in the 1970’s mainly to cater for the working class. Over the years, Taman OUG has seen many developments straddling its township which have helped propelled the township to greater heights. Most of the properties in this large residential area are landed properties comprising single and double-storeys houses.

In recent years, Taman OUG has seen new developments catering to the middle and high end market. The latest development led by WCT Holdings Berhad is a new township called W City OUG @ Kuala Lumpur (formerly known as Paradigm Garden City) that sits right in the heart of the mature Taman OUG. This new modern area is located on 63 acres of freehold land, only 16 kilometres away from Kuala Lumpur city centre. A mix of corporate and retail offices as well as residences, hotel and a 2 million square feet shopping centre will bring a fresh façade and raise Taman OUG’s profile from being a secluded, old fashioned township to an exciting and stylish neighbourhood.

Amenities and facilities

The most notable landmark within Taman OUG is the Pearl Point Shopping Mall which also houses the Pearl International Hotel. The Pearl Shopping Mall also recently opened a new wing across the road, connected by an overhead bridge. Another famous landmark nearby is the Taman OUG wet market. It was formerly an open wet market that existed for over 30 years before it was torn down. In its place is the current new wet market which is a modern five-storeys building with modern facilities and design. In addition to the said facility, the Taman OUG residential enclave also provides its residents with several public amenities and township facilities such as Central Plaza, OUG Plaza, Scotts Garden. Also close by is Kuala Lumpur’s largest shopping centre the Mid Valley Megamall. There are many schools around the Taman OUG area such as Sekolah Kebangsaan Seri Mega, SMK Taman Desa and Sekolah Kebangsaan Seri Indah. There are also vernacular schools in the area, the most notable being SJK (C) Yoke Nam. There is a medical facility, Taman Desa Medical Centre and a fire station in the area.

Accessibility and transportation

Taman OUG is accessible via many major roads. The most direct way is via the Old Klang Road, which used to be the only trunk road linking Kuala Lumpur to Port Klang in the early 19th century. An alternative route from Kuala Lumpur is the MEX Expressway. Taman OUG residents also can venture to the outskirt areas such as Sri Kembangan, Puchong or Putrajaya via the KESAS highway which is accessible through the Taman OUG exit. As for public transportation, there are many public buses that ply the Old Klang road area heading either towards Kuala Lumpur or Puchong. However there is no public trains within the vicinity of Taman OUG. The closest LRT train station is Sri Petaling LRT which is about 15 minutes outside of Taman OUG.

Quiet residential enclave to see drastic change (from The Edge Malaysia 13 Decemeber 2021 issue)

Plaza OUG - still fondly known as Yaohan to many folks of a certain age, even though the Japanese department store that bore the name had caesed operating more than two decades - is a notable landmark as on enters from Jalan Klang Lama. There are plans to redevelop Plaza OUG into a 6-storey shopping complex with a mezzanine floor, a 30-storey hotel with 312 rooms and a 41-storey serviced apartment with 361 units. 

At the heart of the area is the relatively newer 5-storey commercial building known as The Market Place, which opened in 2016 to offer both wet and dry markets, restaurants, as well as a badminton hall. 

Savills Malaysia group managing director Datuk Paul Khong shares a little history of the area. "Since the 1980s, Taman OUG (has been) a coveted and very liveable address. The iconic Yaohan shopping centre, we market and commercial shops were supported by the sizeable residential neighbourhood," he says. 

Having all the key ingredients to a successful housing project from the start has ensured that Taman OUG not only thrived but even spilled over so to speak. The rapid growth of Taman OUG has since spurred more development and encouraged expansion to Sri Petaling and Bukit Jalil as its rear boudaries, along with many new road connections," Khong adds. 

He notes that the local property market in the area has been considerably resilient over the pas 20 years. "There were about 40 transactions per annum in the last 10 years, with around 80% of the secondary sales in the area being terraced houses," he says. 

PA International Property Consultants (KL) Sdn Bhd managing director Jerome Hong notes that the price for a 1-storey terraced house with a land area of 1,604 sq ft was about RM15,000 in 1976. "Today, a similar property is transacted between RM580,000 and RM610,000."

He points out, however, that there is limited land left for development in the area, which means the only way to grow futher is upward. "Taman OUG's landscape will see a drastic change. (It) will be transformed from a quiet residential enclave into a bustling hotspot. We foresee property prices and rents in the area further improving." 

The change will be particularly pronounced at the 63-acre W City OUG @ Kuala Lumpur (formerly known as Paradigm Garden City) by WCT Holdings Bhd. According to the developer's website, the intergrated and self-sustaining mixed-use development will comprise residential, commercial, retail and public space components. It aims to be a vibrant hub of entertainment, wellness, enrichment, specialities, and food and beverage. 

W City OUG's first completed development - in July 2020 - is Waltz Residences. It offers 419 units with built-ups ranging from 948 to 1,691 sq ft, priced from RM754,000. 

An ongoing W City OUG project is the three-tower Maple Residences. Slated for completion in 2025, it will add 940 units to Taman OUG's property market. 

Hong says Tower A, launched in October last year, offers 303 units with built-ups ranging from 808 to 1,152 sq ft. Tower C's units, totalling 342, are bigger, from 1,163 to 1,378 sq ft. 

Subsequent phases to be developed at W City OUG are neighbourhood community retail hub, an MSC (Multimedia Super Corridor) office tower and residential blocks, Hong shares. 

Another development in the works is The Legacy OUG by Grande Peak Properties Development Sdn Bhd, targeted for completion in 2023. Located on Jalan Gembira, is comprises 34-storey blocks of condominiums, totalling 442 units, with built-ups ranging from 1,050 to 2,230 sq ft. 

Steady growth in prices (from The Edge Malaysia 13 Decemeber 2021 issue)

Hong says property prices in Taman OUG have shown marked appreciation over the past decade. 

A 2-storey terraced house on Jalan Hujan Emas 9 with land and built-up areas of 1,647 sq ft and 1,672 sq ft respectively, gained 107% in price to RM455 psf in 2019/2020, from RM220 psf in 2010. 

In the same period, the price of 2-storey semidees on Jala Hujan Emas, with land areas ranging from 4,069 to 4,241 sq ft and built-ups of 2,076 to 2,160 sq ft, grew 72% to RM795 psf from RM463 psf. 

"Asking prices of 2-storey terraced houses are on a par with recent transactions recorded (by the Valuation and Property Services Department), whereas asking prices of 2-storey semidees have dropped slightly," Hong notes. 

For general comparison, he says that asking prices of 2-storey terraced houses with a land area of 1,650 sq ft range from RM477 psf for a 2,200 sq ft built-up unit to RM525 psf for a 1,600 sq ft built-up unit. for 2-storey semidees with a land area of around 5,000 sq ft and built-ups ranging from 3,000 to 4,000 sq ft, they are between RM622 and RM627 psf. 

As for high-rise properties, asking prices at Waltz Residences have remained stable at an average of RM791 psf, he notes. 

In the commecial segment, shopoffices have fared well, with prices appreciating in excess of 95% over a 10-year period, Hong adds. Two-storey shops on Jalan Hujan, with land area of 1,604 sq ft and built-ups ranging fromm 2,328 to 2,391 sq ft, appreciated 95% in price to RM836 psf in 2019/2020 from RM430 psf in 2010. "The average transacted prices of properties located within the main commercial hub, such as those in Jalan Hujan and Jalan Hujan Rahmat, were higher, " Hong says. 

Laurelcap Sdn Bhd executive director Stanley Toh also notes that property prices in Taman OUG have been growing steadily over the past 10 years. Even so, he adds, "in terms of its outlook, prices in the mid-to long term are expected to remain stagnant mainly due to the age of its existing properties." 

Apart from that, "the opening up of Sri Petaling and Bukit Jalil with newer projects has attracted millennial buyers from Tama OUG, which is still predominantly occupied by the older generation,"  says Toh. Further, many old bungalows in the area have been amalgamated and developed into super-linked terraced houses, townhouses and semidees. 

Generally, Toh says, asking prices in Taman OUG are around RM700,000 to RM800,000 for terraced houses; RM1.5 million to RM1.8 milion for semidees; and RM2.3 million for bungalows. 

As for high-rise serviced apartments, they are priced from RM650 to RM850 psf, he adds. 

Meanwhile, two-storey shops range from RM1.2 million ro RM1.8 million while 3-storey units are going for RM2.2 million to RM2.5 million. 

"In terms of transactions, prices have generally been increasing over the last five years," says Toh. He notes however, that there were a few fire sales in the neighbourhood during the Movement Control Order (MCO) period, but points out that they were typical knee-jerk reactions due to the pandemic. 

According to Savills' Khong, terraced houses in Taman OUG typically have one to three storeys, while semidees and bungalows usually have two or two-and-a-half storeys. He says asking prices of 2-storey terraced houses with built-up of 1,600 to 1,760 sq ft range from RM840,000 to RM880,000, and for 2-storey semidees with land areas of about 5,000 sq ft and built-ups of 3,000 to 4,000 sq ft, from RM1.8 million to RM2.5 million. 

An analysis of 2-storey terraced houses in the area with a land area of 22ft by 75ft and built-up of about 1,670 sq ft shows that the average transacted price was about RM870,000 in 2019, representing a marginal compound annual growth rate of 0.6% over a five-year period, notes Khong. 

While there were limited transactions of semidees in the neighbourhood, transcations of 2-storey semidees with land areas of 4,000 to 5,000 sq ft were recorded at around RM1.5 milion to RM2 million in 2018/2019. 

"Demand for terraced houses is still relatively strong given the location, and the area is expected to remain popular with the owner-occupier segment," says Khong. "Its central location, full connectivity to a network of highways and proximity to shopping malls and wet markets still makes this location appealing."

Strategic, convenient (from The Edge Malaysia 13 Decemeber 2021 issue)

There are many factors driving the demand for properties in Taman OUG. The main draw is its strategic location off Jalan Klang Lama and proximity to Petaling Jaya and KL city centre, as well as good connectivity to a large network of highways such as Maju Expressway (MEX), Shah Alam Expressway (KESAS), New Pantai Expressway (NPE), Federal Highway and Sungai Besi Expressway leading down to North-South Expressway. Apart from that, there are LRT stations - Awan Besar, Sri Petaling and Bukit Jalil - in the vicinity. 

Taman OUG also enjoys an abundance of amenities close by including Mid Valley Megamall, The Gardens Mall, Pearl Shopping Gallery, Bukit Jalil Recretional Park, Bukit Jalil Gold & Country Resort, KL Sports City (formerly known as National Sports Complex). There are also wet markets, medical centres, schools, banks and neighbourhood commercial areas. Another shopping complex nearby that just recently open its doors is Pavillion Bukit Jalil.