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REM 315

Land Economics
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0% found this document useful (0 votes)
12 views31 pages

REM 315

Land Economics
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 31

DEPARTMENT OF ESTATE MANAGEMENT

FACULTY OF ARCHITECTURE, PLANNING AND SURVEYING, UNIVERSITI


TEKNOLOGI MARA PERAK
COURSE CODE: REM315

COURSE NAME: LAND ECONOMICS

Name of group members Matric number

MUHAMMAD SYAMIL FAISAL BIN ROSMADI 2020882972


WAN IRDINA BATRISYA BINTI WAN MAHAZIR 2020481774
SITI MARIAM BINTI MAIL 2020863342
AINI SYAHIRA BINTI AL’ABAS 2020479326
MUHAMMAD AIMAN AQIL BIN ROSLI 2020812818

Name of Group Leader: MUHAMMAD SYAMIL FAISAL BIN ROSMADI


Matric Number: 2020882972
Assignment Title: REDEVELOPMENT OF BROWNFIELD SITE: PANDAN SAFARI
SELANGOR
Due Date of submission: 26TH JANUARY 2023

Submission Date: 26TH JANUARY 2023

Submission to: MR MUHD ASIF BIN YUSOF


DECLARATION:

We declare that,

No part of this assignment has been copied from other person’s work except where due
acknowledgement is made in the text, and no part of this assignment has been written for me by any
other person except where such collaboration has been authorized by the lecturer concerned.

Group’s Leader Signature: Date: 26TH JANUARY 2023


Table Of Contents

1.0 Introduction Of The Proposed Project .............................................................................................. 1

2.0 Background Of Brownfield Site ....................................................................................................... 2

3.0 Facilities And Amenities................................................................................................................... 3

4.0 Demographic ..................................................................................................................................... 4

4.1 Population In Malaysia ................................................................................................................. 4


4.2 Employment In Selangor .............................................................................................................. 8
4.3 Income Level In Selangor ............................................................................................................. 9
4.4 Income Level By District In Selangor .......................................................................................... 9
7.0 Redevelopment Proposed Idea ........................................................................................................ 10

8.0 Specialization Activities Upon The Redevelopment ...................................................................... 12

9.0 Development Stage ......................................................................................................................... 13

10.0 Supply .......................................................................................................................................... 17

10.1 Existing Supply ......................................................................................................................... 17


10.2 Incoming Supply ....................................................................................................................... 17
10. 3 Planned Supply ........................................................................................................................ 17
11.0 Ccupancy And Space Availability ................................................................................................ 18

12.0 Demand ......................................................................................................................................... 19

13.0 Projection Demand........................................................................................................................ 20

14.0 Proposed Layout ........................................................................................................................... 21

15.0 Imitation From The Existing Project ............................................................................................ 22

16.0 Impact Of Redevelopment To The Economics And Socials......................................................... 23

16.1 Impact To The Economics ........................................................................................................ 23


16.2 Impact To The Socials .............................................................................................................. 24
17.0 Conclusion .................................................................................................................................... 26

Appendix ............................................................................................................................................... 27

References ............................................................................................................................................. 28
1.0 INTRODUCTION OF THE PROPOSED PROJECT

It is a must for us to sustain development in our country. Sustainable development also


ensures that we fulfil human goals while also having a positive impact on stability in various
ways. We should use the land to its highest and best use to meet land use planning requirements.
That is why there is the existence of Brownfield redevelopment projects. According to urban
planning, a brownfield is a piece of land that has previously been developed but has now
reached its end and has been terminated or not. So here is their opportunity to redevelop
something on that site so that it does not go to waste.

The purpose of this report is to highlight a brownfield site in Selangor, where we have
decided to redevelop the area. According to the survey, the land is located at the Pandan
Perdana, right about the border of Cheras and Ampang. It was expected to function for a long
time, however, after years of operation, a tragic incident stunned the public and compelled the
temporary closure of Safari Lagoon Waterpark. The theme park was also abandoned as a result
of operating without a license.

We have agreed to redevelop the building for more intensive commercial use as a
shopping mall, office space, and public transportation hub as part of our plan for this
brownfield. Given its convenient location, we have decided to redevelop this brownfield with
similar commercial buildings. Our goal is to design a state-of-the-art shopping centre that
stands in stark contrast to the conventional malls of today. Recommendations abound for the
upcoming redevelopment site, which will feature mixed developments of office space.

In conclusion, it is anticipated that this shopping centre will undergo redevelopment. It


is conceivable that both the city council and the state government will take some sort of action.
This is due to the fact that the structure will attract both locals and visitors. And since most of
the building's sections have already started to peel off and collapse, it's only a matter of time
before this place becomes a squatter area, bringing with it an unpleasant vibe for the
neighbourhood. Hence, All brownfield areas in Malaysia need serious attention.

1
2.0 BACKGROUND OF BROWNFIELD SITE

Our chosen brownfield site is Pandan Safari Lagoon Shopping Complex which located at
1, Jalan 6/10a, Pandan Perdana, 55300, Ampang Jaya, Selangor.

Location of Pandan Safari Lagoon Shopping Complex

The history behind this abandoned shopping centre and theme park is it was first ever
rooftop water theme park built in the year of 1998’s. This building is consisting of seven storey
shopping complexes built with a rooftop water theme park. The park is owned by Dirga Niaga
Sdn Bhd and reportedly cost RM 28,000,000 and its operations water park was Mon S Sudesh.

In the year of 2007’s, the water park has stopped their activities because there was an
incident where an employee drowned in one of the park's pools when he was trapped inside a
high-pressure water pump while retrieving a visitor's items. Following that, it was revealed that
the theme park had been operating for the last nine years without a license from the Ampang
Jaya Municipal Council. The park was closed shortly after, a part of it was later reused as a
restaurant. Nevertheless, the shopping complex beneath it continued to operate until 2015. In
the year of 2015’s, the building is being fully abandoned. Until now the status of the Pandan
Safari Lagoon Shopping Complex is remaining abandoned for more than eight years.

2
3.0 FACILITIES AND AMENITIES

HIGHWAY SPORT CENTRE MOSQUE

EDUCATIONAL CENTER HOSPITAL

There are several facilities and amenities near to our subject property which may
affecting our brownfield redevelopment project. In range about 5 kilometres from the subject
property, there are many learning centres. The nearest learning centre is estimated around 4
minutes from the subject property. The subject property is strategic as it is surrounded with
educational facilities from the primary school to the college institution. Sekolah Kebangsaan
Pandan Perdana, Sekolah Menegah Kebangsaan Pandan Indah, and Kolej University Poli-Tech
MARA Kuala Lumpur are the nearest educational canter around the development site.

Next, sport centre. There are two sport centres which are Majlis Perbandaran Ampang
Jaya Stadium and Sunlight Badminton Hall, both of these facilities located within 3 km from
the subject property. These facilities have been used for the community on daily basis making
it is great to provide sport facilities at our development site because the community in Pandan
like to involve in sport.

3
This location also has important facilities such as Hospital and Mosque. The location of
Al-Azim Mosque is 5.8 kilometres and Pantai Hospital Cheras in range 4.5 kilometres from
subject property. Finally, the nearest highway is MRR2 Highway. The site is located near to
the highway making the location is sstrategicbecause people from aother areascan visit this
redevelopment site easily.

4.0 DEMOGRAPHIC
4.1 Population in Malaysia

Year Total Population Total Citizen Non-citizen Annual population


Growth Rate (%)
2020 32,584.0 29,677.4 2,906.6 0.2
2021 32,655.4 29,962.3 2,692.3 0.2
2022 34,691.8 31,294.6 3,397.1 1.3

Source: Department of Analysis Malaysia

In the year of 2022, the population of Malaysia is estimated at 34.7 million higher as compared
to 32.5 million in 2021 whereby its annual growth rate is at 1.3%. The citizen’s decrease in
years 2020 with 91.1% compared to citizen in 2022 with 90,2%. The population of non-citizen
are growing from year 2020 to 2022.

4
Population in Selangor

Year 2020 2021

Population (Million) 6,994,400 7,014,700

Average Population Growth 0.3% 0.3%


Rate (%)
Area (KM 2 )
7,951 7,951

Source: Department of Analysis Malaysia

Based on the bar chart as above, it shows that the population in Selangor remain increase from
6,994.4 million to 7,014.7 million in year of 2020 to 2021. The average annual population
growth rate in year 2020 to 2021 is at 0.3%. In short, as we can see the population in Selangor
is increase from year to year.

5
4.1Population by District in Selangor

No District Number of Population


2020 2021
1. Gombak 942.4 948.0
2. Klang 1,088.9 1,078.7
3. Kuala Langat 307.4 312.2
4 Kuala Selangor 281.7 285.1
5. Petaling 2,298.1 2,315.7
6. Sabak Bernam 107.1 107.5
7. Sepang 325.2 330.7
8. Ulu Langat 1,400.5 1,393.3
9. Ulu Selangor 243.0 243.4

Source: Department of Analysis Malaysia

According to the chart above, the district of Petaling has the highest population among the
other district in Selangor with 2,315,700 million in 2021. The second highest is in district of
Ulu Langat which by 1,393,300 million and follow by next highest is Klang which at 1,078,700
million. District of Sabak Bernam recorded has the lowest population growth in 2021 with
107,500 thousand. Our subject property was in the district which is District Ulu Langat.

6
Age Structure in Selangor

Year/Age 2020 2021


0-14 1,549.6 1,531.6
15-64 1,549.6 4,978.7
65 and above 1,549.6 504.5

Source: Department of Analysis Malaysia

Based on the chart above, the structure of age in 2020 is maintain in three different types. In
years 2021, 15-64 years old people is higher. Meanwhile, the age of 0-14 years in Selangor
recorded decrease in 2021 with 1,531,600 is lower than 2020 with 1,549,600. In addition, the
age of 65 and above also decrease to 504,500 in 2021 and 1,549,600 higher than in 2020. The
people with 15-64 is growing higher in year to year.

7
4.2 Employment In Selangor

(‘000) 2017 2018 2019 2020


Labour Force 3457.5 3546.3 3592.9 3602.7
Employed 3359.4 3446.7 3489.5 3446.5
Unemployed 98.1 99.6 103.4 156.2
Soure: DoSM

4000

3500

3000

2500

2000

1500

1000

500

0
2017 2018 2019 2020

Labour Force Employed Unemployed

Graph of Employment Person in Selangor

From 2017 to 2020, the table and graph indicate total employment in Selangor. It reveals that
the greatest total employment of the labour force for 2017, 2018, 2019 and 2020 is 3457.500,
3546.300, 3592.900 and 3602.700. After that, there are employed and jobless people. The
growth in the number of people employed in Selangor implies that there are numerous work
possibilities in the area.

8
4.3 Income Level in Selangor

The Household Income Survey and Basic Amenities Report

In 2019, Selangor's mean income was RM10,827, while the median income was
RM8,210. In general, this condition is consistent with the situation in most other states, where
it depicts the inequality of household income that is affected by a number of high-income
households. In terms of growth, median income in Selangor increased by 4.3 percent per year
in 2019, compared to 7.5% in 2016. Furthermore, median income increased by 4.5% in 2019.
According to the report, 14.4% of Selangor households earn less than RM4,000, with 12.9
percent earning between RM2,000 and RM3,999.

4.4 Income Level by District In Selangor

The Household Income Survey and Basic Amenities Report

9
Median monthly household income was RM8,993 in Petaling, RM8,937 in Sepang,
RM8,501 in Gombak, and RM7,714 in Hulu Langat (RM8,361). At the same time, the median
income in certain other administrative regions was lower than the statewide average of
RM8,210. From 2016-2019, the median income in Kuala Langat increased at a rate of 9.1
percent annually. Kuala Selangor (5.5%), Klang (5.3%), and Hulu Selangor (4.7%) all had
growth rates higher than the state average.

7.0 REDEVELOPMENT PROPOSED IDEA

Because of its location and the research done on the market. The concept that has been
presented to develop this brownfield site is to use it for mix commercial purposes, which would
include the creation of a one-stop centre consisting shopping mall, offices, and a public
transportation hub. This development will provide a much-needed focal point for the
community and improve connections with other parts of the city because of the area's
accessibility. The building that is being proposed will consist of three storeys of retail space,
three storeys of office space, and two basements; one for a public transportation station and
one for a parking lot. The concept of transforming this brownfield site into a one-stop center
not only satisfies a demand in the market, but it is also anticipated to generate a significant
number of employment openings, enhance access to public transportation, and produce new
locations in which commercial and business activity can take place. The following are the
facilities will be provided in the proposed development:-

7.1 RETAIL SPACE

To begin, the retail space at the site of the redevelopment project is the primary draw
for visitors. With an abundance of quality retail outlets, the site has the potential to become a
shopping destination for locals. Because retail lot space renting is quite expensive in Selangor,
retail space will generate more income. The leasing space price in Selangor can reach up to
RM 90 per square feet. Higher income will ensure the project rate of return. With higher rental
income expected, the project's rate of return will be more attractive to potential investors. Due
to the fact that the ground-level lot is typically filled by restaurants and large retail stores just
like H&M and Uniqlo, so the shop unit on the bottom floor will typically have larger
dimensions. When compared to the ground level, the upper unit of retail space is quite a bit
smaller. However, despite the smaller size, the upper-level units can still bring a good return
on investment. This is due to the fact that this lot is designed for smaller shops such as cosmetic

10
and gadget shops which cater to a more specialized and dedicated group of tenants. Therefore,
the different levels offer different spaces depending on the type of store. Consequently, this lot
provides opportunities for different types of businesses.

7.2 OFFICE SPACE

Next, is office space. eventhough many company have the work from home option,
some of them still relies on offices. It fosters creativity, productivity, and employee well-being.
In a shared space, coworkers may interact, read moods, and bounce ideas off one another
because teamwork helps generate ideas. When the worker is productive, it will have a positive
impact on the organization, which will affect the national economy.Office employees also
affect the local economy because most of them support public transportation and eateries
which has ripple effect that produce more jobs. Office-sector jobs hold a strong market share
of the overall job pool and loacal economy. Thus, it is easy to see why office work is so
important for both the national and local economies (The Economics of Buildings, 2010).

7.3 TRANSPORTATION HUB

A transport hub exchanges people and goods between vehicles. Railway, rapid transit,
bus, tram, airport, and ferry slip hubs are public transport. Transport links benefit people,
companies, the environment, and the economy. Good transport linkages will expand
employment areas and help individuals find work. moreover, it reduces commute time and
living costs. Our development project provides a transit center because not everyone own a
vihicles. Public transit users may unintentionally stop at our building and spend money, which
will boost our business's revenue. With a transportation hub, more people will visit our
development project, as many Selangor residents use public transport. This helps make our
development project more attractive, as it provides greater convenience for visitors .

7.4 OTHERS AMENITIES

We also provide other facilities such as parking. Parking is an important amenity in


Pandan areas because many people drive there. Because visitor and people from the
surrounding area can park at our building, it can help to reduce congestion. The congestion

11
problem can be minimized because people frequently park their vehicles on the side of the
road. Parking will also generate income for the building, thus increasing the project's rate of
return. Other amenities will be provided 'surau,' baby facilities, a lift, an escalator, toilets,
recreational and entertainment facilities. Thus, providing these amenities in Pandan areas can
help to improve the quality of life for both residents and visitors

8.0 SPECIALIZATION ACTIVITIES UPON THE REDEVELOPMENT

RECREATIONAL RETAIL SPACE TRANSPORTATION HUB

ENTERTAINMENT OFFICE

It has been proposed that this brownfield site will be utilized for a mix of commercial
purposes, mainly as a shopping centre. In addition, it also functions as a public transit hub and
an office building. "Mix commercial building" refers to a kind of urban planning or
development that combines many types of land uses, such as commercial, entertainment, office,
and transportation facilities, into one physical location. One of the most valuable aspects of a
mixed-use development is the living environment, which is often a high-quality community
with numerous amenities. All of these elements work together to ensure that the citizens of
contemporary society have the best possible quality of life. Younger generations and
expatriates, who have a limited amount of free time but high demands on their lives, have begun
to embrace mixed-use developments. Naturally, it has not merely been confined to residents

12
but has also been offered to potential investors. Therefore, we have included a variety of
interesting activities in our redevelopment projects to attract in residents of Pandan as well as
people from other area. This comprises a number of different types of outlet branding, as well
as a range of food and beverage options, along with gymnasiums, bowling, karaoke, arcade
centre, an indoor swimming pool, a cinema theatre, and others.

9.0 DEVELOPMENT STAGE

The first stage in the process of developing land is coming to the decision that the land should
be developed. In this case, the landowner is the driving force behind the development decision
and has the power to implement it. In most cases, the landowner is actively engaged in every
level of the development process, beginning with the first phases of creating the best plan to be
constructed on his property rights and continuing all the way to the actual execution of the
development. Hence, the essential components of our development stages are described in the
following list:

1. Initiation

When a piece of land is determined to be suitable for a different or more intensive use, this
marks the beginning of the process of land development. Similarly, when there is a demand for
a certain use, this leads an initiator to seek for a site that is best suited for that purpose. Due to
the fact that it is in a very strategic location, Pandan Safari brownfield is the most suitable place
for our redevelopment project.

2. Evaluation

At this stage in the product development process, our teams' decision-making procedures
are being guided by the results of actions carried out within the context of market evaluation
and financial evaluation. We have started the process of hiring certified real estate appraisers
and valuers to provide their professional guidance at every stage during our development. On
the basis of the client's instructions, they will conduct a kind of study that is known as market
and feasibility research. Within this research, they will provide a comprehensive analysis of
the features of the market in terms of the underlying competitive supply and demand.

13
3. Acquisition

This stage requires a legal analysis of the site, including land ownership and planning
permission, followed by a detailed study of the site's physical attributes and capacity to sustain
the development. In order for our development to be taken into consideration by the planning
concern, it must be checked into the project's aims to either enhance or preserve the
environment, social and economic welfare, and, most critically, compliance with all planning
rules and standards. In addition, it must be evaluated to see whether it has access and adheres
with all limitations and conditions of the land title as well as all other legal requirements. Then,
we will be needed to apply for land use planning permission in order to be given permission to
construct the land.

4. Design and Costing

The idea behind this development is one of environmentally responsible and sustainable
development. Because the development we want to plan satisfies the requirements of this
contemporary era, green and sustainable development would be the best option for the design
of this development concept. We are confident that it will be able to contribute to the economic
growth of the country. We decided on this idea as we believe it has the potential to produce
and preserve the natural beauty that exists. Besides, we have made some observations on the
other ongoing development projects, and we have found that the majority of them utilize the
notion of green and sustainable development. It is possible to assert that the idea of a green
environment is the most suitable one for the development as it is taking place at this time.

In addition, we use high-quality materials in order to adhere to the sustainable approach,


and we have high hopes that this development will have a longer economic life. We are certain
that implementing the green development concept into this project will result in many positive
outcomes, such as sustainability, which requires a harmonious relationship between social,
environmental, and economic factors. Besides, this is an excellent method for lowering
emissions and pollutants, both of which are essential to the protection of our natural resources.
By applying this green concept, it requires relatively high costs during the construction but not
in their long-term maintenance after completion.

Green Technology Financing Scheme 3.0 (GTFS 3.0) was introduced as part of the
government's strategy to promote sustainable and responsible investment (SRI) and to push

14
green and sustainable standards in Malaysia, as announced during the Budget 2021 address on
November 6, 2020. (Vendor, 2021) Therefore, we have decided to seize this opportunity as our
funding for this green development since there is a RM2 billion initiative that includes assisting
the issuance of SRI Sukuk and green bonds, which we are applying for and being accepted into
the program.

5. Permissions

At this stage, the local planning authority issues both the required statutory planning
permission and the optional preliminary outline planning consent before approving the whole
of the project. Depending on the previous use of the land, we must submit an application to the
state for permission. Consequently, we manage to get authorization from the local planning
authorities. However, we are able to obtain the government's consent to construct our
commercial development with a plot ratio and density limit of 1:10, which indicates that a high
population density would result to a high plot ratio in the area. In addition, our development
may occupy not more than 60% of the plinth area, and the buffer zone that is allowed must be
situated next to any public facilities.

6. Commitment

Once all the agreements are reached on inputs including land, financing, labour, supplies,
and statutory licenses, our land development may go forward. Landowners, the public sector,
and the developer play significant roles in the commitment, depending on the nature of the
partnership established for the development of our land. Solicitors or lawyers must oversee the
implementation of contracts, tenders, and agreements between the construction contractor, the
developer, and its qualified staff of consultants, including architects, quantity surveyors, and
engineers.

7. Implementation

This is the built stage where all of the essential components as well as the raw materials that
were necessary for the development process were made accessible. All of the experts in the
field that we already hire will take part in the development of the project and will play roles
that are distinct from one another but complimentary. As an example, a quantity surveyor is
responsible for supervising construction, approving intermediate payments to the contractor,

15
and taking part in the management and administration of contract designs and construction. In
a same vein, the architect, the construction contractor, and the e`ngineers all need to be capable
of carrying out their respective roles at this stage with competence.

8. Let / Manage / Dispose

This is the final stage where all the process of obtaining an interested occupier of the
result of the development at the projected rent or price, whether through letting or outright
sale, has reached its completion. The property or estate agent that we are hiring plays a
significant role as the go-between between the developer and our potential client.

16
10.0 SUPPLY

10.1 Existing Supply


EXISTING SUPPLY
YEAR NO. OF BUILDING TOTAL SPACE

2019 151 3,620,521


2020 153 3,704,593
2021 153 3,729,655

COMPLETION
YEAR NO. OF BUILDING TOTAL SPACE

2019 2 96,405
2020 3 133,954
2021 2 47,375

10.2 Incoming Supply


INCOMING SUPPLY
YEAR NO. OF BUILDING TOTAL SPACE

2019 6 534,091
2020 7 499,460
2021 8 513,937

10. 3 Planned Supply


PLANNED SUPPLY
YEAR NO. OF BUILDING TOTAL SPACE

2019 0 0
2020 0 0
2021 0 0

17
11.0 CCUPANCY AND SPACE AVAILABILITY

The retail industry made a slight improvement in performance, with an average


occupancy rate of 80.7% in 2021, up from 80% in 2020. Intake for the year totalled 43,443
s.m. Two new retail developments were completed in the Selangor area, adding 47,375 square
metres to the market. There were 153 established shopping malls in Selangor as of the end of
2021, with another 8 malls in the pipeline.

There have been indications of economic recovery and growth in Malaysia as the country
enters the endemic phase of Covid-19. Knight Frank's 1H2022 Real Estate Highlights report
states that the country's GDP grew by 5% thanks to rising consumer spending at home and
abroad and stable government spending. Economic activities in Malaysia have returned to
normal since April 1, when the country entered the endemic phase.

The Selangor retail market recovered in 2021 as a result of the National Recovery Plan's
four-stage process of gradually easing strict containment measures (NRP). Higher mall traffic
and the Chinese New Year holiday buoyed the retail sector in the first quarter of 2022,
contributing to an encouraging 18.3 percent annualised increase in sales.

The country's retail sales growth forecast for 2022 has been increased from 6.3 percent
to 13.1 percent after the shift to the endemic phase earlier this year. Knight Frank noted that
the economy will improve in general once normal business operations resume in the endemic
phase.

18
12.0 DEMAND

Value Of Hotel Transaction in Kedah by year (RM MILLION)

District 2020 2021


Petaling 30 0
Klang 0 36.92
Kuala Langat 0 0
Kuala Selangor 0 0
Sabak Bernam 0 0
Gombak 0 31.20
Hulu Selangor 0 494.50
Hulu Langat 0 0
Sepang 30 562.62

Source: Yearly Property Sales Data 2020 & 2021, NAPIC

According to NAPIC shopping mall transaction statistics for 2020 and 2021 in
Selangor, the value of the shopping mall transaction in Selangor is RM562.62. The value of
transacted hotel is very high which indicates some people still willing to invest in shopping
mall during pandemic. Thus, making the demand is high.

19
13.0 PROJECTION DEMAND

Our site

Source: Rancangan Tempatan Ampang Jaya

The Ampang Jaya local authority had zoned our redevelopment site as the commercial
zoning. Therefore, the local authority has conducted several initiatives to improve and upgrade
infrastructure surrounding the site to make it suitable for commercial purposes. This will have
a good impact on the development. Thus, the demand of commercial development in this area
will increase due to facilities provided. Many investors would view this as an opportunity then
invest in our redevelopment project.

20
14.0 PROPOSED LAYOUT

Subject Proposed Floor Plan Type of Building Redevelop Shopping Complex

Categories Commercial Sources Nu Sentral

21
15.0 IMITATION FROM THE EXISTING PROJECT

Shopping malls have evolved into multi-use destinations, with newer malls offering
even more variety for the sake of novelty. In Malaysia, as in other countries, there is a vast
selection of shopping malls that vary in merchandise, services, size, and layout. Since
then, developers have produced malls with unique and imaginative offerings to attract
customers. Consequently, we are inspired by a multitude of existing projects in Malaysia.

One of them is the Nu Sentral. Nu Sentral is an iconic representation of the fact that
there is always something "Nu" for everyone at the shopping centre designed specifically for
those who seek the ultimate urban lifestyle. This reflects the adoption of the transumers (transit
consumerism) concept, which was originally created to represent consumers in airports.
Currently, the term is used to describe a broader global trend of consumerism in which more
buyers are switching products and experiences at a faster rate than ever before, typically against
an urban backdrop. As Malaysia's first transumer (transit consumer) integrated lifestyle retail
mall, NU Sentral is an urban and hip shopping centre. Due to its seamless connection to "Stesen
Sentral" and the surrounding KL Sentral development, the mall is frequented daily by youths,
professionals, and social influencers. This mall has one of the largest green rooftops with
entertainment spaces, alfresco dining, and other distinctive features that signal its positioning
as a new urban shopping destination.

The flagship Sunway development converted 800 acres of abandoned mining land into
one of Malaysia's most recognizable mixed-use developments. Combining office buildings,
hotels, shopping malls, and numerous other commercial enterprises. We seek similar mixed-
use developments, particularly shopping malls with office space. We are also influenced by the
Sunway Pyramid shopping centre’s provision of technologically advanced parking spaces.
Sunway Smart Parking is the world's largest fully integrated Smart Parking System
with multiple cashless payment options. The cashless and ticketless parking
experience is part of Sunway's digitization journey to provide shoppers with
convenient experiences. When entering and exiting Sunway Smart Parking, drivers
do not need to retrieve and pay for a parking ticket.

22
16.0 IMPACT OF REDEVELOPMENT TO THE ECONOMICS AND SOCIALS
The plan to rebuild this brownfield land into the only shopping complex in that area
will undoubtedly have a positive effect in a variety of different ways. It seems as though a fresh
start is being given to the environment with the development of a shopping centre, particularly
in Pandan, Selangor. This is due to the fact that Selangor is one of Malaysia's most strategically
important and highly populated areas. The following is a list of the implications of the
redevelopment proposal that we were able to get.

16.1 IMPACT TO THE ECONOMICS


i. Creating new job opportunities

Generally, there are fewer employment openings available when the population is large.
Consequently, many individuals will be in risk due to the lack of employment opportunities.
Usually, each retailer that leases space in a new shopping mall must open a job vacancy with
new employees before it can open its doors to the public. Those who have been struggling to
find work to put food on the table would benefit greatly from this. With a new development of
a shopping complex, would nevertheless, provide a large number of job opportunities to the
local residents. For example, fulfil the vacancy of cashier at retail store or as waiter at fast food
restaurant that provide in the mall. Apart from providing a profit to the mall, it also can improve
people’s standard of living.

ii. Higher income level

Developing a new a shopping centre could make it easier for every store in the building to
remained in compliance with the law. Every retailer in a shopping mall benefit from the
presence of other retailers selling a wide range of goods and services. This is because people
enjoy spending their money in those places to fulfil their own personal desires. Visitors will
notice many businesses as they enter, increasing the likelihood of gaining more clients when
compared to running a business in a location where few people go or in a limited area. Due to
its prime location, a shopping mall would be the best venue to attract customers and increase
sales. Therefore, we are confident that the idea of redeveloping a shopping mall would
influence the seller or owner of the company to attract more customers, since they have a
right place to conduct business.

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iii. Increase property values

Since we are utilizing the highest and best use for this project, the redevelopment of a
commercial building can have a significant impact on its value, especially if the new building
looks very different from the original. In addition, the idea of a mixed-use development rather
than just a shopping centre provides a significant profit margin not only for the economy but
also for property values. This profit margin can be attributed to the fact that mixed-use
developments attract a wider variety of tenants. The demand for shop lots within the building
will increase as a result of the redevelopment of an older shopping mall into a new shopping
centre that also includes an office building and a transportation hub. This demand will help the
authority cover the costs of lease rent and assessment fees. This will result in the generation of
revenue that can be put back into the expansion of the economy. In most cases, an increase in
demand will result in a rise in the price of real estate.

16.2 IMPACT TO THE SOCIALS


i. Improvement of local infrastructure

The growth of a country's economy as well as the improvement of a society's standard of


living are both considerably affected by the infrastructure that is put in place. This is because
infrastructure contributes to improving in both social well-being and economic development
by delivering the fundamental services and facilities that are necessary for the growth and
expansion of socials as well as businesses. As a result of the new growth, it is possible that it
will be essential to upgrade the current infrastructure in the area. This is because the
redevelopment will bring with a new ideas and systems that will be integrated into the
infrastructure. For example, there is only a minibus station in the area, which is not very
convenient for the residents who live there. Therefore, with our redevelopment project will
enhancing the public transport excess since we are included a new transportation hub that
provided a range of transportation alternatives, such as express and transit buses, it may be
beneficial for both the locals as well as the travellers.

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ii. Provide variety of Choices and Services

Since our proposal is a "tenant mix," which is a term that refers to a mixture of
characteristics, that includes the percentage of space or number of units that are occupied by
various kinds of retail or service businesses, as well as the relative positioning of tenants inside
the shopping centre. The significant trade area of shopping centres that combine numerous
types of stores into one single area can attract all customers, who will seek out a broad range
variety of goods that are available within these stores. This is because shopping centres with a
large trade area could accommodate all of their visitors as well as their customers. The customer
may be able to get their needs and desires in only one place since there are a variety of brands
contained in this mall, such as Uniqlo and Padini as retail stores, Watsons and Guardian as
drugstores, Sports Direct and Al-Ikhsan as sports stores, and other types of famous brand stores.
As a result, the variety of stores located within a shopping mall is critical to the mall's attraction
because it determines the development of ideas related to the shopper's experience.

iii. Community Centre

The mall has the potential to serve as a community centre. A wide variety of retailers
serving to a wide range of consumer wants and needs may be found in any given shopping
mall, as was previously mentioned. There are several benefits to visiting a shopping mall
besides the wide selection of high-quality stores available inside. To begin with, there are
amenities such as restrooms, a surau, parking, and a food court available to the visitors. As a
result, people are able to save costs and time since everything is conveniently located in a
central point. In comparison to a single shop, the presence of many locations for various
services might be cumbersome and time-consuming. It may be more difficult for those who are
disabled to locate a parking space. The surroundings of the shopping centre have an additional
influence on the choices of the customers. Furthermore, with a maintenance and management
staff ensures that a shopping mall is comfortable enough with a well air conditioning system,
appealingly designed, sanitary and secure for the customers. Also, numerous customers live in
the area around our site will likely use our shopping centre since it is the nearest to them.
Consequently, we believe this place will serve as a centre of attention once the
redevelopment is done.

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17.0 CONCLUSION

The redevelopment of the Pandan safari lagoon shopping complex will be beneficial for the
people living in the surrounding area. This is due to the fact that the location is very strategic.
The existence data we obtain may allow the project development to proceeds without any
disruptions.As a result of our discussions, we have developed a plan to redevelop the subject
property for a variety of commercial uses. The idea was highlighted to improve the
environment with high quality of amenities.

The project will also boost market demand and create many new job opportunities. Mixed-
use commercial development is a draw not just for locals but for visitors from all over Malaysia.
Population data show that the majority of Selangor's residents are now individuals, making it
a prime location for the project's end goal of serving as a destination for regular use.. Apart
from that, the redevelopment includes a transportation hub. Leasing will be the primary source
of income for the redevelopment project. The higher monthly payments are a direct result of
the higher leasing costs.

Green environmental practises and sustainable development will be used to fulfil the
project's goals of enhancing the existing natural beauty and extending the economic life of the
area. Finally, we decided that the development would benefit most from a green setting. To
reduce emissions and pollution, this is a good strategy. We are confident that this project will
see many positive outcomes after adopting the green development concept.

Green environment and sustainable development principles will be used to carry out the
project, which will enhance the existing natural beauty and prolong the project's economic
viability. After much deliberation, we decided that a natural setting would be ideal for the
redevelopment. In addition to being an effective strategy, it is also a means of reducing
pollution and emissions. We have no doubt that this project will benefit greatly from adopting
the green development philosophy and incorporating it into its design.

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APPENDIX

Top View of Subject Property

Front View of Subject Property

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Cai Ying Hor, & Boon Aun Ng. (2019). EXAMINING FACTORS INFLUENCING
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Vendor. (2021, April 18). Green Technology Financing Scheme. Danajamin; Danajamin
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