10/03/2025
PROPCAFE You Say, I Say - Cyberjaya and Parkcity Botanika
Buddy: It has been quite a while since we last heard from PROPCAFE.
PROPCAFE: Yeah, to be honest, nothing really excited us over the last two years, especially for investment purposes. The last one was probably Noora, Desa ParkCity.
Buddy: How about Adiva, ParkCity Botanika - Cyberjaya?
PROPCAFE: Interesting that you brought it up. I believe you mentioned it because Perdana ParkCity is the developer for this project, rather than the location, right?
Buddy: Yes, of course. They have the reputation for building great townships, and they’ve proven themselves.
PROPCAFE: How about Eco World, formerly SP Setia, which built Setia Alam? What about their Eco Majestic and Eco Forest? Aren’t they proven too?
Buddy: Hmm, okay. I understand.
PROPCAFE: Alright, let’s talk about this topic. You know, PROPCAFE was one of the earliest property reviewers to talk about Cyberjaya. We were the ones who started compiling and providing the most comprehensive analysis on Cyberjaya 10 years ago.
Buddy: Yes, we’ve been following you since then.
PROPCAFE: Thanks, and sorry for not doing much for our followers recently. 😞 Well, we were pretty positive about the outlook for Cyberjaya back then and believed it would finally take off when the master developer, Setia Haruman, allowed more developers to come in and build the residential part of Cyberjaya, especially SP Setia and Paramount.
Buddy: The compilation of supply and demand and project reviews were published by PROPCAFE. Real good stuff.
PROPCAFE: To be honest, in terms of infrastructure, it’s one of the best in Malaysia. Amenities have also significantly improved over the last 10 years—eateries, malls, chill places, lifestyle cafes, all aplenty. There are now Chinese and more international schools, hospitals, and even bak k*t teh, as expected.
Buddy: Maybe the land is big, and the projects and amenities are somewhat isolated from each other. I don’t really feel it.
PROPCAFE: You’re right. Perception is the enemy of Cyberjaya. Well, we bought landed property there after we analyzed the potential 10 years ago. We really believed in it. We didn’t just “blow water.” We are PROPCAFE.
Buddy: So, what’s your take now?
PROPCAFE: I personally left Cyberjaya and sold my landed property there with very minimal gross profit. If you want to consider net profit, I think it wouldn’t have been much different for me to put in 30% down on an FD for 10 years. It didn’t sit well in my portfolio—basically, everything else performed better than this. Well, to be honest, when it comes to rental yield, you just cannot compare landed properties to high-rises. The thing that bothers me most is that capital appreciation didn’t move much either.
Buddy: Shouldn’t landed property the safest?
PROPCAFE: Yes, it is. No issue renting it out to either expats or locals over that period due to plenty of job opportunities and commercial activities there. Negative income, yes. But it still helped reduce a small portion of the principal loan amount. The thing is, capital appreciation is extremely slow and small.
Buddy: Why?
PROPCAFE: First, there’s a lack of foreign investors. Foreigners are only allowed to buy landed property in Selangor if it’s priced at RM2 million or more. So, you’re literally relying on locals. Quite a few Puchongites bought property there and moved from Puchong/Kajang, as well as some retirees. I have to say that local families love it there but they tend to rent landed properties in Cyberjaya, not owning it. It could be due to the price, which is relatively more expensive than many other townships. It is a multi-racial community, unlike some townships dominated by a particular race.
Buddy: The big players are there, yet it’s still not taking off?
PROPCAFE: Yes, they came in and improved the infrastructure, like SEG’s flyover to Linkaran Putrajaya toward MEX. But like you said, it’s too isolated, and the whole of Cyberjaya isn’t walkable. The bund at Setia Eco Glades isn’t accessible to the public, and in fact, the small lakes between the islands in SEG’s parcels are ring-fenced, meaning they’re not visible or accessible for Cyberjaya residents to enjoy.
Buddy: How about ParkCity Botanika? It creates its own township within Cyberjaya, right?
PROPCAFE: Yes, based on the information shared. But here are the challenges:
1. Unlike DPC’s size of 473 acres, ParkCity Botanika (PB) is only 259 acres. That’s just slightly more than half of DPC. Is it sufficient to have the impact and be a self-sustaining township?
2. There’s a foreign purchaser restriction with a minimum price of RM2 million. DPC thrived due to the mixture of foreign and local participation, which made upward pricing more sustainable. This is a question mark here. Let’s see whether units priced at RM1.7 million and RM2 million will increase in value in the near future.
3. DPC attracted many foreigners when amenities started to mature, around 2012 or 2013, if I remember correctly—about 5 to 7 years after the first parcels were delivered and amenities like hospitals and Arcadia made it more complete. Initially, it was just the waterfront, which was clearly not sufficient. It means PB may take time.
4. The change in perception of Cyberjaya is a challenge. It is established in my eyes, but many don’t agree. At least that’s been my experience when talking to others. I thought with the Chinese school being built and started, we’d see Chinese families flood in, but unfortunately, that hasn’t been the case. Still, we’re waiting for that change.
5. The current properties and large parcels built by different developers aren’t interconnected, meaning there’s a lack of “concentration” of human traffic, which makes Cyberjaya feel empty. Some even refer to it as a ghost town (though PROPCAFE clearly disagrees).
Buddy: Wow, the outlook seems pretty negative?
PROPCAFE: Not really. Based on my observation as a property owner here for the past 10 years, I’ve seen more tenants moving in, thanks to the new schools and universities. MNCs are still relatively solid here, though you see companies coming and going over the years. Some expats and foreign teachers are still here. With more job opportunities and leading sparks like Tesla, along with new developments such as a new golf course and technology park, I would say it will happen, slowly but surely. The question is, when?
Buddy: What are the positives of ParkCity Botanika (PB)?
PROPCAFE: Many people don’t realize that PB is near to Puchong! Yes, the rather undeveloped part of Puchong. But we see it as a catalyst, as it will bring Cyberjaya and Puchong closer together! It’s not just an imagination on a map, but it will become a reality when more cars travel this part of Puchong to Cyberjaya.
Buddy: Cyberjaya needs more than just this, right?
PROPCAFE: Yes. If there’s any developer who can make people believe and has the capability to change the perception, it has to be Perdana ParkCity. 🙂
Buddy: How?
PROPCAFE: Their master plan is different from SP Setia, Paramount, etc., in Cyberjaya. They are trying to build the amenities within ParkCity Botanika, which will help bring people together. This will create the concentration of human traffic, and you’ll be able to feel the vibrancy of this part of Cyberjaya.
Buddy: What else could PB do to make a difference?
PROPCAFE: Cyberjaya doesn’t seem to be a walkable environment now, but ParkCity is known for making this happen. Look at their master plan: the pathways seamlessly connect points of interest, amenities, lakes, etc. None of the current developers are doing this. So, you’ll see more people on the streets, on pathways, cycling lanes, and taking evening walks along the lakesides.
Buddy: What is the main thing that PB could change about Cyberjaya’s property landscape?
PROPCAFE: This whole master plan will bring a new lifestyle to Cyberjaya residents. It will become the magnet of the whole of Cyberjaya.
Buddy: Does this mean it’s worth investing now?
PROPCAFE: The million-dollar question, which we can’t answer right now. As we mentioned earlier, there are challenges. But I’m sure all existing Cyberjaya residents are happy to see PB coming to Cyberjaya. This increases the chances of success for Cyberjaya as a whole. As for the rest, we’ll only know in 5 to 7 years, or maybe 10.
Buddy: Shall we talk more about ParkCity Botanika?
PROPCAFE: We’d need another hour to record it here. Let’s save it for the next round of chit-chat. Enjoy your weekend! Ciao!
Buddy: Alright, we’ll leave it for the next round!
What say you, guys? Please share your view here!
