The Star reported recently that the former light industrial zone of Section 13 in Petaling Jaya will be moving towards a brighter commercial future.
Petaling Jaya City Council (MBPJ) had approved more than 15 redevelopment projects for the urban renewal of the 105ha leasehold neighbourhood. Many property developers were eager to unlock the growth potential in the area.
MBPJ has also approved building plans for mixed development projects including commercial, retail, institutional, residential/mixed use, two hotels, a private hospital, places of worship and recreational facilities, among others.
Real estate valuers now say land values in the vicinity could go as high as RM650 psf for the smaller plots compared to only about RM200 psf in 2010.
Spurred by a 10-year special area plan mooted by MBPJ, majority of land parcels today are now zoned for commercial purposes with a commendable plot ratio of 4 to 4.5.
The improving accessibility to several major highways were often cited as a major pulling factor for the area.