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Durian fervor in China: how China-ASEAN synergy bears economic fruits
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Durian fervor in China: how China-ASEAN synergy bears economic fruits
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When anyone mentions Taman Billion in Cheras, the Western food restaurants in Jalan Siput Akek invariably come to David’s mind. The housing estate on higher ground, which comprises only landed properties, is adjacent to the Kuala Lumpur Middle Ring Road 2 (MRR2) and Jalan Cheras.
These two thoroughfares are also the two main entrances into Taman Billion and, whichever one you take, the first road you arrive at in the development will be Jalan Siput Akek the only commercial street there.
The road is lined by a row of 4-storey shopoffices, housing mostly F&B outlets, as well as trading companies and shops offering various services. The landmarks include Charis Christian Centre and Western food restaurants such as Kafe Kaki Corner, Samosa Café & Catering and Rendezvous Steak Garden that have been around for about two decades, apart from other cafés and Chinese restaurants there.
Terraced houses and condominiums enjoyed some of the best returns and capital appreciation prior to the influx of high-rise units in the Klang Valley property market in the mid-2000s, says PPC International Sdn Bhd managing director Datuk Siders Sittampalam. Rents generally declined owing to the increased supply, he adds.
“Owing to the rising cost of land, developers adopted vertical development. The growing population and demand for housing led to the growth of high-rise developments, and land for development became scarce and costly,” Siders says.
On top of the persistent soft market, last year had been challenging to both the economy and the property market generally, owing to the Russia-Saudi Arabia oil price war, US-China trade war, change in government in Malaysia and the Covid-19 pandemic, Siders notes. “The real estate market [saw] declining sales volume, capital values and rental returns or yields.