Gaya Residences

Gaya (also known as Gaya @ Melawati) is an integrated residential and commercial development nestled within Sime Darby's master development of Pusat Bandar Melawati in the established Melawati vicinity. It comprises of 240 units that sprawl over four 11-storey blocks. There are 3 types of residences to choose from; studio, 2 and 3-bedroom apartments. The studio unit has built-up size of 490 sf. Besides residences, Gaya also comprises shop lots (below the apartment) and offices (individual blocks). The retail-shop lots are located on the first 2 levels of the apartment blocks. There are a total of 24 units of retail-shop lots. There are a total of 2 office blocks of 4-storey high (known as Block 5 and 8) located side by side to the shop and serviced apartment blocks. There are a total of 28 units built for these 2 blocks. Gaya can easily accessible via Middle Ring Road 2 (MRR2). In addition, this mixed development is within close proximity to the accesses of Jalan Genting Klang, Ampang-Kuala Lumpur Elevated Highway, Karak Highway and Duta-Ulu Kelang Expressway (DUKE).

Property Details

Name: Gaya (also known as Gaya @ Melawati)

Address: Pusat Bandar Melawati, Ampang, Selangor

Developer: Sime Darby Property

Completion Date: May 2012

Type: Serviced Apartment, Shop & Office

Tenure: Freehold

No. of Blocks: 6

No. of Storey: 4 & 12

No. of Units

Apartment: 240

Retail-Shop Lot: 24

Shop-Office Lot: 28

No. of Bedrooms: 1 - 3

No. of Bathrooms: 1 - 2

Built-up: From 490 sf

Launch Price

Studio: From RM142,000 (Bumi); RM153,000 (Non-Bumi)

2-Bedroom Apartment: From RM263,000 (Bumi); RM283,000 (Non-Bumi)

3-Bedroom SOHO: From RM289,000 (Bumi); RM311,000 (Non-Bumi)

Facilities

Swimming pool

Landscaped garden

Car park

Market Trends

Analysis

Gaya has received tremendous response from buyers. The Phase 1 that comprises 2 blocks was 80% sold after 2 weeks. Due to the good response, the Phase 2 was launched just a month afterwards. Among the reasons of the good response is good sales package by the developer. The developer offered Developer Interest Bearing Scheme (DIBS) with 12 months interest free for the 10% down payment. Plus, special rate of BLR minus 2.3% is also offered to buyers. Besides that, 3 commercial blocks were sold as en bloc. It was reported that Block 2 to was sold to a European multi-national company, while Block 5 and 8 were sold to a Singaporean investor. Hopefully, these investors will bring in business and help to grow the area into a business hub. However, many investors have a doubt on the success rate of Gaya. One of the issues raised is Sime Darby's reputation which the developer has failed in several commercial developments such as Ara Damansara's shop lots, Putra Height's Medan Putra and USJ 25 - whereby these commercial areas are not flourishing as planned. The failure is because of Sime Darby's main focus on only selling the properties, unlike some reputable developers which will keep few units for prime tenants to become the anchor.Besides that, supply is another issue because there are several new high-rise residential developments nearby such as Saville, 3 Residen, K Club Residence and the massive Platinum Victory's Platinum Hill Series condominiums (such as Platinum Hill PV5 and Platinum Hill PV3) in Taman Melati.