Where to find the best rental deals near IC Design Park

• Using data from EdgeProp EPIQ mapping tools, we help you find leasing options in the area, for both the affordable and high-end ranges; as well as rental yield rates if you are looking to invest.

PETALING JAYA (June 27): Southeast Asia’s largest Integrated Circuit (IC) Design Park is being established in Puchong, Selangor. Located at the Puchong Financial Corporate Centre (PFCC), it aims to position Malaysia as a potential leader in the global IC design industry. 

Spearheaded by the Selangor Information Technology and Digital Economy Corporation (Sidec), the state government’s digital economy arm, and in collaboration with the federal government, the project has so far secured partnerships with four prominent local and international companies — ARM Ltd, Phison Malaysia, SkyeChip Sdn Bhd and Shenzhen Semiconductor Industry Association.

Ever since Prime Minister Datuk Seri Anwar Ibrahim made the announcement of the IC Design Park at the inaugural KL20 Summit 2024 in April, Malaysian semiconductor companies from abroad have shown interest in relocating or expanding their operations here.

Because of the strong interest from both local and international companies, the project’s original 45,000-sq ft facility has been expanded to 70,044 sq ft, marking a 56% increase in capacity. 

This expansion is expected to generate around 300 high-paid engineering jobs with starting salaries between RM5,000 and RM6,000 for entry-level positions up to RM7,000 for those with extensive industry experience or a Master’s degree.

Offering highly competitive salaries to attract top talents, the IC Design Park is actively recruiting skilled candidates with degrees in electrical and electronics engineering, mechanical engineering, mechatronics and computer science.

With the IC design hub set to commence operations by July 2024, and the current active recruitments for high-skilled talents from outside Puchong, the primary concern for these future workers would be finding suitable rental accommodations. 

To address this, we have made a list of high-rise properties within 5km of the IC Design Park, along with their monthly rent prices. Using data from EdgeProp EPIQ mapping tools and EdgeProp property listings, we help you find rental options in the area, for both the affordable and high-end ranges; as well as rental yield rates and median sale asking prices if you are looking to invest. 

Methodology

We have selected only high-rise properties whose asking prices were RM400,000 and above in EdgeProp property listings as at mid-June. This selection caters to potential employees in the IC Design Park, whose affordability levels are deemed to be in the mid to high ranges. 

From affordable to luxury units to suit your budgets and lifestyles

For renters looking for affordable properties to rent below RM2,000, these were the top five high-rises with the lowest monthly rent prices: 

1. Casa Puteri (from RM1,022.45)
2. Skypod Residences (from RM1,363.10)
3. Casa Tropika (from RM1,398.34)
4. Hijauan Puteri Condominiums (from RM1,592.10)
5. Avilla Apartment (from RM1,597.20)

On the other end of the spectrum, for those seeking more upscale living, there were five developments with monthly rent prices above RM3,000:

1. TRiGON Luxury Residences (from RM4,226.88) 
2. Sky Condominium (from RM4,045.52)
3. Skyz Residence (from RM3,943.66) 
4. Aseana Puteri (from RM3,876.60) 
5. Le Pavilion (from RM3,102.32) 

High-yield high-rises for investment

For those considering to buy these properties for rental income, the top five residential blocks with the highest gross rental yields were:

1. Avilla Apartment (5.03%)
2. Setia Walk Apartment (4.93%)
3. Sky Condominium (4.9%)
4. Zen Residence (4.87%)
5. Skyz Residence (4.83%)

However, the median sale asking prices were higher for Sky Condominium (RM597.82 psf) and Skyz Residence (RM591.20 psf) compared to the second highest (Setia Walk Apartment — RM468.71 psf) and highest (Avilla Apartment — RM454.98 psf) rental-yield properties, while Zen Residence posed the lowest asking price (RM360.17 psf) among the five.

There are also four upcoming non-landed properties in the area if investors are looking for new properties to snap up now — The Pulse Residence, Residensi Danau Puchong, The Wyn Residences and Loop City @ Puchong (Loop Residences), with The Pulse Residence set for completion in the third quarter of this year. 

(It’s important to note that other variables that are not covered in this data may influence the median rent rates and median sale asking prices such as the building conditions, the number of facilities offered, proximity to commercial hubs and/or rail transit stations, the quality of the resident communities, etc.)

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