What I liked about PJ Old Town was its close-knit community,” he recalls, adding that it was a place where everyone knew each other’s name. “Rezoning PJ Old Town to commercial use may emulate the successful redevelopment of Petaling Jaya’s Section 13,” he says. “When the zoning is changed to commercial, the land in PJ Old Town will be an ideal target for developers wishing to develop commercial projects in the Old Town areas.”Outlook“All four sections in PJ Old Town were not very active in 2020. “Many existing buildings in PJ Old Town are old buildings, which may be physically and economically obsolete. “Due to its strategic location, PJ Old Town is ready for redevelopment, which should be carried out holistically, and priority should be given to old and obsolete buildings to optimise the potential of the location.”According to Laurelcap’s Toh, “Transactions have been relatively slow in PJ Old Town, with two transactions occurring in 2021, and five transactions in 2020 in Section 4.

Source: The Edge Markets August 03, 2021 08:03 UTC