One of the trends nowadays for commercial developments is to be lifestyle-centered, where business, food, leisure, and retail are combined. Adding to this list is IOI Boulevard in Puchong, which was developed by, well IOI. In particular, it is situated in one of Puchong’s fastest growing areas, Bandar Puchong Jaya.
IOI Boulevard comprises of office, retail, and an alfresco area. There are 6 retail office blocks and the “Palatte”, which consists of 36 2-storey retail outlets, 6 blocks of 8-storey office outlets, and a beautiful 108′ × 240′ courtyard complete with a glass canopy, water features, and an alfresco sidewalk cafe area.
Other than being a retail hub, IOI Boulevard aims to help foster the local art scene by allowing budding performers and artists to display their talents, free of charge. The rental price for the units are RM600 and more psf for the ground floor units, while it is RM350 and above for some other units. The estimated rental price for each unit is RM3,800 onwards. The average built-up area is about 11,050 – 17,680 sf while the corner blocks are 45,000 sf per block, making this RM17 million each.
IOI Boulevard is easily accessible via the KESAS Highway and the LDP Highway. It has a large population catchment area, and is just a few minutes drive to USJ, Subang Jaya, and Bandar Sunway. It is also an area that connects to Bukit Jalil, Putrajaya, and Cyberjaya. Neary landmarks which complement IOI Boulevard include the IOI Mall, Puchong Jusco, IOI Business Park, and Binary University College.
IOI Boulevard is a lifestyle-centric commercial development. It is located in a strategic location and therefore has a high investment value since it is in the fast-growing, popular area of Puchong. It has freehold tenure, which enhances its appeal to investors or businesses seeking a long-term business venue or a long-term investment for their portfolio.
The office lots will display a contemporary yet classy image, so companies will find this location a boost of business. In addition, it is easily accessible and has an established potential population catchment. As it seeks to promote artists, this will attract potential visitors to the unique attractions here. This makes it an excellent location to unwind after study or work or just to get inspired.
However, there are a few drawbacks. The main drawback is the price, as IOI Boulevard is priced higher than average. As a result, some businesses and investors may find IOI Boulevard overpriced. Puchong is also notorious for traffic congestion, so IOI Boulevard popularity will increase the congestion, particularly around peak hours.
IOI Boulevard may be costly, but it is unique and can be seen by some as a good place to invest in. There may be a possibility that the value will drop in the future due to over-supply of retail outlets and commercial offices.