Alam Jaya Commercial Centre (AJCC)

Lately, an agent friend approached me for 2-adjoining intermediate shop-office in Alam Jaya Commercial Centre/Square. So my first question to him is "where it's?"

He says AJCC is located at Ijok, Kuala Selangor; which give me a shock! It sounds like too far for me.

However, he told me there is loads of potential. So we immediately visited the location & these are what I found:

1. Cheap. Current owner is asking for RM650,000 only. He wanted to sell 2-adjoining units for RM1.3 mil.

2. Is actually just 35 minutes drive from my Office in Shah Alam (via Batu Arang Trunk Road)

3. Is an up and coming area because large developer started to develop along Batu Arang Trunk Road. Example: Sunway Kayangan, Sunway Alam Suria, Cahaya SPK, Alam Budiman (by Sin Heap Lee, developer of Sg. Long), Kayangan Heights (by Amcorp) & Bandar Saujana Utama (by Glomac).

4. AJCC is just 6km away from UiTM Puncak Alam, the largest UiTM Campus in Malaysia. The campus size is more than 1,000 acres & currently contains about 20,000 students. It will be fully operational by 2014 with target of 40,000 students.

5. OCBC, RHB Easy & UOB Bank is already in operational. There is no other bank within 20km radius.

6. Secret Recipe & Econsave also in operations

7. AJCC is within vicinity of Puncak Alam, Puncak Utama, Saujana Utama, Shah Alam 2 and Sg. Buloh Country Resort.

8. This is an 100 acres development by Barisan Elite Sdn. Bhd. (heard that this company is linked to one of the Malaysia Top 40 Riches) which contains 115 individual titles shopoffices surrounded 262 strata titles "streetmall" shopoffices as well as 2 blocks of Service Apartments to start construction by mid/end 2012.

A Standalone McDonalds, just about 2km away from AJCC

Under Majlis Daerah Kuala Selangor (MDKS)

This row seems a little bit empty compared to the Bank's row

Hope to hear from reader out there;
1. What's your take on this location / investment?

2. Anyone can verify or have more information on UiTM Puncak Alam?

3. Anyone aware of potential new "blue chip" tenant in this area? Heard Maybank, Public Bank, Pizza Hut, KFC etc is coming in too. Anyone have more info?

Btw, 1st floor of both units are tenanted for total RM1,400 (RM700 each). Both Ground floors are still empty but i understand the market rate is RM1600-RM1800 each.

Hope to hear from you. Thanks.