Marina ParkCity is a premier mixed-use development located in the vibrant city of Miri, Malaysia.

This sophisticated community seamlessly integrates residential, commercial, and recreational spaces, offering residents a unique blend of urban convenience and natural tranquility. Developed by Park City Holdings, Marina ParkCity stands as a testament to modern design and sustainable living, attracting both local and international attention.

The development is designed to cater to diverse lifestyles, making it an ideal choice for families, professionals, and investors seeking a dynamic yet serene environment.

Features

1. Prime Location

Strategically situated along Miri’s picturesque coastline, offering breathtaking views of the South China Sea.
Proximity to Miri’s city center, providing easy access to shopping, dining, and entertainment options.
Close to Miri International Airport, ensuring convenient travel for residents and visitors.

2. Dynamic Commercial Hub

Home to Miri Times Square, a bustling area filled with retail outlets, cafes, and restaurants.
Features a cinema complex and vibrant night market, providing a rich array of entertainment options.
Hosts a variety of international and local brands, catering to diverse shopping preferences.

3. Diverse Residential Options

Offers a selection of luxurious high-rise condominiums, modern terrace houses, and exclusive villas.
Designed with contemporary interiors, high-quality finishes, and spacious layouts for comfortable living.
Equipped with state-of-the-art amenities, including swimming pools, fitness centers, and playgrounds.

4. Recreational Facilities

Boasts the Marina ParkCity Waterfront with a scenic promenade for walking and cycling.
Provides a well-equipped marina for boating enthusiasts and water sports activities.
Includes lush parks and landscaped gardens for outdoor leisure and relaxation.

5. Sustainable Living

Incorporates eco-friendly initiatives such as energy-efficient designs and water conservation systems.
Emphasizes green spaces and sustainable practices to enhance the living environment.
Commitment to preserving the natural beauty and ecological balance of the area.

6. Community Engagement

Fosters a vibrant community spirit with regular events, workshops, and cultural festivals.
Supports various community clubs and organizations catering to diverse interests.
Promotes an inclusive and engaging atmosphere for residents of all ages.

7. Investment Appeal

Attractive opportunity for real estate investment with strong capital appreciation potential.
High demand for rental properties due to strategic location and premium amenities.
Offers excellent returns for both short-term rentals and long-term property investments.

Sub-Sale Market Analysis

Marina ParkCity in Miri is a luxury residential development that offers a range of properties, including bungalows and villas.

Here are some insights into the sub-sale market transaction and rental prices for Marina ParkCity in Miri as of 2023:

Transaction Prices: The transaction prices for properties in Marina ParkCity range from RM 1 million to RM 2.5 million. These prices reflect the luxury and exclusivity of the properties in this development[3].
Rental Prices: The rental prices for properties in Marina ParkCity are between RM 3,500 to RM 10,000 per month. These prices are influenced by the luxurious amenities and the strategic location of the development[3].

Key Features:

Luxurious Living: Marina ParkCity offers luxurious living with modern designs, spacious layouts, and beautiful landscaping.
Exclusive Lifestyle: Residents enjoy an exclusive lifestyle with easy access to recreational facilities like golf courses and beaches.
Strategic Location: The development is strategically located, providing convenience and accessibility to various amenities and services.

Comparative Insights:

Marina ParkCity vs. Luak Bay: While Marina ParkCity stands out for its luxurious amenities and modern designs, Luak Bay offers stunning coastal views and a more laid-back lifestyle. Both locations cater to affluent buyers but provide different living experiences[3].

General Market Trends:

Economic Growth: Miri’s economy, bolstered by the oil and gas industry, has fueled both transaction and rental prices.
Urbanization and Development: New amenities and developments have enhanced property values, making areas like Marina ParkCity highly desirable.
Demand vs. Supply: The growing demand for quality properties in Miri, combined with limited supply, has led to upward pressure on prices[3].

Sources:

Commercial Property Transaction and Rental Prices

Marina ParkCity in Miri, Sarawak, is a master-planned waterfront township that offers a mix of residential and commercial properties.

The commercial segment, particularly the SOHOs (Small Office/Home Office) at Miri Times Square, has been attracting investors and businesses due to its strategic location and modern amenities.

1. Transaction Prices:

Shophouses: The transaction prices for shophouses in Marina ParkCity can be quite high. For example, a 7-storey shop office in Marina Square Phase 1 of Marina ParkCity was listed for RM 15,500,000.00 (negotiable)[3].
General Market Trends: The Sarawak All House Price Index (SAHPI) increased by 3.2% in 2022, reaching an average house price of RM500,705. The commercial property market, particularly the shophouse sector, accounted for more than 87% of total commercial transactions in 2022[4].

2. Rental Prices:

SOHOs @ Miri Times Square: The rental prices for SOHO units in Miri Times Square can vary based on the size and location. However, specific rental prices for these units are not provided in the available sources. For general context, properties in Miri have rental prices ranging from RM 900 to RM 4,000, with an average cost of RM 1,899[2].
Other Commercial Properties: Rental prices for other commercial properties in Miri, such as shoplots, can vary. For example, a shoplot in Assar Commercial Centre, By-pass, Miri, with a built-up area of 1,000 sq.ft., is available for rent, but the specific price is not provided in the available sources[2].

Key Points:

Strategic Location: Miri Times Square is located in the central business district, offering easy access to banks, government agencies, corporate offices, pharmacies, eateries, and clinics[1].
Modern Amenities: The development features modern design and amenities, including motor-court-fronting shops with double-volume space and mezzanine flooring, which attract businesses and residents[1].
Market Outlook: The commercial property market in Sarawak is expected to see a decline in demand for office and retail units in less strategic locations, while industrial properties and landed residential properties are expected to see steady demand[4].

Sources: