Kanopi Residences @ City of Elmina
Powered by NAPIC + DOSM data
Generated 16 April 2026
Developer
Sime Darby Property
Location
City of Elmina, Shah Alam, Selangor
Type
Condominium/Apartment
Price
RM584k+
Tenure
Freehold
Completion
—
NewProjek Verdict
- •**Pricing & Value**: Entry point of RM584,000 is competitive for Shah Alam serviced apartments, offering reasonable affordability relative to similar developments in the Klang Valley, though long-term rental yield sustainability depends on occupancy rates in the serviced apartment segment.
- •**Location & Connectivity**: Shah Alam's established infrastructure provides good road access via major highways (LDP, KLIA Expressway), but the absence of nearby MRT connectivity limits appeal for public transport-dependent buyers and may impact tenant demand compared to newer developments in MRT-connected areas.
- •**Risk & Timing**: The unspecified completion timeline presents execution risk and potential delay exposure; investors should seek clarity on construction schedule and market conditions, as serviced apartment projects typically require stronger economic conditions and tourism activity to achieve projected returns.
NewProjek Score
7.8
Worth Considering
- • Verified developer with established track record
- • Freehold tenure provides long-term ownership security
- • Priced 19% above area median
Is this project priced fairly?
Selangor — Median Condo Prices (NAPIC)
| Year | Median Price | YoY Change |
|---|---|---|
| 2021 | RM450,000 | — |
| 2022 | RM460,000 | +2.2% |
| 2023 | RM470,000 | +2.2% |
| 2024 | RM480,000 | +2.1% |
| 2025 | RM490,000 | +2.1% |
Est. Monthly Rental
RM1,900–2,500
Based on similar properties in Selangor
Gross Rental Yield
4.0%–5.0%
Annual rental / property price
Area Price Trend
+8.9%
NAPIC data 2021–2025
Price-to-Income
4.9x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | ✅ Yes |
| RM7,000 | RM1.0 mil | ✅ Yes |
| RM10,000 | RM1.5 mil | ✅ Yes |
| RM15,000 | RM2.3 mil | ✅ Yes |
| RM20,000 | RM3.2 mil | ✅ Yes |
Based on 4.5% interest, 35-year tenure, 70% DSR, RM500 existing commitments, 90% loan margin
DOSM income data for Selangor
Median Household Income
RM9,983/mo
DOSM 2022
Mean Household Income
RM12,233/mo
DOSM 2022
Households Above RM8k
~56%
Estimated for Selangor
Similar projects in Selangor
| Project | Location | Price From | Status |
|---|---|---|---|
| Sunsuria Forum SOHO @ Setia Alam SP Setia | Setia Alam | RM298k | Recently Completed |
| Vierra Residence @ Kinrara, KL | Puchong | RM300k | New Launch |
| Cassia Residence @ Laman View, Cyberjaya | Cyberjaya | RM319k | New Launch |
✅ Why Consider
- • Freehold tenure ensures long-term asset ownership and appreciation
- • Shah Alam location offers established commercial and residential hub
- • Serviced apartment model provides rental income potential for investors
- • Competitive pricing at RM584,000 entry point for property market
- • City of Elmina development brings modern amenities and facilities
⚠️ Risk Factors
- • Under construction — completion delays are possible
- • No MRT/LRT station listed nearby — may affect future demand
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Disclaimer: This report is generated using publicly available data from NAPIC, DOSM, and developer disclosures. Rental estimates, yield projections, and risk assessments are indicative only and do not constitute financial advice. Market conditions may change. Consult a licensed property valuer or financial advisor before making investment decisions. NewProjek is not responsible for any decisions made based on this report.