Branded residences such as the Banyan has heralded the new “age” of luxury developments in KLCC – notably with the launch of RuMa on Jalan Kia Peng and E&O Residences (by the same folks behind Dua Residency) as well as St Regis in KL Sentral. These launches are giving the KLCC real estate a much needed boost amidst slower pickup and flat occupancy rates which have plagued the area in the last twelve months. However, indications are that the influx of foreign investors are back in full swing, and this could well explain the current uptick in asking prices among KLCC condominiums.
Click here for the Banyan Tree “for sale” listings (and scroll down if the screen blanks out).
Banyan Tree was taken up rather quickly during its launch; in fact, according to an executive that we have spoken to, there were barely any marketing done as the brand name itself was a strong pull. Majority of the initial round of buyers were Malaysians while the rest consists of mainly Chinese, Hong Kong and Singapore nationals.
Premium Central Location
The KLCC skyline is always a sight to behold, and among the spectacular skyscrapers lighting up the night sky would be Banyan Tree Pavilion Signatures. The luxuries and comforts of modern living is paired with the Banyan Tree brand of hotels and apartments. This means that future investors can expect no less than impressive and excellent service, luxurious amenities, modern facilities, and overall satisfaction.
The Banyan is going to be located within a 1.5 acre freehold land at Jalan Conlay. KLCC is the centre of it all in a city that never sleeps, so expect to be part of the hustle and bustle that comes with the vicinity… and home to fabulous apartment buildings such as the Troika, Stonor Park and on its fringes, the awesome Cendana on Jalan Sultan Ismail.
Home to the best shopping malls in Malaysia, KLCC will never disappoint the shopaholic in need of retail therapy—as mall standouts Suria KLCC, Pavilion, and Avenue K are only within walking distance from the apartment. Anyone who has the time to balance work and play would love the nearby entertainment hubs, such as pubs, and clubs. Hospitals, schools, and other venues for leisure and activities are also within driving or walking distance.
Potential investors and buyers won’t be disappointed though, as the apartment lists several facilities that will bring down most of the competition. For one, its strategic location that comes with a perfect view of the Petronas Towers is worth the price—and it being near to the Bukit Bintang area adds to its value. A bridgeway connecting the apartment to Pavilion KL is also slated, making it very convenient for residents and guests to shop without any hassles. Offices and major corporate buildings are also nearby, making it a perfect location for expats conducting business in Kuala Lumpur, or for short-staying visitors with a lot of ringgit to spare.
Being near the Pavilion means that Banyan Tree’s “walkability” is superior. See this clickable map below to check where the closest amenities to the The Banyan Tree are. Toggle the amenities using the shortcuts on the right sidebar.
[poiautomap address=”3.150393,101.713269″ zoom=”15″]Banyan Tree[/poiautomap]
Banyan Tree KL’s GoodPlace Walkability Score (GWS) is 97 out of a possible 100. Being just right across the road from the Pavilion mall means that most important amenities are reachable by foot – hence the superior GWS score. For perspective, Pavilion Residences (built right on top of Pavilion mall) has a GWS score of 99.
For more information on the GoodPlace Walkability Score (GWS), and to get a beautiful KL city map with walkability information, click here.
Banyan Tree Prices
Hospitality giants The Banyan Tree is a world-renowned and well-respected name in the hotel industry. With its collaboration with local developers Lumayan Indah, the serviced apartment aims to be the best among the rest.
With the name comes the price, as expected. The projected price per square feet is estimated to start at RM 2,000—which is a hefty sum compared to other luxury condominiums in the KLCC area. Yes, it even tops the almighty OneKL!
Since prices have gone through the roof there have been some debates on whether the RM2,000+ PSF price tag reflects fair market value or not – especially when new, nearby city condominiums such as St Mary Residences are barely touching the RM1,200 PSF price tag even (at the time of the update of this review – prices may have gone up since then). The best way to estimate the fair price of Banyan Tree may be to benchmark it with comparable properties and perhaps then add a “branding” premium on top. For more information on how to do this, download GoodPlace’s “How To Value A Property” guide here. It’s free for readers of KLCCcondominiums.com.my 🙂
Configurations & Amenities
The Banyan Tree Pines has 441 units, which is divided into 441 private residences, 50 suites, and 51 serviced residences. One can choose from its 7 types of residences that comprise of a 1 bedroom to a 3+1 bedroom unit. Units measure from 1,076 square feet to 2,184 square feet.
Living the good life is easy with the apartment’s topnotch facilities and amenities. There’s a sky restaurant complete with a bar to be built at the tower’s rooftop, as well as the exclusive Banyan Tree Gallery and Spa. In addition, residents and guest can enjoy swimming in the apartment’s infinity pool, or relax in the Jacuzzi. There’s also a children’s pool and play area for the toddlers, as well as a pool deck, gymnasium, and a function room for special events and occasions.
Security is also topnotch, as residents and guests are assured of a 24 hour security system that comes with an intercom system and a smart card access system.
Compiled below are some stories or “gossips” which we have collated from people in the property niche – builders, agents, buyers and sellers. WARNING: the information below are not substantiated; use at your own risk. Unlock the content with a Facebook “like”.
Make no mistake about it – Banyan Tree is sold at a high premium. As the pricing median of KLCC condominiums still stands at around RM1,000 PSF, Banyan Tree’s RM2,000+ PSF price seems to be unsubstantiated, but its strong branding means that there is real possibility that it will perform better in the sub sale market than the regular, unbranded city condominium. When compared only between branded serviced residences like St Regis and Four Seasons, Banyan Tree is sold at a competitive price.
Analysis and Breakdown
A lot of property developments are expected to fill KLCC in quick bursts, so it seems. Around four luxury condominiums and apartments are currently in development near the area—the Ascott Sentral, W Hotel and Residences, and Best Western Dua Sentral. Crowded is one word we can use in this situation—also, traffic jams, construction noise, as well as pollution.
However, for those who wouldn’t mind these minor inconveniences will be in for a treat as The Banyan Tree is planned to be the next big thing in serviced apartments in the KLCC area. Its exclusivity and prestige is going to be a factor on why it’s going to be a good investment for those who can. The Banyan Tree is scheduled to be completed in 2015. Meanwhile, the forums at Skyscraper City is hot with discussions on Banyan Tree, especially regarding its rather premium asking prices.
Value for Money
Poised to be bigger, brighter and the cream of the crop, Banyan Tree is elite property - even by KLCC standards. Branded luxury residences is the future of KLCC properties, and Banyan Tree is leading the way.
We here at KLCCcondominiums.com.my are generally bullish about branded residences, and we expect this trend to dominate KLCC real estate for the few years to come. When compared to similar luxury real estate enclaves in the region (notably Singapore’s Orchard area and Marina Bay as well as Hong Kong’s ), price PSF of KLCC is comparatively cheap.
Banyan Tree would probably be best compared (in terms of pricing) with RuMa, the upcoming St Regis (albeit in Sentral) as well as Ascott and E&O Residences. RM2,000 PSF seems to be the new benchmark, but it’s important to factor in other considerations such as location, capital yield potential as well as rental yield. Use this free guide below to help you come up with a fair value estimation of a unit here at Banyan Tree –