Exciting times lie ahead as Binjai 8 (not to be confused with Binjai On The Park or Binjai Residences), the latest development from UOA Group, is already gracing the KLCC skyline well before its targeted completion date of end 2013. The property, which sits on one acre freehold land, is tagged to be a “modern home development”—a tower comprising of 40 storeys that houses 310 units, complete with all the modern facilities and amenities a typical urban-dweller would definitely ask for.
Click here(and scroll down if needed) if you are looking for Binjai 8’s latest property listings.
The Binjai 8 is part of the recent trend of a slew of “Premium Soho” developments which was recently highlighted in this article in The Edge.
Like any condominium that is located in the KLCC enclave, residents can enjoy living in a location surrounded with the benefits and conveniences only the KLCC district can provide. The suite-service type condominium is within close range to the best restaurants, entertainment hubs, schools, hospitals, and shopping malls. Five-star hotels also surround the vicinity, including Nikko Hotel, Mandarin Oriental, and the Corinthian. Located at a sweet spot opposite the Corinthian and next to Binjai Residency, Binjai 8 is off Jalan Binjai which also houses the magnificent Troika.
We have collected some “insider” information about this property which you can read by unlocking the box below via a Facebook like. Warning: this information has been relayed to us by third parties (agents and buyers mostly), and we have not independently verified them. Do not base your investment decisions based on this information alone.
Binjai 8 Prices & Built-Up Areas
The Binjai 8 units start at 753 square feet. Its largest unit measures for 1,784 square feet. Units come in a typical one bedroom to a four bedroom layout. The massive tower comprises of 40 floors, and is divided into the following:
- 33 storeys, exclusively for serviced residential suites
- Seven floors for parking bays
- Two floors reserved for recreational facilities and amenities
Units were made available to the public since December 2009, and the price per square feet was listed at RM1,000. This 2013, price per square feet is listed at RM844, and at RM1,180 per square feet for the condominium’s larger units.
A quick check at the local property portals show that the PSF price already breaches the RM1,300 point; there are some cheaper units at RM1,100 PSF – these are probably units with the view blocked by the neighbouring Troika. Use this valuation guide to find out what’s the fair price that the potential buyer should be paying for Binjai 8.
Update: Check out the chart below for PSF price trends (updated as new data is loaded up in real time):-
As of this writing, it has been reported that almost 60% of the condominium units have been sold—interestingly enough—the property developer hasn’t even announced its official launch date yet. This says a lot about the potential of the condominium: if buyers and investors were willing to invest on a unit without even knowing when its slated launch date yet, I can only imagine the trust and confidence they have invested in the property (apart from the money, of course)—it must be through the roof. That is always a good sign, in KLCCCondominiums.com.my’s books. 🙂
To Invest or Not to Invest…?
Speaking of investment, it’s no wonder how quick units were sold ever since 2009 —apart from the convenience KLCC brings, it’s obvious that the luxurious condominium is capable of bringing state-of-the-art living complete with the luxury to its residents.
Facilities include: a full glass-clad gymnasium exclusive only to residents, as well as a sky lounge perfect for unwinding after a busy day of work (preferably with a drink in hand). There is also a swimming pool, function and business rooms, a visitor’s lounge for weary guests who got too tired from shopping at nearby Suria, and a meeting room. The entire condominium is broadband-ready, which means no-more-stealing-from-neighbour’s-unsecured-wifi-connection. Thank God. 🙂
As for security, the condominium has CCTVs installed, and requires an access card for residents to enhance the security within the premises. A 24-hour security patrol is on call 7 days a week.
Accessibility & Walkability
The location of the condominium makes it easy to travel anywhere. With links via KL Smart Tunnel, the Duta-Ulu Kelang Highway (DUKE), the Middle Ring Road 2, the North-South Highway, and the Pantai Baru Expressway, it’s always convenient to travel to anywhere. Public transportation can also be accessed easily, as Ampang Park RapidKL LRT station is just within distance. Cabs and bus stops are also prominent around the area.
Binjai 8’s GoodPlace Walkability Score is 81. For more information on what this means, and to download a free Walkability map, click here.
This interactive map below shows where the closest amenities to the Binjai 8 are. Click on the icons in the right sidebar. 🙂
[poiautomap address=”Binjai 8 Premium Soho Lorong Binjai Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Binjai 8[/poiautomap]
Pros vs Cons
It’s always appealing to invest on a property that is listed as a “modern-home-development”—and upon examining the list of facilities the Binjai 8 has in store for its residents—it’s definitely a catch. Being in a convenient location that gives access to all the happening and hip places in KLCC is a big plus, and it wouldn’t hurt that the building’s interiors and overall design all depict a modern home development that would go perfect with anyone who lives a fast-paced and an active lifestyle.
On the other hand, as with any other condominium in the KLCC area, the location is vulnerable to too much people and vehicles, so be ready for those hours being stuck in a traffic jam. This mini-enclave on Lorong Binjai is also highly dense with Binjai8, Troika and Binjai Residency literally side-by-side and perhaps too close for comfort.
We do think that the KL real estate market is trending towards mixed developments where one could literally walk to work, and SOHO developments are a “side effect” of this trend. The traffic jam problem in KL will only worsen over time, and with this SOHO developments such as Binjai 8 will gain more traction.
It is also interesting to note that the next door Troika also has got some SOHO units, and these might be a good alternative to Binjai 8. Remember to factor this in when figuring out what’s the best, “fair” price to pay for Binjai 8. Use this guide below to help you.