Archives For KLCC

Stonor Park

April 17, 2014 — 2 Comments

The Stonor Park’s claim to fame: won the FIABCI‘s Best High Rise Residential Building award back in 2007. Occupying a prime spot next to Park Seven and right across the road from The Binjai, Stonor Park remains in the “upper tier” among condominiums and apartments in the KLCC enclave.

Click here
(and scroll down if needed) if you are looking for property listings for Stonor Park.

One of the very first luxury KLCC condos in the market, the development was launched in 2003 by Beneton Properties (the developer behind the boutique Hotel Maya – less than 1km away from Stonor Park, Menara Perkeso and Plaza 136) and completed in 2006. Despite its rather “venerable” status, Stonor Park is well maintained and still command a rather premium even when compared with newer condominiums in the KLCC area.

Stonor Park is part of the “Binjai” cluster of KLCC condominiums which are known for their above average pricing and good location with superior walkability. More on walkability scores later.

Stonor Park remains very well maintained, and still commands a premium with its location as its prime advantage

Stonor Park remains very well maintained, and still commands a premium with its location as its prime advantage

With Platinum Park being built right across the road, we would expect the “spillover effect” with demand (and prices) to continue to go up; launch prices for Platinum Park are estimated to be around the RM2,000 per sq ft levels.

Insider Gossip

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What’s Included In The Box

There are two blocks of twenty stories housing some 71 units of luxurious freehold condominiums priced at around RM1,000 per sq ft (which is a double of its launch price at RM500 per sq ft, but that was way back in 2006). To determine if these are fair prices, download our easy valuation guide here. More details on the pricing later in this review.

Build-up area ranges from 2,000 to 8,000 square feet. The development is on a one acre plot, and there are only two units on each floor, giving it an aura of exclusivity.

Stonor Park’s Location: Where The Action Is

Stonor Park at KLCCStonor Park has got the prestigious “Persiaran KLCC” address, and is located on the same row as some embassies and the palaces of Terengganu and Kelantan. Fancy a short stroll? The KLCC park is just about 10 minutes away by foot. Being close to the Golden Triangle has its advantages – Jalan Bukit Bintang (home to Pavilion, Lot 10, Fahrenheit) is just round the corner.

Being in the heart of KLCC also means that it is well connected to the rest of the city. Stonor Park is accessible via Jalan Kia Peng and Jalan Tun Razak, and if you take public transport then the nearest LRT stops are KLCC (inside Suria KLCC) and Ampang. There are also ample RapidKL buses as well as taxis which throng the area (especially the Petronas Twin Towers) for passengers.

What this means is that the development around Stonor Park could be rather dense, and if you are into wide open spaces then this condominium might not be for you after all. But if you are all for “action in the city” then Stonor Park should be in your shortlist for a KLCC condo.

The Walkability Factor

A condominium’s “walkability” is scored by considering its closeness to important amenities and hot spots. Binjai condominiums (or Zone C as defined within KLCCcondominiums.com.my’s specifications) have relatively good walkability scores – for Stonor Park’s case, it’s a respectable 81. To download a free high resolution map containing the Walkability Scores of all KLCC properties, go here.

Check out this interactive map to see what’s close to Stonor Park. (The sidebar on the right contains clickable icons which toggle the hotspots for clarity).
[poiautomap address=”Stonor Park Jalan Stonor Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Stonor Park[/poiautomap]

Stonor Park Pricing For Sub Sale Units

At the time of writing, the subsale price has somewhat tapered after reaching its peak in 2009 (about RM1,000 per sq ft). The asking price remains around this figure although there have been reported transacted price at about RM800 per sq ft.

Pricing chart of Stonor Park units

Prices seem to have gone down a bit in the last two years. Chart courtesy of our friends at GoodPlace.my

Our sister site GoodPlace.my tracks the asking prices for most properties in the Klang Valley; here’s the trended data for Stonor Park for the past few months –

UPDATE: April 2014: A 2,314 sq ft unit was sold for RM2.15 million by Daniel Lim of Zerin Properties; this corresponds to RM929 PSF.

Rental is about RM3 per sq ft, although in lieu of the current (perceived?) over supply of luxury condominiums (in KLCC and elsewhere) there’s lots of room for bargain. No harm to shop around for the best deal… but if you want us to hook you up with our (personal) realtor then get in touch. We’ve seen some listings on the local property portals where 2,000 sq ft units were advertised at RM1.8 million but those don’t look very legit! Too many bait-and-switch cases especially in the luxury apartment markets that I personally would prefer getting help from a broker whom I trust. Use our DealFinder service – it’s easy, free and non-obligatory. 🙂

As asking prices for Stonor Park (or for any KLCC apartment for that matter) are showing some broad fluctuations this year, it’s important for the prospective buyer to know what the true market value so that he or she does not overpay. Use this valuation guide to help you. The KLCC market seems to be rather “opaque” in terms of pricing – get your agent’s help and shop around!

Stonor Park is still one of our favourites - great location, and looks rather classy!

Stonor Park is still one of our favourites – great location, and looks rather classy!

All in all, Stonor Park retains its “classiness” and is definitely holding its own in the face of competition from relatively newer developments such as Binjai, Marc Residences and The Pearl. Due to its location it could be easily overlooked as potential buyers typically focus primarily on the condominiums along Persiaran KLCC itself (the Binjai, Park Seven), and this could mean that there could be good opportunities for investment with good rental yield (relative to KLCC standards!).

[dc]T[/dc]he Stonor Park's claim to fame: won the FIABCI's Best High Rise Residential Building award back in 2007. Occupying a prime spot next to Park Seven and right across the road from The Binjai, Stonor Park remains in the "upper tier" among condominiums and apartments in the KLCC enclave. [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for property listings for Stonor Park. One of the very first luxury KLCC condos in the market, the development was launched in 2003 by Beneton Properties (the developer behind the boutique Hotel Maya - less than 1km away from Stonor Park, Menara Perkeso and Plaza 136) and completed in 2006. Despite its rather "venerable" status, Stonor Park is well maintained and still command a rather premium even when compared with newer condominiums in the KLCC area. [spotlight role="target"][feature_box title="Listings For Stonor Park" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] Stonor Park is part of the "Binjai" cluster of KLCC condominiums which are known for their above average pricing and good location with superior walkability. More on walkability scores later. [caption id="attachment_425" align="aligncenter" width="512"] Stonor Park remains very well maintained, and still commands a premium with its location as its prime advantage[/caption] With Platinum Park being built right across the road, we would expect the "spillover effect" with demand (and prices) to continue to go up; launch prices for Platinum Park are estimated to be around the RM2,000 per sq ft levels. Insider Gossip Caution: By unlocking the content box below, you understand that the information is provided to you has not been independently verified, and you take responsibility for your own actions. Unlock below by liking our Facebook page. [to_like id="1377"][feature_box title="Insider Gossips" title_color="fff" header_color="F5BA47"]Stonor Park is one of the top performers in the rental market as far as KLCC condominiums are concerned, and this despite the fact that the unit sizes are relatively huge from 2,000 sq ft onwards. Occupancy has been healthy at nearly 90% (although this might have changed recently - ask your agent), and it remains one of the top choices of cash wielding expatriates with families. Many of these expatriates also have multi-year tenancies which also somewhat jacked up the prices a little.[/feature_box][/to_like] What's Included In The Box There are two blocks of twenty stories housing some 71 units of luxurious freehold condominiums priced at around RM1,000 per sq ft (which is a double of its launch price at RM500 per sq ft, but that was way back in 2006). To determine if these are fair prices, download our easy valuation guide here. More details on the pricing later in this review. Build-up area ranges from 2,000 to 8,000 square feet. The development is on a one acre plot, and there are only two units on each floor, giving it an aura of exclusivity. Stonor Park's Location: Where The Action Is Stonor Park has got the prestigious "Persiaran KLCC" address, and is located on the same row as some embassies and the palaces of Terengganu and Kelantan. Fancy a…

SherpaScore: Stonor Park

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Very Good

With FIABCI's stamp of approval under its belt, Stonor Park is always at the top of choices when talking abou KLCC's development landscape. It remains classy and a stand out despite emerging competition in the area.

User Rating: 2.88 ( 3 votes)
74

To know what’s a Stonor Park unit’s “true market value” use this handy little valuation guide courtesy of GoodPlace.my –

blue-point

Park Seven

April 3, 2014 — 15 Comments

Park Seven is a luxurious high-end condominium development inside the KLCC area, located just right opposite the KLCC park, and right next door to The Binjai, Quadro Residences and Stonor Park (see here for its map).

Click here
(and scroll down if needed) if you’d like to see a compilation of property listings for Park Seven.

Park Seven is also on the same row as the embassies and some high-end landed properties so there’s a certain aura of prestige surrounding Park Seven. The palaces of Kelantan and Terengganu royalty families are on the same lane, and it’s a stone’s throw away from the embassies of Belgium, Germany, Vietnam and a few others.

Situated in the cluster of “Binjai” condominiums which are upmarket even by KLCC standards, Park Seven has been a runaway success ever since its high profile launch by SDB back in 2007. We shall find out if it lives up to the hype…

Park Seven, KLCC

Old school or rustic charm? You decide

Selling Points

Park Seven boasts of being earthquake resistant, which is one of the few resident buildings that earn this distinction. Also, its “stripped-down-to-basics” look might appeal to some, and with a rather “polished” facade (built from high end timber and granite giving it a nice combination of colors in grey and charcoal) it does look somewhat distinguished from the rest of the condominiums in the KLCC enclave.

Park Seven, KLCCThe upper floor units have got a rather awesome 270-degree view of the Petronas Twin Towers which is a major selling point which resonates well with would-be buyers, investors and tenants.

Also, it has got private lift lobbies (similar to The Pearl), as well as dedicated rooms for pilates and yoga. There are at least two parking spaces per unit (with some bigger units commanding four parking lots). For these reasons, it’s rather popular with expats – read this for a personal account. And for some reason, it’s also a makeshift tour buses carrying loads of tourists into the KLCC area. Ask your agent during your viewing if you’re concerned about this…

Park Seven (a.k.a Park 7) was built by SDB (Selangor Dredging Berhad) – notable for a wide range of constructions such as 20trees at Taman Melawati, Aman Suria at Puchong and Five Stones at Petaling Jaya SS2.

The Configuration

Unit sizes stretches from 2,257 sq ft (2+1 rooms) to a humongous unit of more than 7,000 sq ft (6+1 rooms). The build-up areas are bigger than most condominiums in the same area, and comparable to the configuration typically found at, say Avare. The 105 units of luxurious apartments are housed in seven blocks of 20 stories each. In total, there are fourteen (count ’em) layout configurations – you’re bound to find one that pleases you. 🙂

Interested in a Park Seven unit but can’t be bothered with the fake-ads-infested property classified sites? Use our free DealFinder service – click here.

The facilities are rather bog standard – lap and heated swimming pools, gym, landscaped points, children’s playground, Pilates rooms.

Walkability Scores

The GoodPlace Walkability Score (GWS) is a measure of how “walkable” a property is. This factor is especially important for city condominiums where closeness to amenities is a major selling point. The GWS for Park Seven is 81 (on a scale from 0 to 100). Download the KLCC Walkability Map here for free (click on this link).

Also, check out our interactive map below to see where the closest amenities to the Park Seven are.
[poiautomap address=”3.154314,101.717427″ zoom=”15″]Park Seven[/poiautomap]

Park Seven Prices: Show Me The Money!

Park Seven was launched at RM640 per sq ft in 2008, and the price quickly rose to more than RM1,000 per sq ft in 2009. Asking prices have hit as high as RM1,200 in late 2011, although it might have tapered lately (at the time of writing) with the cooling down of the luxury property market in Malaysia. The market could be kind of “fluid” currently, so for the best price, get in touch with us (click here) and we’ll hook you up with some good deals. Rentals are around RM4 per sq ft at the time of writing.

Park Seven, KLCC

Park Seven is pretty awesome all around – it’s a pretty hot choice amongst expats especially

UPDATE (June 2013): Asking price have soared up to RM1,400 PSF with entry level units selling at RM2.8 million. To check if these Park 7 units are “fair” prices, remember to use our latest valuation guide (click here).

UPDATE (April 2014): A unit with built-up of 2,291 sq ft with 4 bedrooms was sold for RM2.75 million, corresponding to RM1,200 PSF. The sale was concluded by Terence Yap of Zerin Properties.

Transportation Around Park Seven

Park Seven occupies some of the best spots in the KLCC enclave, being on Persiaran KLCC itself. However, this could be problematic to some if they need to travel out of the KLCC area. The main arteries of Jalan Tun Razak, Jalan Sultan Ismail and Jalan Bukit Bintang are notorious for heavy traffic during peak hours. There are not many (international) schools in the KLCC enclave, but there are buses which ferries students out of the area to the schools so there’s one less thing to worry about.

Park Seven under the evening sun

What Else You Need To Know?

If you’re looking for a “bungalow in the sky” right smack in the middle of Kuala Lumpur then Park Seven should feature among your top choices. Which arguably the best view of the Petronas Twin Towers and the luscious green of the KLCC Park this condominium could well be a no-brainer investment for some. It also has the distinction of having “Persiaran KLCC” as its address so that adds some premium to its asking price which is already firmly entrenched in the upper tier…

[dc]P[/dc]ark Seven is a luxurious high-end condominium development inside the KLCC area, located just right opposite the KLCC park, and right next door to The Binjai, Quadro Residences and Stonor Park (see here for its map). [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you'd like to see a compilation of property listings for Park Seven. Park Seven is also on the same row as the embassies and some high-end landed properties so there's a certain aura of prestige surrounding Park Seven. The palaces of Kelantan and Terengganu royalty families are on the same lane, and it's a stone's throw away from the embassies of Belgium, Germany, Vietnam and a few others. [spotlight role="target"][feature_box title="Listings For Park Seven" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] Situated in the cluster of "Binjai" condominiums which are upmarket even by KLCC standards, Park Seven has been a runaway success ever since its high profile launch by SDB back in 2007. We shall find out if it lives up to the hype... [caption id="attachment_464" align="aligncenter" width="512"] Old school or rustic charm? You decide[/caption] Selling Points Park Seven boasts of being earthquake resistant, which is one of the few resident buildings that earn this distinction. Also, its "stripped-down-to-basics" look might appeal to some, and with a rather "polished" facade (built from high end timber and granite giving it a nice combination of colors in grey and charcoal) it does look somewhat distinguished from the rest of the condominiums in the KLCC enclave. The upper floor units have got a rather awesome 270-degree view of the Petronas Twin Towers which is a major selling point which resonates well with would-be buyers, investors and tenants. Also, it has got private lift lobbies (similar to The Pearl), as well as dedicated rooms for pilates and yoga. There are at least two parking spaces per unit (with some bigger units commanding four parking lots). For these reasons, it's rather popular with expats - read this for a personal account. And for some reason, it's also a makeshift tour buses carrying loads of tourists into the KLCC area. Ask your agent during your viewing if you're concerned about this... Park Seven (a.k.a Park 7) was built by SDB (Selangor Dredging Berhad) - notable for a wide range of constructions such as 20trees at Taman Melawati, Aman Suria at Puchong and Five Stones at Petaling Jaya SS2. The Configuration Unit sizes stretches from 2,257 sq ft (2+1 rooms) to a humongous unit of more than 7,000 sq ft (6+1 rooms). The build-up areas are bigger than most condominiums in the same area, and comparable to the configuration typically found at, say Avare. The 105 units of luxurious apartments are housed in seven blocks of 20 stories each. In total, there are fourteen (count 'em) layout configurations - you're bound to find one that pleases you. 🙂 [blue_message]Interested in a Park Seven unit but can't be bothered with the fake-ads-infested property classified sites? Use our free DealFinder service - click here. [/blue_message] The facilities are rather…

SherpaScore: Park Seven

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Very Good

Superbly located with a great view, Park Seven is SDB's crown jewel. To top it all up, it also boasts a nice pool overlooking the majestic Twin Towers.

User Rating: 0.35 ( 6 votes)
71

Price PSF wise it’s etching closer to the Binjai’s levels, which is not surprising given the locality and some degrees of similarity in terms of configuration and target market. There were unverified reports that transacted prices went up to as high as RM1,800 PSF post launch, but it doesn’t seem to be likely to reach this level in the short term. Perhaps this is a good opportunity to buy? Find out for yourself using this guide here –

klcc-hartanah

The Mews

March 27, 2014 — 7 Comments

Downtown Kuala Lumpur is one of the best hotspots in the country in terms of exquisite property developments where modern city living thrives. Some say that the city centre is already bursting at its seams, and with the property bull run coming to an end (with the government taking multiple “cooling” measures to tame the escalating property prices) we are indeed seeing some slowdown in terms of the take up rates of new city condominiums.

But don’t get me wrong – KL city condominiums are still widely sought after – both by locals and internationals. Aspiring to bring a breath of fresh air to the busting metropolitan centre is The Mews, a brand new condominium development by E&O (the venerable upmarket property builders with an enviable portfolio – Dua Residency, St Mary Residences, Quayside, Straits Quay in Penang).

If you’re interested in a choice of The Mews units for sale, then get in touch with us using this form. We will do the research and vet through the listings for you. Click here.

the-mews-logoThe marketing dude that we met at the launch enthused, “Surrounded with vines and trellises, the property aspires to bring natural beauty and understated simplicity to the heart of Kuala Lumpur.” Sounded nice, but we’d rather look at the cold hard facts to see if it’s worthy of all the hype. 🙂

The take-up rate is reportedly healthy (although we do not have the exact figures); apparently some 10% of the units have been taken up by the Japanese.

For the curious, “The Mews” is a British term for a row of apartments which are converted from stables. What’s the relevance to a condominium in the middle of the KL city, you ask? Good question… we haven’t got a clue.

The Mews Pricing & Configuration Details

The Mews sits on about 1.3 acre of freehold land along Jalan Yap Kwan Seng where the best that the city can offer is a doorstep away. Jalan Yap Kwan Seng is a short stretch of road (about 1km), populated mostly by old-ish bungalows which have since been converted into commercial establishments (restaurants, offices, boutiques, furniture shops). Other residential developments on Jalan Yap Kwan Seng are D’Mayang and Taragon Puteri at the further end connecting to Jalan Tun Razak.

Housed within the two 38-storey towers of The Mews are 256 serviced apartment units with built-up size ranging from 922 to 2,417 sq.ft. Units vary from 1-bedroom options to penthouses which offer just enough choices for singles, professionals, couples and families.The Mews is scheduled to be completed in 2017.

The Mews, Jalan Yap Kwan Seng

Source: the-mews.com

Prices for the units start from a “mid-of-the-KLCC-range” tag of RM1.6million up to RM4.7 million. A hefty price indeed and may be too expensive for many but then again, you’re really paying for the location – KLCC being the cream of the crop of property developments. To check if The Mews offers a fair market price, we have a free valuation guide for you which you can download now by clicking here.

Facilities

Compensating for a price that will have you thinking twice is a set of impressive and private facilities packed within the development. Residents are treated with five-star hospitality services and special features with emphasis on providing the best of modern conveniences. Completing your signature and stylish city living experience in The Mews are following:

  • Water sanctuary
  • Gymnasium
  • Pools (salt water lap pool, hydro spa pool and children’s pool)
  • Bio fish pond
  • Squash courts
  • Playground
  • Rooftop terraces
  • Gardens and barbeque area

Secure living is also on top of the development’s list. The Mews is equipped with a multi-tiered security system which include 24-hour surveillance together with other services such as shuttle and concierge services.

It’s All About The Location, Baby

Despite the hustle and bustle of the city, The Mews is a development designed to accommodate discerning investors who wish a tranquil and relaxed home life – despite being in the centre of the capital. The Yap Kwan Seng area seems to be quietly “tucked” in a corner while being central – a good spot for a city condominium.

Being somewhat sheltered also means that many amenities are not reachable by foot. Our sister site GoodPlace.my has developed a methodology to score the “walkability” of a city property; The Mews’ score is 77, which is comparable to other condominiums in the Yap Kwan Seng zone (Taragon Puteri scores 75, for example).

For more information on how to interpret the Walkability Score, and to get a free high resolution KLCC Walkability Map in PDF format, click here.

Completing the promise of a wholesome lifestyle is the array of the best amenities in the enclave. A short walk from The Mews will bring you to a world of premier shopping, fine dining and topnotch entertainment not to mention the plethora of pubs, bars and exclusive boutiques littered throughout KLCC. Experience the best retail therapy at Avenue K (home to the newly refurbished K Residence) and Suria KLCC, or head over to Bintang Walk or Ampang Park for more exciting shopping escapades.

KLCC at night

Located inside the KLCC enclave, The Mews is near to the hotspots that matter

Public amenities are also in abundance in the area. From banks to business centres, reputable educational institutions and a host of healthcare centres including the Tawakal Medical Centre, Pantai Indah Hospital and the Twin Towers Medical Centre to name a few. As for recreation, the city offers a world of possibilities from leisure time at the KLCC Park or golfing at Royal Selangor Golf Club and of course a great time at world famous Petronas Twin Towers. Those who love arts or theatre can also visit the Philharmonic Theatre and the Petronas Art Gallery.

Bearing the reputation as one of Malaysia’s hotspots, a network of extensive connectivity serves the rest of KLCC including residents at The Mews. Major roads and highways link the enclave to nearby centres via Jalan Tun Razak, Jalan Ampang, Ampang-KL highway, SMART highway and Mahameru highway. Also within the vicinity are two LRT stations (Ampang Park and KLCC) as well as business and city taxi that provide easy access in and out of the development.

The map below shows where the amenities which are closest to The Mews. Click on the buttons on the right to toggle the amenities as required.

[poiautomap address=”3.162884,101.713954″ zoom=”15″]The Mews, KLCC[/poiautomap]

What We Think

Eastern & Oriental Berhad (E&O) is building The Mews in partnership with Japan’s largest developer, Mitsui Fudosan Residential. We here at KLCCcondominiums.com.my are fans of E&O – it has a well deserved “top of mind” reputation as one of the most prominent upscale condominium developers in Malaysia, and for good reason. With a string of success stories behind the brand (Dua Residency, Idamansara, Seventy Damansara, Seri Tanjung Pinang), you can almost be sure that they won’t risk tarnishing their by screwing this up… 😉

Eastern & Oriental Berhad logo

E&O has an enviable portfolio of luxury projects which include St Mary Residences and Dua Residency

We like The Mews’ location on Yap Kwan Seng – in fact we like it better than the Hampshire enclave where blocks of condominiums are side by side at close-ish distances. Yap Kwan Seng still boasts of clear, unblocked views of the city line, although this may set to change with more skyscrapers shooting up in the area. Currently residential choices here are limited to D’Mayang and Taragon – both are rather old which probably do not hold much appeal to The Mews’ target audience (who would probably go for branded residences such as RuMa, St Mary Residences or St Regis at Sentral as alternatives).

On the minus side, the design is rather ho-hum by E&O standards; and as observed by our friends at the SG Property Talk blog, the V-shape seems to be a little, well, out of shape.

[dc]D[/dc]owntown Kuala Lumpur is one of the best hotspots in the country in terms of exquisite property developments where modern city living thrives. Some say that the city centre is already bursting at its seams, and with the property bull run coming to an end (with the government taking multiple "cooling" measures to tame the escalating property prices) we are indeed seeing some slowdown in terms of the take up rates of new city condominiums. But don't get me wrong - KL city condominiums are still widely sought after - both by locals and internationals. Aspiring to bring a breath of fresh air to the busting metropolitan centre is The Mews, a brand new condominium development by E&O (the venerable upmarket property builders with an enviable portfolio - Dua Residency, St Mary Residences, Quayside, Straits Quay in Penang). [yellow_message]If you're interested in a choice of The Mews units for sale, then get in touch with us using this form. We will do the research and vet through the listings for you. Click here.[/yellow_message] The marketing dude that we met at the launch enthused, "Surrounded with vines and trellises, the property aspires to bring natural beauty and understated simplicity to the heart of Kuala Lumpur." Sounded nice, but we'd rather look at the cold hard facts to see if it's worthy of all the hype. 🙂 The take-up rate is reportedly healthy (although we do not have the exact figures); apparently some 10% of the units have been taken up by the Japanese. For the curious, "The Mews" is a British term for a row of apartments which are converted from stables. What's the relevance to a condominium in the middle of the KL city, you ask? Good question... we haven't got a clue. The Mews Pricing & Configuration Details The Mews sits on about 1.3 acre of freehold land along Jalan Yap Kwan Seng where the best that the city can offer is a doorstep away. Jalan Yap Kwan Seng is a short stretch of road (about 1km), populated mostly by old-ish bungalows which have since been converted into commercial establishments (restaurants, offices, boutiques, furniture shops). Other residential developments on Jalan Yap Kwan Seng are D'Mayang and Taragon Puteri at the further end connecting to Jalan Tun Razak. Housed within the two 38-storey towers of The Mews are 256 serviced apartment units with built-up size ranging from 922 to 2,417 sq.ft. Units vary from 1-bedroom options to penthouses which offer just enough choices for singles, professionals, couples and families.The Mews is scheduled to be completed in 2017. [caption id="attachment_1860" align="aligncenter" width="574"] Source: the-mews.com[/caption] Prices for the units start from a "mid-of-the-KLCC-range" tag of RM1.6million up to RM4.7 million. A hefty price indeed and may be too expensive for many but then again, you're really paying for the location - KLCC being the cream of the crop of property developments. To check if The Mews offers a fair market price, we have a free valuation guide for you which you can…

SherpaScore: The Mews

Location
Design
Amenities
Yield
Developer Reputation
Value For Money

Good

Great location, but the design's ho-hum and amenities rather off-the-mill. We do like E&O because they (almost) always deliver on the goods. 🙂

User Rating: 4.24 ( 2 votes)
71

At launch price of RM1,500 PSF, there may be bargains to be had especially in the lieu of even higher end launches in the KLCC enclave (with places such as Four Seasons already batting records at RM2,000+ PSF). The Mews may not be as “branded” (and this may have affected its pricing, kicking it down a notch to sub RM2,000 PSF levels), but its projected 6-7% gross yield may be a strong selling factor to investors – especially those who are not ready to plonk down RM2,500 PSF for Four Seasons (note that the national gross yield average is a little more than 6%). To check if these are fair market prices (and especially in lieu of the projected market slowdown in 2014), use our property valuation guide which you can download below.

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Setia Sky Residences

February 17, 2014 — 7 Comments

With its staggering size and majestic blocks, some say that the Setia Sky Residences is definitely a cut above the typical KL city condominium. Its building’s exterior and design is stylish and unashamedly modern, and it’s impossible not to marvel at its beauty, especially at night, when its presence lights up the Kuala Lumpur city skyline. Setia Sky Residences is one of my favorite condominium developments near the KLCC enclave – read on to find out why.

Click here
(and scroll down if needed) if you are looking for property listings for Setia Sky Residences.

SP Setia is the property developer of this luxurious residential condominium. One of the premier real estate developers in Malaysia, SP Setia is (at the time of the publication of this review) the biggest developer in Malaysia in terms of market cap and (read its profile here).

Source: setiaskyresidences.com.my

SP Setia’s rich and varied portfolio includes projects like Setia Eco Park, Setiawalk (in Puchong), Setia V Residences (Penang), Setia Alam and Setia Tropika in Johor Bharu. In 2013, it has also launched the high profile Battersea project in London (click here for an excellent analysis by Bloomberg). It also has projects in Singapore (Eco Sanctuary) and Vietnam (EcoLakes MyPhuoc). SP Setia has a storied history which should appeal to anyone even with a slight interest in Malaysia property.

For some reason, some tend to abbreviate the name of the project down to “Setia Residences” for brevity (although it could be confused with its sister development Setia Vista Residence in Penang).

Setia Sky Residence Pricing

Launch prices for the Setia Sky Residence units started from RM680 to RM1,100 per square feet – note that this is comparable to the sub-sale prices for a large number of condominiums in the KLCC enclave (Park View, for example) or myHabitat (reviewed here) on Jalan Tun Razak. While we note that most notable KLCC condominiums have appreciated above RM1,000 median PSF, the series of Tun Razak condominiums are still significantly below that level (The Orion at RM550 PSF, Vista Damai at RM600 PSF), although myHabitat is somewhat of an anomaly.

To check the fair price for condominiums on Jalan Tun Razak (or any property in particular), use this real estate valuation guide which you can download for free courtesy of GoodPlace.my.

The chart below shows the asking prices for the past couple of months compiled from various public sources (and crunched using our proprietary formula):-

Insider Gossips

We regularly receive and collate information about specific projects from people in the know – agents, negotiators, buyers, sellers, developers, contractors and the like. Read the “insider gossips” for Setia Sky Residences as submitted to KLCCcondominiums.my below. WARNING: the information below has NOT been validated, and therefore should not be used as the basis to buy or to sell property. Thank you for understanding.

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Locational Information

Setia Sky Residences

Setia Sky Residences as seen along Jalan Raja Muda Abdul Aziz

Setia Sky Residences is NOT inside the KLCC enclave proper; in fact it is off Jalan Tun Razak just right behind the Orion (which we review here). This could be an advantage or a disadvantage depending on the buyer’s needs.

On the plus side, being on the “happening” stretch of Jalan Tun Razak would provide a lot of activities for Setia Sky Residences’ residents. For one, the National Library is just nearby.

The National Art Gallery and Istana Budaya would surely catch the eyes of passionate art aficionados—these two institutions are only within walking distance. Golf enthusiasts would get their fill at the nearby Royal Selangor Golf Club, or even play polo at the Royal Selangor Polo Club. Taman Tasik Titiwangsa and Titiwangsa Sports Complex are both establishments for you to go to if you want to release your competitive side by engaging in sports and other activities.

Schools and hospitals also enhanced the value of the property. Nearby schools include Alliance Francaise, Sayfol, SMK Puteri Titiwangsa. As for hospitals, National Heart Institute is just a few metres away. Hospital PUSRAWI and General Hospital complete the list of nearby hospitals surrounding the condominium. We do note that there are buyers who have got reservations (“pantang“) with properties which are hear hospitals. 😉

The Walkability Factor

Our sister site GoodPlace.my has developed a methodology to measure a property’s “walkability” i.e. its distance from nearby amenities on a scale from 0 to 100, with 100 being the maximum score. Setia Sky Residences’ GoodPlace Walkability Factor (GWS) is 72, which is predictably high for a city condominium but relatively lower when compared to other condominiums situated inside the KLCC enclave or on Jalan Bukit Bintang (Pavilion Residences, for example, scores 99).

To download a free high resolution map with Walkability Scores of all major KLCC properties, click here.

The interactive map below can be used to check where the closest amenities to the Setia Sky Residences are.
[poiautomap address=”Setia Sky Residences Jalan Tun Razak Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Setia Sky Residences[/poiautomap]

Unit Layout & Structure

The total amount of residential apartments is at 811 — with units measuring from 1,044 to 1,679 square feet. The property is built on a massive ~six acres of premium freehold land in the heart of the city. Setia Sky Residences are of moderately high density.

Residents are given the choice to choose a unit that would provide a scenic KLCC view or a Taman Tasik Titiwangsa view. The building has 40 storeys in total, with each floor housing dix units. As of this writing, the condominium is already on its second phase of development — completion of phase two is estimated to be completed in 2014.

Lavish Luxury

The condominium boasts of luxury exclusive only to its residents. It comes with a lot of facilities and amenities enough to keep one occupied 24/7. One of the condominium’s highlights is its Sky Club. Its staggering area of 20,000 square feet is graced with a spectacular Kuala Lumpur view. It houses a swimming pool and hot tubs, a yoga zone, a gymnasium, and a tea pavilion. The Sky Club also features a sports club, cigar room, and a pool hall.

Another definition of luxury would be the condominium’s Sky Deck, which features a 50-metre lap pool, a Jacuzzi, and a sun deck. It also gives off a relaxing setting through its spa gardens. Active children will definitely get their fill with its play pool and playground.

Setia Sky Residences under construction

One of the towers is under construction when this picture was taken (early 2014)

Finally, the Sky Villas is the perfect place for parties and events — everyone is expected to turn on their socialising skills and just enjoy the KLCC view from its plush seats.

Every unit is protected with a 24-hour security system, equipped with CCTV cameras. Seven private lift lobbies also serve each floor to ensure convenience for its residents.

Our Analysis

Condominiums which are built along Jalan Tun Razak are forever associated with its perennial traffic jam problem – and Setia Sky Residences is no exception. For this reason, developments located here tend lag behind the condominiums located in the heart of the KLCC enclave in terms of capital appreciation, but Setia Sky Residences (and myHabitat) seem to be on track to break this norm.

[dc]W[/dc]ith its staggering size and majestic blocks, some say that the Setia Sky Residences is definitely a cut above the typical KL city condominium. Its building’s exterior and design is stylish and unashamedly modern, and it’s impossible not to marvel at its beauty, especially at night, when its presence lights up the Kuala Lumpur city skyline. Setia Sky Residences is one of my favorite condominium developments near the KLCC enclave - read on to find out why. [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for property listings for Setia Sky Residences. [spotlight role="target"][feature_box title="Listings For Setia Sky Residences" title_color="fff" header_color="F5BA47"] [listing][/listing] [/feature_box][/spotlight] SP Setia is the property developer of this luxurious residential condominium. One of the premier real estate developers in Malaysia, SP Setia is (at the time of the publication of this review) the biggest developer in Malaysia in terms of market cap and (read its profile here). SP Setia's rich and varied portfolio includes projects like Setia Eco Park, Setiawalk (in Puchong), Setia V Residences (Penang), Setia Alam and Setia Tropika in Johor Bharu. In 2013, it has also launched the high profile Battersea project in London (click here for an excellent analysis by Bloomberg). It also has projects in Singapore (Eco Sanctuary) and Vietnam (EcoLakes MyPhuoc). SP Setia has a storied history which should appeal to anyone even with a slight interest in Malaysia property. For some reason, some tend to abbreviate the name of the project down to "Setia Residences" for brevity (although it could be confused with its sister development Setia Vista Residence in Penang). Setia Sky Residence Pricing [dc]L[/dc]aunch prices for the Setia Sky Residence units started from RM680 to RM1,100 per square feet - note that this is comparable to the sub-sale prices for a large number of condominiums in the KLCC enclave (Park View, for example) or myHabitat (reviewed here) on Jalan Tun Razak. While we note that most notable KLCC condominiums have appreciated above RM1,000 median PSF, the series of Tun Razak condominiums are still significantly below that level (The Orion at RM550 PSF, Vista Damai at RM600 PSF), although myHabitat is somewhat of an anomaly. To check the fair price for condominiums on Jalan Tun Razak (or any property in particular), use this real estate valuation guide which you can download for free courtesy of GoodPlace.my. The chart below shows the asking prices for the past couple of months compiled from various public sources (and crunched using our proprietary formula):- [chart csv='http://klcccondominiums.com.my/data/setiaskyresidence.csv' type='bar' category='Month' value='PSF' format='string, float' color='orange' title='Setia Sky Residences Asking Prices (PSF in MYR) - mouseover for details' animate='fast'][/chart] Insider Gossips We regularly receive and collate information about specific projects from people in the know - agents, negotiators, buyers, sellers, developers, contractors and the like. Read the "insider gossips" for Setia Sky Residences as submitted to KLCCcondominiums.my below. WARNING: the information below has NOT been validated, and therefore should not be used as the basis to buy or to sell property. Thank you…

SherpaScore: Setia Sky Residences

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Very Good

Another SP Setia masterpiece and surely one of KL's prime jewels. Location may be a blessing in disguise. Prices (at the time of the review) are competitive and below the median among KLCC properties. High density factor may be a negative.

User Rating: 1.79 ( 22 votes)
77

Developer reputation is becoming a strong purchase driver among Malaysia property buyers, and given the stellar performance of SP Setia we will not be surprised if Setia Sky Residences perform rather well in the sub-sale market. While SP Setia seems to have built its reputation around building middle-of-the-range townships, Setia Sky Residences do not seem to be lacking in its upper market trimmings.

There are a couple of perceived negatives (for example, the high density factor may be a turnoff to some), but the positives greatly outweigh the negatives and we do see a stellar future ahead for this project. However, ass prices continue to etch up, we do see some cooling off in terms of demand, and its neighbouring condominium the Orion may get the spillover as it is priced even more competitively compared to Setia Sky Residences.

As with many high density city condominiums, you should be able to get lots of listings from online property portals, but this may be problematic to those who are short in time. We can help do the research for you to sort out the good listings from the bad; get in touch with us using this form. The service is free and not obligatory.

All in all, this condominium might be a good choice for you if you want to live in the city but you’re not particular about being INSIDE the KLCC enclave or on the Embassy Row. However, prices of units at Setia Sky Residences are indeed getting close to that of KLCC levels, and before you decide, use this guide below to help you come up with the ballpark figures of “fair” prices. Enter your details below and the downloadable guide (about 20 pages in PDF format) will be emailed to you.

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MyHabitat

February 16, 2014 — 6 Comments

First of all, let me state this: I’m not a fan of the ‘MyHabitat’ moniker. However, the name works simply because it’s somewhat memorable, and it stands out from the usual cookie cutter approach when it comes to naming luxury condominiums in the KLCC enclave. Humor me for a second. Which one of these names is completely made up?

  • Hampshire Residence
  • Hampshire Place
  • SOHO Suites @ Tun Razak
  • Cendana @ Sultan Ismail
  • Binjai Residence
  • Park View
  • Park Seven
  • Stonor Park

Answer at the end of this review. Now back to your regular program….

Click here
for property listings for MyHabitat culled from the leading property classifieds websites.

A few can rival myHabitat’s interesting architecture when seen from afar; despite its rather iffy name it truly stands out as one of KLCC’s best modern condominiums, in our humble opinion! Standing on freehold land area and developed by AP Land, the condominium is tucked in Jalan Aman (off Jalan Tun Razak – which means that it’s not exactly within the KLCC enclave, but still…). Its building’s 38 storeys house a total of 304 serviced apartments.

myHabitat

AP Land is perhaps best known for its Bandar Tasik Puteri (not to be confused with Bandar Puteri, Puchong) flagship development in Rawang as well as the Penang Island Bay Resort in, well, Penang. The developer is also known for its Marina One development in Sydney, Australia.

Structure, Layout, and Built-Up Areas

MyHabitat is composed of two blocks, imaginatively named myHabitat1 and myHabitat2 respectively. MyHabitat1 has 168 units in total, while myHabitat2 has 215 units. Every unit comes with a view of the KLCC skyline or the Titiwangsa Lake Gardens1.

MyHabitat from Vista Damai

myHabitat as seen from Vista Damai’s courtyard

Built-up areas for units on myHabitat1 start at 883 to 4,983 square feet, and 603 to 1,441 square feet for myHabitat2. myHabitat2 also houses the condominium’s penthouse units. Residents have access to one lift that only serves two floors. Residents on premium floors have access to a private lift lobby. More information can be found at its official website (click here – comes up in a new window), but expect mind-blowing (not in a good way) my-eyes-are-burning flash animation and marketing-speak as you normally would.

Residents are able to enjoy the condominium’s top-class facilities and amenities. One can take a quick and relaxing swim in its 45-metre lap and plunge pool, and go to the poolside café for a relaxing after-swim drink. There are also children’s playgrounds and pools for active toddlers. Residents also have access to a covered car park, as well as a sun and pool deck, a multi-purpose hall, a changing room, a squash court, landscaped gardens and ponds, and a gymnasium. Laundry services are also available. In terms of security, the condominium is pretty beefed up. The condominium’s security system comes with 24-hour CCTV surveillance complete with audio/video intercom system.

Walkability Information

One of the advantages of living in a city condominium is the nearness of amenities which are often reachable by foot. Our sister site GoodPlace.my has debuted a walkability measure dubbed the GoodPlace Walkability Score (GWS) which is a measure of, well, how “walkable” a property is from important amenities such as public transport points, retail outlets, restaurants, police stations, etc.

MyHabitat’s GoodPlace Walkability Score is 74 (on a scale from 0 to 100, with 100 being the best). To find out what this score means, and to download a free high resolution KLCC condo map with walkability scores, click here.

The nearby KLCC enclave is a bustling location, filled with entertainment spots, malls, and fancy restaurants. Living at myHabitat definitely opens up residents to the possibilities of being surrounded with a lot of activities and things to do… although it is not strictly inside the KLCC enclave – it’s 2.2km away according to our trusty Google algo.

You can also use this clickable map below to check where the closest amenities to the MyHabitat are.
[poiautomap address=”Myhabitat Jalan Tun Razak Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]MyHabitat[/poiautomap]

MyHabitat Prices + Market Analysis

Living in KLCC guarantees big price tags — and this is exactly what myHabitat is all about. Launch prices for the condominium during its opening on February 2010 were already exceeding the benchmark tag of RM1,000 per square feet. However, there was a slight drop in (asking) prices come the third quarter of 2011, when unit prices were floating around the RM900 per square feet level. The prices played around the this mark until December last year. See this chart below for trended asking prices for MyHabitat (collated from various publicly available sources):-

Starting from the beginning of this year, its prices climbed again, and its current asking prices for units reaching RM1,100 per square feet on average. We would expect this to continue to rise – as we checked the local property portals the asking prices have even breached the RM1,200 per square feet levels.

If you need help in estimating the fair value of myHabitat then use this handy little guide which you can download here. For comparison purposes, the neighboring Vista Damai is at approximately HALF the price of myHabitat. Go figure.

What We Think

MyHabitat seems to be one of the better condominiums which line up this side of Jalan Tun Razak (Vista Damai, Orion, Setia Sky Residences, Three28 Tun Razak), but it is seen to be overpriced by some (price point reaching RM1,200 PSF as we have observed in some property listings. However, we have also seen units being auctioned at RM700 PSF base price, and there are indications that the prices will soon “correct” in the coming months. Guess we shall see what happens…

There is already an oversupply situation in this small cluster of “Tun Razak” condominiums, and we expect the situation to worsen with the upcoming KL Trillion a stone’s throw away. Already we are seeing a good number of MyHabitat units hitting the market; this means that the buyer is indeed spoiled for choice. However, for this reason also, hunting for a good MyHabitat unit can be a chore – unless dealing with multiple agents is your cup of tea. 🙂 Alternatively, you can use our DealMatcher service where we will research the potential units for you depending on your requirements. For more information, click here.

Its location off Jalan Tun Razak is good although it’s still a distance away from the KLCC enclave. It is of walking distance to the Intermark mall and the Suria is also trekkable by foot. Since it is surrounded by landed properties and short buildings the city views are (still) awesome.

myHabitat1 and myHabitat2

MyHabitat may look like a monstrous block of steel from Jalan Aman, but it’s rather nice inside. Really.

Again, the prices seem to be rather inflated at this point, and personally I’d take a wait-and-see stance on this property. Also, the development of KL Trillion next door would probably affect myHabitat’s appeal in the secondary market although the former is decidedly marketed at one level above the latter it seems. Additionally, the availability of Vista Damai at much lower prices (half?) means that the oversupply situation in this area will worsen.

[dc]F[/dc]irst of all, let me state this: I'm not a fan of the 'MyHabitat' moniker. However, the name works simply because it's somewhat memorable, and it stands out from the usual cookie cutter approach when it comes to naming luxury condominiums in the KLCC enclave. Humor me for a second. Which one of these names is completely made up? Hampshire Residence Hampshire Place SOHO Suites @ Tun Razak Cendana @ Sultan Ismail Binjai Residence Park View Park Seven Stonor Park Answer at the end of this review. Now back to your regular program.... [spotlight role="switch"]Click here[/spotlight] for property listings for MyHabitat culled from the leading property classifieds websites. [spotlight role="target"][feature_box title="Listings For MyHabitat" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] A few can rival myHabitat’s interesting architecture when seen from afar; despite its rather iffy name it truly stands out as one of KLCC’s best modern condominiums, in our humble opinion! Standing on freehold land area and developed by AP Land, the condominium is tucked in Jalan Aman (off Jalan Tun Razak - which means that it's not exactly within the KLCC enclave, but still...). Its building’s 38 storeys house a total of 304 serviced apartments. AP Land is perhaps best known for its Bandar Tasik Puteri (not to be confused with Bandar Puteri, Puchong) flagship development in Rawang as well as the Penang Island Bay Resort in, well, Penang. The developer is also known for its Marina One development in Sydney, Australia. Structure, Layout, and Built-Up Areas MyHabitat is composed of two blocks, imaginatively named myHabitat1 and myHabitat2 respectively. MyHabitat1 has 168 units in total, while myHabitat2 has 215 units. Every unit comes with a view of the KLCC skyline or the Titiwangsa Lake Gardens[1. As with any other city condominiums, awesome views are often blocked by newer developments. Beware if you see empty tracts of land in the surroundings!]. [caption id="attachment_1654" align="alignright" width="357"] myHabitat as seen from Vista Damai's courtyard[/caption] Built-up areas for units on myHabitat1 start at 883 to 4,983 square feet, and 603 to 1,441 square feet for myHabitat2. myHabitat2 also houses the condominium’s penthouse units. Residents have access to one lift that only serves two floors. Residents on premium floors have access to a private lift lobby. More information can be found at its official website (click here - comes up in a new window), but expect mind-blowing (not in a good way) my-eyes-are-burning flash animation and marketing-speak as you normally would. Residents are able to enjoy the condominium’s top-class facilities and amenities. One can take a quick and relaxing swim in its 45-metre lap and plunge pool, and go to the poolside café for a relaxing after-swim drink. There are also children’s playgrounds and pools for active toddlers. Residents also have access to a covered car park, as well as a sun and pool deck, a multi-purpose hall, a changing room, a squash court, landscaped gardens and ponds, and a gymnasium. Laundry services are also available. In terms of security, the condominium is pretty beefed up. The condominium’s security…

SherpaScore: MyHabitat

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Fair

A stand out high rise condominium off Jalan Tun Razak. Though the name sounds rather iffy, there's more to the project when you look closer.

User Rating: 3.87 ( 4 votes)
63

Now back to the earlier pop quiz, the non-existent condominium was “SOHO Suites @ Tun Razak”. But I won’t be surprised if one gets built given the empty land surrounding Taragon Puteri YKS on Jalan Yap Kwan Seng.

  1. As with any other city condominiums, awesome views are often blocked by newer developments. Beware if you see empty tracts of land in the surroundings!

The Pearl KLCC

February 16, 2014 — Leave a comment

Previously with a less-than-memorable moniker of Stonor 116, The Pearl KLCC is a luxurious condominium developed by Malton (who is behind many major developments in Kuala Lumpur and the Klang Valley – namely V Square in Petaling Jaya, Amaya Maluri and Mutiara Indah in Puchong).

Click here
(and scroll down if needed) if you are looking for The Pearl’s listings (for sale and for rent).

One of the prettier ones amongst KLCC condos with a less imposing facade than its peers, The Pearl is one of my personal favorites! Keep reading to find out why. 🙂

While we have seen an uptick in the number of units available for The Pearl in the recent months, it does seem that the asking prices were flat-tish at a level just above the RM1,000 PSF median. We will delve into this matter further in this review.

Entrance to The Pearl

Rather pleasant and less imposing facade compared to its neighbors, The Pearl could come across as rather understated

It is interesting to note that a consortium of businesses led by the Kuwait Finance House (KFH) has bought The Pearl wholesale for some RM550 million back in 2008 – a rather strong vote of confidence not only for The Pearl but also for the condominiums in the KLCC enclave on the whole.

The Configuration

Total of 179 units nested on 41 storeys, The Pearl has got nine layouts ranging from 3,973 sq ft (a typical unit) to the humongous presidential penthouse (more than 19,000 sq ft!).

Each condo unit comes with a private lift – beat that! There’s also a Sky Lounge which is situated on the second level which gives a good view of the iconic Petronas Twin Towers. There’s a tastefully designed 36-meter swimming pool – perfect for winding down after a long day at work…

If you’d like help in securing a good deal for The Pearl, then get in touch using this form. We can help research the available units for you so that you don’t have to waste time looking at stale listings at other property portals. The service is free, and non-obligatory (we are not real estate agents).

The typical tenant at The Pearl would be someone who is entrenched in the elite strata of the society, has good upward mobility, and keen to enjoy the finer things in life. He or she would probably be happy in a fast-paced environment, and prefer living in the city or near the workplace. There is a sizable population of expatriates living in The Pearl, and these are usually internationally-mobile senior executives who are with major multinationals, typically holding C-level positions.

Money Matters – Pearl KLCC’s Prices

The Pearl is heavily marketed to the buyers in the luxury tier. As such, the launch price set at around RM900 per sq ft was perceived as premium. Even then, the (transacted) prices have reached as high as RM1,400 in the middle of 2012. The prices have tapered off somewhat (as with most other KLCC condos like Marc Residence and the Binjai) as demand has remained relatively flat somewhat in 2012. However, there are indications that the demand is on a slow uptick in 2013, and prices are indeed starting to creep up.

KLCC'sThe Pearl

According to JPPH (the government department in charge of property and valuation), the 2012 prices for units at The Pearl remained the same as that of 2011 with the glut of luxury apartments of sizes more than 3,000 sq ft (similar to The Avare, but slightly more expensive on a PSF basis). Typical units (3,900 sq ft) were sold for RM4.5 – RM4.8 million which were essentially 2011 prices. A quick search at local property portals returned listings for partly furnished units at RM1,200 per sq ft. However, given the above average sizes the net asking price is still high at around RM4 million per unit.

The chart below shows the Pearl KLCC’s prices (asking) for the past few months (courtesy of our partners at GoodPlace.my which maintains a pricing database for Malaysia properties):-

Transportation & Connectivity

If you’re not into public transportation then getting in and out of the condominium area could well be troublesome sometimes – and this is the problem faced by most condominiums located inside the KLCC enclave. You see, the KLCC area attracts massive traffic jams, and it would be ideal if you don’t have to travel frequently (daily?) out of the area. That said, The Pearl is ideal for those who also work within the KLCC area. If you work elsewhere, then be prepared to spend awful lots of  hours on the road everyday.

If you don’t mind taking the public transport (a huge turn off for many KL-lites for some reason) then you will be pleased to find that the KLCC enclave has superior accessibility as it is connected by the train rails (Monorail and LRT) as well as bus (RapidKL) lines.

The Pearl’s GoodPlace Walkability Score (GWS) is 74, which is good on its own but slightly below average when compared to other condominiums in the KLCC enclave. To download a free high resolution map with walkability scores of most KLCC properties, click here.

Location-wise, The Pearl occupies a “sweet” spot which is right in the central business district and is just a stone’s throw away from the “Golden Triangle” shopping area. It is opposite the Ampersand, which is another prestigious development in the KLCC enclave, and a stone’s throw away from 1A Stonor. It is easily accessed via Jalan Kia Peng, Jalan Sultan Ismail and Jalan Bukit Bintang.

To check where the nearest amenities are, use this map below (click on the shortcuts on the right).
[poiautomap address=”The Pearl@klcc Jalan Stonor Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]The Pearl KLCC[/poiautomap]

Our Analysis

The Pearl may look like just another run-off-the-mill KLCC apartment, but we particularly like it for its location – rather quiet and serene although still easily accessible via all the major entry points. The size of the apartments are also bigger than the average KLCC condominium (smallest unit at 4,000 sq ft), which means that you won’t get the rowdy bachelor looking for a place to crash after a drunken stupor kind making a ruckus at 3 in the morning.

[dc]P[/dc]reviously with a less-than-memorable moniker of Stonor 116, The Pearl KLCC is a luxurious condominium developed by Malton (who is behind many major developments in Kuala Lumpur and the Klang Valley - namely V Square in Petaling Jaya, Amaya Maluri and Mutiara Indah in Puchong). [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for The Pearl's listings (for sale and for rent). One of the prettier ones amongst KLCC condos with a less imposing facade than its peers, The Pearl is one of my personal favorites! Keep reading to find out why. 🙂 [spotlight role="target"][feature_box title="Listings For The Pearl KLCC" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] While we have seen an uptick in the number of units available for The Pearl in the recent months, it does seem that the asking prices were flat-tish at a level just above the RM1,000 PSF median. We will delve into this matter further in this review. [caption id="attachment_457" align="aligncenter" width="480"] Rather pleasant and less imposing facade compared to its neighbors, The Pearl could come across as rather understated[/caption] It is interesting to note that a consortium of businesses led by the Kuwait Finance House (KFH) has bought The Pearl wholesale for some RM550 million back in 2008 - a rather strong vote of confidence not only for The Pearl but also for the condominiums in the KLCC enclave on the whole. The Configuration Total of 179 units nested on 41 storeys, The Pearl has got nine layouts ranging from 3,973 sq ft (a typical unit) to the humongous presidential penthouse (more than 19,000 sq ft!). Each condo unit comes with a private lift - beat that! There's also a Sky Lounge which is situated on the second level which gives a good view of the iconic Petronas Twin Towers. There's a tastefully designed 36-meter swimming pool - perfect for winding down after a long day at work... [yellow_message]If you'd like help in securing a good deal for The Pearl, then get in touch using this form. We can help research the available units for you so that you don't have to waste time looking at stale listings at other property portals. The service is free, and non-obligatory (we are not real estate agents).[/yellow_message] The typical tenant at The Pearl would be someone who is entrenched in the elite strata of the society, has good upward mobility, and keen to enjoy the finer things in life. He or she would probably be happy in a fast-paced environment, and prefer living in the city or near the workplace. There is a sizable population of expatriates living in The Pearl, and these are usually internationally-mobile senior executives who are with major multinationals, typically holding C-level positions. Money Matters - Pearl KLCC's Prices The Pearl is heavily marketed to the buyers in the luxury tier. As such, the launch price set at around RM900 per sq ft was perceived as premium. Even then, the (transacted) prices have reached as high as RM1,400 in the middle of 2012.…

SherpaScore: The Pearl KLCC

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Fair

Not particularly an eye-turner but The Pearl exudes a subtle charm that ought to impress discerning buyers. On top of great location, it also boasts bigger units than the usual KLCC offerings.

User Rating: 0.77 ( 5 votes)
67

The bigger size also means that the price is relatively high (latest listings are at RM3.7 million and above), and this is higher to its round-the-corner neighbour, the Ampersand @ Kia Peng (although price PSF is similar). The prices are hardly spare change; and the reality is that it’s easy to pay above the market rate if the necessary research is not done. Use this free guide to find out about a property’s “fair market value” using the SABBAC methodology –

klcc-hartanah

231 TR

February 16, 2014 — 3 Comments

A golf course view is always considered a prime view as it gives a certain air of serenity. And 231 Tun Razak (also known as 231 TR) can definitely boast of that. Located on the corner of Jalan Bukit Bintang and Jalan Tun Razak, 231 Tun Razak sits right across the Royal Selangor Golf Club, relatively away from the entertainment centre of the city.

Click here
(and scroll down if needed) if you are looking for property listings for 231 TR.

Also known as “231 Tun Razak”, 231 TR is nestled in a row of embassies, with the Embassy of the Republic of Indonesia to its right and the Embassy of the State of Kuwait to its left. Also Jalan Tun Razak, just crossing Jalan Bukit Bintang, you will find the exclusive Prince Court Medical Centre. Some of its residential neighbours include Bintang Goldhil, myHabitat and The Forum.

A 20-storey freehold luxury condominium that houses a total of 195 units on an acre of land, 231 TR was developed by Urban Delta, which is a subsidiary company of the YWC Group. YWC has been actively involved in major construction projects in the Klang Valley, but 231 TR seems to be its first foray into the luxury condominium market.

Accessibility & Walkability

231 Tun Razak is easily accessible via major roads in the city. It is strategically located on Jalan Tun Razak, one of the city’s main (and busiest!) roads. The property may be reached through Smart Highway, Jalan Bukit Bintang, Jalan Kia Peng, Jalan Ampang and Jalan Yap Kwan Seng, which all lead to Jalan Tun Razak. It is also very accessible by public transport through Hang Tuah, Imbi, Bukit Bintang and Raja Chulan train stations.

Access to the city centre itself is not a problem as it is networked through major roads leading to different parts of the country. Federal Highway, New Klang Valley Expressway, Sprint Expressway, Sungai Besi Expressway, Ampang Kuala Lumpur Elevated Highway, KESAS Highway and Kuala Lumpur-Putrajaya Expressway all links the city centre to the different parts of Malaysia.

Gossips!

To read the “Insider Gossips” below, unlock with a Facebook ‘like’. Disclaimer: we have not independently verified the information below, so use with caution. We shall bear no responsibility from the actions you take resulting from the information below. In other words, don’t base your investment decisions solely on these gossips. 🙂

[to_like id=”1377″]

231 TR’s main selling point is its proximity to the embassies as well as to KLCC and the Bukit Bintang area. At the time of the publication of this review, the asking price is well below the RM1,000 PSF median, and this means that 231 TR could well be one of the city condominiums with a better bang for the buck. However, it is also seen to be the “poorer” cousin of the neighbourin Bintang Goldhill. The circular design seems too compact for comfort, and in the words of a prospective buyer, “it felt like cheap public housing commonly found in Hong Kong”. Still, for the price, 231 TR may be hard to beat./feature_box][/to_like]

Getting Out and About

231 Tun Razak is situated relatively away from the buzz of KLCC. In fact, it’s about 3km away from the Petronas Twin Towers. But it does not mean that it falls short on the amenities. It may be rowed with embassies and banks, but are in short driving (even walking!) distances to a wide array of options for shopping, dining, entertainment, education and health.

231TR has a GoodPlace Walkability Score (GWS) of 69, which is slightly below average when it comes to KLCC condominiums. Click here for a free KLCC walkability map (in high resolution PDF), and for more information about the GWS.

First off, it has two neighbouring hospitals – the exclusive Prince Court Medical Centre and the Beverly Wilshire Medical Centre. One should never underestimate the urgency of an emergency when it comes.

If Jalan Ampang, a street lined with restaurants of different cuisines, seems a bit far by your standards (although it’s barely four kilometers away), you may opt for other restaurants which are accessible on foot. Try Passage of India, Levian Boulangerie Patisserie, Noble House of the quaint breakfast place called pH Pastry House. If you are a chocolate lover, the Beryl’s Chocolate Kingdon on Jalan Utara may be a gem. If you are up for some partying, troop to Jalan P Ramlee, a street famous for its bars and pubs. Some of the most popular bars are Aloha, Beach Club, Nuovo and Lunar.

Shopping centres, big or small, are also within reach from 231 Tun Razak. For upscale shopping, try Suria KLCC. For more options, head to Bukit Bintang, which houses a ton of boutiques to suit everyone’s fancy. Or you can also try The Pavilion.

Use our interactive map below to check where the closest amenities to the 231 TR are.
[poiautomap address=”231tr Service Suite Jalan Tun Razak Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]231 TR[/poiautomap]

Options for Living Spaces

There are eight available configurations of units at 231 Tun Razak, as detailed below –

  • Type A is sized 975 sqf with three bedrooms and two baths.
  • Type B, measuring 834 sqf, has two bedrooms and two baths.
  • Type C units are built-up at 552 sqf and has two bedrooms and a bath.
  • Type D is sized 960 sqf with three bedrooms and two baths.
  • Type E is 773 sqf and has two bedrooms and a bath.
  • Type F, the smallest, has a built-up size of 498 sqf with one bedroom and one bath.
  • Type G is built-up at 1,049 sqf and has two bedrooms and two baths.
  • Type H, the biggest, is built-up at 1,088 sqf with three bedrooms and two baths.

Of the 20 floors of 231 Tun Razak, only 15 floors are allotted to residential units, while the rest are used for parking and common facilities. Each unit is provided with air conditioning, water heater, closets, built-in kitchen cabinets and kitchen appliances. All units are finished with marble and timber.

Facilities

Aside from the 24-hour security that includes CCTVs, residents of 231 Tun Razak are entitled to the following facilities:

  • Intercom system
  • Swimming pool
  • Launderette
  • Housekeeping services (optional)
  • Gym
  • Jacuzzi
  • Conference room
  • WiFi broadband
  • Smart access

231TR Prices (Asking & Transacted)

At the time of writing, the market sub-sale prices for 231 Tun Razak range from RM700 to RM1,300 psf. This is quite steep compared to its neighbours. Bintang Goldhill (reviewed here) sells for about RM630 to RM700 psf while The Forum goes for an average of RM800 PSF (which seems to be amazing when considering its age!). To gauge how much this property is worth, remember to download our handy property valuation guide – it’s free.

Final Analysis

We like 231 TR because of its rather ‘moderate’ prices (compared to a typical upscale KLCC condominium), and the golf course view is considered killer! On the downside, being on Jalan Tun Razak has got its disadvantages, but there are good amenities which could be reached by foot and so the traffic problem may well be irrelevant to those who, well, do not have to travel out of the vicinity. Also, the units are relatively smaller (the biggest units are merely 1,000+ sq ft) and so the entry pricing is within the range of many.

If you’re interested in 231TR, you can use our free DealMatcher service for a shortlist of good, verified sub sale units. There is no charge for this service – click here.

All in all, good choice if you want a “starter” place which is right smack in the middle of the city with a good view of the KL skyline to boot. Bad choice if you travel out a lot during the day (work elsewhere?), or if you have got two hyper-active kiddies who need ample leg space like me. 🙂

[dc]A[/dc] golf course view is always considered a prime view as it gives a certain air of serenity. And 231 Tun Razak (also known as 231 TR) can definitely boast of that. Located on the corner of Jalan Bukit Bintang and Jalan Tun Razak, 231 Tun Razak sits right across the Royal Selangor Golf Club, relatively away from the entertainment centre of the city. [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for property listings for 231 TR. Also known as "231 Tun Razak", 231 TR is nestled in a row of embassies, with the Embassy of the Republic of Indonesia to its right and the Embassy of the State of Kuwait to its left. Also Jalan Tun Razak, just crossing Jalan Bukit Bintang, you will find the exclusive Prince Court Medical Centre. Some of its residential neighbours include Bintang Goldhil, myHabitat and The Forum. [spotlight role="target"][feature_box title="Listings For 231 TR" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] A 20-storey freehold luxury condominium that houses a total of 195 units on an acre of land, 231 TR was developed by Urban Delta, which is a subsidiary company of the YWC Group. YWC has been actively involved in major construction projects in the Klang Valley, but 231 TR seems to be its first foray into the luxury condominium market. Accessibility & Walkability 231 Tun Razak is easily accessible via major roads in the city. It is strategically located on Jalan Tun Razak, one of the city's main (and busiest!) roads. The property may be reached through Smart Highway, Jalan Bukit Bintang, Jalan Kia Peng, Jalan Ampang and Jalan Yap Kwan Seng, which all lead to Jalan Tun Razak. It is also very accessible by public transport through Hang Tuah, Imbi, Bukit Bintang and Raja Chulan train stations. Access to the city centre itself is not a problem as it is networked through major roads leading to different parts of the country. Federal Highway, New Klang Valley Expressway, Sprint Expressway, Sungai Besi Expressway, Ampang Kuala Lumpur Elevated Highway, KESAS Highway and Kuala Lumpur-Putrajaya Expressway all links the city centre to the different parts of Malaysia. Gossips! [dc]T[/dc]o read the "Insider Gossips" below, unlock with a Facebook 'like'. Disclaimer: we have not independently verified the information below, so use with caution. We shall bear no responsibility from the actions you take resulting from the information below. In other words, don't base your investment decisions solely on these gossips. 🙂 [to_like id="1377"][feature_box title="Insider Gossips" title_color="fff" header_color="F5BA47"]231 TR's main selling point is its proximity to the embassies as well as to KLCC and the Bukit Bintang area. At the time of the publication of this review, the asking price is well below the RM1,000 PSF median, and this means that 231 TR could well be one of the city condominiums with a better bang for the buck. However, it is also seen to be the "poorer" cousin of the neighbourin Bintang Goldhill. The circular design seems too compact for comfort, and in the words of a…

SherpaScore: 231 TR

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Good

No doubt that the golf course view racked up allure points for 231 TR. It's right a the heart of modern conveniences and yet the managed to also provide serenity for a moderate(ly high) price.

User Rating: 1.94 ( 2 votes)
68

We do take notice of the rather broad spread of the asking prices, and this is usually the symptom of the presence of bait-and-switch listings which are unfortunately prevalent in the upmarket property industry. For this reason, we usually advise potential buyers to do their own homework and determine the “fair price” on their own while giving less credence to the asking prices which are often set arbitrarily by sellers and their agents. Use this guide below to help you valuate a unit here at 231 TR (or any other property for that matter) –

klcc-re

Sri Kia Peng

February 16, 2014 — 2 Comments

Right across the KLCC Park, on Jalan Changkat Kia Peng off Jalan Kia Peng, lies a 12-storey condominium called Sri Kia Peng. This upscale condominium is a freehold property that has only one block housing a total of 64 luxury units.

Click here
(and scroll down if needed) if you are looking for property listings for Sri Kia Peng.

Sri Kia Peng is within walking distance to the famous Petronas Twin Towers, KLCC Park, the posh Suria KLCC, KL Convention Centre and Traders Hotel Kuala Lumpur. Some of its neighbors include Prince Hotel & Residence KL, Pavilion Residences, Menara Pinang, Park Seven and Stonor Park.

Development of the project was undertaken by Metzler in the early 1990s and was originally named Bunga Emas (I know, I know). It was then sensibly renamed as Sri Kia Peng in 1993 after Econ Resources took up 70% ownership. The development of Sri Kia Peng was completed in 1994. Being one of the oldest condominium developments in the KLCC enclave, it is showing its age, but due to its rather strategic location and the low density factor the prices have only been going up. Read further for more information on asking and transacted prices.

If you’re interested in Sri Kia Peng and you’d like help looking for a good unit to buy or to sell, click here for our free DealFinder service.

KLCC Living

Residing in KLCC offers luxury and convenience. The enclave is decorated with lots and lots of choices for dining, shopping, educational, health and recreational needs. Sri Kia Peng is strategically located right across the KLCC Park, which means that it is located within walking distances to a number of options. Right across is the upscale Suria KLCC mall, a haven for shopping enthusiasts. It houses local and international retail brands to suit your fancy. If you opt for something more diverse, you may walk to Bukit Bintang Shopping Centre.

Dining is always a pleasure for everyone and residing in KLCC gives you a vast variety to choose from. Besides the restaurants inside shopping centres and commercial buildings, KLCC is also lined with standalone restaurants. And depending on your mood and cravings, you could walk around to get your cravings satisfied. Seafood Paradise, Espressamente Illy, Bon Ton, Top Hat, Restoran Sri Melayu, Viet Passion, Restoran Gu Yue Tien, Gaucho Grill and Saisaki are within close proximity to Sri Kia Peng.

Sri Kia Peng’s GoodPlace Walkability Score (GWS) is 80, which is about average when it comes to KLCC condominiums. Find out more about what this score means and download the (free) KLCC walkability map here.

If you have had a rough day at work, an evening drink at Borneo Baruk Club or The Butter Factory KL may ease your  mind. Or better, opt for rooftop bars to couple your drinks with a spectacular view. Try Marini’s on 57 (located on the 57th floor of Petronas Tower 3), Luna Bar (34th floor of Pacific Regency Suites off Jalan P Ramlee) or Atmosphere 360 (above KL Tower’s view deck). It is highly recommended though that you try these rooftop bars on a Friday or you might end up not getting enough sleep for next day’s work. The views could simply awe you and take your sense of time away.

Besides the international schools (IS) – Garden IS, Fairview IS, Alice Smith, IS KL, Julia Gabriel Centre for Learning, Sayfol IS and Mont Kiara IS – you may also find the University of Nottingham Malaysia campus, Berjaya College of Hospitality and a number of language schools populating the area. Foreign embassies also line the streets of KLCC so expatriates do not need to worry about consular concerns.

The city centre itself may be accessed through major roads such as Jalan Tun Razak, Jalan Ismail and Jalan Ampang. Besides accessing Sri Kia Peng by private vehicles, you can also utilize public transportation such as buses, the Monorail and the LRT.

Want to know where the closest amenities to Sri Kia Peng are? Use this interactive map below.
[poiautomap address=”Sri Kia Peng Condominium Jalan Changkat Kia Peng Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Sri Kia Peng[/poiautomap]

Living Spaces and Perks at Sri Kia Peng

Sri Kia Peng was offered to the public in three floor plans. Stana, the biggest among the three, are penthouses measuring 6,562 sqf and 6,475 sqf. There were only two units of each built-up size. The second floor plan, Mahkota, are three-bedroom units measuring 2,278 sqf. Each unit has two balconies in the master bedroom and all bedrooms have ensuite baths. Petra, the smallest of the floor plans, are two-bedroom units measuring 1,766 sqf.

There are four Stana units, 40 Mahkota units, and 20 Petra units, totaling 64 units in all.

[dc]R[/dc]ight across the KLCC Park, on Jalan Changkat Kia Peng off Jalan Kia Peng, lies a 12-storey condominium called Sri Kia Peng. This upscale condominium is a freehold property that has only one block housing a total of 64 luxury units. [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for property listings for Sri Kia Peng. Sri Kia Peng is within walking distance to the famous Petronas Twin Towers, KLCC Park, the posh Suria KLCC, KL Convention Centre and Traders Hotel Kuala Lumpur. Some of its neighbors include Prince Hotel & Residence KL, Pavilion Residences, Menara Pinang, Park Seven and Stonor Park. [spotlight role="target"][feature_box title="Listings For Sri Kia Peng" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] Development of the project was undertaken by Metzler in the early 1990s and was originally named Bunga Emas (I know, I know). It was then sensibly renamed as Sri Kia Peng in 1993 after Econ Resources took up 70% ownership. The development of Sri Kia Peng was completed in 1994. Being one of the oldest condominium developments in the KLCC enclave, it is showing its age, but due to its rather strategic location and the low density factor the prices have only been going up. Read further for more information on asking and transacted prices. [blue_message]If you're interested in Sri Kia Peng and you'd like help looking for a good unit to buy or to sell, click here for our free DealFinder service.[/blue_message] KLCC Living [dc]R[/dc]esiding in KLCC offers luxury and convenience. The enclave is decorated with lots and lots of choices for dining, shopping, educational, health and recreational needs. Sri Kia Peng is strategically located right across the KLCC Park, which means that it is located within walking distances to a number of options. Right across is the upscale Suria KLCC mall, a haven for shopping enthusiasts. It houses local and international retail brands to suit your fancy. If you opt for something more diverse, you may walk to Bukit Bintang Shopping Centre. Dining is always a pleasure for everyone and residing in KLCC gives you a vast variety to choose from. Besides the restaurants inside shopping centres and commercial buildings, KLCC is also lined with standalone restaurants. And depending on your mood and cravings, you could walk around to get your cravings satisfied. Seafood Paradise, Espressamente Illy, Bon Ton, Top Hat, Restoran Sri Melayu, Viet Passion, Restoran Gu Yue Tien, Gaucho Grill and Saisaki are within close proximity to Sri Kia Peng. Sri Kia Peng's GoodPlace Walkability Score (GWS) is 80, which is about average when it comes to KLCC condominiums. Find out more about what this score means and download the (free) KLCC walkability map here. If you have had a rough day at work, an evening drink at Borneo Baruk Club or The Butter Factory KL may ease your  mind. Or better, opt for rooftop bars to couple your drinks with a spectacular view. Try Marini's on 57 (located on the 57th floor of Petronas Tower 3), Luna Bar (34th floor…

SherpaScore: Sri Kia Peng

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Average

Though quite old, the property maintains its decent appeal thanks to its strategic location. The only question is whether it can keep up with the rapid pop ups of new launches in KLCC.

User Rating: 2.63 ( 1 votes)
61

Residents of Sri Kia Peng are provided with facilities befitting its luxurious image. Aside from the 24-hour security, a fully-equipped gym, swimming pool, covered carpark, play area, mini market, jogging track, bbq area, nursery and business centre are perks the dwellers are entitled to.

Sri Kia Peng Prices – The Math

When Sri Kia Peng was launched, asking price per square feet was at RM400 – definitely a premium at that time. After almost two decades since its launch, asking prices for units at the property are from RM600 to RM700+ PSF. The high appreciation value of Sri Kia Peng is an indicator that this is a good investment opportunity, but will it keep on rising?

The chart below shows the trended asking prices (when available) for the past few months.

At the time of this review, units of size 1,700 sq ft are going at around RM1 million, which translates to about RM588 PSF – way lower than the median RM1,000 PSF price commonly associated with KLCC condominiums. Is this a bargain? Find out for yourself by using our easy property evaluation guide here (use the signup form below).

klcc-hartanah

The Binjai On The Park

February 11, 2014 — Leave a comment

The Binjai On The Park – Live Among The Elites

The Binjai (not to be confused with Binjai Residency and Binjai 8 is developed by a subsidiary of KLCC Holdings known as Layar Intan. Famous for being the most expensive piece of real estate in Malaysia (in terms of price per square foot) a couple of years ago, The Binjai On The Park remains one of the prime pieces of upmarket real estate in Klang Valley, nay Malaysia. The condominium was designed by Allen Jack + Cottier (known famously as AJ+C), the Australian based architect with regional presence in Malaysia, Vietnam and China.

Click here
(and scroll down if needed) if you are looking for property listings for The Binjai On The Park.

Completed near the end of 2008, the Binjai On The Park is located on Jalan Binjai (named after the Binjai trees found in the area before the KLCC project commenced), at only a stone’s throw away from the iconic Petronas Twin Towers. While the condominium is accessible easily via major roads such as Jalan Tun Razak and Jalan Ampang, heavy traffic is a given for tenants in the KLCC area. The Binjai is under the “Zone C: Binjai” classification together with its neighbours, Park Seven and Stonor Park (as well as the upcoming Platinum Park).

Binjai On The Park picture

Is the Super Penthouse unit worth some RM50,000,000? Obviously someone thought so 🙂

Location & Walkability Information

KLCC condominiums appeal to many because of their strategic locations where many amenities are accessible by foot. The GoodPlace Walkability Score (GWS) measures how “walkable” a property is (more details about this methodology here). The Binjai’s GWS is 87, which is above average even by KLCC standards. For a free (high resolution) PDF map with the Walkability Scores of major KLCC properties, click here.

The interactive map below shows where the closest amenities to the The Binjai On The Park are (play around with the shortcuts on the right sidebar).
[poiautomap address=”The Binjai Kuala Lumpur City Centre Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]The Binjai On The Park[/poiautomap]

The Appeal

The Binjai (despite not being a “branded” development like Harrods, Banyan Tree or the Four Seasons Place) was able to achieve record-breaking prices primarily because of two reasons: one, its location, and two, the fact that it will perpetually have the much coveted KLCC Twin Towers view (there will be no more developments in the park). This cannot be said for most of the other KLCC condominiums as more developments sprout up as the demand grows. Additionally, the fact that it’s built as “part” of the park is also a major selling point.

We also regularly receive “gossips” from people who are in the know – agents, brokers, buyers and industry insiders. The information contained below may provide yet another reference point for prospective buyers, but we do have to point out that these are not verified, and so please exercise caution. By unlocking the content below you agree that we will not be responsible for any losses incurred from the information contained below. Thank you.

[to_like id=”1377″]

[/to_like]

Configuration

A freehold development, the Binjai consists of two blocks – one with 44 stories, and the other 45. Being inside the KLCC enclave, it is close to shopping malls (notably Suria KLCC) and also the KLCC Park – a sprawling open space right in the middle of the KLCC development. A convention centre (the Kuala Lumpur Convention Centre) is also nearby.

The Binjai is also notable for its high maintenance fee of MYR1.10 psf. If you are a proud owner of one of the penthouses (more than 5,500 square feet), expect to pay more than MYR6,000 monthly for maintenance…

Facilities include:-

  • Barbecue area
  • Covered parking
  • Gym
  • Jogging track & playground
  • Sauna
  • Swimming Pool
  • Round-the-clock security
  • Nursery
  • Tennis courts

Binjai towersAs with other condominiums in the KLCC enclave, there are no nearby schools although there are shuttle buses which pick up students to chauffer to the schools daily. These are typically international schools in Kuala Lumpur. The nearest public schools are about 1km away (Chung Hwa Primary School and SK Gurney). There are also buggy services to the Petronas Twin Towers via the KLCC Park.

Recently we have stumbled upon a very interesting article about an expat family from Scotland which settled quite nicely at the Binjai. To paraphrase Jane MacLeod, “We walked in, and we knew we had come home.” To read the article, click here.

The Binjai On The Park - Live Among The Elites [dc]T[/dc]he Binjai (not to be confused with Binjai Residency and Binjai 8 is developed by a subsidiary of KLCC Holdings known as Layar Intan. Famous for being the most expensive piece of real estate in Malaysia (in terms of price per square foot) a couple of years ago, The Binjai On The Park remains one of the prime pieces of upmarket real estate in Klang Valley, nay Malaysia. The condominium was designed by Allen Jack + Cottier (known famously as AJ+C), the Australian based architect with regional presence in Malaysia, Vietnam and China. [spotlight role="switch"]Click here[/spotlight] (and scroll down if needed) if you are looking for property listings for The Binjai On The Park. [spotlight role="target"][feature_box title="Listings For SThe Binjai On The Park" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] Completed near the end of 2008, the Binjai On The Park is located on Jalan Binjai (named after the Binjai trees found in the area before the KLCC project commenced), at only a stone's throw away from the iconic Petronas Twin Towers. While the condominium is accessible easily via major roads such as Jalan Tun Razak and Jalan Ampang, heavy traffic is a given for tenants in the KLCC area. The Binjai is under the "Zone C: Binjai" classification together with its neighbours, Park Seven and Stonor Park (as well as the upcoming Platinum Park). [caption id="attachment_294" align="aligncenter" width="520"] Is the Super Penthouse unit worth some RM50,000,000? Obviously someone thought so :)[/caption] Location & Walkability Information KLCC condominiums appeal to many because of their strategic locations where many amenities are accessible by foot. The GoodPlace Walkability Score (GWS) measures how "walkable" a property is (more details about this methodology here). The Binjai's GWS is 87, which is above average even by KLCC standards. For a free (high resolution) PDF map with the Walkability Scores of major KLCC properties, click here. The interactive map below shows where the closest amenities to the The Binjai On The Park are (play around with the shortcuts on the right sidebar). [poiautomap address="The Binjai Kuala Lumpur City Centre Kuala Lumpur Federal Territory of Kuala Lumpur" zoom="15"]The Binjai On The Park[/poiautomap] The Appeal The Binjai (despite not being a "branded" development like Harrods, Banyan Tree or the Four Seasons Place) was able to achieve record-breaking prices primarily because of two reasons: one, its location, and two, the fact that it will perpetually have the much coveted KLCC Twin Towers view (there will be no more developments in the park). This cannot be said for most of the other KLCC condominiums as more developments sprout up as the demand grows. Additionally, the fact that it's built as "part" of the park is also a major selling point. We also regularly receive "gossips" from people who are in the know - agents, brokers, buyers and industry insiders. The information contained below may provide yet another reference point for prospective buyers, but we do have to point out that these are not verified, and…

SherpaScore: The Binjai On The Park

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Very Good

Known as the priciest development in the country, The Binjai On The Park justifies its hefty price tag with a design like no other. Adding allure to its highly coveted facade are strategic location and of course, the perpetually envied Petronas Twin Towers view.

User Rating: 1.43 ( 6 votes)
83

Investing For Capital Appreciation?

The KLCC area has been a favorite amongst expatriates and the rich – it’s highly sought after for its high rental yields as well as capital appreciation. The asking price hovers around MYR2,500 per square foot – it remains firmly in the upper tier as far as pricing is concerned, and a clear favorite among affluent investors. It is also notably more expensive than nearby KLCC condominiums, like its neighbours Park Seven and Stonor Park, or the exquisite Marc Residence.

It is important to note that the transacted prices for KLCC condominiums have somewhat flattened recently, and so it might be a good opportunity to secure a unit for capital appreciation in the coming years.

However, it is interesting to note that the Super Penthouse unit here at the Binjai was sold for a handsome fee of some RM50 million – setting the record for the most expensive piece of real estate ever sold in Malaysia. This unit measured at over 19,000 square feet in size, and that makes the PSF to be more than RM2,600 – which is considerably higher than the median KLCC condominium PSF of RM1,000. Even the fairly recent transactions were above the RM2,000 PSF range. (The record of the most expensive real estate transaction in Malaysia in terms of price per square feet is held by Four Seasons Place – go here for more information).

See the chart above for the recent months’ asking price trends (courtesy of GoodPlace.my’s pricing databases and other publicly available information sources).

What We Think

In the final analysis, KLCC is arguably the most successful integrated development in the Klang Valley, and for this reason the area has progressed significantly in the recent years. It has got a prestigious address which draws in multinationals and local businesses alike.

Picture of the entrance to the Binjai

Eye candy even from the outside. Yum

Residency in KLCC is also appealing due to its vibrant nightlife and proximity to the heart of the Golden Triangle shopping district (Jalan Bukit Bintang). Not surprisingly, KLCC remains a firm choice among the expatriates (who may go to work in one of the commercial buildings inside the KLCC enclave) as well as the more affluent locals.

If you’re interested in a unit at the Binjai – for rent or for sale – use our DealFinder service for a shortlist of good, available properties. This service is free. Click here.

The Binjai remains out of reach for the common dude on the street, but the seasoned investor will be savvy enough to carefully analyze what’s the fair market value of a unit here without being swayed by emotions and media driven hype. If you’re considering to invest a unit here at the Binjai, use our valuation guide which we will email you once you entered your email address below –

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Panorama KLCC

February 11, 2014 — 1 Comment

Panorama KLCC, a freehold luxury condominium in the Kuala Lumpur City Centre (KLCC) area, is a uniquely designed architecturial masterpiece which boasts a panoramic view of the Kuala Lumpur city skyline. It is one of the condominium developments which are closer to the iconic Petronas Twin Towers, and along a row of embassies (Kenya, Morocco, Ecuador). Specifically, it is right behind Hampshire Residence (on Persiaran Hampshire), and across the road from The Meritz and K-Residence.

Click here
if you are searching for property listings for Panorama (and scroll down if necessary).

Given its location, it’s no surprise that Panorama commands a premium even when compared to other top-tier Kuala Lumpur City Centre (KLCC) condominiums and apartments. Only a couple of minutes of walking distance to the LRT station and Menara Citibank as well as a score of shopping malls, Panorama KLCC occupies perhaps one of the best spots in the KLCC enclave (classified as “Zone A” as per KLCCcondominiums.com.my’s zoning classification).

panorama-view

Accessibility Information – And A Free Map!

Panorama, being in the heart of the KLCC enclave, enjoys superior accessibility – it can be reached easily from Jalan Yap Kwan Seng, Jalan Ampang, the SMART highway, Ampang-KL Elevated Highway and also Jalan Mayang.

This condominium has a GoodPlace Walkability Score (GWS) of 76 (on a scale from 0 to 100, with 100 being the best). For more details on what this score means, and to download a free KLCC Walkability Map (in high resolution PDF), click here (comes up in a new window).

Use this map below to check where the closest amenities to the Panorama KLCC are (click on the icons on the right to toggle the location of the hotspots).
[poiautomap address=”3.161266,101.714771″ zoom=”15″]Panorama KLCC[/poiautomap]

If you don’t mind taking the public transport, then the Suria KLCC LRT station is only a stone’s throw away. Pretty convenient. Being near Suria KLCC also means that tenants can easily get a taxi at Suria’s taxi and public transportation hub.

Lots Of Recreational Options

Tenants of Panorama can get to enjoy the KLCC recreational park which is about ten minutes away by foot. The Royal Selangor Golf Club is a little further – a couple of kilometres away. Its promixity to Suria KLCC means that residents can easily access its chic shopping outlets and fine dining restaurants.

Picture of Panorama KLCC

Panorama occupies a quiet spot in the KLCC enclave next to the cluster of “Hampshire” condominiums

Apart from Suria KLCC, it is also close to the mid-range Avenue K which houses restaurants like Pelita Nasi Kandar, The Smokehouse as well as The Deccan, a famous Nasi Bryani joint.

Situated further away from the clubbing area of Jalan Sultan Ismail, Panorama can be the ideal choice for small families or for individuals who want a little peace and quiet (away from the bar and clubs area). Now if you’re the clubbing kind you might as well opt for a unit at Marc Residence instead.

Choices, Choices…

Panorama KLCC, with a rather unique shape, consists of two blocks of apartments (called rather unimaginatively Tower A and Tower B) with 33 floors each, housing a total of more than 220 condominiums unit. Tower A houses the entrance with only one unit per floor – very low unit per area density factor which is a major selling point. Tower B, on the other hand, houses either one or two units per floor. Still not too bad…

The apartment choices that are available are one-bedroom apartments (592-603 sq ft), two-bedroom apartments (1,152-1,249 sq ft) and three-bedroom apartments (1,798-1,819 sq ft). The units here are rather small compared to, say, the standard offerings at Troika or St Mary Residences (where the penthouses can reach up to about 6,800 sq ft in size).

Every condominium unit is furnished with top-of-the-range finishings – timber and marble flooring comes as standard. The white furnishing looks especially classy, and the full height “floor-to-ceiling” windows gives the condominium a sense of “maximized” space. Each unit has got a good view of the Kuala Lumpur skyline and its surrounding areas. It is definitely living up to its moniker!

Panorama KLCC is packed-to-the-brim with top notch facilities such as:-

  • Swimming pools (full length lap pool and a play pool for children)
  • Barbeque pits
  • Children’s playgrounds
  • Gym, sauna and steam rooms
  • A resident’s only viewing deck situated on the seventh level

Healthy Take-Up Rates

A month into its launch back in early 2008, Panorama has seen a healthy take-up rate of around 60%, which is pretty high by KLCC standards. Developed by UOL Group Limited (a Singaporean developer) and General Corporation Berhad (a local property and construction conglomerate), Panorama is one of the more expensive condominiums in the KLCC area.

It is also interesting to note that the UOL Group already owns a slew of luxurious properties  such as One Residency on Jalan Raja Chulan as well as the series of Parkroyal hotels – in Kuala Lumpur as well as Penang.

Entrance to Panorama

UOL has got its roots in the hospitality sector, being the parent company of Hotel Plaza Ltd. UOL has got a distinguished track record in Singapore, having developed the Velocity @ Novena Square and the United Square malls as well as the snazzy Spottiswoode Residences and the highly popular Katong Regency.

Panorama KLCC Prices (Asking & Transacted)

Panorama is seen to be “expensive” even by KLCC standards – the average for sale price breached the RM1,200 per sq ft level in early 2013. Note that the launch price was as low as RM750,000 for the smallest units and up to more than RM2.3 million for the bigger units. The capital appreciation was indeed substantial. A recent check at one of our local Malaysian property portals shown that the asking price indeed has risen to more than RM2 million for a 1,819 sq ft unit. Not cheap…

As there is heightened competition in the KLCC enclave in the last 24 months, the asking price for Panorama is seen to be on the uptick. It is interesting to note that occupancy rate in the KLCC area has suffered somewhat although there are positive projections for this year.

All In All…

Panorama looks somewhat differentiated from the other condominiums which line up Persiaran Hampshire, and with its smaller units it might even perform better than its neighbouring counterparts in the rental market. With asking prices breaking the RM1,500+ PSF barrier as we have seen in the last couple of months (at the time of the update of this review), we expect rental yield to continue to be depressed (as with the rest of the condominiums inside the KLCC enclave).

[dc]P[/dc]anorama KLCC, a freehold luxury condominium in the Kuala Lumpur City Centre (KLCC) area, is a uniquely designed architecturial masterpiece which boasts a panoramic view of the Kuala Lumpur city skyline. It is one of the condominium developments which are closer to the iconic Petronas Twin Towers, and along a row of embassies (Kenya, Morocco, Ecuador). Specifically, it is right behind Hampshire Residence (on Persiaran Hampshire), and across the road from The Meritz and K-Residence. [spotlight role="switch"]Click here[/spotlight] if you are searching for property listings for Panorama (and scroll down if necessary). Given its location, it's no surprise that Panorama commands a premium even when compared to other top-tier Kuala Lumpur City Centre (KLCC) condominiums and apartments. Only a couple of minutes of walking distance to the LRT station and Menara Citibank as well as a score of shopping malls, Panorama KLCC occupies perhaps one of the best spots in the KLCC enclave (classified as "Zone A" as per KLCCcondominiums.com.my's zoning classification). [spotlight role="target"][feature_box title="Listings For Panorama KLCC" title_color="fff" header_color="F5BA47"][listing][/listing][/feature_box][/spotlight] Accessibility Information - And A Free Map! [dc]P[/dc]anorama, being in the heart of the KLCC enclave, enjoys superior accessibility - it can be reached easily from Jalan Yap Kwan Seng, Jalan Ampang, the SMART highway, Ampang-KL Elevated Highway and also Jalan Mayang. This condominium has a GoodPlace Walkability Score (GWS) of 76 (on a scale from 0 to 100, with 100 being the best). For more details on what this score means, and to download a free KLCC Walkability Map (in high resolution PDF), click here (comes up in a new window). Use this map below to check where the closest amenities to the Panorama KLCC are (click on the icons on the right to toggle the location of the hotspots). [poiautomap address="3.161266,101.714771" zoom="15"]Panorama KLCC[/poiautomap] If you don't mind taking the public transport, then the Suria KLCC LRT station is only a stone's throw away. Pretty convenient. Being near Suria KLCC also means that tenants can easily get a taxi at Suria's taxi and public transportation hub. Lots Of Recreational Options [dc]T[/dc]enants of Panorama can get to enjoy the KLCC recreational park which is about ten minutes away by foot. The Royal Selangor Golf Club is a little further - a couple of kilometres away. Its promixity to Suria KLCC means that residents can easily access its chic shopping outlets and fine dining restaurants. [caption id="attachment_314" align="alignleft" width="360"] Panorama occupies a quiet spot in the KLCC enclave next to the cluster of "Hampshire" condominiums[/caption] Apart from Suria KLCC, it is also close to the mid-range Avenue K which houses restaurants like Pelita Nasi Kandar, The Smokehouse as well as The Deccan, a famous Nasi Bryani joint. Situated further away from the clubbing area of Jalan Sultan Ismail, Panorama can be the ideal choice for small families or for individuals who want a little peace and quiet (away from the bar and clubs area). Now if you're the clubbing kind you might as well opt for a unit at Marc Residence…

SherpaScore: Panorama KLCC

Location
Design
Amenities
Yield
Developer Reputation
Value for Money

Very Good

As the name suggests, Panorama is a residential masterpiece that boasts of an unobstructive and beautiful panoramic view of KL's skyline. It's exudes beauty all around - from inside every unit extending to its surroundings.

User Rating: 2.01 ( 8 votes)
74

We have also noticed that there are a relatively smaller number of units being advertised for sale at our local property portals, and this may indicate that a majority of the owners of units at Panorama are in for the long haul. However, if you’re interested in buying or renting a unit here at Panorama and you’d like the homework being done for you, then use our DealFinder service here. I’m not a property agent, but I can link you up with one. 🙂

Finally, the jury is still out there if its relatively high asking prices are sustainable, and to know this, it’s important to know how to do a quick valuation exercise on your own. To check what’s the fair price to pay for a unit at Panorama KLCC, use this valuation guide which you can download for free below once you entered your details –

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