The Binjai On The Park – Live Among The Elites
The Binjai (not to be confused with Binjai Residences) 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), it’s designed by Allen Jack + Cottier (known famously as AJ+C), the Australian based architect with regional presence in Malaysia, Vietnam and China.
Completed near the end of 2008, the Binjai On The Park is located on Jalan Binjai (hence the name), 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.
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…
- Berbecue area
- Covered parking
- Jogging track & playground
- Swimming Pool
- Round-the-clock security
- Tennis courts
As 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.
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 MYR2,000 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 that nearby KLCC condominiums, like the 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.
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. Residency in KLCC is also appealling 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 considering buying a condominium in the KLCC enclave, get The Definitive KLCC Condo Report. Click here to download your copy – it’s complimentary.