Properties in Malaysia

Another Property Times news about Binjai Residency:

Lure of the Binjai

By Anna Chidambar

The luxurious high-life in Kuala Lumpur’s coveted Golden Triangle precinct has just got that much higher with the Binjai Residency service residence, a project being undertaken by developer Amity Binjai Sdn Bhd (ABSB).

“We are aiming to create family-oriented serviced residences in this trendy and upmarket part of KL overlooking the KLCC Park,” ABSB managing director Lee Kwong Yan said.

Industry sources point out that The Binjai,another luxury condo being developed by KLCC Holdings Bhd within the Kuala Lumpur City Centre development that also houses the Petronas Twin Towers, is pegged above the RM1,000psf mark, while the Binjai Residency, in the same vicinity, is pegged about 30 per cent below, from RM530psf.

While The Binjai will comprise 171 condos on a 1.8-acre site, ABSB’s project will spring from a 0.8-acre freehold commercial plot and have 100 serviced apartments in a 32-storey block.

Industry sources concur that most on-going projects in the area are priced around the RM650psf mark, with more than a dozen developers building or planning about 4,000 highrise residential units in the vicinity.

Said Lee: “Prices for our serviced apartments are between RM530psf and RM680psf, much lower than what is currently being offered.”

So far, 70 per cent of the Binjai Residency’s units have been sold since its launch last October and Lee is confident that the remaining units will be taken up soon. The project is scheduled for completion in 36 months, but Lee is confident that it can be handed over to buyers by early 2007.

According to him, the Golden Triangle is now taking the shape of a “square”, bordered by the arterial roads of Jalan Ampang, Jalan Pinang, Jalan Kia Peng and Jalan Tun Razak, with the KLCC Park in the centre.

Nestled in the most trendy and valuable part of KL, the Binjai Residency is located two minutes’ drive from the Ampang Park LRT station and five minutes from KLCC, allowing ease of travel within the financial, business and entertainment zone.

The international-styled residences comprise five levels of above-ground car parks and a hotel-like lobby with an exclusive lift system that opens directly into a resident’s unit.

Lee’s background - as a former practising architect - is reflected in the interior design of the units, which are designed to be cosy with the rooms convertible into other uses, should the need arise.

Each floor will comprise four units with sizes ranging from 2,096sq ft to 2,208sq ft, while the premium units ranging from 2,213sq ft to 2,326sq ft will have an extra master bedroom with an attached lounge opening to the balcony.

For those desiring exclusive living, there are four duplex penthouses each with an infinity-edged 42ft-long swimming pool that will provide uninterrupted views of the surrounding landscape, complete with pool deck.

Each penthouse ranging from 5,940sq ft to 6,557sq ft will consist of six rooms, six baths and provision for an entertainment room that can accomodate audio-visual equipment.

Lee considers the Binjai Residency “a wise investment” as he predicts the units will be able to attract high rental returns and subsequently, strong capital appreciation.

“Buyers can expect to attain a rent of RM10,000 per month, based on the location and facilities provided,” he said.

“Our project comes with many features that are not provided by others. In order to enhance and maintain the high quality of our units, we even provide kitchen appliances and cabinets.”

Kitchens will be furnished with cabinets and cooker hoods, hobs, food disposal units and ovens. The master bedrooms will be fitted with designer walk-in wardrobes while the bathrooms will be completely fitted, with mirrors as well.

All the units will be air-conditioned and equipped with broadband Internet points, as well as centralised gas and water filtration systems. A state-of-the-art system will provide round-the-clock security monitoring.

“We believe a satisfied customer is a life-long buyer and we make it a point to provide the best in terms of finishes, facilities and even services,” Lee emphasised.

Looking at a built-up area of 2,096sq ft, buyers will be able to make Binjai Residency their residential address at a price starting from RM1.193 million.

Based on Lee’s forecast rent of RM10,000 monthly, this implies that a unit could possibly yield a nett annual return of 8.4 per cent.