Property Troika - Integrated Development

The Troika

Landvest Presents The Troika.
Located in Kuala Lumpur, Malaysia.
Tallest Residential Development In Malaysia.
100% Freehold Status.
All apartments Semi-Furnished.
Views of The Twin Towers & Central Parks.
State Of The Art Facilities.
24th Floor Interlinks All 3 Towers.

The Troika is the stuff of dreams. A dream that was BRDB’S to create the city’s most beautiful and desirable condominium, right in the country’s most sought-after location.

The shear walls create a building utterly unique to this site, as they shield surrounding development and orientate occupants so that the best views can be enjoyed.

The Troika is the tallest residential development in Malaysia.

- The three towers are interlinked by a skybridge at the 24th level.
- The towers twist as they rise, maximising apartments' views of the city skyline.
- The Troika is Malaysia's first globally-branded residential development.

The Troika - One of the selected top 10 luxury condominiums with beautiful view of KLCC Twin Towers and KLCC park.

In total, there will be 172 residential units, with standard units ranging from
989 – 3,336 sq ft and Penthouses from 5,441 sq.ft., 3bedrooms and more.

Facilities include:

Personalized Concierge, 24hrs valet parking services, satellite television, broadband access, Business centre, bar/cafe gym, creche, children's playroom, lounge, gymnasium, laundry service, reading rooms, swimming pool, children's pool and landscaped communal gardens, as well as special provisions for use of the exclusive spa.

The Troika Is An Integrated Development:

8 Penthouse,

164 apartment,

57 SOHOs (see below)

The sky lobby

The Necklace.

SOHO is an acronym for SMALL OFFICE HOME OFFICE. These are units that provide the ultimate in flexibility, designed for use either as an office, an apartment or a combination of the two.

The sky lobby is a unique feature of this development, with some 25,000 sq.ft. of double volume space spanning the three towers and connected by two sky bridges.

Enjoying the city's finest views, the space will be retained by developer to provide highly exclusive facilities for residents and guests.

The Necklace is a four-storey circular podium from which The Troika towers rise majestically skywards. Complementary shops, restaurants and offices will be housed within, while the roof accommodates the residents' recreational facilities.

Property News Troika - The Art of Living

The Troika is under development where the price has gone to at about RM2,000 /sq ft. This is a great investment with its proximity to KLCC, the tallest building in Malaysia.

Location of The Troika:

Site Plan of The Troika:

The following article is the description of The Troika from KL Traders:

Troika - The Art of Living

The Troika is the stuff of dreams. A dream is to create the city’s most beautiful and desirable condominium, right in the country’s most sought-after location.

The vision required imagination and craft to be realized. And so it was decided to engage Foster and Partners to create a new residential landmark for Kuala Lumpur to complement Caesar Pelli’s Petronas Twin Towers.

Foster and Partners building can be distinguished not only by their drama and beauty, but also by their functionality and the ingenious use of space. Frosters’ approach can be summarised in one word -- detail - born of a passion for architecture and design.

And while aesthetics are of course important, Froster and Partners are equally concerned about the social dimensions of their creations. these are preserne the quality of life and to create places that people wnat to go.

For The Troika, early plans incorporated three towers of varying height emerging from 'The Necklace' - a circular podium of complementary office and retail space. The Necklace frames a landscaped courtyard of 30,000 sq. ft. to provide a calm retreat exclusively for residents.

The architects' priorities were to create beautiful and functional homes, with each one able to take in the beauty of the location, such as KLCC Park, The Petronas Twin Towers and the KL city skyline.

To guarantee the best views possible for each apartment, Froster and Partners introduced the concept of a twisting building - essentially allowing individual floor plans to rotate as the building rises to enjoy KL's most stunning views.

With this objective, Froster and Partners pinned the three towers around dramatic shear walls, giving the development a strong linear character, while also framing views and providing critical shade to individual apartments.

Only then did Froster and partners address the external design. And the result is spectacular- using their signature glass and steel materials and supported by dramatic shear pre-cast concrete walls. The Troika is as beautiful from afar as it is functional from within.

The Troika. Delivering the art of living

Troika is a Russian word for a chariot drawn by three horses abreast. In the last century, the word took on a geopolitical connotation and came to symbolise a powerful triumvirate.

Property Insight - Crest Kuala Lumpur

Another article featuring the launch of Crest where it is encouraged by this website to invest in the Crest at its strategic vibrant location in Kuala Lumpur. These two articles (including the one posted previously) have given us the better insight of the property Crest that will be completed in 2010. Have a look at what Property Frontiers say about the Crest Kuala Lumpur:

Overview

• Sought after location within KL’s Golden Triangle
• Luxurious amenities aimed at the life-style orientated young professional with apartments ranging from 1 bedroom apartments to 5 bedroom penthouses
• Forecasted rental yields of at least 10%
• 70% LTV mortgages available, allowing cash investments from £25k plus purchase costs
• A secure development, backed by Bank Rakyat Malaysia Berhad, one of Malaysia’s oldest banks.
• Annualised Return on Cash Invested of 72%
• Kuala Lumpur is the main city set to benefit from Malaysia’s booming economy
• Facilities for businessmen and tourists alike, with an abundance of shopping malls, green parks and high quality hotels
• Urbanisation rates are very high, with the urban community set to increase by 4.5m over next 15 years
• GDP growth in 2006 was 5.8%
• Young population with over half the Malaysian population under 27
• Affordability is at a ten-year high in Malaysia, only 18% of monthly income now required to service a mortgage
• Capital Gains Tax was abolished (from 30% down to 0%) in April 2007

Description

With a population of 24m (half of which are under 27 yrs of age), urbanisation occurring at an alarming rate of 10% per annum and supply estimated at 44% of current demand, the Malaysian property market is an exciting place to be right now. Add to this a ten-year high for affordability, low interest rates, mortgage lenders providing longer repayment periods and with wages increasing, indicators for profitable investment abound. Economically Malaysia is robust, with unemployment now below 4% due to the surging high-tech sector feeding the fast growing consumer hunger of neighbouring China. GDP has been over 5.5% for the past 3 years and as a result consumer confidence has been sustained near 10%. Recently, Capital Gains Tax has been abolished in Malaysia, down from 30%, further bolstering the attractiveness of the market for local as well as foreign investors.

Location

The central district for business and pleasure, KLCC as it is commonly known is the traditional centre for multi-national business and tourism, and with the majority of 5 and 6-star hotels in the area, this downtown spot offers everything for businessmen and tourists alike. With bountiful restaurants, shopping malls, and beautiful green parks, KLCC is the jewel of Kuala Lumpur. With the booming Malaysian economy and rapidly urbanising population, city centre demand is high and yields and appreciation are set to follow. KL itself is in a prime location for this growth, situated within 5 hours of 60% of the world’s population and being home to the world’s longest fully automated light rail transit system.

The Properties

Situated in the sought after location of Jalan Sultan Ismail, the Crest development is designed to attract the ever increasing young professional market in Kuala Lumpur City Centre. Crest is within a short walking distance of the light rail and monorail systems and centrally located for all of the shopping and entertainment facilities the city has to offer, including the famous Bintang Walk. With luxurious amenities befitting the prestigious address, The Crest gives investors an investment that will be desirable to all locals and visitors. Mortgages are available (70%<85%)>

Amenities

• Swimming Pool
• Gym & Sauna
• Cafés and Restaurants
• Parking
• Children’s Playground
• Nursery
• Landscaped Gardens

Payment Schedule

1-bed apartments (616 sqft) from MYR 588,280 (~£85,000)
2-bed apartments (835 sqft) from MYR 722,375 (~£111,000)
3-bed apartments (616 sqft) from MYR 1,121,718 (~£162,000)

• Reservation deposit of 2% of the total purchase price
• 18% upon signing the SPA within 40 days of signing the reservation agreement
• 10% once SPA is signed and returned
• Many small scheduled payments until completion in 2010

Property Insight - Suria Stonor Kuala Lumpur

Suria Stonor, the luxurious condos developed to offer a pleasant and enjoyable stay in the heart of the city Kuala Lumpur. So far, there are still some units available for sale for Residential Type A, Duplex, Penthouse A and Penthouse B.

Suria Stonor from the view of KL Traders:

SURIA STONOR

In the heart of the city, just around the corner from Petronas Twin Towers, there is an oasis of serenity -- where quiet streets are shaded by ancient trees. Where airy bungalows once offered refuge from an uncertain world and even more uncertain climate. Where the air is rich with the grace and elegance of a bygone era. Where Suria Stonor will stand - inspired by the timeless tranquillity unique to this exclusive enclave - fulfilling a renewed desire for sanctuary amidst the hustle and bustle of the city. Suria Stonor offers some of the most generous living spaces in the Stonor Enclave, one of the city's most desirable addresses. Each of its 138 freehold residences, comprising penthouses, duplexes and apartments, offers a built-up that ranges from 3,000 sq.ft to over 8,500 sq.ft. Come home to Suria Stonor and come home to the best of all possible worlds.

Residents' Privileges
At Suria Stonor, you will enjoy a comprehensive range of services and facilities that includes state-of - the -art, round-the clock security, a resourceful conceirge and car velet services. Our priority is your convenience and piece of mind. Extensive soft & hard landscape gardens. 100 feet semi-cantilevered main pool. Lounge pool. children's pool. Sun deck. Sauna and steam room. Full glass gymnasium overlooking main pool. Multi purpose hall. Convenience store. Children's playground. Barbecue facilities. Guest apartment. In addition, for the convenience of residents we have included : Private lift lobby to each residence. Waiting lounge in each wing. Separate guest lift. Minimum three parking bays for each residence. Additional storage at car park area ( optional ).

Suria Stonor from the view of Godarths:

At the heart of Malaysia, located in booming Kuala Lumpur, the ultra-posh new Suria Stonor development promises to provide all the soothing comforts of home just next to, but never disturbed by, the bustling capital city. Nestled peacefully within the exclusive Stonor enclave, within a stone's throw of the world-famous Petronas Towers, Suria Stonor is a luxurious sanctuary made up of spacious, superbly-outfitted freehold residences complete with all the conveniences expected of a world-class development.

A concierge service, valet parking, as well as full health club-style facilities help make this KL's most desirable address. There is a 100-foot semi-cantilevered main swimming pool, a lounge pool, a full gymnasium, private lift lobbies for each residence, as well as separate lifts for guests. In anticipation of the well-heeled residents' needs, each unit is allocated a minimum of three parking bays each.

Inside, the fittings are top-class designer amenities, with built-in jacuzzis in each unit, fine timber and marble on the floors, as well as indoor water features in some units, all of which have uncommonly high ceilings. The list does not end there, however, as every modern convenience has been provided for.

The Suria Stonor promises the best of modern luxury living in one of the world's most exciting cities. If the gallery we have compiled for you leaves you wanting more, feel free to look at the development's website.

Enjoy the insights from both parties!!!

Property Blog - Suria Stonor Kuala Lumpur

Suria Stonor, the new development in Kuala Lumpur has been very hot in the market now. This property is located in the heart of the city Kuala Lumpur with walking distance to Vietnam and Pakistan Embassy. In addition, Japanese Embassy is just approximately 3 minutes drive to Suria Stonor.

The Property Malaysia Blog has an article about Suria Stonor:

August 28, 2005

Suria Stonor, KL

This is the new addition to the growing number of ‘KLCC condominiums’, developed by the Glomac group of companies.

It is situated in what they term as the ‘Stonor enclave’ which is a secluded area on Persiaran Stonor (linking Jalan Binjai and Jalan Tun Razak), surrounded by colonial bungalows and the Vietnamese embassy. The site is fairly large compared to the other condos, they are able to fit two large towers instead of the usual single block. In terms of location, it can be said to be quite good, in a less congested area of the KLCC development area, with two choices of access road, but ultimately people who would buy a KLCC condo are most likely to be fully aware of the problems and perks.

As for the view, in our opinion nearby Binjai (by KLCC Properties) and Stonor Park (by Benetton Properties) partially obscures the view of the Twin Towers, and maybe as such they have chosen not to emphasize too much on the ‘KLCC view’ angle. They market it as ‘city view’ for one side of the towers and for the other side, ‘Golf view’ (referring to the Royal Selangor Golf Club).

There are 3 types of units for sale here – single units, one type of duplex and penthouses (only 4 units available). The single units constitute about three-fourths of the units availability, and are actually 2 different layouts, each with 3 sub-variants.

The Suria Stonor basically targets the families buying to stay, be it locals or expatriates. Therefore, they put some thought into the design and layout to express this intent, with larger units (minimum is 3,106sq.ft.), garden / water feature / planting area in foyer and balconies, good number of rooms (we’ll come to that later), and spacious areas all round.

For the single units (which they call residential type) they have a choice of 3+1 or 4+1 rooms. But for the 4+1 version (3,264sq.ft.), they have an additional AV room which can easily be converted to another room, equipped with its own attached bathroom and study. The master bedroom is luxuriously large, with an impressive walk in closet and bathroom equipped with Jacuzzi. The other rooms are also generously large, no complaints here. Even the living and dining are spacious, the visitor is greeted with a good impression when he/she first steps in.

The smaller unit 3+1 version (3,106sq.ft.) is also very spacious (this theme is pleasantly evidently throughout). However, there is no convertible AV room here. But we did find the Asian / wet kitchen a bit small and narrow, this may be alright for the ‘microwave’ generation, but maybe not for the large Asian family.

For the duplex unit (5,447sq.ft.), it is nothing short of breathtaking. The entire living and dining is double volume, with generous full height glass windows, which gives a brilliance in design a few other developments can match. The higher floor has a safe, tempered glass railing, in fact all the units have big glass windows to allow natural light while giving a good view. The duplex unit has 5+1 rooms, including 2 master bedrooms (equally large) and one with is the above mentioned convertible AV room + study / bedroom. The main master bedroom has an interesting open air shower, we’re not sure how many buyers would go for this idea!

Again, the Asian is small, and there are 5 areas that can be used as a private garden or water feature. This is basically in line with their ‘garden in the sky’ concept.

The common facilities are basically average, with the basic pool, gym and playground and function halls. We also like the idea that ample parking is provided for each unit, in contrast to some developments that provide only one bay per unit.

All units come with fit out toilets (including shower screen) and master bedroom has wardrobes installed. For the other rooms and kitchen, the space for wardrobes are nicely prepared. Units also have a private lift lobby as a boon for the budding interior designer in us. All units also have an uncommonly high 13’ ceiling. The price is also reasonable beginning at RM750psf., which means the lowest unit going at about RM1.7mil.

In conclusion, you can gather that we were impressed by the layout, design features and large spaces. Lack of view and common facilities may influence some buyers, but we feel this is a worthy consideration in the competitive KLCC condo market.

Project Name	Suria Stonor
Location	Persiaran Stonor, KLCC area, Kuala Lumpur
Description	23-storey twin block condo
Price	from RM1.7mil (from about RM750psf.)
Unit size	3,106 to 3,264sq.ft. duplex units 5,447sq.ft penthouse units also available
No of units	138 units
Type of development	Residential Apartments on freehold land
Launch Date	currently available
Expected Completion	mid 2008
Developer	Glomac Regal Sdn. Bhd.
Contact	03 – 7804 6160
Website	http://www.suriastonor.com/html/suria.html

Unfortunately, the website provided above cannot be accessed.

Property News Binjai Residency - Lure of the Binjai

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.

Property Blog - Binjai Residency Kuala Lumpur

There is an article about Binjai Residency way back in 2005 where Binjai Residency is still under development. Binjai Residency has been handed over November 2007 and since then residents are now starting to move in. A very pleasant residential area with all necessary facilities. Below is the article posted in Property Malaysia:

August 25, 2005

The Binjai Residency, Ampang

This project was launched sometime towards the end of last year, we visited them while they were promoting in nearby Nikko hotel. Last week, while we were in the area, we dropped by again to check them out for this website. First off, it is commonly mistaken with the nearby Binjai by KLCCP.

The building is right smack in the centre of KLCC condo central. It’s surrounded by Nikko Hotel/Menara Citibank, Wisma MCA, Menara TR, the recently launched Troika (by BRDB) and the existing Corinthians & Suitestay apartment. Access is via a narrow road off Jalan Binjai that ends directly at the Binjai Residency.

The layout of the units are typical for all levels, there are four identical units per floor. Each unit is about 2,000 to 2,200sq.ft. depending on the unit orientation. On the 24th up till the 29th floor, the units are slightly bigger (2,326sq.ft.) due to a cantilevered overhang, which give the façade of the building a slightly top heavy, not-so-prismatic look.

The ground until the 4th floor is for parking, and the common facilities are at the 5th floor. They have a large pool, pool deck lounge and severy, childcare centre, laundry, multi-purpose hall gymnasium, etc.

There isn’t much to fault the location, being a KLCC condo and all. It’s just walking distance to the Ampang Park LRT station, and the taxi stand at the Nikko Hotel. And there’s the KLCC thing. And shopping. And access to the golden triangle, and the works.

And so we come the view, the so-called ‘selling point’ of most KLCC condos. Being clustered together with a few other high-rise buildings, they have cleverly marketed the apartments with a choice of two views, ‘KLCC view’ (a pretty good view… for the moment), and a ‘Nikko Hotel pool view’ at the other side of the condo. Why people would be greatly attracted to looking at a hotel pool is still debatable at the moment. But the management should be commended in coming up with a strategy to make the most of what their project can offer.

At the time we viewed it last week, both sides of the apartment were selling quite well. In our opinion, one of the biggest advantage of the Binjai Residency is its excellent location, at a reasonable price. Averaging at RM700psf, it is not too extravagant, while offering no less facilities and luxuries than the other nearby condos. The prices of below RM1.0mil to RM1.8mil is decidedly attractive to the local and foreigner buyer.

Now, for some drawbacks. Each unit has only one parking lot allocated for standard units, and more are available for sale. In total, there are 200 bays only, which comes out to less than 2 bays per unit. With families and tenants having 2 or 3 cars these days, what we’ll have at the end of the day is cars parked on the already narrow and congested access road and Jalan Binjai. Already Jalan Binjai is always jammed up with double parking at peak hours due to the LRT station, Citibank and Lotus Restaurant. This may be a cause of concern for the potential buyer.

With all units being almost standard, there is really not much choice, unless you’re going for the penthouse. The internal layout of the standard unit gave us the feeling of being cramped, but it was due mainly due to the wall configuration. Furthermore, the living room is small, with an additional ‘AV room’. We suspect most buyers would want to remove the AV room to get a bigger living/dining. The powder room would most probably go, too. The layout also struck us as traditional, too, rather rectangular-ish compared to others around.

In conclusion, we liked this place. It’s suitable for families and investors, and jetsetting yuppies. It doesn’t have the frills and extravagant luxuries of other nearby more condos, but its reasonable pricing works to its advantage. So, do you prefer the ‘KLCC view’ or ‘Nikko Hotel view’, sir?

Project Name	Binjai Residency
Location	Ampang, Kuala Lumpur
Description	32-storey serviced apartments
Price	from about RM650 to RM750psf.
Unit size	2,096sq.ft. to 2,326sq.ft. (penthouse 5,940-6,557sq.ft.)
No of units	100 units (4 units of penthouse)
Type of development	Serviced Apartments on freehold land
Launch Date	Oct ’04, currently available
Expected Completion	end 2007
Developer	Amity Binjai Sdn. Bhd. (subsidiary of Amity Property Group)
Contact	03 – 7803 5555 (Sole Marketing Agent)
Website	www.amity.com.my

Property News: Times Square Urban icon

Times Square is the largest shopping mall with first of its kind 3D theatre in Malaysia with 10-storey of shopping lots. Above it is the Berjaya Times Square hotel with about 610 rooms and serviced suites with the same layout as the hotel.

The following article is published by Property Times about Times Square:

Urban icon

Come October, Kuala Lumpur will have its very own “Times Square”, placing it in the league of other major cities such as New York, Hong Kong, Japan, Shanghai, and Taipei.

The Times Square developments in all these cities share one common identity - they promise the glitter and glamour of shopping, entertainment, amusement, food and luxury accommodation in one central location.

And this is the very essence of what the Berjaya Group aspires to create on its 12.7-acre site located at the Jalan Imbi-Jalan Pudu intersection in Kuala Lumpur’s central business district.

Shopping landmark
Grossing 2.1 million square feet of retail space anchored by two department stores and occupied by another 900 retail outlets, Berjaya Times Square in KL will connect the dots between the popular Bukit Bintang shopping area and the renowned “Chinatown” district in Petaling Street.

The development has the advantage of being directly linked to the Imbi station of the intra-city Monorail system via a fully covered corridor that leads out to its first floor. Meanwhile, the Hang Tuah Monorail station, which interfaces with the STAR-LRT line’s station on the same road, is a mere five-minute walk away.

Berjaya Times Square Sdn Bhd, the developer of Times Square, has to date pre-leased about 35 percent of the 370 retail lots it owns. This includes British department store Debenhams, which has signed up to occupy four levels in the shopping centre. Other confirmed tenants so far are international fast food chains such as McDonald’s, Kentucky Fried Chicken, Pizza Hut, Kenny Rogers Roasters, as well as an array of local eateries. These restaurants, cafes, bistros and bars will line Times Square’s Imbi Broadway, which has been designed to connect to Bintang Walk.

Perhaps the ultimate highlights Times Square intends to roll out are its IMAX 3D & 2D theatre which will be the first of its kind in Malaysia; a 380,000sq ft Indoor Theme Park (Asia’s largest); a 200,000sq ft Extreme Sports Arena; and a 56-lane bowling centre (again the largest in the country) with eight lanes reserved for hosting private parties.

The developer is counting on the centre’s location, concept, and most of all, its sheer size and variety of shopping and entertainment offerings in its quest to achieve the status of a shopping landmark comparable in standing to Times Square New York, Hong Kong, and Japan.

But the impact Times Square KL will have on the Malaysian community will probably be more far-reaching than this, just as Times Square in New York had on the city.

Revival
New York’s Times Square has successfully attracted high-credit tenants to Class A buildings, whether office, residential, hotel, or mixed-use. In the neighbourhood alone, there is 21 million square feet of office space with more than two million square feet under construction, and over 13,000 hotel rooms - one-fifth of the total in the city. There are also 27,000 residents and more than 250 restaurants.

The area is now a revival of what it once was in the early 20th century - the home of numerous theatres and stages. Today, there are 40 theatres in all, including 22 landmark Broadway theatres and the Ford Centre for the Performing Arts. In the 2000/2001 season alone, a record 11.9 million Broadway tickets were sold!

At one time a haven for prostitution and drug dealing, with streets lined by X-rated movie theatres and storefronts filled with pornographic ware, Times Square has now become a desirable locale for New Yorkers. Its bright lights continue to define its image and camera-toting tourists have replaced the former backdrop of prostitutes and drug dealers.

Perhaps, Times Square KL could in time contribute as substantially to KL’s renaissance as Times Square New York has done for the Big Apple.

Property News - 10 Most Expensive Condominium Developments in Kuala Lumpur

In 20th Aug 2007, Overseas Property Mall has reviewed about the 10 most expensive Condos in Kuala Lumpur, Malaysia after the published of 10 most expensive condos from the Star Online:

Monday, August 20th, 2007 Posted by Overseas Property Mall.

^{Kuala Lumpur Skyline [photo credits to Christopher Chan on flickr]}

The Star (Malaysia) recently published an article titled Kuala Lumpur’s 10 most expensive condos. The article revealed a list of Kuala Lumpur’s 10 most luxurious high end Condos going for a minimum of RM1000 sq/ft (£142 or US$287 sq/ft). The list however excluded the yet-to-be launched Four Seasons and Binjai developments.

We are going to shed more light on each of the 10 most expensive condo developments in Kuala Lumpur.

1. One KL
2. The Troika
3. K Residence
4. The Meritz
5. Marc Residence
6. The Avare
7. Park Seven
8. Pavilion Residence
9. Idaman Residence
10. Ampersand @ Kia Peng

1. One KL

At No. 1 is One KL with a tagline “94 apartments, 95 swimming pools”. It is a reasonably sized residential triangular tower with a minimalist architectural appeal.

Its interior conveys an aura of stylish simplicity with the economical use of living space through the brilliant use of split levels. The private swimming pools that go with each apartment can be somewhat severe at first glance, but we have to say are still very impressive on overall impression.

According to the SCDA website completion is due next year but latest information is that this will not actually be achieved until early 2009.

Developer	One KLCC Sdn Bhd (Waterfront Incubator)
Architects	SCDA Architects Pte Ltd
Location	Jalan, Pinang Opposite Mandarin Oriental Hotel
Number of Storeys	35 storeys
Completion Date	February 2009
Units	94 apartments
Unit Size (sq ft)	3,625 sq ft
Average price per sq feet at launch	RM 1200 (US$345/£175)
Average price per sq feet now	RM 2000 (US$575/£288)

^{One KL}

2. The Troika

The larger and taller Troika has a good location close to the KLCC Park and the Petronas twin towers. Apart from one of the three towers being the tallest residential development in Kuala Lumpur, other unique features include the irregular shape and the sky lobby at level 24 which links the three component structures with pedestrian bridges (nb. there will be two bridges linking the three towers forming a letter ‘c’) . There is a sizable landscaped courtyard area in the middle of the development and the three residential towers are joined together at lower levels by shops and offices. Above these at level 4 are communal recreational facilities.

The interiors will be modern with good design, clean lines and subtle colours. The building has been described as ‘twisting’ in shape (”the result of detailed analysis that identified the best possible views at every level”) but this is not apparent from the artist impressions on the Troika website. Residents on two sides really will benefit from the proximity of the KLCC Park with a bird’s eye view of the KLCC Mosque.

^{The Troika}

Website	http://www.troika.com.my/
Developer	Bandar Raya Developments Bhd (BRDB)
Architects	Fosters and Partners
Location	Jalan Ampang
Number of Storeys	3 towers - 38, 44 and 55 storeys respectively
Completion Date	2009
Apartments	164 luxury apartments, 8 penthouses and 57 SOHOs (small office/home office)
Unit size (sq ft)	2045 - 9043 sq ft
Average price per sq feet at launch	RM 920 (US$264/£133)
Average price per sq feet now	RM 1800 (US$520/£260)

^{The Troika}

3. K Residence

K Residence is the first of two of the ten developments to be linked with a shopping mall development (leaving aside the shops at Troika). Avenue K, the retail component of the development opened in 2006 and take up of retail units has been successful (FT 12^th November 2005). From the panoramic photo on the Avenue K/K Residence website the development appears to be towards the edge of the KLCC but close to the Petronas twin towers, to which it is linked by a pedestrian subway (underpass). The website description puts K Residence on leafier Jalan Ampang.

Although the external appearance seems slightly heavy compared to the Troika, the interiors look very attractive indeed. In fact the development is nearly as high as the highest of the Troika towers at 50 storeys. There are two residential towers in the development. The floor plans incorporate accommodation for a maid. The lay out of residential units can be extensively customized. The emphasis is on quality in ensuring the standard of utilities, paying attention to features such as the water pressure.

^{K Residence}

Website	http://www.kresidence.com.my/
Developer	KL Landmark Sdn Bhd
Architects	DCM
Location	Jalan Ampang
Number of Storeys	50
Completion Date	2009
Units	180 units - 2, 3, or 4 bedrooms, as well as duplex, triplex, and penthouse units
Unit Size (sq ft)	1446 - 7342 sq ft
Average price per sq feet at launch	RM 1000 (US$287/£144)
Average price per sq feet now	RM 1600 (US$460/£230)

^{K Residence}

^{Avenue K}

4. The Meritz

Like K Residence, The Meritz is also on Jalan Ampang and in close proximity to the Petronas twin towers and the Suria KLCC shopping complex (3 minutes walk to both). As with K Residence there is easy access to a light rail transit station. The development does not offer views of the KLCC area owing to an intervening office development.

The external appearance is somewhat box-like and the development is considerably smaller than K Residence. Curiously, photographs of the part-completed construction covered in green mesh from last December look more attractive than the artist’s impressions. Not all rooms seem to have natural lighting and this development does not offer the spaciousness of others.

^{The Meritz}

Developer	DNP Tanahniaga Sdn. Bhd. (subsidiary of DNP Holdings Bhd.)
Architects	Atelier Jean Nouvel
Location	Jalan Ampang
Number of Storeys	31
Completion Date	April 2008
Units	110 units (with 4 duplex penthouse)
Average price per sq feet at launch	RM 1000 (US$287/£144)
Average price per sq feet now	RM 1300 (US$373/£188)

5. Marc Residence

The Marc Service Residence has a two-acre site for its two towers and is by some margin the largest of the 10 developments. The artist’s model shows an attractive planting of trees around the first tower, presumably the slightly larger site allows for this feature. The design is fairly conventional but nevertheless elegant with a roof garden appearance(with pool) to the top of the more extensive lower floors. At street level the building features an impressive columned portico.

Although apartments have been sold individually, the developers also have plans to make part of it into serviced apartments (as the name suggests), if not an apartment hotel, so housekeeping services will be available. Given the attractiveness of the scheme, its size and the fact that completion was due this month, it is slightly surprising that Beverly Tower Development have not made more information available in terms of floor plans and ‘e-representations’ of the interiors. However, the fact that gas piping will all be made of copper suggests quality build.

Amenities include: business centre, cafeteria, club house, covered parking, gymnasium, jogging track, playground, sauna, squash court, swimming pool, wading pool and tennis court.

^{Marc Residence}

Developer	Beverly Tower Development S/B
Location	Jalan Ampang
Number of Storeys	35 Storeys (2 Towers)
Completion Date	August 2007
Units	607
Unit Size (sq ft)	600 - 2800 sq ft
Average price per sq feet at launch	RM 750 (US$215/£108)
Average price per sq feet now	RM 1200 (US$345/£173)

^{Marc Residence}

6. The Avare

The Avare is in some ways the most stylish and streamlined construction of all 10, with its design inspired by a butterfly on the wing. The architect is David John Clarke. Like Marc Service Residence the site (just over an acre) allows an attractive planting of trees around it.

Occupiers of the Avare will enjoy panoramic views of the Petronas Towers and the Royal Selangor Golf Club and the KLCC Park is also close by.

There are two large apartments to each level, each with four bedrooms, all or which will enjoy en suite bathrooms. Looking at the lay-out the only defect would seem to be rather a lot of corridor with no natural light. The website gives the impression that all the units are standard but there seems to be substantial variation in price from 3.8m ringgits to 10m (New Straits Times 12th April 2007). Does this mean that those purchasing on levels 16, 40 and 41 buy an entire floor?

^{The Avare}

Website	http://www.avare.com.my/
Developer	Magna Prima Bhd
Architects	David John Clarke
Location	Jln Kuda
Number of Storeys	41 Storey
Completion Date	November 2008
Units	78
Unit Size (sq ft)	3,800 sq ft
Average price per sq feet at launch	RM 1000 (US$287/£144)
Average price per sq feet now	RM 1200 (US$345/£173)

^{Location of the Avare}

7. Park Seven

Park Seven is not quite high rise, being a seven tower development with each reaching to 20 storeys. The site is only 1.6 acres so these blocks will be quite close together. The design is clean and simple and aims to give 270 degree views to most residents. Those on the Persiaran side of the development will have views of KLCC Park and the Petronas towers.

There is only one unit per floor per building so the layout ensures plenty of privacy. The interior design looks clean and impressive. The variety of choice in layout and size is noticeable.

The first level is described as a ‘recreation deck’ including the following: multi-purpose function rooms (presumably for hire), lap pool, heated pool, gardens with water features, gym, yoga/pilates studio, toddler’s room and children’s play area.

^{Park Seven}

Website	SDP Properties - Park Seven
Developer	SDP Properties Sdn Bhd
Architects	Heerim Architects and Planners
Location	Persiaran KLCC
Number of Storeys	20 Storey (7 Towers)
Completion Date	Q1 2008
Units	105
Unit Size (sq ft)	2,500 - 7,000 sq ft
Average price per sq feet at launch	RM 750 (US$215/£109)
Average price per sq feet now	RM 1000 (US$287/£144)

^{Park Seven}

^{Location of Park Seven}

8. Pavilion Residence

Pavilion Residence is another tall development and, after Marc Service Residence, the largest of our 10 with 368 apartments. It is the second development to have a retail element (and offices and a hotel in addition) and in all the development covers 12 acres.

The residential component comprises two towers which look a little like the Meritz (no curves) though much higher while the interiors are somewhat reminiscent of K Residence, scoring well for warmer colours and human proportions.

^{Pavilion Residence}

Website	http://www.pavilionresidences.com/
Developer	KL Pavilion Sdn Bhd
Location	Bukit Bintang
Number of Storeys	43 & 50 2 Towers
Completion Date	2008
Units	368
Unit Size (sq ft)	1234 - 7174 sq ft
Average price per sq feet at launch	RM 900 (US$258/£130)
Average price per sq feet now	RM 1000 (US$287/£144)

^{Pavilion Residence}

^{Pavilion Residence}

9. Idaman Residence

Idaman Residence is another large-ish but the size of individual units is considerably less than any of the other developments. This may work to its advantage in that it is very central but appealing to a different market from developments with larger units, who it is reasonable to expect, will be fierce competition with one another. The development is targeted at professionals between the ages of 24 and 45. along with the other nine developments it shares the easy access to work and facilities in KLCC.

Idaman has been planned to be environmentally friendly with natural ventilation in common parts and even natural ventilation features in the units themselves (though one supposes air conditioning is available also.)

Above the car parking levels there are four garden units (including larger balconies) and the penthouses on the top level include roof gardens.

^{Idaman Residence}

Website	Idaman residence website
Developer	TA Properties Sdn Bhd
Architects	T.R. Hamzah & Yeang Sdn Bhd
Location	Jalan P Ramlee
Number of Storeys	33 Storeys
Completion Date	October 2008
Units	248 units
Unit Size (sq ft)	800 - 1900 sq ft
Average price per sq feet at launch	RM 700 (US$200/£100)
Average price per sq feet now	RM 950 (US$272/£137)

^{Idaman Residence (night view)}

^{Idaman Residence}

10. Ampersand @ Kia Peng

Ampersand@Kia Peng has no claims to be high rise at all although situated half way between the KLCC Park and the Royal Selangor Gofl Club it is still very central. The development includes three blocks ranging from seven to 12 storeys. Presumably partly because the panoramic views of some of the other developments are not available, the prices for Ampersand are more reasonable than those of some competing developments. The development takes up just over two acres.

The interiors look modern, well-proportioned and simple. There is a swimming pool at ground level and enough space for a small amount of landscaping. The neighbourhood has a leafy appearance but no one will be very far away from the street.

^{Ampersand@Kia Peng}

Website	http://www.ampersand.com.my/
Developer	IJM Properties Sdn Bhd.
Location	Jalan Kia Peng
Number of Storeys	9 Storeys (4 Blocks)
Units	71
Unit Size (sq ft)	2,613 - 5,852 sq ft
Average price per sq feet at launch	RM 860 (US$247/£124)
Average price per sq feet now	RM 900 (US$258/£130)

Property News: KL’s 10 Most Expensive Condos

From the Star Online, the expensive condos are listed below:

Sunday July 29, 2007

KL’s 10 Most Expensive Condos

Excitement in the property sector over the spiralling condominium and land prices in the Kuala Lumpur City Centre (KLCC) area over the last four months, seems to be gaining greater momentum. What's happening to the prices?

Which single condominium development in Kuala Lumpur is considered to be the priciest in Malaysia? The dust hasn’t settled on this issue as two purported contenders for the title have yet to be launched.

According to KL property experts, based on current prices, the 10 most expensive condominium developments (please refer to Table A below) are all sited in the Kuala Lumpur City Centre (KLCC) area with the exception of Pavilion Residence in Bukit Bintang, which is still quite close by. However, if the yet-to-be launched Four Seasons and The Binjai developments were to be taken in account, those falling below RM1,000 per square foot would be out of the list, unless...

No	Project	Developer	Location	Ave price per sq ft at launch	Ave price per sq ft	Units	Storeys	Unit Size (sq ft)	Land Use	Launched
1	One KL	One KLCC Sdn Bhd	Jalan Pinang	1,200	2,000	94	35	3,625	Commercial	4th Quarter 2005
2	The Troika	BRDB	Jalan Binjai	920	1,800	164	37, 43, 50 (3 Towers)	2,045 - 9,043	Commercial	1st Quarter 2005
3	K Residence	Olympia Industries Bhd	Jalan Ampang	1,000	1,600	188	50	1,446 - 7,342	Commercial	January 2007
4	The Meritz	DNP Tanahniaga Sdn Bhd	Jalan Mayang	1,000	1,300	110	31	1,076 - 3412	Commercial	April 2005
5	Marc Residence	Beverly Tower Development S/B	Jalan Pinang	750	1,200	607	35 (2 towers)	600 - 2,800	Commercial	Oct 07
6	The Avare	Magna Prima Bhd	Jln Kuda	1,000	1,200	78	41 storey	3,800	Commercial	April 2005
7	Park Seven	SDP Properties Sdn Bhd	Persiaran KLCC	750	1,000	105	20 storey (7 towers)	2,500 - 7,000	Residential	December 2004
8	Pavilion Residence	KL Pavilion Sdn Bhd	Bukit Bintang	900	1,000	368	43 & 50 (2 towers)	1,234 - 7,174	Commercial	Early 2006
9	Idaman Residence	TA Enterprise	Jalan P.Ramlee	700	950	248	33	800 - 1,900	Residential / Commercial	2nd Quarter 2005
10	Ampersand @ Kia Peng	IJM Properties Sdn Bhd	Jalan Kia Peng	800	920	71	10 (3 blocks)	2,613 - 5,852	Residential	1st Quarter 2007

But the “asking price” and “transacted price” may not necessarily match. Currently, the costliest average price per square foot has been transacted at RM2,000 for the One KL project. This development is noted for its marketing strategy of one swimming pool on every floor. The tower has 35 levels.

Developers who launched their condominium projects earlier, are now frantically revising their pricing policy for their remaining units. And those who have yet to launch, are now trying to push the limits.

But all eyes are trained on The Binjai and the Four Seasons projects – touted to fetch more than the current benchmark of RM2,000 per square foot. The Binjai management purportedly “screens” prospective buyers and even require an interview. The show house has long been off-limits even to ordinary tycoons.

Cheapest

Foreign as well as local interest in Kuala Lumpur’s luxury condominium developments seem to have been spurred by the Government’s relaxation of residential ownership rules for foreigners and the waiver of real property gains tax (RPGT) recently. And what’s happening in Singapore’s high-end condominium property market is having an effect on KL.

At the 2004 press conference to announce The Binjai: (L-R) Jones Lang Wootton senior vice-president Rohan Padmanathan together with KLCCH director and group chief executive officer Datuk Ishak Imam Abas architect David Whitfield of Allen Jack + Cottier.

And high-end properties in KL’s prime residential locations are considered to be the cheapest in the region. This has given rise to the rare phenomenon of residential property fetching even higher rentals than office property in KL. For example, the office rental rate at the UOA building in Jalan Pinang was recently transacted at RM3.80 per sq ft while a tenant at 3 Kia Peng condominium is in negotiations to renew his tenancy for RM4.50 per sq ft.

Demand for the “best” condo-developments is at an all-time high with record-breaking prices per square foot quoted – even for land in the KLCC area. For instance, the plot of land occupied by the Hakka Restaurant at Jalan Kia Peng was reportedly sold via tender for over RM1,300 per square foot recently – a record price.

And what do our local market experts have to say about such transactions and dizzying prices, notwithstanding the recent dip in the stock market.

Chan gets all excited when talking about high-end properties

Epicentre

S.K. Brothers Realty (M) Sdn Bhd general manager Chan Ai Cheng gets all excited when talking about her favourite subject, high-end properties.

“I love properties and when I go into a luxurious show unit, I get all excited. And when the sales agents take a look at my face, they think they have a sale!” says the property consultant.

But don’t let her pretty looks fool anyone, as this lady is a tough customer who knows all the in’s and out’s of a favourable or unfavourable property.

She can easily judge how much yield the property will likely generate or the percentage of capital appreciation in the shortest possible time.

Says Chan: “Technically, all KLCC condominium developments are considered to be high-end properties in terms of price and quality. Super-condos – as opposed to high-end condos – are merely super “big” in terms of size alone.

Carmen Chua, eldest daughter of tycoon Datuk Chua Ma Yu, credits her father for the opportunity to work on One KL. The condo development is currently the costliest based on average price per sq ft.

“The pricing structure of high-end KLCC condos will depend on whether they are located within the first tier or second tier of land.”

The Petronas Twin Towers are regarded as the epicentre of the KLCC area, with the surrounding lands viewed in terms of concentric bands with the first tier being closest to the towers.

For example, the first-tier condo-developments will include projects like One KL and K Residence and the second-tier will include Hampshire Park, The Meritz and Cendana.

Property agents look at the desirability of condo developments based on various factors depending on the targeted tenants for the units to be rented or leased out.

Close View: Like many of the condominium developments that have a direct view of the Petronas Twin Towers, K Residence condo prices seem to be on a continuous upward trend.

The development must be easily accessible and the type of neighbourhood should suit the targeted tenants. Does the neighbourhood offer a ready catchment of tenants such as expatriates?

If the targeted tenant is the young and happening type of expatriates instead of family-oriented expatriates, then the condo-development should be near the bars and entertainment areas.

Land status is very important. If the development is on commercial land instead of residential land, then the rental yield will be affected by the commercial rate for quit rent and utility bills. For example, your monthly electricity and water bills will be charged the commercial rate.

The track record of the developer is equally significant. Certain established developers like Tan & Tan have their own following. These repeat buyers will buy anything they build, explains Chan.

Branded Properties

Unlike the old days, developers now will usually have done all the study they need to formulate their pricing policy. They would price their property at what the market needs now.

The Avare, touted to be a "6-star" condo development.

But buyers ought to be aware that if a developer were to build all the condo units in the same size, you will have a tough time renting out your particular unit. You will be competing with many other owners trying to rent out their units.

Also, the team of consultants engaged for the project is important. Buyers generally like “branded” properties. For instance, the Troika developers have engaged Foster and Partners and astute buyers are confident that with such a prestigious architectural firm, the condo design won’t be easily “outdated”.

Buyers of high-end condos who wish to rent out their units have to understand the expatriate rental scale. For instance, a multi-national executive transferred to KL may only have a monthly rental budget of RM5,000 and ambassadors may have an average of RM15,000. So, if you wish to rent out at RM20,000 a month, you are looking at a tenant in the top position in a multi-national! The question you must ask is who is going to be your tenant?

Is the KLCC area already staturated with high-end condo developments?

KLCC is the heart of the real estate market, and the prime property hot-spot of the nation, says Chan.

“Any city in the world – such as Bangkok, Singapore and Shanghai – have their own renowned residential enclaves. Think of Hyde Park in London and Central Park in New York. This is the best address in Malaysia!

“KLCC looks like it is saturated because of the timing of the launches – one after another. But the fact is, land is scarce.”

Most beautiful

Some projects cater to the different needs of buyers. Some buyers want good views while others prefer convenience and proximity to entertainment centres.

So when you invest in a KLCC condo, you must know the type of tenant you are targeting.

For instance, The Binjai is touted to have the most beautiful view of the KLCC Park and the Petronas Twin Towers.

Initially when it opened for registration, the price per sq ft was supposed to be RM700-RM800. The indicative price has far exceeded that today.

The other highly anticipated launch, is the Four Seasons mixed development project, sited next to Menara Maxis.

Whether a condo-development qualifies to be “high-end” depends on various factors such as:

· Price

· Location

· Large built-up and mega-size units

· Quality of the finishing

· Façade

· Grand entrance statement

· Design

· Posh Feel

· Grandeur

· Feeling of having arrived

· Royal ambience

· Views

· Height

Capital Appreciation

What should a buyer be aware, when buying a high-end condo especially in the KLCC area? Chan cites the following guideline:

· Timing of entry into a project

· Design and sizes of units

· Packaging

· Car Park allocation

Explains Chan: “If you were to buy into a project early, certain developers offer ‘early bird special’ price or an easy-to-own package deal including the 10:90 variant. This means that you pay only 10 per cent down payment and nothing more until the project is ready. You will save on interest costs. By the time the project is ready and you can rent out the condo unit and use the rental to pay your bank loan installments.

“The condo layout must be practical and there should be a variety of built-up sizes available, so that you won’t be competing with other owners if all your units are of the same size. For instance, the Idaman Residence project offers sizes of 800sq ft, 1,000sq ft, 1,500sg ft, 1,700sq ft and 2,100sq ft. Here the segregation of types is very distinct for the purpose of renting out.”

A buyer must also consider how much more capital appreciation can the property gain.

“At what entry level are you going in? If I were to buy at say RM1,000 per square foot, what’s the likelihood of the price moving upwards? What are the neighbouring launches selling at? Are they priced higher? Don’t get carried away with the show unit which is designed to seduce the prospective buyer.”

Chan highlights key features in selected condominium projects that has made the developments popular:

· Idaman Residence – choice of units with not many competing types within the development

· One KL – each unit comes with a swimming pool

· Cendana – tie-up with Renaissance Hotel KL & most buyers are repeat Tan & Tan Bhd customers

· Marc Residence & K Residence – proximity to KLCC

· The Troika – designed by Foster & Partners architectural firm headed by multiple award-winning Lord Norman Foster

· The Avare – Unique external façade of a glass-curtain walling

· Pavilion Residence – mixed-development concept

· Watch out for the Four Seasons and The Binjai.

Evaluation

But in assessing these condo-developments as a good real estate investment, one must evaluate them based on:

· Location

· Accessibility

· Neighbourhood

· Land Tenure – Freehold/Leasehold

· Land Status – Residential/Commercial

· Developer’s track record – Branding

· Team of consultants

· Unique feature

· Finishing

· Packaging

· Maintenance charges

· Car park facility

· Choice of Units (Range of built-up sizes)

· Timing of Purchase

· Layout

· Pricing – Capital appreciation and rental returns

A developer may price his or her development very high but pricing alone does not necessarily reflect nor guarantee a luxurious development. An unfortunate fact of local property development is that what you see in the show unit may not necessarily be what you get. Defects and flaws are common place.

Luxury condo-developments in other parts of KL – as listed in Table B below – may not be quite as expensive as those in the KLCC area but prices are coming “pretty close”, says Chan.

* Please see related article Lure of KLCC condos.

Development Site Project Name	Cost per square foot	Built-up space in sq ft	Total units
Bukit Tunku Tijani	RM850	1,923 - 3,798	112
Bangsar One Merenung Zehn Bukit Pantai	RM850 RM620	3,200 - 5,000 2,476 - 3,380	229 187
Mont' Kiara Seni Verve MK10	RM675 RM650(furnished) RM550	2,336 - 3,520 633 - 2,659 3,478 - 4,090	605 881 322
Damansara Heights Clearwater Residence	RM660	800 - 4,000	108
Mines Resort City The Heritage South Lake	RM700	480 - 1,513	154