Happy New Year to all the readers and we have been without any reviews for the past few weeks due to own schedule and commitment. Nevertheless our passion is still staying and we start the year with review in property that launched in MK recently.
Mont Kiara the address that as an expatriate enclave used to be the darling among property investors. Alongside Bangsar, KLCC, Damansara etc., Mont Kiara is one of the ultimate address that desired by most investors due to reasonable good yield, good tenant profile and it strategic location. Therefore to tap into the demand from these investors , many developers (aside Sunrise) jumped into bandwagon and develop the lands. They are Ireka, YNH, Sunway, BKP properties, Asiaquest and few others. Due to the uncontrollable supplies and in author opinion with the combination of the wrong product offering, MK started to lose its shine. There are too many large size units in MK10, MK11, MK28, Kiaraville, Seni Kiara, Kiaramas Danai etc. Most of the tenants have restricted budget and couldn’t afford the rents demanded by the investors. Subsequently this has depressed the prices in MK for past few years. However, this provide opportunity for purchasers who looking for property with strategy location, close to all amenities and infrastructures, school that for own use.
Until 2013 where prices are stabilized and most new launches such as Pavilion on the Hilltop and Arcoris were launches with reasonable size (not with cheaper psf!). Until now…
Symphony Life (Which was known as Bolton previously) has recently launched a new concept project in Mont Kiara. Technically the site located closer to Segambut and Jalan Kiara3 however by coincident or purpose, the road is a dead end to Jalan Kiara3 and linked directly to Jalan Duta Kiara. With this strategic move, it has brought the value of the project a few notches higher. For those who familiar with Mont Kiara property market, Jalan Kiara 3 is perceived as least desirable part of Mont Kiara due to traffic congestion, the Village which till now still unclear and the perception of Segambut. However alongside the MK Meridien, TWY is just next to the highway. The SA has assure the author that all window on the unit on the North location will be double glazed to minimize any noise impact from the highway. This is a great effort from the developer. We shall review in details later.
Below is the Wikimapia map showing the location of the TWY. In essentially it sandwiched by the NKVE on the north part and MK28 on the south part. At the East part is the MK Meridien where else on the West part is another piece of land belongs to Bolton for future development. Twy sits on a FREEHOLD 2 acres of land and with GDV of RM250million and 484units, this is a quite a high density project. This piece of land probably represent one of the very last few empty lands along the Jalan Kiara and Jalan Duta Kiara. Therefore this project location is one of the last prime available prime land.
The Map from the TWY’s official website
The map from Wikimapia
How about the façade? For those who always passing by Jalan Kuching, their latest project Arata@Tijani revealing its “purple-ish” façade. Not everybody favourite color but it represents and iconic and not so boring building along this stretches of road. How about TWY? It is quite bold with black line. When it is completed, it will be the highest building with one the wings is at 52 storeys. The building itself split to two wings like a butterfly and each wing consists of 12 units. There are 3 basement parkings and 6 levels of the elevated parking levels. There are also retails at the ground.
The East Facing
The North Facing
The South Facing
The Water Feature around the building
There are 3 standard layouts that available. They are Padulous which is 1 bedroom 662sqft, Double B which is 1+1 821sqft and the largest among all is the Glamouratti, 2 bedrooms 1385sqft. Padulous are fully booked prior to the soft launch on 18.Jan to the usual suspects as the directors, biz associates, staffs, VVIP and early birds etc. The leftover are the Double B and Glamouratti. All the units are duplex and with exception of Double B, all comes with Double Volume at Living Section. All units will come fully furnished similar to the showhouse with exception of loose decorative items, TV, washer and matrress are not provided. How about the unit layouts? One of the major grouses are with exception of Glamouratti, the ground floors are without the bathroom. Therefore the guest is expected to use the bathroom on the upper floor which they will need to passby your bedroom. Not a very ideal condition for the privacy…..
Padulous and Double B
The layouts are practical and squarish and placing of furniture can be ideally done. Double D despite the size of 821sqft only with 1+1 bedrooms and 1 bathroom. From the past experience this additional space didn’t add much value from investment as it is not a proper bedroom with a window for fresh air and sunlight as well as need to share bathroom with the master bedroom. Furthermore, Double B footprint is exactly the same with Padulous however with the Double Volume just covered. With this +1 feature, the price different is approximately RM100psf different (with Padulous more expensive).
However what attract the author most is the Glamouratti…. The space are generous and suitable for a small family. There are double volume and family area on the upper floor. The two bedrooms that are the upper floors are generous with space with proper space for the wardrobe. And the size of the ensuite master bathroom is nice with long bath. However what tick me about this layout is with some creative renovation, you can convert additional space to proper bedroom.. and maybe add another one….. Glamouratti is a practical layout with 3 bathrooms which will be required for small family.
How about the finishes and furnishing. In my opinion, the ID is good and pretty value for the money for the prices. The developer also throw in Bosch brand for the white goods such as Oven, Hood, Hob and the fridge and LG for the aircon. Also most of the items seen in the showroom is provided with exception of the small decorative loose items. Please ask the obliged SA to pinpoint which items are not provided. The wardrobe and cabinets are quite a good quality as well. One carpark is provided for below 18th floors and 2 carparks provided for level 18th and above. They are significant price jump from level 17 to 18 as well.
Double Volume on the 821sqft
Staircase to upperfloor
Bedroom on the upper floor
At the moment all the lowest floor unit which is level 7 with the living is fronting the water feature are blocked by the directors. Therefore the lowest standard available units are from level 8 and cheapest PSF was for Glamouratti which is RM838psf. RM100psf is added to Double B and another RM100psf added to Padulous. For every floor, the price increment is RM4k and the same price for North and South facing wings. There are 8% rebate + 3% for DIBS not offered. Therefore the nett price after discount is RM745psf.
Booking status on the South facing units
Booking status on the North Facing Units
The SNP is expected signing on March/April time with all legal fee absorbed by developer. The construction is expected to take 4 years. At the moment the booking fee is RM10k and if for whatever reason the purchasers didn’t go ahead, RM1k will be forfeited as administration fee. The maintenance fee at the moment is set at RM0.40psf.
What is the overall verdict. I like the access and building façade. The duplex SOHO concept is quite unique and despite not the first it provide more choices to the purchasers. unit layouts can be improvised by adding bathroom on the ground floor. The prices are quite reasonable given that Pavilion is sold from RM900psf with partial furnished and BKP sold their The Verve last block from RM1250psf fully furnished. For those who are looking for own stay, Glamouratti is quite a decent bet too look for.