Pelangi Damansara is a 19-storey condominium project located in the most sought-after Damansara neighborhood of Bandar Utama. The condominium is located on 13.5 acres of development land at Kampung Sungai Kayu Ara. The condominium was completed in year 2004. It is a leasehold property developed by Metro Kajang Holdings.
Amenities wise, Pelangi Utama comes up top again as there are prominent shopping complexes such as One Utama, Ikea, Tesco, Ikano Power Center, and Center Point all within walking distance; if not a short drive.
In terms of location, Pelangi Utama is situated on prime land. The BU address is much sought after as it is considered both a high-end address and accessibility to all major roads and even highways is excellent. The condominium is easily accessible to Lebuhraya Damansara Puchong (LDP), Jalan Damansara, Lebuhraya Lembah Klang (NKVE), and Penchala Link.
Metro Kajang Holdings is a public listed company principally involved in property development, hospitality services, investment holding and furniture manufacturing. It has completed over 19,000 units of properties and is well known as a reputable property developer, especially in Kajang. In addition, the group also operates a hotel (Prescott Metro Inn) and 2 shopping complexes (Plaza Metro Kajang and Metro Point Complex) in Kajang town itself.
Price wise, Pelangi Damansara was launched at RM190 psf, which is relatively affordable compared to nearby developments. At present the average selling price is RM227 psf and for rental RM1.90 psf. With regards to internal finishes, there is nothing to boast, in fact there have been some complaints with regards to quality of finishes as the developer undertakes contracting work via their subsidiaries.
Facilities at Pelangi Damansara are pretty standard and nothing to shout about. There is a swimming and wadding pool, gymnasium, sauna, cafeteria, children’s playground, multi-purpose hall and 24 hour security system. The unit’s layouts are relatively standard as well.
Most of the tenants in Pelangi Utama are professional staffs from KPMG and IBM multi-national company that located near to One Utama. Hence it will be a good piece of investment for renting out to tenant who want to stay nearer to their office in order to avoid congested traffic in LDP highway that widely use to enter into Bandar Utama area.
Each of the blocks are twin-winged, with a total of 12 units per floor. There are three unit types at Pelangi Damansara; 920 sf, 1,000 sf and 1,137 sf. All have 3 bedrooms each with at least one balcony. Type A comes with a large master bedroom along with a large balcony and yard.
For an earlier phase of this launch Pelangi Utama 1, there were three blocks sold off in 2004. For the next phase Pelangi Utama 2 completed in 2006, all blocks were sold off and now are available only via sub-sale. The high demand clearly indicates the prime location of this development. It terms of location, Pelangi Utama is top notch investment.
One drawback is the limited parking space available for residents forcing them to park outside the condominium. Each resident is allocated 1 parking lot and to purchase another one costs RM150/month. And even then it is subject to a drawing of lots since there are only 10 units pf parking lots left.
Parking outside Pelangi Damansara is not only inconvenient, but of late residents have been receiving summonses from the local MBPJ (Petaling Jaya City Council) authority for unauthorized parking. Residents are also concerned with safety issues when parking outside the condominium. So far nothing has been done to resolve this lack of parking space and residents are working with the joint management body (JMB) through committee meetings to come up with a solution.
Another drawback is Pelangi Damansara is being rented out to students of KDU due to its affordable pricing and strategic location. Needless to say, students are seldom considered desirable home occupants as they can tend to be careless and unconcerned with keeping the condominium a clean and safe home to live. Most of these students rent these places out for the duration of their studies and can be a noisy vandalizing group of kids.
Due to security concern in recently, the management starts to impose charges for visitor-carpark in all the blocks, charging RM5 from Mon-Thurs and RM10 for weekends and public holiday, in order to prevent unnecessary visitors. CCTV & emergency intercom also installed in car parking basement level, but management did not increase any maintenance fees.
If you are looking for investment, Pelangi Utama is definitely a good piece of investment because of its location. The drawbacks are clear, but if it is just as an investment property, then it is a go. For own stay you may want to reconsider the current problems being faced by residents.