Sri Penaga is one of the earliest condominiums in Bukit Bandaraya, Bangsar. It is positioned just opposite of Bangsar Shopping Complex at the junction of Jalan Maarof and Jalan Penaga. It comprises two tower blocks with a row of low rise townhouses and pool area in between. There are a total of 304 units with 13 different sizes to choose from.
There are plenty of amenities available within short distance from Sri Penaga. Just across the street, you can reach Bangsar Shopping Centre, a favorite spot for expatriates to hang out with friends and family. There are several fancy cafes and eateries in the centre such as Alexis, Grand Imperial, Dome Cafe and La Bodega.
One can also take a short trip to several other prime shopping malls like Mid Valley Megamall, The Gardens, 1-Utama Shopping Centre, Bangsar Village and The Curve. In addition, Telawi street is within minutes from the condominium. There are plenty of bars, restaurants, pubs, book stores, banks, and clothing boutiques nestled in the centre.
In terms of accessibility, there are a number of highways adjacent to Sri Penaga, including SPRINT Highway, Federal Highway, New Pantai Expressway (NPE) and Penchala Link. You can reach Damansara Heights within 5 minutes, Kuala Lumpur city centre within 15 minutes, Damansara Utama within 5 minutes and Sunway within 10 minutes if the road is clear.
Bandar Raya Developments Berhad (BRDB) is best known for Bangsar developments. The company is behind most of the residential as well as commercial developments in the whole Bangsar vicinity. This renowned company also ventures in other developments in Kuala Lumpur, Permas Jaya in Johor as well as a 400 acres high end mixed development in Lahore, Pakistan. Currently, it is developing the iconic Foster & Partners designed The Troika, located meters away from Petronas Twin Towers in the heart of the city.
Even though Sri Penaga is already a decade of age, it is very well maintain by Azmi & Co and its security is reasonably good. Perhaps, this is because of the strong resident association and also Azmi & Co credibility in building management.
Besides that, even after several new residential launches in Bangsar, such as Bangsar Peak and One Menerung, which foresee most residential prices have decreased, Sri Penaga price keeps heading north. This portrays the strong demand possessed by Sri Penaga despite of new launches. Most claimed that this scenario is because, expatriates would prefer to live together with their expatriate families and friends, which Sri Penaga is mostly occupied by this group of people.
Sri Penaga is a favorite residential among expatriates against other condominiums in the same league like Cascadium, Sri Wangsaria, Contessa and Bayu Angkasa. Cascadium is cheaper but costs higher maintenance fee. Sri Wangsaria has very low ceiling that makes it looks a little bit cramp. Meanwhile, Contessa is a low density development, thus its maintenance is quite high. As for Bayu Angkasa, many units have leakage problem.
Not only that, Sri Penaga is preferred due to its close proximity to Bangsar Shopping Centre. Between all these residential, it is believed that Sri Penaga possesses the strongest rental liquidity even though it is tagged at highest rental rate. This explains why its subsale price tops against others within its same league.
In terms of investment, if Bangsar is really your cup of tea, then Sri Penaga should top your investment portfolio option. But bear in mind that this is a hot property in Bangsar, thus you might have problem to find units for sale, unless you are willing to pay a premium to get a unit. As the world is currently suffering global economic downturn, there is a slight chance that Sri Penaga price will fall due to shortage of demand by expatriates. If this really happens, take out your cheque, and own a Sri Penaga unit.
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