Platinum Suites, KLCC

Platinum Suites is a modern residential-cum-commercial development fronting Jalan Sultan Ismail, located right next to the Renaissance Hotel. And it is just mere minutes walking distance from KLCC. It is the first exclusive project by Platinum Victory.

Platinum Suites comprises of 3 blocks of 51-storey towers on a piece of 4.75-acre freehold land. The entire development has an estimated gross development value of RM2.5 billion. It is to be developed in 3 phases: Phase 1 consists of serviced apartments, Phase 2 consists of serviced apartments with hotel management services, while the last phase, Phase 3 comprises of SOHO, SOVO and business suites.

The first tower launch is called Face Platinum Suites, a RM1 billion project (GDV). It offers a total of 733 small-sized condominiums in the 51-storey tower (8 parking floors and 42 residence floors). There are 13 different layouts to choose from and the unit sizes start from studio with 850 sf of built-up size that consists of 1 bedroom and 1 bathroom, and up to 1,500 sf. The condominium was launched from RM1,350 psf. According to the developer, all units are well equipped with premium furnishings and household appliances from beds to bookshelves and air-conditioning to microwave ovens.

This futuristic development is very well located with its close proximity to the financial district, shopping malls, hotels, entertainment hubs and even good public transportation service. In just a 15-minutes’ walk, you will be able to reach Suria KLCC, MATIC Jalan Ampang, Hard Rock Cafe, Zouk KL, Royal Danish Embassy and High Commission of the Islamic Republic of Pakistan. In terms of accessibility, you might want to forgo your car since you can travel to around Klang Valley with ease. It is just about 5 minutes’ walk to Dang Wangi Putra LRT station. Besides that, it is very easy to catch a cab right at the road side due to the fact that there are several hotels in the area.

Property Details

• Name: Platinum Towers
• Address: Jalan Sultan Ismail, 55100 Kuala Lumpur
• Developer: Platinum Victory
• Completion Date
  • Face Platinum Suites: 2015 (estimate)
• Type: Mix (Residence, Commercial Office & Hotel)
• Tenure: Freehold
• No. of Blocks: 3
• No. of Storey: 51
• No. of Units
  • Face Platinum Suites: 733
• No. of Bedrooms
  • Face Platinum Suites: 1
• No. of Bathrooms
  • Face Platinum Suites: 1
• Land Area: 4.75 acres
• Built-up
  • Face Platinum Suites: 850 sf
• Maintenance Fee
  • Face Platinum Suites: RM0.35 psf
• Launch Price
  • Face Platinum Suites: RM1,350 – RM1,500 psf

Facilities

• Sky pool
• Sky lounge
• Fitness gymnasium
• Multi-purpose hall
• Laundrette
• Café
• Convenience store
• 24/7 security with CCTV

Analysis

Platinum Victory is not a new name in the property industry as the Group has been around since 1996 and has delivered approximately 4,500 units of condominiums, shops and offices across Sentul, Setapak and Taman Melati Utama. However, this is the first time they got themselves into a high-end development right in the city centre. Though their strength in high-end properties is untested, many believe they have the capability to deliver a decent job if not magnificent.

The launch price is indeed quite right if we compare it to the nearby similar studios such as Parkview and Marc Service Residence, which has been averaging at RM1,000 for the last 3 years. However, many believe that the size is a little too big from which it starts at 850 sf. If it is a studio, it can be portioned into half – that will make it more appealing since the price will be lowered and become affordable by most Malaysians.