Sri Kia Peng, KLCC

Sri Kia Peng (also known as Sri Kia Peng Condominium) is a condominium strategically located in the heart of the KL city centre, surrounded by shopping malls, retail shops and restaurants. It is within walking distance from Petronas Twin Towers, Kuala Lumpur Convention Centre, Pavilion, Star Hill, Bintang Walk, Monorail and Putra LRT stations.

During early 1990’s, Metzler started Bunga Emas apartment project. In 1993, Econ Resources joined the project by taking up 70% of equity and the project was renamed as Sri Kia Peng. The condominium comprises of only 64 units of upscale luxury apartments.

Within Sri Kia Peng there are three different floor plans available:

• Stana – This floor plan is a penthouse unit and it is the largest among the 3. Only 4 of these exclusive units are available; 2 of the units measure 6,562 sf and the other 2 measure 6,475 sf. There are double lounge area with its bar, a separate library-cum-den for quiet contemplation and a powder room adjoining the living area for the convenience of guests.

• Mahkota – This floor plan is a 3 bedroom configuration and measure at 2,278 sf. Only 40 units are available. There are large lounge and dining area. The master bedroom has the added touch of 2 balconies with delightful French doors. All bedrooms have attached bathrooms. It also has a separate spacious dressing area.

• Petra – This floor plan is the smallest among the 3 models. It is 2 bedrooms design but the built up area of 1,766 sf is larger than average. In addition to the 2 bedrooms, the study-cum TV/ Music area can be conveniently converted to accommodate guests.

Property Details

• Name: Sri Kia Peng (also known as Sri Kia Peng Condominium)
• Address: Changkat Kia Peng, 50450 Kuala Lumpur
• Developer: Metzler (in conjuction with ECON Resources)
• Management Company: Jones Lang Wooton
• Completion Date: 1994
• Type: Condominium
• Tenure: Freehold
• No of Blocks: 1
• No of Storey: 12
• Built-up: 1,766 – 6,562 sf
• Maintenance Fee: RM0.33 psf + RM0.03 psf (sinking fund)
• Launch Price: RM400 psf
• Subsale Price: RM600 – RM790 psf
• Rental: RM2.80 – RM4.60 psf

Facilities

• Gymnasium
• Swimming pool
• Barbecue area
• Jogging track
• Business center
• Cafeteria
• Mini market
• Nursery
• Playground
• Allocated covered parking space
• 24 hour security that includes a CCTV monitoring system

Layouts

• Penthouse Type A
• Penthouse Type B
• Penthouse Type C
• Penthouse Type D
• Type A (2,278 sf) (1 to 10 floor)
• Type B (1,766 sf) (1 to 10 floor)
• Type C (2,278 sf) (1 to 10 floor)
• Type D (2,278 sf) (1 to 10 floor)
• Type E (1,766 sf) (1 to 10 floor)
• Type F (2,278 sf) (1 to 10 floor)

Analysis

The location of Sri Kia Peng is very strategic where the most exclusive commercial and up-market shopping areas, 5-Star hotels and fine food restaurants are found. Hence, the condominium is just next to the workplace and leisure hot spots of leading business and corporate executives. It is within a walking distance from, Kuala Lumpur Convention Centre (KLCC), Pavilion, Starhill Gallery, Hakka Restaurant, Eden Village, Westin KL, Marriot KL, Raja Chulan Monorail, and Bukit Bintang/KLCC LRT.

Due to the low residential density and lush unspoiled landscaping, Sri Kia Peng can be considered to be one of most favorite residential property in KL city centre. The wholesome ambiance and safe secure environment of the condominium is ideal for the enjoyment of family life at home in the city as well as for the upbringing of young children. In spite of that, the atmosphere is also suitable for the single homeowner who simply wants his/her castle to unwind after a stressful day at work. However, the residents might face the problem of traffic congestion during the peak hour.

Recently the management company of Sri Kia Peng has under gone negotiations and in the midst of installing a high-speed broadband Internet access to further enhance the benefits of living in this community.

Sri Kia Peng provides a high return on investment. This can be evidenced in the increased of the property value from the average launched price of RM400 psf to the current value of RM600 – RM790 psf. The appreciation value is about 50%- 90% within 15 years.