The Meritz is a high rise residency strategically located right opposite the Petronas Twin Towers, or well-known as KLCC. It was developed by renowned DNP Tanahniaga which is the subsidiary of DNP Holdings.
Basically, The Meritz offers two types of units to choose from. One that is measuring at about 1,400 sf, and consists of 2 rooms. Another one is measuring about 1,500 sf, and comprises of 3 rooms. Additionally, there are another four units of duplex penthouses, which also consist of 3 rooms each.
The 31-storey building comprises of 6 levels of parking lots, 2 levels of common facilities housing its facilities including swimming pool, Jacuzzi, gymnasium, function room and sauna. The rests are residential units which each storey consists of 5 units.
The Meritz is well-located in the centre of Kuala Lumpur hub. Within walking distance, residents can reach renowned KLCC and almost all public transportation hubs available in Malaysia including Putra LRT KLCC, bus and taxi.
In term of access roads, residents of The Meritz can access to Jalan Mayang via Jalan Ampang and Jalan Kwan Yap Seng. Motorists can use Ampang-KL Elevated Highway (AKLEH) from Jalan Tun Razak to get to Ampang and also take benefit of Jalan Tun Razak to go south to Seremban, Putrajaya and Cyberjaya or heading north to Petaling Jaya, Mont Kiara, Bangsar and Klang.
One should never worry about amenities and facilities while living in The Meritz. One can always take a 3-minute walk to Avenue K and Suria KLCC to have everything from fancy dining to everyday groceries need. Besides Suria KLCC, there are several more shopping heavens within reach including Pavilion KL, Lot 10, Starhill Galery, KL Plaza, Sg Wang Plaza, Times Square and BB Plaza. In addition, there are also a number of clubs and bars located nearby around Jalan P. Ramlee such as The Beach, Nouvo and Zouk to name a few.
Moreover, for golf enthusiasts, there Royal Selangor Golf Club located just within 3 kilometers. For kids’ education, there are Fairview International School, Sayfol International and Alice Smith International School located nearby.
The developer, DNP Holdings is an experienced developer and had built numerous developments from residential to commercial centers and mixed developments in Malaysia region. DNP Holdings is the Malaysia wing for the famous Wingtai Asia Holdings majoring in property, hospitality and garment industry in Malaysia. Wingtai Asia Group has also step its foot in Hong Kong and Singapore, via USI Holdings for Hong Kong region and Wing Tai Holdings for Singapore region.
Among the company achievements in Malaysia are Kondominium 8 in Ampang Hilir, Lanson Ambassador Row, Taman Bukit Minyak Indah’s terrace and semi-detached houses, and Plaza DNP in Johor Bahru. The Wing Tai Asia Group has several other properties in Australia, Singapore and Hong Kong.
Although The Meritz is strategically located opposite of KLCC, units which currently enjoying fascinating views of the twin towers will soon be gone, as there will be a new development on the plot in front of The Meritz that will eventually block all KLCC views. Not only suffering blocked view, they will also have to bear with the construction works for at least 3 years. With all construction works, the residents will suffer bad air quality with dusts covering the facilities, bedroom windows and balconies as well as noise pollution.
In terms of its layout, the 3-room apartment does not emphasize luxurious living space. The master bedroom is relatively quite small and cannot fit a full set of wardrobe. Meanwhile, its second and third bedrooms are well-sized and share a non-attached common bath.
Besides that, the unit has full height windows but not offering large view at its dining and living. The unit also does not consist of a wet kitchen even though it is fairly-sized. Plus, its yard is very small and can only be placed with a washing machine. Also, the utility or maid room is very small and cannot be fitted a decent bed.
As for the 2-room apartment, which is about 1,400 sf, the layout is much better proportioned. It comprises larger living dining and master bedroom which are comfortable. However, the large spaces are traded with smaller and uncomfortable kitchen, yard and utility room areas.
Another problem for residents of The Meritz is each unit only comes with a single parking bay, which the developer required its purchaser to purchase for RM40,000 each. Also, each unit is only eligible to purchase a single parking bay. Thus, if you have more than a car, you have to find other solution to park elsewhere.
Since the launch date of The Meritz in April 2005, the price had appreciated after its completion, and then depreciated again for the past 1 year. It was launched from about RM750 psf and doubled to RM1,500 psf for the last buyers. It is currently priced around RM900 psf.
The volatile market price changes were due to the price push by initial investors and developers when The Meritz was nearing to completion. But due to low in demand, high holding costs suffered by owners due to untenanted units and numerous new high-end residential developments in the prime area, the price fell tremendously.
Even though numerous initial investors have made tremendous profits within short period from The Meritz investment, investing in a unit during current market is a risky bet. Most analysts target that most of high-end residential developments around KLCC will suffer badly from current economy downturn, and this include The Meritz.