The Oval, KLCC
The Oval is a luxury condominium developed by Titan Debut, which is a subsidiary of GuocoLand (M), formerly known as Hong Leong Properties. This new high rise development which was completed in early 2009.
The Oval consists of two blocks of 41-storey condominiums, namely East Tower and West Tower. These two towers house a total of 140 units with two types of layouts, the Sky Villa which is 3,750 sf and the Mansionary Villa which is 7,600 sf complete with full condo facilities. The Oval sits on a 2.14 acres plot of freehold land.
The Oval is nestled within the KLCC area, exactly at Jalan Desa Kudalari, which is between Jalan Binjai and Lorong Kuda. The Oval is accessible via major roads in Kuala Lumpur namely Jalan Ampang, Jalan Tun Razak, Jalan Kia Peng, Ampang – Kuala Lumpur Elevated Highway, Smart Tunnel and many others.
The Oval is close to many amenities such as schools / institution of higher learning, embassies, shopping malls, corporate offices, hospital, LRT station, cafÃ© and restaurants. These include SMK Puteri Ampang, SJKC Lai Meng, Informatics College, The University of Nottingham campus, High Commission of the Republic of Singapore, Embassy of Japan, KLCC, Plaza Ampang, Twin Towers Medical Center, Hsc Medical Center, Ampang Park LRT station and many others.
The Oval, KLCC Average For Sale Price
In the local property market, the KLCC area is yet another favorite spot for property owners particularly among expatriates and the affluent group. This highly sought after location is claimed to be able to provide promising rental returns as well as high capital appreciation to property investors. As The Oval is located within this up market area, it is also an advantage to property owners of this luxury condo in terms of property investment.
The KLCC enclave which includes its surrounding areas such as Jalan Ampang and Jalan Tun Razak are notoriously well known for heavy traffic flow. Due to this daily traffic congestion issue, it might not be a pleasant place live in. Nevertheless, The Oval's location is strategic to public transportation, as it is within walking distance to the Ampang Park LRT station.
The Oval is a low density high rise development, as there are only 70 units on each tower, with only two units per floor from level 2 to 32 for the Sky Villa and one unit per floor from level 33 to 40 for the Mansionary Villa. This newly built luxury condo may be a low density project, but one should take note that the KLCC area is already very crowded with many high rise developments, be it commercial or residential. All these luxury residential developments may be well planned with low density status but overall, it is the number of condominiums as well as corporate towers in the area that have contributed to the total population.
As one travels along Jalan Binjai, it is noticeable that The Oval has a unique "oval shape" building structure which is composed around eight slender columns. To add on to the condo's uniqueness, the developer also provides imported quality marble for the foyer, living hall, dining area, kitchen and family room in all units. As for the bedrooms, they come with teak / oak timber flooring. In terms of privacy, residents need not worry about any unwanted disturbances or privacy intrusion as each unit has a private lift lobby.
Pricing wise, The Oval's subsale price is indeed on par with, if not higher than the other luxury condos within the area. Most high rise developments around the area only has an average value of approximately RM1,300 psf, but The Oval's recent subsale value is between RM1,500 psf to RM2,000 psf. As there are many foreign embassies as well as multinational companies around the area.
Initially, due to delay in obtaining CF (Certificate of Fitness) when completed in 2009, the prices of The Oval took a slight dip. The delay in obtaining CF was due to a layout design flaw, which 2 intermediate rooms of a unit do not have any windows. How could the architect make such an obvious mistake during planning? Somehow, the permanent CF has now been issued as of End 2010.
There is a high chance that The Oval would appeal to expatriates, as well as the local affluent group of people. This factor certainly shows that The Oval could be a good buy for property investment, provided it could obtain CF as soon as possible.