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Lanai Kiara, Mont Kiara

Lanai Kiara is a high rise residential development located opposite Aman Kiara, and right behind Plaza Mont Kiara. It borders Desa Sri Hartamas and Mont Kiara, along SPRINT highway. Among its immediate residential neighbors are Flora Murni, Laman Suria, and Kiara 1888.

Lanai Kiara was launched in July 1995 and completed in February 1998. It houses 181 condominium units ranging from standard units to deluxe maisonettes and luxurious penthouses in a single condominium block with several wings. Each unit is furnished with timber strip parquet flooring and ceramic tiles.

Mont Kiara vicinity is nearby numerous of prime neighborhoods. It is minutes away from Sri Hartamas, Damansara Heights, Bangsar, Segambut, Taman Tun Dr Ismail and Bukit Tunku. It is strategically located next to SPRINT highway that directs to Penchala Link and Jalan Semantan. You can access Taman Tun Dr Ismail, Federal Highway and Damansara Perdana via Penchala Link. From SPRINT highway, you can access Jalan Duta, NKVE and Damansara Puchong Highway, as well as reach Bangsar, Damansara Heights and Damansara Utama.

Being located right behind Plaza Mont Kiara, you can find numerous cafes and restaurants serving western fine cuisines to fast foods. Also, Hartamas Shopping Centre is just minutes away from the condominium. Besides that, Lanai Kiara is only few doors away from Garden International School, enabling your children to conveniently walk to school. There are several other schools located nearby including Mont Kiara International School, SMK Taman Sri Hartamas, SJK Bukit Damansara and Sri Cempaka International School.

Property Details

  • Name: Lanai Kiara
  • Address: Jalan Kiara 3, Mont Kiara, Kuala Lumpur
  • Developer: Asia Quest Holdings
  • Completion Date: February 1998
  • Type: Condominium
  • Tenure: Freehold
  • No. of Blocks: 1
  • No. of Units: 181
  • Subsale Price: RM430,000 - RM1,380,000
  • Rental: RM2,200 - RM7,500

Facilities

  • Barbecue area
  • Cafeteria
  • Covered parking
  • Gymnasium
  • Mini market
  • Nursery
  • Playground
  • Salon
  • Squash court
  • Tennis court
  • Swimming pool
  • Wading pool
  • 24-hour security

Market Trends

Analysis

Lanai Kiara is another high rise residential by Asia Quest Holdings in Mont Kiara enclave together with Vista Kiara, Kiaramas Sutera and Kiaramas Cendana. The group was established in 1991 and ventures primarily in property and real estate development. The company also owned 45-acre of land on the east side of Mont Kiara, labeled as Kiaramas, which half of it has been developed. Its latest development projects in the area are Gateway Kiaramas and Kiaramas Ayuria.

Most people realize that Jalan Kiara 3 is the busiest road within the enclave because the road connects to Jalan Segambut, and Garden International School is located along the road. Therefore, most residents along the road complaint about terrible traffic congestion they suffer everyday during peak hours. Luckily for Lanai Kiara residents, they do not have to struggle along the traffic as it is located at the beginning of Jalan Kiara 3 that connects to SPRINT highway.

Comparing the facade of Lanai Kiara with most residential in Mont Kiara, this is one of the uglier looking condominiums in the area. Nonetheless, it is already a 10 years old residential. Looking at its granite maroon color scheme used for its entrance, and peach color for the building, one can find these quite funny and very out-dated comparing with most new developments that feature urban color schemes.

Even though it is within walking distance to Sunrise’s Sports Zone, residents of Lanai Kiara cannot take advantage of the sporting facilities provided at the center as the facilities are only offered to Sunrise’s residents. Even though this is not a major drawback, one would choose similar residential from Sunrise due to this advantage.

Lanai Kiara was one of the property aces within the enclave plenty years back, offering 9% of gross rental yield. Back then in 2006, a unit here was asked for RM280 psf, and its rental was tagged at RM2.00 psf. Looking at these two figures, we can find that its price has hiked a little bit from RM280 to RM320 psf in 3 years time, which is not very attractive. But the rental rate says it all, as the rental has dropped from RM2.00 to RM1.80 psf, which portrays decreasing value of Lanai Kiara.

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