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Residensi 22, Mont Kiara

Residensi 22 (also known as Residency 22) is a high end residential development located in Mont Kiara. The tenure for the units is to be freehold and construction is expected to complete 4 years after its launch, roughly in the middle of 2017. The developers are none other than UEM Sunrise, an absolute titan in the development scene.

The developer of Residensi 22 plans that there are to be a total of 4 blocks, but Phase 1 as of now only sees to the construction of two blocks, each having 38 and 39 floors respectively, with a total of 534 units. The units are generally larger than what other condominiums offer, starting at 1,909 sf. Low density is also a selling point that the developers are pushing for, with only 4 units per floor. The units vary slightly in terms of layout, ranging from 3+1 bedrooms to 4+1 bedrooms, and 4 to 5 bathrooms. Prices for the units at launch start from RM1,430,000 for the smallest unit at RM750 per square feet.

Residensi 22, being marketed as a high-end condominium, would have adequate facilities to attract the high-end consumers. Primarily, facilities include a gymnasium, tennis court, a half basketball court, a multipurpose hall that can be used as a badminton court, children’s playground, sky deck, meditation lawn, and a lap pool. 24 hour security patrol the perimeter, as with any high-end condominium; and the nearest police station is 3 kilometres away, being Balai Polis Taman Tun Dr Ismail.

Being located in Mont Kiara, Residensi 22 offers easy access to amenities. There are three shopping complexes within a 2 kilometre radius, being 1 Mont Kiara Mall, the Hartamas Shopping Centre, and Solaris Dutamas; these three shopping complexes together offer a vast range of amenities. Less than 500 meters away is the township of Desa Sri Hartamas, where eateries, minimarkets and 5 bank branches could be found. Less than 500 metres from Residence 22 is the GDM Specialist Centre and the Kiara Medical centre. There are also numerous schools nearby, including Garden International School, Mont Kiara International School, SK Sri Hartamas, SK Bukit Damansara and Taylor’s College Hartamas.

The location of Residence 22 is strategic as it offers excellent accessibility to KL City Centre and other parts of Selangor as well. The North South Expressway (PLUS) and Sprint Highway are nearby, allowing access south towards KLIA or north towards Pahang. The Sprint Highway connects Mont Kiara to the Bangsar area which is very near Kuala Lumpur City Centre. In terms of public transport, there is next to nothing to speak of, as the nearest bus stop is roughly 2 kilometres away.

Property Details

  • Name: Residensi 22
  • Address: Jalan Kiara 3, Mont Kiara, Kuala Lumpur
  • Developer: UEM Sunrise
  • Completion Date: Mid 2017 (estimate)
  • Type: Condominium
  • Tenure: Freehold
  • No. of Blocks: 4
  • No. of Storey: 38
  • No. of Units: 534
  • No. of Bedrooms: 3+1 to 4+1
  • No. of Bathrooms: 4 to 5
  • Land Area: 6.66 acres
  • Built-up: 1,909 sf – 3,112 sf
  • Maintenance Fee: RM0.22 psf
  • Launch Price: From RM1,430,000 (RM750 psf)

Layouts

  • Type A
    • 3+1 bedroom + 4 bath + 1 family area
    • 2,243 sf
  • Type B
    • 3+1 bedroom + 4 bath
    • 1,878 sf
  • Type C
    • 3+1 bedroom + 4 bath
    • 2,038 sf
  • Type D
    • 3+1 bedroom + 4 bath
    • 2,020 sf
  • Type E
    • 4+1 bedoom + 4 bath + 1 family area
    • 2,973 sf

Facilities

  • Swimming pool
  • Children’s pool
  • Gymnasium
  • Tennis court
  • Badminton court
  • Basketball court
  • Multipurpose hall

Analysis

The developers are UEM Sunrise Berhad, a new legal entity after the merger of two companies with excellent synergy in terms property development. The company is listed on the Main Market of Bursa Malaysia, and is ranked the largest property development company in terms of market capitalization. The company also holds the largest land bank among all the property developers. Apart from these strong credentials, the company is also a wholly-owned subsidiary of Khazanah, the investment vessel of the Government of Malaysia. Therefore, it is fair to say that the developer is rock solid financially, and has an excellent track record in property development.

At the project’s inception, the target market was always the middle upper class residents and investors. The presence of numerous international schools nearby also indicates the possibility of expats joining the community. The built-up sizes of the units also hint at its exclusivity; low density with 4 units per floor; also indicate that the target market leans toward the upper end. Furthermore, the fact that the developer is UEM Sunrise, along with a site situated in a prime location; it is an investment that could scarcely go wrong, especially with the launch price of 750psf. It is also said that the large built-up and the relatively large buy-in, due to the large built-up size, is to thwart speculators or “flippers” from tampering with the market price of the units, as a large amount of capital would have to be locked up.

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