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Park 51 Residency, Petaling Jaya

Park 51 Residency (also known as Residency @ Park 51) is a new condominium project which falls under the PJ government redevelopment within the Sungei Way area. This entire development consist of 5 phases which is the condominium (Park 51 residency), the apartment (Park 51 MyHome), a business center and office suite (Park 51 Boulevard), and a shopping complex as well as service suites (Park 51 Commerce Square).

Currently near to completion are Park 51 MyHome apartment, and Sunwaymas business center. Park 51 Residency consist of 4 blocks, complete with a swimming pool and the largest clubhouse in PJ. Block D is currently near to completion and currently under construction Block A and B.

This area provides easy access to federal highway, LDP, sprint highway and NPE. It is also within 10km from 1 Utama, Mid Valley and Sunway Pyramid shopping mall, Amarda hotel and Hilton hotel. Other nearby massive developments are such as the Icon City by Mah Sing and The Paradigm shopping mall. Park 51 Residency is located within 5 minutes of driving distance to the nearest LRT station.

Property Details

  • Name: Park 51 Residency (also known as Residency @ Park 51)
  • Address: Seri Setia, Petaling Jaya, Selangor
  • Developer: Taipan Focus Group
  • Completion Date: Early 2012
  • Type: Condominium
  • Tenure: Leasehold
  • No. of Units: 664
  • Land Area: 5.6 acres
  • Built-Up: 662 – 2,443 sf
  • Launch Price: RM193,888 – RM704,888
  • Subsale Price: RM280,000 - RM1,000,000
  • Rental: RM900 - RM3,400

Facilities

  • Guarded and gated security
  • Smart card access
  • Gym
  • Launderette
  • Convenience shop
  • Swimming pool
  • Sauna
  • Pool side cafe
  • Indoor games rooms
  • Business function rooms
  • Retail shop
  • BBQ area
  • Designer landscaped garden
  • Sports facilities – basketball court

Market Trends

Analysis

Park 51 Residency is a highly exclusive property, with only 8 units per floor. Membership to the clubhouse is complementary for purchasers, which is going to be the largest Clubhouse in Petaling Jaya. Security is also maximized with smart card required for access into this gated community and fence with 10 ft guard wall.

Location-wise, Park 51 Residency is very strategic for being just behind Cycle & Carriage (the Mercedes Benz showroom). It is also connected at the center of the Petaling Jaya business district, as well as the North Klang Valley Expressway (NKVE), New Pantai Expressway, North-South Highway and SPRINT Highway.

The PJ property price has been on an increasing trend despite during 2008 worldwide economic crisis. Therefore one can be assured that Park 51 Residency has good appreciation value. Other than that, the condominium’s launch price is still on the lower side compared to the other new developments surrounding the area, which makes it an affordable property.

Park 51 Residency has great price appreciation potential once completed. One of the main attractions of this property is the 10% Bumiputra discount. Its attractive price also makes it affordable for young people who plan to purchase it. This condo also neighbors 3 main townships, which are Bandar Sunway, Petaling Jaya and Mid Valley City.

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