Menara Hartamas is a low density freehold condominium located in Sri Hartamas, a sought after address in Kuala Lumpur. It is another property development by Mayland.
Menara Hartamas comprises of a 10-storey tower condominium block that consists of 136 condominium units. Each unit comes with 3 to 5 bedrooms and 2 to 5 bathrooms. Built-ups start from 1,560 to 3,250 sf.
Menara Hartamas is located strategically within walking distance to Hartamas Shopping Center and SK Seri Hartamas. There are numerous commercial activities within short distance, as Plaza Damas is also located within short walking distance, as well as the new Plaza Damas 3.
Being located besides the “Global Village” Mont Kiara, expatriate occupants can send their kids to numerous international schools in the vicinity namely Garden International School, Sri Cempaka International School and Mont Kiara International School within short driving distance. Plus, Menara Hartamas is also nearby Taylor’s College.
There are plenty of road and highway accesses available within Sri Hartamas. For instance, one can utilize its direct access to Jalan Duta to reach Jalan Kuching and head to the city center. Also, one can use PLUS highway to head north via Jalan Duta. Alternatively, SPRINT highway is also adjacent to Sri Hartamas that leads to Damansara Heights, Bangsar and Damansara. Furthermore, it is also nearby Penchala Link, Duke Highway and Kerinchi Link.
Mayland is the developer for most developments from residential to commercial centers in Sri Hartamas enclave. The company is originated from Hong Kong and have developed a handful of developments such as Hartamas Shopping Center, Hartamas Superlink, Dorchester, Mayfair, Windsor Tower, Waldorf Tower, Maytower, Parkview, and Prima Regency in Johor Bahru.
Mayland is one of the infamous developers in the country. The company has delivered a number of bad workmanship and low quality developments, and also bad maintenance as well. One of the worst Mayland’s developments is Sri Putramas, which was delivered late to its owners with cracked on walls, loads of defects and cheap quality paint. Most of Mayland’s properties are associated with depreciation in value, but Menara Hartamas is an exception together with Mayfair and Dorchester.
There was a case on 28th of June 2006 in Menara Hartamas which lift rescue by firemen was delayed by the security. It happened in Block 7 lift, where a resident’s relatives that consist of 12 people including 4 children and a 3 months old baby were trapped in an elevator for about 45 minutes. The resident claimed that after she informed the security guards, she was told to wait for the maintenance officer as he was not stationed at the office at the moment. Seeing no urgency by the management, she called the Fire and Rescue Department and the firemen arrived 15 minutes later. Then, while the firemen were trying to rescue them, the security stopped them as the security claimed the firemen might damage the elevator. The maintenance crew only arrived an hour later after the report was made.
Besides that, there is also security issue at Menara Hartamas. In 2006, there were 4 burglary cases reported within 1 and a half month periods. Even after the incidents, the residents claimed that the management did not improve the security. Even with lacks of security measures and bad maintenance, residents are required to pay about RM0.25 psf per month for its maintenance fee which is quite high.
In terms of capital appreciation, the price of Menara Hartamas has appreciated approximately 5.35% per annum since 2003 to 2008. Similar to its rental yield, it has appreciated approximately at 5.34% per annum within the same period. But the price staggered within the same price range around RM300 psf.
Investment wise, there is still high possibility for capital appreciation due to high demands for residential in Sri Hartamas, as well as it will enjoy good view of the whole new Istana Negara, which is currently under development.
Show Wall