Friday, September 2, 2011

ONE @ Bukit Ceylon

Yet another project in Bukti Ceylon. This one opposite Somerset Seri Bukit Ceylon is by the UOA Group. One @ Bukit Ceylon is going to be a Serviced Residence / Hotel. Unlike Seri Bukit Ceylon (Somerset), One Residency (Park Royal) or Verticas Residensi (Lanson Place), UOA is going to manage this hotel themselves and they are giving buyers a Guaranteed Return of 6%.

Being a hotel, One is laid out with long corridors 22 units per floor. There is a facility floor with swimming pool, gym, sauna etc somewhere between the car park floors and the rooms. Above that, there are 20 odd floors, consisting of:
1 x 2br unit and 9 x 411sf studio units facing One Residency and
1 x 2br unit ansd 10 x 453sf studio units facing Changkat Bukit Bintang

The most popular is the Type B 2 br unit which is 893sf facing Changkat (above). But all these are sold out despite the above a million price tag. The 2nd type of 2br units aren't as popular due to the poor layout. They have 2 bedrooms with windows, while the living room, kitchen, dining and bathrooms are without windows.

The studios are... well... pretty standard studios... If one chooses the unit facing One Residency, it won't be long before the car park in between is developed blocking all views. The Changkat view isn't that great either. Although it will be perpetually unblocked, the nightly noise from the bars in Changkat is certain to turn away tenants. So, you get to choose between 2 evils - future wall view or noise.

Pay future prices today. Is it worth it?

453sf unit on 13th floor for RM600k (RM1324psf). With 6% Guaranteed rental returns over 12 months.
640sf unit across the road at Seri Bukit Ceylon selling below RM600k (RM930psf) can be rented out at RM3500 per month (though not easy).
What do you think?
*Building pics taken off One Bukit Ceylon website without permission


Simon said...

with this price, you will know this is a world class quality product. It is from UOA.

If you can afford, why not, rich people willing to pay for something is good and different that others.

It is just a matter how this developer do it and depending Malaysia Economy to push up the requirement to suite this level of living.

kvinlim said...

Is RM1324psf expensive? I'm not sure anymore, as even development in PJ also asking for over RM1000psf nowadays. If it's a signature among the Ceylon, why not =)

Anonymous said...

I checked with UOA and seems to be doing pretty well with 5 years rental guaranteed (3 + 2 years) at 6%. If UOA is not sure of its product, how come offer such guarantees in rentals?
Is UOA a renowned developer?

Jobless Girl said...

I understood that they offer another package where without the rental guarantee and they offer 12% off. Maintenance cost 0.77 cents psf. Does is sound more interesting?

sinleong said...

yup. i'm aware about the deal but those are limited to units on the high floor only. so, the premium u pay for the high floor totally offsets the discount. 77sen is a lot to pay for maintenance fees

CC said...

Is it worth for investment? How many % of the total price can be loan for foreigner? My friend said it should be worth for investment in KL. True?? I heard UOA is one of the biggest developers in Malaysia. Right?
Do you have any comment on this project?

sinleong said...

there is a guaranteed rental return for up to 5 years. but what happens after 5 years? at 77sen psf for maintenance fees, im a bit nervous