Sunday, December 11, 2011

Jalan Raja Chulan Serviced Apartment

Few months ago this plot of land fronting Jalan Raja Chulan, opposite the Weld was put up for sale. I thought it would be a really good idea to build a hotel or serviced apartment here. And true enough, a developer bought it and is planning a 29 storey building, 20 floors serviced apartments with 7 floors of parking and 2 facilities floors.

The location is indeed superb. There is no hotel or serviced apartment on Jalan Raja Chulan despite being slap bang in the middle of the KL CBD. And this stretch of Jalan Raja Chulan is a dual flow traffic road unlike St Mary, which is directly opposite but access is via one-way Jalan Tengah. The Pavilion mall and KLCC are all within minutes of walking.

However, the plot is rather small and the developer is putting up about 10 units per floor. This is not too bad after all, with such low density, competition will not be too tough if the project is carried out well enough to compete with the apartments in KLCC and Bukit Ceylon.

Let's keep a look out on this one and hopefully it won't be another over-priced over-confident project.


Anonymous said...

Hello Sin Leong,
I have been reading with great interest your various blogs on condominium properties in the Bukit Ceylon area.

After some initial research, we have concluded that Mutiara Villa might potentially be suitable for our requirements. I was wondering if you still have any contacts at Mutiara Villa or may know of any owners who might be looking at selling their property. We are looking at a 2 bed/2 bath unit although the 1bed /1 bath units seem rather spacious & we wouldn't mind settling for a smaller unit. Also, would appreciate any advice you may have on what sort of price levels we may be looking at.

We have also viewed some units at 38 Bidara, but the lack of parking may pose an issue. A unit we have looked at on the 16th floor facing Istana Hotel (732 sq ft) is asking for $550K - do you think it is over priced? We think it seems so without knowing too much about the area.

I would appreciate any advice and insight you could provide in this venture.


sinleong said...

there are so many agents nowadays, u will be kinda spoilt for choice. the prices at mutiara villa has shot up in the past year as the owners took over the management which has improved significantly. u r looking at about RM500k for a 2br/2b and RM400k for a 1br/1b. units are bigger than bidara and comes with car park. nevertheless, the RM550k price tag for bidara is the current tag. for the 2br, always go for the corner units as the intermediate ones dont have very good layout. the back part of the unit is very dark. so, always look for type A, type C or type D and for 1br, i recommend type F.

Anonymous said...

Thanks heaps for your input, Sin Leong...


Anonymous said...

Hey has this place been launch ? I see there is a glass show unit apparently this one is by a Singapore developer hence it can't be cheap.. They will try to price it like Singapore to trap people

Anonymous said...

Most likely will be St Mary pricing...