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.