Monday, July 7, 2008

Just Completed - Maytower

We are seeing loads of advertisment in the classifieds for rental. Maytower has just entered the market to compete for the lower end studio market - in direct competition with Casa Mutiara. Maytower is a serviced apartment - the lower floors are run as a serviced residence complete with lobby, breakfast, cleaning and room service by a hotel group. The upper floors are individually owned and owners have just been furnishing their units and offering them to the market.
Maytower consists mainly of small studio units around 400sf - 600sf.

Developed by Mayland of the Parkview fame (or...), from the outset, Maytower seems like a very luxurious project. Luxurious marble clad lift lobbies....

Luxurious lobby...
Luxurious pool...

Luxurious gym...
But, as in all Mayland projects, they are all lacking in attention to detail. The above gym may look sophisticated and facilities look modern but taking a closer look, you will notice that the quality of material is lacking and finishings are rough unpolished.

This uncovered part located just beside the "luxurious gym" may say it all...

Maintenance is also an issue. Sauna doesn't work...
Architecturally, some parts of the corridor is really narrow. Which is a big worry for safety and also I would imagine moving large furniture would be a problem.

There are areas which will breed mosquitoes. There is no possibility for this cesspool to be drained and there are 2 on every floor.

Mouldy internal walls are quite a common feature on every floor...
Notwithstanding, apparently estate agents are making a brisk business. Units are being rented out like hot cakes. This is despite the noisy construction opposite the Maytower.
Maytower is strategically located near the Medan Tuanku Monorail, Masjid Jamek LRT station and the Bandaraya LRT station. It is also one of very few apartments renting below RM2000 in KL. Not many people, expats included are ready to pay the RM3500 and up asking rent by high end properties like Seri Bukit Ceylon, Parkview and Marc. This is also a reason why Casa Mutiara is such a success. However, I learnt that parking is not inclusive and it costs RM5 per entry to park your car.
The neighbourhood, Maytower is situated beside Menara City One, the luxurious high end project which went wrong. Many units here are currently occupied by about 10 to 20 foreign workers packed into a single unit.
I also noticed the uncanny resemblance of the Maytower with the Capsquare Residences, another luxury project in the vicinity.
Maytower above... Capsquare below...

4 comments:

PrincessL said...

Hey Sin Leong, thanks for your blog on Maytower, I am new to property - and I was considering to buy a unit there, lucky came across your blog! What do you think of Kiara Designer Suite?

sinleong said...

In my opinion, (and many people will disagree with my opinion) Bukit Kiara is too high density and there are just too many choices - both for tenants and for investors. However, I would agree that KDS is one of the better built and managed condominium in the Bukit Kiara area

Anonymous said...

Hi Sin Leong,
Mind to post some comment regarding Menara City One? I've noticed a wave of selling a couple of years back (just like Mutiara Villa) What went wrong?

As you've mentioned (sic)"the luxurious high end project which went wrong". care to enlightened us further what you've discovered?

Thanks alot pal.
Brian Low

sinleong said...

Menara City One would be a waste of time. Actually it is the location in the middle of Masjid India area which is teeming with low cost migrant workers. So, when you get the wrong kind of tenants forming the majority, it will put off other high value tenants.