Armanee Terrace I

Armanee Terrace I is one of the most expensive condominiums in Damansara Perdana area. It is also the first condominium in Kuala Lumpur with double-storey concept. This is a project from a MK Land, which was targeted to the higher-end market.The condominium is rather low key, as it is located at the end of Damansara Perdana, so there is very little passing traffic and no reason to even drive past unless you are going to the property itself, or to the one opposite. As a result, the property does not get a lot of visibility from the public (unlike a property say TTDI plaza where you can see it everytime you pass by TTDI)Armanee Terrace I is a building consisting of 1 tower with 3 wings. Three elevators are dedicated to each wing to serve the residents of 522 duplex units. However, as the wings are only 10 to 15 meters away from each other and they all share the same center lobby, each elevator can actually be used by all residents from each wing. Each unit was initially sold at RM230 to RM250 psf. Every unit in Armanee Terrace I is a Duplex (2-storey) which comes with a very big terrace. Some residents use this terrace as a sky garden. Others as a outdoor seating patio, where they can have dinner or drinks with their family. Located towards the end of Jalan PJU 8/1, next to a hill and surrounded by a lot of trees, the residents of Armanee Terrace I always get to enjoy a clean and refreshing air. Being only about 2 km away from famous shopping complexes such as IKEA, Tesco, The Curve and 1-Utama, many people will find this place very convenient to stay.

Property Details

Name: Armanee Terrace I

Address: Jalan PJU 8/1, Bandar Damansara Perdana, 47820 Petaling Jaya, Selangor

Developer: MK Land

Completion Date: 2008

Type: Condominium

Tenure: Leasehold

No. of Blocks: 1

No. of Storey: 18 (36 floors altogether – each unit is a duplex)

No. of Units: 522

Built-up: 2,300 - 3,000 sf

Maintenance Fee: RM0.24 psf

Launch Price: RM230 - RM250 psf

Subsale Price:

Rental:

Layouts

Standard (2,300 to 2,450 sf)

Corner (2,800 to 3,000 sf)

Facilities

9 lifts serving three wings in the tower

Lobby and reading room at each of the three wing

A partially-soiled terrace (a "garden in the sky") for each unit

2 car parks for each unit

24-hour security with card access and CCTV system

2 indoor badminton courts

2 tennis courts

4-acre central landscaping courtyard with 2 swimming pools, children wading pools, Jacuzzi, water slide, waterfalls, cascades with BBQ facilities, gazebos, water lily ponds and sauna rooms

A clubhouse with reading room, games room, meeting/function room, computer room, cafeteria and health center with spas and sauna.

18 units of community shops

Handicap-friendly access to all facilities and units

Residents gym

Basketball court

Market Trends

Analysis

The main draw of Armanee Terrace I is the concept of the Garden in the Sky. A tour of the property would reveal that owners are quite creative on the use of the Terrace. A owner of a ground floor unit had a pool table and a BBQ pit on his terrace. Others have constructed gardens or Koi ponds. Others have their outdoor seating or dining tables The design of the condo fosters a sense of community as all 3 wings share the same lift lobby served by 9 elevators. Again a visit to the condo will see residents greeting each other good morning as they walk pass either on the way in or out, or hanging out at the on-premise cafe called Splash. The condominium residents are a mixture of owner occupied and tenants.During the early years of the condominium, there were a number of complaints on the quality of construction of MK land. These have mostly been resolved through renovations of the current owners. As of 2013, Security at the condo is provided via a security company using Nepalese guards. There was also a major upgrade to the condo access system, with the boom gates, visitor registration, door access, intercoms and CCTV upgraded. The CCTV system now covers perimeter, lobbies, lifts and lift lobbies and corridors of all floors.Armanee Terrace I would appeal to residents who are looking at a larger apartment that is different from the usual living hall, 3 bedrooms and toilet. It targets those who like a sense of outdoor, having tea on the Patio (or having his own garden), and a community lifestyle. Its sizes of 2400-2700 sq ft provides sufficient space for those looking for a more spacious condominium. As it is a duplex unit with bedroom on the upper level accessed by stairs, it might not appeal to those who have family members with mobility problems.The landscaping of the condo draws inspiration from Balinese concepts. A club house is located in front of the tower, where the management office nested, accompanied by restaurant, a spa with sauna, and several shops. Apart from the club house, there is another 3-storey building standing near the tower, where most of the facilities are located. Coming with a Balinese concept, the Balinese ambiance is very obvious especially around the swimming pool area which is decorated with wooden furniture and surrounded by plenty of trees. The lobby area, still with Balinese feel, is very grand with beautiful glasses and floor tiles.There is currently massive construction going on around the condominium (2013), with MK land rushing to complete Armanee Terrace II by 2014, and also Empire project ongoing. As such, some potential buyers or tenants might be put off with the dust and noise. When these projects are completed it would be very likely that the value of this property would increase significantly.Unfortunately, due to the earlier quality issues after handover, and the construction delays on Armanee Terrace II (which were an eyesore to the prospective buyer), these resulted in negative impressions spread either by word of mouth, or on some old online articles to prospective buyers. This lead to prices of Armanee Terrace I being quite depressed compared to other condominiums of similar size and facilities in other areas (eg Mont Kiara). These prices would likely pickup once Armanee Terrace II is completed in 2014 with the Empire project following.