The Binjai

The Binjai (also known as The Binjai On The Park) is a luxury condominium developed by Layar Intan. The developer is a subsidiary of KLCC Holdings, which in turn is the parent company of Bursa Malaysia-listed KLCC Property Holdings. KLCC Property is the real estate arm of national oil company Petronas. The Binjai which was completed in end of 2008 consists of two towers, a 44-storey and a 45-storey condo with a total of 171 units. This condo was designed by world class architecture firm, Allen Jack and Cottier from Australia. The Binjai is located along Jalan Binjai overlooking the KLCC Park. This condo is easily accessible via major road networks such as Jalan Ampang, Jalan Pinang, Jalan Tun Razak, Ampang-Kuala Lumpur Elevated Highway (AKLEH), Jalan Yap Kwan Seng, etc. It is also close to amenities such as shopping malls (Suria KLCC, Avenue K), KLCC Park, Kuala Lumpur Convention Centre, Petronas Twin Towers, Twin Towers Medical Centre, embassies and high commission offices, LRT stations, food and beverages outlets and many others.

Property Details

Name: The Binjai (also known as The Binjai On The Park)

Address: Jalan Binjai, Kuala Lumpur

Developer: Layar Intan (a subsidiary of KLCC Holdings)

Completion Date: End 2008

Type: Condominium

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 44 and 45

No. of Units: 171

Maintenance Fee: RM1.10 psf

Subsale Price:

Rental:

Layouts

Type A1 / A2

Level 18-38

3,638 sf

Type A3 / A4

Level 5-15

3,703 sf

Type Garden Apartment A

Level 3

3,832 sf

Type Garden Apartment B

Level 3

4,058 sf

Type B1

Level 19-37

2,906 sf

Type B2 / B3

Level 15-35

2,250 sf

Type B4

Level 5-14

3,218 sf

Type B5 / B6

Level 5-14

2,282 sf

Type Park Penthouse A1 / A2

Level 16 (entry level)

3,886 sf

Level 17 (upper level)

3,412 sf

Type Penthouse A1 / A2

Level 40 (entry level)

3,724 sf

Level 41 (upper level)

3,444 sf

Type Penthouse A1

Level 42 (entry level)

3,692 sf

Level 43 (upper level)

3,573 sf

Type Park Penthouse B1

Level 15 (entry level)

3,057 sf

Level 16 (upper level)

2,110 sf

Type Park Penthouse B2

Level 17 (entry level)

3,046 sf

Level 18 (upper level)

1,830 sf

Type Sky Apartment B1 /B2

Level 36 (entry level)

2,260 sf

Level 37 (upper level)

1,970 sf

Type Penthouse B1

Level 39

5,640 sf

Type Penthouse B2 / B3

Level 40 / 41

5,629 sf

Type Super Penthouse B

Level 42 (entry level)

5,748 sf

Level 43

5,360 sf (terrace, store, pool plant room)

Level 44 (upper level)

3,229 sf

Facilities

Private lift lobby entrance

Swimming pool

Lap pool

Wading pool

Spa

Gymnasium

Tennis court

Squash court

Sauna

Lounge

Function room

Concierge service

Market Trends

Analysis

When one travels along Jalan Binjai, a new addition to the KLCC skyline would be noticeable. The Binjai has unblocked panoramic views of the Petronas Twin Towers and the surrounding skyscrapers in the city. This has certainly made it stand out amongst the other luxury developments within the area. When this property was launched, it was nominated as the most expensive luxury condo in Malaysia.Even though The Binjai is nominated as one of the most expensive luxury condos, many have regarded the exterior of this condo as similar to medium cost apartments. This could possibly be due to the exterior building design as well as the awkward color combination. During the construction stage, level 44 of tower B was reported to have caught fire which was believed to be due to welding works. The fire was also said to be restricted to the roof and none of the units caught fire as it had only affected the framework. Even though there was an assurance and public statement given by the spokesperson of the developer, many buyers were still doubtful on the impact the fire had left on the building's structure. Thus, buyers need to take into consideration of this incident, as it could have had a negative effect to the building, which could further risk the safety of the building / units. Apart from that, buyers should also take note that there will be a future development at nearby area. The Binjai II, which is yet another development under the same developer Layar Intan (through KLCC Property Holdings) would be developed. The construction of this new development would certainly contribute to dust and noise pollution.In the local property market, the KLCC area is yet another favorite spot for property owners particularly among expatriates and the affluent group. This highly sought after location has always been a target amongst property investors as it is claimed to be able to provide promising rental returns as well as high capital appreciation. As The Binjai is located within this up market area, it is also an advantage to property owners of this luxury condo in terms of property investment.Further to the location factor, the traffic congestion is a norm within the KLCC area. Being located amongst the other up market residential and commercial buildings in Malaysia, one of the major drawbacks of living in this area is the heavy traffic flow. Even though property owners need to endure the daily traffic issue, they still get to enjoy the convenience of having amenities which are within walking distance. It is also important to take note that the KLCC area is a densely populated area. Even though The Binjai is a low-density development, the whole area is already very packed with buildings. As such, the condo's strategic location might not appeal to some people, particularly those who prefer the less hectic lifestyle in areas with less traffic issues. In view of the condo's pricing, The Binjai was previously nominated as one of the most expensive condos in Malaysia. With that, it is definitely not surprising to find that the condo has a high service / maintenance charge of RM1.10 psf. As most of the other luxury condominiums are also priced within this range, albeit with a slightly lower service / maintenance charge, buyers are expected to take into consideration on the easy access from The Binjai to KLCC Park.