MID-SIZED mixed property developments in suburban Kuala Lumpur are limited and thus are fast being snapped up.

This is due to its lifestyle appeal and the fact that there are very few left.

Homes like these are poised as escapades from the city’s hustle and bustle, due to its placement of not being too far away to commute to and from work, framed by tranquil neighborhoods to raise a family as well as to retire in.

Taman Nirwana in Ampang is one such locality that is seemingly an oasis of perfect peace within close proximity from the boisterous city centre; yet placed stones’ throw away for residents to reap from the trappings of modern city comforts, including easy accessibility to a myriad of LRT stations and KLCC.

Hon Residensi is developed by Sri Seltra Sdn Bhd, a subsidiary of City Motors Group, with a total GDV of RM102mil located at Section 16, Ampang, Hulu Langat in Selangor.

The high rise has until now eluded its share of limelight after completing a podium commercial structure comprising 27 shop houses on its ground floor.

All units have been sold and the shop houses are already occupied by retail outlets, a mini-market and car repair shop.

Phase 3 up for grabs

Hon Residensi is now launching its Phase 3 development, offering a total of 172 serviced apartments of various floor sizes within its two tower blocks.

This offering is low in density and is equipped with modern condo facilities including an infinity pool and recreational amenities placed on top of a podium structure.

The two blocks offer 84 units in Block A and 88 units in Block B respectively, sitting on a total land area of 2.69 acres on a lease, until Feb 24, 2111.

At RM500 per square foot (psf), Hon Residensi is almost half the price of similar developments, established nearby.

Being constructed by a reputable and experienced developer with no bridging loan on the property has its perks.

At the time of writing, construction of the high rise has currently reached right up to the third floor for both towers A and B.

Sri Seltra director Terence Chai said, “Taman Nirwana is the quieter cousin of vibrant Kuala Lumpur and is sought after for its huge potential in capital appreciation while, its lifestyle appeal of a rustic ambience blends well with buyers whom prefer to live or bring up their families in a lush neighborhood.

Independent Suburb

Currently Taman Nirwana with its surrounding infrastructure is already self-contained enhanced by Hon Residensi’s podium being tenanted with shops and offices.

The establishment is targeted to young professionals and business individuals, raising a family and those considering retirement.

Good news for future residents here, within 5km radius one will be able to find a hospital, a number of national and international schools, while the International School of Kuala Lumpur that is almost ready is also located less than 5km away from the property.

In addition, there are multiple pre-school centres aside from the abundance of multi-cultural interactions available within the locale such as a Korean Town, parks, and shopping malls such as Ampang Point, Tesco Ampang and Galaxy Ampang.

Dual key feature for higher yield

Surrounded by a swathe of mid-range priced landed properties, Hon Residensi is well-thought out to blend with its immediate surrounding neighborhood.

Hon Residences is unique as it provides layouts ranging between 700 sq ft to 1,800 sq ft, catering to a whole spectrum of customers with dual key features in some of the layouts providing purchasers more flexibility in terms of how they manage their properties.

“Each floor has eight units serviced by 2 lifts per tower, guarded by two to three-tier security features,” Terence added.

Maximal value

Where pricing is concerned, Terence said buyers are buying into the future whereby the property prices would have appreciated substantially with potentially high-value expected return and yield.

“We price our product competitively around RM500 psf nett currently while, nearby condo properties at Jalan Ampang, about 3km away, are fetching prices from RM1,000 to RM1,500. Hon residences is poised as cheapest in the area,” Terence explained.

The average selling price is RM600,000 per unit while, Bumiputra buyers are entitled to a discount of 10% of purchase price.

“Hon Residensi’s bestselling point is its strategic location that is next to exclusive addresses such as Jalan Ampang, the Embassy Row of Ampang Hilir,” added Terence.

The development is a balance between having ample private spaces and at the same time, ensuring that maintenance cost is kept at bay.

Easy Access

The mixed-development is walking distance to the LRT Cempaka Station, and a short 7km drive to the city centre (about 10 minutes) via the Ampang-Kuala Lumpur Elevated Highway (AKLEH) or through Kampung Pandan.

Hon Residensi also enjoys unobstructed connection to the west side of KL, via the new Besraya Highway, Middle Ring Road 2 (MRR2), and DUKE highway.

Additionally the property is also 10-km from the proposed Bandar Malaysia and a proposed terminal of the High Speed Rail development connecting Kuala Lumpur to Singapore via rail.

Commonly, developers would increase density to maximize profits. This is not the case with Hon Residensi developed by City Motors Group that has completed various property projects in Malaysia, Singapore, Hong Kong and Australia.

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