Idaman Residence, Jalan P. Ramlee
Following our preview of this place some time back, we are now doing a full review. This project has embarked on a huge marketing campaign with banners all over the KLCC area and print ads in the newspapers. The management and their directors have also been interviewed and featured in the local business papers.
Idaman Residence is situated on a piece of land along Jalan P. Ramlee, opposite the developer’s flagship Menara TA. This spot, opposite the Mandarin Oriental, has a vibrant nightlife especially along Jalan Pinang, and has an excellent view of the Petronas Twin Towers if you’re looking for that.
Obviously the marketing people are pushing the proximity to the KLCC park and amenities like the LRT, business centre, shopping paradise, food haven, and pretty much everything the city centre has to offer.
The site itself is fairly large, able to accommodate lots of driveway space and surface parking. The bulk of the bays are located indoors. There is also an impressive entrance foyer with water feature and landscaping. Ground floor is where they have the facilities like swimming pools, gym, function halls, and a playground. In all, there isn’t much in facilities compared to what is offered by the competition, but they are marketing it from the viewpoint that whatever facilities you need is within walking distance from the condo itself.
They are emphasizing quite a bit on the security features of this place, with Entrance Guard Sentry, Swipe Card system, panic button, CCTV, intercom to guards, and an assurance ‘that the best people are acquired to safeguard you’. Actually top notch safety features like these are standard features in most of the luxury condos in this area. Almost everyone is offering the same high-tech security systems, so it’s really difficult to tell if one system is superior to the next.
There are 9 units on each floor, they are either facing KLCC or not. The 9 units are actually one of each main type (A to I), and all units of the same type (or its variant) are located on the same location in the overall layout. For example, the unit at the northernmost point is always type A on every floor. As for the unit layouts, there is the variety to choose from, but they range from 2 bedrooms to 3+1. All of them have irregular shaped footprints, so-designed to give the building façade an angular look. This feel is accentuated by the balconies – it plays an integral part that makes the building design appealing. The balconies themselves are almost always tapering in width, long and narrow, at times wrapping around a corner of the unit. We find the design concept refreshing.
If you count all the variations of the main 9 layouts, there are in fact a total of 25 different designs. So you can’t really complaint about a lack of choices. Type H (2 bedroom, 877 to 929sq.ft) and B (2 bedroom 1,035 to 1,075sq.ft) are the smallest, they have more of a studio unit feel to them, investors targeting expatriate renters will be looking at these types closely. Type I have 3+1 rooms but are of mid-size (1,607 to 1,793sq.ft), so the living area and other rooms are slightly smaller. The largest units with 3+1 rooms are Type A (2,174 and 2,096sq.ft) and D (2,100 and 2,107sq.ft). They’re not really big in comparison to some units offered by their competition, but it is the overall concept of this development to have the units in the narrow 1,000 to 2,000sq.ft area range, as it fits the target market of their choice.
The average pricing of the units is at RM750sq.ft, which is average for this area. There are 248 units in all, which is quite high density.
On the whole, we like Idaman Residence. The location cannot be faulted (peak hour traffic jam notwithstanding), its proximity to that famous landmark should sell more than a few units. The odd shaped design sets them apart from some of their neighbours, we especially like the façade and emphasis on large living rooms. So really, no major complaints. They are throwing in some freebies with the unit such as kitchen cabinets and some appliances.
Many people view that Idaman Residence has entered the luxury KLCC market at the time when the market is almost saturated and with the outlook for this niche softening. While this may be true, the developers are optimistic of selling well, and the sales indicators look that way too. Although the pool of potential buyers is a lot smaller than it was one year ago (going by the adage that “those who want to buy have bought elsewhere earlier already”), there are still emerging buyers entering the small niche. This, in general bodes well for our economy, since a sizeable percentage of this market are made up of foreigners.
| Project Name | Idaman Residences |
| Location | Jalan P. Ramlee, KL |
| Description | Luxury condominium in KLCC area |
| Land type | Freehold |
| Land Encumbrances | Nil |
| Price | RM577,000 to RM7,062,000 (average about RM750psf.) |
| Unit size | 877 to 2,174sq.ft |
| No of units | 248 |
| Launch Date | now available |
| Expected Completion | Oct 2008 |
| Developer | Orchard Park Sdn. Bhd. (member of the TA Group) |
| Contact | 03 – 2032 2218 Toll free: 1-800-88-8082 (M’sia) Toll free: 800-6011325 (S’pore) |
| Website | http://www.ta.com.my |
RM7 million seems a bit over priced for a piece of real estate in the sky. I believe for RM7 million, one can get a nice bungalow (even Damansara Heights is possible) with a much bigger space but I suppose their target segment is very different.
Comment by preacher — March 28, 2006 @ 4:37 pm
i get the feeling the RM7mil penthouses are only for the directors, and that prolly their 4th holiday home… but other than that the standard units are decently priced… mostly.
Comment by Administrator — March 29, 2006 @ 10:05 pm
The best development in KLCC area. Considering it land status, which is residential and its proximity to KLCC in about 3 mins is alreasy above the rest. Mid size unlike many development with 2300 sq ft and above or around 600 sq ft.Pricing is around RM730 per sq ft. So where is the the closest competitor? None isn’t it?
Comment by BEN — April 21, 2006 @ 2:22 pm
Apparently only
Comment by Kim — April 30, 2006 @ 5:17 am
Learn that less than 40% sold. What happens if they do not reach sales target? Will developer delay or abandon construction? Sounds risky for the buyer in this situation.
Comment by Kim — April 30, 2006 @ 9:17 am
You should look at the bad workmanship in Manara TA. Lift that does not function, and breakdown very often.
Comment by James — May 22, 2006 @ 7:23 pm
I did not see any preview on The Troika and Marc Service Residence . Since everybody (well most of those interested in this subject anyway) is talking about it, its kindda strange not to hear about it from you. Is it deliberate or have I missed something?
Comment by goldfinger — August 16, 2006 @ 7:38 pm
simple. when we went to see marc service residence more than a year ago (before we started this website), it was almost sold out (with out odd units left) so we didn’t do a review.
besides, i doubt many people are still talking about them as there are literally dozens of other newer and more exciting projects since then.
Comment by Administrator — August 17, 2006 @ 11:39 am
I agree with most of what you said, in fact I like this development myself. But when you mention “… and has an excellent view of the Petronas Twin Towers if you’re looking for that….” Iam not sure, but if I understand the salesperson correctly, most if not all of the building view towards PTT will be obstructed by menara TA. The one with good view ot PTT will be launch in future on a plot of where the show house currently is. (unless you are referring to Jln Pinang, not Idaman itself) I supposed I’ve been hearing about Marc because people are comparing the two. By the way as for TROIKA I think they have oversold the Norman Foster brand, at that price it is really, really bare compare to what you are getting from most others. Cheers
Comment by goldfinger — August 17, 2006 @ 2:56 pm
It is about 50 percent sold as per jan 2007.
Comment by Bill — January 28, 2007 @ 8:45 pm
Two monts ago, I wrote that sales was 50%.
Well I have heard that it is more than 60% now and units being sold with increasing speed.
In addition, priching increased by 25 psf and another rate coming after April, maybe to 800 psf.
These are good signs.
Comment by Bill_again — March 24, 2007 @ 6:36 pm
Latest (unofficial) sales figure is 75% sold.
Comment by Bill_again2 — March 28, 2007 @ 1:07 pm
OK now it is mid April. Idaman got 8 units left. So it is 97% sold. Price from developer has increased from 730 psf in Jan 2007 to 930 psf in April 2007. That means 200 psf increase in 3 months.
Comment by Bill_again — April 15, 2007 @ 11:54 pm