Property Malaysia

The first phase to this project was launched some time back (we did a preview of this here before) and the developers are gearing up for the second and last phase within the next month or so.

This project was previously owned by Talam before their spectacular fall from grace (or should we say descent into darkness…), with construction giant IJM coming in to buy out the more promising parcels of land within Talam’s vast landbank in Klang Valley, and Monte Bayu was one of the few. The latter (and their aggrieved housebuyers) would have hoped for IJM to rescue Talam and Kumpulan Europlus, thereby injecting the much needed cash to revived all or most the ailing projects, but it would seem that IJM are fast losing interest to sign the dotted line. Rumour has it that they’ve since found out about numerous technical and authority problems with most of Talam’s so-called ‘can easily launch soon‘ projects, this has probably not helped the pending deal. Besides, it looks like IJM will be channeling their financial resources to buy out their rival Road Builder.

So this plot of land is located on the slopes of a hill, affording and excellent view of the KL city skyline on one side and greenery on the other side. There are plans to develop some landed units with the remainder of the land, but that would probably be some time in the future. Right now, they are working on the foundation of the building and the condo is expected to be handed over mid 2009. While hillside developments may strike concern with buyers these days (not to mention the neighbours), the developers are quick to point out that the condo is sited on a very strong granite hill, plus being the premier building contractor in the country, they are experienced enough to handle it, unlike some two-bit penny pinching contractor.

We tend to agree with this conclusion, taking a drive up to the site, you can clearly see the existing granite rock face which was exposed many years ago when they building the apartments on the way leading up to Monte Bayu. However, we must emphasize that this does not qualify anything, the developer is still very much responsible to adhere to good engineering and building principles, and buyers are encouraged to personally check out the location and ask pertinent questions to them.

To get to this place, turn off the MRR2 at the Jalan Kuari interchange in Cheras, and after driving in for about 2km, you’ll see the sales office. On the hill behind, you can clearly see the huge Monte Bayu billboard located at the 7.85acre site (see photos below). On the road going up the hill, you’ll pass by some light industrial lots, and existing low cost apartments. Some people tend to think of Cheras in a particular way, especially this area near Kampung Baru Cheras. Although this place isn’t as notoriously jammed as the newer areas of Cheras, this isn’t a place most people perceive as a growth or investment area.

According to the salespeople, the hill is part of a government forest reserve.

Below: Some photos taken recently.

Because of the rocky sub-terrain on the hillside, the building has visible quite high stilts, giving it a ‘Genting’ look. This results in features you don’t normally see in other condos – like some floors being lower than the road level (which didn’t turn out to be very popular) and since no sub-structure floors were constructed, there is a massive 7-storey parking annexe to cater for the residents.

This condo is targeted at the entry level market, with minimalistic high density units and competitive pricing. There are only 2 unit types, Type A (830sq.ft) and B1(1,135sq.ft). The earlier launched Block B has 14 floors per unit, whereas the coming Block A 14. Units are either facing towards KL, or the other direction towards Cheras. Some are pool view, too. Due to having so many units per floor, some are intermediate units, and some are corner units with 2 sides of view. However, Block B has a special unit with 3 sides of frontage every floor.

Type A (830sq.ft) has 3 bedrooms and 2 baths. No miad or store room. Both baths are equally small, and the yard is about the same size. The rooms are not as small as you’d expect from this unit size. There’s is a balcony. Type B1(1,135sq.ft) is a more spacious version of Type A.

With the unit layout, Type A is more suited for bachelors and renters, especially those looking for a cheap place to stay that is near to the city. That would make the minimalist design and finishing sensible. The view is an added bonus. Type B1, with the larger master bedroom and attaching bath, and would also be the same, but this may also attract small families.

We like the fact that the developer is offering two parking bays per unit, this will reduce (not eliminate) the number of illegal parkers along the road outside the condo so common with other places.

With the large podium above the parking structure, the developer has ample space to put lots of stuff like swimming pools, basketball courts, playground, indoor badminton hall and landscaped parks. There is also a miniscule sky terrace for each tower block. Its one of those things you’ll go and see it the first month of moving in, and not so much after that.

The finishing and specifications are entry level, mostly ceramic tiles all round. Service charge is 16sen psf.

As a whole, IJM has done a pretty good job for this project, working well to capture the target market. The site has a good view, but the surrounding areas would prove to be a hard sell. But this hasn’t really been a problem so far, with most of the units in Block B snapped up. As we mentioned earlier, it suits the young working crowd well, with its proximity to the city via MRR2 (you’ll have to endure the daily Pandan Indah jam, though). But ideally you’ll need your own transport though, the nearest LRT is quite far. You wouldn’t want to walk up the hill everyday. In terms of pricing, it isn’t extremely cheap, (but not expensive either) starting from RM150psf for Type A and RM180psf for the larger B1.

Generally, we liked it. Cheras isn’t for everyone, but it would interest the upgraders from the surrounding matured neighbourhoods. It’s leasehold, but this factor doesn’t weigh so much for the target market, not like say, RM500k bungalows. But it is high density, though, with 530 units in total.

IJM Properties is the property development arm of the conglomerate IJM, which has diverse interests. In the last two years, they’ve aggressively embarked on landbank building, and recently launched a few projects, besides their building projects for other developers (although that is by their construction arm).