This site has quite a long history with interested parties and developers, before the current development took shape. The site in question sits on prime land just off Jalan Ampang, in a rather secluded enclave but very accessible to the city.
We are talking about the 60-acre site now developed by Acmar International, as a high end project called D’Rapport. We were actually part of a team that took a look at this site some years back on behalf of an interested client, but at that time there were some conditions regarding the status of the land. But let’s talk about the here and now. The developer has managed to get the a huge parcel of land, and with it planned an ambitious large scale project that is prestigious and set to be a major landmark along Jalan Ampang.
To get to this site, you need to turn off Jalan Ampang at the South Korean Embassy near the MRR2 interchange. Other than the embassy, this small enclave is made up of the a Korean school, some low rise apartments, and older bungalows. The proximity with the Korean embassy and school is not coincidental, the developer has brought in some heavyweight Korean investors to take advantage of this, and have started the marketing process in South Korea itself, and have reported to have done brisk business. Little Korea is quite nearby, up at the next traffic lights. They have recently just started to open up to local buyers and investors.
Let’s take a look at the development. There is 60 acres of land here, although it didn’t really seem that big when we surveyed the site after viewing the sales gallery. From what we can tell, there are four portions to the development. The first phase, called Complex 1 or Festa (!) is the current launch and is nearest to the entrance. The second phase, Complex 2 and also known as Heroes (!?) is on the other end of the development. This phase will be launched in the future, so details are quite sketchy although development concept will be similar to the Complex 1. Between the two complexes, is a large Lake Park which consists of the SMART tunnel overflow pond (yes, THAT particular SMART tunnel), surrounded by a recreational park with landscaped areas. This whole lake park actually accounts for about half the 60-acres, which partially explains why the scale of the development space is not that evident.
The 4th part of the development is some public buildings like a school, shopping mall, clinic & education centre and pre-school that is located beside Complex 1. These facilities will be open to public, but the other areas such as the lake park will not be.
Since the current launch is on Complex 1 Festa (!!), we will concentrate on that only.
Complex 1 is a massive development by itself, make no mistake about it. We are talking 1,099 units, 5 tower blocks spread over 10 acres here. On the ground floor, there are the retail outlets. On the 1st and 2nd you have extensive facilities, from sports courts, indoor driving range, gym, cafe, and even guest houses (always a great idea if you have lots of expats living here). The third floor is where the podium level is, and there are more outdoor facilities like tennis courts and numerous swimming pools and landscaped areas. The parking is located in a basement level, and on part of the commercial facilities floors.
There are 6 tower blocks, each with 34 floor of units, Block E has 35 floors (because of the penthouse at the top). Each floor has 6 units per floor, Block E has 8. So on the average there are about 200 per tower. Excluding the penthouse (4,496sq.ft.), there are 7 unit types, ranging from 1,100sq.ft. to 2,230sq.ft. The units are spread across the different towers, but each tower has only 2 to 3 unit types, typical from the first floor up to the highest.
The largest units at 2,230sq.ft. are designed as ‘elegant and spacious’, and is laid out in a almost 2:1 rectangle layout. There are 3+1 rooms, large living, no balcony (which we like) and a spacious entrance foyer. The second tier of units are from 1600 to 1800sq.ft., which are basically slightly smaller options of the above. And then there are the smaller range, which are quite interesting. You have angled units, and also a studio units with a guest area. At 1,100sq.ft. they are as large as normal condo, but here they have emphasized the concept differently, and we think it’s a refreshing use of space. Good for those single expatriates on the go who do not want to pay for space they don’t need.
The prices start at RM700psf. They reflect the intended market, and is about the going rate for a KLCC condo, although this is not as near as the condos that are marketed as such. Not for the average local investor. This is quite an interesting situation, actually. The local market, especially in the KLCC can be said as saturated, with most of the rich folks who are looking to buy have already bought any of the condos launched in the last 3 years. But some folks are already flipping their first luxury condo, and now with more buying power, this may seem an attractive investment. But again, it should be noted the pricing is on the high side.
The units come with freebies and built in items, please check with the salespeople for details. Maintenance fee is 25sen psf.
The developers are marketing as close proximity to KLCC and embassy row along the Jalan Ampang area. Actually more than half the units have been booked overseas, so the locals are not getting the prime units but this seems to be the prevalent trend in recent luxury. As we mentioned, this is a pretty massive development in what used to quiet enclave. Taking into account Complex 2, there are about 2000 units, imagine the number of cars pouring out onto the already congested Jalan Ampang. There is only one entrance / exit (beside the Shell station).
We think we should be asking some pertinent questions about foreign buying power (both Middle East and Far East) in our local property market, but that’s probably another discussion for another day. As for the condo alone, we don’t fancy the shopping strip at the ground floor. With flooding becoming a recurring concern in the city centre, an associate of ours wondered about the lake that’s used for the SMART tunnel. We’ll try to get more info from the salepeople. But i bet there’ll good kimchi around here soon, though…
| Project Name |
D’Rapport |
| Location |
Ampang |
| Description |
Luxury condominiums atop shopping mall |
| Land type |
Leasehold |
| Development size |
60 acres |
| Encumbrances |
Charged to Sabah Development Bank Bhd |
| Price |
from RM690,000 to RM5,518,304 (starting from RM700psf) |
| Unit size |
1,100 1,062 and 4,496sq.ft |
| No of units |
1,099 (for this phase) |
| Launch Date |
now available |
| Expected Completion |
Dec 2010 |
| Developer |
Perspektif Masa Sdn. Bhd. (JV between Acmar International and PNSB) |
| Contact |
03 – 4252 4888 |