Malaysia Real Estate

[Question]

Any comment on the following article from TheStar? It says the developer is charging only RM162 per sf to "thank" the people. But isn't this a slap to the older purchasers of Ken1 and Ken2??


..biz.thestar.com.my/news/story.asp?file=/2005/8/22/business/11791323&sec=

Affordable condo units ‘bonus’ to buyers

CALL it a “farewell gift” or a “bonus” to purchasers. The fact is that construction-based group Ken Holdings Bhd will be pricing the KEN Damansara 3 (KD3), its last phase of its KEN Damansara condominium in SS2, Petaling Jaya from only RM162 per square foot.

This is probably half the price of condominiums in Mont’ Kiara and still cheaper than some of the new condominium projects in Subang Jaya.

The KD3 will complete the “trilogy” comprising two other phases - KEN Damansara 1 (KD1) that has been completed and occupied while work is in progress on KEN Damansara 2 (KD2). KD3 units will be cheaper than KD1 where the minimum price was RM196 psf when it was launched five years ago.

“We've made our mark in the area. We would like to thank the people for their support. That is why we want to build something that can cater to those who want to get into the condominium market. We want to leave this area with a good name,” said KEN Holdings Bhd special assistant to the managing director, Sam C.S.Tan.

He said a couple with a combined income of RM3,000 a month could own a KD3 unit which would be priced from only RM180,000 to a maximum of RM280,000.

It will have two types of units: 1,000 sq ft (RM162,000 to RM230,000) and 1,200 sq ft (RM210,000 to RM280,000). Both will have 2+1 bedrooms. He said KD3 would have the same if not better quality than KD1 but at a lower price.

There are some 1,400 registrants for the 216 KD3 units. A KD3 show unit has been completed while the existing KD2 show unit has been upgraded at the site sales office.

KD3 is a one-block apartment with low-cost flats on both sides. It will have about 300 to 400 car park bays.

KD1 and KD2 have 339 and 271 units respectively. KD1's (3 blocks) units ranges from 900 sq ft to 1,200 sq ft while KD2's (2 blocks) smallest unit with 1,291 sq ft has been sold out. The 1,565 sq ft type in Block B (facing KLCC) has also been snapped up.

“We want to offer to people what they can afford. It is no point giving them something they cannot afford,” said Tan, 25 who is fast learning the business from his father Kenny Tan, the group’s managing director.

Compared to KD2, the most expensive unit in KD3 would still be cheaper than the cheapest unit in KD2. For example, a 1,200 sq ft unit on the highest floor in KD3 will be priced at about RM280,000 and it comes with two free parking bays while a 1,291 sq ft unit in KD2 with only one bay was priced at RM290,000.

KD1, launched in 2000, was delivered 10 months ahead of schedule and has enjoyed good capital appreciation. KD2 offers larger sized units and enhanced features. Launched last June, it is 70% completed and should be completed ahead of schedule by 10 months, Tan said.

He said KD2 has achieved about 70% sales. The units are priced around RM230 psf to RM240 psf.

Of the eight penthouse and four super-penthouse units in KD2, only four penthouses and a super-penthouse unit are left unsold.

The super-penthouse has a huge 5,000 sq ft size and is priced around RM1.1 mil or only RM220 psf.

Tan said KD2 has reinforced concrete wall up to Level 17 while the floors above that, where the penthouses are, have conventional brick walls with columns to allow owners the flexibility of choosing their own layout designs.

Tan, who is an engineer by training, said his father would walk around the KD2 blocks to ensure that there was no wastage of electricity. For example, KD2 blocks have timers that could turn off the lights in certain common areas to reduce cost.

He said this would benefit the residents, as they would not have to pay higher monthly maintenance charge that stands at 18 sen psf.

[ultraman]

[Question]

From the article:
"KD3 is a one-block apartment with low-cost flats on both sides. It will have about 300 to 400 car park bays."


Maybe what ultraman says is correct? Maybe Ken3 is not low-cost, but situated next to low-cost flats will be a problem. Will the low-cost flats be also sharing the facilities with Ken3?

[nick1994]

being situated next 2 low cost flats will definitely lower the condos value........likewise ...

...being situated next 2 a condo will gererally increase the low cost flats value.......

ALL OTHER THINGS BEING EQUAL.......

...general rule of averaging towards a mean..................................

[raistlin]

A “farewell gift” or a “bonus” that cost RM180-280K? Hmmm....

[ylime]

i'm just wondering whether the 2 low costs flat is also from KD3 developer or not ??

btw, if they (developer) already has 1400 registrants for their 216 KD3 units, does that mean all units r sold out ?

[Banzai]

It means there are 1400 kaypoh person. Doesn't mean anything other than that.

Sounds interesting though. Too bad i am not back to have a look at it.

[mercuri]

just being busybody here, I wonder collectively how many units are there in Ken 1,2 and 3? Is there any other access roads? If there isn't I wonder during peak hours how would the traffic be?

[KCL]

Hi all. Am new to the forum, hope can learn more and exchange info from the sifus. Was actually interested in the Ken 3 project after reading it in the papers as it is not too expensive and I MAY be able to afford it. Hope to find out: Where exactly is the location? Which road to use to get to the site? Heard traffic may be a nightmare later on. Any other projects nearby around the same price?

Thank you in advance!

[Question]

realtalk/kychong/noor

what are your views on this?

[ACDC]

Isn't Park 19 going to be there too?

[KCL]

Any idea how much is Park 19 going to launch for and when are they planning to launch? If the price diff. is not much, which would be a better investment?

[Noor713]

Question,

I dont think I am the right person to fill in the gaps here. I am no expert.
Anyway, I still stick to my motto in property investment - `SEEING IS BELIEVING'. In simple words - I will never ever buy property which is still in thin air.

Cheers mate!

[vin]

[kychong]

[commander]

Park 19 under which developer ?

[realtalk]

[ylime]

anyone been to the sales office of ken 3 ?? Was there any show unit ?

[blaster]

Been to the Ken2 Show room last week. Saw Ken3 model there. Show unit not up yet

[propcritic]

Personally, I wouldn't consider Ken3. It is neither good for investment or for staying. Just my personal opinion. Reasons:

Not good for investment -

- Sandwiched between 2 low costs flats within the vicinity of squatters.
- No one will subsequently buy from you at a high price since it is being built within squatters.
- Not good for rental since a bit far off from KDU, unlike Ken1&2 as well as Casa Damansara. Students who can pay higher rental would have opted for Casa 1, the nearest to KDU.
- Park19 and Casa Suites would be much better buys.

Not good for Staying -

- Security. Neigbourhood not so appealing. If not squatters, low costs flats.

- Because they are so cheap, most (poor owners) may not even pay up maintenence charges. Therefore, common areas will not be maintained if there are shortage of funds. Read the front page of The Star today (29/08/2005).

I would rather purchase Casa Suites. Much better location and Dijaya is known for it's above average property maintenence. If I have a higher budget, I would consider Ken 2 instead of Ken 3 since location is 10 X better and the profiles of owners and occupants are definitely better. From my experience, it is only worthwhile buying a condo that is able to upkeep it's common areas and facilities and more often than not, cheap condos like Ken 3 will find difficulties in funding its maintenence because cheap-skate buyers are normally associated with those who will default in their monthly maintenence payments.

Just my 2 cents.

[Question]

Called the office and they told me that it was launched on 31st august.

Drove over to have a look at the area but couldn't seem to find it. Is it on Jalan SS2/72? Drove through that road and saw Jasmine Towers, some low cost flats (under construction) and old houses, but ended up in a dead end.

[Y2K]

[greenfields]

enter from sprint highway through damansara intan. go straight and u'll reach ken 1 on the right. Ken 2 under construction on the left. next to it is the sales office/showroom.

[PL]

Has anyone gone to see Ken 3 show unit?? Is it as worthwhile as they advertised in the newspaper??

[Question]

PL, you've seen the ad for Ken3 in newspapers? Which newspaper was this?


Oh, by the way, when I was driving through Jln SS2/72, saw squatter area along the road. Quite surprised to see this near to Jasmine Towers.