Menara Hartamas, Sri Hartamas

Menara Hartamas is a low density freehold condominium located in Sri Hartamas, a sought after address in Kuala Lumpur. It is another property development by Mayland. It comprises of a 10-storey tower condominium block that consists of 136 condominium units. Each unit comes with 3 to 5 bedrooms and 2 to 5 bathrooms. Built-ups start from 1,560 to 3,250 sf.

Menara Hartamas is located strategically within walking distance to Hartamas Shopping Center and SK Seri Hartamas. There are numerous commercial activities within short distance, as Plaza Damas is also located within short walking distance, as well as the new Plaza Damas 3. Being located besides the “Global Village” Mont Kiara, expatriate occupants can send their kids to numerous international schools in the vicinity namely Garden International School, Sri Cempaka International School and Mont Kiara International School within short driving distance. Plus, Menara Hartamas is also nearby Taylor’s College. Menara Hartamas is also considered one of the best condos in Sri Hartamas.

There are plenty of road and highway accesses available within Sri Hartamas. For instance, one can utilize its direct access to Jalan Duta to reach Jalan Kuching and head to the city center. Also, one can use PLUS highway to head north via Jalan Duta. Alternatively, SPRINT highway is also adjacent to Sri Hartamas that leads to Damansara Heights, Bangsar and Damansara. Furthermore, it is also nearby Penchala Link, Duke Highway and Kerinchi Link.

Property Details

• Name: Menara Hartamas
• Address: Jalan Sri Hartamas 3, Sri Hartamas, 50480 Kuala Lumpur
• Developer: Mayland
• Type: Condominium
• Tenure: {Tenure}
• No. of Blocks: 1
• No. of Storey: 10
• No. of Units: 136
• Built-up: 1,560 – 3,250 sf
• Maintenance Fee: RM0.25 psf
• Subsale Price: {Price Range}
• Rental: {Rental Range}

Facilities

• Swimming pool
• Sauna
• Gymnasium
• Tennis court
• Jacuzzi
• Squash court
• 24-hour security

Market Trends

Menara Hartamas, Sri Hartamas Average For Sale Price

Analysis

Mayland is the developer for most developments from residential to commercial centers in Sri Hartamas enclave. The company is originated from Hong Kong and have developed a handful of developments such as Hartamas Shopping Center, Hartamas Superlink, Dorchester, Mayfair, Windsor Tower, Waldorf Tower, Maytower, Parkview, and Prima Regency in Johor Bahru.

Mayland is one of the infamous developers in the country. The company has delivered a number of bad workmanship and low quality developments, and also bad maintenance as well. One of the worst Mayland’s developments is Sri Putramas I, which was delivered late to its owners with cracked on walls, loads of defects and cheap quality paint. Most of Mayland’s properties are associated with depreciation in value, but Menara Hartamas is an exception together with Mayfair and Dorchester.

There used to be security issues in Menara Hartamas, but none reported lately. In 2006, there were 4 burglary cases reported within 1 and a half month periods. Even after the incidents, the residents claimed that the management did not improve the security. Even with lacks of security measures and bad maintenance, residents are required to pay about RM0.25 psf per month for its maintenance fee which is quite high. The security issue has now been resolved, and remains a good place for investment with the coming of new development next door, the palace view and also the new high end condo Sunway Palazzio.

In terms of capital appreciation, the price of Menara Hartamas has appreciated approximately 5.35% per annum since 2003 to 2008. Similar to its rental yield, it has appreciated approximately at 5.34% per annum within the same period. But the price staggered within the same price range around RM400 psf. Investment wise, there is still high possibility for capital appreciation due to high demands for residential in Sri Hartamas, as well as it will enjoy good view of the whole new Istana Negara, which is currently under development.