The Troika, KLCC

The Troika is one of the most prestigious and preferred addresses in the city of Kuala Lumpur. This mixed development project, which has a gross development value of RM650 mil, is undertaken by established property developer BRDB and designed by world-renowned British architectural firm Foster & Partners.

Located at the intersection of Pesiaran KLCC and Jalan Binjai in the affluent Kuala Lumpur City Centre (KLCC) enclave, The Troika is listed as one of the top ten most expensive luxury condominiums in the country. The security features at The Troika are rather run of the mill. These include card access control at all main entry points, automatic boom-gate and CCTV cameras at strategic access points.

Some standard features of The Troika include fully-fitted bathrooms and kitchen (a RM100,000 refund is given to buyers who prefer not to have their kitchen outfitted), hot water and centralized vacuum system, imported marble flooring, Low-E window glass panels to effectively block UV rays, and an inverter control air condition system to regulate and maintain a constant temperature throughout the apartment.

Property Details

• Name: The Troika
• Address: Pesiaran KLCC / Jalan Binjai, Kuala Lumpur
• Developer: BRDB
• Type: Condominium
• Tenure: {Tenure}
• No. of Blocks: 3
• No. of Storey: 38, 44 and 55
• No. of Units: 229 (2 units per floor)
• Built-up: 960 – 21,688 sf
• Launch Price
• SoHo: From RM1,015 psf
• Standard: From RM920 psf
• Penthouse: RM57 millions
• Subsale Price: {Price Range}
• Rental: {Rental Range}

Layouts

• SoHo (960 – 1,800 sf)
• Standard (2,000 – 3,336 sf)
• Penthouse (5,443 – 21,688 sf)

Facilities

• 30,000 sf landscaped courtyard
• Swimming and wading pools
• Timber deck
• Gym/aerobics facilities
• Games room
• Indoor and outdoor recreational areas
• Function hall
• Jacuzzi/sauna rooms
• BBQ area
• Laundry and housekeeping services

Awards

• The CNC Best International High-Rise Architecture 2008
• 5 Star Best High Rise Residential (CNBC Asia Pacific Property Awards)
• 5 Star Best Architectural 2008 (CNBC Asia Pacific Property Awards)
• Cityscape Best Developer Award in the Future Residential Category

Analysis

The Troika is essentially a self-contained complex. The soft launch was held in September 2005. Initially the completion date was slated for mid-2009 but has now since been pushed back to end-2009. More than 55% of its buyers are foreigners. Units are still available from the developer. Spread over 2.13 acres, The Troika comprises three residential towers of 38-, 44- and 55-storey blocks which house a total of 172 luxury serviced apartments and 6 penthouses; 57 small office/home office (SoHo) units; retail outlets; boutique offices and restaurants. There are only two units on each floor.

The approximate built-up areas of SoHo units range from between 960 – 1,800 sf. When it was first launched, the average price was approximately RM1,000 psf. Four years later, a SoHo unit’s value has appreciated by more than RM500 psf. Each unit is allocated one parking bay and comes with broadband access, as well as fully-fitted bathrooms and kitchen. SoHo units have entrances separate from the apartments, but its owners can make use of all the facilities and services available at The Troika.

The approximate built-up area of standard apartment units ranges from between 2,000 – 3,336 sf. When it was first launched, the average price was approximately RM920 psf for a standard unit. Four years later, its value has appreciated by approximately RM600 psf. A standard unit is allocated two parking bays. The approximate built-up areas of the penthouse units range from between 5,443 – 21,688 sf. No selling price was available for these penthouses but one unit was sold for a cool RM57M.

One of the main selling points of The Troika is the superb view of Darby Park, Petronas Twin Towers , Binjai 8 and the Kuala Lumpur city skyline. In fact, the architects introduced the concept of a “twisting building” design and use of shear walls for each of the three residential towers to capitalize on this. However, it is worth noting that there is an as-yet-undeveloped parking lot adjacent to KLCC. Possible future building construction on this lot may affect the views apartment owners of Tower 1 enjoy. Also, Zen Suites in the neighboring vicinity may block the view of certain units in Tower 3.

The Troika is a short two-minute walk from the Ampang Park LRT station (250 meters), and just a little further away is KLCC (400 meters). It also enjoys easy access to Jalan Tun Razak and SMART tunnel. However, traffic can be really horrendous during peak hours, weekends and certain public holidays since it is located in a “happening area” albeit on the quieter side of the commercial crowd and the main tourist attractions of KLCC and Petronas Twin Towers. The freehold land upon which The Troika is built is gazetted as commercial land so utility rates will be higher compared with similar properties built on residential land. Not that this should really matter much if you can afford to park your money on a piece of this real estate.