Almaspuri, Mont Kiara

Almaspuri is a freehold medium-end condominium residing in posh Mont Kiara neighborhood. It was developed and managed by reputable BT Homestead Group, who is also the same developer for Angkupuri in Mont Kiara and Anggun Puri in Segambut.

Almaspuri comprises two towers which consist of 132 units and each floor is only limited to four units making each a corner unit allowing residents to enjoy 180° views of the surrounding scenery.

There are several route options to get in and out of Almaspuri. Via NKVE, Penchala Link, Jalan Duta, Jalan Kuching and SPRINT highway, motorists can reach Kuala Lumpur city center, Petaling Jaya, Taman Tun Dr Ismail and Bangsar within minutes of driving. Even E1 Jalan Duta – Sg. Buloh highway is just about three hundred meters away from the entrance.

Motorists can reach Kuala Lumpur city center within 20 minutes and Damansara Heights within 10 minutes. In addition, residents can also find leisure in renowned Desa Sri Hartamas enclave, which is located just next to the neighborhood. There are plenty amenities and facilities residing nearby the area.

Almaspuri is within walking distance to Mont Kiara International School. Also, there are other international schools situated nearby, such as Garden International School and French International School. Plus, Plaza Mont Kiara and Solaris Mont Kiara are also within reach for residents to buy daily necessity or chat with friends and family.

For golf enthusiasts, one can hit the green at KGPA, KLGC, Tropicana Golf and Country Resort and Sri Selangor Golf Club which are not far from the area. Also, Bukit Kiara Equestrian Club offers good recreational activities for the whole family. Plus, you can also join Royal Selangor Club which its clubhouse is just located a few miles away.

Property Details

• Name: Almaspuri
• Address: 18 Jalan Kiara, 50480 Kuala Lumpur
• Developer: BT Homestead Group
• Type: Condominium
• Tenure: {Tenure}
• No. of Blocks: 2
• No. of Units: 132
• Built-up: 1,545 – 3,500 sf
• Subsale Price: {Price Range}
• Rental: {Rental Range}

Layouts

• Standard (1,545 sf)
• Penthouse (3,500 sf)

Facilities

• Landscape garden
• Swimming pool with cascading waterfall
• Children’s playground
• Tennis court (x2)
• Multipurpose function room
• Reading room
• Nursery
• Full size well equipped gym

Analysis

From the outer look, one can notice that Almaspuri together with its twin brother Angkupuri, are both having average-Joe facade and being sandwiched between modern residential in the area. Even though both condominiums may look less appealing, but their price tag seem not make too much difference from other Mont Kiara’s condominiums with a higher Sunrise reputation.

However, when one looks deeper and compare other faceless condominiums built around the same time as this condo, e.g. Palma and Pines, Almaspuri with its classical design stands out as one of the better looking ones around.

The management seems capable, being able to maintain the compound cleanliness as well as the facilities provided. The management has to be given credits though, being able to give the property a fresh coat of paint in 2007 without having to ask the owners for cash unlike some condos nearby.

Take note that most people assume the best management in the area is provided by Sunrise, but ask any resident of Sunrise properties and they will tell you otherwise. Almaspuri has one of the highest occupancy rates (more than 80%) within Mont Kiara, a reflection of management effectiveness.

Historically, the selling price for Almaspuri has appreciated by about 3.18% per annum from the year of 2003 to 2006. As per all properties in Mont Kiara, rental has depreciated due to the increase in supply. Comparing it with other newer and fancier condominiums in the area, this condo still commands a very respectable return on investment.

A well renovated unit at Almaspuri can easily generate a net return of more than 5% at today’s prices. Compared to the other overpriced newer properties, which in some condos are difficult to rent and if rented generates much poorer yields.

Tenants who have in the past moved to newer developments like i-Zen have returned acknowledging the tranquility of Almaspuri. One can walk peacefully under the foliage of matured tree lined paths to those important facilities like the Kiara International school, supermarkets, restaurants, pubs, post office, banks, and McDonald’s.

When looking into buying properties the main 3 rules apply. Location, location and location. Most of the newer developments suffer from poor location either being too close, or worse just next to busy major highways or the wrong side of Mont Kiara such as Segambut Dalam.

Mont Kiara Meridin, one of the newer developments just a few hundred meters further down, suffers because of its location – modern and clinical white. Why are the expatriates not making their homes in Meridin? Garden and swimming pool in the sky, once those gimmicks wear thin, one soon realizes one is entombed in concrete with not a tree in sight. Not Almaspuri. It has warmth, it has character, it is homey.

Go to Mont Kiara at night and look at the condominiums. Look at Almaspuri and its sister development, Angkupuri. Look at the lights in the apartments, which are mostly lit up and not empty.