Matahari, Sri Hartamas

Matahari is a freehold luxury condominium nestled in Desa Sri Hartamas, a hip and happening neighborhood. Wondering where is it? Just get into Desa Sri Hartamas and one can surely find its iconic feature, the Matahari Art Wall, a 24 × 7.4 metre stone carving at the entrance to the project, which was designed by Richard North Lewis, a renowned artist from Bali.

Matahari comprises of 9 condominium blocks that house of a total of 158 units with built-up sizes ranging from 3,900 sf to 5,500 sf with 40-foot widths. There are two types available – Superior and Penthouse. There are 17 units of penthouse available, while the remaining are superiors. Also, there are 24 different layout designs to choose from, ranging with 4+1 to 6+1 rooms, with 5 to 6 bathrooms.

There are only two units per floor. Each standard unit is furnished with built-in wardrobes, lighting fittings at selected areas, hot water in bathrooms and wet kitchens, cabinets under vanity counters and mirrors in bathrooms, and four air-conditioners. It is fitted with marble and granite in bathrooms and teak timber flooring in the bedrooms.

An average unit at Matahari comes with three parking bays, while four parking bays are given for the penthouses. Among its main features are large lanai area, separate guest suites for some units and 4 meter high ceilings. Views available from units include panoramic view of the city skyline and Desa Sri Hartamas neighbourhood. Other condominiums in Sri Hartamas include Matahari, and The Signature .

As Matahari is located meters away from Desa Sri Hartamas commercial area, residents are pampered with lush amenities within minutes of driving. At Desa Sri Hartamas commercial centre, one can find plenty of eateries, bars and pubs. Plus, several shopping centres are within close proximity as well, namely Hartamas Shopping Centre, Plaza Mont Kiara and Solaris Mont Kiara. There are two schools nearby; the first is SMK Seri Hartamas which is located right next to the project and another is SK Seri Hartamas, mere minutes away.

Property Details

• Name: Matahari
• Address: Desa Sri Hartamas, 50480 Kuala Lumpur
• Developer: Maymont Development
• Completion Date: End 2010
• Type: Condominium
• Tenure: Freehold
• of Blocks: 9
• of Storey: 5 – 10
• of Units: 158
• Land Area: 5.2 acres
• Built-up: 3,909 – 10,8223 sf
• Maintenance Fee: RM0.30 psf
• Launch Price: From RM3,107,666 (around RM775 psf)
• Subsale Price: RM10,000,000 – RM10,000,000

Facilities

• Swimming pool
• Pool deck
• Wading pool
• Gymnasium
• Function room
• Mutipurpose hall
• Outdoor terrace
• Changing room
• Badminton court
• Squash courts
• Sauna and steam rooms
• Children’s play area
• Reading room
• BBQ pits and gazebos
• Management office
• Drivers lounge
• Storage lockers
• Guest lounge
• Business centre
• Cafeteria at pool deck

Market Trends

Analysis

Being located on the hill slope, it has worried investors, buyers and even current home owners neighboring Matahari, as this massive project covered the entire side of the small hill. Therefore, the building stability and structure are quite questionable. Even though the developer has taken loads of infrastructure works, but for a pessimist, this factor is definitely a turn off for the person.

Matahari was launched back then in April 2007. So far, the developer has sold units housed in three blocks, which are scheduled to be completed by end of 2010. There are 100 units remaining, which were launched in November 2009. The remaining units which are all housed in the remaining six blocks will be completed by end 2011. The project is developed by Maymont Development, and this is the company’s maiden project.

Even though the developer stated that Matahari was launched in April 2007, the project was actually started in the end of 2006. The developer claimed that the project was launched a little bit late with only a few units released because those units are targeted at investors, as they provide detailed forecast on expected return on investments to customers.

Since its initial launch, the developer has only sold 58 units of Matahari, which another 100 units were kept for the last launch. This marketing strategy is quite awkward for the public, as most developer would give it all at the initial launch. Perhaps this is a unique strategy used by the property sales superstar, Mr Gerard Pereira, the one who sold out Armanee Terrace I and Bukit Kiara Residences. Investment wise, Matahari has great potential to shine once it is completed. Even though its price seems steep, but in terms of price psf, its price seems reasonable for a luxury condominium.