Sri Penaga, Bangsar

Sri Penaga is one of the earliest condominiums in Bangsar. It is positioned just opposite of Bangsar Shopping Complex at the junction of Jalan Maarof and Jalan Penaga. It comprises two tower blocks with a row of low rise townhouses and pool area in between. There are a total of 304 units with 13 different sizes to choose from. Among its other immediate neighbours are Sri Wangsaria, and Bangsar Villa.

There are plenty of amenities available within short distance from Sri Penaga. Just across the street, you can reach Bangsar Shopping Centre, a favorite spot for expatriates to hang out with friends and family. There are several fancy cafes and eateries in the centre such as Alexis, Grand Imperial, Dome Cafe and La Bodega. One can also take a short trip to several other prime shopping malls like Mid Valley Megamall, The Gardens, 1-Utama Shopping Centre, Bangsar Village and The Curve.

In addition, Telawi street is within minutes from the condominium. There are plenty of bars, restaurants, pubs, book stores, banks, and clothing boutiques nestled in the centre. In terms of accessibility, there are a number of highways adjacent to Sri Penaga, including SPRINT Highway, Federal Highway, New Pantai Expressway (NPE) and Penchala Link. You can reach Damansara Heights within 5 minutes, Kuala Lumpur city centre within 15 minutes, Damansara Utama within 5 minutes and Sunway within 10 minutes if the road is clear.

Property Details

• Name: Sri Penaga
• Address: Jalan Penaga, 5900 Bangsar, Kuala Lumpur
• Developer: BRDB
• Completion Date: 1996
• Type: Condominium
• Tenure: {Tenure}
• Built-up: 1,033 sf to 2,497 sf for normal single floor unit
• No. of Blocks: 3
• No. of Storey: 24 (tower)
• No. of Units: 304

Facilities

• Barbecue area
• Business centre
• Cafeteria
• Club house
• Covered parking
• Gymnasium
• Mini market
• Playground
• Salon
• Sauna
• Launderette
• Squash court
• Swimming pool
• Wading pool
• Tennis court
• 24-hour security

Analysis

Bandar Raya Developments Berhad (BRDB) is best known for Bangsar developments. The company is behind most of the residential as well as commercial developments in the whole Bangsar vicinity. This renowned company also ventures in other developments in Kuala Lumpur, Permas Jaya in Johor as well as a 400 acres high end mixed development in Lahore, Pakistan. Currently, it is developing the iconic Foster & Partners designed The Troika, located meters away from Petronas Twin Towers in the heart of the city.

Even though Sri Penaga is already a decade of age, it is very well maintain by Azmi & Co and its security is reasonably good. Perhaps, this is because of the strong resident association and also Azmi & Co credibility in building management. Besides that, even after several new residential launches in Bangsar, such as Bangsar Peak and One Menerung, which foresee most residential prices have decreased, Sri Penaga price keeps heading north. This portrays the strong demand possessed by Sri Penaga despite of new launches. Most claimed that this scenario is because, expatriates would prefer to live together with their expatriate families and friends, which Sri Penaga is mostly occupied by this group of people. Another condo of the same senario would be Casa Vista.

Sri Penaga is a favorite residential among expatriates against other condominiums in the same league like Cascadium, Contessa and Casa Vista. Cascadium is cheaper but costs higher maintenance fee and there is lack of parking spaces. Meanwhile, Contessa is a low density development, thus its maintenance is also quite high. As for Casa Vista, mostly the units in its two high rise towers are preferred by expatriates which are normally already occupied. It would be great if you could get hold of one of those units as they have got a wonderful panoramic view of the KL city skyline. Not only that, Sri Penaga and Casa Vista is preferred due to its close proximity to Bangsar Shopping Centre. It is just walking distance away.

In terms of investment, if Bangsar is really your cup of tea, then Sri Penaga and Casa Vista high rise towers should top your investment portfolio option. But bear in mind that these are hot properties in Bangsar, thus you might have problem to find units for sale, unless you are willing to pay a premium to get a unit. As the world is currently suffering global economic downturn, there is a slight chance that Sri Penaga and Casa Vista price will fall due to this. If it really happens, take out your cheque, and own a Sri Penaga or Casa Vista unit.