The Meritz, KLCC

The Meritz is a high rise residency strategically located right opposite the Petronas Twin Towers, or well-known as KLCC. It was developed by renowned DNP Tanahniaga which is the subsidiary of DNP Holdings. Basically, it offers 2 types of units to choose from. One that is measuring at about 1,400 sf, and consists of 2 rooms. Another one is measuring about 1,500 sf, and comprises of 3 rooms.

Additionally, there are another four units of duplex penthouses, which also consist of 3 rooms each. The Meritz that soars at 31-storey high comprises of 6 levels of parking lots, 2 levels of common facilities housing its facilities including swimming pool, Jacuzzi, gymnasium, function room and sauna. The rest of the storeys are residential units which each consisting of 5 units per floor.

The Meritz is well-located in the centre of Kuala Lumpur hub. Within walking distance, residents can reach renowned KLCC and almost all public transportation hubs available in Malaysia including Putra LRT KLCC, bus and taxi. Moreover, for golf enthusiasts, there Royal Selangor Golf Club located just within 3 kilometers. For kids’ education, there are Fairview International School, Sayfol International and Alice Smith International School located nearby.

In term of access roads, residents of The Meritz can access to Jalan Mayang via Jalan Ampang and Jalan Kwan Yap Seng. Motorists can use Ampang-KL Elevated Highway (AKLEH) from Jalan Tun Razak to get to Ampang and also take benefit of Jalan Tun Razak to go south to Seremban, Putrajaya and Cyberjaya or heading north to Petaling Jaya, Mont Kiara, Bangsar and Klang.

One should never worry about amenities and facilities while living in The Meritz. One can always take a 3-minute walk to Avenue K and Suria KLCC to have everything from fancy dining to everyday groceries need. Besides Suria KLCC, there are several more shopping heavens within reach including Pavilion KL, Lot 10, Starhill Galery, KL Plaza, Sg Wang Plaza, Times Square and BB Plaza. In addition, there are also a number of clubs and bars located nearby around Jalan P. Ramlee such as The Beach, Nouvo and Zouk to name a few.

Property Details

• Name: The Meritz
• Address: Jalan Mayang, Ampang, Kuala Lumpur
• Developer: DNP Tanahniaga (a subsidiary of DNP Holdings)
• Completion Date: April 2008
• Type: Condominium
• Tenure: {Tenure}
• No. of Blocks: 1
• No. of Storey: 31
• No. of Units: 110
• Maintenance Fee: RM0.45 psf
• Launch Price: RM750 psf
• Subsale Price: {Price Range}
• Rental: {Rental Range}

Layouts

• Standard (1,076 – 1,529 sf)
• Penthouse (2,669 – 3,412 sf)

Facilities

• 25m lap pool
• Jacuzzi
• Sauna
• Gymnasium
• Barbecue area
• Internal and external children’s playground
• Function room

Analysis

The developer, DNP Holdings is an experienced developer and had built numerous developments from residential to commercial centers and mixed developments in Malaysia region. DNP Holdings is the Malaysia wing for the famous Wingtai Asia Holdings majoring in property, hospitality and garment industry in Malaysia. Wingtai Asia Group has also step its foot in Hong Kong and Singapore, via USI Holdings for Hong Kong region and Wing Tai Holdings for Singapore region. Among the company achievements in Malaysia are Kondominium 8 in Ampang Hilir, Taman Bukit Minyak Indah, and Plaza DNP in Johor Bahru.

Although The Meritz is strategically located opposite of KLCC, units which currently enjoying fascinating views of the twin towers will soon be gone, as there will be a new development on the plot in front of The Meritz that will eventually block all KLCC views. With all construction works, the residents will suffer bad air quality with dusts covering the facilities, bedroom windows and balconies as well as noise pollution.

In terms of The Meritz layout, the 3-room apartment does not emphasize on expansive living space. The master bedroom is relatively quite small and cannot fit a full set of wardrobe. Meanwhile, its second and third bedrooms are well-sized and share a non-attached common bathroom. Besides that, the unit has full height windows but not offering large view at its dining and living. The unit also does not consist of a wet kitchen even though it is fairly-sized. Plus, its yard is very small and can only be placed with a washing machine. Also, the utility or maid room is very small and cannot be fitted a decent bed.

As for the 2-room apartment in The Meritz, which is about 1,400 sf, the layout is much better proportioned. It comprises larger living dining and master bedroom which are comfortable. However, the large spaces are traded with smaller kitchen, yard and utility room areas. Another problem for residents of The Meritz is each unit only comes with a single parking bay, which the developer required its purchaser to purchase for RM40,000 each. Also, each unit is only eligible to purchase a single parking bay. Therefore, if you have more than a car, you have to find other solution to park elsewhere.

Since the launch date of The Meritz in April 2005, the price had appreciated after its completion, and then depreciated in 2009. It was launched from about RM750 psf and doubled to RM1,050 psf upon its completion. However, the price depreciated to RM820++ in 2009. The volatile market price changes were due to the price push by initial investors and developers when The Meritz was nearing to completion. But due to low in demand, high holding costs suffered by owners due to untenanted units and numerous new high-end residential developments in the prime area, the price fell tremendously.

The Meritz is currently priced around RM1,100 psf and the asking price continued rising, for now. Even though numerous initial investors have made tremendous profits within short period from The Meritz investment, investing in a unit during current market is a risky bet. Most analysts target that most of high-end residential developments around KLCC will suffer badly from current economy downturn, and this include The Meritz.