Waldorf Tower, Sri Hartamas

Waldorf Tower is a serviced apartment located at the heart of Plaza Damas, next to its sibling Windsor Tower, in Sri Hartamas enclave. It comprises a single 28-storey tower block consisting of 228 apartment units, which mostly are studio units. It is suitable for expatriates, executives and students.

Same as plenty of Sri Hartamas residential and commercial development projects, Waldorf Tower is another development by Mayland Group. The group has developed numerous developments which mostly located in Sri Hartamas and few in Kuala Lumpur city centre and Johor Bahru. Some projects completed are Hartamas Shopping Centre, Mayfair, Dorchester, Menara Hartamas, Parkview, Maytower and Prima Regency.

Being adjacent to Plaza Damas and Hartamas Shopping Center, one can expect plenty of amenities within short walking distance. From mamak to fine dining, hair salon to manicure center; all can be reach in a short while. If keeping on healthy lifestyle is your thing, you can join as a member at True Fitness which located in Desa Sri Hartamas. If golf is your stuff, pack your golfing gear, and take a short drive to KLGCC, KGPA, Tropicana Golf and Country Resort and Sri Selangor Golf Club, and hit some balls with friends and colleagues.

Going places is among the reasons why people love to stay in Sri Hartamas, in spite of its posh postcode address. There are quite a number of main roads and highways accessible from the area. Right from the entrance, you can choose either utilizing Jalan Duta or Sprint highway to get to the city center. Plus, it is also convenient to commute to Damansara area as motorist can opt for Penchala Link or Sprint highway.

Property Details

• Name: Waldorf Tower
• Address: Jalan Sri Hartamas 1, 50480 Kuala Lumpur
• Developer: Mayland
• Completion Date: September 2008
• Type: Serviced Residence
• Tenure: {Tenure}
• No. of Blocks: 1
• No. of Storey: 28
• No. of Units: 228
• Built-up: 480 – 3,569 sf
• Subsale Price: {Price Range}
• Rental: {Rental Range}

Layouts

• Type P1 (3,569 sf) (Penthouse)
• Type A1 (1,710 sf)
• Type B1 (1,460 sf)
• Type E (1,130 sf)
• Type F (1,000 sf)
• Type G (680 sf)
• Type H (480 sf)

Facilities

• Swimming pool
• Wading pool
• Jacuzzi
• Pool deck
• Grotto
• Spa pool
• Sauna
• Squash court
• Activity room
• Gymnasium
• Snooker room
• Movie room
• Aerobics and dancing room
• Music and karaoke room
• Nursery
• Cafeteria
• Aquatic garden
• Children playground
• Barbecue pit
• Business center
• I-Zone School
• Broadband internet access
• 24-hour security with CCTV
• Smart Card Access System

Analysis

Waldorf Tower is another development from the infamous developer, Malaysia Land Properties, also known as Mayland. The company has been accused at almost each of its development for bad workmanship as well as low quality material used. Among the worst property done by Mayland is Sri Putramas I condominium which passer-by can evidence the crack on the building as well as cheap paint used. There are many problems associated with Mayland in terms of quality and business ethics including from bad workmanship, cheap material used to slow handover.

Just like its sibling Windsor Tower, Waldorf Tower was completed later than its estimated completion date, which supposedly on July 2007. It is reportedly being handed to owners in September of 2008. Not only that, the quality is low as well. For example, its lift was broke down at the end of 2008, and unrepaired for several days due to slow action by the management. Not a surprise either. Plus, some owners claimed that they got slow follow up for complaints made.

The traffic congestion is quite bad in the vicinity. Since the traffic lights at the junction of Jalan Sri Hartamas 1 and Desa Sri Hartamas were installed, motorists have to get through though congestion, especially during peak hours. Motorists are forced to stuck in the yellow box as the traffic is heavy towards Desa Sri Hartamas due to the second traffic light does not turn green until about 90 seconds after the first traffic light.

Looking at the trend nowadays, studio units are getting well-received due to lower cost and most residents prefer to live as couple. Most investors gain handsome rental yield but not much capital appreciation for studio unit. Buying a studio unit in Waldorf Tower would be a good investment. However, there is uncertainty on how long the rental rate of studio apartment is sustainable, as there are loads of competitions in near future including VERVE Suites, Tiffani Kiara, Solaris Dutamas and Plaza Damas 3. At current time, there are several residential offering studio units including Mayfair and Dorchester.

As the country is currently hit by the economic crisis, most people and analyst are skeptical about property market in the future. Most said that high-end residential will be badly hit. But there is some potential that investing in Sri Hartamas will benefit its investor due to a number of reasons including Istana Negara being built nearby, and numerous commercial developments such as Plaza Damas 3, One Mont Kiara, Solaris Mont Kiara, Solaris Dutamas, One Mont Kiara, and Glomac Galleria. With more offices built, it will surely bring in more residents into Sri Hartamas enclave to live close to their office.

Looking at the traded price of Waldorf Tower, one can notice that there is quite a gap between selling price offered by the owners in their advertisements. This is due to lower floor units are sold at bargain price, as they possess the view of Plaza Damas shop lots and air-conditioning, or high-tension cable view which is across the road.

Buying a unit at Waldorf Tower can be good and bad. It fulfills the first three property requirements “Location, location and location!”. It is near to commercial center, college and located in a prime area. The only concerns arise are how the investment would turn out in several more years if it is badly maintained by the developer, like their other properties and affects of numerous new residential within the small Sri Hartamas enclave.