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Continue Reading ⋅ 30 January 2023
The Tribeca @ KL (Image courtesy of skyscrapercity.com)
Tribeca is a new and upcoming development of serviced residence, brought to the heart of the city by the developer Low Yat Group. While the name Low Yat may more often ring a bell of recognition as one of the first forums in Malaysia which still remains successful to this day, they are also a very successful developer.
Amongst Low Yat Group’s most popular developments are myHabitat and Fairlane Residences, of which both are also located in the heart of the Kuala Lumpur city centre. The reach of Low Yat Group also touches the island of Penang with the Penang Island Bay Resort. Making a statement of quality, Low Yat Group also has international developments in Hokkaido and Jiangsu in China, by the name of Shiki and Changsu, respectively.
The Tribeca’s surrounding
Tribeca is planned and designed to be another landmark in the heart of the Kuala Lumpur city centre, taking its place amongst the old buildings within walking distance to the desirable Golden Triangle of Bukit Bintang.
The view outside Tribeca
QuikPro No: PL-2238
Address: Jalan Imbi, Bukit Bintang, 55100 Kuala Lumpur, Wilayah Persekutuan
Property Type: Serviced Apartment
Land Title: Commercial
No of Storeys: 37
No of Blocks: 2
No of Lifts per floor: 5
Tenure: Freehold
Bumi Discounts: 5%
Sales Gallery: Jalan Imbi, Bukit Bintang, 55100 Kuala Lumpur, Wilayah Persekutuan
Site GPS Coordinates: 3.146562, 101.715680
Website: http://www.tribeca.com.my/
Expected Date of Completion: 2017
Total Units: 318
Built Up area: 510 sf – 1,293 sf
Facilities & Amenities:
– 2 swimming pools
– Children’s pool
– Jacuzzi
– Dining / Bar bistro
5 Unique PODs
Jungle – Children’s interactive play area
Social – Relaxation area
Zen – Meditation, yoga & tai chi
Business – Meeting rooms with high-speed WiFi
Fitness – Residents only gym
Listing Price: RM949,500 – RM3,765,000
Price psf: RM2,200 – RM2,600
Maintenance Fee psf: RM0.55psf
Parking Bay per Unit: 0
Unit Type:
Loft
Type A / A1 |2R,2B | 1,231 sf – 1,257 sf
Type B / B1|2R,2B|1,241 sf – 1,293 sf
Suite
Type C|2R,2B|868 sf – 894 sf
Type D2|2R,2B|698 sf
Type G2|1+1R,1B|657 sf
Studio
Type F3|1R,1B|510 sf
Project Details
Tribeca is located in the heart of the Golden Triangle, experiencing the city’s pulse on a daily basis. Spanning a total of 0.75 acres, Tribeca is located on a street within an area which feels the hustle and bustle of the city at all times of the day without end. It is also certainly not a very peaceful location with there being busy traffic at its doors throughout day and night.
Being surrounded by numerous old buildings, the majority of them low rises, Tribeca is designed to stand out against its neighbours with its opulent designs and luxury hotel concept. Launched in July 2013, sales of Tribeca while slow in the current uncertainty of the property market is nevertheless steady. Even though every floor of the building increases in price by the floor, and the developers are releasing Tribeca by the floors for sale, the response is still rather good.
The Tribeca sales gallery
In spite of its limited space, there are two blocks to Tribeca. Block A stands at 37 storeys tall, while Block B is only 32 storeys tall. Views from Tribeca will be panoramic at night, as South-facing units will enjoy the Jati view while North-facing units will enjoy a view of Imbi.
The location of the building enjoys a good view of the city
Selected units will also enjoy views of the Royal Selangor Golf Club on the east, while units which enjoy views of the west will overlook the commercial hub of Bukit Bintang.
Tribeca is a very well planned development, with different floors of the building catering to different concepts such as a Business Pod for businessmen, while Level 32 and 37 feature Sky Pools. A childcare centre is also in the plans, hence busy working parents who live in Tribeca will have a safe and convenient place to leave their toddlers at while at work.
The various interesting spaces and floors within The Tribeca
Located on various other floors are also the Social Pod which will feature pool tables and a movie area, while the Fitness Pod will be fully equipped enough to satisfy even the most active fitness enthusiast. Those who prefer more relaxing activities will love the Zen Pod which will be conducive to Tai Chi, Yoga and Pilates, as it comes equipped with sound systems and mood lighting. Toddlers who live at Tribeca will get a kick out of the Jungle Pod where the childcare centre, nursery and playrooms are located.
Being a serviced residence, Tribeca will enjoy the services of Fairlane Hospitality, a renowned and leading hospitality service which was introduced in the year 2010 to complement Low Yat’s luxury projects. It is a company which is currently also running two of Low Yat’s other luxury serviced apartments, namely myHabitat 2 and Fairlane Residences.
Services to pamper residents
Residents of Tribeca will enjoy hotel-like services with a concierge, housekeeping and laundry services as well as room service. Maintenance and upkeep will also be provided by Fairlane Hospitality. There will be several choices of restaurants catering to all nationalities and palates located on the Ground floor of Tribeca to serve its residents.
Buyers will get to choose between three different types of units, studio, suite or loft, with a total of 318 units. All the units will come partially furnished with branded kitchen cabinets and basins, while the bathroom is delightfully and spaciously designed with glass shower screens and both with rain shower as well as a wall shower. The kitchen will be furnished with an oven, hood and hob, along with a washing machine which is tucked into a nifty little corner.
Tribeca showroom unit
With its beautiful designs and total of 318 units, it is rather disappointing to find out that there is only a total of 200 plus parking lots. Furthermore, these parking lots do not come free with the units, they have to be rented by buyers at a price which has not been confirmed as of yet.
Showroom unit
The lack of parking lots which do not come packaged with the units have caused much dissatisfaction among prospective buyers, because except for the unit Type F3, the majority of the other units come with two bedrooms. With the assumption that each resident owns his or her own vehicle, even with the empty plot of lands both opposite and down the street from Tribeca serving as a parking lot, there will be a serious lack of parking in the future.
Parking lots aside, with its completion date set for Q4 of 2017, Tribeca looks like it is off to a good start with the site of construction already featuring what looks like the first five storeys of the 7-storey parking lots.
Insufficient parking allocation has caused dissatisfaction among prospective buyers
Location
Tribeca is situated along Jalan Imbi, located just opposite an empty plot of land which currently serves as a parking lot for RM5 per entry. There is potential for future development on this plot of land, hence residents of Tribeca facing Jalan Imbi may have their views blocked in future.
The Tribeca’s surrounding
The location of Tribeca is however still an envious wan as it is literally within walking distance of the Pasar Rakyat Station and the Bukit Bintang Central Station, both of which are within a 5-minute walk. An underground tunnel will connect residents of Tribeca to the Bukit Bintang Central Station, protecting them from all weathers.
The location of The Tribeca on map
Just down the street from the serviced apartment within a 3-minute walk is a very old Chinese coffee shop which serves some of the city’s best food and pork noodles, while night time brings about even more food stalls which opens up in what is the daytime open air parking further down the road just beside the Honda showroom.
The various showrooms outside the residence
Tribeca’s location is idealistic for the shopaholic, as it is only one street away from Fahrenheit 88. From there it is a short and exciting walk to Pavilion, where pedestrians are connected to Suria KLCC via a 1.173 kilometres long bridge. Another option of LRT station is open at Suria KLCC with the KLCC LRT Station, where pedestrians can get to KL Sentral which hosts the entire network of public transportation in Kuala Lumpur. Cabs are also aplenty at the taxi stand outside Suria KLCC.
The surroundings of Tribeca
Tribeca enjoys a very prominent location in the heart of the city where some of the most distinguished hotels in Kuala Lumpur are located. Located just up the road from Tribeca is Ritz Carlton one of the most eminent hotels in the city, where just beside it is the Dorset Regency Hotel. Westin KL and Marriott Hotel are located just behind them along with Starhill. Especially desirable for future foreigners who wish to rent a unit at Tribeca, the Beryl’s chocolate factory is located just a short walk behind the serviced apartment.
Outside The Tribeca
With everything being only a stone’s throw away from residents of the city, there are several medical centres within proximity of Tribeca. The renowned Prince Court Medical Centre is approximately only 4 minutes away by car at 1.4 kilometres, while the next closest hospital is the Chinese Tung Shin Hospital located 3.4 kilometres away. For some of the best medical care in Kuala Lumpur, the Gleneagles Hospital is located only 10 minutes away at 4.7 kilometres.
Clean walkway for pedestrians with decent value eateries surrounding the area
Traffic conditions are however a touch-and-go situation in the city, where on a really good day it can take less than 20 minutes to drive from this area to another, while on a really bad day it can take up to half an hour to travel less than 3 kilometres!
Fortunately, public transportation is conveniently accessed from Tribeca. Below is a photo of the awesome traffic conditions on a public holiday.
City-traffic congestion prone
Other than the many shopping options located within short walking distance from Tribeca, residents will also find that the electronic paradise of Low Yat Plaza is located only 10 minutes away by foot, along with Sungai Wang Plaza, BB Plaza and Berjaya Times Square shopping mall whereby all are either joined, a short walk away or a bridge apart. For more night time entertainment, Changkat is only a 5-minute drive or a 15 minutes’ walk away.
Supermarket options are aplenty for the residents of Tribeca. Pavilion’s supermarket is Mercato, while Suria KLCC’s supermarket is Cold Storage. Sungai Wang hosts the Giant hypermarket which generally offers a more affordable range of products. These supermarkets however offer only the normal fares according to expatriates, hence for a more specialized selection, future expatriate residents will need to make their way to the Hock Choon Supermarket at Jalan Ampang which is only 7 minutes away by car. Expatriate residents of Tribeca will also find their locations to be very comfortable, as Tribeca is located within a 5 – 10 minute drive of all the embassies in Kuala Lumpur.
The entrance to the sales gallery
On top of the surrounding amenities, Tribeca has easy access to numerous main roads, them being Jalan Sultan Ismail and Jalan Bukit Bintang. Access to the Tun Razak Exchange and Smart Tunnel are also convenient, connecting motorists to all parts of Klang Valley conveniently. The Ampang – Kuala Lumpur Elevated Highway (AKLEH) is only a minute away, while the Middle Ring Road 2 (MRR2) and Duta Ulu Klang Expressway are 3 minutes away and the North South Highway at a 20 minutes distance. The Kuala Lumpur International Airport (KLIA) is only 45 minutes away by car.
Analysis
As compared to the nearby developments, Tribeca is moderately priced at between RM2,200 and RM2,600 per sq. ft. The next closest upcoming development to Tribeca is Pavilion Suites located on Jalan Bukit Bintang at about a 10-minute walk from Tribeca, which started selling for RM3,000 per sq. ft.
The Four Seasons Place located nearby also costs approximately RM3,000 per sq. ft., while the existing Ritz-Carlton Residences located just down the road is priced at an average of RM2,500 per sq. ft. Dorsett Residences, a new development which is also a short walk from Tribeca cost between RM2,089 and RM2,300 during its launch in 2014. It is hence concluded that Tribeca, with its premier location is a reasonably priced one.
Summary
Tribeca is in conclusion a new and upcoming development that is located in an enviable location within a 5-minute walk of several prominent shopping malls and two LRT stations. Its price is however one of speculation as many deem it to be overpriced as there are no parking lots packaged with the unit itself, while some say that its address is at fault being on Jalan Imbi instead of Jalan Bukit Bintang itself.
Being sandwiched by old and historical buildings instead of premium shopping malls on a street which is more famous for its pork noodles than its tourism, many critics say that the price of Tribeca does not justify its location. However upon visiting the site, it is undeniable than Tribeca is located in a very premium location due to its walkability to all of the city’s best shopping malls and numerous LRT stations.
The way Tribeca is marketed as a hotel-like serviced residence with a lack of parking lots surrounded by tourists attractions within walking distance to numerous options of public transportation also gives the impression that it is a development meant to be more of an investment for rent to tourists than for permanent residence. With Fairlane Hospitality overseeing matters, owners of Tribeca who opt to rent out their units to tourists can further sit back and relax in leasing out their units with peace of mind.
