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Continue Reading ⋅ 19 February 2022
216 Residences is developed by Vizione Holdings Bhd, and it sits on 0.898 acres of leasehold commercial land in Kuchai Lama, off Jalan Kelang Lama. The project was launched in July 2019, and it has a gross development value (GDV) of RM111 million.
216 Residences is Vizione’s first foray into property development. In early 2019, the construction company bought Pembinaan Angkasa Permai Sdn Bhd, which is jointly building the development with landowner Hanacekap Sdn Bhd.
The project received good response, with a take-up rate of 70% several weeks after its launch. 216 Residences is scheduled for completion in Q2 of 2022, and the project’s sales gallery is located at Old Klang Road.
Address: Taman Kuchai Jaya, Kuchai Lama, 58200 Kuala Lumpur
Developer: Vizione Holdings Bhd
Property Type: Serviced apartment
Land Area: 0.898 acres
Land Title: Commercial
Tenure: Leasehold (expires November 2116)
No. of Blocks: 1
No. of Storeys: 29
Total Units: 216
Developer’s office: L1-03, PJX‐HM Shah Tower, 16A, Persiaran Barat, 46050 Petaling Jaya, Selangor
Year of Completion: 2022
Built-up Area: 658 sq ft – 1,854 sq ft
Facilities:
Level G
- Secret garden
- Cascading nooks
Level 7
- Indoor games room
- Outdoor games room
- Business lounge
- Playground
- Outdoor lounge
- Pool lounge
- Dressing room
- Sauna
- Kid’s pool
- Wading pool
- Swimming pool
- Celebrity kitchen
- Event hall
- Gymnasium
- Surau
Launch Price: From RM300,000
Maintenance Fee: RM0.35 per sq ft
Project Details
216 Residences is a 29-storey block, with 216 units of serviced apartments. The units feature seven layouts ranging from 658 sq ft (2 bedrooms, 2 bathrooms) to 1,023 sq ft (3 bedrooms, 2 bathrooms). There are also four penthouse layouts (4+1 bedrooms, 3-bathrooms), with built-ups from 1,316 sq ft to 1,854 sq ft. Most units will be partially furnished, with kitchen cabinet, three air conditioners, and kitchen hob and hood.
According to the developer, with the variety of layout and unit sizes as well as facilities and amenities, this project is ideal for singles and small families. 216 Residences features a Zen-inspired concept development in an established location, and it is priced affordably. The selling prices range from RM300,000 to RM1.66 million, and the maintenance cost is estimated at 35 sen per sq ft, and the lease will expire in November 2116.
Facilities at 216 Residences include a swimming pool, wading pool, pool lounge, gymnasium, lounges, celebrity kitchen, sauna, event hall, and indoor and outdoor games rooms. Take a look at the full list of facilities under the Introduction section.
|
Unit Types |
Built-Up |
|
Type A / A1 / A2 |
· 658 sq ft · 2 bedrooms · 2 bathrooms · RM300,000 |
|
Type B / B1 |
· 832 sq ft · 2 bedrooms · 2 bathrooms · RM531,960 |
|
Type B2 |
· 804 sq ft · 2 bedrooms · 2 bathrooms · RM515,000 |
|
Type C |
· 831 sq ft · 3 bedrooms · 2 bathrooms · RM548,460 |
|
Type C1 |
· 854 sq ft · 3 bedrooms · 2 bathrooms · RM564,300 |
|
Type C2 |
· 847 sq ft · 3 bedrooms · 2 bathrooms · RM557,700 |
|
Type D |
· 1,023 sq ft · 3 bedrooms · 2 bathrooms · RM675,840 |
|
Type P1 |
· 1,854 sq ft · 4 + 1 bedrooms · 3 bathrooms · RM1,668,600 |
|
Type P2 |
· 1,316 sq ft · 4 bedrooms · 3 bathrooms · RM1,206,900 |
|
Type P3 |
· 1,732 sq ft · 4 + 1 bedrooms · 3 bathrooms · RM1,555,200 |
|
Type P4 |
· 1,658 sq ft · 4 bedrooms · 3 bathrooms · RM1,450,800 |
Location
216 Residences is located at Jalan Kuchai Lama, a mature township with accessibility via major expressways including the KL-Seremban Highway, New Pantai Expressway (NPE), Maju Expressway (MEX), and the Shah Alam Expressway (KESAS). It is also a few minutes’ drive to Bangsar, Bandar Sunway, Petaling Jaya, and Sungai Besi.
The developer believes that its strategic location and upgrade of infrastructure such as the upcoming Kuchai Lama MRT station are reasons why many homebuyers are attracted to this area. The Kuchai Lama MRT is expected to start operations in 2022, and it is just 1.5km from 216 residences.
Here are the distances of other areas and amenities from 216 Residences:
- 1km to SK Seri Setia, SMK Sri Sentosa, SJK (C) Choong Wen, Kuchai Entrepreneurs Park
- 2km to Kuchai MRT station, Pearl Suria Mall, Scott Garden
- 3km to Pantai Dalam KTM station
- 4km to Bangsar South / Taman OUG
- 5km to Mid Valley Megamall
- 6km to KL Sentral
- 5km to Bandar Malaysia
Accessibility
- Jalan Kuchai Lama
- Jalan Gembira
- Jalan Mesra Ria
- Old Klang Road
- New Pantai Expressway (NPE)
- Maju Expressway (MEX)
- Salak Highway
- Federal Highway
- Shah Alam Expressway (KESAS)
- MRT Kuchai Lama station (Sg Buloh-Serdang-Putrajaya, SSP Line)
- KTM Pantai Dalam
- KL Sentral
Education
- SK Seri Setia
- SMK Seri Sentosa
- SJK (C) Choong Wen
- SJK (C) La Salle
- SMK Taman Yarl
- SR Sathya Sai
- SJK Danau Perdana
- SMK Desa Perdana
- Kuen Cheng High School
- Megatech College
- INTEC Education College
- University of Malaya
- UCSI University
Medical Care
- Taman Desa Medical Centre
- iHeal Medical Centre Kuala Lumpur
- Pantai Hospital Kuala Lumpur
- University Malaya Medical Centre
Shopping
- Kuchai Entrepreneurs Park
- Giant
- Pearl Point Shopping Mall
- The Scott Garden
- NSK Trade City
- Pearl Suria Mall
- Plaza OUG
- Endah Parade
- Old Klang Road wet market
- The Store Sri Petaling
- Mid Valley Megamall
Recreation
- Sports Arena Sentosa
- The Scott Garden
- Bukit Gasing
- Taman Jaya Park
- Bukit Jalil Recreational Park
- Bukit Jalil National Stadium
- Axiata Arena
Analysis
216 Residences is a low-density project, in a highly convenient location. With every mature and popular area, comes the traffic that residents will have to get used to, or accept. The other key concern by netizens include the land size, which is just about 1 acre.
As for positives, the project is relatively close to an upcoming MRT station (Kuchai Lama), comes with practical layouts, and is priced affordably for the area. According to the developer, property values in the area have appreciated significantly. It could be due to the MRT station, as properties located near transportation hubs tend to see quicker value appreciation.
Here’s a quick look at properties close to 216 Residences.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
216 Residences by Vizione Holdings Bhd |
Leasehold |
Serviced Apartment |
2022 |
658 sq ft – 1,854 sq ft |
From RM300,000 |
|
Seringin Residences by See Hoy Chan Group |
Freehold |
Condominium |
2015 |
1,523 sq ft – 6,760 sq ft |
From RM500,000 |
|
OUG Parklane by Akisama Group |
Freehold |
Serviced Apartment |
2015 |
950 sq ft |
From RM258,400 |
|
Le Yuan Residence by UOA Group |
Freehold |
Condominium |
2014 |
1,164 sq ft – 1,782 sq ft |
From RM673,500 |
|
Arte @ Kuchai Lama by Nusmetro Group |
Leasehold |
Condominium |
2014 |
1,421 sq ft – 2,045 sq ft |
From RM545,800 |
|
Petalz Residences by Exsim Group of Companies |
Freehold |
Serviced Apartment |
2016 |
895 sq ft – 1,256 sq ft |
From RM581,750 |
|
GenKL by Asiana Agresif Sdn Bhd |
Freehold |
Condominium |
2019 |
1,150 sq ft – 1,894 sq ft |
From RM900,000 |
|
CitiZEN@Old Klang Road by Binastra Land |
Freehold |
Serviced Apartment |
2019 |
852 sq ft – 1,133 sq ft |
From RM511,200 |
|
The Hermington by Aset Kayamas |
Leasehold |
Condominium |
2020 |
From 1,075 sq ft |
From RM450,000 |
|
Waltz Residences by WCT Holdings Berhad |
Freehold |
Condominium |
2020 |
948 sq ft – 1,691 sq ft |
From RM814,000 |
|
Residensi Far East by Far East Kuchai Development Sdn Bhd |
Leasehold |
Serviced Residence |
2021 |
657 sq ft – 1,107 sq ft |
From RM459,000 |
|
8th & Stellar by Chin Hin Property Development |
Leasehold |
Serviced Residence |
2022 |
711 sq ft – 818 sq ft |
From RM459,000 |
|
Aster Green Residence by UOA Group |
Freehold |
Suite Apartments |
2023 |
657 sq ft – 958 sq ft |
From RM389,000 |
|
M Oscar by Mah Sing Group |
Freehold |
Serviced Residence |
2023 |
709 sq ft – 1,198 sq ft |
From RM428,000 |
Summary
Vizione Bhd is a listed company in Bursa Malaysia. They purchased Pembinaan Angkasa Permai Sdn Bhd for RM7 million, as it is in line with the group’s intent to venture into property development.
Some of their completed construction projects include Sunway Gandaria Bangi, Klang Gardenia, Sunway Velocity, Sunway Eastwood, Paragon Mastery, The Strand Kota Damansara, many PPR projects, and many more. Their on-going construction projects include Midlands City @ Semenyih, Pengerang Eco-Industrial Park @ Johor, and GreenPark Village @ Semenyih, among others.
So, if you’re interested in a unit at 216 Residences priced at RM515,000, here are its estimated loan figures based on the PropertyGuru Home Loan Calculator and PropertyGuru Home Loan Eligibility and Affordability Calculator.
- LTV / margin of finance: 90%
- Down payment (10%): RM51,500
- Loan amount: RM463,500
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM2,004
- Approximate required gross annual income: RM81,000*
* Assumptions: You have no other monthly debt obligations, and 30% of gross income is spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
Can you afford the loan for this property?
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