Curvo Residences is the final residential phase of the first integrated development in Setapak, SkyArena.
Continue Reading ⋅ 30 January 2023
Ativo Suites is part of the 48-acre Damansara Avenue in Bandar Sri Damansara, and it is the second residential project to be launched within that project. Damansara Avenue has a total gross development value (GDV) of RM7.6 billion and it will comprise residential, retail, commercial, office towers, hotel, sports complex, a convention hall and a performing arts centre.
Damansara Avenue is located close to matured townships like Bandar Menjalara, Prima Damansara, Damansara Damai, Damansara Perdana and Mutiara Perdana. It is conveniently located 45 minutes’ drive from Kuala Lumpur International Airport (KLIA), and just 10 minutes away from the shopping belt of 1 Utama, The Curve, Ikea and Tesco, while Kuala Lumpur city centre is about 30 minutes away.
It is marketed as a mixed development super-hub that will cater to the needs of a sophisticated and urban community. This project is developed by Indo Aman Bina Sdn Bhd, a wholly-owned subsidiary of TA Global Bhd.
Damansara Avenue was first launched in 2010, with Ativo Plaza and Azelia Residences, both of which have been fully sold and completed. Ativo Plaza consists of two blocks of 198 strata offices, and 43 retail and commercial lots, while Azelia Residences comprises 250 units of serviced apartments.
Damansara Avenue was revamped when it was announced that a mass rapid transit station, part of MRT Line 2, would be located opposite the development. The new masterplan was unveiled in 2017 and Damansara Avenue will be developed over the next 10 to 15 years. Ativo Suites is the first product of the revamped masterplan to be introduced to the market. The freehold residential project is designed by award-winning GDP Architects, and the project will include rooftop facilities, retail shops and a podium facilities deck.
There will be a total of 668 units of serviced apartment within 2 towers. The preview for Tower B was held in 3Q2017, while Tower A has been open for sale since its official launch in 2018. This project is at the centre of the masterplan and will be built in accordance to BuildQAS or other equivalent quality assessment standards.
Ativo Suites will be located next to Ativo Plaza. Upon completion, a new walkway will link Ativo Suites to 5.73-acre Ativo Plaza, which provides residents with a convenient and direct access to a variety of F&B outlets and commercial services. From Persiaran Perdana, an internal ring road will connect to the main road and bring traffic into Ativo Plaza. The plaza’s retail and office suites face the main road, while a 7-acre linear park is located behind the building. In keeping with the lush environment of Bandar Sri Damansara, the Damansara Avenue masterplan will feature extensive green areas, where 11 acres will be dedicated to gardens and landscaping.
Address: Ativo Suites @ Damansara Avenue, Bandar Sri Damansara, 52200 Kuala Lumpur
Property Type: Serviced Residence
Land Title: Commercial
Total Units: 668
Tenure: Freehold
Sales Gallery: Persiaran Perdana, Bandar Sri Damansara, 52200 Kuala Lumpur
Gallery GPS Coordinates: 3.194669, 101.616923
Year of Completion: 2021
Built-up Area: 499 sq ft – 1,498 sq ft
Plaza (Ground Floor) Facilities:
- Security podium
- Lobby A concierge
- Lobby B concierge
- Nursery
- Toddler’s playground
- Laundry room
- Lobby drop-off area
- Management office
- Aqua garden
Podium Deck (Level 10) Facilities:
- Squash court
- Badminton-cum-basketball court
- Multi-purpose hall
- BBQ area
- Music room
- Pantry
- Tai-chi garden
- Wading pool
- Infinity pool
- Jacuzzi
- Cabana deck
- Children’s playground
- Look-out pavilion
- Male surau
- Female surau
- Locker
- Female and male changing room
- Female and male steam room
- Female and male sauna
- Meditation / yoga deck
- Reflexology path
- Putting green
- Gymnasium (Level 11)
- Aerobic / yoga studio (Level 11)
- Residents’ lounge
- Pre-function deck
Launch Price: RM481,000 – RM1,519,800
Maintenance fee per sq ft: Estimated RM0.40 to RM0.45 psf
Project Details
Ativo Suites comprises 668 serviced apartments, with a gross development value (GDV) of RM550 million. The built-up for the units range from 499 sq ft to 1,498 sq ft, and they were priced from RM481,800 to RM1.519 million during its launch. Tower B, which was previewed in the third quarter of 2017 is 95% sold, while Tower A was launched in 2018 is 65% sold (as at December 2018).
All units will come with air conditioning, wardrobes, kitchen fitted with electrical appliances and cabinets, fully fitted bathroom with sanitary wares, storage water heater, digital door lock, luxury finishing and an integrated smart home system.
There are approximately 53,000 sq ft of facilities spread out across five different levels, including the rooftops of both Ativo Suites’ towers. The development will have 50 facilities and amenities, including 2 infinity pools, sky bar, games room, jacuzzi pods, gymnasium, theatre room, and many more. These will appeal to the new generation of buyers.
There is also 2.66 acres of dedicated landscape area at various locations, which is designed by award-winning landscape architect, Walrus Design. Construction of Ativo Suites started in June 2017 and is expected to be completed in the middle of 2021.
|
Unit Types |
Built-Up |
Launch Price Q3 2017 |
|
Type A
|
• 499 sq ft • Studio • 1 bathroom
|
From RM481,800
|
|
Type B
|
• 607 sq ft • 1 bedroom • 1 bathroom
|
From RM586,800 |
|
Type C
|
• 751 sq ft • 1 bedroom +1 study room • 1 bathroom
|
From RM709,800
|
|
Type D |
• 1,051 sq ft • 3 bedrooms • 2 bathrooms
|
From RM941,800 |
|
Type E |
• 1,197 sq ft • 3 bedrooms +1 study room • 2 bathrooms
|
From RM1,048,800 |
|
Type F |
• 1,498 sq ft (studio: 344 sq ft) • 2 bedrooms +1 studio (dual-key) + 1 study room • 3 bathrooms
|
From RM1,305,800
|
Location
Damansara Avenue is touted to be the first transit-oriented master plan development in Bandar Sri Damansara. Its connectivity to multiple major highways gives the development an added appeal.
It is close to major highways including the Sri Damansara Link (SDL) of the Duta-Ulu Kelang Expressway (DUKE). The SDL connects the Middle Ring Road 2 (MRR2) at the Bandar Menjalara Interchange and the existing Duke at Jalan Segambut. It is can also help alleviate congestion at the intersections of MRR2 and Damansara-Puchong Expressway (LDP). Ativo Suites is also easily accessible via LDP, New Klang Valley Expressway (NKVE), SPRINT Highway’s Penchala Link and the KL-Kuala Selangor trunk road.
As for public transport, Damansara Avenue will also be connected to the public transport system of the Greater Kuala Lumpur via the nearby Sri Damansara East MRT station and the rail transit line of SSP (Sungai Buloh – Serdang – Putrajaya) which will be operational in 2022. Known as the new MRT Line 2, it will be built adjacent to Damansara Avenue.
There will be a proposed pedestrian link bridge that connects the development with the MRT station. This will provide a direct covered access to both the community and visitors.
With this transportation advantage, the Damansara Avenue plan was revamped accordingly. The improved design, with an estimated gross development value (GDV) of RM7.2bil, will be developed over the next 10 years with a launch slated every year.
Accessibility
- Sri Damansara Link (SDL) of the Duta-Ulu Kelang Expressway (DUKE)
- North-South Expressway
- Kepong-Selayang Highway
- New Klang Valley Expressway (NKVE)
- Sri Damansara East MRT Station
- KTM Line 1 – Seremban / Pelabuhan Klang
- MRT Line 1 – Sg. Buloh – Kajang
- MRT Line 2 – Sg. Buloh – Serdang – Putrajaya
Education
- The International School @ ParkCity
- Sri Bestari International School
- SK Bandar Sri Damansara 3
- Tadika Krista
- SJK (C) Desa Jaya 2
- IGB International School (IGBIS)
- ELC International School
- SEGi University
Medical Care
- ParkCity Medical Centre
- Sungai Buloh Hospital
- Tropicana Medical Centre
Shopping
- Empire Damansara
- PJ Trade Centre
- The Curve / eCurve
- IKEA
- IPC (Ikano Power Centre)
- 1 Utama Shopping Centre
- Sunway Giza
- The Strand Mall
Recreation
- Bukit Kiara Equestrian & Country Club
- Kuala Lumpur Golf & Country Club (KLGCC)
- Sentul Raya Golf Club
- Seri Selangor Golf Club
Analysis
The response has been very encouraging thus far despite the soft property market and Ativo Suites’ high selling price. It is the highest benchmark in its location. The positive response could be due to several factors. The MRT Line 2, the overall masterplan, a known property developer, and possibly the project’s quality in material selection and branded fittings.
Ativo Suites will be part of the same strata parcel as the completed Ativo Plaza, a low-rise commercial development with shops and offices. The design is expected to fully integrate the existing linear park and ensure the continuity of commercial activities.
Ativo Suites tries to provide uninterrupted views, especially on the northwest side, facing the Forest Research Institute of Malaysia, and the southeast side, facing KL City and Desa Park City. Do check with the sales personnel if you have a preferred facing-direction.
Here’s a quick review of high-rise developments in Bandar Sri Damansara.
|
Project |
Land Tenure |
Unit Type |
Completion |
Built-up |
Approximate Launch Price |
|
Ativo Suites by TA Global |
Freehold |
Serviced Apartment |
2021 |
499 sq ft – 1,498 sq ft |
RM481,000 – RM1,519,800 |
|
Azelia Residence by TA Global |
Freehold |
Serviced Apartment |
2014 |
615 sq ft – 3,433 sq ft |
From RM350,000 |
|
South Brooks by Perdana ParkCity |
Freehold |
Condominium |
2021 |
876 sq ft – 1,537 sq ft |
From RM535,000 |
|
SD Tower by Land & General Berhad |
Freehold |
Condominium |
N/A |
1,064 sq ft – 1,130 sq ft |
From RM350,000 |
|
Paradesa Tropika 2 by Land & General Berhad |
Freehold |
Apartment |
2006 |
1,120 sq ft – 1,200 sq ft |
From RM180,000 |
|
Damansara Foresta by Land & General Berhad |
Freehold |
Condominium |
2016 |
1,425 sq ft – 1,610 sq ft |
From RM570,000 |
Summary
Ativo Suites makes a rather compelling investment choice for both rental returns and appreciation. Let’s take a look at Azelia Residences (also by TA Global) within Damansara Avenue, which was sold in 2011 at approximately RM400,000 and completed in 2014. As at June 2019, the 614 sq ft units are listed in PropertyGuru between RM530,000 to RM680,000, with rental between RM1,600 and RM2,150. Taking an average rent of RM1,800, and purchase price of RM600,000, the gross rental yield amounts to 3.6% and market value that’s up by 50%.
So, if Azelia Residences is any indication of rental returns and capital appreciation in Damansara Avenue, Ativo Suites should be able to perform well in the market as well.
The developer is confident that Ativo Suites, with its strategic location of Damansara Avenue which will be serviced by the new MRT Line 2, its affordable and competitive pricing, and comprehensive facilities, will meet the demand and supply of the young demographic.
TA Global is planning the next phase of Damansara Avenue, Ativo Annexe – a 15-acre mixed-use development that will feature a mall, office towers, residential towers, a college, a medical centre and senior living apartments. It will be connected to the upcoming Sri Damansara East MRT station via a pedestrian link bridge as well.
