Binjai 8 Premium SoHo, Kuala Lumpur

  • Pavither
  • 26 February 2021

Under the wing of esteemed and award-winning developer UOA Group, Binjai 8 Premium SoHo (also known as Binjai 8) is the first such development undertaken by the group. This maiden SoHo development was made available for sale in late 2009 and received an impressive response with reportedly 60 per cent take-up during the unofficial launch.

Binjai 8 is a freehold Small-Office-Home-Office (SoHo) development in the acclaimed and much sought after Kuala Lumpur City Centre (KLCC) area.

This premium SOHO development by UOA Group is situated on Lorong Binjai in the Kuala Lumpur City Centre (KLCC).

Located on the last plot of prime land along Lorong Binjai behind Menara Citibank and Intercontinental Hotel on Jalan Ampang, this contemporary development is an integrated concept serviced suite complete with business facilities.

The striking tower offers flexibility, comfort, and convenience, in a premium location. With the evolving economic trends, Binjai 8 is a practical option for today’s thriving business owners and entrepreneurs seeking an office-cum-living space in the heart of the city.

Address: 298 Lorong Binjai, 50450 Kuala Lumpur

Developer: UOA Group

Property Type: Serviced Suites

Land Title: Commercial

Total Units: 310

Tenure: Freehold

Year of Completion: 2013

Built-up Area: 753 sq ft – 1,785 sq ft

Facilities:

  • Gymnasium
  • Infinity pool
  • Meeting rooms
  • Function hall
  • Sky lounge
  • Broadband ready
  • 8 high-speed lifts

Launch Price: RM995,920

Launch Price Per Sq Ft: RM840 per sq ft

Maintenance Fee: RM0.40 per sq ft

Project Details

This premium SOHO development by UOA Group is situated on Lorong Binjai in the Kuala Lumpur City Centre (KLCC).

The 1-acre plot was purchased with the development order for serviced residences but after conducting market research, the project was converted to a SoHo development to meet the rising demand for live-in working spaces.

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This freehold high-rise has a gross development value (GDV) of RM1.6 billion and was completed in 2013.

The façade of Binjai 8 features contemporary lines, while internally, it is designed with versatility in mind as units function as office spaces, private residences, or both. As Binjai 8 is a SoHo development, its general tone skews more towards being a commercial building rather than a residence.

As such, it has touch-access entrance gates which is commonly found in office buildings, and very formal-looking lift lobby and corridors. The common areas are brightly lit and the corridors and units have centralised air conditioning.

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To comply with regulatory requirements, there are also multiple fire doors and accesses for occupants’ safety. The building is broadband-ready, and all units come with at least one lavatory in the general area, for use as a common washroom for guests.

This 40-storey glass-clad tower has 310 units, with built-ups ranging from 753 sq ft up to 1,785 sq ft offering a choice of 1 up to 4 rooms.

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There are 9 to 10 units per floor with 8 high-speed lifts. Facilities include a pick-up and drop-off bay, lobby with waiting area and reception counter, glass-edge pool, glass-clad gymnasium overlooking the pool, meeting rooms, and a double-ceiling sky lounge on the top floor that offers views of the surrounding KLCC area.

There are also retail shops on the ground floor, currently tenanted to convenience stores and cafes.

Unit Types

Built-Up

Launch Price

Type A1

·       753 sq ft

·       1 room

·       2 bathrooms

 

 

 

 

 

 

 

From RM995,920

Type A2

·       1,031 sq ft

·       2 rooms

·       2 bathrooms

Type A3

·       1,387 sq ft

·       3 rooms

·       3 bathrooms

Type B1

·       761 sq ft

·       1 room

·       2 bathrooms

Type B2

·       1,347 sq ft

·       2 rooms

·       2 bathrooms

Type C3

·       1,785 sq ft

·       4 rooms

·       3 bathrooms

 
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Location

Binjai 8 is located on Lorong Binjai, a short road running parallel to Jalan Ampang in the Kuala Lumpur City Centre (KLCC), at the back of Intercontinental Hotel (previously Hotel Nikko) and Menara Citibank.

It is surrounded by office towers and skyscrapers, hotels, high-end residences, and retail complexes. The Troika and The Corinthian are Binjai 8’s very proximate neighbours, while the conglomerate comprising Suria KLCC, The Petronas Twin Towers and KLCC Park are less than 1km away.

This premium SOHO development by UOA Group is situated on Lorong Binjai in the Kuala Lumpur City Centre (KLCC).

The Ampang Park LRT Station is a short 450m away, easily accessible by foot as are many of the large commercial buildings and malls in the area.

Binjai 8 is close to major city roads like Jalan Ampang, Jalan Tun Razak, and the Ampang-Kuala Lumpur Elevated Highway (AKLEH Highway) which connects to other parts of the city, the Klang Valley, and the Greater Kuala Lumpur.

Residents can also hop on the free shuttle Go KL City Bus that runs for most of the day within the city centre. The nearest for this service is at Menara Citibank.

Binjai 8 sits right in the heart of the city, and therefore, there are various public amenities conveniently within reach. Choices for shopping, entertainment, nightspots, restaurants, bistros, cafes and hawker fare are amply available.

For a healthy outdoor alternative, the 50-acre urban KLCC Park is located nearby. It’s a popular spot for joggers in the mornings and evenings.

Accessibility

  • Ampang Park LRT Station
  • Go KL City Bus (Free shuttle bus service)
  • Jalan Tun Razak
  • Jalan Ampang
  • Ampang-Kuala Lumpur Elevated Highway (AKLEH Highway)
  • SMART Tunnel 

Education

  • Universiti Tun Abdul Razak (UniRazak)
  • INTI International College Kuala Lumpur
  • Erican College (KLCC Campus)
  • Raffles College of Higher Education, Kuala Lumpur
  • SJKC (P) Chung Hwa, Kuala Lumpur

Medical Care

  • Tung Shin Hospital
  • Prince Court Medical Centre
  • Gleneagles Hospital, Kuala Lumpur

Shopping

  • The Linc
  • Suria KLCC
  • Pavillion Kuala Lumpur
  • Fahrenheit 88
  • Starhill Gallery
  • Lot 10 Shopping Centre
  • Sungai Wang Plaza
  • Plaza Low Yat
  • Bukit Bintang Shopping Centre

Recreation

  • KLCC Park
  • Aquaria KLCC
  • KL Forest Eco Park (previously known as Bukit Nanas Forest Reserve)
  • Royal Selangor Club
  • Royal Selangor Golf Club
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Analysis

Binjai 8 is a premium and contemporary SoHo development primarily favoured for its prime location and quality delivery by an award-winning developer, UOA Group.

With the expanding gig economy, the SoHo concept has become widely accepted and appealing due to the flexibility and convenience of having the office and home in one location.

While a home office can be set-up in any home per se, a SoHo development has more to offer, portraying a more professional workspace with supporting business facilities.

While a home office can be set-up in any home per se, a SoHo development has more to offer, portraying a more professional workspace with supporting business facilities.

In line with that, the overall design, look and feel of Binjai 8 is tailored more towards a commercial complex rather than a residence and lacks the finer and cosy touches normally associated with a pure serviced residence.

Binjai 8’s location is undoubtedly strategic, ideal and convenient. However, developments in the city centre are more often than not shoulder to shoulder, ensuring every available inch of space is utilised.

Binjai 8 is no exception with The Troika and The Corinthian situated in very close proximity. This raises some privacy concerns as there are units that face directly into units in The Troika at rather close range.

The surrounding buildings also block the flow of natural light resulting in dark internal space despite the tall windows in Binjai 8. As such, tenants will likely need to rely heavily on artificial lighting throughout the day. While this is expected for an office environment, it may not be too favourable for a pure residence.

The entrance to the building is also rather busy and faces the loading bays of the adjacent buildings. Nevertheless, these trade-offs are rather well expected and accepted in exchange for a prominent address in the heart of the city.

Short term rentals of Binjai 8 units are also rather popular due to the comparatively spacious units, excellent location and competitive price. As listed on a well-known hotel booking website, a 2-bedroom unit at Binjai 8 can be rented for RM243 per night.

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Overall, Binjai 8 is a fine choice as an integrated work and living space due to its contemporary and professional-looking design, ambience, facilities, and location.

However, purely as a residence, one would want to consider factors such as privacy, due to the constant flow of business and rental guests in and out of the premise, and the general characteristics of the tower tilting towards being a commercial rather than a residential address.

Here’s a quick look at residential properties in the KLCC area.

Project

Land Tenure

Unit Type

Completion

Built-up

Approximate Launch Price

Binjai 8 Premium SOHO by UOA Group

Freehold

SoHo

2013

753 sq ft – 1,785 sq ft

From RM995,920

Desa Kudalari Condominium by Tan & Tan Developments Bhd

Freehold

Condominium

1985

800 – 5,152 sq ft

N/A

Pavilion Residences by Urusharta Cemerlang

Leasehold

Condominium

2009

1,057 sq ft – 17,718 sq ft

From RM900 psf

The Troika by BDRB Developments Sdn Bhd

Freehold

Service Residences, SoHo, Penthouses

2010

Soho: 960 –  1,800 sq ft

Standard: 2,000 – 3,336 sq ft

Penthouse: 5,443 – 21,688 sq ft

Soho: From RM1,015 per sq ft

Standard: From RM920 per sq ft

Verticas Residensi by Wing Tai Malaysia Berhad

Freehold

Condominium

2012

1,427 sq ft – 5,342 sq ft

 

From RM1.7 million

SOHO Suites @ KLCC by Jadepot Development Sdn Bhd

Freehold

Serviced Residence

2013

601 – 877 sq ft

From 450,000

Quadro Residences by Monoland Development Group

Freehold

Condominium

2013

1,800 – 2,300 sq ft

From RM1,600,000 to RM2,000,000

The Corinthian

Freehold

Condominium

N/A

1,509 – 4,123 sq ft

N/A

Dorsett Residences Bukit Bintang by Far East Consortium International Limited

Freehold

Serviced Apartment

2018

652 sq ft – 1,331 sq ft

From RM1.25 million

 

Yoo8 serviced by Kempinski (Tower B) by KSK Land

Freehold

Serviced Residence

 

2020

705 sq ft – 1,328 sq ft

 

From RM2.3 million

Impression U-Thant by Yong Tai

Freehold

Condominium

2021

782 sq ft – 1,632 sq ft (dual-key)

From RM1.38 million

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Summary

The luxurious Binjai 8 features practical and flexible SoHo spaces, and it was well-received by the growing number of entrepreneurs and small business owners who seek to live and work in the heart of the city.

Being a short walking distance from public amenities and transportation, and the many major landmarks in the city, it offers convenience and comfort in a prime and strategic location. However, as a SoHo development, there are a few pros and cons to consider, from the perspective of a business owner versus a full-fledged resident at Binjai 8.

lobby

A check on PropertyGuru.com.my in February 2021, show that listings for 2-room 2-bathroom 1,031 sq ft furnished unit are approximately RM1,200,000.

Asking rental for a similar unit is at RM3,000 per month while smaller units have an asking price of RM2,000 per month. Therefore, the gross rental yield for a smaller unit is approximately 2.5% per annum.

Here are estimated loan figures for a Binjai 8 unit priced at RM1,200,000.

  • LTV / margin of finance: 90%
  • Down payment (10%): RM120,000
  • Loan amount: RM1,080,000
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM4,671
  • Approximate required gross annual income: RM187,000*

Calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru Home Loan Eligibility and Affordability Calculator.

If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It has a 99.9% accuracy, which helps in avoiding loan rejections.

* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.

 

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Eric Wong

Pavither

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