Pantai Hillpark is located near the residential enclaves of Bangsar South and Bukit Pantai. This hilltop residence is considered as one of the great successes of property development in the Klang Valley.
Continue Reading ⋅ 19 February 2022
Platinum OUG Residence in Bukit Jalil, Kuala Lumpur is being undertaken by Platinum Victory Development, a company founded in 1997 and is one of the major property developers who played an important role in transforming Setapak from a backwater area into the flourishing township it is today.
With a gross development value (GDV) of around RM441 million, the subject project consists of three 41-storey blocks offering a total of around 1,320 units sited on 5.48 acres of leasehold land with a residential title. This leasehold development is expected to be completed by 2021.
Address: No. 2, Jalan Jalil Muhibbah, Kg Muhibah, Bukit Jalil, Kuala Lumpur
Property Type: Condominium
Land Title: Residential
No of Storeys: 41
No of Blocks: 3
- Block A: PPA1M (660 units; 1,000 to 1,500 sq ft)
- Block B: RUMAWIP (220 units; 850 sq ft)
- Block C: Condominium (440 units; 850 to 1,250 sq ft )
Total Units: 1320
Tenure: Leasehold
Sales Gallery: Unit No. 1-G, Medan Kelang Lama 28, No. 419, Jalan Kelang Lama, 58000 Kuala Lumpur
Site GPS Coordinates: 3.064112, 101.660113
Expected Date of Completion: 2021
Built-up area: 850 sq ft – 1,500 sq ft
Facilities:
- Swimming Pool
- Wading Pool
- Basketball Court
- Playground
- Outdoor Gym
- Gym
- Nursery
- Kindergarten
- Reading Room
- Multipurpose Hall
- Guardhouse
- Reception
Launch Price: RM299,000 – RM557,000
Price psf: From RM350 per sq ft
Maintenance Fee psf: RM0.25 (including sinking fund)
Parking Bay/s per Unit:
- Block B: 1 bay
- Block C: 2 bays
Special Features:
- Dual-Key Layout for dual investment yield
Project Details
Platinum OUG Residence’s Tower A houses 660 PPA1M units with built-up areas ranging from 1,000 sq ft to 1,500 sq ft. Tower B contains 220 RUMAWIP units and Tower C has 440 condo units. The last two kinds of units measure from 850 sq ft to 1,250 sq ft, and come with at least 3 bedrooms and 2-3 bathrooms. Apart from the low-cost RUMAWIP and PPA1M units, there are also dual key units. These homes cost between RM299,000 and RM557,000, which translates to about RM350 psf.
|
Type |
Launch Price |
Built-Up |
No. of Rooms |
|
A |
|
1,000 sq ft |
3R,3B |
|
B |
|
1,100 sq ft |
3R,3B |
|
C |
|
1,200 sq ft |
3R,3B |
|
C1 (Dual Key) |
From RM557,000 |
1,250 sq ft |
3R,3B |
|
D |
|
1,500 sq ft |
3R,3B |
|
E (RMM Unit) |
From RM299,000 |
850 sq ft |
3R,2B |
The leasehold project comes with a plethora of facilities. There’s an aqua gym and indoor gymnasium for fitness enthusiasts, in addition to the basketball court, jogging track, sauna room, wading pool and infinity swimming pool. Residents are also safeguarded by round-the-clock multi-tier security. It also features a reading room, multipurpose hall and launderette. Those with kids will surely be glad that the development is equipped with a landscape garden, playground, kindergarten and nursery.
Among the notable things about Platinum OUG Residence is that it comes with units offered under the 1Malaysia Civil Servant Housing Project (PPA1M), Putrajaya’s residential project for government employees. There are also RUMAWIP units, or Federal Territories Affordable Housing Project. Beside studios, the development also offers dual key units, which are the ideal type for renting out.
Location
One of the most attractive things about Platinum OUG Residence is it’s situated in Bukit Jalil, an already mature and bustling area in Kuala Lumpur. Another good thing is that it’s merely a 300-metre walk to the Muhibbah LRT Station.
The leasehold development, which includes affordable housing, is also just a short-drive from the heart of the capital and Petaling Jaya, thanks to its accessibility to major roads like the Federal Highway and Maju Expressway (MEX), as well as to the New Pantai Expressway (NPE), and KESAS Highway. This enables motorists to easily travel to other prominent areas like Bangsar, Sri Petaling, Subang Jaya, Kuchai Lama, and Bandar Sunway in 30 minutes or less (depending on the traffic situation).
Moreover, Platinum OUG Residence is just 2km away from two highly anticipated megamalls – Pavilion 2 Bukit Jalil, and Paradigm Mall Bukit Jalil, while existing popular shopping centres Mid Valley Megamall, and Sunway Pyramid are slightly farther away at 7km and 10km respectively.
Apart from being close to Bukit Jalil Golf & Country Resort and the Bukit Jalil Recreation Park, the leasehold residential project is also within close proximity to schools such as IMU University and APU College, while SJK(C) Lai Meng and SK Seri Indah are in the immediate vicinity.
Analysis
|
Name |
Completion Date |
Tenure |
No. of Blocks |
No. of Storeys |
Selling Price |
|
Platinum OUG Residence |
2021 |
Leasehold |
2 |
41 |
Starts from RM299,000 |
|
Residensi Bintang |
2022 |
Leasehold |
2 |
47 & 50 |
Starts from RM553,000 |
|
Paraiso Residence, The Earth |
2020 |
Leasehold |
3 |
40 |
Starts from RM499,200 |
Pros
Among the most desirable things about Platinum OUG Residence is the affordable starting price of RM299,000, which falls under the federal government’s definition of affordable housing. As a matter of fact, its home prices are substantially lower than that of two other leasehold projects in the same vicinity, namely Paraiso Residence and Residensi Bintang. Moreover, the subject development comes with a decent number of facilities and offers studios and dual key units for those looking for investment opportunities.
Cons
The biggest drawback is that the low-cost housing units – PPA1M and RUMAWIP – can only be purchased by qualified Malaysians. PPA1M is only available to government employees, while RUMAWIP is only offered to Malaysians living or working in Wilayah Persekutuan (Federal Territories) falling under a certain income bracket. Another negative thing about Platinum OUG Residence is its high density of about 1,320 units. Also, some buyers of the condo units have complained about sharing facilities with PPA1M and RUMAWIP unit owners.
Summary
Platinum OUG Residence is perfect for families who want to live close to the heart of Kuala Lumpur and other major urban areas in Klang Valley like Petaling Jaya, without breaking their bank accounts. However, the affordable homes in this project are only available to a select group of buyers.
Except for those who bought the typical and more expensive condo units, the government-subsidised PPA1M and RUMAWIP units come with restrictions that may negatively impact their investment potential. For instance, there’s a moratorium for selling or renting.
Assuming you take out a RM239,200 loan (80% LTV) with an interest rate of 4.6% that is payable in 30 years to purchase a RM299,000 unit in Platinum OUG Residence, your monthly debt instalments work out to RM1,226. Following experts’ advice that your monthly expenses on housing should not exceed 30% of your salary, you need an income of at least RM4,087 per month to be able to afford a unit in this project.
