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Continue Reading ⋅ 25 January 2021
MH Platinum Sdn Bhd’s latest property venture, MH Platinum 2 Residences, is a 4.72-acre project in Setapak. The residential development nestles in a prime location with a myriad of surrounding amenities in the mature township, including public transportation (LRT stations), shopping malls, healthcare, recreational, and education institutions.
The leasehold MH Platinum 2 Residences is inspired by East and West influences, where the courtyard provides residents a serene private enclave. There are also a host of urban and leisure facilities, including swimming pools, BBQ area, lounge decks, hammock garden, sunset deck, and fitness facilities such as a jogging track and a reflexology path.
Image source from MH Platinum
MH Platinum 2 Residences’ offers great access from all parts of Kuala Lumpur, and it is just a short distance from landmarks such as KLCC and KL Sentral.
MH Platinum 2 Residences is a collaboration between MH Group and Platinum Victory, and the sales gallery was launched on 1 October 2020. Visitors are advised to make a prior appointment for a more personalised tour experience.
Address: Jalan Usahawan, Setapak, Kuala Lumpur
Property Type: Service Apartment (Strata)
Land Title: Commercial
Development Area: 4.728 acres
Total Units: 1,254 (Block A – 418 units, Block B – 418 units, Block C – 418 units)
Tenure: Leasehold
Sales Gallery: Persiaran Pertahanan, Wardieburn Camp, 53100 Wilayah Persekutuan, Kuala Lumpur
Year of Completion: N/A (Launched in Oct 2020)
Built-up Area: 663 sq ft – 857 sq ft
Facilities:
- Gymnasium
- Entertainment hall (TV room)
- Children’s playground
- Children’s pool
- Guest lounge deck
- Reflection pool
- Swimming pool
- Spa pool
- Cabana
- Hammock garden
- Landscape area
- Multi-purpose hall
- Sunset deck
- Barbeque area
- Lounge
- Laundrettes
- Shops
- Surau
- Maintenance office
- Management office
- Sauna
- Cafeteria
- Jogging track
- Outdoor fitness
- Reflexology
Launch Price: From RM318,500
Project Details
There are 3 blocks, with a total of 1,254 units. Each block will have 418 units. The unit sizes are all below 900 sq ft, which makes it ideal for young adults, couples and small families.
Image source from MH Platinum
Units with views, will either get one of the following – pool view, Wangsa Maju, Setapak, KL City Centre, or landscape.
|
Unit Types |
Built-Up |
Launch Price |
|
Type A / A1 |
· 663 sq ft · 2 bedrooms · 2 bathrooms |
From RM331,500 |
|
Type B / B1 |
· 692 sq ft · 3 bedrooms · 2 bathrooms |
From RM318, 500
|
|
Type C / C1 |
· 821 sq ft · 3 bedrooms · 2 bathrooms |
From RM318, 500
|
|
Type D / D1 |
· 857 sq ft · 3 bedrooms · 2 bathrooms |
N/A |
Image source from MH Platinum
Location
MH Platinum 2 Residences is located along Jalan Usahawan 6, and it is close to the Royal Selangor Pewter visitor centre. Residents and visitors can join in the pewter-craft workshops, visit its museum, and stop by the café.
Image source from MH Platinum
Another attraction is Air Panas in Jalan Genting Kelang, Setapak. The name is from area’s natural thermal pools back in the 1960s and 1970s. Even though the hot springs is not a popular as before, you can still find a pool in the compound of Resource Springs Apartment. The hot spring is opened daily from 7am to 8pm, and the entry fee is RM2.
As for accessibility, residents will enjoy easy access to major highways including the Duta-Ulu Kelang Expressway (DUKE), Middle Ring Road 2 (MRR2), Ampang-Kuala Lumpur Elevated Highway (AKLEH), and the under-construction DUKE 3 (Setiawangsa Pantai Expressway).
The upcoming Sungai Buloh-Serdang-Putrajaya MRT (mass rapid transit) line will include a station at Sentul West, which is close to Setapak. This accords residents in Setapak with greater accessibility.
Accessibility
- Jalan Usahawan 6
- Jalan Genting Klang
- Duta-Ulu Kelang Expressway (DUKE)
- Proposed Setiawangsa-Pantai Expressway (DUKE 3)
- Middle Ring Road 2 (MRR2)
- Ampang-Kuala Lumpur Elevated Highway (AKLEH)
- LRT Kelana Jaya Line (Wangsa Maju station)
- LRT Kelana Jaya Line (Sri Rampai station)
Education
- SJK (C) Wangsa Maju
- Sri Utama International School
- SJK (C) Mun Yee
- SMK Danau Kota
- SMJK Chong Hwa
- SRJK (C) Chong Hwa
- SK Danau Kota
- SK Setapak
- Universiti Teknologi Malaysia
- SMK Gombak Setia
- TAR University College 3km
- SK Taman Melati
- Malaysia Institute of Art 3km
- Fairview International School
Medical Care
- Rampai Puteri Medical Centre
- Columbia Asia Hospital
- Hospital Angkatan Tentera Tuanku Mizan
- Damai Service Hospital
- Hospital Pusrawi
- Institut Janting Negara (IJN)
- Hospital Kuala Lumpur
- KPJ Tawakkal Specialist Hospital
Shopping
- Giant Hypermarket Setapak 1km
- Rampai Business Park 1km
- PV 128 1km
- NSK Wangsa Maju
- Setapak Central Mall
- Platinum Walk
- The Palette
- AEON Alpha Angle
- Wangsa Walk Mall 3km
- AEON Big Wangsa Maju
- Giant Ulu Kelang
- Melawati Mall 8km
- AEON Mall AU2
- Suria KLCC
Recreation
- Royal Selangor Visitor Centre
- National Art Gallery
- Istana Budaya
- Royal Selangor Golf Club
- Titiwangsa Golf Course
Analysis
Setapak is mostly populated students, as it is home to many educational institutions there, such as Tunku Abdul Rahman University College, Universiti Teknologi Malaysia, Malaysia Institute of Art, Institute of Childhood Education-Studies & Community Education, VTAR Institute, Malaysian Institute of Art, Dasein Academy of Art, AlDiwan International Centre for Teaching Arabic and many more. With this, rental prospects should remain healthy.
Image source from MH Platinum
The population in Setapak have also increased over the years, following the development of condominiums, shopping malls and commercial properties. Shopping malls such as Setapak Central Mall (formerly KL Festival City), AEON Alpha Angle, Melawati Mall, AEON BiG and Wangsa Walk Mall cater for the residents of Setapak and Wangsa Maju.
Here’s a look at residential properties within or close to Setapak.
|
Project |
Land Tenure |
Unit Type |
Completion |
Built-up |
Approximate Launch Price |
|
MH Platinum 2 Residences by MH Platinum Sdn Bhd |
Leasehold |
Service Apartment |
N/A |
663 sq ft – 857 sq ft |
From RM318,500 |
|
SkyAwani 4 Residence by Skyworld Development Sdn Bhd |
Leasehold |
Condominium
|
2023
|
800 sq ft |
From RM300,000 |
|
PV9 Residences @ Taman Melati by Platinum Victory Development Sdn Bhd |
Leasehold |
Service Residence |
2022
|
850 sq ft – 1,300 sq ft |
From RM530,000 |
|
Bennington Residences by Bennington Development Sdn. Bhd. |
Leasehold |
Condominium
|
2019 |
1,092 – 1,570 sq ft
|
From RM589,680
|
|
Residensi Vista Danau Kota by Platinum Victory Development Sdn Bhd |
Leasehold
|
Apartment |
2023 |
810 sq ft |
From RM300,000 |
|
PV18 Residence by Platinum Victory Development Sdn Bhd |
Leasehold |
Condominium
|
2021
|
1,021 sq ft – 1,219 sq ft |
From RM473,000 |
|
Kenwingston Platz by Kenwingston Sdn Bhd |
Freehold |
Serviced Apartment |
2023 |
650 sq ft – 1,010 sq ft |
From RM350,000 |
Summary
One of the factors that make Setapak an attractive place to live in is the short distance to the city centre, while property prices are much lower than the city centre.
Image source from MH Platinum
If you’re looking at a MH Platinum 2 Residences unit priced at RM320,000, the monthly repayment is approximately RM1,141. This is based on:
- LTV / margin of finance: 90% (10% down payment)
- Loan amount: RM288,000
- Loan term: 35 years
- Interest rate: 3.2%
- Approximate required gross annual income: RM37,500*
These calculations are based on the PropertyGuru Home Loan Calculator, and PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
* 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.
To know exactly how much home loan you can get from the banks and whether you can afford this property, you can use the PropertyGuru Loan Pre-Approval. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
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