Ridzuan Condominium, Bandar Sunway

Review

Pavither
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19 February 2022

Ridzuan Condominium is a leasehold development located at Jalan PJS 10/11, Taman Sri Subang, in Bandar Sunway. This condominium was completed in 1999, and back then, it was considered a high-end project. Many units were rented by Taylor’s University’s students until the campus relocated to a larger site.

Ridzuan Condominium was considered a good addition to the Selangor property, and it benefited from the property boom and its location. It posed as an ideal investment property for many years.

Developed by Bandar Subang Sdn Bhd, Ridzuan Condominium sits right beside PJS 10 Park. Despite being an old development, it offers several facilities such as a gymnasium, mini market, playground, swimming pool, tennis court and squash court.

Residents need not venture far to enjoy a range of amenities. Apart from the mini-mart in the development, there’s the Sunway Mentari Business Park that offers food, laundrette, hair salon, sundry shops, and more.

Address: Jalan PJS 10/11, Taman Sri Subang, 47300 Selangor

Property Type: Condominium

Land Title: Residential

No. of Blocks: 3

Total Units: N/A

Tenure: Leasehold

Year of Completion: 1999

Built-up Area: 590 sq ft

Facilities:

Gymnasium
Mini market
Playground
Squash court
Swimming pool
Tennis court
Security

Launch Price: From RM270,000

Ridzuan Condominium consists of 3 blocks, with 28 floors. The built-up area of the units are from 590 sq ft to 1,468 sq ft. Buyers had the option of selecting from different designs.

Majority of residents at Ridzuan Condominium are students. Most of them were students from Taylor’s University College. However, the learning institution relocated to a large campus in 2010, behind the Lagoon Perdana development.

Despite that, owners still have plenty of students to rent to as there are several other learning institutions nearby, including Monash University Malaysia, The One Academy, INTI International College Subang, and Sunway College.

Ridzuan Condominium provides facilities, where residents can work out within the compounds of the development. The development also provides parking facility and security for its residents. Back then, the selling price of the units started from RM270,000, and it goes up according to the level, view, and design.

Overall, one could say that for an older development, it is well kept enough and thus, still offers a nice environment.

Ridzuan Condominium stands right next to PJS 10 Park, and its neighbours are Subang Ville Ehsan, Aman Luxury and Sunway Suriamas.

Additionally, the condominium is located across SK Kampung Lindungan, and Sunway Mentari Business Park, a commercial centre with eateries, convenience stores, and more.

For more amenities, residents can take a 15-minute walk to Sunway Pyramid, where one can get basically everything one needs.

In terms of accessibility, the leasehold Ridzuan Condominium is few minutes away from expressways, including New Pantai Expressway (NPE), Damansara-Puchong Expressway (LDP), Federal Highway, and Shah Alam Expressway (KESAS).

For those relying on public transport, there’s the Kampung Dato Harun KTM Station, Seri Setia KTM Station, Setia Jaya KTM Station, and Subang Jaya KTM. Buses and taxis that ply the area are also aplenty.

Apart from its strategic location, the area is surrounded by plenty of amenities. Residents need not worry as everything is easily available in the locality, including PJS 10 Park beside the development, Subang Ria recreational park, Sunway Pyramid mall with an ice skating rink, and Sunway Mentari Business.

As for other developments close to Ridzuan Condominium, there’s Subang Ville Aman Luxury, Sunway Suriamas, and Subang Ville Ehsan.

Educational institutions close to the development include Sekolah Kebangsaan Kampung Lindungan, Sri Emas International School, Monash University Malaysia, The One Academy, INTI International College Subang, Sunway College, and Taylor’s Lakeside Campus.

Furthermore, there are many eateries, worship places, petrol stations, and more in the area. With the catchment of the student population in a mature area, businesses catering to their needs could do well.

Accessibility

New Pantai Expressway (NPE)
Damansara-Puchong Expressway (LDP)
Federal Highway
Shah Alam Expressway (KESAS)
KTM Komuter Setia Jaya (KD08)
BRT Mentari (SB2)

Education

Taylor’s Lakeside Campus
Monash University Malaysia
The One Academy
INTI International College Subang
Sunway University
USCI International School
Sri Kuala Lumpur International School
Sri Emas International School
ETrain College
Kasturi College International
SMK Subang Jaya
SMK Subang Utama
SK Kampung Lindungan

Medical Care

Sunway Medical Centre
Subang Jaya Medical Centre

Shopping

Sunway Pyramid
Mydin Hypermarket
Sunway Mentari Business Park
Sunway GEO Avenue
Subang Parade
Empire Shopping Gallery
Summit USJ
Decathlon USJ

Recreation

PJS 10 Park
Sunway Lagoon Resort
XPark, Sunway South Quay
Kelab Golf Negara Subang

For investors, this is a good property to look into, due to its close proximity to several renowned colleges/universities and entertainment centres. Plus, it’s a short drive to Sunway and other areas in Petaling Jaya.

Pros

Many amenities within walking distance
Facilities, despite being an older development
Ready rental from students attending nearby educational institutions

Cons

Traffic jam, especially during peak hours
Limited parking lots, so residents park at the roadside

Here’s a quick look at residential properties in Subang.

Project	Land Tenure	Property Type	Completion	Built-up	Approximate Launch Price
Ridzuan Condominium by Bandar Subang Sdn Bhd	Leasehold	Condominium	1999	From 590 sq ft	From RM270,000
Suriamas @ Bandar Sunway by Skillcet Holdings Sdn Bhd	Leasehold	Condominium	2008	1,245 – 1,300 sq ft	RM186,800
A’marine Lakeside Condominium by Sunway Group	Leasehold	Condominium	2013	1,306 sq ft – 2,386 sq ft	From RM807,400
Nadayu28 by Nadayu Properties Bhd	Leasehold	Condominium	2015	990 – 1,850 sq ft	RM700,000
Subang Ville Ehsan	Leasehold	Apartment	N/A	843 sq ft – 950 sq ft	From RM218,700
Icon Residenz by Mah Sing Group	Leasehold	Serviced Apartment	2016	675 sq ft – 1,405 sq ft	From RM562,000
Sunway GEOSense Residence (aka Sunway Geo Residence 2) by Sunway Group	Leasehold	Condominium	2018	654 – 956 sq ft	RM650,000
Lot 15 by Sime Darby Property	Freehold	Serviced Residence	2021	624 sq ft – 1,001 sq ft	From RM593,888
D’Latour by DK Properties	Leasehold	Serviced Apartment	2016	724 sq ft – 883 sq ft	From RM830 psf

Most owners are investors and not owner-occupiers, and they love Ridzuan Condominium as it has delivered good gross rental yield of 7% to 9% over the years.

As more developments close to Ridzuan Condominium complete, the returns have reduced, but it still fetches decent gross rental yield. However, tenants might prefer a newer apartment to rent, especially if the monthly rental is similar.

Available listings in PropertyGuru in February 2021 show that the asking monthly rental for 1,190 sq ft units are approximately from RM1,250 to RM1,450, while purchase prices are from RM300,000 to RM368,000.

For units purchased at RM300,000, and rented out at RM1,300 per month, the gross rental yield would be 5.2% per annum.

Figures for a home loan

The below are based on a unit priced at RM300,000.

LTV / margin of finance: 90%
Down payment (10%): RM30,000
Loan amount: RM270,000
Loan term: 30 years
Interest rate: 3.2%
Monthly repayment: RM1,168
Approximate required gross annual income: RM47,000*

* 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.

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

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