Poly Ritz Development Berhad is a growing property developer in Malaysia. Headquartered in Jalan Raja Chulan, Kuala Lumpur, the company has been established since 1999.
Two subsidiaries under Poly Ritz are namely Poly Ritz Green and Poly Ritz Communities, in which the latter is responsible for the Ritz Communities project. Poly Ritz Communities is established with a vision to provide affordable housing for the mass market.
The company has also entered into a JV with China based Debao Property Development Ltd. which is a public listed company in Singapore. Some of Poly Ritz’s completed developments include Residence 33 in Kota Kemuning, Pandan Business Park in Kuchai Lama and Richway Industrial Park in Cheras.
It is currently in the midst of developing Ritz Avenue in Jalan Kuching and Ritz Communities in Salak South. In the near future, it is planning to develop a high rise residential tower in Kuchai Lama, D’Ritz Residence.
Address: Salak South, Kuala Lumpur
Property Type: Condominium
Land Title: Residential
No. of Storeys: 49
No of Units: 1,120
No of Blocks: 2
Tenure: Leasehold
Sales Gallery: A-G- 5 Kuchai Exchange, 43, JALAN KUCHAI MAJU 13, 58200 Kuala Lumpur
Site GPS Coordinates: –
Expected Date of Completion: 2020
Built-up area: 800 sq ft
Facilities:
Swimming Pool
Children Playground
Kindergarten
Surau
Changing Room
Landscape
Pool Deck
Gymnasium
Jogging Track
Multipurpose Hall
BBQ Pit
CCTV Monitoring
Guardhouse
Gated & Guarded
Launch Price: RM300,000
Price psf: Approximately RM 375 psf
Maintenance Fee psf: RM0.25 per sq ft including sinking funds
Parking Bay/s per Unit: 1
Special Features:
Ritz Communities is a high-rise project developed by Poly Ritz. The project is a part of the federal government’s initiative in introducing RUMAWIP, the affordable housing for the needy in Wilayah Persekutuan.
The two blocks development is located in the heart of Salak South, near to Jalan Kuchai Maju, its sales gallery. The development will house a total of 1,120 units spread between the two blocks. It is considered to be a fairly high-density development.
There will be only one type of built-up at 800 sq ft with 3 bedrooms and 2 bathrooms. However there will be two types of layout namely type A and type B, although both are at 800 sq ft.
There will be only one fixed price for the unit at RM300,000 regardless of which view you are facing or which floor you are on. The development is only five minutes walk away from the Terminal Bersepadu Selatan MRT station.
Each unit will enjoy one free car park only and enjoy full condominium facilities. Maintenance fee is set at RM0.25 per sq ft including sinking funds. Potential buyers now will enjoy free SPA legal & SPA disbursement fees. Additionally, buyers who purchase now will get 1 unit of air conditioner and one water heater for free.
The development will come with residential title, which means that residents will have huge savings in terms of utility bills. Currently there are no show units available for viewing. However, you may visit the sales gallery to get more information.
There are several criteria to be fulfilled to be eligible to purchase a RUMAWIP. Firstly, you must ensure that your gross household income does not exceed RM10,000 for individual and RM15,000 combined if you are married as these houses are targeted to the needy.
Secondly, within 10 years of purchasing the property, you are not allowed to sell the property or transfer ownership to others, except the case where the transfer is to your spouse of children.
Thirdly, the purchased property must only be for own stay only and must not be rented out.
The potential buyer must not be declared insolvent before and each buyer will only have the chance to buy one unit per household.
There are several criteria to be fulfilled to be eligible to purchase a RUMAWIP. Firstly, you must ensure that your gross household income does not exceed RM10,000 for individual and RM15,000 combined if you are married as these houses are targeted to the needy.
Secondly, within 10 years of purchasing the property, you are not allowed to sell the property or transfer ownership to others, except the case where the transfer is to your spouse of children.
Thirdly, the purchased property must only be for own stay only and must not be rented out.
The potential buyer must not be declared insolvent before and each buyer will only have the chance to buy one unit per household.
In order to help the needy in Wilayah Persekutuan, priority will be given to those who are currently working and staying in Wilayah Persekutuan and first time home buyers. Of course, non-first time home buyers are still eligible to purchase.
This will be a fully gated and guarded residence with a 3-tier security, 24 hours CCTV and security guards patrolling.
Salak South is a fairly old township in Kuala Lumpur, which has been established since 1952. What initially started as two rows of shop houses back then has since evolved into a township with populous developments.
In the 70s, businessmen came flocking in from Ipoh and Taiping to establish industrial factories in Salak South. It was in the 80s that the government stepped in to develop the place to give it a new life.
Salak South is located nearby to flourishing suburbs such as Cheras, Taman Desa, Pudu and Brickfields. The public transportation available to its residents are LRT and KTM, namely the Salak Selatan LRT Station and KTM Salak Selatan. Other modes of transportation include public buses and cabs.
Housing in Salak South has been booming. Today we are seeing high rise condominiums being constructed throughout the township. if you have been to the town before, you will notice a considerable number of industrial factories and commercial developments.
Due to its strategic location, Salak South is connected by few of the major routes in Kuala Lumpur. If you are travelling from Kuala Lumpur City Centre, you will be utilising the KL-Seremban Highway to arrive at the township. Similarly, the township is well-connected to Cheras through Jalan Cheras.
The community in Salak South is predominantly Chinese. If you travel along the town, you will notice a number of Buddhist temples and churches in place, one of the most prominent being Church of Our Saviour located in Salak South Baru.
In terms of education, there are two famous Chinese schools in the township namely SJKC Salak South and SJKC Tai Thung.
In terms of entertainment and every need, Plaza Salak Park is the place to be. With tenant lists such as Giant, MBO Cinema, Guardian, MyBox Karaoke, Cosway and other F&B outlets, residents are able to satisfy their shopping needs as well as everyday grocery needs.
There is no major hospital within the township itself. However the nearest residents could travel to is barely 20 minutes away; Pantai Hospital Cheras.
Analysis
|
Name |
Land Tenure |
Built-up |
No. of Units |
Selling Price |
|
Ritz Communities |
Leasehold |
800 sq ft |
1,120 |
RM300,000 |
|
Sky Awani 3 Residences
|
Leasehold |
800 sq ft |
1,905 |
RM300,000 |
As the cost of living increases, there are many first time home buyers who cannot afford their first home. As a result, more and more RUMAWIP are being constructed to cater to the rising needs of these youngsters. With such an initiative by the federal government, it is advisable to act fast before the units are sold out.
SkyAwani 3 is a RUMAWIP project. RUMAWIP is an initiative by the Federal government aiming to promote affordable housing to the needy staying in Wilayah Persekutuan. The development consists of three towers, A, B and C with a total of 1,905 units. Tower A and B consists of 669 units each while Tower C has 567 units. The beauty of this development is regardless of which level you are on or which unit you picked, it will all have the same price of RM300,000.
This freehold development is sited across 5.5 acres with a total of 1,368 units. Units here are marketed as “breathable homes with a view”.
The 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.
