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
Ritze Perdana 2 is a mixed condominium development located in Jln PJU 8/1, Damansara Perdana, Petaling Jaya. It was developed by Usaha Hartamas (MK Land Holdings Bhd), and completed in early 2010. The development consists of commercial shops and 2 condominium blocks.
This leasehold project sits within the Damansara Perdana enclave, and just a few minutes away from its sister development, Ritze Perdana 1. Ritze Perdana 2 is surrounded by hypermarkets, luxury car showrooms, lifestyle restaurants, retail outlets, and Empire Damansara and PJ Trade Centre.
It is situated at Petaling Jaya’s golden triangle where new developments are constantly being introduced. Damansara Perdana is MK Land’s first mixed high-end property development, with a gross development value (GDV) of approximately RM3.6 billion. Today, Damansara Perdana is a multi-national commercial and leisure centre.
Today, our lives very much centre around convenience. Those who treasure that above all else will find the Damansara Perdana enclave an ideal place to live in.
Address: Jalan PJU 8/1, Damansara Perdana, 47820 Petaling Jaya, Selangor
Developer: Usaha Hartamas Sdn Bhd (MK Land Holdings Bhd)
Property Type: Condominium
Land Title: Mixed
No. of Blocks: 2
No. of Storeys:
- Block A: 13 & 8
- Block B: 10
Total Units: 468
- Block A: 268
- Block B: 200
Tenure: Leasehold
Year of Completion: 2010
Built-up Area: 420 sq ft – 849 sq ft
Facilities:
- Swimming pool
- Wading pool
- Gymnasium
- Squash court
- Barbeque area
- Business centre
- Cafeteria
- Covered parking
- 24-hour security
Launch Price: From RM259,000
Launch Price Per Sq Ft: Around RM350 per sq ft
Maintenance Fee: Approximately RM200
Project Details
Ritze Perdana 2 consists of 2 blocks of condominium units. In total, there are 468 units, where Block A has 268 units, and Block B has 200 units. The built-up sizes are from 420 sq ft to 849 sq ft, and the launch price was approximately RM259,000.
Each unit’s kitchen comes equipped, and there’s also an air-conditioning system and fully fitted bathrooms.
The facilities at Ritze Perdana 2 are adequate, with a barbeque area, swimming pool, cafeteria, squash courts, gymnasium, and wading pool. There’s also 24-hour security. Part of Ritze Perdana 2 face IKEA, which is one of the key landmarks in the area.
Here’s a quick comparison between Ritze Perdana 1 and Ritze Perdana 2.
|
Ritze Perdana 1 |
Ritze Perdana 2 |
|
3 blocks |
2 blocks |
|
997 units |
468 units |
|
380 sq ft, 406 sq ft, 634 sq ft |
420 sq ft – 849 sq ft |
|
Launch price: From RM96,500 |
Launch price: From RM259,000 |
|
Price for 1-bedroom unit over 5 years: About RM510 per sq ft |
Price for 1-bedroom unit over 5 years: About RM520 per sq ft |
|
Gross rental yield for 1-bedroom over 5 years: Approximately 5.7% |
Gross rental yield for 1-bedroom over 5 years: Approximately 10% |
Buying a studio unit is just like buying any other property type. One must consider all relevant factors such as location, branding, pricing, rental yield and potential for capital appreciation.
If you’re looking to purchase your first sub-sale property, here’s a complete guide that you can check out.
Location
Ritze Perdana 2 is centrally connected, with several urban development areas close by, including Mutiara Damansara, Kota Damansara, Desa ParkCity, Taman Tun Dr. Ismail, Bandar Utama, and Damansara Utama.
Moreover, this residential area has good connectivity via networks such as Lebuhraya Damansara-Puchong (LDP), Penchala Link, SPRINT Expressway, Damansara–Shah Alam Elevated Expressway (DASH) and the nearby New Klang Valley Expressway (NKVE), and Mutiara Damansara MRT station.
This means that residents are always a short drive or ride away from the Kuala Lumpur city centre, Sunway, Subang, and Puchong.
Amenities surrounding Ritze Perdana 2 includes IKEA, IPC Shopping Centre, The Curve, Lotuss (Tesco Extra), and 1 Utama, and more. Take a look at the list below.
Accessibility
- Lebuhraya Damansara-Puchong (LDP)
- Penchala Link
- North Klang Valley Expressway (NKVE)
- SPRINT Highway
- Middle Ring Road 2 (MRR2)
- Persiaran Surian
- Mutiara Damansara MRT station (SBK08)
Education
- SEGi College Kota Damansara
- Sri KDU / KDU International Schools
- The British International School of Kuala Lumpur
- Garden International School
- Mont Kiara International School
- The International School @ Parkcity
- SRJK Puay Chai (2)
- SMK Taman Tun Dr Ismail
- SK Bukit Lanjan
Medical Care
- Thompson Hospital Kota Damansara
- KPJ Damansara Specialist Centre
Shopping
- IKEA Damansara
- The Curve
- IPC Shopping Centre
- Lotuss (Tesco Extra Mutiara Damansara)
- Courts Mammoth
- Damansara Perdana commercial centre
- Metropolitan Square
- 1 Utama Shopping Centre
- Strand Mall
- Sunway Giza Mall
- Decathlon Sri Damansara
Recreation
- Kidzania
- Bentley Music Academy
- KL Golf & Country Club
- Tropicana Golf and Country Resort
- Sri Selangor Golf Club
- The Club Bukit Utama
Analysis
Among the high-rise residential development in the Damansara Perdana enclave, Ritze Perdana 2 is the closest to Mutiara Damansara. Due to that, it could be preferred over its sister development, Ritze Perdana 1, which is also higher density.
According to forums, there have been reports of break-ins in both the Ritze Perdana developments. Though, it is also mentioned that the management of these projects have improved. So, it would be best to do some research and legwork before investing or renting.
In the area itself, there are several high-rise condominiums, and thus, the competition for renters could be rather stiff as they target the same potential group – young couples, singles, and students.
Some opine that there are too many high-rise residential developments in the small enclave.
Nevertheless, the developments can still pull the crowd due to its location, and the convenience that comes with it. Like most strategically located developments, traffic congestion is often an issue.
Ritze Perdana 2 is built on elevated ground, and the place can be quite windy, which is always welcomed in our tropical climate. Overall, Ritze Perdana 2, like Ritze Perdana 1, has experienced capital appreciation, and decent rental yield through the years.
The sale price of a 421 sq ft unit listed on PropertyGuru in March 2021 is from RM250,000 to RM320,000. On the other hand, rent is between RM980 and RM1,300 per month. Here’s its gross rental yield:
- Purchase price: RM270,000
- Rent out: RM1,100 per month
- Gross rental yield: About 88% per annum
Here’s a look at residential properties in Mutiara Damansara / Kota Damansara.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Ritze Perdana 2 by Usaha Hartamas (MK Land) |
Leasehold |
Condominium |
2009 |
420 sq ft – 849 sq ft
|
From RM259,000 |
|
Ritze Perdana 1 by Usaha Hartamas (MK Land) |
Leasehold |
Condominium |
2006 |
382 sq ft – 634 sq ft |
From RM96,500 |
|
Perdana View by Saujana Triangle (MK Land) |
Leasehold |
Condominium |
2004 |
736 sq ft – 2,705 sq ft |
From RM118,000 |
|
Leasehold |
Condominium |
2005 |
915 sq ft – 1,259 sq ft |
From RM160,000 |
|
|
Perdana Emerald by Saujana Triangle (MK Land) |
Leasehold |
Serviced Residence |
2005 |
875 sq ft – 1,185 sq ft
|
N/A |
|
Flora Damansara by Saujana Triangle (MK Land) |
Leasehold |
Apartment |
2005 |
646 sq ft – 1,776 sq ft
|
N/A |
|
Leasehold |
Condominium / Serviced Residence |
2014 |
Condo: Serviced Apartments: 452 sq ft – 2,702 sq ft |
From |
|
|
Freehold |
Condominium |
2015 |
1,092 sq ft – 1,705 sq ft |
From RM940,000 |
|
|
Empire City Halo Sunday by Mammoth Empire Group of Companies |
Leasehold |
Mixed commercial |
2015 |
426 sq ft – 952 sq ft |
From RM500 per sq ft |
|
Leasehold |
Serviced Apartment |
2018 |
560 sq ft – 1,100 sq ft |
About RM500 per sq ft |
Summary
MK Land Holdings is a familiar name in property development industry in Malaysia. The group was established in 1999, and they have developed Damansara Damai, Taman Bunga Raya, and Bukit Merah Laketown Resort.
As for Damansara Perdana, it consists mainly of medium-high to high-end condominuims and serviced apartments such as Ritze Perdana 1, Ritze Perdana 2, and Armanee Terrace.
There is also a commercial centre comprising mainly shop offices. The Damansara Perdana skyline has evolved to feature high-end housing projects, such as zero-lot bungalows and villas and purpose-built office buildings.
Among the later additions to the area is PJ Trade Centre, built by Tujuan Gemilang Sdn Bhd, which was helmed by executive chairman Ahmad Khalif Mustapha Kamal, who is also the CEO and executive director of Emkay Group of Companies.
If you’re interested in a 421 sq ft unit at Ritze Perdana 2 that’s priced at RM270,000, here are its estimated loan figures.
- LTV / margin of finance: 90%
- Down payment (10%): RM27,000
- Loan amount: RM243,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM1,051
- Approximate required gross annual income: RM43,000*
Want to change the loan figures? Use these calculators:
Try the FREE PropertyGuru Loan Pre-Approval tool!
To calculate your Debt Service Ratio (DSR), use our pre-approval tool. It has a 99.9% accuracy, which greatly 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. The basic rule is that banks usually loan up to 30% of your gross annual income.
Keep browsing Malaysia’s largest property site for more project reviews.
