Seri Riana Residence, Wangsa Maju

  • Pavither
  • 27 April 2021

Seri Riana Residence is a leasehold condominium located in Wangsa Maju, Kuala Lumpur. Following the success of phase 1 in 2013, Seri Riana Residence’s phase 2 offered interested purchasers another opportunity to own a unit at a residence with scenic views of the parkland, city skyline, and Melawati Quartz Ridge.

Developed by Elegan Pesona Sdn Bhd, a joint venture between IJM Properties Sdn Bhd and MSL Properties Sdn Bhd, Seri Riana Residence is easily accessible by a multitude of highways and LRT stations.

This modern residential condominium come with facilities designed for the whole family, including landscaped parks, sports centre, children’s play zone, green lawn, infinity pool, sauna and more.

According to the developer, Seri Riana Residence is one of their finest examples of the live-play balance, offering a master-planned design with a unique view of the city, together with the fresh air and greenery of the surrounding landscape.

This modern residential condominium come with facilities designed for the whole family, including landscaped parks, sports centre, children’s play zone, green lawn, infinity pool, sauna and more.

Seri Riana Residence phase 2 has a gross development value (GDV) of RM250 million. The project was completed in 2017.

Address: Off Jalan Wangsa Perdana 1, Wangsa Maju, 53100 Kuala Lumpur

Developer: Elegan Pesona Sdn Bhd (joint venture between IJM Properties Sdn Bhd and MSL Properties Sdn Bhd)

Property Type: Condominium

Land Title: Residential

Tenure: Leasehold

No. of Blocks: 7

Total Units: 680

  • Phase 1: 396 units
  • Phase 2: 284 units

Year of Completion: 2017

Built-up Area: From 1,259 sq ft – 1,830 sq ft

Facilities:

  • Themed landscaped parks
  • Indoor badminton court
  • Indoor basketball court
  • Indoor tennis court
  • Squash court
  • Gymnasium
  • Children’s playground
  • Lap pool
  • Family pool
  • Wading pool
  • Sauna
  • Barbeque pavilions
  • Function hall

Launch Price: From RM618,000

Launch Price Per Sq Ft: From RM430 per sq ft

Awards:

  • Construction Industry Development Board (CIDB) Qlassic Excellence Award 2017 – High QLASSIC Achievement Award

Project Details

Seri Riana Residence is a high-rise residential building built on 8.1 acres in Jalan Wangsa Delima, in the suburbs of Wangsa Maju. It comprises 2 sections of 5 blocks with a total of 396 units in phase 1, and 2 blocks with a total of 284 units in phase 2.

The units’ layout either comes with 3 bedroom or 3+1 bedroom, with 2 to 4 bathrooms. Purchasers had the option to an unfurnished or semi-furnished unit. For phase 2 (Block F & G), units facing north will enjoy a mountain view, while units facing south will enjoy views of the parkland or KL skyline.

This modern residential condominium come with facilities designed for the whole family, including landscaped parks, sports centre, children’s play zone, green lawn, infinity pool, sauna and more.

For Block A & B, units facing north-east will have the Quartz Ridge view, while those facing south-west will have the KL skyline view. For Blocks C, D and E, units face the north-east, with a park view.

There is a myriad of facilities at Seri Riana Residence across 121,968 sq ft, such as indoor badminton, basketball, squash and tennis court, children’s playground, 40m lap pool, swimming pool, sauna, gymnasium, children’s pool, cycling park, barbeque area, woodland walk, and sculptural walk.

The development also has a bio stream, treehouse, swing, themed landscaped parks such as a meditative park, hammock park, camp park and meadow. There are 5 levels of car park at Block F & G (Level G, P1, P2, P3, P4 and P5).

Both phases of Seri Riana Residence received strong response upon its respective launches.

Phase 2a was sold from RM708,000, while phase 2b was sold from RM696,000. The expiry of the leasehold land tenure is April 2110. There’s also a 6:25-minute video on Seri Riana Residence posted by IJM Land on YouTube, which gives a glimpse of phase 2.

Phase 2 Blocks

Built-Up

Block A & B

Type T1

·       Built-up: 1,967 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       1 balcony

 

Type T2

·       Built-up: 1,759 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       2 balconies

 

Type T3

·       Built-up: 1,712 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       1 balcony

 

Type T4 & Type T5

·       Built-up: 1,382 sq ft

·       3 bedrooms

·       2 bathrooms

·       1 balcony

Block C, D & E

Type L1

·       Built-up: 2,156 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       1 balcony

 

Type L2

·       Built-up: 2,215 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       1 balcony

Block F

Type T7

·       Built-up: 1,582 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       1 balcony

Block G

Type T6a

·       Level 3 to 27

·       Built-up: 1,776 sq ft

·       3 bedrooms

·       1 utility room

·       4 bathrooms

·       1 balcony

 

Type T6b

·       Level 28 to 33

·       Built-up: 1,830 sq ft

·       3 bedrooms

·       3 bathrooms

·       1 balcony

Block F & G

 Type T8a & Type T8b

·       Built-up: 1,528 sq ft

·       3 bedrooms

·       2 bathrooms

·       1 balcony

 

Type T9a & Type T9b

·       Built-up: 1,259 sq ft

·       3 bedrooms

·       2 bathrooms

·       1 balcony

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Location

Seri Riana Residence is accessible via Duta-Ulu Kelang Expressway (DUKE), Middle Ring Road 2 (MRR2) and Ampang-Kuala Lumpur Elevated Highway (AKLEH). These routes take residents to the KL city centre in just about 15 minutes.

Seri Riana Residence is accessible via Duta-Ulu Kelang Expressway (DUKE), Middle Ring Road 2 (MRR2) and Ampang-Kuala Lumpur Elevated Highway (AKLEH). These routes take residents to the KL city centre in just about 15 minutes.

Thus, major tourist attractions such as Petronas Twin Towers, KLCC Park, Aquaria KLCC, KL Forest Eco Park and Suria KLCC are just a short drive away.

Newer highways could also ease traffic conditions for Wangsa Maju residents travelling to and from KL and Petaling Jaya.

These highways include Sungai Besi-Ulu Kelang Elevated Expressway (SUKE), which connects Sungai Besi to Ulu Klang, and DUKE Phase 2, which links to Sri Damansara and Jalan Tun Razak.

Seri Riana Residence is centrally situated in Wangsa Maju, and therefore there are plenty of amenities close by, such as hypermarkets, schools, medical centres, banks, eateries, and many more.

The residences are ideal for those who want a quiet personal space that’s relatively close to the capital city of Malaysia. The project is also surrounded by other major districts of Selangor such as Setapak, Gombak, and Taman Melati.

Most students living in Wangsa Maju are renting units in low-medium and medium-cost apartments, and older condos, based on their budget.

Plus, due to the area’s proximity to the city centre and the availability of LRT, the condominiums and apartments are also attractive to families and those who work in the city centre, particularly those who cannot afford to rent in more places such as Bangsar and Mont’ Kiara.

Accessibility

  • Duta-Ulu Klang Expressway (DUKE)
  • Ampang-Kuala Lumpur Elevated Highway (AKLEH)
  • Setiawangsa Pantai Expressway (SPE)
  • Middle Ring Road 2 (MRR2)
  • Jalan Ampang (via Jalan Setiawangsa and Jalan Jelatik)
  • LRT Sri Rampai (KJ4) 

Education

  • Dasein Academy of Art
  • SK Wangsa Maju Zon R10
  • SMK Seksyen 5 Wangsa Maju
  • SK Taman Seri Rampai
  • Fairview International School
  • International School Kuala Lumpur
  • Seri Utama International Primary & Secondary School
  • Sayfol International School
  • Tunku Abdul Rahman University College

Medical Care

  • Hospital Wanita Dan Kanak-Kanak Maluri
  • Gleneagles Kuala Lumpur
  • Columbia Asia Hospital – Setapak
  • KPJ Ampang Puteri Specialist Hospital
  • Hospital Pusrawi

Shopping

  • AEON BiG Wangsa Maju
  • AEON Wangsa Maju
  • Alpha Angle Shopping Centre
  • Wangsa Walk Mall
  • Melawati Mall
  • Great Eastern Mall
  • Ampang Point Shopping Centre
  • Pasar Malam Sri Rampai
  • Setapak Central Mall

Recreation

  • Kompleks Sukan Setiawangsa
  • Bukit Setiawangsa Park
  • Taman Tasik Titiwangsa
  • Kelab Darul Ehsan
  • Royal Selangor Golf Club
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Analysis

Both phases of Seri Riana Residence received a strong response upon their respective launches. For phase 2, close to 2,000 people registered for the project prior to the launch.

The developer believed that the quick take-up rate is attributed to the project’s location, which is close to public transport and amenities.

This modern residential condominium come with facilities designed for the whole family, including landscaped parks, sports centre, children’s play zone, green lawn, infinity pool, sauna and more.

The sale price of a 1,382 sq ft unit listed on PropertyGuru in April 2021 is approximately from RM700,000 to RM800,000. Meanwhile, rent is between RM2,500 and RM3,000 per month. Based on these figures, the rough gross rental yield is as below:

  • Purchase price: RM740,000
  • Rent out: RM2,700 per month
  • Gross rental yield: About 38% per annum

Here’s a look at residential properties in Wangsa Maju.

Project

Land Tenure

Property Type

Completion

Built-up

Approximate Launch Price

Seri Riana Residence (Phase 2b) by IJM Properties Sdn Bhd and MSL Properties Sdn Bhd

Leasehold

Condominium

2017

1,259 sq ft – 1,830 sq ft

From RM696,000

Villa Wangsamas by Setapak Heights Development

Freehold

Condominium

2010

1,267 sq ft – 2,562 sq ft

From RM203,888

 

Riana Green East by Elegan Pesona Sdn Bhd

Leasehold

Condominium

2012

790 sq ft – 4,625 sq ft

From RM187,800

Infiniti Residences by Setapak Heights Development

Leasehold

Condominium

2017

1,085 sq ft – 2,266 sq ft

From RM638,000

Seasons Garden Residences by SCP Group

Leasehold

Serviced Apartment

2018

770 sq ft – 900 sq ft

From RM394,200

Lexa Residence @ The Quartz by Beverly Group

Freehold

Serviced Apartment

2019

662 sq ft – 919 sq ft

 

From RM420,000

Wangsa 9 Residency (Tower A) by Mitrajaya Holdings

Freehold

Condominium

2019

1199 sq ft – 2,454 sq ft

 

From RM855,760

 

Quarza Residence @ KL East by Sime Darby Property

Freehold

Serviced Apartment

2020

651 sq ft – 865 sq ft

From RM516,888

The Hamilton by Aset Kayamas

Leasehold

Condominium

2020

1,000 sq ft – 2,200 sq ft

From RM498,000

Henna Residence by Beverly Group, MapleTree and Lai Sun

Freehold

 

Condominium

2021

From 657 sq ft

 

From RM370,000

 

Sunway Avila by Sunway Property

Freehold

Serviced Apartment

2023

732 sq ft– 1,227 sq ft

From RM430,000

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Summary

Wangsa Maju is popular among students, given its proximity to an educational institution such as Tunku Abdul Rahman University College, Malaysia Institute of Art, Dasein Academy of Art, and others.

The rental market has dipped due to the pandemic where students are either back at their hometowns with online classes, or back at their respective homes with their family.

The area is also popular with working adults, some of whom are seeking better units with cheaper rentals. Apart from that, there are also tenants looking for bigger units or newer condos to suit their needs as now they are working from home.

If you’re interested in a 1,382 sq ft unit at Seri Riana Residence that’s priced at RM740,000, here are its estimated loan figures.

  • LTV / margin of finance: 90%
  • Down payment (10%): RM74,000
  • Loan amount: RM666,000
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM2,991
  • Approximate required gross annual income: RM115,500*

Want to change the loan figures? Use these calculators:

Want to find out your Debt Service Ratio (DSR)Use the FREE PropertyGuru Loan 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. 

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Eric Wong

Pavither

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