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
Setia Sky Residences (also known as SSR) is a freehold luxury condominium located in Kampung Baru, in the KL City Centre. The development was launched in 2008, and completed in 2011.
Setia Sky Residences is located opposite the National Library, on the intersection of Jalan Tun Razak and Jalan Raja Muda Abdul Aziz. It is just 1 km away from KLCC, about a 5-minute drive to the Kuala Lumpur city centre. One can easily access SSR via AKLEH (Ampang-Kuala Lumpur Elevated Highway).
While still boasting a location within the hustle and bustle of Kuala Lumpur, SSR is priced slightly lower as it is slightly further out, which makes it more attractive to some. Properties within the KLCC area are highly-priced because they are highly sought after due to its location, convenience, and prestige.
This condo development has a gross development value (GDV) of RM900 million. It is designed in a curved orientation, where about 70% of the units face KLCC. The remaining units will have views of the pool, or the Titiwangsa area.
The developer didn’t want a boxed-up building, which is rather conventional for high-rise condominiums. By incorporating a curved design sexy, most of the units can enjoy views of the KLCC. The developer also highlighted that Setia Sky Residences has “better” views of the Petronas Twin Towers due to its location.
Developed by SP Setia, Setia Sky Residences sits on a 5.96-acre land and it is a high-density project with 811 units in four 40-storey towers. With Setia Sky Residences, the developer is selling a lifestyle, with multiple facilities and amenities such as the Sky Deck and the 20,000 sq ft Sky Club.
The development has 3 levels of facilities spanning 120,000 sq ft. The facilities include Sky Deck and Sky Club. Sky Deck @ Level 5 comprises a 50m lap pool, wading pool, barbeque terrace, music room and an aerobic and dance room, among others. Sky Club @ Level 34 features, among the other two sky villas, an infinity pool and a cigar lounge.
The developer clinched the Best Luxury Condo Award (Malaysia) at the South East Asia Property Awards 2014 for this development. Setia Sky Residences also won the Best Luxury Condo for Central Malaysia at the Malaysian chapter of the awards, and the Special Honour Award at the Malaysia Landscape Architecture Awards 2013.
Address: Jalan Raja Muda Abdul Aziz, Off Jalan Tun Razak, 50300, Kuala Lumpur
Property Type: Serviced Residence / Condominium
Land Title: Residential
Land Area: 5.96 acres
No. of Floors: 40
Total Units: 811
Tenure: Freehold
Year of Completion: 2011
Built-up Area: 990 sq ft – 1,755 sq ft
Facilities:
Sky Deck – Level 5
- 50-meter lap pool
- Jacuzzi
- Spa garden
- Barbeque area
Sky Club – Level 34
- Infinity swimming pool
- Sauna with private Onsen baths
- Gymnasium
- Yoga area
- Deck area
- Garden
Sky Villas
- Entertainment chalets which come with dining rooms, sofas and kitchens
Launch Price: From RM700,000
Launch Price Per Sq Ft: From RM680 psf
Maintenance Fee: 55 sen psf
Awards:
- South East Asia Property Awards 2014 – Best Luxury Condo Award (Malaysia)
- South East Asia Property Awards 2014 (Malaysian chapter) – Best Luxury Condo for Central Malaysia
- Malaysia Landscape Architecture Awards 2013 – Special Honour
Project Details
Developed by SP Setia, Setia Sky Residences is a high-density project with 811 units in four 40-storey towers. The towers were named Alia, Boheme, Celeste, and Divina.
Overall, the layouts for the entire development range from 635 sq ft to 1,755 sq ft, with 6 units on each floor, and 7 lifts serve each tower.
For the first two towers that were open for sale, each block comprised 211 units with built-ups of 1,055 to 1,701 sq ft. There are only 6 units per floor and most come with a private lift lobby.
There are 6 designs to choose from, and each unit was priced from RM680 to RM930 psf. Each unit was equipped with air-conditioning, water heating units, and 2 parking bays.
There are a total of 6 studio units in each tower. Prices started from RM700,000, with a maintenance fee of 55sen psf, inclusive of sinking fund charges.
A separate 5-storey annexe houses the carpark, and on top is a 40,000 sq ft Sky Deck, with facilities including a 50m lap pool, BBQ pits, children’s playground, and courtyard gardens.
The Sky Club on Level 34 of both the first 2 towers is linked by a sky bridge, and it houses a pool, sauna, gymnasium, yoga area, and garden for relaxation, among others.
The Sky Club overlooks the KLCC, and the Sky Villas or function rooms, can accommodate up to 40 people. There is also a 4,000 sq ft Sky Port, where space can be leased for retail use.
|
Unit Types |
Built-Up |
Launch Price |
|
Celeste Tower |
||
|
Type A4 |
· 990 sq ft · 1 bedroom · 1 study |
From RM700,000 |
|
Type B4 |
· 1,335 sq ft · 2 bedrooms · 1 utility |
|
|
Type B6 |
· 1,485 sq ft · 2 bedrooms |
|
|
Type C2 |
· 1,755 sq ft · 3 bedrooms · 1 utility |
|
Location
Setia Sky Residences is located off Jalan Tun Razak in Kuala Lumpur, neighbouring The Orion condo, National Heart Institute (IJN), and National Library. The development is easily accessible via major roads and highways including Jalan Tun Razak and Jalan Raja Muda Abdul Aziz. Public transportation is also available, such as Putra KTM Station, Bank Negara KTM Station, Kuala Lumpur KTM Station and KL Sentral KTM station.
There are plenty of amenities in the area, including educational institutions such as Sekolah Kebangsaan Jalan Raja Muda, Sekolah Jenis Kebangsaan (Tamil) Jalan Fletcher, and Sekolah Menengah Kebangsaan Puteri Titiwangsa, and malls such as Avenue K Shopping Mall, The Exchange Mall, Pavilion KL, Suria KLCC and more.
Accessibility
- Jalan Tun Razak
- Jalan Raja Muda Abdul Aziz
- AKLEH (Ampang-Kuala Lumpur Elevated Highway)
- SMART Highway
- Maju Expressway (MEX)
- Setiawangsa Pantai Expressway (SPE) – Middle Ring Road 2
- MRT Line 1 (Sungai Buloh – Kajang Line)
- MRT Line 2 (Sungai Buloh – Serdang – Putrajaya)
- LRT Kelana Jaya Line
- LRT Ampang Line
- Putra KTM Station
- Bank Negara KTM Station
- Kuala Lumpur KTM Station
- KL Sentral KTM station
Education
- Sekolah Kebangsaan Jalan Raja Muda
- Sekolah Jenis Kebangsaan (Tamil) Jalan Fletcher
- Sekolah Menengah Kebangsaan Puteri Titiwangsa
- International School Kuala Lumpur
- Sayfol International School
- Taylor’s International School Kuala Lumpur
- Mutiara International Grammar School
- Eaton House International School
Medical Care
- National Heart Institute (Institut Jantung Negara)
- KL General Hospital
- Hospital Pusrawi
- Prince Court Medical Centre
- Gleneagles Kuala Lumpur
- HSC Medical Centre
- Tung Shin Chinese Hospital
Shopping
- Avenue K Shopping Mall
- The Exchange Mall
- Pavilion KL
- Suria KLCC
- Starhill Gallery
- Lot 10 Shopping Centre
- Fahrenheit 88 Mall
- Berjaya Times Square
Recreation
- National Art Gallery
- Istana Budaya
- Taman Tasik Titiwangsa
- Titiwangsa Sports Complex
- Royal Selangor Golf Club
- TRX Central Park
- KL Forest Eco Park
Analysis
Some have noted that the monorail station closest is about a 17-minute walk away. However, there’s a free in-house shuttle service to give residents a lift to and from the KLCC LRT station. The MRT line (Station #15, Kampung Baru North) is a short walk from Setia Sky Residences, which is a bonus for residents.
Being in the heart of the city, traffic congestion is to be expected. Jalan Raja Muda Abdul Aziz is usually congested because of the traffic light junction at the General Hospital and intersection to Jalan Tun Razak.
Being in a strategic location also means that there will be units that are up for short-term stays. A search shows units available for booking on travel or rental marketplace sites.
Here’s a quick look at properties in the KL City Centre.
|
Project |
Land Tenure |
Unit Type |
Completion |
Built-up |
Approximate Launch Price |
|
Setia Sky Residences by SP Setia |
Freehold |
Serviced Residence |
2011 |
990 sq ft – 1,755 sq ft |
From RM700,000 |
|
Freehold |
Serviced Residence |
2023 |
624 sq ft – 1,022 sq ft |
From RM1.44 million |
|
|
Tropicana The Residences, KLCC by Tropicana Corporation Berhad |
Freehold |
Serviced Residence
|
2018 |
710 sq ft – – 1, 604 sq ft |
From RM1.6 million |
|
Freehold |
Serviced Residence
|
2021 |
680 sq ft – 3,080 sq ft
|
From RM 1.18 million |
|
|
Freehold |
Serviced Residence
|
2020 |
705 sq ft – 1,328 sq ft
|
From RM2.3 million |
|
|
Leasehold |
Serviced Residence
|
2020 |
635 sq ft – 2,982 sq ft
|
From RM1.13 million
|
Summary
During its launch, the developer offered a 5/95 home loan package which made owning the units more affordable, where buyers had to pay a relatively small sum for the down payment of the units. Under the 5/95 scheme, a buyer makes a 5% down payment with no other cash outflow until completion. The developer bore all legal fees, stamp duty on SPA, loan agreement, and memorandum of transfer. It also serviced the interest during the construction period.
For a 1,300+ sq ft unit at Setia Sky Residences that cost RM800,000 then, a buyer would’ve paid about RM40,000 until completion of project.
A search on PropertyGuru in January 2021 shows that a fully furnished 1,300+ sq ft unit is asking for approximately RM3,300 per month for rent, while the sale price is RM970,000 upwards.
Here are some estimated loan figures for a unit priced at RM900,000.
- LTV / margin of finance: 80%
- Down payment (10%): RM180,000
- Loan amount: RM720,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM3,114
Approximate required gross annual income: RM125,000*
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.
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