The Holmes, Bandar Tun Razak

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  • 16 June 2015

Holmes Residence, Bandar Tun Razak Main Entrance

The Holmes is a reasonably priced condominium project within the flourishing township of Bandar Tun Razak in Cheras, undertaken by Aset Kayamas, a group founded in 2011 by Pahang timber tycoon Tan Sri Chai Kin Kong. The relatively new developer has made a name for themselves for simultaneously building many residential projects, either high-end or affordable housing; and completing them successfully within the time frame.

Projects under their belt include ParkHill in Bukit Jalil and The Henge in Kepong, as well as government-subsidised low-cost housing such as Perumahan Penjawat Awam 1Malaysia (PPA1M) and Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP) developments across Klang Valley.

In particular, The Holmes comprises 604 condo units. Besides having large built-up areas of 1,018 sq ft, the standard units each come with three bedrooms and two bathrooms, making them suitable as family homes. Purchasing a unit also entitles the buyer to two complementary parking spaces.

Expected to be completed by 2019, the condominium units are priced affordably from RM395,000, which works out to RM390 per sq ft (psf).

Address: Jalan Yaacob Latif, 56000 Bandar Tun Razak, Cheras, Kuala Lumpur

Property Type: Condominium

Land Title: Residential

No of Storeys: 41

No of Blocks: 1

Total Units: 604

Tenure: Leasehold

Site GPS Coordinates: 3.093571, 101.721677

Expected Date of Completion: 2019

Built-up area: 1,018 sq ft

Facilities:

–      Swimming pool

–      Multipurpose hall

–      Barbecue area

–      Wading pool

–      Playground

–      Jacuzzi

Launch Price: From RM395,000

Price psf: From RM390 per sq ft

Maintenance Fee psf: RM0.27 per sq ft

Parking Bay/s per Unit: 2

Project Details

The Holmes comprises 604 condo units. Apart from having large big built-up areas of 1,018 sq ft, every basic unit in this project comes with three bedrooms and two bathrooms, making them suitable as family homes. Each unit also comes with two complementary parking lots.

Expected to be completed by 2019, the condominium units are priced affordably from RM395,000, which works out to approximately RM390 per sq ft.

Even with the affordable price, this L-shaped condominium features a decent number of facilities. These include a playground, wading pool, BBQ area, and swimming pool. There is also Jacuzzi where you can relax and unwind after a stressful day, and a multipurpose hall for holding occasions and events.

Holmes Residence, Bandar Tun Razak Swimming Pool

Despite the small number of facilities, The Holmes is still a very enticing residential development due to three key reasons – affordability, good location and generous built-up areas.

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Location

Apart from its affordable price, the other major selling point of The Holmes is its strategic location within the flourishing township of Bandar Tun Razak in the mature district of Cheras, which is close to Malaysia’s capital. As a matter of fact, travelling from the development to the heart of Kuala Lumpur takes less than 20 minutes.

 

Apart from being 1.5km from the Bandar Tun Razak LRT station, the leasehold condominium project is well-connected to a number of major roads and highways. For example, the Maju Expressway (MEX) and the East-West Link Expressway (SALAK) are within proximity. Additionally, the nearby primary trunk road of Jalan Loke Yew enables home owners and tenants at The Holmes to travel easily to Malaysia’s capital.

 

The Holmes is also a haven for nature lovers, as Taman Tasik Permaisuri, an urban recreational park, is just opposite of it.

 

Apart from being a short walk to supermarkets such as Tesco Extra Cheras and AEON Maluri, The Holmes is also close to shopping centres like Sunway Velocity Mall, Leisure Mall and Viva Mall.

 

You also don’t have to look far to find a suitable school for your children as SMK Bandar Tun Razak, SMK Seri Mulia and SMK Desa Petaling are within a 1.15km radius. Reputable learning institutions such as SRJKC Nam Keong and SMK Cheras are close by as well.

 

For medical emergencies or routine health check-ups, residents can easily travel to Pantai Cheras Medical Centre and Universiti Kebangsaan Malaysia Medical Centre.

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Analysis

To help you decide whether a home at The Holmes is worthy of your hard-earned money, we compared it with two other large-scale residential projects in the vicinity, namely Arte Cheras and Lakeville Residences.

Name

Land Tenure

No. of Blocks

No. of Units

Selling Price

The Holmes

Leasehold

1

604

From RM395,000

Arte Cheras

Leasehold

2

1319

From RM420,000

Lakeville Residences

Leasehold

6

1866

From RM649,000

As shown in the above table, The Holmes surpasses the two rival projects in two parameters. First, the subject development has the most affordable minimum price of RM395,000. Lastly, it has the lowest number of total units, but if you divide the overall number of units by the number of blocks, it’s Lakeville Residences which leads the pack as there are only 311 units per block compared to 604 units per block for The Holmes.

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Summary

We strongly believe that The Holmes will make an excellent family home and investment property due to a troika of reasons – affordability, good location and generous unit size. As a matter of fact, apartments at the project were quickly snapped up by home buyers, as all the units were booked even before the project was officially launched. Similarly, the project’s successor The Holmes 2, which is just next to The Holmes, sold all of its 493 units when it was launched in May 2017.

However, The Holmes also has some disadvantages. For instance, it’s somewhat close to some transmission towers supporting high tension cables (HTC) and there’s a nearby cemetery. Its investment prospects could also be negatively impacted as it’s not within walking distance to public transportation as the nearest one, the Bandar Tun Razak LRT station, is about 1.5km away. The area’s density is also high given the combined number of units at The Holmes (604), The Holmes 2 (493) and an adjacent RUMAWIP project.

But the most pressing issue is the controversy over Aset Kayamas and its founder Pahang timber mogul Tan Sri Chai Kin Kong, who allegedly bribed former Federal Territories Minister Tengku Adnan. Kepong MP Lim Lip Eng also alleged that the developer is one of the largest beneficiaries from Kuala Lumpur City Hall’s (DBKL) suspicious sale of 64 land plots during the term of the previous Barisan Nasional federal government.

Nonetheless, we believe the new federal government is unlikely to stop the construction of The Holmes. In fact, the FT Ministry and DBKL allowed the construction of The Holmes 2, after Aset Kayamas promised to replace DBKL’s old football field site in Jalan Jujur where the project is now being constructed.

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Eric Wong

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