It seems like Sunrise (now in its new reincarnation as “UEM Sunrise”) can’t stop developing properties that never fails to tickle everyone’s fancy. According to our agent friend Jacob (from an agency we’d rather not make), “11 Mont Kiara is a freehold condominium that exhibits class with its six-star facilities and amenities, along with a spectacular exterior to complete the package.” He’s quite a hype-y fella and we usually take his words with large pinches of Himalayan salt. But we went on a site visit and didn’t go away disappointed. Continue reading… 🙂
Having a portfolio of mega hits under its belt (MK10, MK28, and the whole cluster of “original” Mont Kiara condominiums along the main Jalan Kiara, Jalan Kiara 1 and 3), Sunrise is a proven name as far as the development of luxury condominiums is concerned. Having carved out Mont Kiara from the estates of Segambut some eons ago (driven by Alan Tong’s pioneering work), Sunrise is obviously far ahead in the curve, although Tong’s legacy is now squarely with Bukit Kiara Properties (BKP).
Imagine living in a modern setting that blends resort living with a touch of luxury – with the condominium’s five towering blocks that houses 339 units in total, MK11’s almost sure that it is a sight to behold. It looks rather futuristic, too (especially when compared to its erstwhile neighbour, MK10). We here at PropertyReviews.my are more partial to MK11 though; MK10’s angular shapes are too conventional while MK11’s curves are alluringly sexy 😉
Located at a serene (and yet central) location at the end of Jalan Kiara 1, MK11 is blessed with on-the-foot accessibility to the main artery of Mont Kiara (Jalan Kiara) where the shops and schools are at. Situated on a roundabout at the end of the road, it occupies a rather quiet spot despite being so close to the centre of Mont Kiara.
Layout and Structure
MK11 is made up of five massive blocks, all comprised of 43 storeys. Its land area spreads to almost 6.7 acres. Typical built-up areas for units start at 2,707 square feet to 6,725 square feet. It houses standard units, super-deluxe units, penthouses, and junior penthouses.
Residents are entitled to exclusivity and privacy as each storey houses only two units. There are four types of units to choose from, as follows:
- TYPE A: Units measuring 2,707 square feet
- TYPE B: Units measuring 3,169 square feet
- TYPE C: Units measuring 3,317 square feet
- TYPE D: Units measuring 3,729 square feet
Note that the units here are sized above the typical Mont Kiara units; it is aimed at housing families and also the affluent bachelor who wants ample leg space. We are somewhat skeptical of its potential in the sub sale market as units as big as these are often harder to rent out when compared to the usual 1,000+ sq ft off-the-mill Mont Kiara apartments.
Given the infamous “Mont Kiara glut” which has lasted for months (if not years), one does have to applaud UEM Sunrise for embarking on an ambitious project such as this; indeed, getting rental yield to hit the 6% cut-off can be a challenge. MK11 does occupy a certain niche on its own, and it does boast of a couple of differentiating factors that enable it to command a premium over older Mont Kiara condominiums.
MK11 Prices and Trend Analysis
It was reported that the developers needed RM800 million to develop the property, however, the condominium’s stature itself is enough to determine where those extra million ringgit went. The condominium is also the first residential property in Malaysia to be given Singapore’s prestigious Green Mark Certification – pioneering the green real estate movement that soon took over the country.
The developers made units available to the public by the end of November 2010. At that time, asking prices per square feet were steady at slightly below the “magical” RM1,000 PSF level. During its soft launch, it was reported that almost 70% of the units have been sold at a slightly-decreased soft launch price of RM700+ per square feet (a real bargain if you ask us here at PropertyReviews.my).
By the end of the first quarter of 2012, prices jumped to RM800+ per square feet. And by early 2013, the condominium bounced back and increased its prices, and currently, asking prices remain steady at RM800+ per square feet.
Below is a chart depicting the asking prices for MK11 as we have collected the data from various public sources for the past few months –
Specifications at a Glance
MK11’s architecture and design is definitely a conversation-starter with the condominium’s boat-like deck that houses a pavilion deck and a swimming pool. Underneath this deck is another swimming pool, which gives the upper deck the illusion of a big boat – you really will have to see it for yourself (it’s kinda jaw-dropping). Its landscaping is also up-a-notch too from the usual cookie-cutter style of Mont Kiara condominiums – we have never made it a secret that we preferred Ireka’s landscapes, but it’s good to see Sunrise finally upping its game.
MK11 apparently is also the condominium being recognised as the first-ever property in Mont Kiara to get certified by Green Mark. This is evident in the building’s layout. Its design is made to promote cross-ventilation in order for natural light to come through, as well as provide natural ventilation.
There is also a heat-recovery system that “recycles” air conditioning heat in order to save up on costs and energy. As we see more and more developers making “green” features a priority (see Ken Rimba), we expect the consumers to weigh this factor heavily in their buying decisions in the near future.
The table below summarizes MK11’s specifications and other vital statistics –
|Name||11 Mont Kiara|
|GoodPlace Walkability Score||72|
|Rental||RM4,550 - RM16,700|
Like many six-star condominiums, all residents are entitled to these luxurious facilities and amenities:
- Woodland gardens and a jungle walk
- Reflexology path
- Water ponds and water feature
- Badminton, squash, and tennis courts
- Tree house and children’s playgrounds
- Heated whirlpools
- Waterjet splash pools
- Three sky lounges
- Half basketball court
- A barbecue terrace
While many condominiums in the Mont Kiara area have somewhat ho-hum facilities of late, it seemed that Sunrise did not spare any expenses when it came to MK11. The amenities are more than adequate, and for this reason MK11 does seem to be pretty self-sufficient.
Sunrise (or UEM Sunrise) isn’t showing signs that it is slowing down – as 11 Mont Kiara proves. Like the many condominiums by Sunrise, MK11 looks like a worthy investment with its good location and six-star amenities and facilities. However, given the oversupply situation in Mont Kiara that doesn’t seem to go away, finding tenants may be tough (especially when given the plus sizes of the units) especially when we are already hearing about fire sales in some of the other Mont Kiara condominiums (at a lower end compared to MK10 and MK11).
Having said that, we remain fans of Sunrise’s high rises, and MK11 does seem to look like the “tour de force” of the developer with great attention to detail. If we have the dosh, we will invest in 11 Mont Kiara for our own use. I guess that says it all 😉