Amidst the lush greens of Ampang Hilir (also known as the Embassy Row) enclave is resort-type condominium property, 183 Ampang. This freehold property is made up of 4 low-rise (4-storey) blocks and is situated just off Jalan Ampang, housing a total of 43 condominium units.
Completed in 2009, 183 Ampang was developed by Boustead Properties, the property arm of (you guessed it), Boustead Group. Boust-what, you ask? Well, if you insist… it’s a group of companies involved in a variety of businesses such as plantation, heavy equipment (don’t ask what), pharmaceutical and trading, to name some. Just a tidbit of trivia: As of end 2012, Boustead Properties is the Group’s second top earner next to its plantation subsidiary. 🙂 As far back as 2011, the property portfolio owned by Bousted was touted to be REIT potential (see this news coverage).
Boustead is keeping the 43 condominiums of 183 Ampang for leasing. Currently, the property is a popular home among expatriates in the area. Other residential properties from Boustead include Mutiara Damansara, Taman Mutiara Rini, and Mutiara Hills. Up its sleeve is the prestigious Mutiara 482 Cochrane which would rise on Jalan Cochrane, just a little more than four kilometers from the city centre. Besides residential properties, Boustead also invested in commercial properties such as Menara Boustead, Wisma Boustead, Menara Affin (office towers), The Curve and eCurve (shopping malls).
183 Ampang occupies arguably one of the best spots on the Embassy Row – being right behind the British High Commission. Its closest residential neighbours are Desa Angkasa and Desa U-Thant.
183 Ampang Living Convenience
Primarily, the 43 condominium units are occupied by expatriates who either work in the Ampang area (it’s the Embassy Row, after all) or in KL. Units are owned by Boustead for long-term lease – they are not for sale. Depending on the size and condition of the units (semi- or fully-furnished), rental rates for 183 Ampang range from RM5,500 to RM14,000 (or RM3.20 to RM5.20 psf). These rates are a tad higher if we compare them to rental rates for other properties in Ampang such as Lot 16, which lets for RM2.50 to RM4.30 psf and Ampang 971, which lets from RM2.00 to RM3.50 psf.
Units at 183 Ampang have built-up sizes ranging from 1,623 sqf to 2,650 sqf and are each partially furnished. Some even come with a Garden terrace or a courtyard.
Besides the round-the-clock security, other standard facilities provided to residents include swimming and wading pools, parking areas, children’s playground and gym.
Ampang Hilir is merely 3 kilometers away from the city centre, but its roads are lined with lush greens and the community is quiet. Amenities ranging from the basic to luxurious are close by. No wonder this enclave is a popular home choice among expatriates. The “Embassy Row’ moniker is the icing on the cake, and lends an air of prestige to the condominium. 🙂
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Best Bang for Your Buck?
Although 183 Ampang is on the higher range of rentals in Ampang Hilir, we still think that it gives you the best value for your money. We can’t stress enough that developer reputation means a lot to property investments; Boustead being a listed entity on the Bursa would not dare to risk sullying its reputation with substandard properties. 🙂
The rather premium location on the Embassy Row means that renters will need to fork out extra for that privilege. If you think that renting a place should not cost you so much, then you are better off looking at cheaper properties. These should be older properties, though. But if you don’t mind living in older properties, and are just after the convenience of Ampang, then the older Ampang 971 or 202 Desa Cahaya is probably your best bet.