Yet another brainchild of reputable Malaysian property developer, Sunrise, in the posh Mont Kiara enclave is Laman Suria. When we first asked around (agents and tenants) about Laman Suria, the answer was the typical “yet another Sunrise Mont Kiara condo; nothing special”. So we went onsite and did some digging… read on to find out what we, well, found out. 🙂
When we were doing our rounds of surveys for Laman Suria, we could understand why it is being passed off as yet another Mont Kiara condominium – the facade looks pretty plain although the landscaping is fabulous. The biggest selling point remains its location (being on Jalan Kiara 3 means that it’s near the heartbeat of Mont Kiara), and the prices are competitive (see the section on price analysis below).
Additionally, this freehold condominium is situated right beside Sunrise’s Sports Zone (which has a football field, basketball, futsal, handball and volleyball courts available for use by Sunrise’s residents) – so it may score points in the sports enthusiast niche. Among Laman Suria’s immediate residential neighbors are Ceriaan Kiara, Casa Kiara I, Vista Kiara, Kiara 1888 and Kiara Designer Suites. It is also a mere five-minute walk to the Garden International School – so it’s in the shortlist of families where the children go to, well, the Garden International School.
Laman Suria Price Analysis
As of the middle of 2013, asking prices for units at Laman Suria range from RM400 to RM750 psf, depending on the size and condition of the units. The range is rather broad at this moment, and this coupled with the fact that Mont Kiara properties are on a (slight) uptick in the recent months in terms of resale prices makes the market seem to be rather unpredictable.
Below is a chart depicting the trend of the asking prices for Laman Suria for the past few months –
The data is sourced from public sites using our proprietary PropertyReviews Pricing Tracker (PRPT).
The 19-storey single block tower of Laman Suria houses a total of 202 units. The units are classified into three types – standard, super deluxe and penthouse. Standard units have built-up sizes ranging from 931 to 1,178 square feet. A super deluxe unit measures 2,147 square feet, while penthouses are sized from 2,029 to 2,147 square feet. Each floor at the Laman Suria houses six units, and so the density is rather moderate.
Besides the courts at Sunrise Sports Zone, facilities available for Laman Suria residents include tennis courts, gym, kids’ playground, games room and a rooftop swimming pool. Pretty much off-the-mill facilities.
The Mont Kiara enclave is only a 15-minute drive from the city centre and may be accessed via major roads and highways – the Penchala Link, DUKE, NKVE and Sprint Highway. Mont Kiara’s linkage to these major thoroughfares makes it possible for residents to reach different areas in the country.
Laman Suria was developed by no less than Sunrise, the firm behind most of the developments in the Mont Kiara enclave. Sunrise (now known as UEM Sunrise) is a multi-awarded property development firm.
Some of their notable projects in the Mont Kiara enclave are 28 Mont Kiara, MK 11, Mont Kiara Damai and the upcoming Arcoris. It had been given the top award by The Edge Malaysia’s Top Ten Property Developers Awards from 2003 to 2006. A lot of Sunrise’s projects are given respective awards based on their characteristics. Laman Suria, for one, won third prize in the KL City Hall Landscape Awards in 2003. In 2005, it was also listed in Forbes Asia’s Best Under $1 billion companies.
Since Sunrise’s merging with UEM, there have been higher expectations although its dominance in the Mont Kiara enclave is being challenged by newcomers like Bukit Kiara Properties (BKP) as well as BCB (the developer of Concerto further up north in the Dutamas area) and BRDB (which is launching its maiden project in the area with Verdana). We shall expect more interesting launches from UEM Sunrise – Mont Kiara or elsewhere.
Laman Suria is said to be one of the most affordable properties in Mont Kiara some time ago, but recently the prices have been rather “turbulent” so many of our readers told us that they are adapting a wait-and-see attitude. Laman Suria is an older development (completed in 2004), but it still commands a premium which may be attributable to the fact that it was developed by Sunrise.
The neighbouring Ceriaan Kiara has been more steady in its prices (around RM400 PSF) and is newer as well (completed in 2009), so Laman Suria would technically command a comparable price, if not lower. Historically, Laman Suria units have transacted near or below the RM400 PSF point.
What we like about Laman Suria is that it caters to a rather “diverse” market. There are small units for bachelors (900+ sq ft) or small families and bigger units for bigger families (2,000 sq ft), and so prospective tenants and buyers are spoiled for choice. Additionally, developer reputation adds to the premium, and with Sunrise on the helm the assurance of quality is there.
Finally, it’s not a surprise that Laman Suria remains in the radar of the seasoned upmarket condominiums investor who is in the lookout for slightly older properties which give a better bang for the buck when compared to the newer launches. Indeed, there are bargains to be had, but the savviest investor will be the one who knows the “fair market value” of Laman Suria.