Still standing tall in the hip Bangsar vicinity is Sri Penaga Bangsar, one of the first condominiums built on the area. It is developed by property veterans Bandar Raya Developments Berhad (or perhaps better known as BRDB), whose “jewel” in the crown is The Troika — a luxury condominium in KLCC. In the Dutamas area, BRDB is currently building Verdana, which is scheduled to be completed end of 2014.
Sri Penaga is built on freehold land, and its three blocks comprise of 304 units. There are 13 unit sizes to choose from. Built-up areas range from 1,033 square feet to 2,497 square feet.
The condominium is located in along Jalan Penaga, in Bangsar, Kuala Lumpur, next to Bangsar Villa. Occupying a rather strategic spot in front of Bangsar Shopping Complex, and Sri Penaga can be accessed via the SPRINT Highway, New Pantai Expressway, the Penchala Link, and Federal Highway.
Age Ain’t Nothing But a Number…?
Sri Penaga was completed in 1996. One may think that wear and tear would slow the condominium down, but not quite. In fact, it’s quite the opposite, thanks to Azmi and Co, who did a good job on maintaining the condominium. Another good indicator why the condominium hasn’t slowed down one bit is its asking prices, which hit its peak of RM1,000 per square feet back in 2009.
Asking prices for the condominium have gradually increased throughout the years. Since Bangsar properties are heavy in demand with limited supply to match, it’s only natural to expect how properties in the vicinity will increase its asking prices to keep up with the competition. Last 2012, the condominium’s asking prices were at around the RM850+ per square feet level. In 2013, asking prices have continually increased – and its last listed sale price for the month of May breaching the RM870 per square feet level. To estimate what’s a unit at Sri Penaga’s fair market value, click here for a guide.
UPDATE: We do have records that there was a transaction in 2014 that a 1,950 sq ft unit was sold for RM1.4 million, indicating a price point at around RM720 PSF.
What to Do in Sri Penaga
Quality condominiums should always put its residents in mind. This has been the main goal of Sri Penaga ever since it was made open to the public. Giving out only the best amenities and facilities to its residents has made the condominium an early(and still a) favourite among locals and expats who would like to live in Bangsar.
A business centre is built for business meetings and conferences. For leisure, residents can partake in a game of squash on the condominium’s squash court, or spend a lazy night swim on its swimming pool. There is also a barbecue area perfect for parties, as well as a cafeteria. Aside from these, the condominium also offers a gymnasium, a salon, a launderette, a tennis court, covered parking, a mini-market, and a sauna.
24-hour security is provided to ensure residents’ safety at all times.
Things to Do in the Bangsar Vicinity
There is no shortage of facilities and amenities surrounding the expat-friendly Bangsar area. Telawi street, which is just minutes away from the condominium, is lined with cafes, bookstores, pubs, shops, and banks. Jalan Penaga is also located near the Bangsar Shopping Centre and Bangsar Village. Restaurants are plenty—one may have a hard time deciding where to eat on a busy Friday night. Dome Café, La Bodega, Grand Imperial, and Alexis are all great spots to hang out with friends.
Bangsar is a well-loved place among locals and expatriates alike, because there’s always something to do and places to go to. Owning a unit in Bangsar puts you in the middle of Kuala Lumpur’s hip and fun atmosphere, so singles who’d like to experience this would definitely love living in this condominium.
BRDB has been successful in developing premier condominiums in Malaysia, and Sri Penaga is no exception. It has, indeed, aged gracefully. With a top-notch location, facilities that offer convenience and luxury, and a great reputation to boot— we give Sri Penaga a cautious thumbs up; however, as with most aging condominiums,