The KL city has seen the spurt of launches of new high-rise condominiums, and one addition to this growing list is the Maytower in the Dang Wangi area. The Maytower is a freehold serviced apartment developed by Mayland and was completed back in 2007. Its tower stands 32 storeys high, housing a total of 537 units. Out of these units, 170 units are hotel rooms, all serviced by the prestigious Dorsett. The serviced apartment is designed by CL3 Architects.
The Maytower has seen a slight increase in average unit sale prices for the last months this 2013. Listed average asking prices in the middle of the year were recorded at about RM820 square feet, and this number spiked enormously to about RM900 PSF in the recent months. This is at a premium compared to a newer place like Regalia which is still at the RM800 PSF level at the time of the publication of this review. For instructions on how to know how much a property is actually worth, download this free guide.
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The Maytower offers typical facilities and amenities for its residents. The serviced apartment has a gymnasium, a sauna, a swimming pool, and a 24-hour security system. Layouts for the units come in four. Type A is a small 351 square feet unit, while type B is measured at 439 square feet. Type C units are sized at 750 square feet, while the largest unit, Type D, is sized at 493 square feet.
Type B units at the Maytower comes with a balcony, however, its small size may pose as a problem. These units typically offer a Jalan Tunku Abdul Rahman view. In our opinion, the serviced residence’s smaller units(Type A and Type B) would be smart choices should one would consider investing on this property. These units are perfect for short-term rentals for foreigners. The Maytower’s close proximity to the textile and trading areas would be attractive for these expatriates. However, the Maytower would also prove attractive for Western expats, as its location is close to offices and business complexes.
Maytower is on Jalan Munshi Abdullah opposite Capsquare Hotel. Being in the heart of the city, residents would be able to enjoy its fast and convenient lifestyle. It would only take a short distance to get into the action and shop in lush malls, eat in fine restaurants, or dance worries away in its nearest pubs and clubs. In fact, the famous Asian Heritage Row (Jalan Doraisamy) which houses the best in nightlife is just within minutes by foot from the Maytower – about 1km away.
Malls that are located nearby include the Suria KLCC, Lot 10, and Pavilion. These malls are just within 10 minutes from the serviced apartment. Schools are also abundant in the area. Parents with growing children can consider SMK Convent Bukit Nanas and SMK St John, which are all located within driving distances from the serviced apartment.
Other shops that are located near the serviced apartment include the Semua House, Campbell complex, Pernas Sogo Complex, Mydin Wholesale Emporium, and Cityone Plaza.
Commuting would not pose as a problem as the Maytower is conveniently located near the Dang Wangi LRT station, as well as the Bandaraya LRT station. The Puduraya bus station is located ten minutes away via taxi.
Our Take on The Maytower
The Maytower is a major project by Mayland which has been known to develop premier residential properties, specifically in the Klang Valley area (Waldorf Tower, Sri Putramas, Mayfair and Dorchester in Sri Hartamas). The developer has also tackled commercial properties, including the Plaza Damas as well as the Sri Hartamas Shopping Centre. Mayland has a somewhat colored perception amongst real estate investors in Malaysia, and one could read all sorts of stories just by looking at the local property portals or via Google. We at PropertyReviews.my try to avoid as much unverified reports as possible, but as they say, when there’s smoke, there’s fire. 🙂 Developer reputation and branding is one of the biggest drivers of sub sale prices, and we know that there are buyers who look at developer name as their first “filter” of choices.
Buying a serviced apartment is an entirely different kettle of fish altogether, and if you’re going after the short let market then you’ll need to figure out what’s the best price to pay in order to optimize the rental yield. To do this, follow the guidelines inside this Malaysia property valuation guide which you can download upon entering your name and email address in the handy form below.