Taking over the reins in the mixed development property scene is Megan Ambassy, a freehold property developed by Ambassy (M) Sdn Bhd. Located on Jalan Ampang, this mixed development is an impressive one-block tower comprising of seven storeys of serviced residences, retail and offices. The retail outlets are on the ground and first floors, while the serviced suites are configured as follows:-
- Mei Suites (home offices) – 18 units
- Ambassy Suites
- California Suites – 96 units
The mixed development boasts of a 24-hour security system that is equipped with CCTV surveillance, round-the-clock. There is also a lift service to all units for its residents, as well as a covered car park that offers 520 individual parking bays.
Average listed sales prices for the Megan Ambassy in the middle of the year was estimated at around the RM750 per square feet mark. This price suffered a slight drop since, with the asking prices dropping to around the RM700 per square feet. We can’t tell if this is just a temporary blip in the uptrend of property prices in the area, but it’s always good to know the “fair market value” if you are considering of investing a unit here. To do this, use this guide. The link comes up in a new window.
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Convenience, in a Snap
Its developer has set its sights on building the property on the Embassy Rq, a thriving community that offers convenience and comfortable living. Amenities can be found around the area, and it’s easy to find convenience stores, shopping malls, food stalls, and cafes. Hospitals such as Gleneagles Intan Medical Centre and Ampang Puteri Medical Centre are also within walking distance from Megan Ambassy.
Schools within the vicinity of this mixed development include the International School of Kuala Lumpur, Malaysian Institute of Management, Sayfol International School, and the Fairview International School. Families would love their close proximity to Megan Ambassy.
Expatriates can take advantage of Megan Ambassy’s walking distance to the France Embassy, China Embassy, Royal Thai Embassy, and the British High Commission. Malls are also within short driving distances, and it’s going to be easy to go to Ampang Park and The Intermark.
Hotels surround the area, with DePalma Hotel, Flamingo Hotel, Great Eastern Mall leading the way. Other shopping malls include TESCO and Ampang Point Shopping Complex.
Taking the Star LRT will take you straight to the Ampang Park station, so commuting is not going to be a problem. Megan Ambassy is close to the station, and will only take about ten minutes by foot. Bus services and taxi stands are always available for commuters. RapidKL stops at Ampang Park, Damai, and Dato Keramat.
Residents who have private transportation can go to and from the city via the Ampang-Kuala Lumpur Elevated Highway (AKLEH) or KL Middle Ring Road, or MRR2.
Our Take on the Ambassy
If there is one thing that the Megan Ambassy can offer, that would be exclusivity. Its location alone is a tell-tale sign—Jalan Ampang KL Embassy Row is very easy to locate and is indeed, sought-after because of its convenient location and the area’s excellent amenities (and not to mention prestige). One downside in living in Ampang would be the heavy traffic congestion that builds up during peak hours. With tourists, locals, and working individuals bustling and hustling, traffic jams are most likely to happen.
Investment-wise, Megan Ambassy is located on a great location, meaning the property will be attractive for those who work near the area. Expatriates who work in the nearby embassies will benefit the most from this, as well as families who have kids who pursue their education in international schools.
We here at PropertyReviews.my have been bullish about mixed developments for some time now, and we predict that there will be a trending preference to new projects where residential properties are housed together with office and retail given the worsening of traffic jams in the city. The Megan Ambassy fits this criteria, and has got the added bonus of being in the middle of the city. The price is very competitive against other residential properties in the area, such as Gallery U-Thant, Madge Mansions, and the Katana Residences. Finally, the added prestige of being on the Embassy Row is a nice icing on top.
To come up with a “fair market price” for Megan Ambassy (which may be different from the current asking prices), use this guide below –