Located on the corner of Jalan Kiara and Jalan Kiara 2, next to the Mont Kiara International School, is Mont Kiara Banyan. An upscale low-density freehold condominium by renowned Malaysian property developer, Sunrise (now known as UEM Sunrise post-merger with, well, UEM), Mont Kiara Banyan was completed in 2008. Banyan occupies a rather premium spot in Mont Kiara, and is close to the cluster of “pioneering” Mont Kiara condominiums on Jalan Kiara 1 and 2. Further down the road is MK28 and Mont Kiara Meridin.
Banyan, being a low-density property, has three blocks that house only 147 units. The property occupies a total of three acres of land. However, compared to Sunrise’s other properties, this is relatively smaller. Mont Kiara Damai, for one, has only 230 units on 8.7 acres of land.
There are five types of units to choose from with built-up sizes ranging from 1,838 to 2,648 sqf. Units at the Mont Kiara Banyan are facing one of the four views it offers – Mont Kiara International School (right), Mont Kiara Meridin (left), Mont Kiara Bayu (front) or Jalan Kiara 3 (back). The smallest units are facing Jalan Kiara 3.
If it is of any consolation, these units also have the pool view. The Balinese themed property has two contrasting roof designs – the modern one and the Balinese-inspired.
Despite its relatively smaller land location, Mont Kiara Banyan is packed with facilities that are as competitive as other Sunrise’s projects. Besides round-the clock security, residents of Mont Kiara Banyan also enjoy a recreational deck which is exquisitely designed, multi-purpose hall, mini jacuzzi, carwash area, landscaped area, carpark elevators, lounge, barbecue area and gazebo, adult and children’s swimming pool, sauna with changing rooms, tennis and badminton courts, gym and leisure dip water deck. There’s also a small number of restaurants (Wendy’s, Porto Romano) downstairs in what dubbed as the “Banyan Walk“.
Mont Kiara is one of Kuala Lumpur’s most sought-after residential enclaves. It is easily accessed through major roads and highways such as Sprint Highway, Penchala Link, North Klang Valley Expressway (NKVE) and Duta-Ulu Kelang Expressway (DUKE). The enclave is also strategically located within short distances from schools, shopping centres, hospitals, embassies, recreational clubs, cafes and restaurants.
Although it does not seem to be a concern for most residents, there is scarcity in public transport servicing Mont Kiara. One’s best bet at public transportation is a taxi. Another option would be to take a train to KL Sentral and take a bus to Hartamas. There are also regular buses to Singapore through the Odyssey service.
Mont Kiara Banyan Pricing Analysis
At the time of writing, average asking price for Mont Kiara Banyan units is at RM650 to RM700 psf, depending on level, condition and view. This comparable to some of its neighbors such as the Mont Kiara Meridin (around RM600 psf) but marginally higher than Mont Kiara Bayu, which sells at an average of RM550+ psf (asking price). Note that Bayu is a much older condominium having completed in 2002 – reviewed here previously.
The premium could be attributed to its location (proximity to the Mont Kiara International School – a major attraction to expatriate families), the reputation of its developer (see below) and its rather distinctive Balinese look. To estimate a “fair” price for Mont Kiara Banyan units, use our handy evaluation guide here.
The chart below shows the asking prices of Mont Kiara Banyan for the past few months –
The Developer’s Brand – A Major Selling Point
As any seasoned investor would tell you, having a strong developer is a selling point which impacts the property’s resale value in a huge way. Developer brand name has been a strong driver of sales at new launches; during the bull run years of Malaysia property you’ll find long lines of buyers brandishing their cheque books at the launch events of branded developers such as Sime Darby, SP Setia and UEM Sunrise.
Sunrise is credited for the Mont Kiara enclave’s founding and development, having built the lion’s portion of the condominiums here (a distant second is Asia Quest which was focused in the Kiaramas area, west of Mont Kiara). Led by Malaysia property veteran Alan Tong, this sleepy part of town (once part of Segambut) was completely transformed into an upmarket enclave as it’s known today. Indeed, Mont Kiara has flourished tremendously and, with over 4,000 upscale condominium units in its portfolio, UEM Sunrise (as it is known now) is the undisputed Big Brother among Mont Kiara developers.
Some of Sunrise’s remarkable projects are Mont Kiara Aman, Mont Kiara Damai, Mont Kiara Bayu, Mont Kiara Pines, Mont Kiara Palma, 28 Mont Kiara, 10 Mont Kiara, MK 11 and the highly anticipated mixed-development Arcoris.
Besides high-end condominiums, Sunrise is also into development of commercial centres and an international school. Sunrise had also been consistently in The Edge Malaysia’s Top Ten Property Developers Awards from 2003 to 2011, bagging the top award from 2003 to 2006.
We like Banyan Mont Kiara for its tasteful design and top-notch facilities. With pricing parity with MK28, Banyan occupies a better spot on the main artery of Jalan Kiara. Having said that, Banyan’s location may be off-putting to some – being so centrally located means that traffic jams are inevitable. However, for expatriates with children who attend the MKIS then Banyan is god-send.
Being a single block of condominiums housing close to 150 units mean that this property is only moderately dense; it’s not uncommon to find a Mont Kiara condominium being packed to the brim in order to maximize space.
Additionally, having UEM Sunrise as its developer is a strong selling point, and this alone will have a positive impact that drives future resale prices. However, due to the glut (perceived or real) of Sunrise condominiums in Mont Kiara this may not be a differentiating factor after all.
On the minus side, the Banyan sits on a smaller tract of land, and for this reason, landscaping is perhaps a little limited. However, for many potential tenants in the Mont Kiara area, landscaping and outside space seem to play second fiddle to location, and Banyan’s strategic location on the main artery of Mont Kiara may well be its biggest selling point.