Plaza Damas 3 Hartamas

Plaza Damas 3, Sri Hartamas

Plaza Damas 3 is a freehold mixed development that consists of serviced residence and shop-office lots. Sited in front of its predecessor Plaza Damas and Hartamas Shopping Centre, it is another project by Mayland within its renowned Sri Hartamas territory.
With GDV of RM800 million, Plaza Damas 3 comprises 72 shop-office units and 1,452 service apartments that sprawl over 5.42 acres tract of land. The entire development consists of three 3-storey shop-offices (55 units) with a 5-storey service apartments block (595 units) on top of it; a 2-storey shop-office block (10 units); a 1-storey shop block; a 27-storey service apartment tower; a clubhouse and a 4-storey car park.
The service apartments at Plaza Damas 3 are to be built in phases. The first phase (a top of the 3-storey shop-offices blocks) includes Carlton, Chelsea and Cliveden, which come in six design options. There are studio, 1-bedroom and 1+1-bedroom units with built-up sizes ranging from 488 to 928 sf. Block A, B and C are built with 185, 230 and 180 units respectively. Each block is served by 3 lifts, and there is a 10,000 sf clubhouse with that houses its modern recreational facilities.
Meanwhile, the commercial lot at Plaza Damas 3 comprises of 1- to 3-storey blocks. It features wide frontage with built-up size of 26’ by 45’. It will be connected to Hartamas Shopping Centre with a pedestrian bridge.
Nestled in Sri Hartamas, there are vast array of expressways that connect the area to most parts of Klang Valley. Plaza Damas 3 can be easily accessible from Sprint Highway, DUKE Highway, NKVE, and Jalan Duta.

Property Details

• Name: Plaza Damas 3
• Address: Jalan Sri Hartamas 1, Kuala Lumpur
• Developer: Mayland
• Completion Date: March 2011
• Type: Shop-Office & Serviced Apartment
• Tenure: Freehold
• No. of Blocks: 6
• No. of Storey: 1 – 8
• No. of Units
  • Serviced Apartment: 1,452
  • Shop-Office: 72
• Land Area: 5.42 acres
• Built-up
  • Serviced Apartment: 488 – 928 sf
  • Shop-Office: 3,300 – 3,500 sf
• Launch Price
  • Serviced Apartment: From RM635 psf (RM310,100 – RM960,000)
  • Shop-Office: RM650 – RM700 psf
• Rental
  • Serviced Apartment: RM0.35 psf

Facilities

• 24-hour security
• Clubhouse
• Games room
• Spa/Steam room
• Sauna
• Jacuzzi
• 2 swimming pools
• Function room

Analysis

Even though Mayland have a pretty bad reputation, Plaza Damas 3 has attracted loads of buyers. Within mere months after it was launched, Carlton and Chelsea were already sold out, while there were still limited units available for Cliveden. However, we can still see Plaza Damas 3 advertisement in some newspapers from time to time.
The price tag for Plaza Damas 3 is indeed very hefty. Even though your investment starts from about RM400,000, its price range psf is similar to some properties in Bukit Ceylon and Mont Kiara – which are better located. Not only that, it is quite hard to gain from capital appreciation since there might be oversupply since Plaza Damas 3 will add about 1,500 small-sized serviced apartment units from the existing of 1,273 units from Waldorf Tower (600 units) and Windsor Tower (673 units). source - www.propwall.com