Maytower

Maytower is a hotel and serviced apartment nestled in the heart of KL city centre. It is developed by Mayland and designed by CL3 Architects Ltd. From the total of about 500 units, 170 developer units have been converted into hotel rooms, managed by Dorsett. Adding to that, some purchasers' units are also leased back to Dorsett. Residents of Maytower are pampered by lush amenities in the area. Jalan Tunku Abdul Rahman is famously known as a shopping district, as there are rows of shops and bazaars selling textiles, clothing, home decor accessories, carpets and others. Besides that, there are also Mydin Wholseale Emporium, Cityone Plaza, Semua House, Campbell Complex and Pernas Sogo Complex located within walking distance.Other prime shopping malls like Suria KLCC, Pavilion and Lot 10 are just about 10 minutes away from Maytower as well. Also, it is within close proximity to Asian Heritage Row, which houses modern pubs, clubs and restaurants. Few schools for the kids are just nearby including SMK Convent Bukit Nanas and SMK St John. In terms of accessibility, it is well connected to other parts of the city. It is just within few minutes walking to Dang Wangi LRT and Bandaraya LRT stations. In addition, it is located 10-minute driving away from Puduraya Bus Station.

Property Details

Name: Maytower

Address: Jalan Munshi Abdullah, Kuala Lumpur

Developer: Mayland

Completion Date: 1Q 2007

Tenure: Freehold

Type: Serviced Residence

No. of Blocks: 1

No. of Storeys: 32

No. of Units: 537

Built-up: 351 - 750 sf

Launch Price: From RM170,000

Subsale Price:

Rental:

Layouts

Type A - 351 sf

Type B - 439 sf

Type C - 750 sf

Type E - 493 sf

Facilities

Gymnasium

Swimming pool

Sauna

24-hour security

Market Trends

Analysis

Mayland is a big name in residential and commercial developments in Klang Valley these days. Plenty developments have been done and planned by the company, including Dorchester, Sri Putramas I, and Waldorf Tower for residential projects; and Sri Hartamas Shopping Centre and Plaza Damas for commercial projects.In terms of layout, Type B comes with a balcony and still small in size. But, it also depends on which area the unit is facing, as people would not open the balcony if it is facing the hectic Jalan Tunku Abdul Rahman. It will be great if the balcony is facing KL Tower and KLCC. Type C is more comfortable than others but as most of the tenants are single, large space is not too favorable here. Type A is the smallest one, thus making it a great profit generator for investor for rental income. Being situated in the hub of commercial and trading hub, Maytower has attracted numerous of trader expatriates from India, Pakistan, and Iran to stay for a couple of weeks or months while trading their goods in Jalan Tunku Abdul Rahman enclave. Most aggressive owners have made their fortune from renting their units for short-term period. Besides traders, Maytower is also popular to expatriates from the western countries to get close to their office.Comparing the area with other city spots, it is among the least favorable place to call home. There are overwhelming of immigrants working and staying in the area, including Bangladeshis, Nepalese and Indonesians. Thus, you will find plenty of them surrounding the area. Traffic congestion in the enclave is very bad at most times, from morning till night. The congestion is worst during peak hours. Traffic jam becomes worse during the Muslim's fasting month and school holidays. But hey, you can always commute to work by LRT or just walk to your office if your office just nearby.Comparing it with other studios in Klang Valley, Maytower price is competitive at around RM270,000. Others studio apartments like Casa Tiara, Subang Avenue, Saujana Residency, Amcorp Mall and PJ8 are currently tagged at RM250,000, RM270,000, RM290,000, RM250,000 and RM305,000 respectively. Most apartments around KLCC (which are just few kilometres away) are tagged around RM800 psf, thus there is still possibility for the price to escalate further. Investment wise, purchasing a unit in Maytower seems a very wise decision. Most owners are making hundreds ringgit of positive cash flow every month. If you are thinking to join the bandwagon, make sure that you bargain a bit to play safe so that you would not have any problem while selling it, because the price seems to be very high and quite hard to escalate further.