M3 Residence is a project that envisions a combination of serviced apartments and shopping mall, in which the former will be placed on the latter. This leasehold development is located in the hustle and bustle of Gombak, more precisely near to the LRT station of Taman Melati. The mall was expected to be ready by the end of 2013, while the apartments on the early part of 2015. However, progress has stalled and now the completion date of the apartments had been moved to the middle of 2015. MPJ, whose full name is Mega Planner Jaya, is now the current developer of the land.The two blocks of M3 Residency will be of 16-storey each. The layouts available for choosing are three in total, with Type A measuring at 1,092 sf, Type B at 925 sf and Type C at 807 sf. Type A has 4 bedrooms and 3 bathrooms while Type B and C share the same number of 3 bedrooms and 2 bathrooms. A 5-storey car park will serve the people of M3 residency, with a total of 1,167 parking bays reportedly will be available.To those future dwellers of M3 Residency, they will find the facilities of the place aplenty on the sixth floor. These facilities are the cafeteria, infinity pool with decks, picnic and barbecue areas, playground for the children, gymnasium for the fitness enthusiasts, multipurpose court and community hall, library and also surau. Jogging tracks and sauna are also thrown in into the mix.As demonstrated by a few past developments, this shopping mall and residence buildings combo of M3 Residency will avoid the hassle of shopping and buying to the tenants. Whatever they need will almost be certainly available, literally, under their feet. Other than that, the leasehold is housed in Gombak, an area where Danau Kota, Sri Rampai, Greenwood, Sri Gombak, Taman Melati, Taman Melawati, Wangsa Maju and others are located. This means basic necessities such as banks, petrol stations, police and fire stations, eateries and other needs that cannot be found in the malls, will be within driving distance. Another benefit of the location of M3 Residency is also the proximity to some established schools and colleges, like SK Setapak Indah and its secondary counterpart, SMK Gombak Setia, Tun Abdul Razak college and the globally known International Islamic University Malaysia. The nearest train station to M3 residency is around 250 to 300 metres away, namely the Taman Melati LRT station. Buses and taxis are mainstays in the area, hence they will not be hard to find. Jalan Madrasah is the road surrounding M3 Residency while the other roads nearby are Jalan Taman Melati that leads to the MRR2 and Jalan Gombak that connects to Jalan Genting Klang and DUKE.
Property Details Name: M3 Residency Address: Jalan Madrasah, 53100 Gombak, Selangor Developer: Mega Planner Jaya Completion Date: Middle 2015 (estimate) Type: Serviced Apartment Tenure: Leasehold No. of Blocks: 2 No. of Storey: 16 No. of Units: 412 No. of Bedrooms: 3 - 4 No. of Bathrooms: 2 - 3 Land Area: 3.14 acres Built-up: 807 - 1,092 sf Maintenance Fee: RM0.22 psf
Layouts Type A 4 bedrooms + 3 bathrooms (1,092 sf) Type B 3 bedrooms + 2 bathrooms (925 sf) Type C 3 bedrooms + 2 bathrooms (807 sf)
Facilities Cafeteria Jogging track Picnic area with tables Barbecue area Infinity pool Pool deck Playground Gymnasium Multipurpose court Community hall Library Surau Sauna
AnalysisSometimes, a property gains traction in attention and commercial value with only the brand that the developer brings. Some companies like Sime Darby, Gamuda, SP Setia and Mah Sing have this huge power. M3 Residency, which is being developed by Mega Planner Jaya, or else known as MPJ, is unfortunately restricted to this fantastic opportunity, due to the brand name of MPJ. Tuan Haji Zaharuddin bin Saidon, the current Chairman of MPJ, has mentioned previously that MPJ is a vehicle that was set up to bring the M3 project to life, and also mentioned that they are looking at nearby areas to be developed. It means that M3 is an early entry into their ambiguous portfolio. To add salt to injury, M3 had gone through development wreck, and has only begun to pick up its construction phase recently. Hence, it is hard to put a 100% trust to the developer. Even their web site looks to be of raw and young companies. But on the other side of the coin, MPJ is made up of experienced members of the property industry. The previously mentioned Chairman is a former CEO of TH Properties from 2008 until 2011. The director duo of Abdul Rani Achmed and Albert Chua have also served in the property industry. So, they do have the people that have the know-hows in their midst.Then there is the case of the surrounding area of the premise. Low-cost flats circle the area, blurring the line between success and failure for the shopping mall, and ultimately the serviced apartments. The small Jalan Madrasah will not be able to contain the expected traffic that will come with the development. Moreover, stalls and food vendors are aplenty, raising questions of the suitability of them and the property being so close to one another. Clearly, traffic will be a concern as the area is already dense. Besides, there is also the curious case of an oxidation pond being nearby.With that being said, the nearby schools and colleges are the attractions towards this property. Children can go to schools that are not so far, and college students looking for places to stay might be interested. The public transports that are there are also impressive. The Taman Melati LRT station is within walking distance, and buses and taxis will not be hard to come by. Jalan Taman Melati connects the place successfully to the widely used MRR2, and Jalan Gombak will take you to Jalan Genting Klang and subsequently, the city of Kuala Lumpur. DUKE highway is also accessible, opening opportunities to Jalan DUTA, Petaling Jaya, Damansara and others.