K3 Residensi is a mid-range condominium developed by the company K3 Synergy Holdings. It is located in Section 27, within Shah Alam. All the titles are freehold and the development is expected to be completed by Q1 of 2016. It contains 2 blocks of condominiums each having 22 storeys, with a total of 288 units.
Covered car parks would take up 5 storeys and 5 elevators would service each of the buildings. Standard units come with 3 bedroom and 2 bathrooms with a total built-up for 850 sf. At the date where the property was opened for registration of interest, the units were being offered at RM385,000 (RM453 psf). On the sixth floor of K3 Residensi would contain all the facilities including a swimming pool, a wading pool and a Jacuzzi. An outdoor café and a lounge would also be made available along with a gym.
As the condominium is advertised to be mid-range, facilities would not be its major selling point. Residents with young children would be happy as there are a multitude of vernacular and non-vernacular schools nearby, both primary and secondary. The nearest hospital is the Columbia Asia Hospital in Bukit Rimau, which is 10 kilometers away. The Puchong township is within comfortable driving range where a massive range of amenities could easily be accessed. Nearby established townships offering further amenities include Subang Jaya and Section 14. Other condominiums in Shah Alam include Kemuncak Shah Alam, Mutiara Anggerik, and Studio 14.
The developers of K3 Residensi are pushing its central location as its major selling point. The area provides easy access to 7 major highways including the PLUS Highway, ELITE Highway, LDP, Federal Highway, KESAS Highway, New Pantai Expressway, and Shah Alam Highway (LKSA). Furthermore, the location is 5 minutes from the nearest upcoming LRT station which is Putra Heights.
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Analysis
At the date of launch, the developers of K3 Residensi are depending on a lot of factors that have yet to come to realisation. Comparably sized units nearby, though less equipped are selling for less than half of their launch price. As K3 Synergy Holdings are newcomers in the development scene, there isn’t any historical data for us to gauge their performance.
A new shopping complex right behind the condominium is being planned as a phase 3 launch to their development. Should this complex come to realisation there is definitely the potential that properties in the area could appreciate. The price of RM450 psf for a relatively under-developed area in hopes of appreciation once future projects come thru, is the exact package that they are offering, along with mid-range condominium facilities. Its proximity with Puchong offers access to its vast range of amenities, however one can also attribute bad traffic in the area with its proximity to Puchong and Subang Jaya.
K3 Residensi, Shah Alam
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