The Sun, June 14, 2005
by Sujartha Kumarasamy
KUALA LUMPUR: "We're not just launching condominiums, we're launching a community here," says project manager Kon Chee Onn about YTL Land and Development Bhd's multi-billion ringgit urban renewal project in Sentul. He was referring to the completion of The Tamarind, the first residential development in the area by YTL Land & Development's subsidiary, Sentul Raya Sdn Bhd.
"The completion of The Tamarind marks a milestone for us at YTL, as it signifies the start to the realisation of our Sentul master plan - a seven-year journey that will see the revival and renewal of Sentul," says Datuk Yeoh Seok Kian, deputy managing director of YTL Corp Bhd.
According to the master plan, the 294-acre freehold land will be characterised by two halves - Sentul East (108 acres) and Sentul West (186 acres). Sentul East will be a hub for "downtown living" while the western portion, which will feature Malaysia's first private gated park, will be a haven for families.
Apart from an estimated 7,000 residential units, YTL's Sentul project will also feature commercial offices and retail outlets to be launched over a span of seven to eight years.
If responce to The Tamarind is any indication, the ambitious plan to turn over what was mainly former railway yards and quarters and older development to a modern, bustling and green enclave close to the city centre has got off to a good start.
Already, residents can enjoy good capital appreciation on their units while good rentals can also be expected, with semi-furnished units fetching around RM1,500 to RM1,800 in monthly rental, depending on the unit size and location.
Launched in July 2002, The Tamarind comprises two 31-storey tower blocks and two 4-storey low-rise blocks with 498 units in total. With built-up areas ranging from 1,079 to 1,345 sq ft, prices started from RM201,600.
According to YTL, prices for the units have appreciated as much as 45% from the original launch price, and are now transacting at an average price of RM260 psf. Spread over 3.9 acres, The Tamarind has a projected sales value of RM130 million. With 92% of the units sold, residents will begin moving in from the end of the month.
Its key features include ceiling-high windows in the master bedroom and living room and timber-strip flooring for all bedrooms. Residents will have views of the KL city skyline, including the Petronas Twin Towers, or the 35-acre Sentul Park. The private park, which is 50% complete, will be fringed by 4,000 luxury condos in Sentul West. The RM30 million KL Performing Arts Centre, which opened recently is located by its borders.
On access to Sentul Park,YTL Land & Development sales and marketing manager Judy Loo clarifies that for now, it is reserved only for residents of Sentul West. "The residents will enjoy free access to the park for the first two years. But from the third year onwards, they will have to contribute RM100 per unit, which will go towards the maintenance of the park."
However, Loo acknowledges that many residents of The Tamarind have voiced their interest in using the park as well. She says the management will consider reviewing access to the park for residents of Sentul East.
The next development in Sentul East is The Saffron, which is to be launched within the next few months. It will be built on an abandoned development next to The Tamarind. Although pricing and the number of units have yet to be finalised, it is understood that sizes of the units will range from 900 to 2,000 sq ft.
The developer will include the YTL Home Plan package in the purchase price, so each Saffron unit will come equipped with wardrobes, kitchen cabinets and air-conditioners.
YTL Land & Development is in the midst of upgrading infrastructure in Sentul to cope with the future increase in both human and motorised traffic. "There will be 50,000 people living in the neighbourhood... it will be a joke if we don't look at the infrastructUre," says Kon. Deyelopment on roads in the neighbourhood is currently underway.
Kon says accessibility to and around Sentul will be a breeze with the completion of the Sentul Link by next June. This will allow traffic flow from Jalan Mahameru at the intersection of Jalan Kuching.
Another road that will boost access to the area is the Duta-Ulu Klang Expressway that will link the northern parts of Sentul to the Sprint, Federal, North-South and Karak highways.
Residents will also have the option of using the rail link via the Sentul Timur LRT station and the Sentul KTM Komuter station. Sentul East will also see the construction of elavated walkways connecting the commercial and residential developments with the LRT and train stations.