Novo Ampang is a is a RM500 million development located in the prestigious vicinity of Embassy Row along Jalan Ampang, Kuala Lumpur. Novo Ampang is developed on a 1.15 acre of freehold land. This elegant development features contemporary serviced apartments. This is a serviced apartment sitting on commercial land, therefore be aware of GST related expenses.
The development consists of residential units with built-up areas ranging from 686 square feet to 997 square feet. The developer is building 421 units spread across 38 floors with 537 basement parking lots for the convenience of residents. There are 4 design options consisting of 1 and 2 bedrooms units with 1 and 2 bathrooms respectively.
Level 1 to 7 are allocated to the podium car park facilities, whilst the residential units are situated from Level 8 to Level 37. There are also 4 floors of basement parking facilities.
A 5% discount is given to bumiputera purchasers. The developer’s selling prices range from RM1,012,800.00 to RM2,376,800.00. The maintenance fees will be in the region of RM0.40 per square feet.
The facilities include an infinity swimming pool, an invigorating jacuzzi and a private gymnasium on Level 31. Other luxuries include a sky bay, cigar lounge, audio/video lounge, WiFi, business centre, multi-purpose hall, nursery and luxury laundry room. The cigar bar is situated on Level 29 and 30.
About the Developer
Novo Ampang is developed by Alfranko Development Sdn Bhd (940160-W), a member of the Alfranko Group. Their correspondence address is B1-2-10, Solaris Dutamas, 50480, Wilayah Persekutuan K.Lumpur. This is the company’s first residential development in Malaysia according to the Ministry of Housing as of 2015. This may be construed as a good sign as the developer will strive to deliver the best in their maiden project in order to build a good reputation in Malaysia.
Novo Ampang is close to the Petronas Twin Towers also known as KLCC. There are ample shopping hot spots nearby such as The Great Eastern Mall, Ampang Park Shopping Center, The Intermark Kuala Lumpur, Suria KLCC, Avenue K and Ampang Point. For recreational purposes, the Royal Selangor Polo Club and the Titiwangsa Lake is within a few minutes away.
Top notch healthcare centers such as Gleneagles Medical Centre, Twin Towers Medical Center, Prince Court Medical Center and the National Heart Institute are also within a few minutes away of Novo Ampang.
Residents who need the services of international schools are in luck too. The Fairview International School, Sayfol International School, the International School of Kuala Lumpur, the Iraq School and the Great Jamahiriya School are in close proximity to Novo Ampang.
Distance to Amenities
Stesen Putra Lrt Jelatek (kj32)
Distance: 0.87 km
Schools / Colleges / Universities
Sayfol International School
Distance: 0.99 km
International School of Kuala Lumpur Secondary
Distance: 1.91 km
Taylor’s International School Kuala Lumpur
Distance: 2.76 km
Institut Profesional Baitulmal
Distance: 3.05 km
Kolej Poly-Tech Mara
The Nomad Sucasa All Suite Hotel
Distance: 1.14 km
Levain Boulangerie Patisserie
Distance: 2.57 km
Distance: 2.78 km
Distance: 3.03 km
Grand Hyatt Kuala Lumpur
Distance: 3.04 km
Is This a Good Location For Capital Appreciation?
It is good to look at the price performance of the condos nearby over the last few years. The price movement will give the discerning investor a good feel of the market in this area. The price appreciation / depreciation of the nearby condos are as follows:
The Elements Jalan Ampang Ulu
Median Asking Price P.S.F – Year 2014 – RM919.435
Median Asking Price P.S.F – Year 2015 – RM958.47
Appreciation per year from 2014 – 2015 – 2.12%
2 Hampshire Persiaran Hampshire
Median Asking Price P.S.F – Year 2008 – RM976.14
Median Asking Price P.S.F – Year 2015 – RM848.90
Depreciation per year from 2008 – 2015 – -1.86%
Panorama KLCC Jalan Mayang
Median Asking Price P.S.F – Year 2004 – RM226.19
Median Asking Price P.S.F – Year 2015 – RM1466.99
Appreciation per year from 2004 – 2015 – 49.86%
Setia SKY Residences Jalan Tun Razak
Median Asking Price P.S.F – Year 2013 – RM911.05
Median Asking Price P.S.F – Year 2015 – RM976.56
Appreciation per year from 2013 – 2015 – 3.59%
Ampang Putra Residency Jalan Ampang Putra 6
Median Asking Price P.S.F – Year 2010 – RM371.15
Median Asking Price P.S.F – Year 2015 – RM691.67
Appreciation per year from 2010 – 2015 – 17.27%
Hampshire Park Persiaran Hampshire
Median Asking Price P.S.F – Year 2003 – RM666.67
Median Asking Price P.S.F – Year 2015 – RM724.25
Appreciation per year from 2003 – 2015 – 0.71%
The figures speak for themselves. The geographical location in which Novo Ampang is located in is a vibrant location for capital gains as most of the condominiums in this area are enjoying good capital gains.
Size vs Price. Is Novo Ampang a Good Investment?
The factors to look at would include the estimated completion date, price and size. This development is expected to be completed at the end of 2018. Therefore, vacant possession is bound to be obtained in 2019. According to the Ministry of Housing, as of 2015, the selling price is between RM1,012,800.00 to RM2,376,800.00. The sizes offered by Novo Ampang is 686 to 997 square feet.
Under such circumstances, it is advisable to keep a close watch on the prices of Brunsfield EmbassyView Jalan Ampang (1933 square feet), The Elements Jalan Ampang Ulu (1570 square feet), 2 Hampshire Persiaran Hampshire (2356 square feet), Panorama KLCC Jalan Mayang (1798 square feet), Setia SKY Residences Jalan Tun Razak (1313 square feet), Ampang Putra Residency Jalan Ampang Putra 6 (3400 square feet) and Hampshire Park Persiaran Hampshire (3010 square feet).
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