The OOAK Hotel Suites (Kiara 163)

As we’re living in an era where exclusiveness has been made the unique selling point of any product, The OOAK would truly be the centre of attention for property buyers due to the fact that it is definitely a “one-of-a-kind” investment. An original new lifestyle, infused within a colourful setting, nestled in the epicentre of Mont Kiara, and more specifically, Jalan Kiara, The OOAK, undoubtedly would be a worthy investment. This could be topped off with its close proximity to KLCC and major hubs of entertainment in the Klang Valley which will never leave you in boredom.

The OOAK Hotel Suites Location

Tucked within the heart of Mont Kiara, a major melting pot of modernity and entertainment, it is no doubt that The OOAK is a strategically planned developmental project. To be specific, Mont Kiara is typically dubbed as an elite location with a major part of it being flocked by foreign investors and expatriates thus, sustaining the neighbourhood’s demographic profile and lifestyle.

However, Mont Kiara, being located in the heart of Segambut, does not complement the development of properties bordering Segambut Dalam. That’s because those properties do not contain the same amount of exclusivity as those in the Mont Kiara area. This provides an uneven surrounding in the vicinity itself, with scenery and pollution being the 2 most heightened concerns of prospective buyers. This is due to the fact that there’s close proximity between the properties bordering Segambut Dalam and Mont Kiara itself.

Besides that, over congestion is a slight problem in the area of Mont Kiara for those who prefer smooth rides. This is mainly due to rapid development in the area of Mont Kiara which comprises mostly residential units. Another dilemma, which is a general problem in the vicinity of Segambut is traffic congestion. This is contributed by narrow roads, poor enforcement of the law in the area leading to illegal parkers at the side of the roads, and of course, unplanned developments in Mont Kiara itself.

For buyers who seek constant entertainment, The OOAK is a great place to have fun, day in and night out. It’s located in close proximity to a plethora of amazing amenities and malls namely, 1 Mont Kiara, Hartamas Shopping Centre, Solaris Dutamas and Publika each within a radius of 240 meters. All it takes is a short drive there. Besides that, the surrounding area is jam-packed with anything and everything possibly needed to sustain a good, healthy and fun lifestyle.

Connectivity

Similar to the other housing projects in the vicinity, The OOAK is easily connected via major expressways such as the Sprint Highway, Penchala Link, Kerinchi Link, New Klang Valley Expressway (NKVE) and the Jalan Duta-Sungai Buluh Highway too. This further reduces the struggles of buyers in commuting from one place to another, thus, improving their satisfaction. However, if you’re more of a public transport person, fret not, there’s a RapidKL bus available in the area connecting to places such as Desa Sri Hartamas, KTM Segambut, Jalan Raja Laut, Jalan Ipoh, and Jalan Tunku Abdul Rahman.

Prospective buyers would never regret investing in this property as it’s situated in the heart of Segambut with a high accessibility rate to major spots be it commercial, residential or tourism-related spots. The presence of public transportation in the area of Mont Kiara serves as a major takeaway for the residents of The OOAK. This is due to the fact that a large majority of malls and entertainment outlets in the surrounding area could be reached within a minimum duration of 15 minutes.

Most commonly, prospective buyers wouldn’t opt for private transportation and forcibly, endure the heavy traffic just to get to the desired location. Do take note, however, that the major highways and expressways connecting themselves to The OOAK would be congested especially during peak hours.

Apart from that, the presence of public transportation to and fro the area of Mont Kiara would definitely give light to residents who’re in the workforce be it white-collared jobs or blue-collared jobs. The fact that the inclusion of public transport promotes the concept of inclusivity towards people from various backgrounds is a huge plus point.

Convenience

The main takeaway for The OOAK is the fact that almost anything and everything is located at a stone’s throw away from it. Thus, this makes The OOAK a great investment not only for city-dwellers but also for families be it big or small. With major entertainment outlets and major tourist areas such as KLCC, 1 Mont Kiara, Hartamas Shopping Centre, Solaris Dutamas and Publika being at a minimum of 30 minutes away from The OOAK, rewinding and relaxing after a long day at work had never been nearer. This would come in handy for a typical night out with friends and family.

Besides that, with the existence of 163 Retail Park, a subsidiary project by the developers that houses a plethora of choices of fine dining and cafes, you’ll never go hungry again. Also, for those who are very indecisive on their next foodie getaway, you can always look around to see what suits your taste buds whilst enjoying the various outlets provided there. From this, it could be shown that the developers have a lot of emphasis on the perfect work-life balance to cater to the needs of working millennials nowadays.

Apart from the numerous entertainment outlets, which we would see no end to them, parents could worry less about the hassle of finding quality education for their children. This is due to the fact that there are prestigious schools in the vicinity such as Mont’Kiara International School and Garden International School.

Located about 10 km away from the project are the Global Doctors Hospital and Kiara Medical Centre, 2 very renowned medical centres in the Mont Kiara area. The thought process of the developer must have been to provide a wholesome experience to the residents of The OOAK. This could be proven by the inclusion of various amenities both basic and extravagant by the developers.

Shopping:

• Kuala Lumpur City Centre (KLCC)
• 1 Mont Kiara
• Hartamas Shopping Centre
• Solaris Dutamas
• 163 Retail Park
• Publika
• Atria Shopping Centre
• 1 Utama Shopping Centre
• The Gardens Mall

Education:

• Mont’Kiara International School
• Garden International School
• SK Seri Hartamas
• SMK Seri Hartamas
• French School of Kuala Lumpur
• Cempaka International School Damansara Heights

Hospitals and Medical Facilities:

• Global Doctors Hospital
• Kiara Medical Centre
• Park City Medical Centre
• KPJ Damansara Specialist Hospital
• Pantai Hospital Kuala Lumpur

The OOAK Hotel Suites Floor Plan

The OOAK consists of 2 blocks of stylishly designed freehold serviced apartments consisting of 584 units of hotel suites of 2 different types of units; typical units and dual-key units. The typical units come in 4 different types while the dual-key units come in only one type, which eventually adds up to the exclusivity it brings.

The typical units range from a built-up size of 696 square feet to 816 square feet. On the other hand, the dual-key units consist of built-up size of 1016 square feet. Spanning across 6 acres of land carefully planned and designed by the developers, The OOAK would be completed by 2022, according to YNH Property Bhd.

Since YNH Property Bhd is introducing 5 different types of units with 4 being typical units and1 being a dual-type unit, this is definitely going to make the buyers split for choice hence, adding on to the classiness that the project brings forth. Below are the square feet of the respective types:

Type B2a

Type B2b

Type B2c

Type B3

Type C1

Type C2a

Type C2b

Type C3

Type C4a

Type C4c

On a general note, an ideal unit for bachelors who have just entered the workforce or are seeking to reach greater heights in their careers would be Type A1b or Type A2b considering the fact that it provides a small but cosy space that caters to the needs of today’s millennial generation.

As for small families who would want a fresh start that provides them not only with a relaxing environment but also a healthy one, Type A1a and Type A2a should be their go-to units. As for bigger families who deserve bigger, cosier and a more enhanced style of living, Type B1 should definitely be their choice.

Apart from that, even small families who are planning to grow into a bigger family should opt for this unit. As a whole, The OOAK definitely caters to today’s ever-evolving society and its capability to cater to various walks of life make the units all the more desirable.

The OOAK Hotel Suites Facilities and Amenities

As part of their efforts to provide a one-of-a-kind living experience, the facilities and amenities in The OOAK, are specially and thoughtfully curated to cater to the needs and wants of today’s ever-changing society. As part of their unique selling point, YNH Property Bhd has provided amazing facilities such as a glass-walled gym, swimming pool and wading pool. This mostly caters to the residents who would like to unwind by having a quick run on the treadmill or to spend some time with their kids by the pool after a long day of work.

For the convenience of the residents, there’s a laundry area and a multi-storey basement carpark for both occupants and visitors hence, making this a resident-friendly project. A function room is also provided by the developers and this saves a lot of time for residents who would like to organize small get-togethers from the comforts of their own place.

The OOAK has nothing short of a beneficial security system. The OOAK is equipped with 24-hours security and CCTV monitoring topped off with the existence of an access card to enter the building. These factors make The OOAK all the more secure for the residents.

The OOAK Hotel Suites Property Analysis

The OOAK by YNH Properties Bhd., with a Gross Development Value (GDV) of RM250 million, consists of 584 units of serviced apartments ranging from 616 to 1016 square feet of built-up size. The serviced apartments are experiencing 80% of take-up rate, some of which were undergoing the sales and purchase procedures. This project, as a whole, is expected to be completed in the year 2022.

The price of a unit in The OOAK starts from RM 621,160 to RM1,029,260 and it is definitely the norm for a project in Mont Kiara to be priced as such. The main takeaway that this project entails is the fact that it is located in Mont Kiara, a location that leaves a vast majority of citizens in awe, and this leads up to a high connectivity rate to nearby entertainment hubs and major tourist areas.

If you look at the facilities and amenities provided by the developers, they are quite sufficient to cater to the basic needs of the residents despite the hefty price tag. High traffic jams exist during peak hours. Hence, the highways and expressways would potentially give the residents a major headache unless they opt for more convenient modes of transportation such as public transportation. However, such traffic congestion is something expected when living in a bustling region such as Mont Kiara.

Besides that, the oversupply of residential units in Mont Kiara stands as an issue here too. This would most probably prevent peace-loving residents from experiencing a less cluttered lifestyle due to the fact that the surrounding area mostly comprises tall skyscrapers and other residential units too. However, this does not mean that residents would have to live in pigeon-hole-like residences. The tall skyscrapers give an urban feel to living in the Mont Kiara region which is often slated as one of the high-end residential areas in Kuala Lumpur. This type of surroundings would be a potential haven for city-goers who love all the hype and bustle of a city.

Target Market

In the midst of the existence of sky-rocketing prices by similar property developers in the vicinity, it is to no doubt that The OOAK, would be at an above than average pricing. This, in turn, only accommodates buyers from the higher strata of the economy nationwide, its pricing. Therefore, this clearly depicts YNH Properties Bhd.’s target market.

Apart from that, The OOAK would also be of great appeal to working adults who would aspire for the perfect work-life balance. This could be attained through the major entertainment hubs in the region. In regards to this, the working millennials in this era would mostly opt for the smaller units due to the fact that it is financially risky for them to invest in a bigger unit, especially if they’ve just gotten to a reputable position in the workforce.

Surprisingly, another target group would most possibly exist, and that would be prospective buyers who would want to invest, specifically, in projects located in the Mont Kiara region, given, the prestige the name upholds. It is to no doubt that the area is indeed prestigious due to the fact that a majority of important projects are situated in Mont Kiara.

Competitor Analysis

The main property developers in the vicinity are YNH Properties Bhd., UEM Sunrise Bhd. and Ireka Development Management. It is to no doubt that these big companies have built their properties in a heavily developed area such as Mont Kiara, being the major hub of urbanization and modernization.

Despite all the differences that these developers and their respective projects entail, one would be very sure that the average pricing for each unit is definitely not accommodating to buyers from the lower or average strata of economy. In comparison to the projects by all 3 developers, it is quite obvious that The OOAK still wins the race especially, in terms of pricing.

Arcoris Mont’ Kiara by UEM Sunrise is made up of 366 hotel units and 275 serviced residences that are available in a wide size range typically, from 450 square feet to 2000 square feet. These are priced from RM493,800 to RM 989,500. In regards to the aspect ratio of the size of the units to the pricing, it is indeed obvious that The OOAK offers better pricing in regards to the size of its units. Despite the fact that Arcoris Mont Kiara is specially designed to meet international standards, The OOAK puts forward resident-friendly living space for the prospective buyers.

1 Mont Kiara by Ireka Development Management in hindsight is a quite expensive property despite being surrounded by other properties that offer quality residential units at more reasonable rates. 1 Mont Kiara are priced from RM 500,000 to RM1,361,280 for sale and RM1,900 to RM7,220 for rent, with units ranging from 725 square feet to 1701 square feet. Despite the higher price, the OOAk remains very competitive towards 1 Mont Kiara from its new property status and the cutting edge facilities and amenities associated with it.

The OOAK Hotel Suites’ Developer: YNH Properties Bhd.

Being one of the pioneers for unique developments both in the Klang Valley and Perak, YNH Properties Bhd. has a couple of amazing projects that received a wide response rate from their buyers and this includes major projects such as Solasta Dutamas, Menara YNH and of course, Kiara 163. This development company, which was formed in the 1970s by the late Dato’ Yu Neh Huat started off big by being the pioneer for the development of Sitiawan, Perak, then, further spreading its wings to Kuala Lumpur.

There were many challenges faced due to the fact that there were many headstrong competitors in Kuala Lumpur at that time who had a head start on development in the vicinity. YNH Properties, which has always been at the forefront of enriching the lives and the future of people, is not just another development company. Their culture of making ethical and responsible decisions for the future generation had always been their major takeaway.

Summary

This is a good investment if you are the type of buyer who cares about their surroundings and likes to live a life full of excitement. While The OOAK has a high price attached, the facilities in addition to the built up size and facilities provided more than make up for this.
The OOAK does have its fair share of pros and cons, but one may always expect good things from The OOAK, and being situated in such a prestigious location such as Mont Kiara, it is no doubt that you will have a fulfilling residential experience.