Located in downtown Kuala Lumpur, KLCC is a highly-sought after area for work and stay – especially among professionals and expats. This comes as no surprise as the area is densely surrounded by commercial buildings, which are home to MNCs like Citibank and GUESS. While for leisure, there is the sprawling 20 hectares KLCC public park, the up-scale Suria KLCC shopping mall. The Petronas Twin Towers, once the tallest building in the world, is also located in the vicinity. There are also a number of international schools in the area and a hospital, Prince Court Medical Centre, which comes complete with a helipad. All these speak volumes of the profile of the people living in the area.
The KLCC area is also well-connected by major highways like AKLEH, which takes you to Ampang, and SMART highway, which takes you to Sungai Besi, etc. One can even opt for public transport via the KLCC LRT station located in the mall. However, traffic is relatively bad during peaks-hours, especially along Jalan Tun Razak.
KLCC Property Overview
Properties in the KLCC area, whether commercial or residential, is relatively expensive to the rest of Kuala Lumpur and even Malaysia. Commercial buildings in this area are Grade A and rental rates are from RM6.50 per sq ft.
(Binjai On The Park apartment at KLCC)
The same goes for residential properties in KLCC, which are mostly apartments. The average going rate for rental is RM2.60 per sq ft, while condominiums are being sold at an average price of RM1,100 per sq ft. Infact, the most expensive property price ever transacted was the two penthouses at Four Seasons Place at a whopping RM3,096 per sq ft, smashing the previous record of RM2,900 per sq ft for Binjai On The Park. The latter still holds the record for the most expensive property though, at a whopping RM38 million for the 14,300 sq ft triplex that was sold in 2010. Even the old Desa Kudalari condominiums, build by Tan & Tan Development in 1985, currently have an asking price above RM900 per sq ft (Source: KLCC Condo).