Trinity Group Sdn Bhd will be launching Trinity Pentamont by the end of the month. The 41-storey condominium will occupy a 2.9-acre freehold parcel in Mont'Kiara, along Jalan Kiara 5.
The RM437 million development will have 330 semi-furnished units (including fully equipped kitchen cabinets and air conditioning) with built-ups of 2,057 sq ft onwards and either 4+1 bedrooms or 5+1 bedrooms. The selling price will start from RM600 psf and the maintenance fee is 41 sen psf with the developer subsidising 7 sen psf in the first year.
The name "Pentamont" is derived from "penthouse-style living in Mont'Kiara". Each unit will have a large built-up — similar to a penthouse — and the project is located in Mont'Kiara, which is a developed and affluent neighbourhood, managing director Datuk Neoh Soo Keat explains.
Trinity Pentamont boasts space, facilities and flexibility, he says. "The living and dining areas will have a combined width of 23ft. Meanwhile, it is the first property project in the Klang Valley that will come with adventure-themed facilities such as a glamping area, tree houses that overlook a 7.5m waterfall and an outdoor theatre."
Most of the units will have a dual-key concept, allowing residents to alter the purpose and function of the rooms according to their needs as their family grows, says Neoh. Each unit will be allocated three or four parking spaces.
Other facilities include a garden lounge, swimming pool, meditation deck and yoga studio.
The development is accessible via Jalan Kiara 5 and Jalan Kiara 3, and is linked to the North-South Expressway, Sprint Highway, Jalan Duta-Sungai Buloh Highway and Jalan Duta.
Within 1km of Trinity Pentamont are amenities such as Jaya Grocer, Plaza Mont'Kiara, Garden International School and Mont'Kiara International School. The Segambut KTM station is 2.8km away.
The majority of people who have booked their units are owner-occupiers. "So far, we have received some interest from foreigners, but no deals have been concluded. We prefer to market the project to locals as we believe in our local market," Neoh remarks.
He says the façade of the development took about three years to design and it is modern contemporary. The materials used,while not costly, are long lasting, easy to maintain and aesthetically pleasing, he adds.
Foundation work has begun and construction is slated to be completed in 2022.
According to Raine & Horne International Zaki + Partners Sdn Bhd executive director Lim Lian Hong, the average built-up of serviced apartments in Mont'Kiara is between 800 and 900 sq ft with an average selling price of RM950 to RM1,050 psf. For condos, the average built-up is 2,000 to 3,000 sq ft and they are being transacted at an average price of RM700 to RM800 psf. He points out that the price may vary, depending on the location and condition of a building, and the differences in each unit.
Even though there are many high-rise residential properties in Mont'Kiara, Lim says demand still exists as their price is fairly affordable and they provide good accessibility — one of the key success factors of developments.
However, the area is prone to traffic congestion and there is a lack of efficient public transport, such as light rail transit and mass rapid transit stations.
Despite that, the future prospects of Mont'Kiara are good and it will continue to thrive, Lim remarks.
Targeting a different market
According to Neoh, this is the first time that Trinity Group is building a higher-end property in an affluent neighbourhood. Although there are some who doubt the company's ability to do a good job due to its inexperience, he is confident that problems will not arise as the team has put a lot of effort into the project.
"Mid-range products are our bread and butter and we will continue in this market segment but we cannot stay there permanently," he stresses.
"We do lower-end projects as part of our corporate social responsibility. We hope to get some profits from our high-end projects as, going forward, we will need to cross-subsidise our lower-range products."
For Trinity Pentamont, the group is targeting upgraders,"migrants" and "downgraders".
Upgraders are those who have reached a certain milestone in their career and finances, hence they would like to upgrade their accommodation, says Neoh.
The migrants or "movers" are those who move from a landed property in an older neighbourhood, such as Bandar Utama or Taman Tun Dr Ismail, to a strata home or condo. The breadwinners of this group constantly need to travel for work and they would want their family to stay in a safe and secure place.
As for downgraders, they are the older generation whose children have left the nest. As they no longer need a lot of space, they may sell their landed property and move to a high-rise.
"This are our targeted markets. I foresee that many developers will target these markets in the future," says Neoh.
Trinity Group has an ongoing condo project, named Trinity Lemanja, in Kepong. The RM344 million development will have 583 units on a 2.8-acre parcel, and is slated to be completed in 2021.
An upcoming project is an industrial development named Vertitude in USJ 19, which is set to be launched in the first quarter of next year. Two residential projects, in Ampang and Serdang respectively, are in the designing stage, and Neoh says the first project to obtain an approval will be launched in the middle of next year.
"We will still focus on the Klang Valley as this is where our manpower is at. Maybe in two to three years' time, we will expand to other states. We already have a piece of land in Johor," he reveals.
Overseas,Trinity Group is in negotiations for three joint-venture projects.
Back at home, the developer is negotiating a land deal in the Klang Valley. "We are also looking at a few [pieces of land] now," says Neoh.
Meanwhile, there are plans to list the company "but we are looking at the best year, time and location for us to list", he explains.
At the moment, it is positioning itself as a boutique developer. "We want to do something that is solid and has quality, so that our buyers are happy. We don't plan to have 10 to 15 sites in one year and deliver 20,000 units. We are very particular about delivering good quality products on time to the people," Neoh remarks.