Menteng Park is a brand-new residential complex, in Central Jakarta, that consists of three 37-floor towers. Named Diamond, Sapphire and Emerald, each of them features apartments ranging from studios (28m2) to 3-bedroom units (72m2).
It was developed by the group Agung Sedayu, whose reputation is fairly good in the mid-to-upper segment. Some of their other properties include The Mansion @ Dukuh Kemayoran, Senayan Residence or The Mansion @ Kemang.
When I stayed in Menteng Park in December 2017, only 1 tower had been completed (Diamond) and the planned food/shopping arcade was still under construction. If everything goes according to plan, the Sapphire tower should open in March 2018 and the Emerald Tower in 2019.
For this reason, some parts of my review may be incomplete. I invite you to leave a comment below if you have more up-to-date information.
Menteng Park is in Cikini (Menteng) about 75 minutes from the airport and 15 minutes from the Hotel Indonesia Roundabout (Bunderan HI). I wouldn’t say it is in a very strategic location, but it has the advantage of being in a quiet neighborhood with a relatively easy access to the city center.
Menteng is one of the richest subdistricts in Jakarta.
As it is the seat of several Ministeries, many important government figures reside there, in massive villas lined up along some of cleanest streets you’ll see in the whole city.
Cikini, a division of Menteng, is not its best part, yet it is still rather pleasant by Jakarta standards. This is particularly true around Menteng Park, an area with an almost village-like atmosphere. Smaller streets and the absence of tall buildings make it more relaxing and authentic compared to the more modern districts in the South.
The highlight of Menteng Park’s location is the proximity with Taman Ismail Marzuki (Jakarta’s Cultural Center), where you can find a XXI cinema, a planetarium, galleries, theatres, a plaza, and a lot of good street food. If you have kids, you can use it as a sort of public park. It is literally next door as you can enter it from the rear gate on Jalan Sekolah Seni.
The river Ciliwung passes right next to the east of the residence. It is rather dirty and smelly, but who knows the government might clean it up one day. If they do, the value of the properties around would rise suddenly. Beyond the river is a local, working-class neighborhood made of modest houses.
There are decent sidewalks in the streets around Menteng Park, notably in Jalan Raden Saleh Raya and Jalan Cikini Raya. There, you can visit several shops, cafés and restaurants such as Al-Jazeera Arab Restaurant, McDonald’s, Sederhana, Camden Bar, Holland Bakery, Cheesecake Factory, etc.
Menteng Huis is also walking distance, 500 meters away. It is a small shopping center with a supermarket, an Ace Hardware, a Starbucks and more restaurants. For more serious shopping, though, you’ll need to go to Grand Indonesia about 15 minutes away.
The closest hospital is PGI Cikini, which has the particularity of being inside a mansion that belonged to the painter Raden Saleh.
The location of Menteng Park was not yet well-known by taxi drivers when I visited and it took ages for me to get there. I expect this problem to be only temporary.
The traffic in Menteng and Cikini is usually bearable. By car, you can go anywhere within that perimeter rather quickly.
The Central Business District is a bit further away, but still within reasonable reach. You can go to Jalan Rasuna Said or Jalan Sudirman in 15-20 minutes, and to Gatot Subroto in 20-30 minutes. This is quite convenient as those streets have a high concentration of offices, malls, hotels and embassies.
Going elsewhere in the city is less easy since there are no toll roads nearby. The South is far, at least 1 hour for Kemang or Pondok Indah for instance.
You can use public transportation if you don’t mind walking for at least 10 minutes. Two options:
- The train station Cikini is 800 meters away and from there you can catch the red line (Kota Tua to Bogor) or the blue line (Kota Tua to Bekasi)
- The TransJakarta halt Kramat Sentiong is 1 kilometer away and from there you can take the lines B22, 5, 5C, 5D, 5E (going directly to Ancol, Harmoni, PGC, Kampung Rambutan and Bekasi.
Design and Architecture
The towers are each independent from each other, with slight variations in the design. From the outside, they look rather basic, shaped like lean and thin cuboids. On the top, they (will) have a terrace garden. On the first floors are the parking spaces, shops and restaurants. The swimming pool and the gym are just above the parking.
Glass is used extensively, with each apartments benefiting from large windows with good views of the city. Aircon units are placed discreetly on the small balconies and not really visible from the street.
The lobby is spacious, exclusive and comfortable. It lacks a few plants, paintings and art maybe to make it look even nicer. Still, not bad for a midrange property.
Building Materials and Finishes
Materials that were used in the construction of Menteng Park are generally of good quality.
Top dollars have been spent on the lobby where marble tiles have been installed on the floor and on the walls. Quality furniture was set up including sofas, chairs, and the reception desk. I also liked the false ceiling and the lighting.
There are only 4 lifts, which may be a problem when the residence will be full. The brand is OTIS, a reputed French manufacturer. I noticed marble flooring in the elevator, which is always a nice touch.
In the corridors, the look is more simple. The marble tiles are there, but not the faux ceiling. The white paint is not particularly original as well.
The finishes were rather good. I didn’t notice significant issues like, for instance, paint drips or visible cables.
Facilities and Services
Since Menteng Park was not completed when I visited, the services and facilities were still limited. The only ones available were:
– A long swimming pool (33 x 8 x 1.6). Unfortunately, most of it is under the shade, including the sunbeds area. There is a jacuzzi as well.
– A fitness room, with plenty of professional machines and an attached spa (I didn’t get a picture so you’ll have to trust me on this one). There are also some outdoor fitness machines:
– A kid’s playground
– A jogging/walking track surrounded by a garden
In the future, there should be a food arcade with restaurants, cafés, and services like ATMs, laundry, minimarket. Also, on the last floor, they promised to open a rooftop garden with a café.
Since the tower was not yet fully occupied, the atmosphere was quiet in all public areas. I would often be alone in the lift or at the pool for instance.
All residents I saw were Indonesian, mostly “pribumi”. I guess that many of them are civil servants working in nearby ministries.
I didn’t see any issues with the maintenance yet, apart from 1 elevator that was not working for 2 days. All public areas, including the gardens, were well-maintained.
The property was very clean.
I felt safe. There were always several guards posted at the entrance gate, plus a 24-hour receptionist. To go to the lift area, one needs an access card as well. I also saw CCTV cameras inside the corridors and in many strategic locations.
The staff was professional and friendly.
Rooms and Prices
Prices at Menteng may vary depending on the floor, the unit type, the room condition and the furnishings. Be aware that you may also need to pay the service charge, the IPL (Iuran Pemeliharaan Lingkungan), the parking, the electricity, the water, etc.
On average, you will pay the following:
Studio Type (28m2) – Furnished:
- Rental 1 Year: IDR 8M per month
- Buy: IDR 1.100.000.000
- Buying Price/Gross Annual Rental: 11.14
2-Bedroom Type (48m2) – Furnished:
- Rental 1 Year: IDR 15M per month
- Buy: IDR 2.500.000.000
- Buying Price/Gross Annual Rental:13.8
3-Bedroom Type (72m2) – Furnished:
- Rental 1 Year: IDR 25M per month
- Buy: IDR 4.500.000.000
- Buying Price/Gross Annual Rental: 15
Which units are the best?
The towers of Menteng Park are actually the only skyscrapers around, meaning you can get a nice unobstructed view from almost all apartment units. Just make sure you don’t get a unit facing another tower of Menteng Park.
The units facing the South have a better view of the skyscrapers skyline.
After spending time in the Menteng Park, I would feel comfortable investing there. I believe the developer and the management are professional and they will be able to maintain the maintenance standards over the years.
A few other factors make me confident that the prices will increase:
- While the location is not as good as Kuningan, it is still convenient for many people.
- The area does not have a lot of competition when it comes to apartment complexes. Empty land is difficult to get as it is an older area of Jakarta.
- Menteng is central enough to attract tourists, meaning you may be able to do short-term rental on platforms like Airbnb.
Looking at the buying prices, the studio type seems to offer the best opportunity in terms of yield. As I calculated above, you will need about 11 years of gross rent to cover the buying price. That’s a fairly good ratio for Jakarta.
- Good location in an upscale neighborhood, close from the city center and the business district
- Long swimming pool, excellent gym, upcoming food arcade
- Good value for money considering the overall quality of the building, the location and the facilities
- The size of the apartments is rather small, in particular, the 3-bedroom units. - The swimming pool and garden area feel a bit narrow.
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