I stayed there for a few days and this is my honest review of it. If you know about this property, please add your own comment and rating at the end of the article.
- 1 Location:
- 2 Building Quality
- 3 Comfort
- 4 Management
- 5 Rooms and Prices
- 6 Investment Potential
- 7 Address
- 8 More Photos
In which neighborhood of Jakarta is the complex located?
Central Park Residences is in Podomoro City, a 25-hectare superblock belonging to Agung Podomoro Land that includes, among others, Mediterania Garden Residences 1 and 2 (MGR1 and MGR2), Royal Mediterania Garden Residences (Royal MGR), Mall Central Park, APL Office Tower, Soho Mall & Apartments, Pullman Hotel and Madison Park Apartments.
The drawing below will help you get an idea of how it looks like (some projects are missing, though):
Podomoro City itself is in Grogol Petamburan, a middle-class district of West Jakarta. It is partly residential, with a strong Indonesian Chinese community, but it is also a commercial and transportation hub due to its strategic location at the intersection of important highways (Jakarta-Tangerang and Jakarta Inner Ring Road).
By car, with normal traffic conditions, how far is the complex from:
– Jakarta Airport: 40 minutes
– Grand Indonesia Mall: 40 minutes
– Kota Tua: 60 minutes
– Kemang: 70 minutes
How does it look like around the apartments?
As you exit Central Park Residences, you will have the choice to go either to the Mall Central Park, through Sogo Department Store, or to go to Podomoro City. It takes just 3 minutes to go to Podomoro Avenue, the main street in Podomoro City with about 100 boutiques.
Podomoro City is a privately-managed area, which probably explains why it is cleaner and more pleasant than the rest of Jakarta. It is rather modern, with wide streets bordered by malls and high-rise buildings. Of course, it is not really authentic and clearly not typical of a normal Indonesian neighborhood.
Unlike in MGR1 and MGR2, there are no shops or cheap warungs on the ground floor of Central Park Residences. You can go to the mall if you need something, but it is more expensive and it is only open from 10 AM to 10 PM.
What are the important landmarks nearby?
Nearby, there are several landmarks you can go to:
Central Park Mall: It is an upper-middle-class mall, popular with young people. It has an outdoor area (called Tribeca Park) and a large number of trendy fashion shops (Sogo, Mango, Guess, Marks and Spencer, Pull & Bear, Topman, Stradivarius, H&M, etc.). Also a cinema, a supermarket, a gym, cafés, restaurants, bars, salons, banking and travel services, etc.
It is easily accessible from the ground floor of the residences:
Neo Soho: One of the newest malls in Jakarta, it is connected to Central Park by a bridge. It is not too crowded at the moment and the main attraction there is the Central department store. There is also an aquarium.
Taman Anggrek Mall: It is not part of Podomoro City but you can reach it by foot in less than 10 minutes. It is a middle-class mall as well, very busy, with an ice-skating rink on its last floor. It also has a cinema and a gym.
You can also reach a few more malls nearby in less than 10 minutes by car (for instance Ciputra Mall or Seasons City, both for low-to-middle income customers).
There is a Transmart Carrefour in Central Park Mall, a Giant Express supermarket inside MGR1 and a Hero Supermarket in Taman Anggrek Mall.
There is a lot of choice for eating out in Central Park Mall, with most of the nicer restaurants (Indonesian, Chinese, Japanese and Korean food) on the GF, around the park. Cheaper options are available in the food court and in the tunnel between Soho and Central Park. For cheap, canteen-style warungs, you will need to go to Madison Park Apartments or to Mediterania Garden Residences 1.
Bars and Nightlife:
While Podomoro City is not the best area of Jakarta for nightlife, there are enough bars to have a pleasant night out. I recommend going to Tribeca Park and to try Hog’s Breath Café, La Bière, Pizza e Birra, Bistreau or People’s Café.
There are 4 large private universities within less than 2 kilometers: Universitas Podomoro (within Podomoro City), Universitas Kristen Krida Wacana (UKRIDA), Universitas Trisakti and Universitas Tarumanegara. Note that all of these universities have a high number of Indonesian Chinese students.
A bit further, you also have Universitas Esa Unggul and BINUS (Anggrek campus).
SMAK 1 BPK Penabur, a reputed Christian high school.
SMP Negeri 69
There are some specialized hospitals nearby, such as Dharmais Hospital (Cancer), Harapan Kita (Heart Disease) or Grogol Hospital (Mental Illness). Hospital Royal Taruma is the closest one with multi-specialties. Siloam Kebon Jeruk is 4 kilometers away.
Taman Cattleya (or Taman Toman) is a free park on 3 hectares just 2 kilometers from Podomoro City. If that’s too far, you can go instead to the tiny Tribeca Park which is part of Central Park.
There are not that many office buildings in Central Park, except APL tower. If you are a young professional, this means you will probably need to go to the Sudirman area every day. On average, you will need at least 30 minutes (double if there are a lot of traffic jams).
What are the main roads or highways nearby?
On paper, the location of Central Park Residences is great. The Jakarta Inner Ring Road is within a few minutes and it circles the city. It goes to Sudirman, Rasuna Said, Gatot Subroto, Pluit, Mangga Dua, Cililitan and the Airport. The center of Jakarta (MoNas) can also be reached via Jalan Tomang Raya.
Nearby, you can catch the Jakarta – Tangerang highway, going to Puri Indah, Alam Sutera, Karawaci up until Merak.
What is the traffic situation near the apartment?
While the location of Podomoro City is strategic, its access is often difficult because of massive traffic jams near the toll gate exit and Jalan Podomoro Avenue entrance. If you go to Central Jakarta, you will also need to do a long U-turn (or make a significant detour through smaller streets in Tanjung Duren).
Naturally, the worst time is in the morning or evening, when people go to or come back from work. It is also terrible on weekends, especially Sunday afternoon. Sometimes, you’ll need 30 minutes only to exit or enter Podomoro City.
Is it easy for taxis/GrabCar to find the location?
Yes, it is a very famous location.
Is there a Transjakarta bus stop nearby?
There is a stop on Jalan Toll Letjen S. Parman, opposite Central Park Mall. You need 6-7 minutes to go there by foot (all you need to do is to cross Central Park). It is served by 8 different lines going to many important places in Jakarta (Pluit, Senayan, Karet, PGC, etc). The buses have a dedicated corridor so normally, you’ll go faster than by car.
Is there a train station nearby?
Grogol station is 2.5 kilometers away. It is a stop on the brown line from Tangerang to Duri.
How about the MRT (Mass Rapid Transit) or LRT (Light Rapid Transit)?
An LRT line is planned between Grogol-Palmerah. It is the third phase of the project and you cannot expect it to be operational before 2020. The exact location of the station is unknown at the moment.
Are there sidewalks? Is it possible to walk around?
There are decent sidewalks along Jalan Podomoro Avenue. It is not an interesting or an enjoyable walk, in my opinion.
Building and Architecture
What is the reputation of the developer?
The developer, Agung Podomoro Land, is one of the most famous in Indonesia for midrange apartments. They have a large portfolio of completed projects, many of which I’ve reviewed here already (Metro Park, Thamrin Residences, Sudirman Park, Kalibata City, etc). They own every building in Podomoro City too.
While they are generally trustworthy, you should not forget that their main target is the middle-class. They favor average quality materials in order to be competitive and offer affordable prices. Furthermore, the maintenance of some of their older properties is not adequate. I noticed some issues several times, for instance in Mediterania Gajah Mada (a review will be published soon).
Who is the architect?
The main architect of Central Park Residences was Paul Tan of the consultant firm Ark Design. It is a medium-sized local company involved in midrange and upscale projects like Casablanca Mansion, Executive Menteng Apartments, or Nusa Dua Sofitel.
Other international architects have been involved in the design of Central Park: DP Architect Singapore for the mall, DYXY from the US for the interior design, and Bennett Design, also from the US, for the landscaping.
Who is the contractor?
The contractor was Total Bangun Persada, a reputed Indonesian company that has undertaken hundreds of large projects such as Kemang Village, The Peak Sudirman, the Pakubuwono Residence, Verde I and II, etc.
What is the situation with the land certificate?
The developer has a Hak Guna Bangunan Murni, which means the property was built on its own land. As an apartment owner, you get a Strata Title di atas HGB Murni.
Design and Appearance
How does the building look like?
The three towers that form Central Park Residences are very tall and thin. I found they look elegant, with rather large glass windows and balconies.
The entrance is located behind Central Park Mall, with each tower possessing its own lobby.
Each reception is slightly different. In general, they are small but cozy. The tiles on the walls and on the floor are from marble. The sofas are comfortable and there are some plants/artworks.
The swimming pool and garden area is located just above the parking. It is a narrow space, well-maintained, with plenty of plants and flowers.
Clean, painted in yellow with a white gypsum ceiling. The floor is made of faux-marble tiles. Dim lighting.
How spacious are the apartments?
The apartments size is average, in line with the standards of a midrange property:
– 1-bedroom units range from 33m2 up to 44m2 (1 bathroom)
– 2-bedroom units range from 53m2 up to 83m2 (1 or 2 bathrooms)
– 3-bedroom units range from 100m2 up to 112m2 (2 bathrooms)
Some of the 2-bedroom and 3-bedroom units also have a maid room.
Materials, Equipment, and Finishes
What is the quality of the materials, furniture, and equipment used in the construction?
This is an evaluation of the quality I observed (ranked from 1 – worst – to 10 – best):
Tiles Lobby: 8
Tiles Corridors: 5
Tiles Apartment: 4
Gym equipment: 7
Pool equipment: 5
Overall Quality: 6/10
What is the quality of the finishes?
Good, I didn’t see too many issues.
Facilities and Services
What are the facilities provided in the property?
– Swimming pool: It is mid-sized, quite narrow but long enough to swim. I went there twice and it was always very quiet. Around the pool, there are some sunbeds for relaxing. An area is reserved for kids.
There is also a jacuzzi with non-heated water.
– Gym: New professional machines. Not too big but enough for people who just need a casual training. They have a heavy bag for Muay Thai workout.Gym Central Park Apartments
– Kids Playground:
What are the services available within the property?
There are fewer services available compared to the Mediterania Garden Residences. Still, you have an ATM, a laundry, a multi-function room, a minimarket. From 10 AM to 10 PM, you can also go to Central Park Mall.
Are there issues with the electricity supply?
None but there are restrictions for each type of room: 1-bedroom units have 2,200 VA, 2-bedroom units have 3,300 VA and 3-bedroom units have 4,400 VA.
Are their issues with parking?
How many lifts are there in each tower?
There are 4 lifts per tower, but they don’t serve every floor each. Since my apartment was on the last floor, I had to wait a few minutes each time I wanted to go up or down.
Does the apartment have running hot water?
No, hot water is made from an electric water heater
What is the air-conditioning system used?
There is no central air-cooling system so each unit has its own individual electric AC.
How busy is the property?
I don’t have any information about the rate of occupancy, but I would guess it is high. Despite this, the residences do not feel too crowded, especially compared with Mediterania Garden Residences 1 and 2.
Is it noisy?
There was a big construction project about on the North side, 400 meters from my window. It was kind of noisy but it is almost completed so I guess it will be better after that.
What is the background (ethnicity, social status) and attitude of residents?
The residents were a mix of Indonesian Chinese and Indonesian Pribumi from the upper-middle class. Most were rather young professionals, with only a few families. There are a few foreigners as well.
How old is the property?
It was completed in 2012.
Are there visible damages?
I didn’t see any serious damages. The maintenance seems to be adequate.
This is a clean property.
– Guards on duty at the gates and reception: 24/7
– CCTV cameras: Yes
– Access card: Yes, you need an access card to enter the lift area and to reach your floor.
The staff was very friendly and professional.
Rooms and Prices
Prices at Central Park Residences may vary depending on many factors such as the floor, the unit type, the room condition and the furnishings.
Be aware that you may also need to pay for additional fees: Service charge, parking fee, electricity and water bills, etc. Here are a few examples of prices and ratios for this property:
1-Bedroom Type (44m2) – Well-furnished:
- Rental 1 Year: IDR 100 million (or 8.3 million per month)
- Buy: IDR 1,900,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 19 years
- Average buying price/m2: IDR 43.18 million/m2
2-Bedroom Type (77.5m2) – Well-furnished:
- Rental 1 Year: IDR 160 million (or 13.3 million per month)
- Buy: IDR 3,000,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 18.75 years
- Average buying price/m2: IDR 38.7 million/m2
3-Bedroom Type (112m2) – Well-furnished:
- Rental 1 Year: IDR 230 million (or 19.2 million per month)
- Buy: IDR 4,500,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 19.5 years
- Average buying price/m2: IDR 40.2 million/m2
Which units are the best?
If possible, you should get a high floor as the view is really spectacular at night, especially for all units facing the city. Here are some photos that I took:
Is there a potential for a price increase in the future?
A normal price increase would be around 5% per year. Here are some of the factors that may affect this rate:
– Factors pushing the prices up:
- Development of the attractivity of Podomoro City with the building of more towers (including offices) in the next few years
- More and more Indonesians want to live close to a mall
- New SOHO mall across Central Park
- LRT line in Grogol
– Factors pushing the prices down:
- The quality of some materials is not up to the standards of an upscale property. Maintenance will have to follow up.
- No direct access to Mall Central Park
- Traffic jams around Podomoro City => Expats and rich renters will prefer locations near Jalan Sudirman if they work in the Central Business District
Overall evaluation of the price: Would I buy here?
The buying price of Central Park Residences is very high when you look at the size and the overall quality of the apartments. I guess there is a strong demand for this kind of product mainly because of the proximity to Central Park Mall.
I think it is a safe investment, but not a very profitable one. It will probably take at least 20 years before you get your money back.
Central Park Residences
Jalan S. Parman Kav. 93 – 94,
Grogol Petamburan, West Jakarta 13460, Indonesia