The Kuningan Place is a complex featuring two residential towers of 32 floors (351 units – Infinia and Ultima towers) and one office tower of 18 floors (Lumina).
Completed between 2005 and 2010, it was developed by PT. Kemuliaan Megah Perkasa which seems to be a subsidiary of the Artha Graha Group.
I stayed in this residence for a couple days and this is my full review of it.
- 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 Kuningan Place located?
Kuningan Place is located in Karet, Setiabudi, in an area that is still under development. On this satellite view, you will notice that there are currently not many buildings around the property, just empty plots of land:
Because of this, there isn’t a lot of things to do just outside The Kuningan Place.
Luckily, Rasuna Epicentrum is just 1 kilometer away. It is a large mixed-use superblock where you can find the Taman Rasuna Apartments, the Epicentrum Mall, Club Rasuna (sports facilities), Plaza Festival, Grand Rubina Business Park, restaurants, cafés, bars, etc.
The location of Kuningan Place is also rather strategic if you work in the Kuningan business district. You only need a couple of minutes to reach Jalan Rasuna Said (a famous street lined with office buildings) and less than 20 minutes to access Jalan Sudirman or Mega Kuningan.
By car, with normal traffic conditions, how far is it from:
– Jakarta Airport (CGK): 60 minutes
– Grand Indonesia Mall: 15-20 minutes
– Sudirman Business District: 20-25 minutes
– Kota Tua: 70 minutes
– Kemang: 40 minutes
How does it look like around the apartment?
For now, there isn’t much outside of the building. However, the empty plots of land will probably be replaced with buildings in the near future. You can expect the area to look very different within 10 years.
What are the important landmarks nearby?
Nearby, there are a few landmarks you can go to:
Epicentrum Walk (5 minutes by car): A modern shopping center, quite small, with some affordable restaurants (Asian food), a bar, a well-stocked supermarket (Farmer’s Market), and an XXI cinema.
Plaza Festival (7 minutes by car): A middle-class mall with a variety of cheap shops, a Matahari department store, cafés and restaurants (including fast food like McDonald’s, A&W, Pizza Hut).
Farmer’s Market in Epicentrum Walk
The closest restaurants are located within Epicentrum Walk and Pasar Festival. Most serve Indonesian food, for a decent price (around IDR80,000 for a meal). For Western food, I like Aphrodite, Liquid Exchange or the upscale Bluegrass (on the ground floor of Bakrie tower). 2 minutes from it, you can also try the restaurants of the Grand Rubina Business Park such as Trattoria (Italian), Saigon Café (Vietnamese) and Carl’s Jr (Burgers).
A bit further away (10 minutes), you can go to Setiabudi One. It is a food court with a large variety of restaurants and coffee shops: Gula Merah, Dapur Sunda, Burger King, Starbucks, Duck King, etc.
Bars and Nightlife:
Two expat bars are located nearby: Aphrodite (sports and billiard) and Liquid Exchange (sports). Both are quite popular and they belong to the same owner.
Another option, more sophisticated, is the trendy Bluegrass that specializes in steaks and grilled meat.
ISEC preschool in Epicentrum Mall.
About 10 minutes away by car, you have small parks like Taman Menteng or Taman Tangkuban Perahu.
Many office towers are nearby: Bakrie, Cyber 2, Menara Karya, etc.
Many within easy reach: Australia, Saudi Arabia, Singapore, India, Holland, India, UK, Russia, Ukraine, Greece, Belarus, Hungary, etc.
Is there a Transjakarta bus stop nearby?
None is very near. The closest one is Kuningan Madya about 10 minutes away by foot. From there, you have direct lines to Ragunan, Dukuh Atas, Senen, Lebak Bulus, Manggarai, and TU Gas.
Is there a train station nearby?
Not really. The closest ones are Manggarai and Sudirman but they are several kilometers away.
How about the MRT (Mass Rapid Transit) or LRT (Light Rapid Transit)?
An LRT station should be located at GOR Sumantri in front of Plaza Festival.
Building and Architecture
What is the reputation of the developer?
The Kuningan Place was developed by PT. Kemuliaan Megah Perkasa, probably a subsidiary of Artha Graha Group. The latter is a conglomerate involved in several industries from hospitality to banking.
Their property business is focused around SCBD, a superblock that they own. In particular, they built The Capital Residences, District 8, Residence 8, Kusuma Chandra, SCBD Suites, Alila SCBD and Pacific Place.
Regarding The Kuningan Place, there was a controversy about the sale of 2 floors. I invite you to read this article to know more about it.
Who is the architect?
Denton Corker Marshall, an Australian firm, was the architect on this project. They designed hundreds of buildings around the world, including (in Indonesia) the Alila Solo and the Australian Embassy in Jakarta.
Who is the contractor?
The contractor was Multikon, a company with a large portfolio of completed buildings (Providence Park Jakarta, Summarecon Mall Bekasi, Ciputra World 2, 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?
From Outside (Facade):
Personally, I’m not a fan of the building, though I like the fact that they tried to do something different.
The lobby is spacious and rather prestigious with a fountain, some artwork and comfortable sofas.
Landscaping and Public Areas:
The garden is medium-sized, nestled in a courtyard surrounded by the three towers. Even though it is limited in space, it looks nice enough.
Corridors and lifts:
How spacious are the apartments?
The apartments’ size is the following:
– 1-bedroom units = Around 40m2
– 2-bedroom units = Around 70m2 (2 bathrooms)
– 2-bedroom units = Around 83m2 to 200m2 (2 bathrooms)
The larger units have a maid room.
Materials and Equipment
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):
In common areas:
Tiles lobby: 7
Building and wall paint: 7
Lighting fixtures: 6
Gym equipment: 8
Pool equipment: 7
In the apartments:
Bathroom equipment: 6
Kitchen equipment: 6
Quality of construction/finishes: 6
Overall Quality: 6.5/10
Facilities and Services
What are the facilities provided in the property?
– Swimming pool: The size is quite generous, occupying most of the garden. It is long enough to swim. The water is cold, though, as there isn’t much sunshine that hits the water.
– Gym: A surprisingly good gym with plenty fo equipment, including free weights.
What are the services available within the property?
There are several useful services such as a laundry, a convenience store, a restaurant (The Nest) and an ATM.
Are there issues with the electricity supply?
None that I know about.
Are their issues with parking?
None that I know about.
Are there enough lifts?
Is the property busy?
It was reasonable. The pool and the gym always had some people, but it was not overwhelming or disturbing.
Is it noisy?
I didn’t think it was. No mosques or large road around.
What is the background (ethnicity, social status) and attitude of residents?
The residents were mostly Indonesians, with a few Indonesian-Chinese and expats.
How old is the property?
The property was completed in 2010.
Are there visible damages?
Yes there are a few, but it is still acceptable:
Overall maintenance rating: 7/10
I found the property to be clean.
Overall cleanliness rating: 7.5/10
The garden is well-maintained.
Overall gardening rating: 7/10
– Guards: On duty at the gates and reception: 24/7
– CCTV cameras: In the lobby and the lift
– Access: You need an access card to enter the lift area and to reach your floor
Overall security rating: 8/10
The staff is friendly and professional.
Overall hospitality rating: 8/10
Rooms and Prices
Prices at Kuningan Place may vary depending on many factors such as the floor, the unit type, the room condition and the furnishings. Some units also have a private lift.
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:
3-Bedroom (78m2) – Well-furnished:
- Rental 1 Year: Approximately IDR 192 million (or 16 million per month)
- Buy: Approximately IDR 2,700,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 14 years
- Average buying price/m2: IDR 34.6 million/m2
Service charge: IDR 15,000/m2/month = IDR 1,170,000 for 78m2/month. It is normally paid by the owner.
Here are some of the factors that may affect the buying price of this property:
– Factors pushing the prices up:
- Improvement of the surrounding area, ideally with the construction of new office towers, shops, etc
– Factors pushing the prices down:
- The empty plots of land can be developed into new residential towers that will compete with the Kuningan Place
Overall evaluation of the price: Would I buy here?
The buying price is too high compared with the competition. The cost of the meter square in Verde, which is much more luxurious, is almost the same for instance.
Kuningan Place Aparments
Jalan Kuningan Utama Lot No.15,
Menteng Atas, Setiabudi,
South Jakarta 12430, Indonesia
The Kuningan Place