Setiabudi Residences is a luxury residential tower of 30 floors (122 meters) for a total of 300 apartment units. Located in the neighborhood of Setiabudi, in the heart of the business district, it was developed by the group JSI and completed in 2007.
I visited the property in early 2019 and this is my complete review of it:
- 1 Location:
- 2 Building Quality
- 3 Comfort
- 4 Management
- 5 Rooms and Prices
- 6 Investment Potential
- 7 Address
- 8 More Photos
- 9 My Ratings
In which neighborhood of Jakarta is Setiabudi Residences located?
Setiabudi Residences is located in Karet, Setiabudi, in a street parallel to Jalan Rasuna Said. The latter is one of the most important roads in Jakarta and it is lined with office towers, hotels, government buildings, hospitals, and embassies. It is a very strategic location for anyone working in the Golden Triangle of Jakarta as you can access most offices there in a relatively short time: Jalan Sudirman, Mega Kuningan and Jalan Thamrin are all less than 15 minutes away.
While this area of Jakarta is within the business district, it remains quite authentic as you have a low-rise, local neighborhood next to it. Personally, I find it more pleasant than the sterile atmosphere in more modern neighborhoods like Mega Kuningan, SCBD or Rasuna Epicentrum.
By car, with normal traffic conditions, how far is it from:
– Jakarta Airport (CGK): 70 minutes
– Grand Indonesia Mall: 15-20 minutes
– Sudirman Business District: 10-15 minutes
– Kota Tua: 70 minutes
– Kemang: 40 minutes
How does it look like around the apartment?
What are the important landmarks nearby?
Nearby, there are a few landmarks you can go to:
There is a small Daily FoodHall supermarket just across the street from Setiabudi Residences. You will find many imported products there but they are quite expensive.
For a wider choice and cheaper prices, you can go to Carrefour in Ambassador Mall, Farmer’s Market in Epicentrum Walk or Lotte Mart in Kuningan City.
Just across the street, you can walk 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:
You can go to Mega Kuningan, just 10 minutes away, in bars like Basque, Loewy, Bauhaus, Flow, etc.
University: STIE Perbanas, Bakrie University
Schools: Royal Primary Academy (Sekolah Royal Tunas Mulia – 10 minutes away), Highscope (from preschool to high school – in Taman Rasuna), ISEC preschool (in Epicentrum Mall).
About 10 minutes away by car, you have small parks like Taman Menteng or Taman Tangkuban Perahu. You can also walk a bit in the Rasuna Epicentrum area, for instance along the river.
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?
The closest Transjakarta station is Karet Kuningan. You can go there by foot in just 5-10 minutes. From Karet Kuningan, you can use the lines 6A, 6M, 6F, 6H and 4D, going directly to Ragunan, Dukuh Atas, Senen, Lebak Bulus, Manggarai, and TU Gas.
Is there a train station nearby?
Not really. The closest one is Sudirman station but it is 3 kilometers away. You can take the train to CGK airport from this station.
How about the MRT (Mass Rapid Transit) or LRT (Light Rapid Transit)?
In the future, an LRT station should be located at GOR Sumantri in front of Plaza Festival (10 minutes by foot from Setiabudi Residences)
Building and Architecture
Who is the developer?
Setiabudi Residences was built by PT Jakarta Setiabudi International Tbk, a large company whose main shareholders are Jan Darmadi and his family. They also own properties like the Hyatt hotels in Bali, the Mandarin Oriental in Jakarta, Mercure Ancol, the Jakarta Theater, Setiabudi One, Setiabudi Skygarden, etc.
Who is the architect and contractor?
Both the architecture and the construction were done by the group Shimizu from Japan.
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):
Setiabudi Residences consists of one L-shaped tower covered with glass windows. It looks a bit massive in my opinion to be really stylish.
The lobby is small and not really luxurious:
Landscaping and Public Areas:
There is a garden on the ground floor. Large variety of plants and trees, with a walking path of about a hundred meters.
Corridors and lifts:
They are quite narrow and simple, with small ceramic tiles on the floor. Nothing special.
How spacious are the apartments?
The apartments’ size is the following:
– 2-bedroom units = 82m2 (2 bathrooms)
– 2-bedroom units with maid room = 99m2 (2 bathrooms)
– 3-bedroom units = 142m2 (3 bathrooms)
– 3-bedroom units with maid room = 149m2 (3 bathrooms)
Here are a few pictures of units I visited:
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 the common areas:
Tiles lobby: 6
Tiles corridors: 4
Elevator (Mitsubushi): 6
Gym equipment: 8
Pool equipment: 4
In the apartments:
Bathroom equipment: 7
Kitchen equipment: 6
Overall Quality: 6/10
Facilities and Services
What are the facilities provided in the property?
– Swimming pool: It is indoor, which is quite unique in Jakarta. The area feels a bit uninviting in my opinion. The pool’s water is quite cold.
– Gym: Professional machines (Life Fitness), but a limited number of free weights.
– Playground and play room for kids:
What are the services available within the property?
There are a few services available within Setiabudi Residence: Circle K minimarket, lounge, laundry.
Are there issues with the electricity supply?
None that I know about.
Are their issues with parking?
No, each tenant gets a parking space.
Are there enough lifts?
Is the property busy?
It seems the occupancy is close to 100%, yet it doesn’t feel too crowded as there are only 300 units.
Is it noisy?
You can hear mosques from the units facing the West.
What is the background (ethnicity, social status) and attitude of residents?
Many of the residents are expatriates, and particularly from Japan.
How old is the property?
Most of the property was completed in 2007.
Are there visible damages?
Not too many.
Overall maintenance rating: 8/10
I found the property to be clean enough.
Overall cleanliness rating: 8.5/10
The garden is well-maintained.
Overall gardening rating: 8/10
– Guards: On duty at the gates 24/7
– CCTV cameras: In the lobby, in the lift and in some public areas.
– Access: You need an access card to reach the lift.
Overall security rating: 8.5/10
The staff is friendly and professional.
Overall hospitality rating: 8/10
Rooms and Prices
Prices at Setiabudi Residences 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:
2-Bedroom (99m2) – Well-furnished:
- Rental 1 Year: Approximately IDR 276 million (or 23 million per month)
- Buy: Approximately IDR 3,800,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 13.8 years
- Average buying price/m2: IDR 38.4 million/m2
- Service charge: IDR 12,000/m2
Reasons to buy:
Central location, easy to find tenants (in particular expatriates)
Reasons NOT to buy:
Lesser known property.
The property is already 12 years old.
Would I buy this property? (On a scale from 0 = “not at all” to 10 = “yes absolutely” ): 6
Jalan Setiabudi Selatan Raya No. 1,
Kuningan, South Jakarta 12920
I do my best to write honest and detailed reviews of the apartments I visit. If you disagree with my rating, please let me know why and leave your own rating at the end of this page.
- Clean and luxurious facilities/apartments
- No outdoor pool
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