fX Residence is an upscale residential tower of 45 floors, for a total of 227 units. Completed in 2006, it was developed above the mall fX Sudirman by the group PT. Plaza Indonesia Realty, the owner of Plaza Indonesia. The hotel Harris fX is located in the same building.

Note: From 2006 to 2008, fX Sudirman was called Sudirman Place and fX Residence was known as The Pinnacle. For several years, it was the highest residential tower in Jakarta (213 meters).

I visited this property with an agent, and this is my complete review of it:

Location:

Neighborhood

In which neighborhood of Jakarta is fX Residence located?

Location of fX Residence in Jakarta

fX Residence is located in the district of Tanah Abang, on Jalan Sudirman. This street is the most important thoroughfare of Jakarta, linking the north and the south of the city, and home to dozens of skyscrapers (mostly offices). If you work in the business district, this is one of the best location in the city.

fX Residence is also close to Senayan, an affluent area with two large malls, Plaza Senayan and Senayan City. It is a modern part of the city, with mostly new buildings and a cleaner environment.

By car, with normal traffic conditions, how far is it from:
– Jakarta Airport (CGK): 55 minutes
– Grand Indonesia Mall: 20 minutes
– Sudirman Business District: 1 minute
– Kota Tua: 50 minutes
– Kemang: 35 minutes

How does it look like around the apartment?
The surroundings of fX residence are not particularly pleasant, except on its northern side from where you can reach Bung Karno Stadium and City Park.

Elsewhere, you have large and busy roads, as you can see on these pictures:

Street view of fX Residence

Surroundings of fX Sudirman

Surroundings of fX Sudirman

Behind fX Sudirman

What are the important landmarks nearby?

Nearby, there are a few landmarks you can go to:

Malls:
fX Sudirman, just below fX residence, is a lifestyle mall with mostly middle-range restaurants and cafés. There is also a cinema, a gym, salons, spas, banks, and a few retail shops. It is convenient but maybe not as interesting as a real mall.

Plaza Senayan is about 5-10 minutes away by car. It is one of the best malls in Jakarta, with a mix of high-end boutiques and some more affordable brands. It is also great for dining and going out (cinema, bars, cafes, etc).

Another good option is Senayan City (upper-middle class mall), also 10 minutes away by car.

Supermarkets:
There is a small supermarket inside fX Sudirman (Daily FoodHall). For more choice, you can go to FoodHall in Senayan City or in Plaza Senayan.

Restaurants:
There are plenty of restaurants around, in fX Sudirman, Plaza Senayan, Senayan City or Senayan Arcadia, from mid-range to expensive.

Bars and Nightlife:
Union bar in Plaza Senayan is popular. You can also check the venues in the Crystal Lagoon in Senayan City. Otherwise, the neighborhoods of Senopati, Mega Kuningan and SCBD (10 minutes by car) are the current hotspots of Jakarta nightlife.

Note: There is a prostitute bar in fX Sudirman called De Leila. It is popular with Arabs (Saudis, Emiratis).

Education
– Universities: Binus (inside fX Sudirman), Pertamina, Moestopo, Al-Azhar, Atma Jaya Semanggi
– Schools: Jakarta Intercultural School (Pattimura campus for elementary), SMA Al-Azhar, Hope International School, Heritage School
– Preschool: Lollikids Montessori, Mighty Minds

Hospitals and clinics:
Siloam Semanggi
Kaikoukai Clinic Senayan (Japanese)
SOS Medika Clinic (expensive – international quality)

Offices:
Plenty of offices nearby on Jalan Sudirman: Bursa Efek Indonesia, Sentral Senayan, Pacific Place, District 8, etc.

Public transport:
– Transjakarta: Summitmas or Gelora Bung Karno 2 (500 meters away)
– MRT: Senayan (500 meters away)
– Train: None nearby

Parks and golf courses:
Bung Karno Stadium Park (5 minutes)
Senayan Golf Course (10 minutes)

Building Quality

Building and Architecture

Who is the developer?
fX Residence was developed by the group PT. Plaza Indonesia Realty, a company with various shareholders, most of whom have ties to Soeharto: The Widjaja family (Sinar Mas Group), the Gozali family (Gajah Tunggal and MAP), the Tachril family (Global Mediacom), DBS group (bought the share from Hary Tanoesoedibjo), Drs Sutanto (aide to Soeharto from 1995 to 1998), Rosano Barack (Global Mediacom), and Bambang Trihatmodjo (son of Soeharto).

Apart from fX Sudirman, PT Plaza Indonesia Realty is the owner of more luxurious properties like Plaza Indonesia, Grand Hyatt Jakarta, Keraton at the Plaza, and The Plaza Offices.

Who is the architect?
I didn’t find this information.

Who is the contractor?
I didn’t find this information.

What is the situation with the land certificate?
The land on which fX Residence was built is owned by the Indonesian Government (more precisely by the Bung Karno Stadium).

This means the developer only has a land certificate called “HGB di atas HPL”, which is not full ownership (Hak Milik). This certificate was originally valid for 50 years, and the one of fX Sudirman will expire in 2043. After that, the developer might extend the permit, or he might have to give the property back to the Government. What is almost certain is that the owners of apartments will have to pay something, or worse, lose their apartment.

Design and Appearance

How does the building look like?

From Outside (Facade):
The apartment tower is thin and tall, but its design is unspectacular:

fX Sudirman mall and residence

Facade of fX apartments

Entrance/lobby:
There are two ways to enter fX Residence: From the mall’s basement (parking) and from the Harris hotel. The main lobby looks clean and it has marble tiles:

Entrance to Harris fX hotel

Lobby of fX apartments

Reception in fX apartments

Lobby of fX apartments

Waiting room fX apartments

Landscaping and Public Areas:

My main problem with fX residence was the lack of green areas. You only have a few plants on the mall’s rooftop, which is not enough to make it a pleasant place to relax.

Garden of fX Residence

Garden in fX Residence

Corridors and lifts:

The corridors are narrow but they are look upmarket:

Lifts in fX apartments

Corridors fX Residence

Size and Types of Apartments

The apartments’ size is approximately the following:

2-bedroom units: From 63m2 to 130m2 (1-2 bathrooms, maid room and study room in some units)
3-bedroom units: 150m2 (2 bathrooms, maid room)
3-bedroom units with study room: 218m2 (2 bathrooms, maid room)

Here are some photos that I took from a unit. Overall, the apartments I visited needed to be refurbished as they looked quite old and damaged:

Entrance door of fX Residence

Living room FX Residence

Kitchen FX Residence

Bathroom Fx Residence

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
Tiles corridors: 7
Painting: 6
Lighting: 6
Doors/windows: 6.5
Ceiling: 6.5
Elevator: 6.5
Gym equipment: 5.5
Pool equipment: 6.5
Furniture: 6

In the apartments:
Tiles/Parquet: 7
Bathroom equipment: 6.5
Kitchen equipment: 6

Overall Quality: 6.2/10

Comfort

Facilities and Services

What are the facilities provided in the property?

– The swimming pool is quite disappointing: It is tiny and the surroundings are not enjoyable.

Pool in fX Residence

Swimming pool in fX apartments

– Gym: Average-quality equipment and lacking some machines for weight-lifting.

Gym of fX Residence

Gym in fX Residence

– Playroom for kids:

Playroom in fX apartments

What are the services available within the property?
There are several services available in fX Sudirman mall: ATM, banks, laundry, restaurants, supermarket, salons, etc.

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?
Yes.

Atmosphere

Is the property busy and/or noisy?
fX Residence seemed relatively quiet. I imagine that on weekends, the swimming pool can get crowded easily. The units facing Jalan Sudirman will be the noisiest.

What is the background (ethnicity, social status) and attitude of residents?
The residents I saw were mostly Indonesians. There must be some expatriates too as the location can be interesting for executives.

Management

Maintenance

How old is the property?
The property was completed in 2006.

Are there visible damages?
There are a few, especially in the corridors and in the pool area. The building’s facade also looks tired.

Overall maintenance rating: 6.5/10

Cleanliness

I found the property to be clean.

Overall cleanliness rating: 7.5/10

Security

– Guards: On duty at the entrance and lobby 24/7
– CCTV cameras: In the lobby and public areas
– Access: You need a card to reach your floor

Overall security rating: 8.5/10

Hospitality

The staff is friendly and professional.

Overall hospitality rating: 9/10

Rooms and Prices

Prices at fX Residence 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:

2+1 Bedrooms (95m2) – Well-furnished:

• Rental 1 Year: Approximately IDR 240 million (or 20 million per month)
• Buy: Approximately IDR 2,100,000,000
• Break Even Point (Buying Price/Gross Annual Rental): 8.75 years
• Average buying price/m2: IDR 22 million/m2

Investment Potential

Reasons to buy:
Prices relatively low because of the uncertainty regarding the land certificate
Location on Jalan Sudirman, on top of a mall

Reasons NOT to buy:
Facilities not matching those of a luxury or upscale property
The buying price will probably decrease in the future since the land certificate will expire in 2043
Many apartments are in poor condition and need to be refurbished

Would I buy this property? (On a scale from 0 = “not at all” to 10 = “yes absolutely” ):
4/10