Signature Park Apartments
Signature Park Apartments is a budget apartment complex featuring one single tower of 20 floors, for a total of approximately 1,000 units.
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.
Note: Signature Park is owned by the Pikko Group, which is also developing Signature Park Grande, a large apartment complex that opened in mid-2018, also on Jalan MT Haryono. I will review it separately as soon as possible.
- 1 Location:
- 2 Building Quality
- 3 Comfort
- 4 Management
- 5 Rooms and Prices
- 6 Investment Potential
- 7 Address
- 8 My Ratings
In which neighborhood of Jakarta is the complex located?
Signature Park is in Tebet, and more precisely in Tebet Timur, a middle-class neighborhood at the East of Jakarta. It is mostly low-rise and residential, except along the main streets where you can find several towers (offices, apartments). This is the case along MT Haryono, a major road that runs parallel to the Jakarta Inner Ring Road (Toll).
By car, with normal traffic conditions, how far is the complex from:
– Jakarta Airport (CGK): 60-80 minutes
– Jakarta Airport (Halim Perdanakusuma): 30 minutes
– Grand Indonesia Mall: 50-70 minutes
– Kota Tua: 70-90 minutes
– Kemang: 70 minutes
Note that you must make a long U-turn everytime you want to go to the West of Jakarta (almost 3 kilometers wasted):
How does it look like around the apartment?
There isn’t much to do around the apartment:
At the South gate, you have Jalan MT Haryono, a large road with a massive traffic and very few interesting shops.
At the West and North gate, you have small lined with low-rise accommodation (from low to upper-class). You can go to a handful of warungs and to the park Taman Honda, probably the highlight of the neighborhood.
What are the important landmarks nearby?
Nearby, there are several landmarks you can go to:
There are a few standalone supermarkets, shops and department stores (Ramayana) near Signature Park, but no proper malls. The nearest ones are far away, at least 20-30 minutes (Kota Kasablanka, Pacific Place, Lotte Avenue)
There are a few available supermarkets within 5-10 minutes by car: Gelael, Superindo and Carrefour MT Haryono. You can also try shopping in local markets for fruits, vegetables and meats (Pasar PSPT or Pasar Tebet Barat, both about 1,5 kilometers away).
There is a cheap (but rather uncomfortable) food court besides the parking in the basement of the residence. For better food, you go to TIS Square on Jalan MT Haryono (Pho 24, Citrus Café, Tiga Nyonya, Sushi-Ya, etc), about 10 minutes away. Also, you have some street food and 2 warungs walking distance in the kampung area behind Signature Park.
Bars and Nightlife:
There is no nightlife in this area of Jakarta. You will need to go near Jalan Sudirman for that.
No major universities nearby.
Only local schools: SMA, SMU, TK, etc.
RS Tebet is about 10 minutes away by car. It is a general hospital for the low to middle class. Another one, RS Medistra, is about 20 minutes away. There is also a small clinic within Signature Park Apartments (Pearl Medic, or PT Mutiara Medical Service).
The park Taman Honda Tebet is 10 minutes by foot from the complex. It is not very clean but convenient for those who like to jog.
There are a few office buildings along MT Haryono such as Menara MTH, Menara Hijau, Graha Adira, Wisma Pede, Wisma Millenia or Graha Pratama. The real Central Business District of Jakarta, in Sudirman, is about 30 minutes away.
What are the main roads or highways nearby?
Signature Park is in front of Jalan MT Haryono and the Jakarta Inner Ring Road. This is a major axis in Jakarta as it links some important areas like Grogol, Semanggi, Sudirman, Gatot Subroto, Rasuna Said, Cawang, etc. Even though the toll gate (Cawang) is only 400 meters from the residence, it is often very difficult to reach it because of traffic jams.
What is the traffic situation near the apartment?
At the moment, this is one of the worst areas in Jakarta for traffic jams. One of the reasons is that the LRT is currently being built and the workers occupy a lane on both sides. Once the MRT will be completed, I hope that the situation will improve.
Is it easy for taxis/GrabCar to find the location?
Make sure you tell him that it is Signature Park and NOT Signature Park Grande.
Is there a Transjakarta bus stop nearby?
There isn’t a stop in front of the complex, but two are nearby: Tebet BUMN and Cikoko Stasiun Cawang. There, you can catch the following lines:
- 9,9A, 9B, 9C: Pinang Ranti, PGC 2, Kota, Pluit, Bundaran Senayan (with a dedicated corridor)
- 9H: Taman Mini, Grogol (without a dedicated corridor)
- B11, B21: Bekasi, Ciputat, Tosari (Suburban lines)
Is there a train station nearby?
Cawang station is 500 meters away (10 minutes by foot). It is a stop on the red line from Kota to Depok and on the yellow line from Jatinegara to Bogor. It is quite convenient to reach the Central Business District as there are stops in Karet and Sudirman.
How about the MRT (Mass Rapid Transit) or LRT (Light Rapid Transit)?
An LRT line is planned on Jalan MT Haryono and it should be completed in 2019. I suppose that the station will be merged with Cawang Station. This is an interesting development for Signature Park as this could mean less traffic and more options to go to Central Jakarta.
Are there sidewalks? Is it possible to walk around?
Yes, there is a decent sidewalk along Jalan MT Haryono.
Building and Architecture
What is the reputation of the developer?
The developer, PT Pikko Land Development, is a medium-sized company that owns a variety of apartment complexes ranging from low-end to upscale ones. The ones I’ve reviewed so far are Maple Park and Hampton’s Park, both of which were quite disappointing in terms of maintenance.They are also behind Botanica Residence, Sahid Sudirman, and Grand Kemayoran.
They had a few issues with their residents, particularly in Signature Park where people complained about their certificates (please read this article for more information).
Overall, I would rate their reputation as average and I would recommend being cautious when buying from them.
Who is the architect?
I don’t have this information.
Who is the contractor?
The contractor was Waskita Karya, a large state-owned enterprise that has a long experience building diverse projects (infrastructure, hotels, apartments, etc) such as Shangri-La Jakarta, BNI Tower, and Mandiri Plaza Tower.
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)
Signature Park consists of 1 L-shaped tower with a simple design. Each unit has a small balcony and a medium-sized window. AC units are visible from the street.
The main entrance is from Jalan MT Haryono, where Signature Park is indicated with a proper sign. The car lobby is a bit narrow and dark as it is located in the parking.
The reception is quite spacious and it looks neat. The ceiling is high, the floor has marble tiles, and the sofas are rather comfortable.
The public space of Signature Park is narrow as the designers have preferred making a large swimming pool instead of a garden. Still, it looks rather nice with plenty of trees, plants, and statues. Corridors:
Basic, with a gypsum ceiling and small ceramic tiles. I liked the wooden doors and frames.
How spacious are the apartments?
The apartments are rather small, in line with those of a budget property:
– 1-bedroom units = 23m2 and 38m2 (1 bathroom)
– 2-bedroom units = 38m2 (1 bathroom)
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: 7
Tiles Corridors: 4
Tiles Apartment: 4
Elevator: 6 (Sigma brand with marble flooring)
Gym equipment: 6 (Matrix Brand)
Pool equipment: 6
Overall Quality: 5/10
What is the quality of the finishes?
Good quality, even though there are still traces of paints and drips of cement from the construction.
Facilities and Services
What are the facilities provided in the property?
– Swimming pool: It is rather large, with a cold jacuzzi and a pool for kids. There are also a few cabanas and sun beds for people to relax. The only problem is that it is quite crowded on weekends.
– Gym: Only a few machines (professional) but it is enough for most people. There is a sauna attached to it.
– Kids’ Playground: It could be nice but it is in a corridor that looks like a parking lot.
What are the services available within the property?
A few services are available: ATM, food court (Indonesian food), minimarket, laundry…
Are there issues with the electricity supply?
The electric supply is limited. Usually, you will get 1,300VA for a 1-bedroom unit and 2,500VA for a 2-bedroom unit.
Are their issues with parking?
Do make sure you have a parking spot with your apartment if you own a car.
How many lifts are there in each tower?
There are 4 lifts per tower.
Does the apartment have centralized hot water?
No, you will need 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.
Is the property busy?
While Signature Park Apartment is still new, I found it was quite busy and I suppose the occupancy is high.
Is it noisy?
A little bit. Naturally, the apartments facing Jalan MT Haryono will have some noise from the street. The apartments facing the North will have to hear the mosque from the neighboring kampung.
What is the background (ethnicity, social status) and attitude of residents?
Most residents are Indonesians pribumi, with a few Indonesian Chinese. They are mostly from the middle to upper class.
How old is the property?
It was completed in 2015.
Are there visible damages?
Not too many yet. The paint in the corridor already looks a bit old but it is still acceptable.
I found the property to be clean enough.
The garden is well-maintained.
– Guards on duty at the gates and reception: 24/7
– CCTV cameras: Few
– Access card: Yes, you need an access card to enter the lift area.
The staff was friendly and professional.
Rooms and Prices
Prices at Signature Park Apartments 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 (23m2) – Well-furnished:
- Rental 1 Year: IDR 54 million (or 4.5 million per month)
- Buy: IDR 700,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 13 years
- Average buying price/m2: IDR 30.4 million/m2
2-Bedroom Type (38m2) – Well-furnished:
- Rental 1 Year: IDR 84 million (or 7 million per month)
- Buy: IDR 1,100,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 13.1 years
- Average buying price/m2: IDR 28.9 million/m2
Which units are the best? Units facing West have their view blocked by Bellevue Residence. Units facing South have the noise and pollution from Jalan MT Haryono. Units facing the North are the best ones, especially those with a pool view.
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:
- The construction of the LRT line should make the location more strategic
- Construction of new office buildings on MT Haryono
– Factors pushing the prices down:
- Strong competition in this area with plenty of new projects
- The LRT station will not be in front of Signature Park
- Pikko Group doesn’t have a strong reputation
Overall evaluation of the price: Would I buy here?
The current break-even point of more than 13 years for this property is a bit high considering the reputation of the developer. For an investment, I would not buy there in priority as there are better and safer opportunities elsewhere in Jakarta.
However, if you are looking for a place to live in that area, with a budget under IDR1,000,000,000, then I would say this is one of the best options.
Signature Park Apartment
Jalan MT. Haryono No.22, Tebet,
South Jakarta 12820
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.
- City park 5 minutes away, perfect for runners
- Good public transportation nearby (Transjakarta, Train, and soon the LRT)
- Limited public space and crowded swimming pool
- Few interesting things to do around (no malls, few restaurants, etc)
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