Verde 1 is a luxury apartment complex popular with expatriates. It consists of 2 towers of 19 floors and 1 tower of 32 floors, for a total of 251 units.

Completed in 2013, it was developed by FarPoint, the property branch of the Gunung Sewu Group (Sequis Life Insurance, Sun Pride Bananas, etc). A second complex, Verde II, is scheduled to open in 2019 just across the street from Verde I.

It is one of the few luxury apartments in Jakarta that allows pets (dogs, cats, etc).

I visited the residence with an agent and this is my full review of it:

Location:

Neighborhood

In which neighborhood of Jakarta is Verde located?

Location of Verde Apartments

The complex is located in Karet, Setiabudi, just behind Jalan Rasuna Said. While this is a business area with many high-rise buildings (hotels, offices, apartments), the surroundings of Verde are still undeveloped. You can see that from the following satellite view and from a picture I took from the balcony of an apartment in Verde:

Satellite View – The green spaces around Verde are empty lands that are yet to be developed

This photo was taken from one of the apartments of Verde. You can see that for now, the surroundings have not been developed yet.

This means that there is absolutely nothing to do just outside Verde. Wherever you’ll want to go, you will need a car.

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.

Despite its boring surroundings, Verde is still in a rather strategic location 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.

Beware of the traffic and the U-turns, though. If you want to go across the street on Jalan Rasuna Said, for instance to Setiabudi One, you will have to do this:

Car itinerary between Verde Apartments and Setiabudi One – Even though only a few hundred meters separate both locations, you’ll probably need 15-20 minutes to do this trip by car during rush hours.

By car, with normal traffic conditions, how far is it from:
– Jakarta Airport (CGK): 60 minutes
– Grand Indonesia Mall: 15 minutes
– Sudirman Business District: 15 minutes
– Kota Tua: 60 minutes
– Kemang: 50 minutes

How does it look like around the apartment?

 Arriving to Verde Apartment from the North – Street View

 Arriving to Verde Kuningan from the South – Street View

What are the important landmarks nearby?

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

Malls:
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).

Supermarkets:
Farmer’s Market in Epicentrum Walk

Restaurants:
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.

Universities:
Bakrie University

Junior/High Schools:
Royal Primary Academy (Sekolah Royal Tunas Mulia)

Preschools:
ISEC preschool in Epicentrum Mall.

Hospitals:
MMC Hospital

Parks:
About 10 minutes away by car, you have small parks like Taman Menteng or Taman Tangkuban Perahu

Offices:
Many office towers are nearby: Bakrie, Cyber 2, Menara Karya, etc.

Embassies:
Many within easy reach: Australia, Saudi Arabia, Singapore, India, Holland, India, UK, Russia, Ukraine, Greece, Belarus, Hungary, etc.

Transportation

Is there a Transjakarta bus stop nearby?
None is very near. The closest one is Kuningan Madya about 12 minutes away by foot. From there, you can go directly to Ragunan, Dukuh Atas, Senen, Lebak Bulus, Manggarai, and TU Gas.

Transjakarta near Verde Apartment

Is there a train station nearby?
Not really. The closest ones are Manggarai and Sudirman but they are at least 3 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 Quality

Building and Architecture

What is the reputation of the developer?
The developer of Verde is Farpoint (PT. Bangun Kuningan Indah), a subsidiary of Gunung Sewu Group. The latter is a large Indonesian conglomerate owned by the Angkosubroto family. It has several business interests: Sequis Life Insurance, Sunpride bananas, Sunfresh juices, Rejuve, and it is the third biggest producer of pineapples in the world. The Angkosubroto family is also the owner of PT Duta Anggada Realty Tbk, a property company behind Cityloft Sudirman, Chase Plaza and Bapindo Plaza.

Farpoint has limited experience, but so far they have achieved a good reputation. With the building of Sequis Tower, they won a prize in the Skyscrapers/High Rise category at the International Architecture Awards 2018 and another one in the Best Green Development and Best Universal Design Development at the Indonesia Property Awards 2017.

One thing you should know is that there was once a fire at Verde which came from one of the units.

Who is the architect?
Three international architecture firms helped design Verde:

• Yabu Pushelberg, USA, for the interior design and amenities
• Belt Collins, USA, a design firm behind the Ritz Carlton Bali and Conrad Koh Samui Residences.
• RTKL, USA, a large architectural firm behind projects like the Mandarin Oriental Hotel Miami or The Capitol Visitor Center in Washington DC. In Indonesia, they designed Grand Indonesia Mall, Four Seasons Hotel Jakarta and the Ciputra World.

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, Mediterania Garden Residences, 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):

I find it stylish, especially the highest tower that has a unique shape and design:

Verde Jakarta Architecture

Verde Jakarta Design

Facade Verde Jakarta

Entrance:

Exclusive entrance with a large car drop-off area under a huge canopy:

Street View – Entrance Verde Jakarta

Car lobby Verde Jakarta

Lobby car of Verde Jakarta

Reception/Lobby:

The main reception and lobby area of Verde is outdoor. It is spacious, with plenty of sofas and chairs to sit down. Each tower also has its owned lobby, with aircon. Great design with a nice artistic touch.

Sitting area in Verde Jakarta

Reception Verde Jakarta

Sitting area Verde Jakarta

Reception desk Verde Jakarta

Landscaping and Public Areas:

Due to its “resort” concept, the designers of Verde have made sure to include several green spaces and gardens in the complex:

Sitemap of Verde Apartments

Garden in Verde Jakarta

Green alleys in ground floor Verde Jakarta

Verde Swimming Pool Panorama

Corridors and lifts:

The corridors receive a lot of natural light, but I didn’t like how simple they looked. It felt a bit cheap in my opinion.

Corridors Apartments Verde Jakarta

Lift corridor Verde apartments Jakarta

Lifts Verde Jakarta

Entrance door of an apartment in Verde Jakarta

How spacious are the apartments?
The apartments’ size is the following:

– 2-bedroom units = From 140m2 to 178m2 (2 bathrooms, maid room, private lift in some units)
– 3-bedroom units = From 180m2 to 320m2 (3 bathrooms, maid room, private lift in some units)
– 4-bedroom units and penthouse = 382m2 (3-4 bathrooms, maid room, private lift in some units)

Here are some photos of a 2-bedroom apartment I visited:

Living room apartment Verde Jakarta

Bathrooms Verde Jakarta

Kitchen Verde Jakarta

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:
Finishes/Quality of construction: 9
Tiles lobby: 8
Tiles corridors: 6
Painting: 8
Lighting: 6
Doors: 8
Ceiling: 6
Elevator: 9
Gym equipment: 8
Pool equipment: 7
Furniture: 7
Artwork: 7

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

Overall Quality: 7.5/10

Comfort

Facilities and Services

What are the facilities provided in the property?

– Swimming pool: Large resort-style swimming pool with plenty of sun. Warm water. Lots of plants and trees. Enough sunbeds and chairs to relax (except on weekends). Part of the pool has shallow water for kids.

Swimming Pool Area Verde Jakarta

Pool Verde Jakarta Kuningan

– Gym: Good professional equipment (Life Fitness). Maybe lacking free weights and heavy weights if you are planning to train seriously.

Weight lifting in Verde Jakarta

Gym equipment in Verde Jakarta

Fitness Gym in Verde Jakarta

– Kids’ playground:

Kids Playground Verde Jakarta

– There is also a sauna, a BBQ area, a jogging track, a playroom for kids, a room for aerobic/yoga/pilates, a 12-seat theater, a club lounge, a business center, 2 meeting rooms and the Wi-Fi in all public areas.

What are the services available within the property?
I didn’t see a minimarket or an ATM. There is a laundry service

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?
Yes.

Atmosphere

Is the property busy?
Even though there are only 251 units, Verde was quite busy either in the lobby, the gym or the pool. I guess its occupancy must be high.

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?
Verde is very popular with expatriates, particularly those working in the embassies nearby.

Management

Maintenance

How old is the property?
It was completed in 2013.

Are there visible damages?
Not really, it still looks new and well-maintained.

Cleanliness

I found the property to be clean.

Gardening

The garden is well-maintained.

Security

– Guards on duty at the gates and reception: 24/7
– CCTV cameras: Many in the lobby, in public areas, in corridors and the lift.
– Access: You need an access card to enter the lift area and to reach your floor.

Hospitality

The staff is friendly and professional.

Rooms and Prices

Prices at Verde 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 (178m2) – Well-furnished:

• Rental 1 Year: Approximately IDR 420 million (or 35 million per month)
• Service charge: IDR 7,500/m2/month = IDR 1,335,000 (usually paid by the owner)
• Buy: Approximately IDR 6,300,000,000
• Break Even Point (Buying Price/Gross Annual Rental): 15 years
• Average buying price/m2: IDR 35 million/m2

Investment Potential

Is there 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:

• Construction of new office buildings and embassies in the Setiabudi area
• Completion of LRT project

– Factors pushing the prices down:

• The opening of Verde II will probably make Verde I less desirable
• Plenty of empty land around Verde, meaning a lot more apartment towers can be built in that area

Overall evaluation of the price: Would I buy here?
Verde is an excellent property and it is popular with expatriates who keep the prices up. That said, the number of foreigners in Jakarta is limited and I’m afraid that in a few years, they will choose newer towers instead of Verde. For this reason, I would rather invest in Verde II instead of Verde I.