Completed in 2011, the project was led by PT Jakarta Realty, a joint venture between Agung Podomoro Land and Jakarta Propertindo. The same group also built the nearby Thamrin Residences, Cosmo Terrace, and the mall Thamrin City.
Due to its Central location and reasonable prices, Thamrin Executive Residence is very popular among expatriates and visitors. But is it really as good as people say it is?
Scroll below to read the full review of my stay there:
In which neighborhood of Jakarta is Thamrin Executive Residence located?
It is in Tanah Abang, Central Jakarta, one of the most important trading and shopping centers in the city. It is a neighborhood full of contrast, with luxury malls and 5-star hotels only a few hundred meters away from low-income houses.
In terms of location, it is very central, but not perfect. Indeed, Thamrin Executive is in a small street, about 800 meters from Grand Indonesia. It’s not much distance, but if you go there by car, you need at least 10 minutes (because of traffic jams and useless U-turns). By foot, the road is not so pleasant and the weather is hot (and you still need around 10 minutes).
How far is it from:
– Jakarta Airport: 60 minutes
– Grand Indonesia Mall: 10 minutes
– Kota Tua: 40 minutes
– Kemang: 45 minutes
How does it look like around the apartment?
Thamrin Executive Residence is bordered:
– On the North by Thamrin City Mall. A busy area full of cars and shoppers.
– On the South by Thamrin Residence, a sister property you can walk to.
– On the East by a road, and then by a water reservoir – Not interesting
– On the West by a local neighborhood (kampung) – Not accessible
What are the important landmarks nearby?
Walking distance, there are a few landmarks you can go to:
Malls: Thamrin City is the nearest mall. It is targeting the Indonesian middle-class, with many cheap, non-branded shops. Famous for Muslim wear. There is also a Hypermart supermarket, a food court, and many affordable restaurants (including fast food chains like Burger King, Lotteria and Domino’s).
Grand Indonesia is possibly the busiest mall in Jakarta. It is a medium-to-high end mall where Jakartans love to hang out. You can find almost everything there. Very good cinema and food court.
Plaza Indonesia is the most luxurious mall in Jakarta. Home to brands like Louis Vuitton, Cartier, Chanel, etc. There are also more affordable shops, a supermarket, a cinema, a nightclub, bars, restaurants, etc.
Supermarkets: Hypermart in Thamrin City (cheap), Ranch Market and FoodHall in Grand Indonesia (expensive, imported products), FoodHall in Plaza Indonesia. There is also a rather large minimarket (with fruits, vegetables) in Thamrin Residences.
Restaurants: Too many to count in Grand Indonesia and Plaza Indonesia. All kind of cuisine you like, at every price. Nearer, there are also around 10 affordable restaurants in Thamrin Residences.
Bars: Cork&Screw, Immigrant, 99, Burgundy, Skye, Cloud, Paulaner Brauhaus.
Universities and Schools: None famous.
Preschools: Jakarta World Academy in UOB building.
Hospitals: None very near. There is a Brawijaya Clinic in UOB building.
Parks: The closest is the park surrounding the MoNas (National Monument), about 2.5 kilometers away.
Offices: Many office buildings are nearby, especially the ones located in Jalan Thamrin: The Plaza, UOB, Wisma Nusantara, etc.
What are the main roads or highways nearby?
Thamrin Executive is on a small road, but it is about 1 kilometer (10 minutes by car) from Jalan Sudirman. This large avenue is one of the most important in Jakarta as it connects the South (Senayan) to the North (Kota Tua). It is also the street with the most skyscrapers and the most attractions (bars, restaurants, malls) in the whole city.
What is the traffic situation near the apartment?
Just in front of the apartment, the road is usually quiet. The problems start as you reach either Jalan Kebon Kacang Raya or Jalan KH Mas Mansyur. You are almost certain to get stuck there. That’s why I was saying earlier that even though Thamrin Executive Residence is in Central Jakarta, you should not underestimate the time it may take to go even to Jalan Sudirman.
Are their issues with parking?
I haven’t heard about any parking issues in Thamrin Executive Residence.
Is it easy for taxis/Uber/Grab to find the location?
Yes, but most often they will bring you to Thamrin Residences because it is more famous.
Is there a Transjakarta bus stop nearby?
The closest station is Tosari on Jalan Sudirman, but it is more than 10 minutes away by foot. From there, you can take several lines (1, 2A, 3A, 6A) to destinations like Kota, Blok M, Kalideres, Ragunan, Monas, Pulo Gadung and Senayan.
There are also plenty of non-AC buses that you can catch in Tanah Abang (to Bekasi, Blok M, Kampung Rambutan, etc).
Also, you can take a DAMRI bus to Jakarta airport for only IDR40,000 in front of Thamrin City.
Is there a train station nearby?
Not exactly nearby. The nearest (10 minutes by car) is Karet Station, which is a stop on the Yellow line going from Bogor/Depok to Jatinegara (via Pasar Minggu, Tebet, Manggarai, Senen). Tanah Abang station is even further but you can get the Blue line from there (to Serpong and Bintaro).
How about the MRT?
An MRT station will be built in Bunderan HI, in front of Plaza Indonesia. This would be about 10 minutes from Thamrin Executive Residence.
The recently-inaugurated train link between the Airport and Central Jakarta arrives at BNI City railway station, about 15 minutes from the residence. It is convenient as you won’t be dependent on traffic jams whenever you need to catch a flight.
Are there sidewalks? Is it possible to walk around?
They are not in great condition, but still, you can walk to Thamrin City, Plaza Indonesia, Grand Indonesia.
Design and Architecture
What is the general concept of the apartments?
Thamrin Executive Residence is supposed to be more exclusive than Thamrin Residence. In terms of building design, there aren’t many differences between the two (except the garden and pool area). The reason why people are willing to pay more is that Thamrin Executive is less crowded, more like a boutique complex.
How does the building look like from outside?
The tower looks rather ordinary. It is L-shaped, with small windows and balconies, and a uniform light grey color. It is pretty much identical to Thamrin Residences and Cosmo Terrace.
How spacious are the apartments?
The apartments size is average, in line with the standards of a midrange property:
– Studio units start at 28m2 (1 bathroom)
– 1-bedroom units start at 42m2 (1 bathroom)
– 2-bedroom units start at 57m2 (1 bathroom)
– 3-bedroom units start at 108m2 (2 bathrooms)
How does the reception look like?
The reception is medium-sized, with sofas that can accommodate about 10 persons. It has a high-ceiling, marble tiles on the floor and on the walls, and a large reception desk. A porter is available.
How does the garden and pool area look like?
The garden and the pool area are cramped in a rather tiny space. Furthermore, the pool is in the shade most of the time, so the water is cold. Visually, it looks neat but not really impressive.
How old is the property?
It was completed in 2012.
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.
Building Materials and Finishes
What is the reputation of the developer?
Thamrin Executive was developed and it is owned by PT Jakarta Realty, a joint venture between two large Indonesian companies (Agung Podomoro Land – APL – and PT Jakarta Propertindo) and the city of Jakarta (though the BUMD – Badan Usaha Milik Daerah).
Agung Podomoro Land and Jakarta Propertindo have a fairly good reputation in the midrange segment, but not all of their properties are in good condition. APL’s complex Mediterania Gajah Mada, for instance, looks terrible. That said, considering that the prices in Thamrin Executive are higher, there shouldn’t be this type of problems here.
Who is the architect?
I’m not sure who was the architect for the project, but it seems to be the consultancy firm Airmas Asri. They have worked on several high-end towers such as The Capital Building or Pakubowono View.
Who is the contractor?
The contractor was Nusa Raya Cipta, a large company that has worked on upscale buildings like Soho Apartments or Royale Springhill Garden.
What is the quality of the materials used in the construction?
From what I could see, materials used are a mix of budget ones and more expensive ones. The lobby, for instance, has marble tiles, but the corridors have only regular ceramic ones.The lifts have marble tiles as well, but their external frames are not covered. The false ceiling is basic. The wood in the pool deck is also not too strong as it already shows some signs of damage.
What is the quality of the furniture and equipment?
Again, it depends, but it is generally average. The machines at the gym are professional ones from the reputed brand Matrix. Lifts are from SIGMA, a decent but not a top brand. Sofas in the reception are not too comfortable. The playground for kids looks a bit cheap, all in plastic. The sunbeds at the swimming pool have a tiny mattress, not too comfortable.
Overall, the standards are those of a midrange property, with only a few exceptions.
What is the quality of the finishes?
The quality is satisfactory.
Are there issues with the electricity supply?
How many lifts are there? What is the brand?
There are 3 lifts + a private one for the most expensive apartments.
Facilities and Services
What are the facilities provided in the property?
– A narrow, but long swimming-pool, with pretty cold water. Good for swimmers, not so much for kids. There are not enough sunbeds around. The swim-up bar is not operational.
– A kid’s pool, next to the big one.
– A rather well-equipped and modern gym with an aerobic room.
– A basic kid’s playground:
– A putting green for golfers:
– A barbecue area:
– I read about a Jacuzzi and a Sauna but I didn’t see them.
What are the services available within the property?
– A salon, a coffee shop, a property agent and a minimarket just in front of the gym:
If you walk about 5 minutes, you can go to Thamrin Residences where there are many ATMs, restaurants, laundries and 24/7 minimarkets.
How busy is the property?
The occupancy is high, but it is not a very busy property, especially compared with Thamrin Residences.
Is it noisy?
You can hear a mosque distinctly when you stay on the West side of the tower.
What is the background of residents (ethnicity, social status)?
It is very mixed. I would say 70% Indonesian (less than half Indonesian Chinese) and 30% expatriates. Most are young executives, without children, who work in the Central Business District.
The maintenance of Thamrin Executive is good, but I noticed some areas that were a little damaged. For instance, the wood deck at the swimming pool or the paint on the facade and the corridors. Since the property is relatively new, this could also mean that the materials used in the first place were of low quality.
The property is clean.
– Guards on duty at the gates and reception: 24/7
– CCTV cameras: Yes
– Access card: Yes, you need an access card to enter the lift area and to go to your floor.
The staff was friendly and professional.
Rooms and Prices
Prices at Thamrin Executive 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:
Studio Type (32m2) – Furnished:
- Rental 1 Year: IDR 84M (or 7M per month)
- Buy: IDR 1,100,000,000
- Break Even Point (Buying Price/Gross Annual Rental): 13 years
- Average buying price/m2: IDR 34M/m2
2-Bedroom Type (60m2) – Furnished:
- Rental 1 Year: IDR 168M (or 14M per month)
- Buy: IDR 2,500,000,000.
- Break Even Point (Buying Price/Gross Annual Rental): 14.9 years
- Average buying price/m2: IDR 41M/m2
Which units are the best?
The best view is that of the units facing East, BUT I am pretty sure that there will be a construction there one day. There is a vast empty plot of land and I cannot imagine that it will stay that way considering the strategic location. It is worth thinking about if you plan to buy an apartment for renting it out. A noisy project would mean a lower rent.
Personally, I would choose a high floor facing North as there is a certainty there won’t be a construction. From there, you can view Thamrin City and a big part of Jalan Thamrin.
I would avoid the units facing West because they have the noise of the mosque, and the units facing South because the view of Thamrin Residence is not interesting.
Is there a potential for a price increase in the future?
The normal price increase for apartments in Central Jakarta is 5% to 7% per year. You cannot expect much more in Thamrin Executive. The following factors may affect the price:
– Factors pushing the prices up:
- New office buildings and malls being built nearby (next to Plaza Indonesia in particular).
- Construction of a major MRT station in Sudirman, 10-15 minutes away.
- The development of platforms like Airbnb means you can get much more money by renting daily to tourists (at least IDR500,000 for a studio unit).
- The developers are famous and with a fairly good reputation.
– Factors pushing the prices down:
- There is still a lot of available land in Tanah Abang. As prices go up, more plots will become available to build towers, thus preventing too much inflation.
- The MRT will make it less desirable to be in Central Jakarta (and not worth the current location premium).
- The maintenance might be problematic.
Overall evaluation of the price compared to the competition:
Thamrin Executive is a rather expensive property overall, and what you are paying for mostly is the location. You could get similar facilities and comfort in other neighborhoods of Jakarta for half the price.
Even within the Tanah Abang area, it is slightly more expensive than its direct competitors, Thamrin Residences and Cosmo Terrace. For me, it is not worth it, unless you really insist on being in a less crowded property (even if it means having fewer facilities).
Thamrin Executive Residence
RT.7/RW.9, Kebon Melati, Tanah Abang,
Central Jakarta 10230, Indonesia
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.
- One of the few apartment buildings available in this location with a reasonable price tag
- Clean, decently-maintained, with a boutique feeling
- Good gym, long swimming pool
- Not the best choice if you have kids
- Not so many services in-house
- Small public areas
- Expensive neighborhood
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