December 5, 2018: Signing Ceremony for Kami Management Services, LLC (joint venture)!
Cosmos Plan Sdn. Bhd., the company in charge of managing the first Japanese condominium in the Mont Kiara area of Kuala Lumpur, where there is a high concentration of Japanese expatriates. The company held a successful signing ceremony with Mr. Orikasa, Minister at the Embassy of Japan in Malaysia. Many local media representatives (including Japanese media) gathered at the ceremony.
Kami Management Service Sdn. Bhd. is a 51:49 joint venture between the developer, Ireka Corporation (listed on the first section of the Kuala Lumpur Stock Exchange), and our company, Cosmos Plan Sdn. Bhd, which will oversee the management and operation of the property after its completion. As a partner of the joint venture, we are mainly responsible for attracting tenants and ensuring the smooth operation of the property.
Mr. Orikasa, the guest of honour, stated that Japan and Malaysia have had diplomatic relations for 61 years. The Look East policy (pro-Japan policy) has been in place since 1981-2003, when Prime Minister Mahathir was the former Prime Minister. He also stated that many Japanese companies have established operations in Malaysia. We expect that Japanese companies will continue to expand their business in Malaysia in the future.
This signing ceremony marks another day of commitment and progress in the operation and management of Kami Residence.
Property Concept
Since 2011, the number of foreign citizen living in Kuala Lumpur has increased rapidly. Only according to the Embassy of Japan in Malaysia, the number of Japanese residents has more than tripled from 6,257 in 2011 to 19,861 in 2017. This is due to the shift of many manufacturing industries from China to Southeast Asia, and the entry into Malaysia of new industries such as distribution, services, and restaurants. There is also a rapid increase in the number of foreigners living in Kuala Lumpur on MM2H visas and studying abroad. This trend is expected to continue in the current government.
These rental condominiums are designed for the rapidly increasing number of expatriates and long-stayers in Kuala Lumpur, and are equipped with bathtubs, washlets, entrance hallways, etc. as standard features for Japan-esque specifications.
Property Summary
- Developer
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Ireka Corporation Sdn. Bhd.
(Developer of Seni, Tiffani, I-zen, etc. and owner of One Mont Kiara.) - Location
- Mont' Kiara, Kuala Lumpur
- Scheduled completion
- 2024
- Total number of units
- 168 units (119 units are for sale, 48 units are owned by the developer)
- Number of floors
- 18 floors
- Room type
-
2 bed (78m²)56 units
2+1 bed (91m²)42 units (100m²) 14 units
3+1 bed (123m²)14 units (130m²) 14 units, (134m²)14units, (149m²) 14 units - Land type
- Feehold
- Mortgage Loan
-
Foreigners can obtain financing from local banks.
Loan guidelines are:
1) age 60 or younger
2) repayment term of up to 30 years or the number of years until the applicant turns 65, whichever is shorter;
3) multiplier: 60-70% of the purchase price for local expatriates,
MM2H visa holders also have an easier time getting a loan. We can help you apply for a bank loan.Please contact us for more details.
Kuala Lumpur Office (Takakatsu AIdan Ishihara): malaysia.property@cosmosplan.jp
(Jenny Ong): jenny@tpcl.jp
Map
A suburb located approximately 7KM northwest of downtown Kuala Lumpur.
Convenient for daily life as it is within walking distance of Publika Mall (500m) and Solaris Mont Kiara (260m) shopping malls and restaurants, which are very popular.
Easy access to expressways and major roads, making it convenient for commuting.
Surroundings
Publica Mall with many fashionable stores and Japanese restaurants.
Solaris Mont Kiara
Grocery (Cold Storage)
10-15 minutes drive to KL Famous Club (TPC Kuala Lumpur)
Many Japanese restaurants within walking distance
Floor Plan
4th floor, fully equipped with luxurious facilities
The fourth floor of the facility is fully equipped with all the facilities of Malaysian-style luxury and Japanese-style facilities.
Kami Residence will provide the resident with a unique Japan atmosphere that only Kami Residence can offer.
- Swimming Pool
- Barbecue Area
- Gym
- Multipurpose Hall
- Japanese Garden
- Onsen
Advantages
Advantages in renting AND for own use!
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Location
Walking distance to popular malls: Solaris and Publica, in the most popular residential area for Japanese expatriates in Mont Kiara.
This is the area where Japanese expatriates (especially families) want to rent! -
Japanese Style and standard
Local condos usually do not have bathtubs, washlets, or entrances, which is a source of inconveniences for expatriates from Japan.
Kami will provide a bathtub, bidet, and entrance as standard equipment.
Facilities include a swimming pool, gymnasium, onsen (open-air bath style), and Japanese garden. -
Ancillary Services
Japanese restaurant, convenience store, laundry, etc. in the condominium.
Shuttle bus service will also be provided to nearby malls and Japanese associations. -
Centralized management
Expatriates generally rent properties from private owners and handle repairs, etc using a third party, which can be stressful for everyone.
Kami has a management and repair team on hand to respond quickly to repairs. -
Pets allowed
Pets are mostly not allowed in local condos, and pet lovers often have trouble finding properties, so pet-friendly KaMi should be the choice for tenants with pets. -
Japanese management companies for Japan level of quality
The properties will be managed jointly by the developer (Ireka) and Cosmos Plan (Apaman Kuala Lumpur).
Cosmos Plan has been dealing with and managing rental properties for many Japanese companies in Kuala Lumpur since 2009. -
Guaranteed Rent 5 years after completion
The developer provides 5% per year for the first two years and 6% per year for 3-5 years with no tenant search or rent collection risk.
During the sublease period, the owner does not have to pay monthly common expenses or reserve for repairs. -
One of the best returns in Malaysia
The average returns in central KL are currently around 3%, and around 4% in the Mont Kiara area.
Kami's initial 5% return and 6% in years 3-5 are almost the best returns for local condominium investment! -
Lease can continue after 5 years
The location of Kami, the concept, and the advantage of managing a single building suggest that there will be high rental demand after subleasing.
Even if the property is converted to self-use after 5 years, it can be said that it is an easy to live in condominium with Japanese standards
Reasons for Recommendation
- Japan standards (Bathtub, washlet, and entrance to all rooms)
- Special facilities (Outdoor bath, Japanese garden, swimming pool, gym, library, etc.)
- Commercial stores (Japanese restaurants, convenience stores, etc.)
- Fully furnished, with 1 or 2 parking spaces (2 spaces for rooms over 100m2)
- Pet-friendly property with centralized management of one building to relieve tenants' stress
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Benefits for owners
Rent guaranteed for the first 5 years (all owners are required to sublease to the management company for the first 5 years)
Year 1-2: 5% per year, Year 3-5: 6% per year (on the purchase price) / For the first 5 years, the property will be leased mainly to Japanese expatriates and long-stay (MM2H) tenants.
After 5 years, the property can be converted to self-use or continued to be leased / After completion, the property will be jointly managed by the developer and Cosmos Plan (Apaman Malaysia).
Common expenses and reserve for repairs during the sublease period will be borne by the management company.
Minimum purchase price for foreigners (RM 1,000,000) -
Mortgage can be obtained from local banks.
Loans are especially easy to obtain for expatriates and MM2H holders, and loans can be repaid with rent.
Introduction Video
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