MABA Suitez review: is it worth buying?

Location

The site is on Jalan Hang Jebat, in the old city core of Kuala Lumpur, away from the KLCC area. Across the road is the Merdeka 118 precinct, which also holds the Park Hyatt. Merdeka 118 (678.9 m), 118 Mall and the restored Merdeka Stadium are each about 50 m away. MRT Merdeka (SBK17, Kajang line) is about 160 m away and Lalaport Bukit Bintang City Centre about 800 m. Judge this location on foot, not by car. Distances are the developer's approximate figures.

Pros & cons

Office suite or serviced apartment?

MABA Suitez sells two property categories in the same building. Type A (323 sqft) is a strata office suite. Types B and C are serviced apartments sold under the Housing Development Act. The difference shows up in three places:

• Financing: banks may lend a lower margin on an office suite than on a serviced apartment, so the RM699,000 entry may need a larger down payment.
• Resale: an office title sells to a different pool of buyers than a serviced apartment.
• View: both Type A and Type B face north. If you want Merdeka 118 from your window, only Type C delivers it.

Tenure: leasehold, not freehold

Many agency listings have described MABA Suitez as freehold. The developer documentation shows leasehold commercial land, and the remaining lease term has not been published. The lease term affects financing and resale, so ask for the lease expiry date in the APDL disclosure before you book.

The MABA joint venture

The land belongs to the Malaysian Basketball Association. It went into a joint venture with EXSIM, through EXSIM MABA Sdn Bhd, rather than being sold. MABA moves into a new 3,000 sqft headquarters on the level 6 podium, next to a 3x3 basketball court. Press reports say the proceeds will fund about RM170 million of long-term assets for Malaysian basketball. About RM120 million of that is earmarked to buy back units in the development and earn rental income from them. The project's reported gross development value is RM800 million.

Who should consider it

• Consider Type C if the Merdeka 118 view is the reason you are buying. It is the only layout that faces it.
• Consider Type B if you want a serviced apartment a two-minute walk from an MRT station.
• Check financing first before Type A. RM699,000 is the lowest ticket, but it is an office suite.
• Compare with Phoeniz Suites if freehold title matters more to you than the Merdeka 118 address.
• Wait if you need the lease expiry date before deciding. It has not been published yet.

MABA Suitez vs Phoeniz Suites

Measured against its smallest 484 sqft layout, Phoeniz Suites has the lower entry psf, and it comes with freehold title. MABA Suitez has the lower entry ticket through its office suite, the Merdeka 118 frontage and an MRT station closer to the door. See Phoeniz Suites.

Developer track record

EXSIM has been building since 2008 and reports more than 80 projects, with a FIABCI World Prix d'Excellence award for The Rainz @ Bukit Jalil (2023). Its KL city-centre serviced suites include Scarletz, Ceylonz, Hugoz, Kylicz and Noordinz. According to the developer, MABA Suitez builds on the Scarletz and Ceylonz concept, with more facilities and more lifts. Visit a completed EXSIM city-centre building to check finishing and management quality before you commit.