Below 10 Years Mixed Development (Entire) (Silver)
THE FACE Platinum Suites
Just a 15-minute stroll from Suria KLCC in Kuala Lumpur city centre is the imposing 51-storey THE FACE Platinum Suites along Jalan Cendana, off Jalan Sultan Ismail. Home to luxury serviced residences and the five-star THE FACE Suites hotel, it forms the first phase of the 4.75-acre THE FACE mixed development by Platinum Victory Holdings Sdn Bhd (PV).
To be developed over three phases, THE FACE marks PV’s maiden foray into the luxury residences and hospitality market.
Completed at end-2015 with a gross development value of RM1 billion, THE FACE Platinum Suites is managed by PV’s property management arm Platinum Victory Property Management Sdn Bhd, together with the building’s Joint Management Body (JMB) and the hotel, which is integrated with the residences.
Managing the property has not been easy especially in light of the Covid-19 pandemic. Despite the challenges, THE FACE Platinum Suites has proved its mettle, earning it a Silver in the Below 10 years – Mixed Development (Entire) category of EdgeProp Malaysia’s Best Managed & Sustainable Property Awards 2021.
Thinking out of the box
Being a hybrid of fully-furnished SoHo-concept serviced residences and hotel, it is able to offer a range of residential options from own-stays, short-term and long-term stays to typical hotel stays.
The developer has retained 200 of the total 733 units for the hotel, but over the years, as many as 288 residences have been converted into short-term rental (such as Airbnb) status by their owners.
These short-term rental units can be self-managed by owners or by the property management. Should the owners wish, the units can be converted back into residences anytime.
“The majority of our owners treat their units as their own retreat homes but some do not mind leasing theirs out on a short-, mid- or long-term basis,” says PV executive director Gan Yee Hin.
According to PV, the unexpectedly long travel restrictions and border closures stemming from the Covid-19 outbreak beginning in early 2020 could have pushed even more unit owners to convert their residences into Airbnb units.
With only 15% local owners, 5% belonging to the developer and 80% of the units bought by foreigners predominantly from China and Taiwan, many owners have been unable to visit their “home away from home”, explains the developer.
Gan adds that during pre-pandemic times in 2019, THE FACE Platinum Suites, in its entirety, was operating at an average of 98% capacity. That dropped to 90% in 2020, albeit still an impressive achievement.
Both residents and guests alike are able to access all facilities such as the infinity sky pool, sky lounge and the gym on the rooftop on Level 51. Other amenities include a restaurant, cafe and bar, multipurpose halls, concierge and 24-hour security with CCTV feeds.
“The building management implements sophisticated security and access control systems that come with extensive CCTV coverage to ensure its residents enjoy a safe and pleasant experience,” says THE FACE Platinum Suites JMB chairman Joey Leong Yu Joe.
He was also impressed by the high-quality fixtures, furnishings, efficient use of space, as well as the extensive list of amenities offered.
According to the property management team, the JMB and the team have over time fine-tuned their workflows and procedures to improve the quality of work and to prolong the lifespan of the equipment used in the building.
This has led to vital cost-savings for tenants and residents alike, a boon especially during challenging times.
Technology has also proven to be vital during times of crisis and PV has stayed on top of things with the PV Homes App. The app allows for efficient owner-tenant management as well as easy dissemination of information. In future, owners will be able to make online payments as well as invite and pre-register guests.
“We are now aiming to hand over the keys to owners of the second phase, THE FACE Victory Suites by the end of 2021,” says Gan. Similar to Phase 1, it will consist of fully-furnished serviced residential units and a hotel.
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