Victory Suites (The Face II)

The Face II is a genuine second tower, and its real name is Victory Suites. It is not a rebranding of an older building and it is not a marketing label attached to resale stock. Platinum Victory built two separate towers on the same 4.75-acre site on Jalan Sultan Ismail, six years apart.

Tower one is The Face Platinum Suites, also written as The Face Suites, completed in 2016. Tower two is Victory Suites, completed in 2022, which listing portals label “Victory Suites (The Face 2), KLCC”. The names come straight from the developer: Platinum Victory branded the first Platinum Suites and the second Victory Suites.

“The Face” is a third thing again — it is the hospitality brand operating hotels inside the buildings, run by The Face Hotels & Resorts Sdn Bhd. THE FACE Suites hotel opened inside tower one in January 2016. THE FACE Style, a second hotel with 327 rooms and suites, opened on 16 January 2023 inside the tower this page is about.

The practical consequence is money. When a listing blurs the two towers, the price per square foot, the age of the building and the facilities being described may all belong to the other one. Before you compare anything, ask which tower and get the answer in writing.

Yes, you can buy — but on this project eligibility can turn on which specific unit you buy. Kuala Lumpur applies a minimum purchase price of RM1,000,000 to foreign interests, and “foreign interest” is defined to include Malaysian permanent residents. That surprises a lot of permanent residents, so read it twice.

Now look at the numbers on this building. The developer’s official price starts at RM1,081,000, which clears the floor by RM81,000. But unverified listing-portal data as at August 2026 shows subsale units in this same tower being asked at RM900,000 — a hundred thousand ringgit below the threshold. The rule applies to the transaction, not to a launch price list, so the identical building can be buyable on one unit and legally impossible on another.

There is a second gate. A transfer to a non-citizen needs written state consent under section 433B of the National Land Code. In the Federal Territory that consent comes from the Federal Territory of Kuala Lumpur Land Working Committee (Jawatankuasa Kerja Tanah Wilayah Persekutuan Kuala Lumpur), applied for through the Federal Territory Land and Mines Office after the sale and purchase agreement is signed. Build that timeline into your offer conditions.

Then budget the money. Since 1 January 2026 a non-citizen buying residential property pays a flat 8% stamp duty on the transfer instrument, with no tiering and no first-home relief. On exit, RPGT for non-citizens and foreign companies is 30% within five years and 10% from the sixth year onward, with no zero-rate band ever. Foreign buyer loan margins are typically 60 to 70%, so plan the cash, not just the price.

Tell me your nationality, your residency status and the exact unit, and I will check the agreed price against the RM1 million line before you pay anything.

Do not assume that, because assuming it is how buyers get an unpleasant surprise at the transfer stage. Platinum Victory publishes the land title as Commercial Strata and, in the same breath, describes the building type as a Service Apartment. The market treats it as a service residence.

The tax rule cuts against the comfortable reading. From 1 January 2026, a non-citizen buying residential property pays a flat 8% stamp duty on the transfer instrument — flat, no tiering, no first-home relief — and the Finance Act 2025 expressly lists service apartments and SOHOs as residential. A commercial land title on the master document does not automatically take a service apartment outside that definition.

There is a separate rule running the other way, and it is not a comfort either. Under the Ministry of Economy guideline of 13 July 2022, paragraph 4, commercial property held by foreigners must be registered in a Malaysian-incorporated company. If a parcel here were treated as commercial for that purpose, a foreign individual would be looking at incorporating and maintaining a Malaysian company, with all the cost and filing that implies.

So you may be facing the residential tax rule, the commercial holding rule, or an interaction of the two — and which one applies to your specific parcel is exactly the question that needs a lawyer rather than a website. I am a property agent, not a tax adviser, and nothing here is tax advice.

The instruction I give every buyer on this building is the same: before you sign anything or pay a booking fee, put the title extract and the draft sale and purchase agreement in front of a Malaysian conveyancing lawyer and ask for a written opinion on which regime applies. That opinion costs a fraction of the stamp duty it might save or cost you.

A licensed operator does run hotel operations in this building, and it openly sells third-party management services — but the terms on which an individual owner could participate are not publicly disclosed anywhere. Those two sentences have to be held together, because most of the sales talk you will hear collapses them into one.

What is published: The Face Hotels & Resorts Sdn Bhd, 201701046807 (1260983-U), operates THE FACE Style inside this tower — 327 rooms and suites, opened 16 January 2023 — and lists its management services as operations management, sales and marketing, revenue management, financial management, human resources management, and property maintenance and renovation, framed as ensuring “that the property is well-managed, profitable”. That is the visible mechanism by which a unit might enter a hotel pool.

What is not published, by anyone, anywhere: no guaranteed rental return, no rental-pool yield, no participation rate, no term length and no fine print at all. There is nothing for me to show you and nothing for you to rely on. If a salesperson quotes a pool return, the correct response is to ask for the executed management agreement and read the exit clause, the fee stack and the reporting obligations before anything else.

One more distinction that matters legally. A licensed hotel lawfully operating in the building is not the same thing as an individual owner short-letting a private strata parcel. I have not verified that short-term letting is permitted for owners here, and I am not going to tell you it is. Read the management corporation’s house rules and read your own sale and purchase agreement, and if short-letting is central to your plan, get a lawyer to confirm it in writing before you buy.

The observed evidence is thin but consistent, and it points to roughly RM5.40 per sq ft a month. Everything in this answer is unverified listing-portal data, not official figures, and you should treat it as a starting point for your own checking rather than as a fact.

As at August 2026 there were only three rental listings for this tower on the portal, of which two are genuinely Victory Suites: a 1,189 sq ft two-bedroom at RM6,400 a month and a 1,190 sq ft two-bedroom at RM6,500 a month. That is about RM5.40 per sq ft in both cases, which at least means the two data points agree with each other.

Now the arithmetic. Take roughly RM6,450 a month against a roughly RM1.6 million asking price for a comparably sized unit, and you get about a 4.8% gross yield. Gross means before the service charge, before the sinking fund, before furnishing, before vacancy and before any management fee. Every one of those comes out of the 4.8%, and I cannot tell you by how much because the maintenance charge for this building is not published.

Against that, live agent listing headlines for these towers advertise things like “ROI 11%” and “operator profit 8k”. I have seen no substantiation for those claims and I am not repeating them as fact — they are unverified marketing claims, nothing more. The gap between roughly 4.8% observed and 11% advertised is the most useful honest number on this page, and it is the question to put to whoever is quoting the 11%: show me the leases.

Be honest about the limits of my figure too. Two rental listings is a very thin sample, and one asking price is not a transaction. Before you commit, get the actual tenancy comparables from the management office and the last transacted prices, not the asking prices.

Use the developer’s figure: 1,028 units in one block. That is what Platinum Victory publishes on its own project page, alongside a development area of 4.75 acres. A listing portal instead describes the building as “354 exclusive residential units alongside hotel suites”. I cannot reconcile those two numbers, and I am not going to publish a theory as if it were a finding. What I will say plainly is that the developer’s figure is the one to use and the portal figure is unexplained.

On competition, the picture is unusually easy to see and worth looking at squarely. Unverified portal data as at August 2026 shows 34 units listed for sale in Victory Suites, asking RM900,000 to RM2,950,000, which works out at RM857 to RM2,022 per sq ft — a spread so wide it tells you the market has not settled on what this building is worth.

Then add the neighbour. The Face Platinum Suites, the 2016 tower on the same site, has 71 units listed at RM500,000 to RM1,450,000. That is 105 competing units across the two towers on a single portal, plus the 327 hotel rooms inside your own building competing for short-stay demand.

For the wider market: NAPIC’s first quarter 2026 figures for Kuala Lumpur record 3,733 units of residential overhang and 4,181 unsold completed serviced apartment units. Completed unsold stock is what caps both prices and rents, and it does not clear quickly.

None of this makes the building unbuyable. It does mean the price you pay is the only variable you control, and that in a market like this one, buying well matters far more than the brochure.

Because the developer publishes fifteen floor-plan sheets with no type codes, no areas, no bedroom counts and no floor levels on any of them. That is not a criticism dressed up as a fact — it is simply what is on the website. Eight of those sheets appear on this page, numbered S1 to S8 by me for reference only; those are not developer designations.

The only size information Platinum Victory publishes anywhere is the envelope: 560 to 2,455 sq ft. There is no labelled layout schedule, no facilities-by-level plan and no storey count. So from the official material alone, nobody — including me — can tell you that a given drawing is the unit you are being offered.

It gets more confusing when portals join in. One states a built-up range of 550 to 1,195 sq ft for this building, which is contradicted both by the developer’s own 2,455 sq ft ceiling and by live listings that already include a 1,625 sq ft three-bedroom. When two sources disagree and one of them is a portal, use the developer’s.

The fix is straightforward and it is the same on every completed strata building in Malaysia: get the strata plan for the specific parcel, with the parcel number and the certified area, and match it line by line against the sale and purchase agreement before you agree a price. Do not accept another unit’s drawing as a proxy, and do not accept a square footage quoted verbally by anybody, me included.

It is a genuine, daily condition of ownership, not a footnote. THE FACE Style opened here on 16 January 2023 with 327 rooms and suites, with its rooftop infinity pool and gymnasium on Level 51 and the DEEPBLUE rooftop tapas bar beside that pool. Its published room types run from a 455 sq ft Superior King up to a 1,625 sq ft three-bedroom deluxe — which is to say, hotel inventory that overlaps in size with the apartments.

On the plus side, a professionally run hotel in the building usually means the public areas are maintained to a standard, there is a staffed presence around the clock, and the address stays visible. Those are real benefits, and they are the reason some owners specifically want a building like this.

On the other side: lift traffic, luggage, housekeeping trolleys, a rotating population you will never get to know, and shared circulation at the times you most want quiet. If you are buying to live here, spend an hour in the lobby on a Friday evening before you decide. If you are buying to let, understand that those 327 rooms are competing for exactly the short-stay demand your unit would chase.

The most important caution is legal rather than practical. A licensed hotel operating lawfully in the building is legally a different thing from an individual owner short-letting a private strata parcel. The hotel’s licence is not your permission. I have not verified that owners here may short-let, and I will not tell you they may. Read the management corporation’s house rules and your own sale and purchase agreement, and if the answer matters to your plan, have a lawyer confirm it in writing before you buy.

Finally, ask what residents are actually entitled to use. The developer publishes only two common facilities for this project. The Level 51 pool, gymnasium and rooftop bar are the hotel’s, published by the operator — not a residents’ schedule.

It depends entirely on what you are optimising for, so here are all four with their strongest and weakest points side by side, rather than a ranking that pretends there is one right answer.

SO/ Kuala Lumpur Residences is the finished one. Completed August 2025, handover from September 2025, freehold, 590 units of 566 to 995 sq ft. You can walk into it today and inspect the actual product rather than a rendering. If certainty about what you are buying is what you care about most, this is the one that gives you the most of it.

Conlay by E&O is the largest and most expensive. Freehold, 491 units, from RM1.46 million, with a Bursa-listed parent behind it — which is the strongest corporate covenant of the four. The counterweight is documentary: its published advertising permit expired in 2022 and its permitted completion date has passed. That is a question to put to the developer directly, in writing, before anything else.

Victory Suites, this project, is the cheapest entry. Official price from RM1,081,000, completed 2022 and still selling four years later, freehold but on commercial strata title, 1,028 units in one block, with a 327-room hotel operating inside the same tower. It is the most accessible of the four on price and the most complicated on structure — the RM1 million floor sits uncomfortably close to the subsale asking range, and the commercial-versus-residential question needs a lawyer.

Royal Lexis Kuala Lumpur is the one nobody can yet evaluate. No price, no permit, no completion date and no unit count has been published. That is not a criticism of the project; it is a statement that there is nothing there to assess. If someone is pushing you to commit to it today, ask them which of those four things they can show you.

My honest summary: buy SO/ if you want to see and touch what you are buying; look hard at Conlay if you want scale and a listed parent and you are prepared to chase the permit question; consider Victory Suites if entry price is the binding constraint and you will pay a lawyer to settle the title question first; and wait on Royal Lexis until there is something published to read.