QUOTE(kemc1120 @ Oct 29 2010, 06:16 PM)
Dear friends of Park Avenue 1120,
Most of us has signed the S&P for a year now but, the actual construction progress is not a good sign at all.
I am working oversea and came back for a few days and was shocked when I visited the site last Saturday (23/10/10). The progress is so little for a whole year and now this left only two more years to complete the construction - it is running short of time!!!
Can the project complete in the stipulated time?? How will it affect the 18 months of payback by the Developer after handing over the keys??
I could not find time to go to the developer's office. Would appreciate if some concerned future owners will go and get a copy of the 'WORKS PROGRAMME' from the developer's office and post it in the forum. Everyone will be able to track the progress of the project. FYI - a works programme is a master plan of the project and in it, the schedule progress is indicated with targetted dates. With this, we know if the consstruction is on schedule or way behind schedule (which will be a big concern to all buyers).
I think the piling works now completed is a miseable <10% of the whole project. Don't talk to the developer over the phone, get the document - WORKS PROGRAMME.
We need to be concerned now and hope everything's gonna be alright.
Thanks for the ones who cares to post the wroks programme in the forum.
Once again, Thanks
Regards,
Kemc1120
p.s. - I am a new user of this forum. Have tried a few times to send a posting but failed. Hope this time is ok.
Hi Friends of Park Avenue 120,
Guess we still have not got one volunteer to get and post the works programme in the forum. Hope to see one soon.
I note that some are anxious to know who their neightbors are and some are not too worry as we still have two years of construction period. Frankly, i am not so comfortable with the progress. Given 3 years of construction time, one year is gone. The progress should be at least 30% completion ( 1 over 3 yrs). Actual progress is no way near. It is a bit worrying to complete 3 years work in 2.
I hope the completion of Park Avenue will be in time. God bless us that we will not encounter like what has happened to the project near by -PJCC where the project was totally stopped after completing almost 90%. Poor purchasers of that project ended up tied by bank installments but has no possession of units purchased (imagine 90% of loan from banks would have been paid out and charged to borrowers). If there is trouble (i say "if"), better have it early. The banks will not have paid out too much yet on our loans and hence our debts to the bank.
Hope all goes well. Cheers.
kemc1120