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 Pacific Place @ Ara Damansara, buy with only RM3.1k booking! 100% loan

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rakyat
post Jul 13 2010, 05:22 PM

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QUOTE(lainux @ Jul 13 2010, 01:16 PM)
Just curious why isn't more ppl interested in this prop?
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Coz this is a 'punt' for flippers & speculators.....

There is no approval yet for the project, leasehold in a place filled with freehold highrise, built on landfill, Jaks is not a reputable developer (they r Toyo's crony with questionable financial)

But those that want to speculate the entry price is low (RM3k) and the pricing is low (RM320 psf vs. RM450 psf)
rakyat
post Jul 14 2010, 09:47 AM

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QUOTE(0106127 @ Jul 13 2010, 10:09 PM)
i personally not going to invest in this prop.
for own stay maybe suitable.
the pricing and location factor is not great.
there are many "abandon" units in that area.
it will need 5 years to fully occupy.
the return on investment wont be great too.
and its a leasehold with commercial title, it will be difficult to flip.
and as for the college, shopping and LRT, its is just developer promise.
how well and if it really materialize is still questionable.
these "facilities" can be an eyesore.
the developer is trying to sell with 3.1k down payment. maybe the developer have already mark in 10% extra margin to give low  down payment and discount.

with this i can only conclude that there will be little upside potential.
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I think the college (SD already 'promised' in their Oasis launch) and shopping centre (100% Citta mall under construction) is quite solid although it is not Jaks effort but SD's
rakyat
post Jul 15 2010, 09:57 AM

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QUOTE(0106127 @ Jul 14 2010, 10:17 PM)
even if the citta mall is under construction, what guarantee that the mall gives>? who will rent the mall out to? who will be the tenant>? it can be another under use white elephant.

and if that happens, then all property will be selling below developer price.

and as for the college? any confirmation? which college? how many students? what course? when start operational?
any lease, sales agreement to show proof?
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This is where the risk vs. reward come into play and where the investor must do their due diligence. If these factors were 'guaranteed' then I think most small timers do not have the chance to buy, sold out b/4 soft launch.

Personally, I do not think that Citta will be a 'white elephant', will not be a Sunway P or 1U but a nice uptown neighbourhood mall similar to Tropicana City/Ikano/ Empire. I would bet Jusco will be interested to get a foothold there since there is a sizeable Japo community.

As for the college, I recall there is already some confirmation (seems like it was APIT or HELP or some nursing college, cannot remember but definitly a college).
rakyat
post Jul 20 2010, 02:03 PM

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QUOTE(0106127 @ Jul 20 2010, 01:47 PM)
it lack a community size mall because the catchment area is so small.
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Actually the catchment is not small - ara d'sara, subang 2, subang jaya, ttdi shah alam even bkt jelutung, d'sara perdana & kelana jaya. It is just that the commercial area is fairly new and cannot compete with the established areas YET.

Well those that are vested in the area hope that it will catch up while naysayers hope that it will die......

I suspect Citta Mall will deliver much like Ikano as the demographic in the area (minus PP) is largely upper middle class. SD also plan to move most of its offices to the area.

This scenerio remind me of SS2 5-6 yrs ago where ppl argued that a RM180k condo cannot make it there, there is too many highrise already, no-one will go to a SS2 mall... Last I heard they are selling RM1.5 mil 5 Stones

Let revisit this post in 2 yrs time and gloat

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