Small unit only bro. Cannot afford big one..hehehe

[quote=CMW123,Jul 13 2013, 09:20 PM]
About 200 people attended the event...

Okay food with wine thrown in...

Mah Sing assigned a presentor (not the COO) who is IMHO not with strong presentation skill n didn't demonstrate passion n energy...

Key selling points from presentation:

1. Good location with several future traffic enhancement
2. Only Tower 1 and 2 are pure residential (exluding the Sovo), total 500 plus units to meet demand form the many offices there, almost fully sold . Asked what are the big name companies n answer was yet to be informed by management. Only shout about was MS HQ will be there
3. All the 30 Jewels fully sold
4. Rental rate can fetch...RM5 psf like Bangsar South. Is it true BS this rental rate? Can Icon City fetch this rate in future?
5. Asked in Phase 2 who is the Hotel operator, answer was not confirmed yet. Think of it, MS actually has no success example of retail. Tropicana at least has one Tropicana City Mall. Glomac also tak ada...
6. The presentor said this is a project with high visibility, can you find any other 20 acres integrated development along the federal highway? Nobody answered. So is it correct?

I-City at Shah Alam is 72 acres integrated development along the Federal Highway. I think it is much better than Icon City since there is a huge shopping mall Central Plaza ready in 2016.

[quote=itkaki,Jul 16 2013, 10:21 AM]
[quote=CMW123,Jul 13 2013, 09:20 PM]
About 200 people attended the event...

Okay food with wine thrown in...

Mah Sing assigned a presentor (not the COO) who is IMHO not with strong presentation skill n didn't demonstrate passion n energy...

Key selling points from presentation:

1. Good location with several future traffic enhancement
2. Only Tower 1 and 2 are pure residential (exluding the Sovo), total 500 plus units to meet demand form the many offices there, almost fully sold . Asked what are the big name companies n answer was yet to be informed by management. Only shout about was MS HQ will be there
3. All the 30 Jewels fully sold
4. Rental rate can fetch...RM5 psf like Bangsar South. Is it true BS this rental rate? Can Icon City fetch this rate in future?
5. Asked in Phase 2 who is the Hotel operator, answer was not confirmed yet. Think of it, MS actually has no success example of retail. Tropicana at least has one Tropicana City Mall. Glomac also tak ada...
6. The presentor said this is a project with high visibility, can you find any other 20 acres integrated development along the federal highway? Nobody answered. So is it correct?

I-City at Shah Alam is 72 acres integrated development along the Federal Highway. I think it is much better than Icon City since there is a huge shopping mall Central Plaza ready in 2016.

[/quote]


I-City at Shah Alam is 72 acres integrated development along the Federal Highway. I think it is much better than Icon City since there is a huge shopping mall Central Plaza ready in 2016.

To me each development has its pro and cons. Despite many criticizing and arguing, i still rate this as a good buy. Let me share with you my insights as follow and ultimately it is up to each individual's preferences.

Pro's

1. Priced at only RM 830psf. You have edge over 1st tower which was priced at RM 1000psf++ Price for mixed development around the vicinity is definitely much higher. Tropicana Garden RM 1200psf, KL Eco City RM 1400psf, Tropicana Metro Park - 700 - 800psf, Subsales Tropics at Tropicana Mall 800 - 900psf, Icity 500psf??
Bear in mind, I am not saying that Icon itself will stand out tall among others but their asking price is definitely less ambitious, 3 years down the road.

2. Limited units. You have less competition. Total residential unit is only 500+ unit sitting on 20 acres. The rests are hotel, office and retails.

3. Rental target - Can target people from office tower, shopping and retails. For commercial, RM 5psf is doable. Bangsar South already asking RM 6.50psf

4. Mixed development - Hotel in making (4stars) + Office Blocks and Shopping Complex - Phase 2. This allow you to have more room for capital appreciation. Imagine if Mah Sing reverse the sequence buy building Office, Hotel and Shopping Complex first, what do you think is their asking price? Definitely higher than now! By the way, PJ and Subang area is short of 4 stars business hotel.

5. Freebies, 5% discount, DIBS and SPA and also loan agreement is paid.Almost zero entry cost except your 5% down payment! If you consider the freebies and work back, the asking price psf is even lower!

6. Good accessibility with dedicated ramp and underpass. Furthermore Icon sits in intersection of 2 major highway and with seamless access from both LDP and Federal highway, your market catchment is definitely wider and bigger.

7. Icon is Mah Sing's flagship development. With gross development of RM 3.2 bio, they cannot afford to fail. Their HQ will be moved here.

8. Lease has been renewed to 99 years ending 2111. Was confirm in written by Mah Sing.

9. No studio unit. Min size comes with 676sf with 2 rooms. Big Central park with dedicated drop off service.

10. Phase one is sold out except Creative Tower, 70% booked as of last week + some biggies from first tower

Cons

1. Situated next to flats. Though the flats are rumored to be allocated, not written confirmation yet. To me this is less relevant as the development itself is self sustain. Unless one is referring to pocket development, surrounding plays more important roles.

2. Lease hold

3. Unimpressive show unit especially compare to Dijaya!

4. Poor marketing

5. No proven record for retails and hotel as compare to Dijaya and SPS.

jucl kor, how you compare this Icon PJ with i-Residence or i-Soho at i-City Shah Alarm ? I-City is freehold and with shopping mall leh..

Icity is actually selling at RM600psf+ and not RM500 psf.

Icon City location would be better because in PJ and nearer to KL wherlese Icity is in Shah Alam

Also Icity with the much much higher number of residential units supply, higher competition



This post has been edited by CMW123: Jul 16 2013, 02:04 PM

Hi jucl, based on the points above, roughly how many remaining units (2 bedrooms or 3 bedrooms?

Thanks CMW123 kor for your good insight. Due to the limited budget, I only afford to invest in I-City as it is only RM300,000 for the i-Soho. Hope I made the right choice lah..

Both also got shopping mall. Maybe I-city bigger not sure but Icon city will have approx 1mio sf retails, almost size of paradigm mall.

Creative tower has approx 300 units and if 70% is booked, u still have 90unit available, both 2 n 3 bed rooms.

Icon City is worth going for those who have bullet to shoot for a location in Petaling Jaya.

The access roads and infrastructure will be very crucial.... for example the ramps and will be good if Mah Sing can build a bridge to the nearby KTM which will be connected with BRT to Sunway.

By the way, I heard rumours they are looking at mrt station line 3 to pass at Icon (petaling Jaya selatan station)

Mah sing has a sales gallery in singapore, showcases icon city n m city. See got singapororean buy anot....

No matter how great the access road, it still tie down to the surrounding jam area.

Really meh?

Brother, 9seputeh vs Sungai Besi location?

Eyeing highrise...

Wah so fast enter ... I tot u comparing Creative Tower with Sunway GEO.

Anyway, It would be a good buy. Hehhehe

my personal choice is old klang road better

Boss, check this out

I think the MRT to Klang is now the MRT to Serdang.

Going to Klang will be from Kelana Jaya/Ara Damansara LRT. But who knows lah...