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Investment THE WHARF PUCHONG [OWNERS' THREAD], The new Puchong downtown begins here

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runflat
post Mar 20 2012, 06:09 PM

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Very interesting to see all recent developments in southern puchong. Lifestyle homes, lake facing homes etc, some hitting even >1mil.

N then v see more n more highways n infra to connect n support them.

Most interesting is d discussion here bout shopping malls. Some here very gang ho that new shopping malls will help make nearby developments prosper greater. I beg to differ abit lo. Coz I enjoy going around malls with my gf.

Few examples
Ss2 mall - imo, a failure though in heart of Ss2. The tenants r mostly unknown n no anchor tenant.

Curve - even up todate, only the fnb section is doing ok. Rest of d mall, not lively. Even after 4yrs? Occupancy is not v great on top floors.

E@curve - speechless.

Publika - great concept but lots of unknown shops on top floor n so so occupancy.

Citta - very very low occupancy. Supposed to b d mall to service ara dsara

One mont kiara - u kidding me?

Hence, I think malls not for sure good wan. Ppl still will travel to hot malls like 1u, mvm, pavilion. 1u has 4 anchor tenants!! Where to find?

Better do shop lots but with concept. Look at Solaris :-) packed!

But I can't really find renderings or on plan d mall in wharf leh.. Kenot be no 3d if open for reg? I think wharf mall is like Solaris le..


runflat
post Mar 20 2012, 07:49 PM

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QUOTE(ace77 @ Mar 20 2012, 06:19 PM)
I hope u all don't expect this place to those above. The income level, quality crowd and inner areas don't really fancy any retail development at all
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Agree! If u n I can see it, takkan boss of bolton can't see it. Also explains y millennia mall kept delaying
runflat
post Mar 20 2012, 08:33 PM

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QUOTE(nkhong @ Mar 20 2012, 08:05 PM)
I do expect the place wil become happening like those above. Probably i wont few years ago. But look at property above 500k, even above 1m are selling well around this area. I do think south puchong might turn to another hotspot. Quality of crowd is improving fast.
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gd to be optimistic but reality is now in KV, there is serious oversupply of retail space. Read the latest PMR smile.gif

Look at IOI mall, so many yrs alr and we have lake edge, mutiara indah, bdr puteri around it. All these r high-end puchong props. Do we see IOI being as happening as compared to the nearest sunway resort?
runflat
post Mar 20 2012, 11:57 PM

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There is a thin line between happening vs crowded. IOI is crowded, not happening imo. N im not comparing size here too..Even b4 pyramid had its new wing, it wasnt that big either, but it was crowded + happening.

My point of view - If u think there is demand for malls in Puchong, y ioi boulevard n setia walk instead of big malls? u think TS liew and TS Lee dun know the market better than us here? simply becoz demand, profile of puchongite generally etc etc cant sustain the viability of big malls.. what more southern puchong. Hence it MAY not be oversupply of retail space in Puchong if u wanna argue, juz simply demand cant even match additional supply imo.

N has any1 here has any sort of rendering or drawing of the whaft 500ksf mall? im seriously curious how its gonna look. Isnt open for reg as per their web??? Asking us to reg even without knowing how it looks like?? hmmmm...
runflat
post Mar 21 2012, 12:26 AM

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QUOTE(davkong @ Mar 21 2012, 12:15 AM)
I think it's not about demand, but the term is lifestyle. Big box conventional mall vs lifestyle centres (IOI Boulevard and SetiaWalk)...
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agree! thats exactly what i said earlier - shops with concept aka lifestyle.

But some bros here said its a 500k sf mall in wharf. So is it a mall of juz shops now??? Asked for images but not getting any reply.. sad.gif
runflat
post Mar 21 2012, 12:37 AM

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QUOTE(Apscen @ Mar 21 2012, 12:28 AM)
When there is population there is demand, simply as that. It is funny if u question why IOI boulevard not mall? how u wan a mall with that tiny land? Why setia walk not big mall, how much money sps make fr selling d 4 blk service aprtment and d shop lot ? While keeping some land for a small mall...sps make big buck while still gain some rental income fr this, that's all about location, strategy and profit on deciding a development.

Wharf are not competing to some big mall, no point keep arguing about d size, it will sustain with good tenant and it will not sustain even if u put it in where 1u is now with econsave, fajar, ah beng electric, kamdar.......
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SP could have built the serviced apartments on top of the mall i.e. tropicana city mall - if they were confident enuf to build a mall, that is.

Its all about GDV in the end bro - more retail space (mall) + serviced apts VS less retail space (shops) + serviced apts.


runflat
post Mar 21 2012, 12:42 AM

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QUOTE(davkong @ Mar 21 2012, 12:30 AM)
Im not familiar with The Wharf, but if it's any indication, SetiaWalk with retail shop lots plus a 300k sf entertainment centre which houses the cinema, gym, karaoke and a few retail lots is classified as retail mall (based on this article http://biz.thestar.com.my/news/story.asp?f...0&sec=business)
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Hmmm...it would be most prudent if Wharf mall is something like it... smile.gif imho
runflat
post Mar 22 2012, 02:56 PM

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QUOTE(ppfoong @ Mar 22 2012, 12:28 PM)
Do u think that http://thewharfpuchong.com created by Tee Kah Yeow who stay in Tropicana Home Resort is the "official"?

I have already told u that the article there is old. By that time, the plan was like that, but by this time, the plan is no longer like that. Even the position and look of the 3 service apartments also changed from that plan. And to show u what u are doing is ridiculous, I say if u want to argue, why don't u take an even older information to show the mall is ridiculously not exist at all.

If u want to see the thing, don't sit behind the monitor. Go to the sales office and see the 3D model. I am not Bolton sales and I have no interest to show u the info, u have to find out urself.

If u can really proof that I am wrong, sure I will accept. But don't mislead people when u are confused, and don't argue like u know the very detail but based on old information.

Anyhow, I already mentioned the mall is just a plus. Tesco is nearby and already under construction. Resident at the Wharf can buy grocery within walking or cycling distance. Probably they can have some chill and drink outside the mall downstairs too.
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Ah heng n ah foong gor, any1 of u have any renderings of the mall? I have asked many times but dun seem to get reply. Even if the article is dated, it can't be bolton not providing images of d mall n asking public to register??? If that's true then d whole marketing dept should be fired as we speak now!!

I blif the mall is gonna b some sort like setia walk or boulevard. Can't be an actual mall by real definition. I can only imagine shops like kk mart, 99 speedmart, kedai dobi halim, syed abu mamak, ah hia hardware opening there if u can show us the rendering of the real mall..

Have a cuppa down the mall? In this location, tough. Teh tarik kurang manis better chance


Added on March 22, 2012, 3:03 pm
QUOTE(Bahkuteh @ Mar 22 2012, 07:28 AM)
If its confirm a IOI boulevard concept,then there won't be a jusco right? And it won't be like Empire Subang! Too much of false hope and misrepresentation earlier,just want to clear the air.
I hope ah foong understands now. Take ur time to study the plans,don't assume and syiok sendiri too much. If not later on u saja frus.
Another point,don't think it's so easy for shops to take off here.v serious competition from bandar puteri cbd. Even existing shops here also setengah mati.
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Bro..dun talk bout shops here. Ioi boulevard upstairs already half dead. Setia walk still very empty, though jus opened not too long. What residents in this part of puchong need is free standing hypermarkets I.e carrefour n future tesco imho

This post has been edited by runflat: Mar 22 2012, 03:03 PM
runflat
post Mar 22 2012, 07:01 PM

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QUOTE(flipacoin2k @ Mar 22 2012, 06:17 PM)
+1

How many of you commenting here actually went to Bolton sales office to see the real deal before ? smile.gif The whole thing is there, drive there, and please talk to the Bolton SA to find out more. If they bullshit a lot then it is not the fault for the person who listens to share what he has heard with you all here, sharing is caring, but don't insult the kind person who is trying to share regardless of the source. 

You want to suspect and feel paranoid bout this whole deal, bring it to the Bolton SA, insult them there, but not here. Internet is lagging sometimes, you can't find all the A-Z info bout everything by just googling.
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Din have to travel so far just to see their scale model. They brought it to their road show in 1u same time when bkt utama 9 launched their block c.

I asked the sa (can't remember his name), he wasn't sure that time what d mall is all about. Dun blame him coz that time wharf only selling residential.

But now since they already started to open for reg for the mall, I'm just asking if any1 has any sort of drawings for it?? With d drawing, then v all will know what kinda mall is it right?

And bro, v talking bout 500k sf mall here with gdv 100mil leh, not 3yr old handphone on ebay. Mana boleh give lagging as excuse wei??
runflat
post Mar 24 2012, 11:14 PM

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QUOTE(ppfoong @ Mar 24 2012, 03:27 PM)
Hope that Bolton can make this a success.

With a lakeside mall 3 times bigger than Giza, all people around Puchong, Cyberjaya, Putra Heights, ... will have yet another nice place to go among the existing and upcoming.
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Seriously guys????? What kinda shops do u all expect to see here huh?


Added on March 24, 2012, 11:20 pm[quote=ppfoong,Mar 24 2012, 10:29 PM]
Haha...

Since most of the people are employees rather than bosses, one good indicator is how much salary your tenant will earn back home?

If ur tenant earn 5k net after EPF/PCB/SOCSO, 2.5k means 50% of the take home salary. If ur tenant earn 10k net after EPF/PCB/SOCSO, 2.5k means 25% of the take home salary.

U have to consider this as well: this place is consider near to Cyberjaya, and there is toll free road to access to Cyberjaya as well. Experienced executive in Cyberjaya can combinely (husband & wife) earn more than 10k without much problem. Managers in Cyberjaya can get that figure alone too.

However, also consider there are a lot of new residential units under development in Cyberjaya now. And however again, the price in the Wharf residence is cheaper than similar unit in new development in Cyberjaya, and I don't think Cyberjaya will be as happening as in Puchong. People working in Cyber will perhaps still prefer Puchong than staying in Cyber itself.

Calculation can't be done so straight forward imo. Too optimistic. Dun forget car loans, other hses loan, credit cards n other commitments

This post has been edited by runflat: Mar 24 2012, 11:20 PM
runflat
post Mar 25 2012, 10:16 PM

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QUOTE(ppfoong @ Mar 24 2012, 11:40 PM)
When a shopping mall was firstly developed in a new residential area rather than KL downtown, the same question had been asked too.

I'm referring to 1Utama.
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Judging from profile of existing ppl in and around this area, its gonna be something like another ss2 mall scenario.

Any opinions??
runflat
post Mar 26 2012, 12:17 AM

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Imo, they would rather have mamak Teh tarik than spending 15 bucks for Starbucks.

Its not all about income. Ss2 folks r $$ too. But the mall is dead.

More parking huh? Tats a nice one! Huhuhu


Added on March 26, 2012, 12:22 am
QUOTE(ppfoong @ Mar 25 2012, 10:39 PM)
Well, if the rental price is the same as SS2 mall, then the scenario will be very likely the same as SS2 mall.

Its all about management.
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Based on gdv 100mil, n dun forget to take into acc profit factor, how low can d rental b?

It takes more than just d mgmt

This post has been edited by runflat: Mar 26 2012, 12:22 AM
runflat
post Apr 20 2012, 04:13 PM

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QUOTE(ppfoong @ Apr 20 2012, 02:37 PM)
Latest news here:
http://www.selangortimes.com/index.php?sec...s-new-lifestyle

The mall, with a gross floor area of 506,510 sq ft and 1,296 parking lots, is scheduled for completion next year.

That will be before the service apartment complete. Good for the residents, by the time you move in, the mall is already up and running.
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hmmm foong, still biting hard on the mall huh?

Old story alr la, give us sumthing new pls will ya

 

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