5xx sqft. I know the $psf is high. but my exit strategy is acquisition by Ascott.


still got unit available?

This post has been edited by noblebaby: Nov 19 2013, 04:44 PM

thanks for sharing.

Assessed the project before as u can see earlier threads I asked many questions but could not overcome the RM900+psf price hurdle, especially compared to the current "subsale" selling price of the serviced apartment within the same project

Day time look

For this, you need to sell it back to developer, not to public.

This is why the developer to sell first @ Singapore.

Why the one in klcc got the ascott brand?
I saw today from afar that the green net has been removed

This post has been edited by shinebr8: Nov 19 2013, 11:26 PM

Which one in klcc?

Near MO

I think that one is Ascot KL. Under Capitaland got Ascott, Somerset, and Citadines. But I dunno what r the differences lah.


Attached thumbnail(s)

The mall will only b ready by Q3 2014. Zzzz

Q3 2014? Disappointing... IOI Resort City Mall would have probably opened first..

This is according to insider...

Why the mall so damn slow

duno ler... told me Q3 2014 few days ago. zzzz

400, 000 sqft Mall!

P1 Floor



LG Floor



G Floor



UG Floor



2F Floor

Tell the developer, time is money !! especially in Cyberjaya

Don't think they will be interested to acquire back after a certain period. This comes from experience as I am currently in the IT hospitality business. For the projects that I handle, hotel management companies usually sign a long term contract with the building owners to manage the place. Same like what we have here, where Ascott will manage the hotel, on a 5+5 year contract that they sign with the individual unit owners.

Even for existing or refurbished units, the hotel management company won't acquire but rather, sign lease contracts with the owners. There are a few examples of serviced residence within the city centre, or to be specific, near KLCC and also along Jalan Bukit Bintang, where I have projects that are based on such practices.

RM900+psf is indeed on the high side. Can easily back calculate to see the feasibility. Assuming a 6.5% GRR from the price of RM470k. That will yield RM31k per year, or around RM2,600 per month. Based on the current hotel/resort pricing of Shaftsbury Residence, Primera Business Suites, Pullman Putrajaya and Putrajay Mariott, a reasonable price will be RM230/night upon launch. Assuming a decent occupancy rate of 60%, that will be 0.6 x 30 days x RM230 = RM4,200.

The gross profit is RM1,600. If you calculate the housekeeping maintenance, electricity bill, hotel/resort maintenance(sinking fund), staff salary, sales & marketing and others, nett profit will be really low and not much.

Doesn't look like a solid, sustainable plan, to be honest.

every one is relying on them now. haha.