Buyer of the land know they need money they sure press price even further down. Standard pattern.

it just takes 1 financer to snap...to pull back the facilities...or just refuse to negotiate more terms...and they will be so screwed. carrying a few bulls on their backs but walking on glass slippers.

This post has been edited by HarpArtist: Mar 29 2016, 11:30 PM

i think ec will be completed lah.
just scared internally a lot of cost cutting and short cut.
a case of too big to fail and too late to fail. visually, it looks almost there.
the last push would indeed be difficult coupled with many saboteurs (maybe suppliers and contractors who did not received payment).
hope they do.
we shall find out in a year or so.

Maybe Manyak contractor and supplier cannot get the payment. Cash flow stuck kao Liao until go last option go loan shark pinjam duit to keep their biz run... End up Manyak wear grass run road.

Macam X the mines boos the CB dato. Outside public see very good on media but at the back manyak CB sh*t. manyak supplier and contractor eat sh*t. At the end those manyak kena wear grass run road. My friend's uncle is 1 of the supplier to them. Also wear grass run road Liao for 10+long years until now belum balik

This development after vp maybe will have few explosion and free fall lift macam their previous project.

This post has been edited by HELLO HELLO: Mar 30 2016, 09:31 AM

I think a lot of people know it will be completed. Is all about test of holding power.

By the way, the main support and structure already done. The most expensive part is the interiors. How they going to get money.

Already there is auction unit. Confirmed no bidder last round, it will be another round of auction with lower price.

Sad.. sad.. haha

ah... u sure the interior is the most expensive part???

Was at Empire Mall at Subang Jaya. I believe it is still run by the same ppl who are involve in this Empire City @ Damansara Perdana.

Empire Mall, although it is fully occupied with many people. The facilities are so rundown. There are no proper maintenance. Pipe leaking and toilets r deteriorating. Can see that they dun hv money to maintain this mall especially since EMPIRE CITY is also in bad times now

6 towers vpd, are completed.

Only their mall is work in progress, has nothing to do with buyer.

Where are the bbb? if they don't support the market, it may have negative impact on their holding.

Will subsequent auction sale (of other foreclosure units) start with lowered price?

This post has been edited by icemanfx: Mar 30 2016, 12:38 PM

bbb already channel there money to UK buying battersea as received advise from u last year.....u forgotten ah???

ah long long time stop lending them money lorrr.. ahlong also got due diligence one..

Buying a property shouldn't be this difficult...

but the Empire subang soho maintenace fees just raise up almost double , they should have sufficient funds to maintain the mall now if the money goes to the correct parties.

This post has been edited by Giant: Mar 30 2016, 02:07 PM

in their defence they are certainly not the only dev trying to kick 10 balls with half a leg. plenty of others are also screwing with their contractors payments. but this project overly high profile, huge footprint and d boasting followed by strong arming has made the s*it hit the ceiling. i so would not like to be a meh staff right now..

What is the holding cost of EC2 land?

Its like margin trading, wont be surprised the sale proceeds of EC1 and Remix would have gone to pay for the EC2 land and other land, therefore causing cash flow issue, in the booming market this is not an issue as psf is ever increasing but in a stagnant or failing market, unless sales price psf of new project could be much higher than EC1 and remix combined, otherwise its difficult to pull off both project.

Remix is in a more difficult position, as EC1 could determined success of EC2, which in turn carries more weight.

yes, always the most expensive. unless it is totally bare like low cost housing. then it is cheap.

EC 2 punya land no way they can sell , actually meh already using most of their land in Damansara included the completed project to refinance from bank , if they unable to pay up , all the land will go for auction, don't ask me what will happen to the units above the land , I also wish know that

This post has been edited by Giant: Mar 31 2016, 02:14 AM

I would think that the current state of the building may also be reflective of the poor built quality.

This post has been edited by urbanite: Mar 30 2016, 05:15 PM

Pure greed. The longer this thing drag on, the higher the accumulated interest of financing.