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 EMPIRE CITY @ Damansara Perdana/Mutiara Damansara, Mixed Development Project in Damasara KL

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Giant
post Mar 20 2016, 07:16 PM

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QUOTE(Giant @ Mar 20 2016, 07:15 PM)
300sf X RM500 will be ok, still cheaper than flora
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Giant
post Mar 20 2016, 09:31 PM

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QUOTE(huaweie5830 @ Mar 20 2016, 08:04 PM)
so the mr.lim did went to wrong floor

lol

joke of the year just appear
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actually develoepr will learn after mr lim incident, all "VP" after today developer might bring the owners to this floor...
user posted image

and change the paper outside the lift to 17 E, 16E, 20 E........


Giant
post Mar 21 2016, 09:28 AM

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QUOTE(shinchan^^ @ Mar 21 2016, 08:56 AM)
how about the lift buttons? stick paper also? rclxms.gif
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you will surprise if you visit any lift @ the under construction building, they do not have proper buttons like the normal lift actually. some are really only stick paper on each buttons, i remember last time in ED thts a bangla sitting in the lift 12 hours just to help u press buttons.

If mr lim can provide the pic of the lift button then we can investigate that further, haha....

This post has been edited by Giant: Mar 21 2016, 09:28 AM
Giant
post Mar 22 2016, 02:22 PM

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QUOTE(lionelmessi88 @ Mar 22 2016, 02:18 PM)
Is the list updated once in a year?
If yes, then need to wait until 2017 only can verify  bruce.gif
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in 2017 MEH still around ? hmm.gif
Giant
post Mar 22 2016, 05:40 PM

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综合商场工地意外起重机倒塌压死1人

user posted image

this Empire is super lousy from financial, management, construction until safety.....


http://www.enanyang.my/news/20160113/%E7%B...D%BB1%E4%BA%BA/

This post has been edited by Giant: Mar 22 2016, 05:41 PM
Giant
post Mar 22 2016, 05:47 PM

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QUOTE(puchongite @ Mar 22 2016, 05:43 PM)
My goodness luck is not on their side. 屋漏偏逢连夜雨
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i personally believe it did happend inside too, but maybe those are illegal bangla, so got covered, but this is beside the highway, no way to cover.

This post has been edited by Giant: Mar 22 2016, 05:48 PM
Giant
post Mar 23 2016, 12:18 PM

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QUOTE(The Jedi @ Mar 23 2016, 10:28 AM)
dead chicken 250k (incomplete) - may need to spend 50k to make it habitable

dead chicken 250k (incomplete and structurally not safe) - investment will go down the drain and potential total loss
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bro that method maybe applicable on the landed master title, but for high rise building how u going fix the pipe burst, water leaking, common area, lift, facilitt, surrounding area.....

This post has been edited by Giant: Mar 23 2016, 12:19 PM
Giant
post Mar 23 2016, 02:04 PM

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QUOTE(HarpArtist @ Mar 23 2016, 11:11 AM)
so far none of their buildings has actually collapsed right  innocent.gif
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sorry i dont wish to digged out the past, but your reply remind me some of these...


user posted image

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Giant
post Mar 24 2016, 12:06 AM

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QUOTE(Time Walker @ Mar 24 2016, 12:04 AM)
this developer really gg...
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they are the real ”thor sui kar“ (拖衰家)
Giant
post Mar 24 2016, 06:13 PM

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QUOTE(satrianeo-x @ Mar 24 2016, 09:41 AM)
TOO BIG TO FAIL... I think it meant the BANK, not MEH
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I guess MEH wont let empire city failed at this stage, worst scenario they will just sacrifice EMPIRE Remix to complete this Empire CIty 1st, then try to launch Empire City 2, if the sales is good , then they might have a chance to cover empire remix like they used to, or else..... sad.gif

This post has been edited by Giant: Mar 24 2016, 06:15 PM
Giant
post Mar 24 2016, 11:09 PM

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QUOTE(mister_giam @ Mar 24 2016, 11:03 PM)
HCK capital's tan sri clement got a HCK tower there, who knows he can pump $ ?
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if empire city failed , HCK also in trouble...
Giant
post Mar 25 2016, 04:52 PM

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QUOTE(bb68 @ Mar 25 2016, 01:48 PM)
I observe few days, hardly see any activities from the outside...
Maybe all interior fitting now
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i still can see cranes are moving at the marriot tower
Giant
post Mar 26 2016, 01:48 PM

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A stir in Empire City

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Buyers cry foul but developer says it has fulfilled all obligations

THE low level of activity at the massive development of the RM5bil Empire City along the Damansara-Puchong Highway has caused a stir in the soft property market.

Built on a 28-acre piece of land, the developer Mammoth Empire Holdings Sdn Bhd had planned for the building of 12 tower blocks and the city’s biggest mall with a net lettable area of 2.5 million sq ft.

It is bigger than Pavilion Kuala Lumpur and Mid-Valley Megamall.

The integrated commercial lifestyle development comprises a mall, hotels, serviced office suites, SOHO offices as well as studio suites over a piece of land directly opposite the PJ Trade Centre and Empire Damansara in Damansara Perdana.

When they started on project about five years ago, the developer Mammoth Empire Holdings consciously decided to undertake the development of the mall together with 12 tower blocks at one go -- a mammoth effort for a developer that is unlisted and has a relatively short history compared to the giants in the industry .

Of the 12 blocks, they have handed six to the buyers.

However several issues have arisen from the handover of vacant possession of Empire City’s residential units to buyers last June.

Among them is making the buyers liable for monthly maintenance fees when the development of the entire project is not completed and the building not having its Certificate of Completion and Compliance (CCC) yet.

When the project was launched in 2011, the scheduled deliverables were meant to be staggered over 2014/2015. However delays in the completion of the retail mall have lead to speculation that the project was facing hiccups.

Mammoth Empire vehemently denies all speculations of the project being slowed down or that it has short changed its buyers.

According to its group executive director Datuk Danny JY Cheah the structural portions of the development were completed and hence from the outside it would seem that work has slowed down.

“Compared to the exterior works in the earlier phases of construction, this current phase gives people the impression that work has slowed down when that’s not the case at all,” Cheah tells StarBizWeek in an interview at its headquarters in Empire Tower in Subang.

Cheah also says that the mall is entirely owned by the group and they have no obligation to complete it on time.

“We don’t have any obligations to fulfil within time. Also some of the tenants have asked for a deferment of their opening of the mall,” he says.

Nevertheless he said that they were looking at segmental opening of the mall starting with food and beverage outlets to cater for the residents and tenants at Empire City.

“We hope to undertake segmental opening of the retail mall by year end to cater for the buyers and tenants there,” he says.

Some of the buyers of the units complainof the ongoing construction in the surrounding vicinity of their blocks. Under such conditions, buyers feel that they are unable to move in comfortably nor rent out their units.

In relation to this, Cheah says that their obligations are to hand over the properties when it was ready as stated in the sales and purchase agreement.

“Our lawyers made it very clear to them that we would hand over the units once they were ready,” he said.

Cheah also says that the maintenance fees that they pay is to upkeep the place.

“The maintenance fees do not come to us.

“It goes to another company that maintains the buildings as we are not in the business of making money off maintenance fees,” Cheah says.

As for the mortgage fees that they pay (when there is no CCC yet), such was the deal we agreed on when they signed the sale and purchase agreement. We can’t be carrying this “baby” forever.”

Having said that, Cheah says that the local authorities had recently conducted their inspection on four blocks and the developer was expecting to receive the CCC in about two weeks’ time, with the remaining blocks to follow.The mall’s intended opening was meant to be in December 2015, however, it was differed on the basis that Mammoth Empire owns it and does not have any sale and purchase agreements to fulfil, allowing the developer to have more time to complete it.

“We didn’t want to rush anything so we took more time on the components that we own. This entire development has been a very challenging task for us. We want to impress with our architectural mall front. There are various treatments and designs involved as this is a building that will last the next 50-100 years.

“Since we didn’t have any obligations to fulfil and we had already reached 80% of tenancy agreements, we wanted to do a good job of it,” Cheah says.

He added that some retailers had even requested to differ their opening, meaning that no one was complaining about the mall not being ready.Some 20% of the mall’s tenancy mix will be first-time brands in Malaysia. Some of them are Korean brands to cater to the growing popularity of the K-pop culture among youngsters, he says.

It was publicised earlier that Mammoth Empire took on a RM900mil loan from AmBank, leading to further speculation as to the size of the loan and what was happening behind the loan.

However, Cheah has clarified that the group’s borrowing tied to the Empire City project was RM315mil and it is mainly for the retail block that comes together with three levels of underground car park.

Among Mammoth Empire’s completed projects are Empire Subang, Empire Damansara, The Loft Bangsar, The Ara Bangsar and Empire Galeri Klang.

Asked if the recent debacle had hurt the group’s reputation, Cheah says: “We have been here for 16 years and plan to be around.”


http://www.thestar.com.my/business/busines...in-empire-city/

Giant
post Mar 26 2016, 05:09 PM

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QUOTE(ChuiChuiShui @ Mar 26 2016, 05:07 PM)
I thought Mall is September?
http://www.theedgeproperty.com.my/content/...-mall-postponed

postpone again? Seriously, delay endlessly... bangwall.gif
I really wish some of the High end luxury tenant pull out, as a punishment to the developer or any other future developments. dry.gif
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I thought Mall was in 2014 Dec too, every time also postpone
Giant
post Mar 29 2016, 10:38 PM

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QUOTE(nexona88 @ Mar 29 2016, 10:33 PM)
actually she did the right thing even when lost 20k lawyer fee, because if no cancel more loss coming soon  bangwall.gif
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but i still think empire city will open end of this yer and fully complete in 2017. I am more worried about Empire remix for now as i donno where MEH going to dig out the money to fill up Empire remix after Empire city complete.
Giant
post Mar 29 2016, 11:04 PM

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QUOTE(Informationiac @ Mar 29 2016, 10:41 PM)
They have a piece of land EC2, that land can cover alot. but again, with their integrity like that, i doubt they would sell it to big developer
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i waiting to c what kind of packages they going to offer for EC2.... hmm.gif
Giant
post Mar 29 2016, 11:13 PM

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QUOTE(Clement1001 @ Mar 29 2016, 11:08 PM)
Worst come to worst they can sell of the development plan along with the land and cover the Remix.
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what makes u think they are so kind to do so? sweat.gif
Giant
post Mar 30 2016, 02:07 PM

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QUOTE(TheReaderReads @ Mar 30 2016, 12:04 PM)
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
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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
Giant
post Mar 30 2016, 04:32 PM

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QUOTE(pacifiz @ Mar 30 2016, 03:28 PM)
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.
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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
Giant
post Mar 31 2016, 09:56 AM

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QUOTE(icemanfx @ Mar 30 2016, 11:07 PM)
It seems rental at a popular mall 3km away has reduced. Wonder how much impact will have on ec mall rental.
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which mall, ONe u or curve?

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