Looks like another Empire Damansara in the making or WORSE.

with the early VP with no CCC and all the charges, investors are going to burned badly. From the letter is around RM6K now

At least 6 months (very lucky) vacant with no tenant, burning cash every month? Or worse I heard a year with no tenant.

I heard 2 big sharks who bought in bulk is going to flood the market with cheap units. They got it very cheap as compared to retailer.

Good luck guys! Who can hold it for a year or 2 min will be the winner.

I was told by a reliable resources "no LAD as it's within 42 months from the building plan approval"

Panicking!!!!

Vacant Possession
The developer must hand over Vacant Possession of the building with water and electricity ready for connection during the calendar period from the date of the SPA:
24 months (for land and buildings); and
36 months (for Stratified Building). 

Terms of vacant possession (VP)
Make sure the property is free from any encumbrances / charges.
Certificate from the developer's architect stating that:
The building is completed.
Water supply and electricity ready for connection.
The developer has applied for the issuance of CFO/CCC through Form E * and local authority has issued a letter stating that Form E has been checked and accepted by local authorities.

Buyer can occupy the house only when the CFO/CCC is issued :
While inspecting the building, any defect is recorded and submitted to the developer to be rectified.
Make sure you get copies of the complaint (For TTPR reference if necessary).
The renovation of the house is only allowed after obtaining the CFO and approval of plans by local authorities.
* Form E is an application from the developer's architect to the relevant authority for the issuance of the CFO/CCC.

Establishment of Management Corporation for Stratified Building
A Management Corporation shall be established by the purchasers once the strata title of each individual parcel is issued. 

The Management Corporation is responsible for insuring and maintaining the entire building and common property.

Payment of Damages

The developer shall pay to the buyer for damages:
If developer failed to deliver vacant possession of the building as specified in the Sale and Purchase Agreement
Calculated from day to day at the rate of 10% per annum of the purchase price

Defects Liability Period
24 months after the date of vacant possession.
The developer is required to rectify the defects within 30 days of receipt of the complaint.
After the expiry of 30 days, if the developer did not take any action the buyer must notify the developer of the cost required to rectify the defects.
Buyer must send written notice by registered post or through a solicitor.
After 14 days from the notification of the cost, if the developer did not take any action the Purchaser is entitled to recover the cost of repairing from the developer by deducting the 5% retention money charged as stated in the Third Schedule Clause 4 (1) in the SPA that is held by the developer’s solicitor.

Tribunal For Homebuyer’s Claims (TTPR)
TTPR provides an alternative to hear and adjudicate claims for homebuyers compensation or damages from housing developers in a more simple, cheaper and faster way.
Claims must be made ​​within 12 months after;
The date of Certificate of Fitness for Occupation (CFO)/ (CCC) issued or
End of Defects Liability Period (DLP) as specified within the SPA
Claims cannot be more than RM 50,000

Director
Enforcement Division
National Housing Department
Ministry of Housing and Local Government
Level 30, No.51, Persiaran Perdana
Presint 4, 
Pusat Pentadbiran Kerajaan Persekutuan
62100 Putrajaya, MALAYSIA

Tel : 603-8891 4410
Fax : 603- 8891 4045
E-mel : enforcement@kpkt.gov.my

Haha, it really depends how one looks at it.. Based on projected rental, one is looking at approx 4% yield & mind you competitions can be pretty tough especially at Damansara Perdana area with high density units for the market to digest

Just came back from Empire City. I have no idea how did they managed to VP the building.

Saw 1 unit, a low floor unit. 1 word: Horrible. They units are in bad shape. Alot of touch up need to be done.

Also, the lobby. OMG. Is like entering a construction site. I would say is 70% done. How on earth are u going to rent out the place? who would want to rent a place in a middle of a construction site?

Good luck existing buyers. I am still holding to my believe. There will be a sales for Empire City.

Odieboy, you are the first owner who I know that is "quite satisfied" with the condition of your unit. Besides this, what do you think about the condition of the common facilities and the fact that you will not receive your keys until all defects are rectified. Lastly, what do you think about having to pay your housing loan and maintenance charges considering you can't occupy or rent out your unit?

Some addition photos taken recently....

My latest factory bot at 470psf has beta workmanship. And I own the fh land.

How much is this cost in psf for the unit with pics shown above???

High rise owners don't own the land rite??? Are u suggesting one has to giv in to wateva quality as long the price is cheap??? Absolute cheap or cheap in psf??? Dun get me wrong. I just wanna listen to different comments fr different ppl. More so u r a reputable one. 

Btw how to justify prime loc in ur statement above??? My fac is 10km away fr klcc and 8km away fr this ec. Which one has beta loc??? Mine is kl add fh. This is pj add lh. FYI I'm not comparing Apple to Apple. Just merely trying to get some advices for the loc identification.

huh? bcos its MEH whom usually providing worse than normal standard, buyers are glad that they maintain their 'standard' and this round without given you 'golden pot'?

280k is not really cheap given that its a smaller than mickey mouse unit...the so called 'fully furnished' status is just a cosmetic cover up....

come on.....whether its investment worthiness is another story....you cant make the conclusion that because original owners make some money....the rest is ought to be forgiven..

Yup. I know many flippers (plenty of my friends ) in this project and not afford to pay monthly installments.  All pls be patience and wait for firesales   

not for another 2 years min

oversupply all over the world 

on the way to USD20/bbl

true.. in the end people like us suffers badly as cost of living increases, more job losses, pay cut, buying power decreases..etc..   

according to some people. We actually are paying 'petrol tax' now.. The 'real' retail petrol price is much lower!

Taken last sat

If this project is first launched in 2010, does that mean first batch buyers entitled to heavy LAD now? Will MEH pay if the LAD claims are valid?

dirty tricks from day 1...  this dev will not pay...and will not deliver completed unit
even the ER under HDA also they ignoring LAD which is coming to 1 1/2yrs if i m not mistaken

Q's:
1. which tribunal? consumer or housing?
2. if this is a commie, and hypothetical speaking, why can't MEH just unwind the company if they have already billed major portion of the billings. after all, each billing would have included their profit, no? from the pics, looks like the entire development already is 7788. and assuming 70% of the development is sold (assume 30% is retained by developer eg. the mall), they could potential have billed everybody 85% of the 70% sold products. more than a decent profit i might say.

but having said all that, don't think they will abandon lah. if they should abandon, they should have done it much earlier and not at this stage.
the mall should be a fat cashcow IF it's successful. but as in most development, so near yet so far. the final mile could very well be the hardest mile.

dev like this really screw their customers. how are they allowed to keep in biz?