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

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icemanfx
post Jan 3 2016, 11:04 AM

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QUOTE(ManutdGiggs @ Jan 3 2016, 10:32 AM)
Icic. Thanks boss for the info. Just wish 2016 won't b a as bad as 2015 in malai as whole.

Too many bad news in 2015 where v definitely need gd news to cheer up everyone in 2016. 😅😅😅
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latuk, you oledi onshore, gd or bad news won't effect you. 2016 is definitely will be a better year, more gd news than last year.

icemanfx
post Jan 3 2016, 11:41 PM

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QUOTE(lch78 @ Jan 3 2016, 08:11 PM)
Tower cranes have stopped like 2 months now. My office just across LDP, can see only some workers watering plants, inside and outside also no workers doing work.

Wonder if the residential units are affected?? All the buildings outside seems like almost complete, but inside still a lot of work not done.
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It is unusual and few reasons for contractors to suspend work. Given the size and advance stage of this development, prolonged delay in vp may have spill over effect greater than this development.

This post has been edited by icemanfx: Jan 4 2016, 01:45 AM
icemanfx
post Jan 5 2016, 08:43 AM

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With end financing, payment is from buyers/borrowers bank. If the project is sold over break even point, there shouldn't be any funding issue.

icemanfx
post Jan 5 2016, 05:56 PM

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QUOTE(kochin @ Jan 5 2016, 02:23 PM)
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.
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QUOTE(gks @ Jan 5 2016, 02:29 PM)
Actually i am referring to Empire Residences.

I agree with you very unlikely MEH will abandon Empire City if you seen the progress billing structure of Empire City. If they have all the intention to abandon, they already abandon long time ago and not at this stage.
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The developer may not have the intention to abandon the project but lack of progress is rattling confidence level of buyers, suppliers, contractors and banks.
icemanfx
post Jan 5 2016, 06:50 PM

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QUOTE(natman @ Jan 5 2016, 06:35 PM)
Will they abandon ? already 2 blocks VP and the rest is at least 60 % done. If MEH really think of give up than i got no comment.  sad.gif
sad.gif
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Meh is unlikely to give up willingly.

If they have sold over half, there shouldn't have issue to complete. Wonder how many units were actually sold not sticker game.
icemanfx
post Jan 6 2016, 02:55 PM

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QUOTE(cutealex @ Jan 6 2016, 02:03 PM)
Better than ER...

I think Empire took ER project funds to helping EC previously....

ER progress only about 20% but they have claimed till 70%....
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If this is true, high chance that ER will not be completed.

icemanfx
post Jan 7 2016, 07:40 PM

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If the developer failed to service dibs bank interest, will bank ask borrower/buyer to pay?

icemanfx
post Jan 7 2016, 10:15 PM

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QUOTE(Kenleo @ Jan 7 2016, 10:05 PM)
Yes. The buyer or borrower is liable for the default or late progress payment by developer under dibs scheme.
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So until bank tell borrower/buyer to service dibs interest payment, all is well and nothing to worry.

icemanfx
post Jan 9 2016, 02:00 PM

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QUOTE(lionelmessi88 @ Jan 9 2016, 12:13 AM)
It is the same la, developer go holland, all purchasers go holland.

Just that for DIBS, the installment will be pay by developers during construction period, but the loan account is under purchasers, if developers no pay, late pay, purchasers jialat lor...
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Some claimed; most if not all purchasers have gold and silver mountains backing. They could liquidate other property and pay off with profit.

icemanfx
post Jan 30 2016, 12:18 PM

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QUOTE(Donald Trump @ Jan 30 2016, 11:23 AM)
ok lah ok lah
if u r indeed a buyer of this dont know what to say developer
know your rights and what you can do.....whatever u r not happy if the laws allow u can claim....or mayb claim much more than u deserve
keyword is collective action.....
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When the time comes to pay lawyer to initiate legal action, many will have second opinion or don't pay.

icemanfx
post Feb 9 2016, 05:22 PM

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QUOTE(hondaracer @ Feb 8 2016, 06:54 PM)
Anyone letting go Marriot Tower? Price?
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QUOTE(poilam @ Feb 8 2016, 11:44 PM)
I got my studio smallest size 365 sqft unit in empire damansara at 270k
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So asking price 398k or 428k?

icemanfx
post Feb 13 2016, 05:44 PM

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WITH an expected 17 million sq ft of shopping space coming into the Klang Valley from now until 2019, industry experts are concerned that this will result in an oversupply situation.

Khong & Jaafar group managing director Elvin Fernandez says the local retail sector is already “shaking out” with the level of supply at hand.

“Kuala Lumpur already has an average all time high of 7.5 sq ft of retail space per person, more than the average for Singapore and Bangkok. Big shopping centres like Suria KLCC and Pavilion are about 1.2 million sq ft each and 17 million sq ft is a very big number.”

“Yes, it is a clear oversupply situation.”

http://www.thestar.com.my/business/busines...opping-centres/

May be this was the reason for delay in handing over the shopping mall.

icemanfx
post Feb 13 2016, 06:24 PM

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QUOTE(HarpArtist @ Feb 13 2016, 06:04 PM)
both also tak boleh jalan
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You mean too cheap? So should start from 668k or 598k?
icemanfx
post Feb 16 2016, 10:40 PM

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QUOTE(USSRanger @ Feb 16 2016, 09:57 PM)
Good day all,

i'm one of the owner for EC Loft and colonial. never deny that the workmanship is really not acceptable at one level. however i believed not as bad it shown above as i done my unit QC checked. some parts really needed to redo.

so be patience and be calm. our property won't be in ruin.

fact is, developer itself having the biggest piece there as they not selling off and managing by themselves on the shopping mall. i think they more concern the success than us.
your sincerely

Small Timer
www.emalaysiaproperty.com
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QUOTE(PropLoV3R @ Feb 16 2016, 10:30 PM)
I had also personally went and did the QC check myself on both Halo Sunday and MyLoft, condition was not as bad as shown.
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Perhaps you can share some photos.

icemanfx
post Feb 25 2016, 06:53 AM

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If the mall is not fully opened for business in 3q2016; those bought to rent holding power will be tested.

This post has been edited by icemanfx: Feb 25 2016, 11:01 AM
icemanfx
post Feb 26 2016, 09:14 PM

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QUOTE(propertybbb @ Feb 26 2016, 09:02 PM)
No chance. Maybe next yr June to get shops open in the mall.
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Those who bought to rent and flip holding power will be tested.

icemanfx
post Mar 2 2016, 11:46 AM

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QUOTE(HarpArtist @ Mar 2 2016, 11:39 AM)
only thing u wld be afraid: these type of kids hold wild party.
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Landlord could insists in the tenancy agreement that he must be invited.

This post has been edited by icemanfx: Mar 2 2016, 11:47 AM
icemanfx
post Mar 3 2016, 02:49 PM

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QUOTE(VLVL @ Mar 3 2016, 01:13 PM)
haha... everyone will be happy if they make impossible to possible. if EC mall opened this place will BOOM
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The mall will be opened. The question is who will be the tenants?

icemanfx
post Mar 3 2016, 08:02 PM

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QUOTE(mtbk3 @ Mar 3 2016, 04:42 PM)
Interesting 140 pages worth of discussion and sharing. Didnt know EC is one of the hot topic here. I would like to join in..........

This is my, and only purely my humble opinion as a owner of a unit in EC.

In a nutshell, as an investor (small time), i always try to look at long term. I try to see how to developer see it. There is always a supporting research done as to why a developer choose to buy a land in a particular area and built a particular type of building and concept. At the end of the day, i dont think any developer, just for the sake of making money (of course profit is also the key point), will simply buy a land and simply build without taking into consideration the potential of the area and its product. Is only whether you belive in the particular developer's plan and direction.

The way i see it, EC will be a big hit. Heck, it may even be the development that will put Selangor on the map, or raise Selangor's status higher. Is like how KLCC put Malaysia/KL on the map (just an example)

Yes, there are alot of setback and complaints and dissatisfaction. Even i myself did make some complaints. But lets not forget, the buy in price was good for something of this scale. Yes, i agree that quality is a issue. But when i know that i have made more than 50% (example) in appreciation/profit, what is a mere RM10,000 taken from the profit to do up the studio unit nicely and let it go? This is just me lah.

Maybe i am not such a power/savvy investor yet, but i manage my expectations. Sort of like saying if you go to a chicken rice shop and order chicken rice for RM10, and you expect some Marini's57 presentation and service. Come one.......

Besides, which developer is perfect? Those more established big developer's property which is more expensive (some), is perfect? Still will have issues, and still ppl will complaint. I find it funny because, if is anything, the complaints should be more aggressive for them because they sell so much more expensive. So if i am paying that much more, my expectation will be higher, and even a little defects or imperfection, i will be furious. But that is not really the case isnt it?

Besides, most of my major complaints is attended to. Not done yet, but at least i was assured it will be rectify. Maybe i am lucky? I dont know. I dont even question.

I am not defending this developer nor am i defending my own interest. Because i agree, they have ALOT ALOT more to improve on. I just want to humbly share my views as an investor (small time) and a owner.

Please dont "flame" me ya. This post is just 100% PURELY my views and my justification to invest in EC and is not intended to make any of you change your mind or to correct your point of views or to defend anyone. Have to put this disclaimer here, as i see there is alot of forumers here that are quite aggressive with their comments and post. Sorry ya..........
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If the developer is half as good as you claimed, the mall opening need not delay.

icemanfx
post Mar 3 2016, 08:25 PM

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QUOTE(New Klang @ Mar 3 2016, 08:21 PM)
He is boasting loudly his profit of more than 50% and does not care the negative comments.

10k to him is easy come easy go.

This is the power of investing.
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Counting the chicken before they hatch.


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