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TSedyek
post Nov 1 2010, 02:07 PM, updated 14y ago

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What is your opinions on this development? (Recently saw they launched the subject development at KK property fair.)

It is located at Klang and develop by Hotwer Development.

http://www.iproperty.com.my/developments/1...rvice_Suites#m1

1. Locality?
a) How is the Traffic impact?
b) Residential/Commercial Area?

2. Pricing. Is it consider expensive in Klang?

3. Any others? Anyone can tell me how is Klang doing nowadays?


Added on November 3, 2010, 10:48 amNothing?

This post has been edited by edyek: Nov 3 2010, 10:48 AM
cristiano7mu
post Jan 2 2011, 09:34 PM

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Went to their office today.

guanranteed 7.5% return as the management will rent it out like hotel
and fixed total return increase every 3 years. This is a 18 years contract.

Land Area: 2 Acres
Built Up: 356 - 484 sq.ft
Listing Price: From RM195,000 - RM309,800

So it should be around RM550 to Rm640 per sf. A little to high isn't it?

I'm considering it. Any comment?

This post has been edited by cristiano7mu: Jan 2 2011, 10:18 PM
naleh33
post Jan 2 2011, 10:54 PM

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QUOTE(cristiano7mu @ Jan 2 2011, 09:34 PM)
Went to their office today.

guanranteed 7.5% return as the management will rent it out like hotel
and fixed total return increase every 3 years. This is a 18 years contract.

Land Area: 2 Acres
Built Up: 356 - 484 sq.ft
Listing Price: From RM195,000 - RM309,800

So it should be around RM550 to Rm640 per sf. A little to high isn't it?

I'm considering it. Any comment?
*
Are those units fully furnished or you still need to pump in additional $$ to get it done? What about the loan? Any freebies eg. Interest free during construction period, free SPA?
airline
post Jan 3 2011, 07:42 AM

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this is the type of scheme or development i would stay far away from.
CyrusChang
post Jan 3 2011, 09:43 AM

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The developer very new...

When I google the company...they just recruit staff in the past few months
TSedyek
post Jan 3 2011, 03:20 PM

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QUOTE(cristiano7mu @ Jan 2 2011, 09:34 PM)
Went to their office today.

guanranteed 7.5% return as the management will rent it out like hotel
and fixed total return increase every 3 years. This is a 18 years contract.

Land Area: 2 Acres
Built Up: 356 - 484 sq.ft
Listing Price: From RM195,000 - RM309,800

So it should be around RM550 to Rm640 per sf. A little to high isn't it?

I'm considering it. Any comment?
*
Is it high in Klang? I've no idea in Klang market.

QUOTE(naleh33 @ Jan 2 2011, 10:54 PM)
Are those units fully furnished or you still need to pump in additional $$ to get it done? What about the loan? Any freebies eg. Interest free during construction period, free SPA?
*
Fully furnished. The others I've not yet to know.

QUOTE(airline @ Jan 3 2011, 07:42 AM)
this is the type of scheme or development i would stay far away from.
*
Why? Because guarantee scheme always does not work out?

QUOTE(CyrusChang @ Jan 3 2011, 09:43 AM)
The developer very new...

When I google the company...they just recruit staff in the past few months
*
Yes they are. But the developer has steady good cash flow.

This post has been edited by edyek: Jan 3 2011, 03:21 PM
cristiano7mu
post Jan 3 2011, 06:44 PM

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QUOTE(naleh33 @ Jan 2 2011, 10:54 PM)
Are those units fully furnished or you still need to pump in additional $$ to get it done? What about the loan? Any freebies eg. Interest free during construction period, free SPA?
*
Ya Fully Furnished.
I'm not so sure bout the freebies and SPA. If not mistaken ya its interest free during construction. Estimate to complete by 2014.
They just started construction about 1-2 months ago.

QUOTE(airline @ Jan 3 2011, 07:42 AM)
this is the type of scheme or development i would stay far away from.
*
Mind to share why? As I'm new to properties... thinking of investing.
7.5% returns but 1% for what the salesperson call Sinking fund.

QUOTE(CyrusChang @ Jan 3 2011, 09:43 AM)
The developer very new...

When I google the company...they just recruit staff in the past few months
*
Ya quite new... the one of the shareholder is relative of the Empire Gallery Boss (at subang and another place forgot where is it located). Apparently, that Empire holder is also the adviser for this new developer.

QUOTE(edyek @ Jan 3 2011, 03:20 PM)
Is it high in Klang? I've no idea in Klang market.
Fully furnished. The others I've not yet to know.
Why? Because guarantee scheme always does not work out?
Yes they are. But the developer has steady good cash flow.
*
I mean is the price compare to Subang for service suite?

So far there is only one service suite in Klang at Bukit Tinggi. Haven't check out their price yet and this is the second and going to be the tallest building and only 4 star hotel in Klang.

Edyek, are you from Klang?

This post has been edited by cristiano7mu: Jan 3 2011, 06:46 PM
maxforce
post Jan 3 2011, 11:35 PM

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Destined to fail - why? They named it THE BOSS Suite... damn kampong name tongue.gif
At least put some effort in naming it... this looked like build then run kind of scheme. tongue.gif tongue.gif tongue.gif
TSedyek
post Jan 4 2011, 08:58 AM

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QUOTE(cristiano7mu @ Jan 3 2011, 06:44 PM)
Ya Fully Furnished.
I'm not so sure bout the freebies and SPA. If not mistaken ya its interest free during construction. Estimate to complete by 2014.
They just started construction about 1-2 months ago.
Mind to share why? As I'm new to properties... thinking of investing.
7.5% returns but 1% for what the salesperson call Sinking fund.
Ya quite new... the one of the shareholder is relative of the Empire Gallery Boss (at subang and another place forgot where is it located). Apparently, that Empire holder is also the adviser for this new developer.
I mean is the price compare to Subang for service suite?

So far there is only one service suite in Klang at Bukit Tinggi. Haven't check out their price yet and this is the second and going to be the tallest building and only 4 star hotel in Klang.

Edyek, are you from Klang?
*
No I'm not. I'm from East Malaysia actuaclly. My friend friend is the developer of this property. So I've to weight it and maybe give it a consideration.
JamesPond
post Jan 31 2011, 11:54 AM

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it is too over-price Klang area.......
supersp
post Jan 31 2011, 02:21 PM

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QUOTE(JamesPond @ Jan 31 2011, 11:54 AM)
it is too over-price Klang area.......
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IMHO, definitely overpriced ... for >500psf ...
Rent it like a hotel ? Look at the hotel business in klang u will know why this is not going to work ....
Rent it like a small office? Look at the Empire Gallery just opposite to gauge the demand for small office in Klang ...
Target yuppies who wants to rent a pigeon hole in Klang ? who wants to do tha ? they can rent one easily in damansara, KL, etc with the same budget ...
It is the 1st project from this developer, they are related to the developer of Empire Subang ...
TSedyek
post Feb 7 2011, 11:27 AM

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QUOTE(JamesPond @ Jan 31 2011, 11:54 AM)
it is too over-price Klang area.......
*
QUOTE(supersp @ Jan 31 2011, 02:21 PM)
IMHO, definitely overpriced ... for >500psf ...
Rent it like a hotel ? Look at the hotel business in klang u will know why this is not going to work ....
Rent it like a small office? Look at the Empire Gallery just opposite to gauge the demand for small office in Klang ...
Target yuppies who wants to rent a pigeon hole in Klang ? who wants to do tha ? they can rent one easily in damansara, KL, etc with the same budget ...
It is the 1st project from this developer, they are related to the developer of Empire Subang ...
*
Ah, thank you for the advice. Have not purchase the unit yet as many of my west malaysian friends told me the same thing. Over priced.
michaelho
post Apr 27 2011, 09:48 PM

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reminds me of a handphone with camera lens...hahahhahha
Libra
post May 13 2011, 01:37 PM

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QUOTE(edyek @ Feb 7 2011, 11:27 AM)
Ah, thank you for the advice. Have not purchase the unit yet as many of my west malaysian friends told me the same thing. Over priced.
*
Sometimes it's bad to be in a place with too much background noise.
If I were you, I will sit back and look at it from far and perhaps from
another angle. Questions we have to ask ourselves are like:-

1. How much do we know about hotel business.
2. How many hotels have you seen failed or fails to
survive?
3. What's the profit margin for hotels like? or perhaps what's
the break even occupancy rate for a hotel in Klang?

O.K. I have yet to see a hotel belly up no matter how bad the
economy might be. Here in Klang, we are told the occupancy rate
has been more than 60%... all in all.

so?.... The bottom line - Am I walking into a bobby trap or am I
walking away when opportunity knocks?

Just my 2 sens.



bsa12
post May 13 2011, 02:47 PM

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the website does not give exact address. if the apartment is in existing Klang town centre, it will be a failure. The traffic there is bad, surrounding building mostly is more than 20 years old, with bad town planning.
wpq8355
post May 13 2011, 04:40 PM

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a property in Klang that need marketing till sabah and sarawak? hmmm.. only 1 reason.. NO BUY.. vice versa sabah and sarawak prop market in KL..
cutealex
post May 13 2011, 05:18 PM

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QUOTE(wpq8355 @ May 13 2011, 04:40 PM)
a property in Klang that need marketing till sabah and sarawak? hmmm.. only 1 reason.. NO BUY.. vice versa sabah and sarawak prop market in KL..
*
Bro, cannot say Sabah like tat lah..if u know where i from..u will get shock..
wpq8355
post May 13 2011, 05:25 PM

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QUOTE(cutealex @ May 13 2011, 05:18 PM)
Bro, cannot say Sabah like tat lah..if u know where i from..u will get shock..
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wei.. i am from sarawak la.. you misunderstand la wat i mean..

my view is klang property having bad sell in klang, then only sell in sabah and sarawak.. and also sabah and sarawak prop bad sell in east malaysia, then need to sell in kl lo..

maybe prop got problem lo.. if not lama sapu liao lo

eh you from sabah? then we same east malaysia la.. accross South china sea to cari makan leh..

This post has been edited by wpq8355: May 13 2011, 05:28 PM
cutealex
post May 13 2011, 05:28 PM

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QUOTE(wpq8355 @ May 13 2011, 05:25 PM)
wei.. i am from sarawak la.. you misunderstand la wat i mean..

my view is klang property having bad sell in klang, then only sell in sabah and sarawak.. and also sabah and sarawak prop bad sell in east malaysia, then need to sell in kl lo..

eh you from sabah? then we same east malaysia la.. accross South china sea to cari makan leh..
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Now at Airport..6.30pm fly...next target...Sentul...
wpq8355
post May 13 2011, 05:31 PM

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another YTL prop? eh count me in.. still got relatives interested beside amara..
cutealex
post May 13 2011, 05:36 PM

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QUOTE(wpq8355 @ May 13 2011, 05:31 PM)
another YTL prop? eh count me in.. still got relatives interested beside amara..
*
Not YtL...i thk 4km far...still no firm info yet..will PM u bro..ok..heheh dont kacau ppl thread...this thead for Boss Suites Klang...heheh..anythings u can PM me too...we share2 info..cheers.. icon_rolleyes.gif
property strategist
post Nov 5 2011, 09:56 PM

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there will not be any hotel operator for this project and how the developer is going rent the whole 377 units to expats and local tenants with the promising rental guarantee?

it's better to peruse the tenancy agreement, especially the termination clauses!
Alvin (King Group)
post Dec 2 2011, 07:37 PM

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Hi All,

I have an update for this project. Please refer to below for the details:-

1. Free hold title
2. Fully Furnished (television, air-conditioner, bed, curtain, study table, wardrobe, etc)
3. Service Suites for 10/90 Scheme (by Maybank, BSN, and AFFIN Bank); Commercial lot for 15/85 scheme
4. DIBS (no progress payment)
5. Free Maintenance for 18 years
6. Lease back and guarantee rental for 18 years at 7.5% (net of 6.5% for suites), and 8% (net of 7.5% for commercial)
7. Hotel management which are shortlisted to Hilton, Novotel or Best Western
8. Free legal on SPA
9. Booking fee is RM5,000
10. Construction commenced, and completion end of 2013/ early 2014
11. Every 3 years CPI of 9% on your rental return (increase your property value by 3% per year and recalculate your GRR base on the increased price)
12. Located at Klang prime area (and praised by Feng Shui Master), offering convenience and high accessibility
13. The one and only iconic tower in Klang, Selangor
14. Flexible, zero-risk leasing with high appreciation rates and high buy back value from the developer
15. Hotel Management ties with over 4,000 companies and factories as their panel hotel for their travelling executives
16. Price: RM 240,000 onwards!

Anyone interested please kindly pm. Thanks.

Regards,
Alvin Gan
kelvin667
post Dec 3 2011, 10:16 AM

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Anyway Alvin, what type of guarantee rental return and free maintenance guarantee based on since this is 18 years.
Any fixed amt $ put in bank to guarantee this?
Alvin (King Group)
post Dec 3 2011, 11:06 AM

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Hi Kelvin,

Guarantee rental simply means that the developer covers the monthly rental as though they are the tenant in your property. Guarantee rental for 18 years means they guarantee they will stay at your property for the next 18 years and pay you monthly rental which is 6.5% base on your purchase price. The developer will bank in the money monthly to your designated bank account.

Maintenance Free means you do not need to pay maintenance fees for the next 18 years to the developer. This has been absorbed by the developer. A black and white document called Tenancy Agreement are prepared to protect you and the developer on both's interest. It will clearly state the above mentioned clauses.

Regards,
Alvin Gan
kelvin667
post Dec 3 2011, 07:14 PM

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What I'm am asking is how good is the GRR?
Guaranteed by who?corporate guaranteed?
Alvin (King Group)
post Dec 5 2011, 03:12 PM

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Hi Kelvin,

The GRR is 6.5%. Good? Let me explain using a calculation example, please refer to below:

Remarks:
Selling Price: 200k
20% Deposit: 40k
80% Loan: 160k
BLR: 4.5%
Loan Tenure: 30 years

Bank instalment: RM811
Net Rental income (base on 6.5% GRR): RM1084
Surplus: RM273 per month
Surplus: RM273 x 12 = RM 3276 p.a

GRR is guaranteed by the developer. They will have to honour it as it is stated in the tenancy agreement.

Regards,
Alvin Gan
Guppy11
post Dec 5 2011, 05:52 PM

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QUOTE(Alvin (King Group) @ Dec 5 2011, 03:12 PM)
Hi Kelvin,

The GRR is 6.5%. Good? Let me explain using a calculation example, please refer to below:

Remarks:
Selling Price: 200k
20% Deposit: 40k
80% Loan: 160k
BLR: 4.5%
Loan Tenure: 30 years

Bank instalment: RM811
Net Rental income (base on 6.5% GRR): RM1084
Surplus: RM273 per month
Surplus: RM273 x 12 = RM 3276 p.a

GRR is guaranteed by the developer. They will have to honour it as it is stated in the tenancy agreement.

Regards,
Alvin Gan
*
The 6.5% is on the selling price itself, meaning every year onwards the rental will be only RM1084 even though the property price may increase to 300k after 3 years.....so, is it under value the rental by refering to selling price and not the market price.....maybe other condo with price 300k they can rent out with RM1625k (6.5% of market price) but you only got RM1084....correct me if i m wrong, thank you.
Alvin (King Group)
post Dec 5 2011, 07:01 PM

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QUOTE(Guppy11 @ Dec 5 2011, 05:52 PM)
The 6.5% is on the selling price itself, meaning every year onwards the rental will be only RM1084 even though the property price may increase to 300k after 3 years.....so, is it under value the rental by refering to selling price and not the market price.....maybe other condo with price 300k they can rent out with RM1625k (6.5% of market price) but you only got RM1084....correct me if i m wrong, thank you.
*
Hi Guppy,

Your statement above is very true. The developer themselves have already noticed this. To make this 6.5% GRR even more fair to the investors, they have an increase of CPI (property value) of 9% once every 3 years. Which means today you bought the unit at 200k and the 6.5% GRR will base on this price. To make it reflect to the market condition, as stated above, the developer will increase 9% on the 200k which will become 218k on the 4th year. Then the GRR 6.5% will base on the 218k which is amounting to RM1180.

For your convenience, I have work out the table below for your review (base on RM200k unit):

1st term : RM 1084 per month
2nd term : RM 1180 per month
3rd term : RM 1287 per month
4th term : RM 1403 per month
5th term : RM 1529 per month
6th term : RM 1666 per month

Remarks: 1 term = 3 years

Also referring to your example above, I beg to differ on the 300k x 6.5% = RM1625 rental income as this is a very subjective rental income calculation. Some condo might have enjoy good capital appreciation but not so good on the rental rates. It will depends on the rental demand of the property. Besides, average rental rates in the Malaysia market in general will fetch around 3-5% (depends on the property upkeep, location, public amenities, building facilities, future development, etc).

Furthermore, as the developer is giving a guarantee return, it is not feasible for the developer to speculate or forecast the property value (capital appreciation) to increase by 50% [(300k-200k) / 200k ] over 3 years.

Invest in The Boss @ Klang will kept the uncertainties to the minimum as the developer is providing 6.5% GRR for 18 years and increase of CPI of 9% every 3 years.

Regards,
Alvin Gan
pisces88
post Feb 17 2012, 10:56 PM

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I got update, still got units available.

Anyone bought? I'm very sceptical now. Got marketing company claims got 50unit available, 280k. Over priced?
keongkk33
post Feb 17 2012, 11:49 PM

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developer use the same company to sign the guarantee return scheme? or different company?
Chris Chew
post Feb 18 2012, 02:02 AM

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If 18 years GRR and as stated by Alvin above is actually 3+3+3+3+3+3, total 18 years.

Mean your capital for the property by today is lock for next 18 years and after it expired at 2030, you may sell your property that time. Perhaps a gamble for 40k as capital for the deposit and after 18 years, the principal would be reduce by half, say loan 160k and it reduce to 80k.

Problem is how much can sell after 18 years. 1mil?
If it do, means a 40k gamble for 920k return? (1mil-80k bank outstanding loan)

This post has been edited by Chris Chew: Feb 18 2012, 02:03 AM
flodder
post Feb 18 2012, 02:38 AM

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QUOTE(Chris Chew @ Feb 18 2012, 02:02 AM)
Problem is how much can sell after 18 years. 1mil?
If it do, means a 40k gamble for 920k return? (1mil-80k bank outstanding loan)
*
after 18 years of time there must have some value but not at your said 40k for 920k so highest
Chris Chew
post Feb 18 2012, 06:48 AM

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QUOTE(flodder @ Feb 18 2012, 02:38 AM)
after 18 years of time there must have some value but not at your said 40k for 920k so highest
*
I just assume only. RM 200k property and increase to RM 1mil in 18 years is hard to say actually. If landed, very likely. Not sure for SoHo.

However, say it really make RM 920k. It's look good as at 2012 today paper calculation. RM 920k on 2030 is actually very small compare today.

Biggest issue is, can it make it?

I doubt bcz even KL have no successful SoHo product, not to mention, Klang a famous Chinaman place with much landed to grow. The minded of them are always invest in landed.





flodder
post Feb 18 2012, 07:28 AM

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What a place property let say now you buy 300k and after when the building complete the price will jeep up like speed 600k something.
pisces88
post Feb 18 2012, 11:17 PM

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QUOTE(keongkk33 @ Feb 17 2012, 11:49 PM)
developer use the same company to sign the guarantee return scheme? or different company?
*
No, is different company, will be another company that manage the hotel. this other company is said to be managing other hotels as well.. to me is all bullcrap tongue.gif this management company need to give the suite owners 400-500k every month. lets say they cannot tahan coz no customers and bankrupt in 3 months, how? that time u have to pay the suite's loan to bank , 1k+ urself. and cant sell also, coz already overpriced, nobody wanna take from you unless you sell at discounted rate. lol

QUOTE(Chris Chew @ Feb 18 2012, 02:02 AM)
If 18 years GRR and as stated by Alvin above is actually 3+3+3+3+3+3, total 18 years.

Mean your capital for the property by today is lock for next 18 years and after it expired at 2030, you may sell your property that time. Perhaps a gamble for 40k as capital for the deposit and after 18 years, the principal would be reduce by half, say loan 160k and it reduce to 80k.

Problem is how much can sell after 18 years. 1mil?
If it do, means a 40k gamble for 920k return? (1mil-80k bank outstanding loan)
*
from what i heard, they even offer to buy off the property off your hand anytime between the 18 years according to market rate. whistling.gif is there such a perfect investment?
Junnior
post Feb 22 2012, 12:05 AM

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i have a doubt... Does the developer has the authority to terminate the tenancy when after 3 years renewing within 18 years?
Chris Chew
post Feb 22 2012, 02:16 AM

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QUOTE(Junnior @ Feb 22 2012, 12:05 AM)
i have a doubt... Does the developer has the authority to terminate the tenancy when after 3 years renewing within 18 years?
*
I think yes.

Most developer would probably do this.


Bahkuteh
post Feb 28 2012, 01:03 AM

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Hotel?

This post has been edited by Bahkuteh: Mar 11 2012, 12:08 AM
Towlee
post Mar 16 2012, 07:40 AM

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What's the latest with this development? Drove past and saw the area boarded up.
yokomo1
post Mar 16 2012, 08:15 AM

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Erm... a bit difficult to predict... my six sense says it might be good/bad

80% bad 20% good ... hehe btw just my seventh sense tongue.gif
Towlee
post Mar 17 2012, 09:01 AM

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Why so high % for bad yokomo1?
interim
post Mar 30 2012, 11:36 AM

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QUOTE(yokomo1 @ Mar 16 2012, 08:15 AM)
Erm... a bit difficult to predict... my six sense says it might be good/bad

80% bad 20% good ... hehe btw just my seventh sense tongue.gif
*
New developer , funny design & funny name. cool2.gif

My personal 2 Cent comment.
Nothing worth to predict , can tell the conclusion now directly.
600 per SF that you invest = you better trow the money into Sea.

How can the developer Grantee 6% ? shocking.gif
Based on my insider news , the property valuer in 2008 told the value maximum can only up to RM250 per SF with risk. But now 600 per SF so the developer think they are Sey Hoi Chan , Mah Sing or SP Setia? rclxub.gif

Don't Dreaming doh.gif that location is not strategy good location, Jam Like hell some more facing the bridge & next to hospital. The Feng shui sure not good. No office around , demand is low.... occupancy rate sure low.

There's one restaurant nearby also already bankrup.
If that restaurant not yet bankrup , even wrost with illegal parking anywhere during the wedding dinner, trust me you will having big problem to get access into the building during working hour due to primary school nearby and during weekend because many restaurant around.

SOHO in Shah Alam from developer such as SunSuria in Jelutong & SPSetia next to citi mall with bigger space 400-500 SF only RM500 per SF.

You think that small room can worth 400-500k next 2 years ?
We are not singapore , hong kong nor Shanghai . Klang got so many hotel , occupancy rate <50% per year.
BBT One , Crystal Crown , Prescott Hotel...............somemore there's so many budget hotel now a day.

So dont be Gong Kia borrow people money and believe will have > 6% ROI back to you.


Added on March 30, 2012, 11:39 am
QUOTE(pisces88 @ Feb 18 2012, 11:17 PM)
No, is different company, will be another company that manage the hotel. this other company is said to be managing other hotels as well.. to me is all bullcrap tongue.gif this management company need to give the suite owners 400-500k every month. lets say they cannot tahan coz no customers and bankrupt in 3 months, how?  that time u have to pay the suite's loan to bank , 1k+ urself. and cant sell also, coz already overpriced, nobody wanna take from you unless you sell at discounted rate. lol
from what i heard, they even offer to buy off the property off your hand anytime between the 18 years according to market rate.  whistling.gif  is there such a perfect investment?
*
YEah , you are right. Discount until 100k i also don't want invest property had such funny design & funny name.
BOSS....yeik rclxub.gif

This post has been edited by interim: Mar 30 2012, 11:39 AM
retkev
post Apr 11 2012, 10:57 AM

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From the first day I saw this advertise. I have a strong feeling its a bad investment. My strong advice is no no no... No positive factors that is going for this project. With 6% GRR, sure can. They take your lumpsum money and put into the bank or reinvest. Then slowly everymonth pay u back your own money. If the money they roll or reinvest fail, or they are just greedy, they close shop and run. Your GRR is as good as 0.

Think wisely before u invest here. If u still think its a good investment the all the best. I won't regret this as well if in the future it really makes a good return and I'm not vested. The risk is way higher than the return to me.
SUIGE
post Apr 16 2012, 03:40 PM

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Dear all invester,

I got few unit from developer (Loan reject unit) . If any of you feel interested on this project please dont hesitate to contact me @ 017-6675766
Same offer from developer as DIBS, GRR 7.5% for 18years.
Bahkuteh
post Apr 16 2012, 10:30 PM

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With all d comments above,still got buyer meh?
ecin
post Apr 17 2012, 12:22 PM

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Seriously thought about this project.. IMHO, like most of you, not recommended
Bahkuteh
post Apr 18 2012, 11:53 PM

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QUOTE(maxforce @ Jan 3 2011, 11:35 PM)
Destined to fail - why? They named it THE BOSS Suite... damn kampong name tongue.gif
At least put some effort in naming it... this looked like build then run kind of scheme. tongue.gif tongue.gif tongue.gif
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rclxub.gif
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post Apr 19 2012, 03:00 AM

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QUOTE(retkev @ Apr 11 2012, 10:57 AM)
From the first day I saw this advertise. I have a strong feeling its a bad investment. My strong advice is no no no... No positive factors that is going for this project. With 6% GRR, sure can. They take your lumpsum money and put into the bank or reinvest. Then slowly everymonth pay u back your own money. If the money they roll or reinvest fail, or they are just greedy, they close shop and run. Your GRR is as good as 0.

Think wisely before u invest here. If u still think its a good investment the all the best. I won't regret this as well if in the future it really makes a good return and I'm not vested. The risk is way higher than the return to me.
*
well said taikor,

had stumble across this only few months back, when one of friends friend tongue.gif bought a unit

sat down & listen to their Point of buying, look at the so call GRR & discounts + DIBS.. done some research & concluded no buy.. juz not for me i guess


way too high risk, purely rentals game which im not comfy in...



m2cent
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post Apr 19 2012, 10:37 AM

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I am very optimistic for property investment in Klang. In fact I am on the look out for another property. I believe decent gains can be made should the entry price is reasonable.

I am not confident about this project particularly the pricing and the promise of attractive returns. In my opinion Klang has yet to reach this sophistication. However I may be wrong as Klang folks are really rich but low profile.


Bahkuteh
post Apr 19 2012, 08:52 PM

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QUOTE(interim @ Mar 30 2012, 11:36 AM)
New developer , funny design & funny name. cool2.gif

My personal 2 Cent comment.
Nothing worth to predict , can tell the conclusion now directly.
600 per SF that you invest = you better trow the money into Sea.

How can the developer Grantee 6% ?  shocking.gif
Based on my insider news , the property valuer in 2008 told the value maximum can only up to RM250 per SF with risk. But now 600 per SF so the developer think they are Sey Hoi Chan , Mah Sing or SP Setia? rclxub.gif

Don't Dreaming doh.gif  that location is not strategy good location, Jam Like hell some more facing the bridge & next to hospital. The Feng shui sure not good. No office around , demand is low.... occupancy rate sure low.

There's one restaurant nearby also already bankrup.
If that restaurant not yet bankrup , even wrost with illegal parking anywhere during the wedding dinner, trust me you will having big problem to get access into the building during working hour due to primary school nearby and during weekend because many restaurant around.

SOHO in Shah Alam from developer such as SunSuria in Jelutong & SPSetia next to citi mall with bigger space 400-500 SF only RM500 per SF.

You think that small room can worth 400-500k next 2 years ?
We are not singapore , hong kong nor Shanghai . Klang got so many hotel , occupancy rate <50% per year.
BBT One , Crystal Crown , Prescott Hotel...............somemore there's so many budget hotel now a day.

So dont be Gong Kia borrow people money and believe will have > 6% ROI back to you.


Added on March 30, 2012, 11:39 am

YEah , you are right. Discount until 100k i also don't want invest property had such funny design & funny name.
BOSS....yeik rclxub.gif
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Ur comments r valid nod.gif
interim
post Apr 23 2012, 04:39 PM

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QUOTE(Bahkuteh @ Apr 19 2012, 08:52 PM)
Ur comments r valid nod.gif
*
Thanks for support. rclxms.gif

Although this project now is in progress. Based on my insider news , most of the previous applicant was rejected by Bank due to instability of income from them.

Only one reason - Meaning most of those buyer are youngster who fresh graduate or lower level end worker who really though invest in this property can make them have 7% ROI cool2.gif

There's so many good project coming up in klang , why must invest this? I really can't find any solid reason in term value of appreciation. doh.gif

Although it next to one of the main road but it doesn't mean anything.

Design = Wired
Name = Funny
Location = Lousy
Population = Low
Transportation =
Township around = Old
ROI = 7% Grantee ??? So What ? I can easily get this from Insurance company.
Management = New , still unknown how's the management

Hotel ? So many hotel already in klang.
Again , We are not singapore , hong kong nor Shanghai . Klang got so many hotel , occupancy rate <50% per year.
BBT One , Crystal Crown , Prescott Hotel...............somemore there's so many budget hotel now anywhere.
Hotel for made in china might turn out as result , let's see how. whistling.gif

As result , don't borrow money to people who you don't know them very well , it could end up with empty promises.


Added on April 23, 2012, 4:42 pm
QUOTE(SUIGE @ Apr 16 2012, 03:40 PM)
Dear all invester,

I got few unit from developer (Loan reject unit) . If any of you feel interested on this project please dont hesitate to contact me @ 017-6675766
Same offer from developer as DIBS, GRR 7.5% for 18years.
*
Rm300k - 400k if worth to invest , Annual income just above MYR5500 can get the bank approval easily.
But why ? How come until today still so many loan reject unit?

Personal 2 cent , high income buyer or experiences investor (rich businessman) not interested. whistling.gif


This post has been edited by interim: Apr 23 2012, 04:42 PM
NelsonBoy
post Sep 20 2012, 07:47 PM

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any update on this BOSS ?


ecin
post Sep 20 2012, 10:14 PM

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QUOTE(interim @ Apr 23 2012, 04:39 PM)
As result , don't borrow money to people who you don't know them very well , it could end up with empty promises.
Haha, come across with your this sentence .. Good one by using it in PropertyTalk.
ishy
post Nov 10 2012, 02:25 PM

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Phase 2 open for registration

By year end 95 % completed for Phase 1 and Phase 2 completion in August 2013

Left few units service suite and retail outlet

When I bought in Dec 11' price was RM 665psf and now I just got hold of remaining units and its price, wow shocked to see RM 725psf
ecin
post Nov 10 2012, 02:28 PM

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QUOTE(ishy @ Nov 10 2012, 02:25 PM)
Phase 2 open for registration

By year end 95 % completed for Phase 1 and Phase 2 completion in August 2013

Left few units service suite and retail outlet

When I bought in Dec 11' price was RM 665psf and now I just got hold of remaining units and its price, wow shocked to see RM 725psf
*
How much do you think it would be upon VP?
SUSworgen
post Nov 10 2012, 03:17 PM

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QUOTE(ecin @ Nov 10 2012, 02:28 PM)
How much do you think it would be upon VP?
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1000psf. sap sap sui.
ecin
post Nov 10 2012, 06:23 PM

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QUOTE(worgen @ Nov 10 2012, 03:17 PM)
1000psf. sap sap sui.
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I was thinking it would go 2,000 psf LOL shocking.gif
Donald Trump
post Nov 10 2012, 08:33 PM

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QUOTE(ishy @ Nov 10 2012, 02:25 PM)
Phase 2 open for registration

By year end 95 % completed for Phase 1 and Phase 2 completion in August 2013

Left few units service suite and retail outlet

When I bought in Dec 11' price was RM 665psf and now I just got hold of remaining units and its price, wow shocked to see RM 725psf
*
Wow u make so much u must be the BOSS's son whistling.gif ...pls pls tell us more about how much u make but dont tell anything if kena lelong
cybermaster98
post Mar 9 2013, 07:26 PM

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Is this really worth considering? The 'returns' seem too good to be true:

1) 18 years GRR at 7.5% for serviced suites and 8.0% for retail lots
2) 18 years free maintenance but need to pay sinking fund which is 1%
3) DIBS scheme but completion next year
4) Loan rate not fixed by developer. Depends on bank so if u can nego better rates, then good for u
5) Capital appreciation of 9% guaranteed
6) Free SPA and legal fees (need to pay for loan legal fees)
7) Units can be sold subsale after VP.

There are only a few units available. But saw a few <400 sf costing about 380K. I know the psf price is high for this area but im more concerned about the GRR and capital appreciation. They claimed its all in black n white.
CMW123
post Mar 9 2013, 07:41 PM

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QUOTE(cybermaster98 @ Mar 9 2013, 07:26 PM)
Is this really worth considering? The 'returns' seem too good to be true:

1) 18 years GRR at 7.5% for serviced suites and 8.0% for retail lots
2) 18 years free maintenance but need to pay sinking fund which is 1%
3) DIBS scheme but completion next year
4) Loan rate not fixed by developer. Depends on bank so if u can nego better rates, then good for u
5) Capital appreciation of 9% guaranteed
6) Free SPA and legal fees (need to pay for loan legal fees)
7) Units can be sold subsale after VP.

There are only a few units available. But saw a few <400 sf costing about 380K. I know the psf price is high for this area but im more concerned about the GRR and capital appreciation. They claimed its all in black n white.
*
Yes boss is it investable? I have offer of 1 unit at RM665 psf. Concern is the klang property Market has no flavour for This kind of shoe box unit n the reliability of the guarantee. The developer boss is owner of goodnite mattress n CASA nova furniture n related to empire mamoth boss.

The retail units also quite fully sold But can retail at this location be successful? Is there lack of supply of hotel in klang?

The auto capital appreciation adjustment of 9% is quite attactive of course if there is no default of guarantee lah

cybermaster98
post Mar 9 2013, 08:14 PM

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QUOTE(CMW123 @ Mar 9 2013, 07:41 PM)
Yes boss is it investable? I have offer of 1 unit at RM665 psf. Concern is the klang property Market has no flavour for This kind of shoe box unit n the reliability of the guarantee. The developer boss is owner of goodnite mattress n CASA nova furniture n related to empire mamoth boss.

The retail units also quite fully sold But can retail at this location be successful? Is there lack of supply of hotel in klang?

The auto capital appreciation adjustment of 9% is quite attactive of course if there is no default of guarantee lah
There are a few serious concerns:

1) Price psf is almost double the market value in this place. So obviously developer is making alot of profit
2) GRR schemes are very dangerous as developer usually cover themselves by giving the management rights to another company (which is usually low capital base and not related to parent company). So in case of dispute, we can't do much and we wont be able to regain losses.
3) Nothing mentioned about payment terms of the GRR and if there are any penalties if the investor is not paid on time. So they can even turn around and say payment once a year and we cant do anything.
4) Lawyers for the SPA will be appointed by developer so those lawyers will be acting for the developer and not us in case of dispute later on

http://www.iproperty.com.my/news/669/inves...uaranteed-rents

http://www.beahappymillionaire.com/investi...-return-scheme/

http://biz.thestar.com.my/news/story.asp?f...66&sec=business

macho dog
post Mar 9 2013, 08:55 PM

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This project is only for ppl who really dare to goreng.


Ero-Sennin
post Mar 11 2013, 12:05 AM

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I'd never invest in such property with such ridiculous sales package...a good property does not need to have such sales package to sale...just my 2 cents...
moonielistic
post Jun 3 2013, 09:35 AM

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I been to KSL yesterday and there was a small iproperty exhibition at the EXPO. I saw thier booth and the girl claimed that she was from the developer site approached us about this project.She showed us there stil about over 10 units left and they have rebate promotion of 3k yesterday.
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post Jun 12 2013, 08:54 AM

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Please don't be duped into this project!!
There are more than ample hotels in Klang and its definetely not worth anything more than RM400 psf. Progress also looks slow and is fronting a road which has heavy traffic most of the time.
Good luck for those who believe Hilton/Novotel will be opening up in this side of Klang!
0182764470
post Jun 15 2013, 04:13 AM

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I have booked one unit..actually I am looking good for this project..8 have been told the survey taken to public. .now the price is increasing..
0182764470
post Jun 15 2013, 04:18 AM

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Every investment has their risk..nothing can be guaranteed. .but one things should bear in mind is..never borrow people money to invest...investment is long term..actually I have done many homework. .if the boss is going to perform, this is really a good investment..anyone know what is the pricing now?? Psf?? The location is strategic isn't it?? If not mistaken..the developer is related with good night matress and subang gallery...who know the details? ? ? Appreciated for your reply
0182764470
post Jun 15 2013, 04:23 AM

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(How the boss going to guarantee the rental to purchaser whenever there is no business in coming years?? What if the developer do not wish to buy back for the unit??)
This is only the query we need to figure out..
ahdar
post Jun 15 2013, 07:57 AM

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I stay at klang, so I know the location of this project is heavy traffic jam and noisy sumore 400 ++ psf?? Subsales landed property only 150-250 psf, and most importantly the building design is terrible, just look like " usb thumb drive"
ace77
post Jun 15 2013, 09:44 AM

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QUOTE(0182764470 @ Jun 15 2013, 04:18 AM)
Every investment has their risk..nothing can be guaranteed. .but one things should bear in mind is..never borrow people money to invest...investment is long term..actually I have done many homework. .if the boss is going to perform, this is really a good investment..anyone know what is the pricing now?? Psf??                            The location is strategic isn't it?? If not mistaken..the developer is related with good night matress and subang gallery...who know the details? ? ? Appreciated for your reply
*
Obviously ur research is not enuf. This class of property here is high risk. U may get better return in landed property in this area. Unless the intention is to get a room for ur overnite adventure here...

I guess the project name is very spot on BOSS. U may find many se..taries staying there..
0182764470
post Jun 15 2013, 01:31 PM

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So far the progress of construction is smooth right??who already buy the unit??
BYBYBY
post Jun 15 2013, 07:26 PM

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The structure now at fixing of reinforcement bar for 9th floor column. I bought a unit for serviced suite last April 2013. Priced by RM 763 / sf.
I understand surely all peoples are concerning of losing money for this investment from all the previous comments. I wish to share my point of view.

This is the first project of the developer. Bare in mind, who or which company want to fail at their first step to do business? For sure, the team will fight and put all their afford to make sure this project success. Business is run by human, if the people who manage it dont do the best, for sure this project will fail. Bus as i said, WHO PLAN TO FAIL FOR THEIR VERY FIRST STEP? (unless they plan to cheat the investor money which i donno)

People who manage it is the key of success in every project. I saw the profile of the director of developer. With creative, young, energetic thinking, they wont left behind the market. How to coup up the sales of business, is depend to the management strategy. No sales mean no profit. If you have source, you may investigate it in the local area at Klang about the director personality.

Talking about over priced. Such a good plan, why i sell it. After deduct the loan from bank. I still got RM 500 pocket money every month (not yearly). And they will bank in to my assign bank. We can make our own investigation, is out there have such profitable property. If yes, that is a good investment. And we should invest on it. No matter is it residential or commercial property. Developer paid the rent by 6.5% from purchase price. So the bigger value u buy, the more money u get. I do not plan to sell it, so i not worry about over priced.

I got lesser headache to manage my investment. If i buy other condo for rental, i need to deal with the buyer or agent, new agreement, renew agreement, all maintenance matter (electric no working, water leakage, wall damage, repaint, lock damage, electric machine break down, cushion, chair & table damage....), tenant not pay the rent and refuse to move out, not pay electrical or water bill before leaving, no income for few months for no tenant rent my house and need to pay agent fee to get tenant. In this investment plan, i not worry about it for 18 years. I got more time to do other thing. Time is very valuable to us.

I can said their is a risk of, DO HOTEL BUSINESS GOT SUCH MARKET IN KLANG? In this point, Im not professional. I dont do research to support the fact. There are F&B (food & beverage) run by developer. This is the most profitable business in this building. And is running by developer itself. The sales person told every wedding seasons, all restaurant are fully book. If yes, developer will make tonnes of money. I hope they will. This is another source of people to rent the hotel's room. This mean the hotel got business and sales. And developer have ability to pay rent to us. From the map, i saw most of land is occupied by landed property and factory. Factory is source of business. Mean there are many peoples not local and need accommodation. Is a live market.

What is the reasonable price should offer for hotel stay? I make some assumption. 60% of occupancy yearly, 40% of amount pay to investor, 60% of amount go to developer for hotel running cost and profit, the breakeven cost is RM 333.71 per night for 384 sf. This hotel can survive by this rate. If my assumption is wrong, then the breakeven cost need to amend. Again i not professional, my assumption have no support.

Last week i get information about the assumption. There are a Singapore developer offer an investment plan for 5 star beach resort and spa at Phuket, Thailand. 60% go to investor, 40% will go to developer and management. If i base on this assumption the breakeven price is RM 222.47. Do you think BOSS can survive? If hotel can survive then they can make profit and our investment is save.

Investment is plan for a better life. If you suffer to make this investment, I suggest you not to make this investment. There will be other chances in the future.

Hope my opinion will benefit to you.
0182764470
post Jun 15 2013, 09:03 PM

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Yes..I agree with your point. ..nothing business is no risk..even I am not so understand how you calculate the occupancy, but the point is valid and solid.

Are you from klang??
BYBYBY
post Jun 16 2013, 12:19 PM

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QUOTE(0182764470 @ Jun 15 2013, 09:03 PM)
Yes..I agree with your point. ..nothing business is no risk..even I am not so understand how you calculate the occupancy,  but the point is valid and solid.

Are you from klang??
*
The developer tell me that the average occupancy in Klang hotel is 70%, and the Phuket hotel is 50%, so i take the middle of 60%.
I live in north part.
alexng2208
post Jun 17 2013, 06:00 PM

Why my warn is 0%? i miss my high warn
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How's the sales like for this project?

I read that they sold out at launch in 2011... but somehow, still got more than 120 units unsold for serviced residence and 30 units for retail lots...

construction slated to complete by end 2013 but then now mid 2013, construction only level 9 out of 28 floors?

so they have sold 60% of residence, 25% of shops, construction only 20-30%?
BYBYBY
post Jun 17 2013, 07:23 PM

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QUOTE(alexng2208 @ Jun 17 2013, 06:00 PM)
How's the sales like for this project?

I read that they sold out at launch in 2011... but somehow, still got more than 120 units unsold for serviced residence and 30 units for retail lots...

construction slated to complete by end 2013 but then now mid 2013, construction only level 9 out of 28 floors?

so they have sold 60% of residence, 25% of shops, construction only 20-30%?
*
Not sure the sales now. What i was informed are, sold out at lauch in 2011 for chinese quota. Now release for bumi quota.

Progress now i think is delay. For typical floor, if they fast enough, 1 week can cast 1 floor. Now the typical floor just start, they use 20days to cast 1 floor. See how for the on going month.

The calculation must in include structure and architecture works. Now what you see is only structural progress.
0182764470
post Jun 18 2013, 05:00 AM

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Guys..due to limitation , I only can share for this..

For investors,pls kill of 3 questions..as attached above

Can you guys find the checklist by Robert Gavin?? These are the fair and very reasonable point...if you can find it..then you will never worry what you are doing now...I mean for GRR investment..

Cheers. .welcome anyone posted for the key points

alexng2208
post Jun 18 2013, 09:07 AM

Why my warn is 0%? i miss my high warn
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QUOTE(BYBYBY @ Jun 17 2013, 07:23 PM)
Not sure the sales now. What i was informed are, sold out at lauch in 2011 for chinese quota. Now release for bumi quota.

Progress now i think is delay. For typical floor, if they fast enough, 1 week can cast 1 floor. Now the typical floor just start, they use 20days to cast 1 floor. See how for the on going month.

The calculation must in include structure and architecture works. Now what you see is only structural progress.
*
first time developer project already delayed...

i figure they will delay at least 1 year with now only 1/3 or its way up on super structure. since its fully furnished with all the fancy facade, i think its a reasonable estimate

fail lar this project
0182764470
post Jun 24 2013, 01:35 AM

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Any new updates? ?
kelvinwkf
post Jun 26 2013, 10:42 PM

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Seem like they not running the project, everyday I pass by also dont see any worker
0182764470
post Jun 27 2013, 04:45 AM

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Are this building in a main location?high density area?? Nearby hotel is always full?? Price per night??
stonkong
post Jun 27 2013, 07:31 AM

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i check the site, actually the shape of boss is seem.

faReZheLmi
post Jun 27 2013, 09:06 AM

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This project is not going to work. Please don't waste your money.

Worth to invest in icity compared to this one. At least we know there will be mrt extension in 2020 stop in i city and 1million sq ft shopping mall going to develop there.

Or maybe you can invest in setia alam if you really want to invest in KLang. At in setia alam we have setia city mall to support the population growth and also demand.

The boss? You have nothing. They only promise all kind of return to attract buyer and we know only people dont know anything about real estate will fall for that. I bet developer will put in clause where they can terminate the contract during the rental revision every 3 years.

Find somewhere else to invest. The boss definitely no-no investment.
0182764470
post Jun 28 2013, 05:43 AM

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Any buyer have signed the contract with the clause where developer can terminate the contract during the rental revision every 3 years??
0182764470
post Jul 6 2013, 04:39 AM

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Any update? ?
ace77
post Jul 6 2013, 05:23 AM

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QUOTE(0182764470 @ Jul 6 2013, 04:39 AM)
Any update? ?
*
Just a pathetic scenes. Just tell te state of this project. Let go if u still can
Bee am
post Jul 6 2013, 08:04 AM

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QUOTE(0182764470 @ Jul 6 2013, 04:39 AM)
Any update? ?
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U r not from Klang is it? Have u not seen d project site before as tis is d first rule in buying property..
faReZheLmi
post Jul 6 2013, 08:07 AM

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QUOTE(Bee am @ Jul 6 2013, 08:04 AM)
U r not from Klang is it? Have u not seen d project site before as tis is d first rule in buying property..
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+1
CMW123
post Jul 6 2013, 11:18 AM

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when u commit hundred of thousands on a property, have to ensure that all the questions/concern that u have are being answered adequately

if many questions cannot be answered, then best to think 3 times is this the property that you will regret not buying later

if will regret then research more using objectivity and not emotion

if would not regret, many other options available, scare you not enough money only

0182764470
post Jul 7 2013, 03:08 PM

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You mean give up this project?yeah..I m from penang...nvr been there. .so need to ask you guys if you have been there. ..
Bee am
post Jul 7 2013, 04:56 PM

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QUOTE(0182764470 @ Jul 7 2013, 03:08 PM)
You mean give up this project?yeah..I m from penang...nvr been there. .so need to ask you guys if you have been there. ..
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If me, got chance to cancel tis purchase, I'd do it. I pass by tis project almost everyday. But then, tat is me la.. Cos in ur first few post, u sound so confident in this 'investment' so I thought u might have some info that most of don't. But now u say location also u not seen, then I doubt la...
0182764470
post Jul 21 2013, 09:53 PM

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I know still have fair in g hotel...to sell off the boss unit today
Jdite
post Jun 20 2014, 05:19 PM

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May i know who is going to manage the hotel?
json0324
post Jun 27 2014, 10:13 PM

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beware of this project, heard it's already stop work, the owner owe ah long money.
Kicimiao66cc
post Jun 27 2014, 10:37 PM

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This project is selling a very long long time already. Still constructed yet?
Babizz
post Jun 27 2014, 10:48 PM

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Yeah, I mentioned this before. Some people bought into the GRR scheme. I can't believe Klang is gonna have another abandoned building. He should have made it a serviced apartment or something.

The north side of Klang maybe needs another 50-100 room hotel not a 377 room hotel.
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post Jul 4 2014, 02:42 AM

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QUOTE(yokomo1 @ Mar 16 2012, 08:15 AM)
Erm... a bit difficult to predict... my six sense says it might be good/bad

80% bad 20% good ... hehe btw just my seventh sense tongue.gif
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What you predicted is true, this project already stop work for now ...

This post has been edited by jssl: Jul 4 2014, 02:43 AM
Babizz
post Jul 4 2014, 07:33 AM

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QUOTE(jssl @ Jul 3 2014, 12:42 PM)
What you predicted is true, this project already stop work for now ...
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When I pass by everyday I dont see much going on. Have u called the developer?
Clement1001
post Jul 4 2014, 11:34 AM

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By looking at the FB how the 27 year old CEO reply one of the buyer for the project issues are pathetic.
tengster
post Jul 4 2014, 11:47 AM

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QUOTE(Clement1001 @ Jul 4 2014, 11:34 AM)
By looking at the FB how the 27 year old CEO reply one of the buyer for the project issues are pathetic.
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Clement-kor...Can share the FB link?
Clement1001
post Jul 4 2014, 12:15 PM

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QUOTE(tengster @ Jul 4 2014, 11:47 AM)
Clement-kor...Can share the FB link?
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https://www.facebook.com/pages/The-Boss-Ser...210967165584338
Refer to Mr.Lau Hong Kit post.
Top Gun
post Jul 4 2014, 12:44 PM

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QUOTE(tengster @ Jul 4 2014, 11:47 AM)
Clement-kor...Can share the FB link?
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To be abandoned project also can see you chui sui here!
You are just everywhere!
Want to write about this project to propcafe ah?
tengster
post Jul 4 2014, 02:58 PM

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QUOTE(Top Gun @ Jul 4 2014, 12:44 PM)
To be abandoned project also can see you chui sui here!
You are just everywhere!
Want to write about this project to propcafe ah?
*
I want to know what went wrong so that I can learn more about it....it is NEVER wrong to learn more everyday...
tengster
post Jul 4 2014, 02:59 PM

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QUOTE(Clement1001 @ Jul 4 2014, 12:15 PM)
Thanks....will go check it out.
CMW123
post Jul 4 2014, 03:04 PM

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This project is under HDA, right?
jinyee80
post Jul 5 2014, 09:44 AM

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Heard this project has been taken over by other party. Work stops at site. Can anyone verify?
Babizz
post Jul 5 2014, 10:05 AM

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u believe this other party story all ah... u vested there ah?
adhoc
post Jul 5 2014, 11:00 AM

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The construction is stalled since last month. I know pretty well coz i stay behind and pass by everyday. sleep.gif hope its not another abandoned project, really an eyesore.

This post has been edited by adhoc: Jul 5 2014, 11:01 AM
adhoc
post Jul 5 2014, 11:02 AM

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QUOTE(CMW123 @ Jul 4 2014, 03:04 PM)
This project is under HDA, right?
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I think not under HDA as this is considered commercial property
tengster
post Jul 5 2014, 11:14 AM

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QUOTE(Babizz @ Jul 5 2014, 10:05 AM)
u believe this other party story all ah... u vested there ah?
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Sir, can you share what you know?
KaFai
post Jul 5 2014, 11:24 AM

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So who is the real boss now?
Babizz
post Jul 5 2014, 07:40 PM

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QUOTE(tengster @ Jul 4 2014, 09:14 PM)
Sir, can you share what you know?
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passed by just now n nothing is going on.
tengster
post Jul 5 2014, 08:43 PM

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QUOTE(Babizz @ Jul 5 2014, 07:40 PM)
passed by just now n nothing is going on.
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There is no smoke without a fire..... nod.gif
Kvsual
post Aug 4 2014, 12:40 AM

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QUOTE(ahdar @ Jun 15 2013, 08:57 AM)
I stay at klang, so I know the location of this project is heavy traffic jam and noisy sumore 400 ++ psf?? Subsales landed property only 150-250 psf, and most importantly the building design is terrible, just look like " usb thumb drive"
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Yea that's why now ady abandoned..
SUSInF.anime
post Aug 4 2014, 01:19 AM

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If this project is under HDA gor hope to revive or not?
SUSInF.anime
post Aug 4 2014, 01:22 AM

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QUOTE(airline @ Jan 3 2011, 07:42 AM)
this is the type of scheme or development i would stay far away from.
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Legendary airline
he alrdy a sifu when I was still a newbie
he used to spam a lot, but at least he was not wrong everytime

This post has been edited by InF.anime: Aug 4 2014, 01:31 AM
tengster
post Aug 4 2014, 07:18 AM

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QUOTE(InF.anime @ Aug 4 2014, 01:22 AM)
Legendary airline
he alrdy a sifu when I was still a newbie
he used to spam a lot, but at least he was not wrong everytime
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airline-kor is a topnotch property sifu. He underwrite the developer, and not just simply buy buy buy because of location, price and others.
Babizz
post Aug 4 2014, 07:52 AM

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haha any updates on BOSS?? still undercon or abandoned d?
If its the second option, then this is gonna be klang's largest eyesore!
gogocan
post Aug 4 2014, 01:43 PM

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Pass by the site last week and by the look of it, can 90% sure construction abandoned. If not, then the progress is extremely slow.
SUSInF.anime
post Aug 4 2014, 02:53 PM

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QUOTE(tengster @ Aug 4 2014, 07:18 AM)
airline-kor is a topnotch property sifu. He underwrite the developer, and not just simply buy buy buy because of location, price and others.
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you know him personally?
dorothy2010
post Sep 15 2014, 12:09 PM

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i saw the green stuff already start failling down...anyone can confirmed is this already abandoned?
ayha2009
post Oct 31 2014, 05:32 PM

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QUOTE(dorothy2010 @ Sep 15 2014, 12:09 PM)
i saw the green stuff already start failling down...anyone can confirmed is this already abandoned?
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Everyday i passby using federal highway.
Look like abandoned.
Those brought it will cry.... bubble happening..
ayha2009
post Oct 31 2014, 05:35 PM

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QUOTE(gogocan @ Aug 4 2014, 01:43 PM)
Pass by the site last week and by the look of it, can 90% sure construction abandoned. If not, then the progress is extremely slow.
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SIngapore not better than us. I think Singapore start first and Malaysia come soon.

http://biz.sinchew.com.my/node/104476
navonod
post Nov 4 2014, 12:36 AM

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Does anyone knows who the bridging financier is?
Babizz
post Nov 10 2014, 03:00 PM

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hows the BOSS? still dead?
bahar786
post Nov 10 2014, 05:55 PM

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KO
tnang
post Nov 28 2014, 05:59 PM

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QUOTE(lynforum @ Nov 28 2014, 05:43 PM)
Boss of BOSS run road?
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Boss sudah cabut
webby88
post Nov 28 2014, 09:05 PM

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What actually happen? Under hda or commercial? At one stage one real estate agency really push very hard.
thomas_dotcom
post Dec 9 2014, 07:06 PM

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shit happens....
Brainy_Panda
post Dec 9 2014, 10:20 PM

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It's a night mare if someone bought it
tnang
post Dec 9 2014, 10:36 PM

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QUOTE(Brainy_Panda @ Dec 9 2014, 10:20 PM)
It's a night mare if someone bought it
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Is true abandon?
Glcotan
post Dec 10 2014, 12:10 PM


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Dead-er than dead
Szai
post Dec 10 2014, 12:42 PM

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Another one..small scale also dead 😠
ronn77
post Dec 10 2014, 12:48 PM

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I tot the site project still got some activity going on?
Babizz
post Dec 10 2014, 02:03 PM

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QUOTE(ronn77 @ Dec 9 2014, 10:48 PM)
I tot the site project still got some activity going on?
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cn u post pics?
gtfan
post Dec 10 2014, 03:01 PM

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Now it become a real eye sore for klang residents. yawn.gif No more boss.

Still remember one agent kept on pushing the GRR boss have. More like Gerenti Rugi Rugi tongue.gif
B4U
post Dec 10 2014, 04:56 PM

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pass by....didn't see any construction going on....
webby88
post Dec 10 2014, 10:51 PM

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If this is abandon, then Klang got 2 eyesore standing along Federal Highway. One Boss and the other next to AEON Jusco.
Brainy_Panda
post Dec 10 2014, 10:56 PM

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It's an iconic building in Klang
tnang
post Dec 10 2014, 11:01 PM

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QUOTE(Brainy_Panda @ Dec 10 2014, 10:56 PM)
It's an iconic building in Klang
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One more near to it is hotel building next aeon bukit raja
webby88
post Dec 10 2014, 11:03 PM

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QUOTE(tnang @ Dec 10 2014, 11:01 PM)
One more near to it is hotel building next aeon bukit raja
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I sympathize with the buyers of BOSS. smile.gif Hard earn money going into it.

This post has been edited by webby88: Dec 10 2014, 11:07 PM
Brainy_Panda
post Dec 10 2014, 11:04 PM

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QUOTE(tnang @ Dec 11 2014, 01:01 AM)
One more near to it is hotel building next aeon bukit raja
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Ya but I-city still selling like no tomorrow with that price tag..
steventan85
post Mar 15 2015, 10:57 PM

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What a sad developer ....No more update ?
Babizz
post Mar 15 2015, 11:06 PM

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QUOTE(steventan85 @ Mar 15 2015, 08:57 AM)
What a sad developer ....No more update ?
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passby recently.. confirm abandon d.. biggest eyesore EVER in klang shakehead.gif shakehead.gif shakehead.gif
tengster
post Mar 15 2015, 11:16 PM

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QUOTE(Babizz @ Mar 15 2015, 11:06 PM)
passby recently.. confirm abandon d.. biggest eyesore EVER in klang  shakehead.gif  shakehead.gif  shakehead.gif
*
Second biggest lah.. tongue.gif

The first one is beside Jusco...
Babizz
post Mar 15 2015, 11:34 PM

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QUOTE(tengster @ Mar 15 2015, 09:16 AM)
Second biggest lah.. tongue.gif

The first one is beside Jusco...
*
Boss, this BOSS is taller n bigger than acma hotel.. acma reli screw up BBK... many component esp in d back really dead/abandon.. reli eyesore place..

Btw, heard they gona revive the bbk 5 star hotel.. think is pure kok tok. tongue.gif tongue.gif
Glcotan
post Mar 16 2015, 06:27 AM


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QUOTE(Babizz @ Mar 15 2015, 11:34 PM)
Boss, this BOSS is taller n bigger than acma hotel.. acma reli screw up BBK... many component esp in d back really dead/abandon.. reli eyesore place..

Btw, heard they gona revive the bbk 5 star hotel.. think is pure kok tok.  tongue.gif  tongue.gif
*
The hotel I think heard revival since 10 years ago
SephirothLee
post Mar 16 2015, 08:05 AM

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wah seh this is another property i find quite unique leh, i was also interested in it at one time, i din bother when they say i cannot live in it.....
phew rclxub.gif
Tavia88
post Mar 16 2015, 08:31 AM

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Hearsay the sales is only 20% wor... how true is this?? Lols..
usherken
post Mar 16 2015, 09:00 AM

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QUOTE(Glcotan @ Mar 16 2015, 06:27 AM)
The hotel I think heard revival since 10 years ago
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The billboard says completion Q4 this year. Nearly choked on own saliva and die. Lol
SephirothLee
post Mar 16 2015, 09:20 AM

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QUOTE(Tavia88 @ Mar 16 2015, 09:31 AM)
Hearsay the sales is only 20% wor...  how true is this?? Lols..
*
i am not suprised, the property was sold at around 600 psf 3 years ago. Developer damn spoil market and greedy want take all the money from the table. Summore i estimated a high rise at that time would be enterable at 300++ psf.
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post Mar 16 2015, 09:42 AM

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QUOTE(SephirothLee @ Mar 16 2015, 09:20 AM)
i am not suprised, the property was sold at around 600 psf 3 years ago. Developer damn spoil market and greedy want take all the money from the table. Summore i estimated a high rise at that time would be enterable at 300++ psf.
*
overprice for not stable developer, super high risk
Babizz
post Mar 16 2015, 09:43 AM

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QUOTE(Tavia88 @ Mar 15 2015, 06:31 PM)
Hearsay the sales is only 20% wor...  how true is this?? Lols..
*
no i think sales much btr.. maybe 40-50%.. i knw they gt no bank finance them n they ow a lot of supplier/contractor mad.gif mad.gif

they shld hv launched condo at 350psf back then but they are lousai la, sure abandon either way. MPK shldnt give approval fr small developers to build highrise in klang.
SephirothLee
post Mar 16 2015, 12:26 PM

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QUOTE(Babizz @ Mar 16 2015, 10:43 AM)
no i think sales much btr.. maybe 40-50%.. i knw they gt no bank finance them n they ow a lot of supplier/contractor  mad.gif  mad.gif

they shld hv launched condo at 350psf back then but they are lousai la, sure abandon either way. MPK shldnt give approval fr small developers to build highrise in klang.
*
terrible la i actually liked the design coz its modern, hmm i think mebbe they have every intention to cheat the money d
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QUOTE(0182764470 @ Jul 21 2013, 10:53 PM)
I know still have fair in g hotel...to sell off the boss unit today
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looking at the past post it seems he booked a unit or actually it is an agent stirring up this property
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post Mar 16 2015, 05:48 PM

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QUOTE(SephirothLee @ Mar 15 2015, 10:26 PM)
terrible la i actually liked the design coz its modern, hmm i think mebbe they have every intention to cheat the money d
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yeap.. i heard he fled off d country mah.. too many ppl he owe.. cnt sleep tight at night tongue.gif
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post Mar 17 2015, 07:39 AM

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QUOTE(Babizz @ Mar 16 2015, 06:48 PM)
yeap.. i heard he fled off d country mah.. too many ppl he owe.. cnt sleep tight at night  tongue.gif
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celaka him, summore sazean business park another gone case in klang.... ai yoyo
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post Mar 17 2015, 08:04 AM

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QUOTE(SephirothLee @ Mar 17 2015, 07:39 AM)
celaka him, summore sazean business park another gone case in klang.... ai yoyo
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Bro y u so sazean business park gone case? Stop work d meh.?
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post Mar 17 2015, 08:15 AM

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QUOTE(Bee am @ Mar 17 2015, 09:04 AM)
Bro y u so sazean business park gone case? Stop work d meh.?
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i live nearby la, lol... i heard sazean sold most its land to wct, the work been damn slow i been observing for some time, i used to want to buy their service apartment.
Babizz
post Mar 17 2015, 08:43 AM

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QUOTE(SephirothLee @ Mar 16 2015, 06:15 PM)
i live nearby la, lol... i heard sazean sold most its land to wct, the work been damn slow i been observing for some time, i used to want to buy their service apartment.
*
ya sazean also out.. i just passby n one kesas progressing well.. sazean look like abandon fr a few yrs.

MPK shld nt allow small new developers to build big projects brows.gif brows.gif

boss, so which land is d one the new mixed development with lrt?
InvestThing
post Mar 17 2015, 09:31 AM

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Pity boss buyers.. no DIBS somemore no HDA.. service interest only until some dev take over. Damn sad hard earn money pay interest for nothing.
SephirothLee
post Mar 17 2015, 10:00 AM

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QUOTE(InvestThing @ Mar 17 2015, 10:31 AM)
Pity boss buyers.. no DIBS somemore no HDA.. service interest only until some dev take over. Damn sad hard earn money pay interest for nothing.
*
sounds like u r finding joy from the misery of others lol
InvestThing
post Mar 17 2015, 10:03 AM

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QUOTE(SephirothLee @ Mar 17 2015, 10:00 AM)
sounds like u r finding joy from the misery of others lol
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No man. I genuinely pity them. I bought a condo which was abandoned for 12 years from this elderly couple for 250k. They bought at around 80k. Basically they have been paying interest for 12 freaking years without reducing their principal at all. Back then interest rate was way higher. Sad story bro
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QUOTE(Babizz @ Mar 17 2015, 09:43 AM)
ya sazean also out.. i just passby n one kesas progressing well.. sazean look like abandon fr a few yrs.

MPK shld nt allow small new developers to build big projects  brows.gif  brows.gif

boss, so which land is d one the new mixed development with lrt?
*
i think sazean still got a bit hope, since well sazean has a history of delivering late by 2 years late, perhaps we can it CCC at 2020, as for the boss, i believe its a conjob in the first place.
Babizz
post Mar 17 2015, 09:50 PM

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QUOTE(SephirothLee @ Mar 16 2015, 10:16 PM)
i think sazean still got a bit hope, since well sazean has a history of delivering late by 2 years late, perhaps we can it CCC at 2020, as for the boss, i believe its a conjob in the first place.
*
yes i see a bit of the same trend of d boss with ekocheras.. i think boss nvr had bank loans cos they couldnt see the demand fr a 5 star hotel in klang.
usherken
post Mar 18 2015, 10:02 AM

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QUOTE(Babizz @ Mar 17 2015, 09:50 PM)
yes i see a bit of the same trend of d boss with ekocheras.. i think boss nvr had bank loans cos they couldnt see the demand fr a 5 star hotel in klang.
*
Yeah. Really don't know what they are playing at. Plus the package they were offering were crazy in the first place. 18 years guaranteed rental return. Who the heck does that!?
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QUOTE(usherken @ Mar 18 2015, 11:02 AM)
Yeah. Really don't know what they are playing at. Plus the package they were offering were crazy in the first place. 18 years guaranteed rental return. Who the heck does that!?
*
its a conjob in the first place lor, they want jack the price high up in that small land plot of commercial land, hence high psf justified with long term GRR--> rubbish
SUSNew Klang
post Mar 18 2015, 01:32 PM

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There was another failed project that sold with GRR. It was Platinum now renamed Maisson.
usherken
post Mar 18 2015, 01:37 PM

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QUOTE(New Klang @ Mar 18 2015, 01:32 PM)
There was another failed project that sold with GRR. It was Platinum now renamed Maisson.
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At least the buyers get a reprieve after 8 yeras lor. This boss, i think even harder lah. Hotel plus in Klang. Who wants to take over??? lol
SUSNew Klang
post Mar 18 2015, 01:47 PM

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QUOTE(usherken @ Mar 18 2015, 01:37 PM)
At least the buyers get a reprieve after 8 yeras lor. This boss, i think even harder lah. Hotel plus in Klang. Who wants to take over??? lol
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It is more like 11 years now. Property prices in general has increased about triple the launch prices and it makes the taking over worth while.

How many units were actually sold?


SephirothLee
post Mar 18 2015, 03:03 PM

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QUOTE(New Klang @ Mar 18 2015, 02:47 PM)
It is more like 11 years now. Property prices in general has increased about triple the launch prices and it makes the taking over worth while.

How many units were actually sold?
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THe boss already doubled the price when it is launched.... i guess another 20 years maybe?
Bee am
post Mar 18 2015, 03:03 PM

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QUOTE(SephirothLee @ Mar 17 2015, 08:15 AM)
i live nearby la, lol... i heard sazean sold most its land to wct, the work been damn slow i been observing for some time, i used to want to buy their service apartment.
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Huh? There sell service apartment? U mean they 5 storey shop apartment inside d pendamar road?

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post Mar 18 2015, 03:11 PM

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QUOTE(Bee am @ Mar 18 2015, 04:03 PM)
Huh? There sell service apartment? U mean they 5 storey shop apartment inside d pendamar road?
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The service apartment was in the planning and was in fact supposed to be launched with a price tag 330k at end of the year 2013. They gave me the unit pricing as well.
In the end, it did go go through for wut ever reason.
Babizz
post Mar 18 2015, 05:06 PM

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QUOTE(usherken @ Mar 17 2015, 08:02 PM)
Yeah. Really don't know what they are playing at. Plus the package they were offering were crazy in the first place. 18 years guaranteed rental return. Who the heck does that!?
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ya but they were smarter than most of us tongue.gif tongue.gif .. they know MOST ppl dun understand tht property is measured in psf price.. i think a lot of young ppl bought into this. Most buyers like to see guaranteed return lor.. 18yrs is d longest ive seen ever..

Comments frm the FB page below:
Hotwer now in liquidation & at the infant stage of the process. Last Sunday there is a meeting by the liquidator KMPG Advisory to brief the creditors. I am sure all the purchasers have received letters from the liquidators for submission of S&P & other related documents to prove ownership. Understand there is an association of purchasers being formed. Appreciate the association office bearers or members to advise interested parties to join to protect common interests.

This post has been edited by Babizz: Mar 18 2015, 05:07 PM
Babizz
post Mar 18 2015, 05:08 PM

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Comments frm FB: Since cannot get 100% consent from buyers to agree over the terms set by developer's partner to resume the project, our investment is stuck here.. I am owner of 22-18.

usherken
post Mar 19 2015, 08:15 AM

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QUOTE(Babizz @ Mar 18 2015, 05:08 PM)
Comments frm FB: Since cannot get 100% consent from buyers to agree over the terms set by developer's partner to resume the project, our investment is stuck here.. I am owner of 22-18.
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Babi kor, what FB page is this? Boss owners ah? If liquidate then what happens?? The developer got enough assets to cover for all their debts?
Babizz
post Mar 20 2015, 11:58 AM

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QUOTE(usherken @ Mar 18 2015, 06:15 PM)
Babi kor, what FB page is this? Boss owners ah? If liquidate then what happens?? The developer got enough assets to cover for all their debts?
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jus boss fb page.. u try searching boss service suites..

If liquidate mus go thru long process incl selling off assets.. 100% sure nt enuf to cover.. if they cn cover 50% also consider good..they must repay d debt according to a list with banks n fully collaterized loans being d highest..
mroctopus
post Mar 21 2015, 11:55 AM

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Was invited to their vip preview. Was skeptical about it since budget hotel is oversupplied in klang and the project is not in major cbd area. Pass by few days ago and it remind me about it when I saw it is in abandoned state.
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post Jun 9 2015, 08:24 PM

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Passed by this abandoned building last week on the way to eat bkt. This project got few Hong Kong TVB celebrities as ambassadors. LOL. Pity those buyers ........




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Babizz
post Jun 9 2015, 09:19 PM

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QUOTE(KimiLau @ Jun 9 2015, 06:24 AM)
Passed by this abandoned building last week on the way to eat bkt. This project got few Hong Kong TVB celebrities as ambassadors. LOL. Pity those buyers ........
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Which BKT u ate ah? this is the newest eyesore in Klang.. of cos the Acmar hotel is still the most visible eyesore!
Kicimiao66cc
post Jun 9 2015, 09:32 PM

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QUOTE(Babizz @ Jun 9 2015, 09:19 PM)
Which BKT u ate ah? this is the newest eyesore in Klang.. of cos the Acmar hotel is still the most visible eyesore!
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Abandon already?? Pity those agent too.
samkps
post Jun 9 2015, 09:37 PM

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My my.... how many percent of progress payment already released to the developer? doh.gif doh.gif
Kicimiao66cc
post Jun 9 2015, 09:45 PM

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QUOTE(samkps @ Jun 9 2015, 09:37 PM)
My my.... how many percent of progress payment already released to the developer?  doh.gif  doh.gif
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Guess at least 45%
samkps
post Jun 9 2015, 10:11 PM

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QUOTE(Kicimiao66cc @ Jun 9 2015, 09:45 PM)
Guess at least 45%
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Gosh, means about 100 - 150k gone to salty seawater already... pity... really sucks developer.... doh.gif doh.gif
SUSInF.anime
post Jun 9 2015, 10:17 PM

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Bank also have big responsible in this case
Babizz
post Jun 10 2015, 07:57 AM

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QUOTE(Kicimiao66cc @ Jun 9 2015, 07:32 AM)
Abandon already?? Pity those agent too.
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Maybe 1 yr abandon d.. Heard the owner run away to china..

QUOTE(samkps @ Jun 9 2015, 08:11 AM)
Gosh, means about 100 - 150k gone to salty seawater already... pity... really sucks developer....  doh.gif  doh.gif
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I think the progress payment is more than 45%

QUOTE(InF.anime @ Jun 9 2015, 08:17 AM)
Bank also have big responsible in this case
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I heard they nvr really got bank loan n finance using internal funds, ahlong n progress payments.. Rmbr seeing their article asking ppl to give them chansi to build a sore thumb looking building icon_rolleyes.gif icon_rolleyes.gif
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post Jun 10 2015, 12:14 PM

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last week got a news landed in klang not yet complete already got CCC,

even the wall also not finish.

know which project??
Mr.JJchampian
post Jun 10 2015, 01:41 PM

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So seriously wall also haven't finish then CCC... Klang punya developer really like a boss a ?
Mr.JJchampian
post Jun 10 2015, 01:42 PM

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This project really pity to owner ... Hope got developer will take up this project ...
ImUrDaddY
post Jun 10 2015, 01:48 PM

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anyhow any more new upcoming project medium cost apartment in klang? costing around 200k - 250k? heard Bandar parkalnds beside orchis apartment wct gonna build another medium cost? any1ccan verify?

oops sry for highjacking this thread lol
KimiLau
post Jun 10 2015, 01:49 PM

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Quite a lot of buyers not from klang valley, some from Penang and johor.
They did not visit the site some more, just listened to those agents and bought it in the property fair.

Paying interest to bank for nothing every month. Pity them, simply buy without doing some research.

If the project is good, no need to show in property fair lah...not even launch already fully booked.
forever1979
post Jun 10 2015, 09:46 PM

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i always concern with all those guarantee return/rental product ...

Mr.JJchampian
post Jun 11 2015, 11:53 AM

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Because they giving a good GRR... Many investor hear GRR all run for it ...
^Ware^wolf
post Jun 11 2015, 01:16 PM

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QUOTE(Babizz @ Jun 9 2015, 09:19 PM)
Which BKT u ate ah? this is the newest eyesore in Klang.. of cos the Acmar hotel is still the most visible eyesore!
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they promised to finish the project by 4th quarter 2016 ....google for more info..news in The Edge icon_rolleyes.gif
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post Jun 12 2015, 10:06 AM

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QUOTE(^Ware^wolf @ Jun 10 2015, 11:16 PM)
they promised to finish the project by 4th quarter 2016 ....google for more info..news in The Edge icon_rolleyes.gif
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Yes any person may bliv that it will be completed but even their recent palm garden apartment also delayed many yrs..Ampang project also no sign of revamp.. drool.gif Avoid acmar at all costs!!
^Ware^wolf
post Jun 12 2015, 10:18 AM

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QUOTE(Babizz @ Jun 12 2015, 10:06 AM)
Yes any person may bliv that it will be completed but even their recent palm garden apartment also delayed many yrs..Ampang project also no sign of revamp..  drool.gif Avoid acmar at all costs!!
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but they said they have get credit facility from MBSB ... shocking.gif
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post Jun 12 2015, 11:19 AM

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QUOTE(Babizz @ Jun 12 2015, 10:06 AM)
Yes any person may bliv that it will be completed but even their recent palm garden apartment also delayed many yrs..Ampang project also no sign of revamp..  drool.gif Avoid acmar at all costs!!
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agreed.. check on the "proven" acmar track record.. look at how many abandon project around BBK area...
usherken
post Jun 12 2015, 11:34 AM

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QUOTE(Latio @ Jun 12 2015, 11:19 AM)
agreed.. check on the "proven" acmar track record.. look at how many abandon project around BBK area...
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Can see they resuming construction d. Cranes and shit coming up again. But dunno if will terkandas again la lol
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post Jun 12 2015, 11:43 AM

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QUOTE(usherken @ Jun 12 2015, 11:34 AM)
Can see they resuming construction d. Cranes and shit coming up again. But dunno if will terkandas again la lol
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which project u refer to bro, boss or acmar?
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post Jun 12 2015, 02:00 PM

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QUOTE(^Ware^wolf @ Jun 11 2015, 08:18 PM)
but they said they have get credit facility from MBSB ... shocking.gif
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MSBS is a licensed ahlong.. Anybody can get loan from them but HIGH interest so its easy to lose money n then abandon projek

QUOTE(Latio @ Jun 11 2015, 09:19 PM)
agreed.. check on the "proven" acmar track record.. look at how many abandon project around BBK area...
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So many of those plots are a waste of land.. tht area commercial quite good n many insurance firms n banks also.. The big abandon BBK Business Park could have been good for more commie+apartments above.. even the landed in BBJ heights dnt look good anymore.. Their school also ppl complain btr go public school cry.gif cry.gif

QUOTE(usherken @ Jun 11 2015, 09:34 PM)
Can see they resuming construction d. Cranes and shit coming up again. But dunno if will terkandas again la lol
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No banks will finance them n it would be a waste to start work n terkandas again hmm.gif hmm.gif
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post Jun 12 2015, 02:24 PM

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QUOTE(Babizz @ Jun 12 2015, 02:00 PM)
MSBS is a licensed ahlong.. Anybody can get loan from them but HIGH interest so its easy to lose money n then abandon projek
So many of those plots are a waste of land.. tht area commercial quite good n many insurance firms n banks also.. The big abandon BBK Business Park could have been good for more commie+apartments above.. even the landed in BBJ heights dnt look good anymore.. Their school also ppl complain btr go public school  cry.gif  cry.gif
No banks will finance them n it would be a waste to start work n terkandas again  hmm.gif  hmm.gif
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lets wait and see ... MBSB and all other financial institution is license ahlong....
usherken
post Jun 12 2015, 02:58 PM

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QUOTE(Latio @ Jun 12 2015, 11:43 AM)
which project u refer to bro, boss or acmar?
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Talking about acmar. Boss prolly will wind up dead for years before being restarted again.
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post Jun 12 2015, 08:50 PM

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QUOTE(Babizz @ Jun 12 2015, 02:00 PM)
MSBS is a licensed ahlong.. Anybody can get loan from them but HIGH interest so its easy to lose money n then abandon projek
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If a company with good credit profile, they won't borrow ftom MBSB due to high borrowing cost. So those that resort to MBSB can roughly tell how good is the credit standing of the borrowers.
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post Jun 12 2015, 10:13 PM

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QUOTE(Jasoncat @ Jun 12 2015, 08:50 PM)
If a company with good credit profile, they won't borrow ftom MBSB due to high borrowing cost.  So those that resort to MBSB can roughly tell how good is the credit standing of the borrowers.
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that's funny and embarrassing because when my loan for a kl city project was rejected, the SA told me to try MBSB. I must be nearly broke brows.gif
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post Jun 12 2015, 10:19 PM

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QUOTE(HarpArtist @ Jun 12 2015, 10:13 PM)
that's funny and embarrassing because when my loan for a kl city project was rejected, the SA told me to try MBSB. I must be nearly  broke brows.gif
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Pls don't get offended. There could be many reasons why your loan is rejected and the SA was just simply makimg a suggestion.
HarpArtist
post Jun 12 2015, 10:21 PM

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QUOTE(Jasoncat @ Jun 12 2015, 10:19 PM)
Pls don't get offended.  There could be many reasons why your loan is rejected and the SA was just simply makimg a suggestion.
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not offended at all la. many reasons:main one being I'm broke brows.gif
Babizz
post Jun 12 2015, 10:32 PM

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QUOTE(Jasoncat @ Jun 12 2015, 06:50 AM)
If a company with good credit profile, they won't borrow ftom MBSB due to high borrowing cost.  So those that resort to MBSB can roughly tell how good is the credit standing of the borrowers.
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Yes, they are the real high risk high return type bank.. i 100% confirm acmar wont get loans from many banks due to their track record..

QUOTE(HarpArtist @ Jun 12 2015, 08:13 AM)
that's funny and embarrassing because when my loan for a kl city project was rejected, the SA told me to try MBSB. I must be nearly  broke brows.gif
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M Cty project many loan reject mah.. I've yet to see MBSB loan reject.. They hold ur EPF statement ransom brows.gif brows.gif

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post Jun 13 2015, 01:36 AM

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QUOTE(Babizz @ Jun 12 2015, 02:00 PM)
MSBS is a licensed ahlong.. Anybody can get loan from them but HIGH interest so its easy to lose money n then abandon projek
So many of those plots are a waste of land.. tht area commercial quite good n many insurance firms n banks also.. The big abandon BBK Business Park could have been good for more commie+apartments above.. even the landed in BBJ heights dnt look good anymore.. Their school also ppl complain btr go public school  cry.gif  cry.gif
No banks will finance them n it would be a waste to start work n terkandas again  hmm.gif  hmm.gif
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agree, actually BBK is a nice location with alot of bank around.

if acmar been take over, this place sure ONG
Babizz
post Jun 14 2015, 12:01 PM

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QUOTE(jinsailoo @ Jun 12 2015, 11:36 AM)
agree, actually BBK is a nice location with alot of bank around.

if acmar been take over, this place sure ONG
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Yes good food thr also although the commie area not as wong as Bukit Tinggi but stil good for those BBK businessman/locals brows.gif brows.gif

Hope MPK dun approve any project like boss anymore.. Acmar hotel moving now but super slow.. think will be abandon again icon_question.gif icon_question.gif icon_question.gif
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post Jun 14 2015, 04:32 PM

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what is mpk?
jinsailoo
post Jun 15 2015, 10:55 AM

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QUOTE(JamesPond @ Jun 14 2015, 04:32 PM)
what is mpk?
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pembandaran Klang
peri peri
post Jul 23 2015, 10:17 AM

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who bought this? anything in Klang, stay away
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post Jul 23 2015, 10:39 AM

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QUOTE(peri peri @ Jul 23 2015, 10:17 AM)
who bought this? anything in Klang, stay away
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why so resist to "ba sang"??
peri peri
post Jul 23 2015, 10:47 AM

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QUOTE(ZackQ @ Jul 23 2015, 10:39 AM)
why so resist to "ba sang"??
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bad soil settlement due to nature terrain near port. too far away. no attraction there.
owj
post Jul 23 2015, 10:48 AM

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Came out in today's Star. High court has appointed liquidator
jinsailoo
post Jul 23 2015, 11:38 AM

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QUOTE(owj @ Jul 23 2015, 10:48 AM)
Came out in today's Star. High court has appointed liquidator
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no much defference, my friend work inside and the account told bank already kosong,

the staff just make sure every staff salary paid then bye bye

This post has been edited by jinsailoo: Jul 23 2015, 11:39 AM
Latio
post Jul 23 2015, 12:06 PM

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Today news!

http://www.thestar.com.my/Metro/Community/...of-development/
nookie188
post Jul 23 2015, 12:18 PM

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anyone knows how many percent was sold?

really kasihan the buyers...

maybe there will be more of such cases in future as more and more tom dirk and harry are going into property development...


dlyw1103
post Jul 23 2015, 01:20 PM

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there is a saying high risk high return... vice versa in such case
Clement1001
post Jul 23 2015, 02:07 PM

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QUOTE(jinsailoo @ Jul 23 2015, 11:38 AM)
no much defference, my friend work inside and the account told bank already kosong,

the staff just make sure every staff salary paid then bye bye
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Then it's tough to find a proper liquidator and continue the reconstruction, unless buyer willing to pay more and cut all the packages originally promised. hmm.gif
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post Jul 23 2015, 02:09 PM

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QUOTE(Clement1001 @ Jul 23 2015, 02:07 PM)
Then it's tough to find a proper liquidator and continue the reconstruction, unless buyer willing to pay more and cut all the packages originally promised. hmm.gif
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from the news said it is 7% return permonth !!!

1 year can cover the lost already, where got such big frog hopping around?
Ero-Sennin
post Jul 23 2015, 02:23 PM

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QUOTE(Ero-Sennin @ Mar 11 2013, 12:05 AM)
I'd never invest in such property with such ridiculous sales package...a good property does not need to have such sales package to sale...just my 2 cents...
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I did advise before 2 years back...even some of my prospect went blindly and purchase because of the sweet GRR deal given. I told them about the SPA hidden clause and the risk of non HDA development. They ignore my advise and purchased it.
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post Jul 23 2015, 02:25 PM

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QUOTE(Ero-Sennin @ Jul 23 2015, 02:23 PM)
I did advise before 2 years back...even some of my prospect went blindly and purchase because of the sweet GRR deal given. I told them about the SPA hidden clause and the risk of non HDA development. They ignore my advise and purchased it.
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in other words, you are saying "i told you so"?
Ero-Sennin
post Jul 23 2015, 02:29 PM

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QUOTE(kochin @ Jul 23 2015, 02:25 PM)
in other words, you are saying "i told you so"?
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I can't give direct answer to my prospect those days. It will affect on my work ethical towards other developer's reputation and product. So in-directly I gave them hints.
forever1979
post Jul 24 2015, 07:36 AM

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look at the photo, the structure already up to top.
This also can be abandoned.
Too bad for those buyers.
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post Jul 24 2015, 08:08 AM

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QUOTE(peri peri @ Jul 22 2015, 08:47 PM)
bad soil settlement due to nature terrain near port. too far away. no attraction there.
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klang is as far as semenyih/kajang to klcc but many job/sme's in klang from my last visit esp in bukit tinggi n also BBK areas.. problem there is relatively high crime rate like some parts of pj cry.gif cry.gif cry.gif

but boss was never viable as a 5***** hotel.. this is what happens when ppl dnt do their due dil n jus buy into GRR schemes icon_question.gif icon_question.gif icon_question.gif

This post has been edited by Babizz: Jul 24 2015, 08:27 AM
natman
post Jul 24 2015, 08:29 AM

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This project not selling well right ?
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post Jul 24 2015, 08:52 AM

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hope this project will start work again soon.......
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post Jul 24 2015, 10:19 AM

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QUOTE(forever1979 @ Jul 24 2015, 07:36 AM)
look at the photo, the structure already up to top.
This also can be abandoned.
Too bad for those buyers.
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if from start abandon cannot get much cash leh bro,

normally the structure complete then only abandon to get max cash
CAFE21
post Jul 24 2015, 03:29 PM

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How much has the developer claimed before it become abandoned?
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post Nov 16 2015, 12:50 AM

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QUOTE(peri peri @ Jul 23 2015, 10:17 AM)
who bought this? anything in Klang, stay away
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Agreed. There are many abandoned building in Klang especialy highrise tower. People here do business are very short term oriented and play cheating, we call that Chinaman entrepreneur which got many in Klang. There are rich but damn stingy. That is why Klang is not able to develop.

I stay in Klang since young and I am very sad to say that but it is the fact.

Just be extra careful to buy property or do business in Klang. Do more research otherwise buy at your own risk!
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post Nov 17 2015, 03:17 PM

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QUOTE(Kim888 @ Nov 16 2015, 12:50 AM)
Agreed. There are many abandoned building in Klang especialy highrise tower. People here do business are very short term oriented and play cheating, we call that Chinaman entrepreneur which got many in Klang. There are rich but damn stingy. That is why Klang is not able to develop.

I stay in Klang since young and I am very sad to say that but it is the fact.

Just be extra careful to buy property or do business in Klang. Do more research otherwise buy at your own risk!
*
nod.gif
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post Jun 24 2016, 12:59 PM

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sad case
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QUOTE(Ero-Sennin @ Jul 23 2015, 02:23 PM)
I did advise before 2 years back...even some of my prospect went blindly and purchase because of the sweet GRR deal given. I told them about the SPA hidden clause and the risk of non HDA development. They ignore my advise and purchased it.
*
Sadly how this kind of project can even started. By the way may I know what is SPA hidden clause and non HDA development?
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post Nov 4 2016, 08:48 PM

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QUOTE(airline @ Jan 3 2011, 07:42 AM)
this is the type of scheme or development i would stay far away from.
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Yes.
Nymphetamine666
post Nov 4 2016, 09:22 PM

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I almost bought 1 unit back in 2012 due to their sweet GRR. Luckily im not...pity those buyers..
BEANCOUNTER
post Nov 4 2016, 09:54 PM

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QUOTE(takemehomepls @ Nov 4 2016, 05:49 PM)
Sadly how this kind of project can even started. By the way may I know what is SPA hidden clause and non HDA development?
*
Developer doesnt have to complete the work before claim for completed work unlike hda spa.

They can claim 80% of selling price even thought only completed 30%.
icemanfx
post Nov 4 2016, 10:51 PM

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QUOTE(Nymphetamine666 @ Nov 4 2016, 09:22 PM)
I almost bought 1 unit back in 2012 due to their sweet GRR. Luckily im not...pity those buyers..
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Most people are blinded by greed.

heavensea
post Nov 4 2016, 11:17 PM

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Klang bak ku teh yes, high rise no.

I wonder what are the lost of those buyers?
Entire housing loan amount or just dp+ numerous fees?

heavensea
post Nov 4 2016, 11:18 PM

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QUOTE(airline @ Jan 3 2011, 07:42 AM)
this is the type of scheme or development i would stay far away from.
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Necro, but sifu found...
MonGJiHyo
post Nov 4 2016, 11:57 PM

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The boss abandon the building like a boss.. dry.gif
heavensea
post Nov 5 2016, 12:31 AM

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QUOTE(InF.anime @ Jun 9 2015, 10:17 PM)
Bank also have big responsible in this case
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Why ler?

QUOTE(Mr.JJchampian @ Jun 11 2015, 11:53 AM)
Because they giving a good GRR... Many investor hear GRR all run for it ...
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When I hear abt grr = x mood ad, cabut first.
Especially those rent out hotel concept.
forever1979
post Nov 5 2016, 05:44 AM

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In Malaysia, GRR could means greater risk ....
heavensea
post Nov 5 2016, 07:42 AM

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QUOTE(forever1979 @ Nov 5 2016, 05:44 AM)
In Malaysia, GRR could means greater risk ....
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Why do u think so?
forever1979
post Nov 5 2016, 06:39 PM

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QUOTE(heavensea @ Nov 5 2016, 07:42 AM)
Why do u think so?
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u need to check who is given the GRR, most of the time is another SPV (Special purpose vehicle/company). paid up may be RM2.

i do know whether are there any GRR programme that is very successful ??

big company like Setia, IJM, Tan & Tan never in this biz model..

but many resort in port dickson, melaka are all into this....
heavensea
post Nov 5 2016, 06:45 PM

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QUOTE(forever1979 @ Nov 5 2016, 06:39 PM)
u need to check who is given the GRR, most of the time is another SPV (Special purpose vehicle/company). paid up may be RM2.

i do know whether are there any GRR programme that is very successful ??

big company like Setia, IJM, Tan & Tan never in this biz model..

but many resort in port dickson, melaka are all into this....
*
Yes and most of those resorts are leng yeh and awaiting saupei... no matter they want to accept it or not.

Paid up rm2 to give false info? Lolz

This post has been edited by heavensea: Nov 5 2016, 06:45 PM
takemehomepls
post Nov 10 2016, 11:49 AM

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QUOTE(forever1979 @ Nov 5 2016, 06:39 PM)
u need to check who is given the GRR, most of the time is another SPV (Special purpose vehicle/company). paid up may be RM2.

i do know whether are there any GRR programme that is very successful ??

big company like Setia, IJM, Tan & Tan never in this biz model..

but many resort in port dickson, melaka are all into this....
*
Can PM any example?
hhho
post Nov 10 2016, 01:07 PM

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QUOTE(takemehomepls @ Nov 10 2016, 11:49 AM)
Can PM any example?
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As requested,

https://forum.lowyat.net/topic/1851930/+160
takemehomepls
post Nov 10 2016, 01:55 PM

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QUOTE(hhho @ Nov 10 2016, 01:07 PM)
Thanks for the sharing. I went to Malacca not long ago, I don't mind looking at those mall as it provides a city feel. But still I believe the main purpose of going Malacca is to enjoy the nostalgia of small town
heavensea
post Nov 10 2016, 02:15 PM

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QUOTE(takemehomepls @ Nov 10 2016, 01:55 PM)
Thanks for the sharing. I went to Malacca not long ago, I don't mind looking at those mall as it provides a city feel. But still I believe the main purpose of going Malacca is to enjoy the nostalgia of small town
*
Actually I was attract by this project, but I don't have bullet. It's lucky for me..
myBlanket
post Nov 10 2016, 02:57 PM

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QUOTE(heavensea @ Nov 10 2016, 02:15 PM)
Actually I was attract by this project, but I don't have bullet. It's lucky for me..
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So this project really hopeless already? Do the existing purchasers still continue to pay interest from the day it abandon till present?
heavensea
post Nov 10 2016, 03:06 PM

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QUOTE(myBlanket @ Nov 10 2016, 02:57 PM)
So this project really hopeless already? Do the existing purchasers still continue to pay interest from the day it abandon till present?
*
They have to, don't they?
Ask for lad lo, but god know when Hatten gonna pay them.
Grr projects = lai yeh.
tthm
post Mar 30 2017, 10:41 AM

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PETALING JAYA (March 27): The Boss Service Suites (pictured) is possibly seeing some light at the end of the tunnel as several property developers have offered to step in to rescue the abandoned development in Klang.

According to one of the project’s unit purchasers who preferred to remain anonymous, there are three developers who have expressed their interest in taking over the project and the purchasers’ association has recently shortlisted one of them as the potential white knight during The Boss Purchasers’ Association’s Annual General Meeting which was held on March 18, 2017.

“The AGM lasted for four hours, a total of 110 purchasers and proxies have attended the meeting to discuss and vote for the suitable company to undertake the revival project,” he told TheEdgeProperty.com via a phone interview.

According to him, the liquidator for The Boss, KPMG Deal Advisory Sdn Bhd, is now in the midst of fine tuning the terms and conditions for the revival plan.

“The next step is for the white knight to talk with the billing bank, which is also currently the owner of the project, on the redemption sum,” he explained.

Once an agreement has been achieved by the bank and the white knight company, the purchasers’ association will organise an Extraordinary General Meeting to vote on the revival plan.

“To begin the revival plan, we need at least 75% of members’ votes in value or 61% of members’ votes in numbers,” he added.

Currently, The Boss Purchasers’ Association has 250 members.

If everything goes well, the revival plan for the project should start within two to three months.

The Boss Service Suites, which is located along Jalan Batu Tiga Lama, Klang, is a high-rise residential hotel suites development which was launched in 2010. It was declared abandoned mid-2015.

The development comprises 377 units of hotel suites and 62 units of retail units which offered guaranteed rental returns of 7% to 8%.

According to the purchaser, before the project was abandoned, it had recorded a take-up rate of 80%, which meant that the developer should have had sufficient funds to complete the project.

However, the construction of the 28-floor tower stopped at the 26th floor. By the time it was declared abandoned, the retail units were about 90% completed.

Sos - http://www.theedgeproperty.com.my/content/...s-project-klang

Going to be less 1 abandon building in Klang soon.
wkkor
post Mar 30 2017, 10:49 AM

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good news for the owner... hopefully this time rescue owner from nightmare...
intoxicat
post Mar 30 2017, 01:45 PM

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This project from day 1 was a joke. The developer principal was a young man in his early twenties with no experience whatsoever in construction and development, and tried to leverage on a certain now doomed developer branding to sell.

Look at this this write-up then :-

http://www.theedgeproperty.com.my/content/...big-plans-klang

I really pity all the buyers.
SquareFt
post Mar 30 2017, 01:54 PM

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QUOTE(intoxicat @ Mar 30 2017, 01:45 PM)
This project from day 1 was a joke. The developer principal was a young man in his early twenties with no experience whatsoever in construction and development, and tried to leverage on a certain now doomed developer branding to sell.

Look at this this write-up then :-

http://www.theedgeproperty.com.my/content/...big-plans-klang

I really pity all the buyers.
*
Wow scheduled for completion in 2013, now already 4 years.. being serving interest for nothing?
Clement1001
post Mar 30 2017, 03:01 PM

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Most probably the white knight will negotiate with purchaser on;
1)Abolish GRR or reduce
2)pay whatever outstanding to the banker, including those DIBS which developer doesn't pay.
3) no more free maintenance
4)no more guarantee appreciation value of 9%
5) worst of all need to top up from the original spa price.


SUSempatTan
post Mar 30 2017, 03:18 PM

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QUOTE(intoxicat @ Mar 30 2017, 01:45 PM)
This project from day 1 was a joke. The developer principal was a young man in his early twenties with no experience whatsoever in construction and development, and tried to leverage on a certain now doomed developer branding to sell.

Look at this this write-up then :-

http://www.theedgeproperty.com.my/content/...big-plans-klang

I really pity all the buyers.
*
Unker Mammoth Empire... ...
SquareFt
post Mar 30 2017, 03:26 PM

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QUOTE(Clement1001 @ Mar 30 2017, 03:01 PM)
Most probably the white knight will negotiate with purchaser on;
1)Abolish GRR or reduce
2)pay whatever outstanding to the banker, including those DIBS which developer doesn't pay.
3) no more free maintenance
4)no more guarantee appreciation value of 9%
5) worst of all need to top up from the original spa price.
*
I guess when someone is desperate enough, they will grab onto any lifeline they can.
forever1979
post Mar 31 2017, 05:31 AM

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now only i realized the person who run the company also owns Goodnite brand mattress

then should be cash flow okay la or just character problem ?
heavensea
post Apr 6 2017, 02:40 PM

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QUOTE(edyek @ Feb 7 2011, 11:27 AM)
Ah, thank you for the advice. Have not purchase the unit yet as many of my west malaysian friends told me the same thing. Over priced.
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Necromancer here, what happened to your friend friend developer?? Why abandoned....
Donald Trump
post Apr 7 2017, 11:07 AM

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QUOTE(tthm @ Mar 30 2017, 10:41 AM)
PETALING JAYA (March 27): The Boss Service Suites (pictured) is possibly seeing some light at the end of the tunnel as several property developers have offered to step in to rescue the abandoned development in Klang.

According to one of the project’s unit purchasers who preferred to remain anonymous, there are three developers who have expressed their interest in taking over the project and the purchasers’ association has recently shortlisted one of them as the potential white knight during The Boss Purchasers’ Association’s Annual General Meeting which was held on March 18, 2017.

“The AGM lasted for four hours, a total of 110 purchasers and proxies have attended the meeting to discuss and vote for the suitable company to undertake the revival project,” he told TheEdgeProperty.com via a phone interview.

According to him, the liquidator for The Boss, KPMG Deal Advisory Sdn Bhd, is now in the midst of fine tuning the terms and conditions for the revival plan.

“The next step is for the white knight to talk with the billing bank, which is also currently the owner of the project, on the redemption sum,” he explained.

Once an agreement has been achieved by the bank and the white knight company, the purchasers’ association will organise an Extraordinary General Meeting to vote on the revival plan.

“To begin the revival plan, we need at least 75% of members’ votes in value or 61% of members’ votes in numbers,” he added.

Currently, The Boss Purchasers’ Association has 250 members.

If everything goes well, the revival plan for the project should start within two to three months.

The Boss Service Suites, which is located along Jalan Batu Tiga Lama, Klang, is a high-rise residential hotel suites development which was launched in 2010. It was declared abandoned mid-2015.

The development comprises 377 units of hotel suites and 62 units of retail units which offered guaranteed rental returns of 7% to 8%.

According to the purchaser, before the project was abandoned, it had recorded a take-up rate of 80%, which meant that the developer should have had sufficient funds to complete the project.

However, the construction of the 28-floor tower stopped at the 26th floor. By the time it was declared abandoned, the retail units were about 90% completed.

Sos - http://www.theedgeproperty.com.my/content/...s-project-klang

Going to be less 1 abandon building in Klang soon.
*
not so easy....to get to the site and start work will not be an easy task...or should i say not possible

guybrush
post Nov 19 2017, 09:50 AM

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QUOTE(forever1979 @ Mar 31 2017, 05:31 AM)
now only i realized the person who run the company also owns Goodnite brand mattress

then should be cash flow okay la or just character problem ?
*
Unfortunately, the person you had mentioned passed away I think July this year. Saw the obituaries in the newspaper.

This post has been edited by guybrush: Nov 19 2017, 11:59 AM
geekofIT
post Mar 20 2019, 05:42 PM

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QUOTE(guybrush @ Nov 19 2017, 09:50 AM)
Unfortunately, the person you had mentioned passed away I think July this year. Saw the obituaries in the newspaper.
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sorry, necromancer here.

just needed to post this for reference.

https://www.heavenaddress.com/CHEW-KAR-CHON...718231/obituary
BoonieTan
post Mar 20 2019, 10:18 PM

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QUOTE(geekofIT @ Mar 20 2019, 05:42 PM)
sorry, necromancer here.

just needed to post this for reference.

https://www.heavenaddress.com/CHEW-KAR-CHON...718231/obituary
*
One year later and the project still remains abandoned.
geekofIT
post Mar 21 2019, 09:07 AM

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QUOTE(BoonieTan @ Mar 20 2019, 10:18 PM)
One year later and the project still remains abandoned.
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Yes, very sad for the buyers.

but can't blame them, the deal was very attractive and creative. not many developers in klang do this. attracted many people from outside of klang.

Klang people who stay here knows that location is really shitty, and overpriced too.
findingdory
post Jun 14 2019, 08:32 AM

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Curious about the revival plan, passed by for few years and always thought the building is not safe and going to collapse
pilotHans
post Jun 14 2019, 08:51 AM

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QUOTE(MonGJiHyo @ Nov 4 2016, 11:57 PM)
The boss abandon the building like a boss.. dry.gif
*
somehow reminds me of that series Black Monday, i cant recall the name... was it Martingale betting style...its like u either u win big or loose big n pack ur bags & run sweat.gif
kiampa guy
post Jun 14 2019, 09:29 AM

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A person whom I encounteered before dumped 30% of purchase price (cash)into buying this property. Now his money is as good as throwing money into the sea.
bangolufsen
post Sep 23 2020, 09:54 AM

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cy91
post Sep 23 2020, 12:18 PM

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Forever abandoned now? Who in the right mind will throw money into buying hotel room at Klang
gcheelim
post Oct 9 2022, 12:33 PM

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https://www.facebook.com/HokkienEngchoonHuy...xbyH13a5Br8mzml

White knight coming soon?
Aldo-Kirosu
post Oct 9 2022, 07:21 PM

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12year already. This project location and the concept look unrealistic. GRR idea with such small unit at that kind of area (KLang). Especially 12year ago, klang still have plenty of terrace project launching. Now even more competitor project like I-City at there. If refurbished to be small size rumah selangorku with cheaper price maybe still relavant. But if ready white knight arrived, at least investor before can get the house.
Giant
post Dec 7 2022, 01:15 PM

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how is the status of this project now ?

 

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