Could be due to Sunday and CNY.

since many many months ago .....

anyone done due diligence on the developer, SM Land? noted the MD got datukship recently.....

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This post has been edited by 1282009: Jan 29 2012, 11:22 PM

How the bank approved the loan until 90% if the local authority for the project not yet approved .?

Usually banks will calculate thier risk based on the project success or not .

This is how a lot of abandoned project happened. Financing bank normally easier to approve the loan up to certain quota then full. The rest hard to get loan.

Hope this won't become another abandoned Platinum Damansara condo in Ara Damansara. Below analysis for sharing.

Source: http://www.propwall.my/ara_damansara/platinum_damansara
Platinum Damansara, a project developed by Lagenda Group which was supposedly completed by 2007, is currently abandoned despite several efforts to rally support from Ara Damansara resident to revive the project. It has been sitting for over 4 years in the vicinity, luring many unwanted guests and activities.

Many residents who have bought the unit that prior to completion were eagerly following the development, yet were dismayed when progress were slowing down to a complete halt eventually. When they approached the developer of Platinum Damansara, they were given many excuses such as sewage problem, awaiting approval from the government or even blueprint errors. Many believe it is a legal scam and are furious over the developer.

Certain parties also complain that the agreement drafters are too one sided, whereby it over protects the developer and management company to the extent where it is virtually impossible to sue them if things go wrong. Buyers have been used as financier, while the developer benefits from the cash flow with reduced risk.

As of February 2011, a message was forwarded to buyers on behalf of the developing company regarding their initiative to revive the above abandoned project. They claim that they would attach an advertisement of the property up on STAR newspaper.

However, buyers were required to submit a number of documents, however there was a poor response, up to 100 buyers instead of the expected 600 buyers. It seems that yet another initiative taken by the developer has proved to be futile. To date, Platinum Damansara still remains abandoned and no progress have been witnessed.

hi all, may i know what's the current psf of this project?

i remember there is 2 size ; around 600sqft and 1100 sqft ..not sure the exact size ..

Refer to http://www.propwall.my/ara_damansara/eve_suite

Built-up
Serviced Apartment: 680 sf ; 1,065 sf
Retail: 4,121 ; 6,854 sf

Launch Price
Studio: From RM380,800 (From RM560 psf)
2-Bedroom Suite: From RM565,000 (From RM530 psf)
Retail Shop: From RM2,133,220

thanks for the info!

I believe MKLand is not a company like Lagenda Group.

Read from newspaper near FAS area going to built another tunnel and road to reduce traffic jam
During peak hour.gd for the owner who invest in eve suite. Hope it move.

The site of EVE Suites is now a big hole? Wow fast!

This morning




view pacific development here

This post has been edited by blackJax: Feb 1 2012, 08:58 AM

can u paste the URL?

OMG no progress at all???

still CNY holiday-ing. i guess.

did you notice any workers at the site

yes. they are working and very noisy yesterday

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Added on February 2, 2012, 11:36 amnotice that they have fully cleared the land at side.
and doing some piling. but the speed way too slow i guess

This post has been edited by blackJax: Feb 2 2012, 11:36 AM