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Investment SUMMER SUITES AND SUMMER V.O.S. [OWNERS' THREAD], From RM328k off Jalan Sultan Ismail

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baharinsav62
post Feb 10 2011, 11:39 AM

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QUOTE(webby88 @ Feb 9 2011, 07:34 PM)

I thought for commercial property, it is not mandatory to provide bumi allocation.  However now Sunrise is becoming a GLC, things may be different now.  sad.gif
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I thought so too.

I have bought 2 properties which did not have any bumi discount or bumi allocation - Casa Tiara (serviced apartment on commercial title) and First Subang Studio Suite (studio unit on commercial title), both in Subang Jaya. This led me to conclude that props on commercial title do not need to give bumi discount/allocation.

Maybe Sunrise just wants to keep some units to be released later at a higher price and is using the bumi allocation as an excuse for not selling now, knowing/speculating that there will not be many bumi buyers for this project. So, diam2 cakap itu bumi units to put off buyers and then 6-12 months down the road, off load this at higher price.

Just my guess only. Best to check actual status whether this commercial property need to allocate for bumis or not. If not, non-bumis can go whack the "bumi allocated" units.



baharinsav62
post Feb 10 2011, 12:15 PM

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QUOTE(jeghui @ Feb 10 2011, 11:50 AM)
I beg to differ. for any development, there must be bumi lots allocated.

baharin, if u are a bumi and didn't get bumi discount, I think you kena tipu smile.gif

btw, for leasehold titles, what a bumi investor can do is buy non-bumi lots. but still entitled for bumi discount. that's possible. dont ask me why.

for freehold, bumi-lots is a no problem.
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Ya lah, maybe I kena tipu. vmad.gif Doesn't really matter any way because I have made good money from those investments. Rugi 5 % or 7% (no discount) tapi untung 60% (gross profit on sale of prop) is to me, still good with at least 53% overall profit. Couldn't ask for better.

This bumi discount/allocation I treat as a privilege - if got, good ..if not, also good - as long as the prop is a good one. No point buying lousy prop with the discount.. in the end rugi also. After all, it's just policy, not law.


baharinsav62
post Feb 10 2011, 12:22 PM

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QUOTE(jeghui @ Feb 10 2011, 12:18 PM)
good for you, man.  rclxms.gif

So you sold both already?
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Sold one, the other for own use.


 

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