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> THE ARC@CYBERJAYA [OWNERS' THREAD], Developer of Cova KD goes BIG (Investment)

accetera
post Feb 14 2011, 01:01 PM, updated 3y ago

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Project: The Arc@Cyberjaya
Developer - ANDAMAN Property Management Sdn Bhd (APM)

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APM sees brisk sale of The Arc@Cyberjaya
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ANDAMAN Property Management Sdn Bhd (APM), which is currently undertaking its largest property project by far The Arc@Cyberjaya in Cyberjaya with a gross development value of RM700mil expects to sell all of its 1,000 units by year-end.

APM was incorporated in 2009 as a property management and property-related services company by a few individuals of the previous management of the Andaman Group, an established property developer.

APM executive director and head of sales and marketing Datuk Vincent Tiew says since the company's formation, it now has ten property projects in hand with a total gross development value of RM2bil.

“We have been operating for only three years and I believe we have come far to anchor ourselves as a respectable property management company; our clients are mainly property developers and landowners,” he tells StarBizWeek in a recent interview.

Tiew says The Arc@Cyberjaya, the company's single largest freehold property project is expected to be launched in March.

“We have several phases to the project. The first phase will comprise 250 units priced at an average of RM350,000 per unit.

The Arc@Cyberjaya should be fully occupied by 2015,” he says, adding that the property project would be an iconic landmark in Cyberjaya once the apartments and 15 badminton courts with five office/campus tower blocks are completed.

Tiew is confident of full occupancy for the project as the company has provided “strong incentives” for home-buyers.

Homebuyers of The Arc@Cyberjaya can expect an 8% gross rental guarantee per annum for up to 25 years based on the company's four-year + four-year lease-back-option for six times plus an additional year.

“We can afford to guarantee the gross rental rate because we have a contract with the Multimedia University to provide hostel like accommodation for first and final year students,” Tiew points out.

The owner of The Arc@Cyberjaya is developer Maju Puncakbumi Sdn Bhd.

It is APM's strategy to price their property units at “affordable” levels for the mass market. “We generally build homes for the mass market and price them to allow for favourable upside in capital gain in the medium term with secured rental-yield return,” he elaborates.

He points out that some of the company's other property projects also have a gross rental guarantee of 8% per annum, but the tenure was shorter. They include the Cova Villa at Kota Damansara comprising 346 units at an average of RM300,000 per unit with three years and another three years lease-back-option.

Cova Villa at Kota Damansara, which was completed in 2009, says Tiew mainly caters to the students of Segi College.

Yet another property project of APM Casa Residenza at Kota Damansara, which has a GDV of RM126mil comprising 357 units at average price of about RM380,000 per unit was launched last year and was sold off within two days.

The property project also has a three-year + three-year lease-back-option at 8% gross rental guarantee per annum.

Its recently-launched 44 units of commercial shops at Kota Damansara was also sold out within two days for the total sales value of RM135mil. Construction is in full steam now and completion with Certificate of Fitness is anticipated within 18 months from sales and purchase date.

Other upcoming projects include the Selangor Science Park 2 in Cyberjaya (GDV RM180mil), The Academia@South City Plaza in Seri Kembangan (GDV RM65mil) and four and five-storey shop offices that include a mall at Bangi with a GDV of RM500mil.

APM markets its property projects via its five sales galleries located in Bangi, USJ, Kota Damansara, Ipoh and Johor Baru and it has a strong 2,000 odd loyal existing customers/buyers for the various projects in the pipeline.

According to Tiew, the company plans to brand itself as a premier property management company that provides developers and landowners the option to leave the job to APM to fully build and manage their properties.

“APM has the expertise to customise a building for a developer/owner and to run the day-to-day property-service related activities including rental and tenancy management, security, billing/credit control, carpark management, and food and beverage,” he says.

“We have scalability and can source for building materials at very competitive prices because we constantly have ongoing property projects,” he adds

This post has been edited by accetera: Mar 17 2014, 03:26 PM
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mike86
post Feb 14 2011, 01:40 PM

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bro accetera, done some searching and found out that this Andaman Group is somehow related to the Meda Inc and there's lawsuit going on?
not sure how is it, hope some1 know can enlighten me, thanks
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Dern
post Feb 14 2011, 02:18 PM

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QUOTE(mike86 @ Feb 14 2011, 01:40 PM)
bro accetera, done some searching and found out that this Andaman Group is somehow related to the Meda Inc and there's lawsuit going on?
not sure how is it, hope some1 know can enlighten me, thanks
*
actualy you can go and ask bank, they will do such investigation...ctos, cris...everything will come out if that person/company is being sued. from small sue to big ones...if checked really got, no bank will provide loan to that project.

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airline
post Feb 14 2011, 03:02 PM

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their cova series turn out ok. but will this end up like another platinum damansara?
so many condos in cyberjaya launching now.
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mrPOTATO
post Feb 14 2011, 03:06 PM

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QUOTE(airline @ Feb 14 2011, 03:02 PM)
their cova series turn out ok. but will this end up like another platinum damansara?
so many condos in cyberjaya launching now.
*
Ya ya .. how long will it take for oversupply to suface ? blush.gif
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mike86
post Feb 14 2011, 04:47 PM

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QUOTE(Dern @ Feb 14 2011, 02:18 PM)
actualy you can go and ask bank, they will do such investigation...ctos, cris...everything will come out if that person/company is being sued. from small sue to big ones...if checked really got, no bank will provide loan to that project.
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well i check on my system here seems no record shown, but just want to know how well they doing only =) thx anyway
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UFO-ET
post Feb 16 2011, 02:14 PM

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QUOTE(airline @ Feb 14 2011, 03:02 PM)
their cova series turn out ok. but will this end up like another platinum damansara?
so many condos in cyberjaya launching now.
*
I own an unit in Cova Kota Damansara, the quality is so so only, however I think Andaman is strong enough to deliver. Cyberjaya "wong" or not I dun know, I think apt and condos will be oversupply fr 2013 onwards. If facing University with 9500 students shd be ok to invest.

I dun understand MMU Cyberjaya, izit good, anyone can share?
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g-string
post Feb 16 2011, 03:03 PM

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I wonder how much will students pay for accomodation? if sales price is rm350-400k, with 8% returns, roughly its like rm2400 per month? 3 rooms, so rm800 per student.

if you're rich enough, u would probably want to take a one unit/studio for your self. otherwise u fit 2 to 4 people per room. in the end, owner suffer as apartment is ruined.

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almeizer
post Feb 16 2011, 03:11 PM

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QUOTE(g-string @ Feb 16 2011, 03:03 PM)
I wonder how much will students pay for accomodation? if sales price is rm350-400k, with 8% returns, roughly its like rm2400 per month? 3 rooms, so rm800 per student.

if you're rich enough, u would probably want to take a one unit/studio for your self. otherwise u fit 2 to 4 people per room. in the end, owner suffer as apartment is ruined.
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Well, I used to study in MMU, my course mate they stayed at Cyberia (condo) that time, it's true that 2-4 person that share 1 room. Rental that time is 1.2k, 4-5 years back. It cost them about 300 per month (include water, electricity, internet).

Well they use single mattress and sleep side by side, their clothes put at those plastic cupboard/storage (3-4 layers). Their PC put at living room. I don't think it will ruined the apartment. Maybe different if you rent to international student (e.g, african)

This post has been edited by almeizer: Feb 16 2011, 03:12 PM
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Taka_0
post Feb 16 2011, 03:39 PM

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but there is so many in cyberjaya already.

Shaftsbury Square, Neo Domain (now is new domain 4 already), D' Pulze, and there is another 2 next to LKW. the garden and another one. have u been to cyberjaya? ask ppl working there, with such price, i think they prefer to stay in puchong, nusaputra and such.
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karmakid
post Feb 19 2011, 10:38 AM

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seems like no ppl interested in this one huh?
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AndyTan6141
post Feb 19 2011, 05:00 PM

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QUOTE(karmakid @ Feb 19 2011, 10:38 AM)
seems like no ppl interested in this one huh?
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APM was incorporated in 2009 as a property management and property-related services company by a few individuals of the previous management of the Andaman Group, an established property developer.

“We have been operating for only three years and I believe we have come far to anchor ourselves as a respectable property management company; our clients are mainly property developers and landowners,” he tells StarBizWeek in a recent interview.

“We have several phases to the project. The first phase will comprise 250 units priced at an average of RM350,000 per unit.

Key indicators... hmm.gif
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luckykid5
post Feb 19 2011, 09:37 PM

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well, jst to let you all know, out of the RM350k, RM50k will be used for renovation. meaning the 8% rental income will be based on RM300k instead. so meaning you will get around RM1.8k a month.

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jet2020
post Feb 19 2011, 10:48 PM

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QUOTE(luckykid5 @ Feb 19 2011, 09:37 PM)
well, jst to let you all know, out of the RM350k, RM50k will be used for renovation. meaning the 8% rental income will be based on RM300k instead. so meaning you will get around RM1.8k a month.
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So actual rental return is only is 6%? If deduct monthly maint fee, the return will reduce further?
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UFO-ET
post Feb 20 2011, 09:41 AM

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QUOTE(jet2020 @ Feb 19 2011, 10:48 PM)
So actual rental return is only is 6%? If deduct monthly maint fee, the return will reduce further?
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When we talk about Tenancy, a factor "Continuing" tenancy is more important than the rental, only University provide non-stop tenanting whereby yr 5% nett income is guaranteed aloog the way..4%-5% is good enough when we compare to Singapore, Taiwan, Hong Kong average 2%.

When I invest shop or Apt (which is not direct facing University), I only calculate 8 mths possible rental (nett income) throughout the year (for 10 yrs return), agent will charge 1 mth, assessment Quit rent almost 1 mth, repair, tenant runaway, utility bills outstanding, vacancy period for new tenant, restore the defects make by old tenant etc, it will be more realistic.

For shop, I would never take into consideration of 2nd & 3rd floor rental, it is volatile, no promise,

So everytime when I came across a developer promise of 8%-10% return for a shop or apt, I will ignore by discounting at least 50% of it, otherwise you will be suffering by committing too much burden

My minimum requirement for shop is nett 3%, apartment condo is 4.5%, in long run 20-30 yrs, I will be the winner still flex.gif
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karmakid
post Feb 26 2011, 10:25 AM

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their first block, more than 90% sold out.

2nd block due to launch next month, with increament of 10k.
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accetera
post Mar 2 2011, 11:17 PM

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i wonder who will rent here?
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mack8899
post Mar 5 2011, 01:39 PM

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QUOTE(AndyTan6141 @ Feb 19 2011, 05:00 PM)
APM was incorporated in 2009 as a property management and property-related services company by a few individuals of the previous management of the Andaman Group, an established property developer.

“We have been operating for only three years and I believe we have come far to anchor ourselves as a respectable property management company; our clients are mainly property developers and landowners,” he tells StarBizWeek in a recent interview.

“We have several phases to the project. The first phase will comprise 250 units priced at an average of RM350,000 per unit.

Key indicators... hmm.gif
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I too have many questions...
And when directed to this thread, and after reading hat this fella had to say...i realised that he cannot even add his arithmatics!

his apm co formed in 2009...today its beginning of 2011. How did he get to add up to 3 yrs?? WHo are the few 'individuals' of the previous mgmnt team?

My other question " who are his property clients and developers and landowners...can we vouch?" Nothing beats a testimonial..
I also have reservations as there are many projects in the multimedia u + lim cock wing koleg.

Also 8% gross even leased top a college, would prob give a net return of 3% but hopefully with capital gain via property appreciations, no?

As a newbie, i could be wrong in all the above. Pardon me.
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500Kmission
post Mar 5 2011, 08:01 PM

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QUOTE(g-string @ Feb 16 2011, 03:03 PM)
I wonder how much will students pay for accomodation? if sales price is rm350-400k, with 8% returns, roughly its like rm2400 per month? 3 rooms, so rm800 per student.

if you're rich enough, u would probably want to take a one unit/studio for your self. otherwise u fit 2 to 4 people per room. in the end, owner suffer as apartment is ruined.
*
I agree. I buy a condo in kelana jaya. There got one unitversity and one college (i think move already last few mths). The college / university student never keep clean for your house. Of course if you compare to the indo / bakistan worker, the ruined is not much.

This post has been edited by 500Kmission: Mar 5 2011, 08:14 PM
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spikyz
post Mar 5 2011, 08:24 PM

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perhaps later all this students run and find a property in putrajaya or nusajaya. much cheaper. and bigger houses.
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