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

accetera
post Feb 14 2011, 01:01 PM


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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.
*
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?
*
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.

This post has been edited by luckykid5: Feb 19 2011, 09:37 PM
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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.
*
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
*
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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AndyTan6141
post Mar 6 2011, 12:57 AM


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QUOTE(mack8899 @ Mar 5 2011, 01:39 PM)
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.
*
Hi Mack...as a newbie, one needs to have enuf bullets to last the gun battle...looks like this is going to be a long one...
IMHO...there r just too many question marks on this project....
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luckykid5
post Mar 8 2011, 11:57 AM


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actually if you look at the condo unit (besides sunway university college) and the condo unit (opposite Segi university college in kota damansara), even though quite a number of students staying in 1 unit, it's still properly maintained.

rental of 2k for the entire unit is not an expensive thing, considered it's fully furnished. morever, every 4 years, the developer will repack/refresh the furnitures/walls/etc if it's old or damaged.

so rather than a student rent a 500sf for 1.8k, it might be attractive to rent this unit too.

well, it's debatable la. both also right, both also has pros and cons. depending on how you see it only.
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cova
post Mar 14 2011, 03:33 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
*
The Andaman and Meda Inc is owned by the same people. If you have known about the history of the of this developer, you wouldn't want to touch their properties. (google under MEDAINC, you will get all info)
Their latest finished project a condominium in Kota Damansara, and many things have not developed according to plan and their property management is totally a disaster.
My advice here, DON'T EVEN THINK ABOUT THIS PROJECT.
The actual value of this ARC@Cyberjaya probably worth only RM200/sqft for an apartment like this in Cyberjaya. Totally no potential of appreciation (likely to depreciate, because as student hostel) as they are selling at average RM400/sqft, your GRS may not even to cover your loan installment.


Added on March 14, 2011, 4:01 pmhttp://biz.thestar.com.my/news/story.asp?file=/2011/2/12/business/8026091&sec=business

last time Andaman Group-Pharma Exel now APM-Maju Puncakbumi. New project new company, so no previous bad records. But same people, Teoh


Added on March 23, 2011, 11:40 amRead this before you buy

http://andaman-group.blogspot.com/

This post has been edited by cova: Mar 23 2011, 11:40 AM
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inoue_chiaki
post May 1 2011, 09:58 PM


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98% and above of Block A & B already sold out @ iProperty Expo today. But I heard they are launching Block C & D soon.
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ccslink
post May 3 2011, 03:42 PM


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“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.

This guarantee may only be possible as & when MMU has the supply & enuff to go ard - 25 yrs sufficiency. As mentioned before, one also has to factor blackout period but who guarantees the rental during such periods -the developer? One then also questions if they'll be ard for 25 yrs. Are they a RM2.00 company? What indeed are the conditions of guarantee & their capacity to guarantee?
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Edmund86
post May 4 2011, 09:26 PM


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I've booked a unit... was told that the renewal of contract after 4 years, it cost you 3 months rental to replenish the furniture, wall, etc..
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RoGuEWaVe
post May 6 2011, 03:34 PM


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plan to get an unit,any advice?kinda confused!wether go for setapak green or arc?
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accetera
post May 6 2011, 09:35 PM


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QUOTE(RoGuEWaVe @ May 6 2011, 03:34 PM)
plan to get an unit,any advice?kinda confused!wether go for setapak green or arc?
*
to stay, rent or investment? budget? where you are more familiar?
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inoue_chiaki
post May 7 2011, 12:44 AM


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According to the sales agent I met that day (iProperty Expo), we cannot buy for own stay, it is for investment type and the buyer will have a contract with the developer and MMU (to rent to the student). Unless they want to cancel the contract with the developer.

This post has been edited by inoue_chiaki: May 7 2011, 12:46 AM
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inoue_chiaki
post May 7 2011, 11:20 AM


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I have booked a corner unit also. smile.gif
Went to the site the next day and took some photos. The location is 5-10 mins walking distance from MMU (ard 500m, i guess).
There are few blocks of condo right next to MMU as you can see from the photos and The Arc is just opposite the condos. There is a Taman Tasik not far away too.
I dun see any shop lot ard MMU. Tomorrow might go and survey again. Lim Kok Weng is about 2-3km away.
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RoGuEWaVe
post May 7 2011, 09:14 PM


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QUOTE(accetera @ May 6 2011, 09:35 PM)
to stay, rent or investment? budget? where you are more familiar?
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for investment,budget rm300k to rm500k
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Edmund86
post May 11 2011, 04:47 PM


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Have booked a unit and was a bit regret for doing so honestly. Was told by developer to pay 5% DP upfront even before signing of SPA within a week from booking. i've booked the corner unit (biggest s.f.)

For potential investor on this project, I wish to highlight that :
1. The only End-financing is UOB Bank, other bank proceed on ad hoc basis with unfavorable interest rate or stringent credit policy. I was told that even if you get only 80% financing, still have to pay the developer RM5300 for quiting the booking, condition mentioned in booking form upfront.

2. I'm working with UOB Bank and was told that our end financing team, the End financing team not comfortable with the loan, but the tie-up was done by bridging loan (Business Group - surpass assessment by Director, End-financing group).

3. The project consist of 1000 units of condo, while no issue on completion risk. however, appreciate in asset value is questionable in view of possible over supply of similar residential property in cyberjaya. Developed with aim to be hostel doesn't help the potential appreciation.

4. The project is good as rental tools, as good as the rental income enough to cover installment payment. however, after deduction cost of furniture (Rm50,000) and discount, the net rental over property value is about 5++%, which is very average /below average. By locking in the rental pricing for 4 years, not much appreciation anticipated.

Only if I've done enough homework before commiting ... It's escalating commitment for me.

Do let me know any gurus view on this, I wish to know....


Added on May 11, 2011, 4:48 pminoue_chiaki, thank you so much for sharing. As a buyer, I think you share the same worries....

This post has been edited by Edmund86: May 11 2011, 04:50 PM
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icez
post May 11 2011, 05:33 PM


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I'm very suprised that UOB has low confidence in this project. They seem to have plenty of projects where they are the end financer. If they have doubts with this project, I wonder if they have doubts with all the other projects too - ie. Shaftsbury, Serin, etc?
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taufufa
post May 11 2011, 09:43 PM


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I met one of the sales agent yesterday and i managed to dig some interesting fact. For those who planned to invest on this project, you can forget about it. Let me top up something that edmund has missed out. The 8% of 25yrs contract they promised got max rate which is only 10%. Even the economy is damn good and the rental keep on appreciating but still you can get is 10% max from the first day you bought from developer. Do bear in mind maintenance fees will keep on increasing from year to year. But your rental is still maintain. One day you will find your rental is not enough to cover your monthly installment. What to do next? Plan to sell it? Do you think any investor will buy a property where the sales price already increased but only can get same rental from the day you bought? Well, im not saying they cheating, but 100% sales agent wont disclose until you keep on asking and asking.
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Mavik
post May 11 2011, 09:55 PM


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That place is very near where I work and after working in Cyberjaya for 6 years, I am still thinking twice about a project like this.
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SmallPotato2011
post May 11 2011, 10:05 PM


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Anyway, I share out all the photos I took last time... Hope you like it... smile.gif

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This post has been edited by SmallPotato2011: May 11 2011, 10:09 PM
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Edmund86
post May 11 2011, 10:40 PM


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QUOTE(icez @ May 11 2011, 05:33 PM)
I'm very suprised that UOB has low confidence in this project. They seem to have plenty of projects where they are the end financer. If they have doubts with this project, I wonder if they have doubts with all the other projects too - ie. Shaftsbury, Serin, etc?
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UOB is End financing of Shaftsbury and Serin, and financing these two project favourably. UOB still offer quite competitive rate of BLR-2.3 for The Arc.
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karmakid
post May 11 2011, 10:45 PM


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QUOTE(taufufa @ May 11 2011, 09:43 PM)
I met one of the sales agent yesterday and i managed to dig some interesting fact. For those who planned to invest on this project, you can forget about it. Let me top up something that edmund has missed out. The 8% of 25yrs contract they promised got max rate which is only 10%. Even the economy is damn good and the rental keep on appreciating but still you can get is 10% max from the first day you bought from developer. Do bear in mind maintenance fees will keep on increasing from year to year. But your rental is still maintain. One day you will find your rental is not enough to cover your monthly installment. What to do next? Plan to sell it? Do you think any investor will buy a property where the sales price already increased but only can get same rental from the day you bought? Well, im not saying they cheating, but 100% sales agent wont disclose until you keep on asking and asking.
*
i have the same concern as you as well, but what the sales folk told me is that, the existing contract of 8% meant for first 4 years, and the subsequent 4 years have 8 to max 10%. So for our third 4 years renewal, it should be based on market rate alridi. meaning the developer most likely will earn more on our second 4 years, since we are capped on 10%, but on the third 4 years onward, we should have an upper hand. else i dont think i want to consider this project at all in the first place.

i've yet to see the terms & conditions. so far it's verbal said by the developer only. the signing of S&P has been postponed again (supposingly this week). hopefully they'll come out with something more attractive, and not something stupid like on the third 4 years, we are still capped at 10% only. then, this is a real CON case already. else, i think it's fine.
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taufufa
post May 11 2011, 11:41 PM


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QUOTE
i have the same concern as you as well, but what the sales folk told me is that, the existing contract of 8% meant for first 4 years, and the subsequent 4 years have 8 to max 10%. So for our third 4 years renewal, it should be based on market rate alridi. meaning the developer most likely will earn more on our second 4 years, since we are capped on 10%, but on the third 4 years onward, we should have an upper hand. else i dont think i want to consider this project at all in the first place.

i've yet to see the terms & conditions. so far it's verbal said by the developer only. the signing of S&P has been postponed again (supposingly this week). hopefully they'll come out with something more attractive, and not something stupid like on the third 4 years, we are still capped at 10% only. then, this is a real CON case already. else, i think it's fine.


Im very sure the sales girl told me max 10% for 25yrs. Unless herself also not so sure and gave me the wrong info. That's why straight away i turned down and look for other places. Tomorrow i will call their office again to confirm about this.
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Edmund86
post May 13 2011, 09:20 PM


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taufufa, how's ur confirmation about the rental?
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kelvin_tan
post May 14 2011, 03:17 AM


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BLR 2.3% is competitive? =/

PBB offered me BLR -2.5% for 1st year and -2.4% for subsequent years for domain 3..

the way I look at this project is, you will have trouble SELLING IT when the time comes. Nobody wants to live in a place where it is purely students..

I'm a graduate from MMU and there dont seem to be a shortage in terms of places to stay. Heck, most population that studies in MMU are from average income families. They are not going to be able to pay crazy expensive rents and therefore resorted to staying 2-3 ppl per room while still paying RM200+ per person (this in cyberia smarthomes).

All in all, so many better places to live, why would they choose this place? it isnt the closest thing to MMU and yet rentals are so expensive.
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Edmund86
post May 14 2011, 01:27 PM


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Agree with Kelvin.
About the rate, as UOB is only end-financing for this project, of cos the rate will not be so great as no competitor.
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luckykid5
post May 14 2011, 05:43 PM


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QUOTE(taufufa @ May 11 2011, 11:41 PM)
Im very sure the sales girl told me max 10% for 25yrs. Unless herself also not so sure and gave me the wrong info. That's why straight away i turned down and look for other places. Tomorrow i will call their office again to confirm about this.
*
which sales girl? I talked to a sales guy called chris, and he told me that the rental rates (up to 10%) only meant for the first 8 years. after that, it will based on the market rate, subject for negotiation with the developers.

QUOTE(Edmund86 @ May 14 2011, 01:27 PM)
Agree with Kelvin.
About the rate, as UOB is only end-financing for this project, of cos the rate will not be so great as no competitor.
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Maybank is also one of the official end-financing, but only 2.1 rate. UOB highest is 2.4.
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K.E
post May 20 2011, 10:07 PM


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hi all ,

i kinda interested on this property the only part i cant understand is ... there is a contract term like 4 years ( can be continue in future ) .
Can i sell it after 4 years ? and how they evaluate the property price ?



thx in advance ..
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Edmund86
post May 21 2011, 11:27 AM


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QUOTE(K.E @ May 20 2011, 10:07 PM)
hi all ,

i kinda interested on this property the only part i cant understand is ... there is a contract term like 4 years ( can be continue in future ) .
Can i sell it after 4 years ? and how they evaluate the property price ?
thx in advance ..
*
Of course the price still based on market price at that moment (depends on transaction on market).
You don't have to wait for 4 years to sell it as you could sell with tenancy agreement to other investors too.

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Edmund86
post May 31 2011, 06:22 PM


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Attached option agreement for GRR. noted each increment in rental (even after 4 years capped at maximum 10%).
Replenishing cost will be 3 months of your rental for each renewal.
SPA draft attached too for your reference.


Attached File(s)
Attached File  Option_Agreement.pdf ( 126.91k ) Number of downloads: 583
Attached File  Schedule_H_THE_ARC__CYBERJ.PDF ( 180.23k ) Number of downloads: 499
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sampool
post Jun 8 2011, 08:51 AM


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the condo i think mostly rent to foreigner/negros... that is the market for the developer as no many owner willing to rent to them... sorry to say that...

ur need to compete with 1 thousand of partner whose also invest into this prop... the stress will be foresee after project completed...

Something which is not control is consider risky, but the long holding power still needed for this piece of investment... if not y the developer dun want to sapu all for their own and rent to the students... to earn more... IF IT IS A BEST INVESTMENT!

In this case never trust sales agent... because they are busy of selling for profits... to ur own research.


my 2cents..

http://www.myrealestate.com.my/viewtopic.p...er=asc&start=25

This post has been edited by sampool: Jun 8 2011, 09:22 AM
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garagesell
post Jun 10 2011, 12:30 PM


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they are going to sarawak for the project.. looking for sarawakian to buy. seem quite attractive to them.. although sarawakian got huge fund.. hope they will not regret. my friend called me ask me to check and guys.. what is your advice?? not selling price going for 320K + 50K for furniture. total up is RM370K.. return 8%...
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ronn77
post Jun 10 2011, 01:14 PM


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QUOTE(garagesell @ Jun 10 2011, 12:30 PM)
they are going to sarawak for the project.. looking for sarawakian to buy. seem quite attractive to them.. although sarawakian got huge fund.. hope they will not regret. my friend called me ask me to check and guys.. what is your advice??  not selling price going for 320K + 50K for furniture. total up is RM370K..  return 8%...
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You can have good ROI but I don't see we can enjoy a good capital appreciation from this project. Frankly speaking, I don't really like to rent my unit to student due to many reason which I believe many bros here agree.
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nkhong
post Jun 16 2011, 02:30 AM


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Saw a full page ad of this property in newspaper last page. They have launched block c. Price from 350k. 1000 units in total. Think it going to be oversupply in CBJ when it completed.
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gunh
post Jun 16 2011, 10:01 AM


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something good worth for investment does not need heavy advertisement.... that's what i believe...

This post has been edited by gunh: Jun 16 2011, 10:01 AM
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covasuites
post Jun 24 2011, 05:56 PM


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To all investors, please think twice before putting your $$ in.. the property will not go any much higher as the aprtment is mean for students stays..And!!! the most important thing is.. the "developer", is the same group that develop Cova Suites, Cova Square and Cova Villa, just ask around or pay a visit to the this places and see what have the developer been deliver to the purchaser..
cova villa - 99% segi students, almost everynight there's trouble make by the students. the building is very bad maintain by devloper.
Cova Suites - only 1 full time management staff allocated by andaman, only allocated 5 security guards per shift to man the area. the size of the ramp to car park is extremely comfrotable for small and medium size cars to drive up.. SUV and larger car will have prblm. security card system (3 tiers security) since Jan 2010 until today yet to deliver.

all are empty promises!!!

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pjguy
post Jun 24 2011, 09:15 PM


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how is the investment opportunity in cyberjaya?
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Neoh1979
post Jun 24 2011, 11:49 PM


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I dun think it's a good investment.
Went to see the area, no good. Too many
empty rooms/ house to let. Based on mmu
student, not good enough. Also, many other projects there as well.
Might as well consider senza residence.
Good location, can target wider range of
buyers....or perhaps z residence....
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lee1014
post Jun 27 2011, 10:01 PM


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On 26th June 2011 morning, I went to Andaman USJ office to attend The Arc@Cyberjaya event and bought a unit at Block D-19-01, Level 19. I make the payment in the same time by credit card with 5% of RM393k purchase price (12:52pm payment time) and the other 5% is rebate (for early bird) by the developer. The attend sale person is Dato Vicent Tiew and assign to her admin to make the process and payment.

At 17:57 time, when I was at home I received a call from Dato Vicent Tiew. Asking me whether interest to taking level 22 or 23 and the different is only 500 to 1k, then I answer no to him becaused I like the unit I bought and not thinking to change to other unit. Finally he told me that the unit I bought is double sale, then I said I need to discuss with my wife.

But when my wife asking him to make it same price if wanted to let level 22 or 23 to us and he said he will personally to withdrawal 1k to make us to move to level 22/23 from originally level 19. Then my wife did told him that we decided to take level 22 and asking him to revised the booking offer and mail to us (after conversation by phone, my wife sending our email address to him at 19:06pm).

At same date 19:54pm, we received a message from Dato Vicent Tiew as following "Sorting out final batching and compilation with all sales branches. Will revert tomorrow"

At 27th June 2011 afternoon time, We haven't received a single call from Dato Vicent Tiew. So my wife sms (15:22pm) to him asking our unit as he promised yesterday but he did reply as "Still sorting out" (15:24pm).
At 16:13pm, I received another sms from him and telling "I have block D 26-01 rm395k. Do u want it ?". From this sms, it make me so disappointed with their sincere.
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SmallPotato2011
post Jun 27 2011, 11:01 PM


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QUOTE(lee1014 @ Jun 27 2011, 10:01 PM)
On 26th June 2011 morning, I went to Andaman USJ office to attend The Arc@Cyberjaya event and bought a unit at Block D-19-01, Level 19. I make the payment in the same time by credit card with 5% of RM393k purchase price (12:52pm payment time) and the other 5% is rebate (for early bird) by the developer. The attend sale person is Dato Vicent Tiew and assign to her admin to make the process and payment.

At 17:57 time, when I was at home I received a call from Dato Vicent Tiew. Asking me whether interest to taking level 22 or 23 and the different is only 500 to 1k, then I answer no to him becaused I like the unit I bought and not thinking to change to other unit. Finally he told me that the unit I bought is double sale, then I said I need to discuss with my wife.

But when my wife asking him to make it same price if wanted to let level 22 or 23 to us and he said he will personally to withdrawal 1k to make us to move to level 22/23 from originally level 19. Then my wife did told him that we decided to take level 22 and asking him to revised the booking offer and mail to us (after conversation by phone, my wife sending our email address to him at 19:06pm).

At same date 19:54pm, we received a message from Dato Vicent Tiew as following "Sorting out final batching and compilation with all sales branches. Will revert tomorrow"

At 27th June 2011 afternoon time, We haven't received a single call from Dato Vicent Tiew. So my wife sms (15:22pm) to him asking our unit as he promised yesterday but he did reply as "Still sorting out" (15:24pm).
At 16:13pm, I received another sms from him and telling "I have block D 26-01 rm395k. Do u want it ?". From this sms, it make me so disappointed with their sincere.
*
Dato Vicent Tiew wo.... Dato wo.... sweat.gif
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Neoh1979
post Jun 28 2011, 12:55 AM


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Aikks, no good lo..but if u really want, then just get
on with it.
Personally I do not feel it's a good project
with so much empty house to rent in cyberjaya.
Plus so many developments of apartments.
But never know...a calculated risk
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lee1014
post Jun 28 2011, 09:53 AM


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QUOTE(SmallPotato2011 @ Jun 27 2011, 11:01 PM)
Dato Vicent Tiew wo.... Dato wo....  sweat.gif
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Yalo, Dato Vincent Tiew attend it but also can make double sale wo..... Some more fooling around me where keeping asking other unit where we don't like. What is the meaning I come to the office and choose the unit where I wanted. If he cant make it to level 22 to us then don't simply asking till offering another floor pulak... bad impression.

Please advice on where I can make complaint to department? Thanks in advanced
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sampool
post Jun 28 2011, 11:27 AM


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The place mean GRR... i think it target rent to negro... sorry to say that..

u think local student wanted to move in? u r not in control (student/maintenance fee/bank interest).. good luck!!!



This post has been edited by sampool: Jun 28 2011, 11:30 AM
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cutealex
post Jun 28 2011, 11:32 AM


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From the day 1 i get this first hand info and i look at their GRR proposal and planning... and look on the location & surrouding area...decide to give a pass for this projects...

Good luck to the buyers and purchasers anyway....
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UFO-ET
post Jun 28 2011, 11:34 AM


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QUOTE(Neoh1979 @ Jun 24 2011, 11:49 PM)
I dun think it's a good investment.
Went to see the area, no good. Too many
empty rooms/ house to let. Based on mmu
student, not good enough. Also, many other projects there as well.
Might as well consider senza residence.
Good location, can target wider range of
buyers....or perhaps z residence....
*
ya, but Senza boleh dapat ke?? hmm.gif


Added on June 28, 2011, 11:58 am
QUOTE(covasuites @ Jun 24 2011, 05:56 PM)
To all investors, please think twice before putting your $$ in.. the property will not go any much higher as the aprtment is mean for students stays..And!!! the most important thing is.. the "developer", is the same group that develop Cova Suites, Cova Square and Cova Villa, just ask around or pay a visit to the this places and see what have the developer been deliver to the purchaser..
cova villa - 99% segi students, almost everynight there's trouble make by the students. the building is very bad maintain by devloper.
Cova Suites - only 1 full time management staff allocated by andaman, only allocated 5 security guards per shift to man the area. the size of the ramp to car park is extremely comfrotable for small and medium size cars to drive up.. SUV and larger car will have prblm. security card system (3 tiers security) since Jan 2010 until today yet to deliver.

all are empty promises!!!
*
Hi covasuites, I own an unit in Cova Villa, can share a little bit the Cova Villa's maintenance? Thinking to sell it off

This post has been edited by UFO-ET: Jun 28 2011, 11:58 AM
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accetera
post Jun 29 2011, 12:16 AM


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hows the response for the final block?
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boy1909
post Jul 1 2011, 08:43 AM


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I hv 1 unit in Block C with me . Any1 interested just buzz me uthaya.k.t@gmail.com . I ve just booked and can take with the original price. No price hike!!!
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cova
post Jul 2 2011, 01:34 AM


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QUOTE(Edmund86 @ May 11 2011, 04:47 PM)
Have booked a unit and was a bit regret for doing so honestly. Was told by developer to pay 5% DP upfront even before signing of SPA within a week from booking. i've booked the corner unit (biggest s.f.)

For potential investor on this project, I wish to highlight that :
1. The only End-financing is UOB Bank, other bank proceed on ad hoc basis with unfavorable interest rate or stringent credit policy. I was told that even if you get only 80% financing, still have to pay the developer RM5300 for quiting the booking, condition mentioned in booking form upfront.

2. I'm working with UOB Bank and was told that our end financing team, the End financing team not comfortable with the loan, but the tie-up was done by bridging loan (Business Group - surpass assessment by Director, End-financing group).

3. The project consist of 1000 units of condo, while no issue on completion risk. however, appreciate in asset value is questionable in view of possible over supply of similar residential property in cyberjaya. Developed with aim to be hostel doesn't help the potential appreciation.

4. The project is good as rental tools, as good as the rental income enough to cover installment payment. however, after deduction cost of furniture (Rm50,000) and discount, the net rental over property value is about 5++%, which is very average /below average. By locking in the rental pricing for 4 years, not much appreciation anticipated.

Only if I've done enough homework before commiting ... It's escalating commitment for me.

Do let me know any gurus view on this, I wish to know....


Added on May 11, 2011, 4:48 pminoue_chiaki, thank you so much for sharing. As a buyer, I think you share the same worries....
*
Like I mentioned before, exit quickly even if you lose some of deposit. Cova Villa in Kota Damansara is a mirror example to the future ARC, Cyberjaya from the same developer, little appreciation of value and net rental income of about 5% only.
However, the other project next to it, the Cova Suite enjoy a good 40% appreciation as it is not being used as a hostel and no such garantee scheme was offered.
In another word, the developer is overcharged you on the price of the property and then give you back a little by little of 5% per annum. But on the other hand, they rent your property to the college and charge 8-9%.
Think carefully before you invest in this property especially from Andaman.


Added on July 2, 2011, 1:51 amNEVER TRUST ANDAMAN
GOOGLE ANDAMAN TO GET SOME BACKGROUD OF THE DEVELOPER


Added on July 2, 2011, 1:55 amlast time Andaman Group-Pharma Exel now APM-Maju Puncakbumi. New project new company, so no previous bad records. but same people.
Right? Mr Teoh!


Added on July 2, 2011, 1:58 amAttention to all investors in this project!
Please do your homework/checking carefully!!!

This post has been edited by cova: Jul 2 2011, 01:58 AM
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boy1909
post Jul 2 2011, 02:08 AM


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But any idea how to get back my booking fees? I didnt see any claus in that booking form saying RM 5300 will be deducted. Besides i just paid RM 2000 for my booking.

rclxub.gif
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ronn77
post Jul 2 2011, 08:54 AM


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QUOTE(cova @ Jul 2 2011, 01:34 AM)
Like I mentioned before, exit quickly even if you lose some of deposit. Cova Villa in Kota Damansara is a mirror example to the future ARC, Cyberjaya from the same developer, little appreciation of value and net rental income of about 5% only.
However, the other project next to it, the Cova Suite enjoy a good 40% appreciation as it is not being used as a hostel and no such garantee scheme was offered.
In another word, the developer is overcharged you on the price of the property and then give you back a little by little of 5% per annum. But on the other hand, they rent your property to the college and charge 8-9%.
Think carefully before you invest in this property especially from Andaman.


Added on July 2, 2011, 1:51 amNEVER TRUST ANDAMAN
GOOGLE ANDAMAN TO GET SOME BACKGROUD OF THE DEVELOPER


Added on July 2, 2011, 1:55 amlast time Andaman Group-Pharma Exel now APM-Maju Puncakbumi. New project new company, so no previous bad records. but same people.
Right? Mr Teoh!


Added on July 2, 2011, 1:58 amAttention to all investors in this project!
Please do your homework/checking carefully!!!
*
Good piece of advise.
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cova
post Jul 2 2011, 11:02 AM


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QUOTE(boy1909 @ Jul 2 2011, 02:08 AM)
But any idea how to get back my booking fees? I didnt see any claus in that booking form saying RM 5300 will be deducted. Besides i just paid RM 2000 for my booking.

rclxub.gif
*
Make a bank to reject your bank loan, use it as a proof to get back the deposit.
Advise this to all investors.
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nkhong
post Jul 3 2011, 12:21 AM


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They keep on advertise in news paper and radio 8% return ... They are cheating public aledi ...
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post Jul 3 2011, 12:49 AM


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QUOTE(nkhong @ Jul 3 2011, 12:21 AM)
They keep on advertise in news paper and radio 8% return ... They are cheating public aledi ...
*
Huh? What happened? 3 blocks 90% sold out can't be a mistake right? hmm.gif


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post Jul 3 2011, 07:14 AM


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QUOTE(nkhong @ Jul 3 2011, 12:21 AM)
They keep on advertise in news paper and radio 8% return ... They are cheating public aledi ...
*
Normally the 8% return is average of the WHOLE project average price and minus the furniture. Therefore u wont get 8%, maybe 5% like someone mentioned earlier.

Not sure about this project. Maybe im wrong.
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cutealex
post Jul 3 2011, 07:30 AM


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QUOTE(cova @ Jul 2 2011, 01:34 AM)
Like I mentioned before, exit quickly even if you lose some of deposit. Cova Villa in Kota Damansara is a mirror example to the future ARC, Cyberjaya from the same developer, little appreciation of value and net rental income of about 5% only.
However, the other project next to it, the Cova Suite enjoy a good 40% appreciation as it is not being used as a hostel and no such garantee scheme was offered.
In another word, the developer is overcharged you on the price of the property and then give you back a little by little of 5% per annum. But on the other hand, they rent your property to the college and charge 8-9%.
Think carefully before you invest in this property especially from Andaman.


Added on July 2, 2011, 1:51 amNEVER TRUST ANDAMAN
GOOGLE ANDAMAN TO GET SOME BACKGROUD OF THE DEVELOPER


Added on July 2, 2011, 1:55 amlast time Andaman Group-Pharma Exel now APM-Maju Puncakbumi. New project new company, so no previous bad records. but same people.
Right? Mr Teoh!


Added on July 2, 2011, 1:58 amAttention to all investors in this project!
Please do your homework/checking carefully!!!
*
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airline
post Jul 3 2011, 10:01 AM


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cova villa got appreciation. when i went there wanted to bring out cheque rm260K. but didnt haiz...
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cova
post Jul 4 2011, 10:41 AM


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QUOTE(airline @ Jul 3 2011, 10:01 AM)
cova villa got appreciation. when i went there wanted to bring out cheque rm260K. but didnt haiz...
*
Yes, Cova Villa got appreciation, something like 5-10% after 2.5 years. The net 5% rental income is based on the developer selling price.
In you buy at current price (10% appreciation), you actually get net 4%, but after paying bank installemt interest (i m talking only interest here not even the loan instalment which include the principal amount), you get nothing.
If your property does not appreciate what the point of buying it.

Moreover, u will face the riskhaving higher bank loan interest, which then you will lose money every months

Never believe those garantee scheme, espeacilly from Andaman.

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sampool
post Jul 4 2011, 10:46 AM


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QUOTE(cova @ Jul 4 2011, 11:41 AM)
Yes, Cova Villa got appreciation, something like 5-10% after 2.5 years. The net 5% rental income is based on the developer selling price.
In you buy at current price (10% appreciation), you actually get net 4%, but after paying bank installemt interest (i m talking only interest here not even the loan instalment which include the principal amount), you get nothing.
If your property does not appreciate what the point of buying it.

Moreover, u will face the riskhaving higher bank loan interest, which then you will lose money every months

Never believe those garantee scheme, espeacilly from Andaman.
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GRR is easy for them to let go their units...
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flipacoin2k
post Jul 4 2011, 03:39 PM


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hmm, with all the negative feedback here, I am wondering how's the latest sales doing. Perhaps there are still buyers going into it without realizing the bad feedbacks.

Anyone paid a visit to the sales office recently and have any idea about the sales response?
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cova
post Jul 4 2011, 04:58 PM


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QUOTE(flipacoin2k @ Jul 4 2011, 03:39 PM)
hmm, with all the negative feedback here, I am wondering how's the latest sales doing. Perhaps there are still buyers going into it without realizing the bad feedbacks.

Anyone paid a visit to the sales office recently and have any idea about the sales response?
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I dont think the sale is good, if not they wouldn't go all out to promote by full force advertising.
The developer can always claim the sale is good, but who know the truth except them.
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Neoh1979
post Jul 4 2011, 11:58 PM


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It's a calculated risk...renting back scheme seemed
outdated. So many developments n rooms to let
In cyberjaya. Target market limited.
Somemore bad review...Goshhh.
Weighing of good n bad reviews are important...
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cova
post Jul 5 2011, 09:27 AM


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QUOTE(Neoh1979 @ Jul 4 2011, 11:58 PM)
It's a calculated risk...renting back scheme seemed
outdated. So many developments n rooms to let
In cyberjaya. Target market limited.
Somemore bad review...Goshhh.
Weighing of good n bad reviews are important...
*
If the developer don't sell by guarantee scheme, the project would probably can not be sold.
Looking at their selling which is average about RM400/sqft is extremely over priced, the fair value for this kind of arpartment project in cyberjaya should be only max RM250/sqft because of over supplies. This project is definitely not worth to invest at all looking at the terms and conditions of the scheme, the nature limitation and also the background of the developer.
If you have paid deposit and not yet signed S&P.

GET OUT IF YOU CAN AT ALL COST[SIZE=14][COLOR=red]
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sampool
post Jul 5 2011, 09:48 AM


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even losing the deposite also let go.... my 2cents.
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cova
post Jul 5 2011, 10:39 AM


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QUOTE(sampool @ Jul 5 2011, 09:48 AM)
even losing the deposite also let go.... my 2cents.
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Make a bank to reject your bank loan, use it as a proof to get back the deposit.

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kengyaw9
post Jul 5 2011, 06:49 PM


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QUOTE(flipacoin2k @ Jul 4 2011, 03:39 PM)
hmm, with all the negative feedback here, I am wondering how's the latest sales doing. Perhaps there are still buyers going into it without realizing the bad feedbacks.

Anyone paid a visit to the sales office recently and have any idea about the sales response?
*
Went to the sales office today, the GRR only 8 unit left on block D, while total unit available in block D are around 40 only.
Their sales is good.
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cova
post Jul 6 2011, 09:06 AM


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QUOTE(kengyaw9 @ Jul 5 2011, 06:49 PM)
Went to the sales office today, the GRR only 8 unit left on block D, while total unit available in block D are around 40 only.
Their sales is good.
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what do you mean, you said 8 then 40?
They are many ignorant investors out there, developers would have no problem to sell their properties.


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NormanPuchong
post Jul 6 2011, 10:15 AM


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i was almost booked a unit in May 11. i went to Andaman office in USJ on Saturday and that time not much ppl and there are still units available in block B (as informed by the SA).

After thinked twice, decided not go as the actual return is around 4-5% (based on net amount after deducting the furniture cost of RM50k, which i think is too high, and the furniture package is referring to fans (not air-con), tables, chairs, wardrabe, bed and mattress..even not hv cooking hood, refri., and cooker). First 3 years, they will not charge any maintenance fee, but for the second 3 years renewal terms..3 or 4 months rental will be charged for maintenance fee..

Anyway, dif investors got dif preference..since this is a GRR scheme, at least the investors are ensure of tenancy and rental regardless of what is the rate of return..

Good luck to Arc investor.


Added on July 6, 2011, 10:17 amsorry..opps..should be "i think is too low..."...


This post has been edited by NormanPuchong: Jul 6 2011, 10:17 AM
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sampool
post Jul 6 2011, 10:25 AM


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QUOTE(NormanPuchong @ Jul 6 2011, 11:15 AM)
i was almost booked a unit in May 11. i went to Andaman office in USJ on Saturday and that time not much ppl and there are still units available in block B (as informed by the SA).

After thinked twice, decided not go as the actual return is around 4-5% (based on net amount after deducting the furniture cost of RM50k, which i think is too high, and the furniture package is referring to fans (not air-con), tables, chairs, wardrabe, bed and mattress..even not hv cooking hood, refri., and cooker). First 3 years, they will not charge any maintenance fee, but for the second 3 years renewal terms..3 or 4 months rental will be charged for maintenance fee..

Anyway, dif investors got dif preference..since this is a GRR scheme, at least the investors are ensure of tenancy and rental regardless of what is the rate of return..

Good luck to Arc investor.


Added on July 6, 2011, 10:17 amsorry..opps..should be "i think is too low..."...
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this point is key.. and make the ppl to buy...
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rayolim
post Jul 13 2011, 12:46 AM


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Hi All,

One of my friend have a unit to let go:

- Blk B 9th floor, 1021sf, 3r2b, purchased price at RM401,000.

- Fully Furnished.

- Asking for premium of RM40,100(10%).

-The 5% will be refunded back to you once u obtained 90% loan.

Interested do sms me or call 016-2080516 for details. Tq
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beandk
post Jul 13 2011, 11:20 PM


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QUOTE(rayolim @ Jul 13 2011, 12:46 AM)
Hi All,

One of my friend have a unit to let go:

- Blk B 9th floor, 1021sf, 3r2b, purchased price at RM401,000.

- Fully Furnished.

- Asking for premium of RM40,100(10%).

-The 5% will be refunded back to you once u obtained 90% loan.

Interested do sms me or call 016-2080516 for details. Tq
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People actually ask RM40,100 premium for this project??!!! Omg.....
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1282009
post Jul 14 2011, 01:37 AM


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QUOTE(beandk @ Jul 13 2011, 11:20 PM)
People actually ask RM40,100 premium for this project??!!! Omg.....
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Wow, easy $$$ ..


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NormanPuchong
post Jul 14 2011, 10:07 AM


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Then the rate of return maybe lower than 5%, considering the mark-up of RM40k, since the developer's GRR is based on their selling price.
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sampool
post Jul 14 2011, 10:53 AM


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later on ppl will rather sell it with lose...
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ronn77
post Jul 14 2011, 11:31 AM


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At the current asking price it seems the price per sqft is hitting RM450/sqft which personally I think the price has gone up to the roof and left no room for new buyer's gain margin. There's many and plenty of projects to choose from if buyer can pay RM450/sqft and I hardly see any factors for capital appreciation in the future for this project.
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NormanPuchong
post Jul 15 2011, 06:54 PM


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i share yr views....
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cova
post Jul 18 2011, 12:09 PM


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QUOTE(NormanPuchong @ Jul 6 2011, 10:15 AM)
i was almost booked a unit in May 11. i went to Andaman office in USJ on Saturday and that time not much ppl and there are still units available in block B (as informed by the SA).

After thinked twice, decided not go as the actual return is around 4-5% (based on net amount after deducting the furniture cost of RM50k, which i think is too high, and the furniture package is referring to fans (not air-con), tables, chairs, wardrabe, bed and mattress..even not hv cooking hood, refri., and cooker). First 3 years, they will not charge any maintenance fee, but for the second 3 years renewal terms..3 or 4 months rental will be charged for maintenance fee..

Anyway, dif investors got dif preference..since this is a GRR scheme, at least the investors are ensure of tenancy and rental regardless of what is the rate of return..

Good luck to Arc investor.


Added on July 6, 2011, 10:17 amsorry..opps..should be "i think is too low..."...
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Look at this before investing in student renting GRR scheme.
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fongjw
post Jul 28 2011, 04:36 PM


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will the 8% GRR be revised as time passes? at 8% today will not be much 10 yrs from now
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Nic8909
post Jul 29 2011, 11:40 AM


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i got a big problem with this developer. This developer make me headache X 10. Do hold on, i will post the list of "Bad Services" after i got the refund. Stay Tune !!!!!
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max_cavalera
post Jul 30 2011, 09:21 PM


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this project is beside the Cyberia smarthomes, i think the student rather prfer to stay there as it is closer to walking distnce to mmu. u hav to have a transport to go to d college there. but IMHO as an owner and renting to ppl here in CYBER, dont underestimate the working class in CYberjaya. It is better for renting to them as they also prefer to stay nearer to their workplace. Currently my tenant 4 ppl are working, only 1 is student. It has always been that way.


Added on July 30, 2011, 9:22 pmthe problem and challenge that will occur is not finding the tenant to stay in ur unit. I can almost guarantee u wont have any problem with that here in CYber. The true challenge is to make sure u break even and not losing money as the reasonable rental fees might not even be high enough to cover your monthly loan commitment and monthly service fee....

This post has been edited by max_cavalera: Jul 30 2011, 09:22 PM
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thunderaj
post Aug 15 2011, 12:22 PM


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LAstest i heard people are buying the units by undertable money as much as rm 10000.
Something wrong somewhere..


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clanzkiller
post Aug 15 2011, 02:36 PM


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QUOTE(thunderaj @ Aug 15 2011, 12:22 PM)
LAstest i heard people are buying the units by undertable money as much as rm 10000.
Something wrong somewhere..
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hahaha, u sure bro? the developer is having a free lunch buffet last week. If undertable money is applicable, they do not need to cater food to attract customer again?
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cova
post Aug 16 2011, 10:35 AM


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QUOTE(clanzkiller @ Aug 15 2011, 02:36 PM)
hahaha, u sure bro? the developer is having a free lunch buffet last week. If undertable money is applicable, they do not need to cater food to attract customer again?
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Exactly, the developer has been heavily advertised their project too.
My advise is to strictly avoid Andaman at all!!!
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thunderaj
post Aug 16 2011, 10:45 AM


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QUOTE(clanzkiller @ Aug 15 2011, 02:36 PM)
hahaha, u sure bro? the developer is having a free lunch buffet last week. If undertable money is applicable, they do not need to cater food to attract customer again?
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Yes bro.
Get the info from reliable source.

Well at this point not sure who is getting the undertable money.


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clanzkiller
post Aug 16 2011, 10:42 PM


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QUOTE(thunderaj @ Aug 16 2011, 10:45 AM)
Yes bro.
Get the info from reliable source.

Well at this point not sure who is getting the undertable money.
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Might be true...but I really saw them cater free buffet that weekend.
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NormanPuchong
post Oct 5 2011, 05:56 PM


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"i got a big problem with this developer. This developer make me headache X 10. Do hold on, i will post the list of "Bad Services" after i got the refund. Stay Tune !!!!! "

BroNic8909, are u manage to get yr refund?


Added on October 17, 2011, 10:33 amMGG, this week end r u going to the side? Are there any pictures taken by you to be shared? notworthy.gif

This post has been edited by NormanPuchong: Oct 17 2011, 10:33 AM
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jacobcheong
post Nov 3 2011, 03:55 PM


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i too have doubts on the developer and their projects.

sorry sidetrack to another of andaman's property called the Academia at south city mall in sri kembangan.

my brother booked a unit in block A and his loan was rejected by Affin bank.
He also tried to apply to many other banks but they denied his application. Why?
I'm not sure but some SAs say its because they have no confidence in the developer. True?

Thinking about it, what happens after the 3+3+4 years of GRR? The property will be returned to us and then it becomes our responsibilty to find our own tenants?
How sure are we that ppl will want to rent the place?

And if we want to sell it in the 3rd yr (for e.g.), will it be attractive enough for ppl to purchase? since theres only 3+4 yrs left of GRR? wil ppl even want to buy it at all?

How about the resale value? Ok, im sure it will increase by ~ 20-30% after completion but just afraid it will become stagnant after that.
Casa subang in USJ (also by andaman) seems to have its price in stagnation albeit the buzyness of the area surrounding it. No significant difference in price last yr and this yr. (sorry, no info on price 2-3 yrs back as i only remember last yr's bcos i was searching for a good property to buy). Just saying.

The property only sounds attractive in the beginning but what about it being a good property for long term investment?

anyway these are just my opinions . Would like to hear yours if u can input.
thanks

Lifehouse
(I'm not the real user. tumpang-ing user's account to comment)

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sampool
post Nov 3 2011, 04:12 PM


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QUOTE(jacobcheong @ Nov 3 2011, 04:55 PM)
i too have doubts on the developer and their projects.

sorry sidetrack to another of andaman's property called the Academia at south city mall in sri kembangan.

my brother booked a unit in block A and his loan was rejected by Affin bank.
He also tried to apply to many other banks but they denied his application. Why?
I'm not sure but some SAs say its because they have no confidence in the developer. True?

Thinking about it, what happens after the 3+3+4 years of GRR? The property will be returned to us and then it becomes our responsibilty to find our own tenants?
How sure are we that ppl will want to rent the place?

And if we want to sell it in the 3rd yr (for e.g.), will it be attractive enough for ppl to purchase? since theres only 3+4 yrs left of GRR? wil ppl even want to buy it at all?

How about the resale value? Ok, im sure it will increase by ~ 20-30% after completion but just afraid it will become stagnant after that.
Casa subang in USJ (also by andaman) seems to have its price in stagnation albeit the buzyness of the area surrounding it. No significant difference in price last yr and this yr. (sorry, no info on price 2-3 yrs back as i only remember last yr's bcos i was searching for a good property to buy). Just saying.

The property only sounds attractive in the beginning but what about it being a good property for long term investment?

anyway these are just my opinions . Would like to hear yours if u can input.
thanks

Lifehouse
(I'm not the real user. tumpang-ing user's account to comment)
*
put in this way.. if the investment so good and said got 8% return... not andaman dun sapu all the unit and become landlord and then form a Realty company and public listed it... think twice of the GRR... there must be monthly liability the owner need to bear... no free lunch in this world.
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spydermind
post Nov 3 2011, 06:46 PM


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QUOTE(jacobcheong @ Nov 3 2011, 03:55 PM)
i too have doubts on the developer and their projects.

sorry sidetrack to another of andaman's property called the Academia at south city mall in sri kembangan.

my brother booked a unit in block A and his loan was rejected by Affin bank.
He also tried to apply to many other banks but they denied his application. Why?
I'm not sure but some SAs say its because they have no confidence in the developer. True?

Thinking about it, what happens after the 3+3+4 years of GRR? The property will be returned to us and then it becomes our responsibilty to find our own tenants?
How sure are we that ppl will want to rent the place?

And if we want to sell it in the 3rd yr (for e.g.), will it be attractive enough for ppl to purchase? since theres only 3+4 yrs left of GRR? wil ppl even want to buy it at all?

How about the resale value? Ok, im sure it will increase by ~ 20-30% after completion but just afraid it will become stagnant after that.
Casa subang in USJ (also by andaman) seems to have its price in stagnation albeit the buzyness of the area surrounding it. No significant difference in price last yr and this yr. (sorry, no info on price 2-3 yrs back as i only remember last yr's bcos i was searching for a good property to buy). Just saying.

The property only sounds attractive in the beginning but what about it being a good property for long term investment?

anyway these are just my opinions . Would like to hear yours if u can input.
thanks

Lifehouse
(I'm not the real user. tumpang-ing user's account to comment)
*
YOu have to check the credit rating of your brother. If those banks are panel bank, they would have already evaluated and approved the project. So in that case, it will not be the bank having no confidence in the project...

Most of the property also need you to find the tenant yourself (or indirectly via agent).....it is just that this one at least guarantee rental for a few years.

YOu are very sure the price will increase upon complete but afraid it will become stagnant ? I dont know your concern actually....that is part of the risk right in any investment....if you dont think it increase after that, then sell it off after that....simple.

all the while it has been very common to have moderate price increase especially for condo.....slow increase.....but it is just that the past 2 years had been very phenomenal....so, dont expect everyday is sunday....


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jacobcheong
post Nov 4 2011, 01:20 PM


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Thanks sampool and spyderman for your input biggrin.gif
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clanzkiller
post Nov 4 2011, 03:53 PM


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QUOTE(spydermind @ Nov 3 2011, 06:46 PM)
YOu have to check the credit rating of your brother. If those banks are panel bank, they would have already evaluated and approved the project. So in that case, it will not be the bank having no confidence in the project...

Most of the property also need you to find the tenant yourself (or indirectly via agent).....it is just that this one at least guarantee rental for a few years.

YOu are very sure the price will increase upon complete but afraid it will become stagnant ? I dont know your concern actually....that is part of the risk right in any investment....if you dont think it increase after that, then sell it off after that....simple.

all the while it has been very common to have moderate price increase especially for condo.....slow increase.....but it is just that the past 2 years had been very phenomenal....so, dont expect everyday is sunday....
*
Indeed very good replied!
Try to look at a bigger photo, don't just be so narrow and make the conclusion by either yourself or minority parties.

Regarding this:

my brother booked a unit in block A and his loan was rejected by Affin bank.
He also tried to apply to many other banks but they denied his application. Why?
I'm not sure but some SAs say its because they have no confidence in the developer. True?

the SA you mentioned, i supposed is the bankers. True or not, you have to find out either by yourself or your brother.
Please check with the bank, for what are the reason they denied his application.
If out of 8 banks, they came back with an answer stating that they do not have confidence in the developer, the project, then this developer basically is going down, and the project will be dismissed in a very short time.
But if the project is still undergoing, and people still be able to purchase through developer, there are only few reason:
1. Your brother financial statement might not strong enough.
2. The bank quota is full.

There are some reason that the bank do not tide up the project, or used to but no longer, reason might be because of the policy change in between the bank and the developer.

And for those banker out there, who can simply said, "oh our bank have no confidence in the developer", if that is the real case, ok no problem. But if there is because of another reason, and yet the banker use this as a reason of rejection, then please quit your job before you get sue.

This post has been edited by clanzkiller: Nov 4 2011, 03:55 PM
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scubaleesk
post Nov 21 2011, 03:43 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.
*
Since we are in this topic of this developer i need to highlight my plight so that when others read this please be careful.

This developer owes me my rental for Casa subang behind Menara summit and didnt pay me.

The tenancy agreement states 1st June 2008 but they rented out my unit 3 months ahead without any notice to me. i found out when i inspected the unit and demanded that i be paid that 3 months ( Mar to May) hence they paid me sometime mid June 2008.

I just sold the apartments (2 units) and they hold back my last 3 months rental saying that they already paid me in advance the 3 months which i received in june 2008.

There is no provision in the agreement for them to rent my unit earlier and not paying me for it. Just imagine if 40 units then they earned 120 months rental of RM2000 per month. so many owners doesnt know that theuir unit has been rented out otherwise who in the right mind will pay you 3 months advance rental payment. for me that is 6 months rental since i have 2 units.

Be very careful with guaranteed rental scheme. the agreement is in favour of the developer at all times.

1.0 you cannot terminate the agreement if you opt for the GRR
2.0 developer can terminate by default if they dont pay you for 3 months in rental arrears
3.0 they will charge you 3 months in advance for internal maintenance of your property during your renewal which is very high. (Arc residence)
4.0 check out their finishing. quality is poor considering the cost you pay.
5.0 the furnishing cost - RM55K per apartment is what they are charging. your interior contractor will tell you it probabaly will cost aprox RM20K for such quality and based on the nos of unit. ( project quantity)

At the end of the day there is no Guarantee as they have so many ways to exit from this 25 years GRR.


Added on November 21, 2011, 3:51 pm
QUOTE(NormanPuchong @ Oct 5 2011, 05:56 PM)
"i got a big problem with this developer. This developer make me headache X 10. Do hold on, i will post the list of "Bad Services" after i got the refund. Stay Tune !!!!! "

BroNic8909, are u manage to get yr refund?


Added on October 17, 2011, 10:33 amMGG, this week end r u going to the side? Are there any pictures taken by you to be shared?  notworthy.gif
*
guys i have the same problem. i just posted below earlier. nightmare for me!!

This post has been edited by scubaleesk: Nov 21 2011, 03:51 PM
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airline
post Nov 27 2011, 05:30 PM


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Saw this at klcc
Block b, c, d still available
Worth to go in? People still buying. Too few staff

Tempting
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shaquenator
post Nov 27 2011, 09:40 PM


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QUOTE(airline @ Nov 27 2011, 05:30 PM)
Saw this at klcc
Block b, c, d still available
Worth to go in?  People still buying. Too few staff

Tempting
*
wahhh, so long still they sell ? aiyah very simple, if it is really that good, with GUARANTEED RENTAL, do you think they still need to do hard sell until now ? Seriously, with that kind of price ( RM 400K ), not worth it at all....maybe a lot of investors will buy lah, that's why you see STILL many people are buying, for all you know many people are surrending their units at the back laugh.gif

when a property is more than rm300K, you must always be careful....it's true that investing in property will earn you more money, but never also overlook the possibility of getting loss. and last but not list, always, always, always, always do a background check on their directors and also all their past projects. dont always think if you dont buy, other people will buy and you felt at loss. Instead think, is this property really that good ? trust me, it's better to miss an opportunity to buy a cheap property than to get trapped in buying an "expensive" property. I dont think any developer will say honest things about their development, all will say this say that....may sound impressive, but the more impressive it sounds, the more careful you have to be! Always remember also, developer WILL NEVER give you FREE THINGS smile.gif

it's all part of marketing gimmick.

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guchemk
post Dec 11 2011, 11:04 PM


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Hi, I am new here in this forum.
anymore update for this Andaman and ARC?

I feel so worry now after reading thru all the posts as I just bought a unit in last month.

I should search more info before buying this ARC.....


Added on December 11, 2011, 11:06 pmAny complain from Cova Villa or Cova Suites about the quality of the building and the GRR ?


This post has been edited by guchemk: Dec 11 2011, 11:06 PM
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Guppy11
post Dec 12 2011, 01:50 PM


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QUOTE(guchemk @ Dec 11 2011, 11:04 PM)
Hi, I am new here in this forum.
anymore update for this Andaman and ARC?

I feel so worry now after reading thru all the posts as I just bought a unit in last month.

I should search more info before buying this ARC.....


Added on December 11, 2011, 11:06 pmAny complain from Cova Villa or Cova Suites about the quality of the building and the GRR ?
*
Building quality actually so so, not consider bad nor good ......

Not detail enough..... they can give you free aircond with no conceal .....

carpark ramp bit small ..... bad design....design wise still need improvement ...

GRR so far heard late only......

As long as you buy at lower price, do not expect too high .......they may cut cost and save the "grand lobby" .....end up they deliver small lobby after huge complaints flooding to them .... so, make sure they deliver whatever inside the brouchure ....

I watch the tv adv "Cadbury dairy milk" ...seems like shot at Cova villa.... can someone confirm?
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guchemk
post Dec 13 2011, 07:03 PM


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QUOTE(Guppy11 @ Dec 12 2011, 01:50 PM)
Building quality actually so so, not consider bad nor good ......

Not detail enough..... they can give you free aircond with no conceal .....

carpark ramp bit small ..... bad design....design wise still need improvement ...

GRR so far heard late only......

As long as you buy at lower price, do not expect too high .......they may cut cost and save the "grand lobby" .....end up they deliver small lobby after huge complaints flooding to them .... so, make sure they deliver whatever inside the brouchure ....

I watch the tv adv "Cadbury dairy milk" ...seems like shot at Cova villa.... can someone confirm?
*
Thanks for the info.
But ARC price is not considered cheap already, it is almost RM 400/sqf,
others project in Cyberjaya average price only RM 330/sqf.

Actually, this ARC location is good, and this project can give Andaman a good reputation if he did good in ARC for his future development in Cyberjaya.
Now worry its quality and also worry how much it worth once it finished its building.

Anyway, I called up Andaman, they said block A is sold out, B and C still some units available, block D still got 50% not sold.
Already long time it launched but still not be able to sold out.....if for others developer like Sunway, YTL, IJM, I am sure we got to queue when it launched.

May I know how much it cost now for Cova Villa? Is it big difference in price compared in Y2009 ?

This post has been edited by guchemk: Dec 14 2011, 07:37 AM
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cova
post Dec 15 2011, 11:59 AM


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QUOTE(cova @ Aug 16 2011, 10:35 AM)
Exactly, the developer has been heavily advertised their project too.
My advise is to strictly avoid Andaman at all!!!
*
I said this before and I am saying again.
AVOID ANDAMAN PROJECTS AT ALL COST
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shaquenator
post Dec 15 2011, 12:03 PM


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QUOTE(cova @ Dec 15 2011, 11:59 AM)
I said this before and I am saying again.
AVOID ANDAMAN PROJECTS AT ALL COST
*
in fact, you should put AVOID ANY PROPERTY THAT IS MORE THAN RM 300 K !!!

rclxms.gif
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cova
post Dec 15 2011, 01:06 PM


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QUOTE(shaquenator @ Dec 15 2011, 12:03 PM)
in fact, you should put AVOID ANY PROPERTY THAT IS MORE THAN RM 300 K !!! 

rclxms.gif
*
How? why? Do you understand what you said?
Sound very stupid if you meant what you said, but hopefully you are just joking


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shaquenator
post Dec 15 2011, 01:25 PM


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QUOTE(cova @ Dec 15 2011, 01:06 PM)
How? why? Do you understand what you said?
Sound very stupid if you meant what you said, but hopefully you are just joking
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well, if it sounds stupid, why bother to even reply me doh.gif
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airline
post Dec 15 2011, 02:57 PM


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Cova launch I see rm260k
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cova
post Dec 15 2011, 04:03 PM


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QUOTE(shaquenator @ Dec 15 2011, 01:25 PM)
well, if it sounds stupid, why bother to even reply me  doh.gif
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You are right. My miskake, should't replied to stupidity
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darthvest
post Dec 21 2011, 12:31 PM


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QUOTE(cova @ Dec 15 2011, 11:59 AM)
I said this before and I am saying again.
AVOID ANDAMAN PROJECTS AT ALL COST
*
Thanks Cova for highlighting this.
I had read up some threads/news pertaining to Andaman aka Meda Bhd.
Based on the report, it seems like, they are quite "foxy", sucking dry Meda and create another entity ie Andaman to expand their business.
Earlier i thought of this Arc project for investment but now need to dig more info about their reliability as well as integrity.
Kudos to you for sharing up.
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sakura888
post Dec 21 2011, 12:34 PM


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QUOTE(cova @ Dec 15 2011, 05:03 PM)
You are right. My miskake, should't replied to stupidity
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true, but since you have replied to shaq, that makes you more stupid. sorry no offense, it's just it takes one to know one. brows.gif

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ngaisteve1
post Dec 21 2011, 12:37 PM


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yes, beware of this developer.
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post Dec 21 2011, 12:40 PM


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QUOTE(sakura888 @ Dec 21 2011, 12:34 PM)
true, but since you have replied to shaq, that makes you more stupid. sorry no offense, it's just it takes one to know one.  brows.gif
*
LOL rclxm9.gif

it's just it takes one to know one. >>> so true, I didnt even say anything he already comment, guess he must have people said him stupid before lah.
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darthvest
post Dec 21 2011, 12:55 PM


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Btw, how is the sale so far for Arc? Last check was like still have 30-40%
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post Dec 21 2011, 03:47 PM


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not worth to buy....
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guchemk
post Dec 22 2011, 11:05 AM


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I got no choice now, can only go ahead as already paid 20%....:-(

I asked the Andaman's sales girl severa times for the internet information abt Andaman and Medaa Inc.Bhd, but she just denied it.
What to do ?

So far, till yesterday, block B still got 5 units left, block C still got 20 units, and block D still got MANY left !!

Just wonder, why government never go and control those loudsy developers like Andaman ?
Andaman will be the previous Talam ?


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Guppy11
post Dec 22 2011, 11:24 AM


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QUOTE(guchemk @ Dec 22 2011, 11:05 AM)
I got no choice now, can only go ahead as already paid 20%....:-(

I asked the Andaman's sales girl severa times for the internet information abt Andaman and Medaa Inc.Bhd, but she just denied it.
What to do ?

So far, till yesterday, block B still got 5 units left, block C still got 20 units, and block D still got MANY left !!

Just wonder, why government never go and control those loudsy developers like Andaman ?
Andaman will be the previous Talam ?
*
Atleast no abandoned project from Andaman so far ..... from the GRR stratey, obviously they want to stay long in this line for more than 25 years in Cyberjaya... making use of the investors' money for them to take in the rental income ....

They won't cabut for now as they still have some projects coming to Ipoh, Segamat,.....


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sampool
post Dec 22 2011, 11:41 AM


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QUOTE(shaquenator @ Dec 15 2011, 01:03 PM)
in fact, you should put AVOID ANY PROPERTY THAT IS MORE THAN RM 300 K !!! 

rclxms.gif
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wat u said is true.. just avoid.. except for own stay.
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guchemk
post Dec 22 2011, 05:35 PM


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QUOTE(Guppy11 @ Dec 22 2011, 11:24 AM)
Atleast no abandoned project from Andaman so far ..... from the GRR stratey, obviously they want to stay long in this line for more than 25 years in Cyberjaya... making use of the investors' money for them to take in the rental income ....

They won't cabut for now as they still have some projects coming to Ipoh, Segamat,.....
*
I hope so.....
Actually, I worked in Cyberjaya, and I know that ARC location strategy is quit good,
that's why I am willing to invest it even it is bit expensive than others service apartments in CJ.

But after reading through abt Andaman background,
I am totally surrendered and regret to buy it.

Hope Andaman management team understand why their units till todays still not be able to sold out after many months lauched...

Furthermore, I believed CJ will boomed up in coming next few years,
and if Andaman did well in ARC, then will be a lot opportunities for them in the future.




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Guppy11
post Dec 22 2011, 07:28 PM


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Why you choose this and not other condo nearby without GRR? Is it becoz u want to hold long?
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guchemk
post Dec 22 2011, 10:28 PM


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QUOTE(Guppy11 @ Dec 22 2011, 07:28 PM)
Why you choose this and not other condo nearby without GRR? Is it becoz u want to hold long?
*
Even though ARC advertise its GRR 8%, actually its ROI only around 5%.
(after minus those ID cost, insurance, and 3 months rental for every 4 years),

If compared with other areas like PJ, K.Damansara, Cheras, Setapak and etc which ROI is much higher (7% - 10%.),
ARC actually is not that attractive if so.

Then why I still go ahead for this ARC before come to lowyat forum ?
1) Because my job need to travel to oversea quit often,
I dun think I have time to hande those renting.

2) Location Stretegy, it is besides Symphony, and many big companies and expatriats nearby.
3) Future development in CJ
4) ARC commit to handle all the ID, F/F, and developer will bear all the cost of lost and damage for all furniture and fitting during the GRR period.
of course GRR for 25 years is another main reason I invest ARC.

So far, for I heard from agents, ARC had a agreement with MMU to rent out the units for RM 500 per student,
that mean ARC make use our units to earn "side income" for Andaman.
But as long as they manage well, and the quality is not bad, GRR 8% for 25 years, I think it is ok to me and those "lazy investors".

But now, after knowing so much abt this Andaman background and its history,
I feel so angry and also so worry and panic.
Furthermore, our S&P is signed between "Maju Puncakbumi Sdn Bhd" and "buyers", not between "Andaman" and buyers,
so it may really come to happen that Maju Puncakbumi will "eat" our money and later announce to bankrupt,
We then can not do much to its parent company "Andaman".......

God bless me .....


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Guppy11
post Dec 22 2011, 11:27 PM


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Possible to form JMB for ARC? Or Andaman will manage the condo for 25years since the GRR is 25 years?
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guchemk
post Dec 23 2011, 09:02 AM


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QUOTE(Guppy11 @ Dec 22 2011, 11:27 PM)
Possible to form JMB for ARC? Or Andaman will manage the condo for 25years since the GRR is 25 years?
*
Yes, I think so, it did mention in the S&P and Option Agreement to form JMB/MC with condition.

One of the clauses:

10 TERMINATION

10.4 Notwithstanding Clause 10.3, it is hereby mutually agreed that in the event:-
(i) the Vendor is not elected as the chairman of the Joint Management Committee or the council of the Management Corporation.
(ii) the Vendor or its nominee or Manager or agent appointed by the Vendor is not appointed as the property manager to manage the property to be
erected under the Development

the Vendor shall be entitled to terminate the Tenancy at any time by giving one
(1) month written notice to the Purchaser of such termination and subject to
payment by the Vendor to the Purchaser of all accrued rental, neither party shall
have any claims against the other party save for any antecedent breach and the
Vendor and/or Manager shall peaceably surrender and yield up to the Purchaser
possession of the Serviced Apartment.



Added on December 23, 2011, 9:11 amSo, u can see that:

Vendor (Maju Puncakbumi ) MUST be elected as the chairman of the JMB or MC else tenancy will be terminated !!!!

As I said, Andaman earn from buyers at least 2 times from:
a) first time - seling properties to buyers with extra 50K ID cost.
and RM 400/sqf
b) Earn extra 3 months rental fees for every 4 years option agreement
c) Earn extra from buyer's monthly rental fees, i.e. rent to students for RM 3K per unit, but only pay 2K to the buyers.

But, again, if Andaman manage well and the quality of units is good, most investors won't be so calculative.
The main probem now is, buyers lost the confidence from Andaman,
after many cases happened in Cova Villa/Suites and Casa Subang.....


Added on December 23, 2011, 9:17 am
[b]Buyers from ARC are strongly encouraged to join this forum so that we can group together our power to face Andaman in case anything happened in future !!!!![/b]

Added on December 23, 2011, 9:20 amAnyone of you here bought the ARC like me ?
Please comment !!

Thanks !!

This post has been edited by guchemk: Dec 23 2011, 09:21 AM
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ronn77
post Dec 23 2011, 09:43 AM


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Few weeks ago I was walk in Subang Parade and saw Andaman setting their booth promoting the current projects. One of the development consist of shoplot at JB which they guarantee return of up to 10% p.a. Anyway as I know how "reputable" they are, will not even bother to consider even if the GRR is 15% simply we know who Andaman is and there is plenty of other developments which represent a better value buy.
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guchemk
post Dec 23 2011, 10:31 AM


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QUOTE(ronn77 @ Dec 23 2011, 09:43 AM)
Few weeks ago I was walk in Subang Parade and saw Andaman setting their booth promoting the current projects. One of the development consist of shoplot at JB which they guarantee return of up to 10% p.a. Anyway as I know how "reputable" they are, will not even bother to consider even if the GRR is 15% simply we know who Andaman is and there is plenty of other developments which represent a better value buy.
*
Before that, I am also quite interested in Andaman's Ipoh - Taipan project,
but now no more, and will not buy any more Andaman coming future properties no matter how good it is.

As what you said, still got many best buy properties from those good deveopers like IOI, MahShing, Sunrise, IJM, YTL, Sunway.....



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cova
post Dec 29 2011, 05:11 PM


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QUOTE(guchemk @ Dec 22 2011, 10:28 PM)
Even though ARC advertise its GRR 8%, actually its ROI only around 5%.
(after minus those ID cost, insurance, and 3 months rental for every 4 years),

If compared with other areas like PJ, K.Damansara, Cheras, Setapak and etc which ROI is much higher (7% - 10%.),
ARC actually is not that attractive if so.

Then why I still go ahead for this ARC before come to lowyat forum ?
1) Because my job need to travel to oversea quit often,
   I dun think I have time to hande those renting.

2) Location Stretegy, it is besides Symphony, and many big companies and expatriats nearby.
3) Future development in CJ
4) ARC commit to handle all the ID, F/F, and developer will bear all the cost of lost and damage for all furniture and fitting during the GRR period.
of course GRR for 25 years is another main reason I invest ARC.

So far, for I heard from agents, ARC had a agreement with MMU to rent out the units for RM 500 per student,
that mean ARC make use our units to earn "side income" for Andaman.
But as long as they manage well, and the quality is not bad, GRR 8% for 25 years, I think it is ok to me and those "lazy investors".

But now, after knowing so much abt this Andaman background and its history,
I feel so angry and also so worry and panic.
Furthermore, our S&P is signed between "Maju Puncakbumi Sdn Bhd" and "buyers", not between "Andaman" and buyers,
so it may really come to happen that Maju Puncakbumi will "eat" our money and later announce to bankrupt,
We then can not do much to its parent company "Andaman".......

God bless me .....
*
Do you know that for every Andaman projects, they will register a RM2 company to handle the project. The registered companies only used nominees(young man and young chics) as company's director and share holders.
You can do a company search and you will be shocked!


Added on December 29, 2011, 5:19 pm
QUOTE(guchemk @ Dec 22 2011, 11:05 AM)
I got no choice now, can only go ahead as already paid 20%....:-(

I asked the Andaman's sales girl severa times for the internet information abt Andaman and Medaa Inc.Bhd, but she just denied it.
What to do ?

So far, till yesterday, block B still got 5 units left, block C still got 20 units, and block D still got MANY left !!

Just wonder, why government never go and control those loudsy developers like Andaman ?
Andaman will be the previous Talam ?
*
What? Did you expect her to say [COLOR=red]YES, ITS TRUE?

This post has been edited by cova: Dec 29 2011, 05:19 PM
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darthvest
post Dec 29 2011, 06:20 PM


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[quote=cova,Dec 29 2011, 05:11 PM]
Do you know that for every Andaman projects, they will register a RM2 company to handle the project. The registered companies only used nominees(young man and young chics) as company's director and share holders.
You can do a company search and you will be shocked!

Wow...that is really a shock. How could they do that? I mean we are talking about 2-3 digits million project here. This sort of developer must be held accountable for their integrity and responsibility.
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airline
post Dec 29 2011, 06:24 PM


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QUOTE(ronn77 @ Dec 23 2011, 09:43 AM)
Few weeks ago I was walk in Subang Parade and saw Andaman setting their booth promoting the current projects. One of the development consist of shoplot at JB which they guarantee return of up to 10% p.a. Anyway as I know how "reputable" they are, will not even bother to consider even if the GRR is 15% simply we know who Andaman is and there is plenty of other developments which represent a better value buy.
*
shoplots also got grr.
lucky got internet then
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shaquenator
post Dec 30 2011, 01:13 AM


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QUOTE(guchemk @ Dec 22 2011, 10:28 PM)
Even though ARC advertise its GRR 8%, actually its ROI only around 5%.
(after minus those ID cost, insurance, and 3 months rental for every 4 years),

If compared with other areas like PJ, K.Damansara, Cheras, Setapak and etc which ROI is much higher (7% - 10%.),
ARC actually is not that attractive if so.

Then why I still go ahead for this ARC before come to lowyat forum ?
1) Because my job need to travel to oversea quit often,
   I dun think I have time to hande those renting.

2) Location Stretegy, it is besides Symphony, and many big companies and expatriats nearby.
3) Future development in CJ
4) ARC commit to handle all the ID, F/F, and developer will bear all the cost of lost and damage for all furniture and fitting during the GRR period.
of course GRR for 25 years is another main reason I invest ARC.

So far, for I heard from agents, ARC had a agreement with MMU to rent out the units for RM 500 per student,
that mean ARC make use our units to earn "side income" for Andaman.
But as long as they manage well, and the quality is not bad, GRR 8% for 25 years, I think it is ok to me and those "lazy investors".

But now, after knowing so much abt this Andaman background and its history,
I feel so angry and also so worry and panic.
Furthermore, our S&P is signed between "Maju Puncakbumi Sdn Bhd" and "buyers", not between "Andaman" and buyers,
so it may really come to happen that Maju Puncakbumi will "eat" our money and later announce to bankrupt,
We then can not do much to its parent company "Andaman".......

God bless me .....
*
a leson for you and others, which i have repeated a lot of times....there's no free lunch in this world, and there's no kind developer

if it "appears" to be kind, there must be a gimmick involved or it is a joint venture with government...


Added on December 30, 2011, 1:18 amthe best is, wait for harga runtuh, then ponly buy, else stop buying as of the property is going to bring luck to you, as what many of the forumers here are horaaying about. Pleaseee, not everyone gets good luck in terms of property appreciation, actually some even get into trouble before property appreciation...

This post has been edited by shaquenator: Dec 30 2011, 01:18 AM
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spydermind
post Dec 30 2011, 07:45 AM


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[quote=darthvest,Dec 29 2011, 06:20 PM]
[quote=cova,Dec 29 2011, 05:11 PM]
Do you know that for every Andaman projects, they will register a RM2 company to handle the project. The registered companies only used nominees(young man and young chics) as company's director and share holders.
You can do a company search and you will be shocked!

Wow...that is really a shock. How could they do that? I mean we are talking about 2-3 digits million project here. This sort of developer must be held accountable for their integrity and responsibility.
*

[/quote]

A lot big developers are doing that to a certain extend (one for several small project, one of 1 big project, 1 for each project, etc).....for tax and finance reason....but what i dislike most is that they will advertsied and leverage reference with the mother company....but the entity that we sign S&P will be a new one or a temp one (once project completion, they will close down the company).

So, remember to keep all the marketing material, brochures that show the involvement of the mother company.....you might need them eventually ...
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guchemk
post Dec 30 2011, 08:29 PM


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QUOTE(spydermind @ Dec 30 2011, 07:45 AM)
A lot big developers are doing that to a certain extend (one for several small project, one of 1 big project, 1 for each project, etc).....for tax and finance reason....but what i dislike most is that they will advertsied and leverage reference with the mother company....but the entity that we sign S&P will be a new one or a temp one (once project completion, they will close down the company).

So, remember to keep all the marketing material, brochures that show the involvement of the mother company.....you might need them eventually ...
*
Thanks !!
YES, I did collect all the brochures, advertisement both in English and Chinese newspapers, Andaman website abt ARC@Cyberjaya.....and etc.
as you said, I may need it eventually one day in future.



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1282009
post Dec 30 2011, 10:01 PM


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QUOTE(spydermind @ Dec 30 2011, 07:45 AM)
A lot big developers are doing that to a certain extend (one for several small project, one of 1 big project, 1 for each project, etc).....for tax and finance reason....but what i dislike most is that they will advertsied and leverage reference with the mother company....but the entity that we sign S&P will be a new one or a temp one (once project completion, they will close down the company).

So, remember to keep all the marketing material, brochures that show the involvement of the mother company.....you might need them eventually ...
*
This is scary .. shakehead.gif


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humble_tot
post Dec 30 2011, 10:44 PM


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QUOTE(guchemk @ Dec 23 2011, 09:02 AM)

The main probem now is, buyers lost the confidence from Andaman,
after many cases happened in Cova Villa/Suites and Casa Subang.....

bro, what happened to Cova Villa/Suites and Casa Subang? I tot of buying Cova Villa for rental nx yr.
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cova
post Jan 4 2012, 10:41 AM


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QUOTE(humble_tot @ Dec 30 2011, 10:44 PM)
bro, what happened to Cova Villa/Suites and Casa Subang? I tot of buying Cova Villa for rental nx yr.
*
Appreciation only
Forget about Cova Villa and Casa subang, prices appreciated a little and not suitable for family staying, purely for students due to the GRS.
Cova Suites ok, good appreciation will happen only after the 3 years free maintenance end this year.

Rental
Remember! for save, the rental of a condo unit must not be less than 6% of your property value.
For example: 400000 x 6% = 24000 (yearly yield)
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spydermind
post Jan 4 2012, 12:16 PM


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QUOTE(cova @ Jan 4 2012, 10:41 AM)
Appreciation only
Forget about Cova Villa and Casa subang, prices appreciated a little and not suitable for family staying, purely for students due to the GRS.
Cova Suites ok, good appreciation will happen only after the 3 years free maintenance end this year.

Rental
Remember! for save, the rental of a condo unit must not be less than 6% of your property value.
For example:  400000 x 6%  = 24000 (yearly yield)
*
That's really depends on a few things, firstly, gross yield or net yield ? Secondly, the market price for the rental? SOmetimes, we might want 6-8% but, if the market price for rental cna only provide 5%, i guess you will have to decide if to sell it off or not.

Lastly, if property price increases every year, the rental might not follow the same increment rate as it will be very much depending market demand.......

In my personal opinion, the yield of proeprty would become lower subsequently (overall).....
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thilak833
post Jan 17 2012, 12:31 PM


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I've been working in Cyberjaya for the past 7 years. I have got an apartment in Cyberjaya 3 years ago which i just sold off.

Ironically, there are at least 7 projects which will be completing in the year of 2013 - 2014 and vary from Semi-D, SOHO and Condos.

Main Question is Why developers are investing and developing this area?
On the other hand, the houses built are none for family based but mostly for investments which then will be rented to the students.

Monthly, you would expect at least RM 2500 per unit to fulfill the installments. With high number of supply and low number of demaind, prices could not be as high as RM2500.
Maintenance is a cut throat minimum of 0.35 /sqft (its not really maintained to be honest)

So, despite all these, why would anyone want to invest in Cyberjaya. Honestly, 3 years i owned a place in Cyberjaya. I do have an appreciated value of the place, BUT, that was 3 years ago, when this apartment i bought was the newest among the rest.

I'm seeing 2013 -2014 will be the years where house owners are going to be hunting for tenants instead of the other way. Well, just my seventh sense.


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thunderaj
post Jan 17 2012, 02:33 PM


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QUOTE(thilak833 @ Jan 17 2012, 12:31 PM)
I've been working in Cyberjaya for the past 7 years. I have got an apartment in Cyberjaya 3 years ago which i just sold off.

Ironically, there are at least 7 projects which will be completing in the year of 2013 - 2014 and vary from Semi-D, SOHO and Condos.

Main Question is Why developers are investing and developing this area?
On the other hand, the houses built are none for family based but mostly for investments which then will be rented to the students.

Monthly, you would expect at least RM 2500 per unit to fulfill the installments. With high number of supply and low number of demaind, prices could not be as high as RM2500.
Maintenance is a cut throat minimum of 0.35 /sqft (its not really maintained to be honest)

So, despite all these, why would anyone want to invest in Cyberjaya. Honestly, 3 years i owned a place in Cyberjaya. I do have an appreciated value of the place, BUT, that was 3 years ago, when this apartment i bought was the newest among the rest.

I'm seeing 2013 -2014 will be the years where house owners are going to be hunting for tenants instead of the other way. Well, just my seventh sense.
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you might be right
too many house in 2013 and 2014

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ronn77
post Jan 17 2012, 02:45 PM


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QUOTE(thilak833 @ Jan 17 2012, 12:31 PM)
I've been working in Cyberjaya for the past 7 years. I have got an apartment in Cyberjaya 3 years ago which i just sold off.

Ironically, there are at least 7 projects which will be completing in the year of 2013 - 2014 and vary from Semi-D, SOHO and Condos.

Main Question is Why developers are investing and developing this area?
On the other hand, the houses built are none for family based but mostly for investments which then will be rented to the students.

Monthly, you would expect at least RM 2500 per unit to fulfill the installments. With high number of supply and low number of demaind, prices could not be as high as RM2500.
Maintenance is a cut throat minimum of 0.35 /sqft (its not really maintained to be honest)

So, despite all these, why would anyone want to invest in Cyberjaya. Honestly, 3 years i owned a place in Cyberjaya. I do have an appreciated value of the place, BUT, that was 3 years ago, when this apartment i bought was the newest among the rest.

I'm seeing 2013 -2014 will be the years where house owners are going to be hunting for tenants instead of the other way. Well, just my seventh sense.
*
Why developers are keep on launching properties at Cyberjaya?

Reason is simple, if not launch it now during buying frenzy period, then when?

Can says that 99% buying is not for own stay so you got the point right which is 2013-2014 will be the year where owner looking for tenant or buyer.
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jacob888
post Jan 17 2012, 03:23 PM


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cyberjaya sure supply more than demand.... who will stay in this town ?
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thilak833
post Jan 17 2012, 03:28 PM


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@jacob888, totally agreed. 7 years been in CBJ, but never had a day that i wanted to stay there. Every little thing are expensive.

If anyone wanna make money in CBJ, the only good opportunity would be setup a Petrol station. There's only one in there and freakin' packed everyday. Even if you were to open illegal petrol station, you may make tonnes of money. LOL. JK !!

Honestly, buying a property with starting price of 400k and trying to earn money out of it, well. i dont really fancy it. I'd rather keep that cash in FD. At least definite return is there though its small.
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shaquenator
post Jan 18 2012, 12:31 AM


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QUOTE(ronn77 @ Jan 17 2012, 02:45 PM)
Why developers are keep on launching properties at Cyberjaya?

Reason is simple, if not launch it now during buying frenzy period, then when?

Can says that 99% buying is not for own stay so you got the point right which is 2013-2014 will be the year where owner looking for tenant or buyer.
*
unfortunately true....i just hope more and more launches will happen in 2012....then those people who when i say the price is too expensive lah, later price will go down lah all get angry of me, when 2013 comes, wait let them see the real situation.
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spydermind
post Jan 18 2012, 01:03 AM


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"who will stay in this town?"

I dont dare to say that if I were you....

Years ago, people questioning why invest in Shah Alam? No entertainment license given, minimal dog licence, lack of food, etc.....well....is this still the same case today??

How about puchong? I heard so many people saying, who want to move to puchong? So jammed up, security is not good, etc.

Many many more example.....maybe many of us will not move a particular or several location....but there are enough people willing or wanting to move to those location for personal reason.

When cyberjaya started, people questioned who want to work at that location? Yes, you might be right, but , there are many willing to work there as of today.....

Only time will tells....by the way, many location or development take years to get populated or for people to move in.......so, pls dont expect cyberjaya to be immediately filled up right after all the current launches being VPed.

Fren, MK is the same despite many like to live there, is it pretty empty on on several condo to a certain extend....

The most important fact is about sustainability and the economy fundamental...
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ascentic
post Feb 7 2012, 09:38 AM


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Hi there,

Any1 here knows about where is the showroom for The Arc, CyberJaya?

Thanks
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Crystal2
post Feb 12 2012, 02:03 PM


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QUOTE(ascentic @ Feb 7 2012, 09:38 AM)
Hi there,

Any1 here knows about where is the showroom for The Arc, CyberJaya?

Thanks
*
You can view their show unit at No.19 Jalan USJ Sentral 1 (in front of the old USJ1 Giant). Tel: 03-80233366

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ascentic
post Feb 12 2012, 07:16 PM


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QUOTE(Crystal2 @ Feb 12 2012, 03:03 PM)
You can view their show unit at No.19 Jalan USJ Sentral 1 (in front of the old USJ1 Giant). Tel: 03-80233366
*
Thanks allot.

I got many doubts after reading through the bits and pieces of information... =,= sigh!... I want to go nego with the sales agent.. biggrin.gif
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davidlow7
post Feb 13 2012, 12:36 AM


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QUOTE(ascentic @ Feb 12 2012, 07:16 PM)
Thanks allot.

I got many doubts after reading through the bits and pieces of information... =,= sigh!... I want to go nego with the sales agent..  biggrin.gif
*
Good luck. As far as I deal with them you need to pay 5% - booking fee + deposit

Tried to nego if I can pay a few k and the remaining later once loan approved but they wouldn't allow.

Anyway I have decided not to go for it. Now only left units facing west .. probably around 7-8 units. Good luck.
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accetera
post Feb 21 2012, 11:02 PM


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Cyberjaya is still quite difficult to say.. maybe see after 3 years from now?
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NormanPuchong
post Apr 6 2012, 12:13 PM


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Recently, there are so many projects that launched in Cyberjaya, maybe the developer did analysis the number of population increase and the number of work force increase, which contributed to the main reasons for such big number increase of supply in Cyberjaya.

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echoesian
post Apr 11 2012, 06:58 PM


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QUOTE(guchemk @ Dec 22 2011, 10:28 PM)
Even though ARC advertise its GRR 8%, actually its ROI only around 5%.
(after minus those ID cost, insurance, and 3 months rental for every 4 years),

If compared with other areas like PJ, K.Damansara, Cheras, Setapak and etc which ROI is much higher (7% - 10%.),
ARC actually is not that attractive if so.

Then why I still go ahead for this ARC before come to lowyat forum ?
1) Because my job need to travel to oversea quit often,
  I dun think I have time to hande those renting.

2) Location Stretegy, it is besides Symphony, and many big companies and expatriats nearby.
3) Future development in CJ
4) ARC commit to handle all the ID, F/F, and developer will bear all the cost of lost and damage for all furniture and fitting during the GRR period.
of course GRR for 25 years is another main reason I invest ARC.

So far, for I heard from agents, ARC had a agreement with MMU to rent out the units for RM 500 per student,
that mean ARC make use our units to earn "side income" for Andaman.
But as long as they manage well, and the quality is not bad, GRR 8% for 25 years, I think it is ok to me and those "lazy investors".

But now, after knowing so much abt this Andaman background and its history,
I feel so angry and also so worry and panic.
Furthermore, our S&P is signed between "Maju Puncakbumi Sdn Bhd" and "buyers", not between "Andaman" and buyers,
so it may really come to happen that Maju Puncakbumi will "eat" our money and later announce to bankrupt,
We then can not do much to its parent company "Andaman".......

God bless me .....
*
Which area is the one have 7-10% rental yield? I also wanna look into that ...
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Bahkuteh
post Apr 14 2012, 10:04 PM


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Bros,how d work progress for this project? Tx
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janyap
post Apr 30 2012, 01:40 PM


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Yesterday went to the Property expo in Kajang, know about this project and thinking of invest one unit in Block D, seems there are so many negative issues on Andaman, should i give up?

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humble_tot
post Apr 30 2012, 10:51 PM


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QUOTE(janyap @ Apr 30 2012, 01:40 PM)
Yesterday went to the Property expo in Kajang, know about this project and thinking of invest one unit in Block D, seems there are so many negative issues on Andaman, should i give up?
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bro,

Still available ka? Tot sold out long time hmm.gif
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1282009
post Apr 30 2012, 10:57 PM


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QUOTE(janyap @ Apr 30 2012, 01:40 PM)
Yesterday went to the Property expo in Kajang, know about this project and thinking of invest one unit in Block D, seems there are so many negative issues on Andaman, should i give up?
*
How much now?


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initialdd
post Jun 16 2012, 01:27 PM


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may i know, among this 25 years of rental contract, how many years is confrim?
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lynforum
post Jun 16 2012, 01:47 PM


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QUOTE(initialdd @ Jun 16 2012, 01:27 PM)
may i know, among this 25 years of rental contract, how many years is confrim?
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the first x year is kinda confirmed but check out their exit clause, can terminate too.
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echoesian
post Jun 16 2012, 02:16 PM


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QUOTE(lynforum @ Jun 16 2012, 01:47 PM)
the first x year is kinda confirmed but check out their exit clause, can terminate too.
*
Beware, on every term, the first three months rental would be deducted for refurbishment purposes.
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lynforum
post Jun 16 2012, 02:33 PM


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QUOTE(echoesian @ Jun 16 2012, 02:16 PM)
Beware, on every term, the first three months rental would be deducted for refurbishment purposes.
*
yup. to add they pay u quarterly thus 1st 6mth u pay installment urself.
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davidlow7
post Jun 16 2012, 06:15 PM


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Last month there was a unit at highest floor available facing East..

There are several units (5-6) facing West.. I believe it should still have as for the West units.

Price still at RM 370k++ with 5% discount DIBS scheme.


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echoesian
post Jun 16 2012, 06:53 PM


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QUOTE(davidlow7 @ Jun 16 2012, 06:15 PM)
Last month there was a unit at highest floor available facing East..

There are several units (5-6) facing West.. I believe it should still have as for the West units.

Price still at RM 370k++ with 5% discount DIBS scheme.
*
What size?
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lynforum
post Jun 16 2012, 08:49 PM


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as i know arc nv offer dibs. guess he means academia.


Added on June 16, 2012, 8:50 pmrephrase blok a-c with grr no dibs. blok d own stay got dibs.

This post has been edited by lynforum: Jun 16 2012, 08:50 PM
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tatagal
post Jun 16 2012, 09:52 PM


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Anyone knows Arc vs Mutiaraville, which is better?

Arc
-GRR 25 years (8-10%max cap)
-50k for fully furnished
-For MMU students
Every 4 years, 3 month rents are used for refurbishment
-no DIBS
-any discount?
-when is it going to be completed?

Mutiaraville
-GRR 25 years (7-11%)
-50k for fully furnished
-For CUCMS students
-Every 3 years, 1 month rent is used for refurbishment
-no DIBS
-no discount
First Phase will be completed soon


Added on June 16, 2012, 9:53 pmAnyone knows Arc vs Mutiaraville, which is better?

Arc
-GRR 25 years (8-10%max cap)
-50k for fully furnished
-For MMU students
Every 4 years, 3 month rents are used for refurbishment
-no DIBS
-any discount?
-when is it going to be completed?

Mutiaraville
-GRR 25 years (7-11%)
-50k for fully furnished
-For CUCMS students
-Every 3 years, 1 month rent is used for refurbishment
-no DIBS
-no discount
First Phase will be completed soon


This post has been edited by tatagal: Jun 16 2012, 09:53 PM
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echoesian
post Jun 16 2012, 11:26 PM


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QUOTE(tatagal @ Jun 16 2012, 09:52 PM)
Anyone knows Arc vs Mutiaraville, which is better?

Arc
-GRR 25 years (8-10%max cap)
-50k for fully furnished
-For MMU students
Every 4 years, 3 month rents are used for refurbishment
-no DIBS
-any discount?
-when is it going to be completed?

Mutiaraville
-GRR 25 years (7-11%)
-50k for fully furnished
-For CUCMS students
-Every 3 years, 1 month rent is used for refurbishment
-no DIBS
-no discount
First Phase will be completed soon


Added on June 16, 2012, 9:53 pmAnyone knows Arc vs Mutiaraville, which is better?

Arc
-GRR 25 years (8-10%max cap)
-50k for fully furnished
-For MMU students
Every 4 years, 3 month rents are used for refurbishment
-no DIBS
-any discount?
-when is it going to be completed?

Mutiaraville
-GRR 25 years (7-11%)
-50k for fully furnished
-For CUCMS students
-Every 3 years, 1 month rent is used for refurbishment
-no DIBS
-no discount
First Phase will be completed soon
*
Where is Mutiaraville? Who is the developer?
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tatagal
post Jun 16 2012, 11:31 PM


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QUOTE(echoesian @ Jun 16 2012, 11:26 PM)
Where is Mutiaraville? Who is the developer?
*
Seri Mutiara Development Sdn. Bhd.

But I am not sure which project is better!
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echoesian
post Jun 16 2012, 11:34 PM


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QUOTE(tatagal @ Jun 16 2012, 11:31 PM)
Seri Mutiara Development Sdn. Bhd.

But I am not sure which project is better!
*
Where is the location?
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tatagal
post Jun 16 2012, 11:51 PM


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QUOTE(echoesian @ Jun 16 2012, 11:34 PM)
Where is the location?
*
Quite near, I suppose!

Maybe you can refer to here:
http://forum.lowyat.net/topic/2136166


psf wise seems to be cheaper I think! But Arch launched it earlier than mutiaraville, that's weird! So far from lyn, it seems that nobody bought mutiaraville
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accetera
post Jun 28 2012, 01:55 AM


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THe Arc still guarantee the return? haha
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NormanPuchong
post Jul 2 2012, 04:28 PM


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Any owners from the previous rental guarantee project from the developer can share with us how or whether developer did honor their promises?
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tatagal
post Jul 11 2012, 05:44 PM


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For those who wish to know the latest progress of this development!


Attached thumbnail(s)
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ah_ken
post Jul 31 2012, 02:40 PM


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QUOTE(davidlow7 @ Jun 16 2012, 07:15 PM)
Last month there was a unit at highest floor available facing East..

There are several units (5-6) facing West.. I believe it should still have as for the West units.

Price still at RM 370k++ with 5% discount DIBS scheme.
*
is it still have few unit left? what is the size?
need to pay 5% for booking + deposit?
now seems like good deal in cyberjaya area. other condo all over 400k.

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tatagal
post Jul 31 2012, 03:17 PM


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QUOTE(ah_ken @ Jul 31 2012, 02:40 PM)
is it still have few unit left? what is the size?
need to pay 5% for booking + deposit?
now seems like good deal in cyberjaya area. other condo all over 400k.
*
I have done some comparison between Arc vs Mutiaraville and vested in the latter. Arc (913sf), Mutiara (1180sf) Both of these two projects are located quite near to each other. I saw somewhere that Mutiaraville got zerodown which is quite good for you, where you are paid to own a unit.
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davidlow7
post Jul 31 2012, 04:08 PM


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QUOTE(ah_ken @ Jul 31 2012, 02:40 PM)
is it still have few unit left? what is the size?
need to pay 5% for booking + deposit?
now seems like good deal in cyberjaya area. other condo all over 400k.
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Not sure

You may contact Terrie - 012 3119915

She is one of the agent that my colleague bought from.
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schin
post Aug 14 2012, 05:16 PM


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QUOTE(tatagal @ Jun 16 2012, 09:52 PM)
Anyone knows Arc vs Mutiaraville, which is better?

Arc
-GRR 25 years (8-10%max cap)
-50k for fully furnished
-For MMU students
Every 4 years, 3 month rents are used for refurbishment
-no DIBS
-any discount?
-when is it going to be completed?

Mutiaraville
-GRR 25 years (7-11%)
-50k for fully furnished
-For CUCMS students
-Every 3 years, 1 month rent is used for refurbishment
-no DIBS
-no discount
First Phase will be completed soon


Added on June 16, 2012, 9:53 pmAnyone knows Arc vs Mutiaraville, which is better?

Arc
-GRR 25 years (8-10%max cap)
-50k for fully furnished
-For MMU students
Every 4 years, 3 month rents are used for refurbishment
-no DIBS
-any discount?
-when is it going to be completed?

Mutiaraville
-GRR 25 years (7-11%)
-50k for fully furnished
-For CUCMS students
-Every 3 years, 1 month rent is used for refurbishment
-no DIBS
-no discount
First Phase will be completed soon
*
50k for fully furnish mean i need to top up by cash or financing in loan? both also need to pay 10% downpayment?? still got unit to choose ar? good for investment?? thanks.
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tatagal
post Aug 16 2012, 10:56 AM


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QUOTE(schin @ Aug 14 2012, 05:16 PM)
50k for fully furnish mean i need to top up by cash or financing in loan? both also need to pay 10% downpayment?? still got unit to choose ar? good for investment?? thanks.
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Nope, the 50k is included as part of the package! It seems that Mutiaraville has zero down package now! If it is real, i personally, is a good deal, you are paid to own a property!

http://dir.groups.yahoo.com/group/theVenic...s/message/15091

Maybe you can drop them a call and update us regarding the feedback here!
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dino10chels
post Aug 16 2012, 11:12 AM


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QUOTE(tatagal @ Aug 16 2012, 10:56 AM)
Nope, the 50k is included as part of the package! It seems that Mutiaraville has zero down package now! If it is real, i personally, is a good deal, you are paid to own a property!

http://dir.groups.yahoo.com/group/theVenic...s/message/15091

Maybe you can drop them a call and update us regarding the feedback here!
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y dont u call n let us know brows.gif
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tatagal
post Aug 16 2012, 10:48 PM


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QUOTE(dino10chels @ Aug 16 2012, 11:12 AM)
y dont u call n let us know  brows.gif
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Coz I already got a unit in the first phase drool.gif , but not this package!
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dino10chels
post Aug 17 2012, 09:38 AM


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QUOTE(tatagal @ Aug 16 2012, 10:48 PM)
Coz I already got a unit in the first phase drool.gif , but not this package!
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rclxms.gif last time u bought at what price?
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tatagal
post Aug 17 2012, 11:21 AM


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QUOTE(dino10chels @ Aug 17 2012, 09:38 AM)
rclxms.gif  last time u bought at what price?
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1180sf, RM388k+RM50k(fully furnished) + No price increment per floor + Same price for corner unit + will be completed in coming months

I heard their new phase is using different market strategy and has price hike per floor!
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dino10chels
post Aug 17 2012, 11:59 AM


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QUOTE(tatagal @ Aug 17 2012, 11:21 AM)
1180sf, RM388k+RM50k(fully furnished) + No price increment per floor + Same price for corner unit + will be completed in coming months

I heard their new phase is using different market strategy and has price hike per floor!
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good deal... rclxms.gif
i think now cant find this kind of package anymore hmm.gif
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tony9119
post Feb 14 2013, 12:11 PM


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http://www.propwall.my/classifieds/824357/...le-by-keith-slw

Is this true? I heard PAN'GAEA by OSK next to The ARC is selling at around RM600 psf.
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WaveW
post Feb 14 2013, 03:37 PM


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QUOTE(tony9119 @ Feb 14 2013, 12:11 PM)
http://www.propwall.my/classifieds/824357/...le-by-keith-slw

Is this true? I heard PAN'GAEA by OSK next to The ARC is selling at around RM600 psf.
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Why not? The Arc basically is meant to be the hostel for students. Don't think condo for hostel will appreciate more than residential condo.
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yewkhuay
post Feb 14 2013, 04:29 PM


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QUOTE(WaveW @ Feb 14 2013, 03:37 PM)
Why not? The Arc basically is meant to be the hostel for students. Don't think condo for hostel will appreciate more than residential condo.
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spot on.

alot of projects in Cyber now is USING the universities as selling points, which limit the potential of the projects to rental investment only.
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tony9119
post Feb 14 2013, 06:05 PM


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QUOTE(yewkhuay @ Feb 14 2013, 04:29 PM)
spot on.

alot of projects in Cyber now is USING the universities as selling points, which limit the potential of the projects to rental investment only.
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For PAN'GAEA, the price is around 600psf, can i say that The ARC worth 500-550psf now? because they are next to each other. Basically, i am looking to invest in one of them.

I am quite new in property, would like to seek some advise. Thanks.
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tony9119
post Feb 14 2013, 06:41 PM


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QUOTE(tony9119 @ Feb 14 2013, 12:11 PM)
http://www.propwall.my/classifieds/824357/...le-by-keith-slw

Is this true? I heard PAN'GAEA by OSK next to The ARC is selling at around RM600 psf.
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From the prowall, The Arc psf is 537, is this reasonable? Thanks
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yewkhuay
post Feb 14 2013, 06:53 PM


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QUOTE(tony9119 @ Feb 14 2013, 06:05 PM)
For PAN'GAEA, the price is around 600psf, can i say that The ARC worth 500-550psf now? because they are next to each other. Basically, i am looking to invest in one of them.

I am quite new in property, would like to seek some advise. Thanks.
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there are many projects tht sell similar concept in the piece of land near by, i suggest u take a look of all ?

i havent done my homework (coz i never plan to invest), but there are frens who ask me about it, i would ask tht what is the student population growth in the universities vs the growth in units supplied in the next 2-3 yrs? would it be over supply?
will be there strong competition from similar projects from current n next phases of launches?

most importantly, will the potential tenants be willing to pay the rental tht will give u the positive cash flow? u can check the current rental in tht area. 1500-1800 for a studio? 2 person share? reasonable?
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WaveW
post Feb 14 2013, 07:16 PM


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QUOTE(tony9119 @ Feb 14 2013, 06:05 PM)
For PAN'GAEA, the price is around 600psf, can i say that The ARC worth 500-550psf now? because they are next to each other. Basically, i am looking to invest in one of them.

I am quite new in property, would like to seek some advise. Thanks.
*
To reply you easily, I put in point form.

1. The 2 condo are totally different product. This is not apple to apple comparison. OSK is much more ambitious on the their product. I will have doubt on the capabilities of OSK to realize the ambition. The Arc is just the normal condo with lease option packaged. Thus I would say the price for The Arc will definitely lower than Pan'gaea. If you say me how much lower, I would ask you to check the price for the medium apartment opposite The Arc. That may be the closer comparison.

2. In fact, The Arc is aimed on the rental game instead of the appreciation. Thus different strategy played. You may be disappointed for the price upon VP.

3. The GRR package is not fair enough to reflect the fair rental rate. The developer will you only 8% of the purchase price and not the market price. Do remember if they pay you RM 2k for the first 4+4 years. You have have fixed monthly RM2k for at least 4 years which you could have lose the time to have higher rental. If you terminate the lease option aft 4 years, you will have difficulty to rent to others but only students. If you want to dispose, who will buy while they are limited to rent to students and suffer from slow appreciation.

If you aim for appreciation, I will advise you to go for other products instead. Too many condo products in cyber jaya range from 300-600 SPF. You may need to study more products further or ask from sifus over here.

My 2 cents.
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661188
post Feb 14 2013, 10:47 PM


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Andaman's GRR project very hard to arrange property viewing when you dispose because need student around and management consent, try call any agent in iproperty & you'll know shakehead.gif

This post has been edited by 661188: Feb 14 2013, 10:48 PM
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tony9119
post Feb 14 2013, 11:02 PM


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QUOTE(661188 @ Feb 14 2013, 10:47 PM)
Andaman's GRR project very hard to arrange property viewing when you dispose because need student around and management consent, try call any agent in iproperty & you'll know  shakehead.gif
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I thought still in construction. how to view?
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661188
post Feb 15 2013, 12:39 AM


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QUOTE(tony9119 @ Feb 14 2013, 11:02 PM)
I thought still in construction. how to view?
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Andaman have few other GRR projects VPed, check out yourselves yawn.gif
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WaveW
post Feb 16 2013, 01:37 AM


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QUOTE(661188 @ Feb 15 2013, 12:39 AM)
Andaman have few other GRR projects VPed, check out yourselves  yawn.gif
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I guess Cova Villa.
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ceveori
post Feb 16 2013, 04:36 AM


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QUOTE(WaveW @ Feb 16 2013, 01:37 AM)
I guess Cova Villa.
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& academia.
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Soros007
post Feb 17 2013, 01:01 AM


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When is the completion date for The Arc???
QUOTE(ceveori @ Feb 16 2013, 04:36 AM)
& academia.
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DrPitchard
post Mar 10 2013, 03:00 PM


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QUOTE(tony9119 @ Feb 14 2013, 12:11 PM)
http://www.propwall.my/classifieds/824357/...le-by-keith-slw

Is this true? I heard PAN'GAEA by OSK next to The ARC is selling at around RM600 psf.
*
Different ball game altogether. Pangaea much more ambitious and high end, on commercial land, with future development for a boutique hotel and also shopping mall. It's much more exclusive and covers a larger area.
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cova
post Mar 12 2013, 01:13 AM


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I have been absent from this forum for some time since I sold my unit in Cova Villa in last year.
My prediction is totally correct, most of the Cova Villa units are now handling back to owners as the students will be moved to Casa Residenza from 16th March. By the end of May, all units will be released to owners. Imagine on that time, there were 340 units of Cova Villa owners desperately fighting for tenants, you can almost predict what could be the senerio.
Speaking to some owners, all are now xxxxxx the developer, but the clause of early termination was clearly stated in their rental agreemnt as I have known during my purchase of the unit.
I have made one good judgement to sell the Cova villa unit, but regret a mistake for not buying an unit in Cova Suites due to the reputation and internet story of Andaman. The Cova Suites have not only enjoying good rental incomes and at the same time the property values have really appreciated. I was right on this prediction too but regreted.

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ceveori
post Mar 12 2013, 01:20 AM


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QUOTE(cova @ Mar 12 2013, 01:13 AM)

» Click to show Spoiler - click again to hide... «
Ya, never trust the 3 + 3 + 3 + 3.... and total 25year GRR BS. Now Andaman buyers @Acadamia, The ARC, & Diamon Residence can see the true face of this developer.
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DrPitchard
post Mar 28 2013, 02:59 PM


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QUOTE(ceveori @ Mar 12 2013, 01:20 AM)
Ya, never trust the 3 + 3 + 3 + 3.... and total 25year GRR BS. Now Andaman buyers @Acadamia, The ARC, & Diamon Residence can see the true face of this developer.
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I guess this totally depends on the market response of the units. Assuming the business is doing well (rental to university/college students), I am sure the developer will continue on with the GRR scheme. Similarly, if the rental is bad, they will terminate it.

That being said, even though the units are now handed back over to owner, most of them should be able to rent out back to students, simply because it will be cheaper than the rate that is offered by the developer.

For example, the GRR is only at RM1.5k+- for the 3 bedroom at Cova Villa. But Andaman is renting it out at RM2.2k. Assuming owner takes it back the unit to rent, they can ask for more than their RM1.5k+ that they have been getting all this while and yet have it easily rented out, so as long its lower than the RM2.2k that students have been charged all this while.

Jz my 6 cents.
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blu3app13
post May 23 2013, 02:34 PM


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i heard that soon there will be symphony park next to the arce. anyone heard of it? smile.gif
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noblebaby
post May 23 2013, 02:40 PM


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Symphony park has been there for ages... many issues with the development....

QUOTE(blu3app13 @ May 23 2013, 02:34 PM)
i heard that soon there will be symphony park next to the arce. anyone heard of it? smile.gif
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DrPitchard
post May 23 2013, 03:49 PM


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QUOTE(blu3app13 @ May 23 2013, 02:34 PM)
i heard that soon there will be symphony park next to the arce. anyone heard of it? smile.gif
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And on the other side of The Arc, we have Pangaea by OSK
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blu3app13
post May 23 2013, 04:10 PM


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As far that i know, The arce has lease agreement with MMU, Mutiara Villa (next to pangaea) has lease agreement with CUCMS. LKW has skypark to be accommodated due to closer distance. It indicates that residential apartments at Pangaea can only target those expatrates or high end workers who works at cyberjaya? I would like to learn more, please kindly share ur thoughts if u dont mind smile.gif
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stephvin
post May 31 2013, 11:28 AM


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any idea how much are those in The Arc?
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happy1234
post Jun 10 2013, 09:35 PM


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Attached File  Full_page_photo.pdf ( 198.46k ) Number of downloads: 160
Current status

This post has been edited by happy1234: Jun 10 2013, 10:23 PM
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xyyap
post Jun 10 2013, 10:20 PM


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BUMP BUMP BUMP!!!

http://forum.lowyat.net/topic/2822509

QUOTE(xyyap @ May 23 2013, 02:06 PM)
Welcome to live @ Cyberjaya!

Looking for all Cyberjaya buyers to bump up this thread. Do share information that u feel comfortable.

Age:
Staying Location:
Working Location:
Profession:
Project:
Purpose:
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cova
post Jun 17 2013, 05:23 PM


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Good luck to you, Andaman's properties buyers
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cova
post Jun 17 2013, 05:28 PM


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Go and see yourself in Cova Villa, kota damansara. Now 300 over units are vacant, cant find tenants and very bad maintenance and condition. All thanks to the GRR and Andaman
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stonkong
post Jun 17 2013, 07:54 PM


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QUOTE(cova @ Jun 17 2013, 06:28 PM)
Go and see yourself in Cova Villa, kota damansara. Now 300 over units are vacant, cant find tenants and very bad maintenance and condition. All thanks to the GRR and Andaman
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BETUL KEH?

MY friend just bought a unit there....

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