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










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

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.

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 ?

well i check on my system here seems no record shown, but just want to know how well they doing only =) thx anyway

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?

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.

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

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.

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...

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

So actual rental return is only is 6%? If deduct monthly maint fee, the return will reduce further?

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

their first block, more than 90% sold out.

2nd block due to launch next month, with increament of 10k.

i wonder who will rent here?

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.

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

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

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....

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.

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.

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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

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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

98% and above of Block A & B already sold out @ iProperty Expo today. But I heard they are launching Block C & D soon.

“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?

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..

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?

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

I have booked a corner unit also.
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.

for investment,budget rm300k to rm500k

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....

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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

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?

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.

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.

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








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

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.

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.

taufufa, how's ur confirmation about the rental?

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.

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.

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.

Maybank is also one of the official end-financing, but only 2.1 rate. UOB highest is 2.4.

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.

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)
 Option_Agreement.pdf ( 126.91k ) Number of downloads: 679
 Schedule_H_THE_ARC__CYBERJ.PDF ( 180.23k ) Number of downloads: 576

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

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%...

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.

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.

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

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!!!

how is the investment opportunity in cyberjaya?

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....

Dato Vicent Tiew wo.... Dato wo....

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

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

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....

ya, but Senza boleh dapat ke??

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Added on June 28, 2011, 11:58 amHi 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

hows the response for the final block?

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!!!

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.

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

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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!

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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

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.

Good piece of advise.

Make a bank to reject your bank loan, use it as a proof to get back the deposit.
Advise this to all investors.

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?

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.

+ 1

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.

GRR is easy for them to let go their units...

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?

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.

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]

even losing the deposite also let go.... my 2cents.

Make a bank to reject your bank loan, use it as a proof to get back the deposit.

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.

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.

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.

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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

this point is key.. and make the ppl to buy...

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

People actually ask RM40,100 premium for this project??!!! Omg.....

Wow, easy $$$ ..

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.

later on ppl will rather sell it with lose...

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.

i share yr views....

Look at this before investing in student renting GRR scheme.

will the 8% GRR be revised as time passes? at 8% today will not be much 10 yrs from now

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 !!!!!

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.

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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

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

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?

Exactly, the developer has been heavily advertised their project too.
My advise is to strictly avoid Andaman at all!!!

Yes bro.
Get the info from reliable source.

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