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.

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.

And on the other side of The Arc, we have Pangaea by OSK

There will always be a market for new items, especially if it has better facilities and so on.
What I know for certain is, once The Arc gets is CF and is ready for occupation, it will certainly dent and hurt Cyberia Crescent's market. While some will still prefer Cyberia Crescent, there will also be quite a lot that will welcome the change and move over, to something newer. Cyberia Condominium won't be spared.

If I'm not mistaken, the 950sft unit of The Arc will be rented out at RM2k to students. Certainly will be very competitive environment, unless the nearby condos and apartments don't mind playing the price game and drop their price since their entry cost is low.

If the new n old development are being rented out at the same rate, then it should be the owners of the old development that will be sweating their a$$ out. Who would want to stay in an old development when they can stay in a brand new one at the same price? Even if it's just slightly more expensive, a lot people will opt for a new, clean environment than a old, worn out one.

Interesting to see where Nusajaya is today. I think the average price for a studio is easily RM700 psf. Some go as high as RM1k psf!

Hahahaha, it's just nice to reflect a few years back and how people think at that time. Nothing really new with The Arc, except for the fact that it's most probably at least RM500 psf now, as compared to RM350+ 2 years back... :-)

Am an owner for their project The Academia @ South City Plaza. Have been receiving my rental to date, except that it is occasionally late for a month or so.

There is a clause in the S&P that states that if the rental is not paid on time, after a certain time frame, then users can take control back of the unit and the developer at the same time has to pay back the remaining months rental of the agreement period as compensation to the owner. Isn't there a similar clause in the Option Agreement for The Arc?

They have also terminated the GRR for The Academia from July onwards. The Academia slightly better, in the sense that they have been paying all the way up until this year for owners. Under the extension, the GRR is supposed to end in Dec 2018 but notice for termination triggered already.

https://forum.lowyat.net/topic/1733235/+200


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Court rules in favour of owners....which is good news indeed. Anyone from the group of owners that can share more details on the court case? Just to confirm, the law suit is on the non payment of the rental to date and not because of the cancellation of the option agreement, right?

http://m.thesundaily.my/node/501681



This post has been edited by DrPitchard: Nov 11 2017, 08:12 PM

Won for early termination from October 2018....?!?
Meaning....?!?! Claim for rental as compensation till Oct 2018...?