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.....

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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

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

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 ?

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.

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 .....

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.

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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.....

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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]

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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

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.....

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.

Mine also did not get the payment yet,

One of the Andaman staffs told me personally that must call Andaman management to chase for the payment,
else normally Andaman will pay only after 1-2 months.

It is Andaman management habit !!
haiz......
hope it is not true.

I just called up this noon,
and office told me "hopefully" next week will get the payment.

Sigh...Andaman....
as staff told me before,
if I can get the payment within 2 months from Andaman then considered lucky.

next thursday & friday outstation,
definitely need to find a day to meet their officer else really dun know how next 25 years.

Good !! Agree !!

Yeah...me also received on thursday.
but still dun know how is the figure from.

YES, already deduct m/f, but the figure still not correct.

So, today call up to Andaman office and check,
said need to deduct the fire insurance.

3 months = RM 205.76.
Waiting for their statement.

YES, agree with what you said.

How come my contract only stated max 10% (never said min 8%) ??
Must check with Andaman again....sigh....

Hi, if not mistaken,
this should be the fire insurance.

Today call to office but office said don't know when will release the payment ....



This post has been edited by guchemk: Nov 10 2014, 09:48 PM

oh ? wonder the person pickup the phone dun know anything.
Anyway, already sent mail to them but also no reply.