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> Da Men @ USJ 1 ( Next to summit ), Discussion of Vesting potential

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TShenryhing
post Apr 22 2011, 10:53 AM

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QUOTE(nakashimakazuma @ Apr 22 2011, 10:32 AM)
wah...why my company's project site suddenly come out in the lynet
hohoho
*
So bro since ur with the company, any inside news?? Got special discount for LYN members?? We LYN member sure ta pau en bloc if price reasonable eg 300-350psft biggrin.gif

Btw forgot to mention, think sunway velocity might be reducing the residential price to 600+ psft.. Capers also sold from 450-650psft. So we are all eager to know Da Men pricing....

This post has been edited by henryhing: Apr 22 2011, 11:02 AM
nakashimakazuma
post Apr 22 2011, 11:03 AM

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i m just contractor there
not the property development side
u guys still have to refer back to equine about this
btw, FYI there will be 1 LRT soon going trough the front of the summit and this new development area
TShenryhing
post Apr 22 2011, 11:08 AM

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QUOTE(nakashimakazuma @ Apr 22 2011, 11:03 AM)
i m just contractor there
not the property development side
u guys still have to refer back to equine about this
btw, FYI there will be 1 LRT soon going trough the front of the summit and this new development area
*
Wah normally contractor ah pek one wor.. Why u so internet savvy one?? Cool.
Btw the LRT everyone know edi wor. U cant build another exit into both side of kesas?? will help reduce congestion alot.. biggrin.gif Anyway just pulling ur legs la. Please update us if u got any info k.. Cheers
nakashimakazuma
post Apr 22 2011, 11:10 AM

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okok
mayb can help to find out what are the sales rate, rent rate
thomstho
post Apr 24 2011, 01:10 AM

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I totally agree with the idea of building another exit to the KESAS expressway to reduce the traffic congestion in USJ 1. This project is so much alike the KL Sentral..... LRT in a high-rise building..... However, I think this will all come in a premium price.


bearbear
post Apr 24 2011, 10:32 AM

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QUOTE(rakyat @ Apr 22 2011, 09:22 AM)
Pricing is abit steep-la. For lower price VPed sub-sale (RM350 to RM450 psf) Le Meridian/ Casa Subang/USJ1 Avenue/ USJ1 Park ect
The main tenant target are Segi college foreign students (big population of Africans) but you will be hard press as there r losta cheaper accomodation from double storey terraces (RM800 to RM1k), walk up apartments (RM700), mid-cost condos (RM1.3k to RM2k)

Let work the numbers : studio RM650 * 710 = RM461k meaning with maintainence breakeven point should be RM2.1k per month
3 bedder 1187 * 550 = RM653k break even RM2.8k.

I think the 3 bedder is doable if the LRT materialize and the shoppintg complex gets a quality anchor tenant (Jusco??)

Good news is that the project will be staggered over 7 years. Hopefully they pull off the commercial - besides Serdang area, what is Equine's track record for mix development?

Cannot compare with e-Tiara/ Empire Soho, USJ 1 is not as condusive so should command lower premium/ yeild
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461k for a studio....wait y not i just buy a double storey house over the street in USJ2?
thomstho
post Apr 24 2011, 10:41 AM

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QUOTE(rakyat @ Apr 22 2011, 10:22 AM)
Pricing is abit steep-la. For lower price VPed sub-sale (RM350 to RM450 psf) Le Meridian/ Casa Subang/USJ1 Avenue/ USJ1 Park ect
The main tenant target are Segi college foreign students (big population of Africans) but you will be hard press as there r losta cheaper accomodation from double storey terraces (RM800 to RM1k), walk up apartments (RM700), mid-cost condos (RM1.3k to RM2k)

Let work the numbers : studio RM650 * 710 = RM461k meaning with maintainence breakeven point should be RM2.1k per month
3 bedder 1187 * 550 = RM653k break even RM2.8k.

I think the 3 bedder is doable if the LRT materialize and the shoppintg complex gets a quality anchor tenant (Jusco??)

Good news is that the project will be staggered over 7 years. Hopefully they pull off the commercial - besides Serdang area, what is Equine's track record for mix development?

Cannot compare with e-Tiara/ Empire Soho, USJ 1 is not as condusive so should command lower premium/ yeild
*
RM550 to RM600 psf is quite reasonable considering its LRT location. Moreover, if they have tenants such as Starbucks, Coffee Bean and etc... it will be even reasonable. There are big chances that notable tenants will come for this development.
kelvin667
post Apr 24 2011, 06:35 PM

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Anyone interested in this, please pm me. I am gathering a bulk purchase to negotiate with them. Who know we can get bulk discount like zest
dlyw1103
post Apr 24 2011, 06:43 PM

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QUOTE(kelvin667 @ Apr 24 2011, 06:35 PM)
Anyone interested in this, please pm me. I am gathering a bulk purchase to negotiate with them. Who know we can get bulk discount like zest
*
boss, count me in
yewfei1128
post Apr 24 2011, 09:04 PM

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count me in
rakyat
post Apr 25 2011, 09:15 AM

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QUOTE(bearbear @ Apr 24 2011, 10:32 AM)
461k for a studio....wait y not i just buy a double storey house over the street in USJ2?
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RM460k you can get a full renovated/ extended 22x75 DSL or a basic corner 20x60 in USJ2; RM650k u can get a 22x75 corner renovated with long driveway (park 4 cars) there is even a 22x75 corner trying to sell at RM520k as it is close to the surau!!!


Ularking
post Apr 25 2011, 09:19 AM

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QUOTE(dlyw1103 @ Apr 24 2011, 06:43 PM)
boss, count me in
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Yeah count me in

This post has been edited by Ularking: Apr 25 2011, 09:27 AM
HaoYuan
post Apr 25 2011, 09:19 AM

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Hey how much is that?
cutealex
post Apr 25 2011, 09:19 AM

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QUOTE(kelvin667 @ Apr 24 2011, 06:35 PM)
Anyone interested in this, please pm me. I am gathering a bulk purchase to negotiate with them. Who know we can get bulk discount like zest
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Count me in... PM details to u
HaoYuan
post Apr 25 2011, 09:21 AM

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i also interested, pm me for more details
rakyat
post Apr 25 2011, 09:21 AM

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QUOTE(thomstho @ Apr 24 2011, 10:41 AM)
RM550 to RM600 psf is quite reasonable considering its LRT location. Moreover, if they have tenants such as Starbucks, Coffee Bean and etc... it will be even reasonable. There are big chances that notable tenants will come for this development.
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Starbucks just closed down in Summit last year, why reopen in the same location? Again, with Badawi no longer a factor, Equine can pull notable tenants?

Casa Subang @ RM300 psf cannot give +ve yield, this one @ RM600 psf can??? Big gamble-la, like that buy Casa or Meridian better bet
cutealex
post Apr 25 2011, 09:39 AM

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This is 40% 60% bet...
kelvin667
post Apr 25 2011, 09:57 AM

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buying serviced apartment with shopping complex is always riskier but return also sweeter. Can someone tell me did Malton bought over Equine? I don' think they have confirm their tenant also.
mrPOTATO
post Apr 25 2011, 10:05 AM

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I'm eying this project as investment, but like rakyat says .. kinda risky at that price. Will bleed me if the estimated price is true.. so it all depends on the selling price.
ronn77
post Apr 25 2011, 10:08 AM

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I never rate that places high due to many businesses which hanging by the thread situations. Even the terrace house at that area is having difficulties to appreciate, thus how can we expect this project which is expecting to be sold at premium to bring posivie return? Look at Summit which the location is better than this one but still the business is seems like almost dying too. For safety sake, there's other better bets than this one.

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