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Investment ATRIA SOFO SUITES @ DAMANSARA JAYA, by OSK Prop Holdings Bhd

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GlobalKL
post Nov 25 2011, 07:32 AM

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QUOTE(R o Y @ Nov 25 2011, 02:22 AM)
No matter who they manage to bring in, it will still be a suburban mall.

The other projects in Cheras, Sunway, Subang, Kota Damansara and other parts of PJ may or may not be overpriced as well. But that's a different discussion all together. Lets just compare Atria with Mid Valley. Northpoint residences and offices are going for RM700-RM1000psf, similar to Atria SOFO launching price.

So Northpoint has its RM700-RM1000psf price supported by Mid Valley City being the most crowded mall/office area in Malaysia and future developements such as:
1. Setia Eco City
2. Abdullah Hukum LRT will be walking distance after SEC completed
3. Proposed future MRT

Whereas Atria SOFO's RM700-RM1000psf price is supported by:
1. Future Atria

The MRT will not have a significant positive impact on landed property prices in Bandar Utama and TTDI, more likely to have a negative impact actually. Only condos will probably go up driven by higher rentals.

Damansara Uptown is a total different animal compared to the Damansara Jaya commercial area.
- Uptown is just along LDP and Sprint highway, DJ is in the middle of a housing estate
- Uptown has many MNC tenants, DJ's most high profile tenant is probably just Gamuda
- Uptown is just next to BU which has 1Utama and more importantly MSC status, DJ is pretty close by too... but is it close enough?

End of the day I could also be wrong, there is always a probability that OSK will do a superduper job to turn Atria into a mall that rivals Mid Valley.

Potential Investors will just have to decide if they think the probability is high enough for them to put money in or not
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How can this Atria compare with Mid Valley...Atria land is smaller than Mid Valley....

GlobalKL
post Nov 25 2011, 07:44 AM

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QUOTE(Gyokumen_Koushu @ Nov 25 2011, 12:54 AM)
I am from "the investor club".
Do not make profit from buyer.
Profit from developer.

1: Do you buy directly from developer? Which agent serving you?
2: Developer do not give rebate of 10%.
3: For those who did booking, are well aware of the admin fees the developer charging for cancellation.
4. Means you sign booking but you do not know the terms and regulations?
5. IF YOU REALLY BOOK OFFICIALLY FROM DEVELOPER, booking fee fully refundable + admin fee (around 1k)

Bottom-line, 3 possibilities:
a) You book under-table, not from developer.
b) You did not do any bookings at all.
c) You are full time investor who buy property like buy vegetables. No need to review sales performa.

Suggestions:
1) Pay admin fees | Faster 7-14 days get back booking.
2) Look for buyers before SPA signing.
*
finally the truth is reveal...rebate 10%.
kelvin667
post Nov 25 2011, 09:55 AM

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QUOTE(GlobalKL @ Nov 25 2011, 07:30 AM)
accetera kor, a lot of positive points from you. any particular reason?
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There a lot of question need to be answered..

1) they mention gsc and louis vuitton? stated in spa or any black or white? I believe none, word of mouth
2) why not buy a real soho instead of office?
3) why buying at the peak as when market is showing some sign of correction.
4) will there be demand > supply in this mickey house?
5) no car park?
6) who the tenant that can pay $2500 for a 500sf sovo? KDU student? they not even sunway student
7) too many question on the investor club that purchase lower? how are you going to throw lower than them or rent lower than them upon vp?

just my 2 cents...but of course long term all thing tend to go up but is this the best for you? for somebody may be and may not be for someone else
Kl_property88
post Nov 25 2011, 01:18 PM

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QUOTE(GlobalKL @ Nov 25 2011, 07:44 AM)
finally the truth is reveal...rebate 10%.
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Of course, this is what i found out. Where got ppl buy bulk in the early stage and sell for developer without profit?! Charity kah? In that case, sure a lot of developer need them to do more charity in the future. Hahaha!!!!
walle
post Nov 25 2011, 03:56 PM

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QUOTE(carmentee @ Nov 25 2011, 01:27 AM)
property up too fast.. hard to breath
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blush.gif Sideline a bit, Carmen, so wats de update of 260k, near klcc project?
lowyat888
post Nov 25 2011, 03:58 PM

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Funny thing , condo without car park also people want. if car that park further away along the road etc, better dont buy expensive cars bcos theives will be on the look out daily, and steal away the car, even car alarm no use bcos the owner cant hear too far away. thieves will say not to worried take yr time to steal, owner cant hear anything. BECAREFUL OF YR beautiful CAR PARK ALONG THE ROAD daily OR FURTHER AWAY FROM YR PREMISES. INCREASE IN CAR STOLEN LATER or will get SAMAN.

SO NO POINT BUY PROPERTY WITHOUT CAR PARK. EITHER YR WIFE PARK OR U PARK. FIGHTING FOR PARKING EVEN HAVE ONLY 1 CAR PARK.

BETTER GET BICYCLE smile.gif

This post has been edited by lowyat888: Nov 25 2011, 04:00 PM
samngcheesan
post Nov 25 2011, 04:14 PM

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Definitely rent a car park will be No
airline
post Nov 25 2011, 04:19 PM

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Empire damansara also no car park
Robert L
post Nov 25 2011, 04:20 PM

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Atria SOFO topic is really hot recently.... everywhere i heard ppl talking abt it.... i owned 2 dsl house in PJ (1 in Du, 1 in ss23).... i'm so happy to see P.J getting more and more hapening..... hope the price for landed in p.j will increase furhter..... =) cheers....
Gyokumen_Koushu
post Nov 25 2011, 11:47 PM

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QUOTE(Kl_property88 @ Nov 25 2011, 01:18 PM)
Of course, this is what i found out. Where got ppl buy bulk in the early stage and sell for developer without profit?! Charity kah? In that case, sure a lot of developer need them to do more charity in the future. Hahaha!!!!
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Kl_property88
GlobalKL

Up until now, these jokers still totally have no clue on what is going on.
It is rather pathetic, really.

sweety9797
post Nov 25 2011, 11:51 PM

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QUOTE(samngcheesan @ Nov 25 2011, 04:14 PM)
Definitely rent a car park will be No
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Rent car park pun tak ada.......susah wer
accetera
post Nov 25 2011, 11:54 PM

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Metropolitan Sq in Damansara Perdana will be launching their last 2 blocks soon. (their previous launch was Block D which is underconstruction)

I heard it's "suites" again.... :ohno:

This post has been edited by accetera: Nov 25 2011, 11:55 PM
kbandito
post Nov 26 2011, 12:28 PM

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People are buying offices as if it is condo.
Genuinely, who does these SoFo serves? office-occupiers or home-occupiers?
It is priced at RM400k hence rental would need to be RM2,000/m to make investment sense.
Why would I pay RM2,000/m for a unfurnished office units when i can go to any second-grade serviced offices and enjoy full office facilities such as meeting room, conference facilities and etc for RM1,000 or less? Or go to Regus in a genuine office address and pay about the same rental every month? GTower is only charge RM2,000 odd for one workstation, and that kind of heart of KL.

And is there so much demand from small business owners? Is there such a big group of these people to justify the demand for small sized offices suites in the PJ vicinity?

I am in doubt on who will be the genuine occupiers, and investors/ speculators are hoping that these products can fly like studio, when it is genuinely an office.

RM400k I might as well get Tropics Studio which is genuinely for residential purpose.
Phoeni_142
post Nov 26 2011, 01:56 PM

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QUOTE(Robert L @ Nov 25 2011, 04:20 PM)
Atria SOFO topic is really hot recently.... everywhere i heard ppl talking abt it.... i owned 2 dsl house in PJ (1 in Du, 1 in ss23).... i'm so happy to see P.J getting more and more hapening..... hope the price for landed in p.j will increase furhter..... =) cheers....
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support u on that statement kau kau. kekeke. Landed residentials around the old prime PJ areas should enjoy the spillover effects from these SO*O / SO-whatevers. Like the ss23 area v much. Makes a great addition to a property portfolio.

accetera
post Nov 26 2011, 02:18 PM

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my neighbourhood nearby has recorded a record transaction recently...

Kl_property88
post Nov 26 2011, 05:15 PM

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QUOTE(Gyokumen_Koushu @ Nov 25 2011, 11:47 PM)
Kl_property88
GlobalKL

Up until now, these jokers still totally have no clue on what is going on.
It is rather pathetic, really.
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Sorry for being straight forward, i might affect your sales and profit but i just want to tell the truth. Im sorry bro.
ManutdGiggs
post Nov 26 2011, 05:45 PM

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QUOTE(Kl_property88 @ Nov 26 2011, 05:15 PM)
Sorry for being straight forward, i might affect your sales and profit but i just want to tell the truth. Im sorry bro.
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No worries bro, ppl who r goin to gain margin or profit no matter in biz or sales, should b a lil polite. I dun go out telling my potential clients their views or opinions r wrong. In tis case I can c some urgency in DISPOSING off some units. Sori if I hav offended anyone.
GlobalKL
post Nov 27 2011, 10:00 AM

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QUOTE(walle @ Nov 25 2011, 03:56 PM)
blush.gif  Sideline a bit, Carmen, so wats de update of 260k, near klcc project?
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you are still dreaming of this project? biggrin.gif
GlobalKL
post Nov 27 2011, 10:14 AM

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QUOTE(Gyokumen_Koushu @ Nov 25 2011, 11:47 PM)
Kl_property88
GlobalKL

Up until now, these jokers still totally have no clue on what is going on.
It is rather pathetic, really.
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Gyokumen_Koushu/derrick @ 012 9443 953,

who are the jokers here? and what clue do you expect? Who is more pathetic or desperate now?

Let us see what other foumers said about this "practice"...

http://www.myrealestate.com.my/viewtopic.p...=17149&start=50

linustw wrote:
we should all boycott developers that allow name transfer after booking..

it's unethical.....

kevlos wrote:
I agree. Full support.

This inevitably leads to unsustainable pricing and bubble. Please stop before people get burnt.

mymatthew wrote:
some joker is asking for RM50K commission


So who are the real jokers here? I would let the forumers to decide... whistling.gif whistling.gif whistling.gif


The Atria SOFO suites taken up in a day

PETALING JAYA: Property developer OSK Property Holdings Bhd's The Atria in Damansara Jaya is off to a running start. It sold off all of its The Atria SOFO (Small Office Flexible Office) suites on the first day of launch last Friday.

Eager purchasers lined up at the sales gallery on the eve of the launch, hoping to be the first buyers. The Atria SOFO suites are one of the components of the new The Atria project which replaces the old Atria Shopping Centre, one of the oldest shopping centres in Petaling Jaya. Demolition began in August this year.

Buyers have a look at a model of The Atria SOFO during the launch.

Buyers have a look at a model of The Atria SOFO during the launch.
Besides the SOFOs, The Atria integrated development also comprises a shopping gallery with a gross floor area of 600,000 sq ft and a net lettable area of 450,000 sq ft, including an entertainment facility.

The 5.5-acre freehold project has a gross development value (GDV) of close to RM1 billion. Currently, only the SOFO suites are for sale as plans for the shopping gallery are still being finalised. The suites are flexible and can be utilised either as work or living space.

The 392 units of SOFO are housed in two 16-storey towers above the retail floors and have a total GDV of RM200 million. Built-ups range from 488 to 1,343 sq ft. Prices range from RM360,800 to RM1 million or RM720 to RM1,000 per sq ft.

The facilities at The Atria SOFO suites include a lap pool, jacuzzi, gymnasium, sun deck, sauna, meeting room, sky lounge and garden. The basic units are fitted with air-conditioning and heater points. There are 1,959 parking bays.

Emily Cheng, OSK Property senior public relations and communications executive, said at the launch that the developer was confident the units would be fully sold in three days. But the units were 100% taken up by 4.30pm on the first day of launch. The purchasers were a mixture of investors and owner-occupiers.

"Homebuyers and investors are very selective given the global economic conditions. But property developments in good locations are still very hot," she said.

During the launch, purchasers were given an early bird rebate. Construction will begin next month and is expected to be completed in 36 months.





GlobalKL
post Nov 27 2011, 10:16 AM

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QUOTE(Kl_property88 @ Nov 26 2011, 05:15 PM)
Sorry for being straight forward, i might affect your sales and profit but i just want to tell the truth. Im sorry bro.
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why sorry? different people have different opinion. Agreed to disagree. rclxm9.gif rclxm9.gif rclxm9.gif

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