By Ireka
Launching I think at seni mont kiara
From rm2000 per sq feet

This post has been edited by airline: Nov 30 2012, 11:29 PM

And they told me it is cheap!!!! They must be comparing to to Banyan Tree and Pavillion.

Wow, at this price no need to look twice, way beyond what i can afford.

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Added on December 1, 2012, 9:10 amWow, at this price no need to look twice, way beyond what i can afford.

This post has been edited by charlieboy61: Dec 1 2012, 09:10 AM

Smallest size is to be 900 over sqft..

Ireka is a bit too ambitous? You need to be extraordinary n superb usp to fetch this pricing of 2kpsf.

Launching price that HIGH, something fishy is going behind. a gimmick for a group of crony? I doubt target buyers will be those VVVIP and running special type of business. Lembu is old story btw

can buy if they 100sf unit. Haha

Special preview: 03-62530020

2000psf is cheap to the international buyers lah. Such project are never meant for ordinary locals anyway.

Smallest unit 915sq feet

5 percent discount, extra 1 percent discount for I -zen member, with GRR wo

GRR - wats the return and lock in period?

if GRR, then it shld be fully furnished. right?

but 2kpsf is too high to stomach

tiba2 je crony. taksub politik sangat.

ruma


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Actually I also tot expensive, then when research, actually look like good investment, especially the hotel suites:

1. Managed by URC, they manage Puli in Shanghai (http://www.thepuli.com/en/)
2. Give 6% per year for 5 years, then the balance five years projected at about 6.2% - 8%
3. This yield is net becoz they manage everything like hotel
4. So no need find tenant, look for maintenance guy etc, just collect rental, pay monthly!!!
5. If take 70% loan, rent can cover instalment
6. Hotel market also good (http://www.hotels-invest.com/quarterly-market-report.htm) and Mandarin Oriental experience 77.7% growth in capital value over 10
years…and this brand look nicer
7. Downside – you cannot stay in your own unit. You get seven days but any unit
8. Fully Furnished to hotel standard some more!

I actually pick up one unit and managed to get some early bird discount…10 years don’t do anything but collect +ve cashflow lor

The residence look good but frightened about cari tenant…this one BTK..buy to keep at least 10 years!

Are u sure u bought a unit or are u a sales agent?

Anyway paying RM 1,985,550 for a 915 sf unit (RM 2,169 psf) is really high end pricing. Even with a GRR return of RM 9,927 per month for 5 years, it doesnt make it profitable for a investor who would need to pay RM 8,233 per month for a 90% loan at BLR-2.4% when u consider other costs which the owner would need to ebar as well.

Its clear that the developer is already considering future pricing into todays price and making the purchaser pay for it. Typical!

Beware of GRR products. Seriously

Whoa,... So similiar to this news on li ka shing hotel rooms. http://www.bangkokpost.com/breakingnews/33...ty-bubble-fears

"... The government widened its property curbs to cover commercial transactions after earlier this week hundreds of people turned up to buy hotel rooms being sold by billionaire Li Ka-shing’s Cheung Kong (Holdings) Ltd in the city, prompting a warning from the government...."

Hmmmmm....

This post has been edited by satrianeo-x: Mar 14 2013, 07:02 PM

Well, this is what we call future price.
Lady and gentlemen, welcome to the new world of property.

I really keen on this grr
Ireka products so far all okay
Easy entry to hotel product?
Ireka member extra 1 percent discount
1-17 floor hotel
Can fight with traders, mandarin hotel?

This post has been edited by airline: Mar 14 2013, 10:49 PM

She just registered today, and has one post. Your guess as good as mine....

Service residences looking at around RM 2000psf. As for Hotel suites with GRR, selling price approx RM 2800 psf. Let me know if you are interested, i can fulfill you more information.

This u sell also?

Yes. I do.

Hahaha.......no la....i'm not agent, am an analyst ! I registered just to follow this forum on RuMa.

Btw the residence no GRR, only hotel suites ! For me, am too busy with work. GRR works for me especially with good hotel manager




This post has been edited by Roja: Mar 15 2013, 02:47 PM

Thanks for the Li Ka Shings' post

not such thing called guarantee, always ties with T&C

+1 no free lunches. Beware of GRR!

never believe, is just marketing strategies...

What they promised for 5 yrs, 6yrs, 7yrs GRR.. bla bla bla


But you can guarantee they won't terminate your contract or run away... then everything back to square

any brochure to share?

The GRR works as long as the GRR contract is in place. Check your T&C for termination of the GRR. Mind sharing here?

Not bad. Leaseback agreement with subsidiary of developer, who will place RM30M there, with MBB Trustee as the Trustee for the leaseback. The RM30M is for any shortfall from the hotel operations. Payable monthly. Let me try scan some info and upload....

info?

I cant help but register myself to give my piece of take on this...

There is no need for me to specify the good points of hotel unit investments as the fellow forumer has already spelled them out..

Just want potential investors to know something when it comes to financing (not referring to banks whom tie up during launch, even if they do, they offer lower LTV), and some banks avoid such assets. Do u know why?

For hotel suites, they are normally smallish units or units fitted with layouts n cabinetry fit only for short term stay. And the fact that it is tied to a long tenancy, is also its double edged sword. Cos end up the 2 above factors will determine who the buyers are when this product end up in resale market. That means you can only market to investors and not owner occupiers. Which is why banks disfavour them or offer a lower LTV, cos in the event of default n force sale, the property has a limited base of buyers to support.

The other factor is normally such units won't be given the carpark lots, which makes it less favoured by long term occupiers. And the units might run high into fitting out or rewiring costs when time comes for them to convert back to strata residential units when lease end, if there is a provision at all, in the first place.

I am not saying that all hospitality investments are no good. Instead of hotel suites, investors could consider serviced apartments, which have a lease agreement with operators like Fraser, Ascott etc. Cos such units are built in the first place as meant to be residential units, so there is no problems or issues later as mentioned above. There will always be a premium when developers sell you these assests, so be prudent. As long as it is not overly priced, there are still gains to be made. For example, Lot 163 by Kar Sin, if they have known that the end product Fraser Place is so successful .. (80-90% occupancy with yearly 5% increase in rack rates, and eventually more demand is needed and they converted the office units into extra serviced apartments), I dun think they would have sold them at such low price last time. But there is still a active resale market going on for the resale units at abt RM1.5k +-

As for Ruma, what investors fail to see the catch is thats the returns throughout the 10 years are based on the original purchase price, they should adjust the inflated price for the property over the years, cos that is inflation loss.

Just my piece of opinion.

newbie and interested in RuMa.

Mind I ask, what is the bad thing about GRR?

thanks.

Gile mahal!

Beware grr because developer might walkout the deal if the market is not on their side. Just make sure u read the aggreemt thoroughly before finalize it

1. Do u think developer need to shout out to the world that the property is under GRR if the property is already good enough to sell by itself? 2. There is definitely be a clause for them to escape 3. Usually they will appoint another company (much2 smaller one and not their "own"). Anything happens can just cabut 4. Usually developer already factored in the price for this GRR. Hence, price is usually bloated without an actual guatantee due to no.1 to 3.

Not saying all GRR are bad but please do ur own assessment. Nothing is guaranteed in life. Not even ur 9am to 5pm work.

Thanks! Yeah, nothing is guaranteed.

Did you encounter before that the developer walk out of the GRR thing? Mind to share?

Thanks.

Greetings folks,

First of, I am a real estate negotiator working on The Ruma. Secondly, I want to clarify that the opinions below are my 2 cents and is not inclined to favor sales.

Previously I read quite a few articles online talking about scams by developers using GRR schemes. I believed so much in the articles and from then on, I started to get skeptical about GRR marketing schemes like AMINT did.

One fine day during my leisure time, I tried to break down and analyze GRR schemes offered developers and found most of the project being student accommodation, service apartments and hotel suites. I found that not all GRR investment is bad, in fact some landlords made positive cash flow without having to worry about vacancy, paying agents incentive, price war with other landlords, and maintenance of the asset.

Today I would like to share with you what are the things that you need to consider when you are about to money-down on GRR schemes property for investment.

1) Beware of the company that signs GRR contract with you. Read the contract thoroughly. If possible, check the paid up capital of the company, so in case the developer breaches the GRR contract, you could use law to get compensation. (given that the contract you signed has no extraordinary exit clause that benefits the developer only, so READ CAREFULLY again)

2) Know which company is in charge for the management of operations & maintenance. If it is managed by renowned companies E.g Henry Butcher, Frasers, Starwood and etc, you can be assured your asset is in good hands. This will uphold the market value of your property even if it's a lil aged.

3) Know the market rate of the properties around the GRR investment you are considering. Make sure the developer does not over promise on the rental returns, if not after the GRR contract ends you might have a big slash in your rental yield. Undeniable, there are some extra cost factored in your buying price. This is business after all. So make sure the extra cost isn't asking too much to justify its future value.

4) Know what target market the management team is looking at. Students? Expats? Tourist? Students accommodation I personally don't favor. First, in order to generate higher yield, the management might be renting to foreign students that has the infamous image that they almost destroy anything. I'm not trying to be racist here but it's some general perspective on how the public look at them.

5) Figure out what is your target market like after the leaseback period. Who are you going to rent to after the contract ends? What is the expected demand in the area after few years down the road? Is there any future developments in the future that you could possible seek tenants from there? (e.g. corporate towers, shopping malls) Take for example; Cova Villa in Kota Damansara. Their contract with SEGI College has just ended and the place has a slash in rental and now many landlords are desperately looking for tenants.

6) Know what are the future plans of the management after contract ends. Are they interested in renewing the contract? Are they interested in buying back the property?

That's all I could think of now. Hope it could help someone who needed some advice.

On a side note, I'm selling The Ruma There's plenty of explanation that I could not possibly put up here.
Also, I have done my own research. Facts and figures all ready to support your understanding and I personally look highly upon this development. Fyi, The Ruma Hotel Suites is the first 5-star Hotel to be sold publicly in KL City. Interested to find out more, with unbiased opinions, do call me @ 012-3757 057.


Rgds,
Kayden L.

This post has been edited by windstruckk: Jul 9 2013, 03:29 PM

Hi, anyone can advice Ruma residence, good buy? Personally feel that at residence at 5 star hotel should be good...

Being in the same development with a 5-star hotel, the luxury image of the residences will be upheld at all times.

Compared to Face @ Platinum Suites located next to Renaissance Hotel which is selling from 1,657psf, Ruma doesn't seem too expensive to pay for its location and class. It is still in the Tier 1 territory of KLCC.

THE RUMA HOTEL & RESIDENCES KUALA LUMPUR CITY CENTRE
Source: https://www.facebook.com/kldevelopmentconstruction/

A new video of the RuMa project with views of of the site and construction progress: https://youtu.be/SJTdclhSA2Y

I think this will do well. Only problem is the hotel brand not well known but it is a boutique 5 star chain

Shanghai Puli hotel also done by them.
Sibeh top class. Geng!

how is the performance of this project? seems capital appreciation is ZERO

The hotel still exists or sudah bankrupted?

It exists.

Why anyone would buy this compared to more well established hotel brands like Ritz Carlton, 4 season or banyan tree

The location at the end of Jalan Kia Peng is actually quite nice. Nice in the sense that it's relatively quiet (compared to Jalan Pinang, which is always extremely busy with bumper to bumper traffic). Hence, it's close to KLCC (5mins away) and yet, does away with the traffic.

ID is lovely, has a distinct character, which is the traditional Malay architecture.