IJM started work even before launching in march. future phases will be the same. they'll start piling and foundation works before launching the future phases. spoken to their senior project director, IJM going to make sure this workmanship will be top notch with lots of greens and open spaces..

they bought the land at about RM1.3billion for 1,173 acres, the RM1.3billion consists of:-

1. land purchase RM587million payable over 12 years
2. 5% interest per annum on daily basis compounded to a max of RM252million
3. profit sharing based on 5% of GDV payable via 18 payments on yearly basis and 3% profit after tax payable via 3 payments after the 12-year land payment period, both total payable shall be at a min of RM458million (in other words also deferred payment throughout 18 - 20years depending on sales rate achieving 50%)

if calculate based on RM1.3billion, it will be RM25.40psf. if calculate based on deferred payment taking into consideration time value of money, the net price at today's value will be about RM15.50psf..

so it's about right and i believe PNSB and state government under Pakatan is quite smart compared to the previous one you-know-who.. lol

eh how u know i'm vested in rimbayu???

got an end lot for the 22x75 type.

Just received letter from IJM to pay next 25%... Jeng jeng jeng!