yeah didn't attend the arc and show house launching...

main contractor is IJM Construction Sdn Bhd. They use a lot of other sub-cons thereafter. Different rows of houses managed by different sub-cons. even M&E works, building works, solar water heater systems, rain water harvesting system all being contracted out.

most likely for the ipad air!

i'm also one of the purchasers there.. but i missed out all their parties and free gifts.. have not even collected the pedometer

knowing IJM, they usually adopt best practice in developing their projects, if the claims are true, it'll be a blow to them since rimbayu is supposed to be a green township. but doubt should be given to IJM because there are a lot of kampungs and other vacant lands in the surrounding area and the kota kemuning folks could have just snapped some of the part that's not rimbayu.

The last i check should be this month, March. not sure if they'll postpone it to 2nd quarter

you can ask for breakdown on the disbursement and get them to clarify how they charge you for the individual items for disbursements.

title search / check is only RM30, printing etc won't be RM500, traveling dispatch etc.

MOT is based on the scale, it's basically stamp duty.

Stamp Duty on Consideration or Adjudicated Value:-

First RM100,000 1%

Next RM400,000 2%

Thereafter 3%

the reason why you need to pay for MOT because individual title for your property has been issued, and it needs to be registered under your name in order for the loan / progress payment to be disbursed to the developer as the construction progresses.

Perennia Selling price:-

Lot No. RA2-023
Type Intermediate
Land Area 1,920sf (24x80)
Built up area 2,459sf
RM746,800

Lot No. RA2-024
Type Corner
Land area 4468sf
Built up area 2,781sf
Price RM1,094,800

Lot No. RA2-031
Type End
Land area 3,443
Built up 2,781
Price RM993,800

if purely looking at extra land of the corner and int, without considering the extra built up of the corner house, there's a difference of RM348,000 for additional 2,548sf of land @ RM137psf.

if compare the int to the end lot, the price difference is RM247,000 for additional 1,523sf of land @ RM162psf (also without considering the extra built up for end lots as well).

Considering that corner lots have larger built up area than the intermediate, the additional value of RM137psf on the extra land is well worth it, if you compare to the same RM162psf on the extra land for the end lot! that's why if you have the budget, always go for corner lots.

in actual fact, the larger extra land it is, the lower RM psf you're going to pay for it, but absolute amount will be much higher.

RA2-030
Type End
Land Area 6,571sf
built up 2,781sf
Price RM1,240,800

difference of RM494,000 for extra 4,651sf of extra land @ RM106psf when comparing it to intermediate (without considering extra built up of the end lot house).


This post has been edited by humms: Mar 14 2014, 12:30 PM

Water cannot flow out then flood how??? lol

this area has always been an area with very huge potential, with these players coming in, it just reinforced my view on this place / corridor (since like 8 years ago).

According to the announcement made on Bursa by EcoWorld, the purchase consideration consists of the following:-

1. RM35 psf over 308.72 acres, consisting of 11 land titles
2. Potential GDV of RM8billion
3. the land area of 308.72 acres is actually net land area basis, excluding of common infra such as proposed roads, drainage, reservoirs, sewerage, culverts, retention basins, electric main distribution
4. No low cost units are to be constructed on the 11 parcels of lands. Any low cost requirement imposed by the relevant authority pursuant to the development of the parcels will be constructed by the Vendor (tropicana)
5. The costs and expenses incurred by the Vendor for the purpose of and in connection with the construction and completion of the Shared Primary Infrastructure undertaken by it and the net cost incurred by the Vendor for the construction of the low cost units shall be borne by the Parties and such proportions shall be computed in accordance with the terms and conditions of the SPA

location of the 11 parcels bought by EcoWorld:-

looks like it's just directly across the main road of Bandar Rimbayu, and next to Perennia! Perennia purchasers look like you guys gonna be neighbours to high-end EcoWorld products..

if you really want to have a detailed look at Tropicana Alam proposed master layout plans, you can go to Planning Department of Majlis Daerah Kuala Langat to view it. It's public info anyway.

i'm no property taikor, but these 3 developers are betting on its location & accessibility. SKVE, ELITE and the upcoming WCE. i've driven from SKVE (starting from Rimbayu) to Puchong is only about 20 minutes, 30 minutes to kajang and about 45 minutes to get to Sg Besi, leisure pace.

for those who work or run about at the southern region, it's a good place to stay.

the person behind ecoworld is taikor ma.. coupled with their recent launches, they're making more headlines than the existing property taikors

in actual fact, building / constructing a high rise development is more challenging / or require more technical expertise than say building a landed development.

it'll be a huge mistake for any developers to just "sell" and let subcon to do it on their own. in any small or large developers, there will be maincon and project managers from the developer side to keep an eye on all works done from start til finish.

if you've ever been in the construction or property development industries, subcons always give headaches to maincon / developers and vice versa. like Rimbayu Chimes, IJM Construction (main con) is using 3 different subcons for the main building works. I personally know the project director in charge of rimbayu, you will hear horror stories pulling all of them together to deliver.

for larger developers, there will be their own teams of planners, architects, qs, project managers, landscape architect etc. from there on, these teams will keep track of the project progress. Some design changes will be carried out during construction because ultimately, the products were drawn on drawing board, and problems of the design only arise during construction and changes will be made. there is no project where the product is 100% the same from the first approved building plans.

what i'm trying to say is that even with maincon and subcon, the developer's side must still have the technical know how (in the form of own teams and department), or else you'll just get the run around from the subcons and won't be able to track their work done.

debt management is only part of the entire picture. there's always the 5% retention sum, and most of the smaller developers are also the contractors doing the construction, so basically left right pockets. these smaller developers to show profit on their construction arms even went to the extent of awarding ridiculous amount of contracts (way much higher) because they don't need to tender. even if they do tender, the tender is only for show. or vice versa, if they want to show profit to the holding company, the "construction arm" will accept a construction award which is ridiculously low and no way they can carry out such works at such contract sum!

to highlight since this is rimbayu thread, main con for Rimbayu is IJM construction, and they're using multiple different unrelated subcons for earthworks, drainage, sewerage, TNB reallignment, M&E works, main building works, all the way down to the rain harvesting system and solar water heating system (2 different contractors). The party who's pulling the string is still IJM Con and IJM land, the developer.

1. IJM doesnt use subcons for debt management. they use different subcons as a form of "competition", see which subcon can do the better work at more efficient pace.
2. IJM is a listed company. any contracts awarded would need to be done based on open tender. even if IJM have their own "subcon" subsidiary, they would need to submit their own tender as well. to show that they're fair, they appoint multiple subcons
3. transparency and to make them liable as third party. it's always about extending liability and risk to a third party in cases like this where so much money is at stake. Any defects during the Defect Liability Period, IJM will ensure the subcons will amend and fix it, because there are still retention sum held by IJM or the "developer" for the next 18 months.

Debt management using subcon is the least concern for developers like IJM, Tropicana, YTL, SP Setia, and i think it will be the same for EcoWorld.

yes the shaded red are EcoWorld parcels

i think tropicana is expecting a synergy with EcoWorld, since they still have 700+ acres left in Canal City. Along with their other smaller townships, Tropicana needs capital and cashflow to fund their existing projects and future land purchase.

all three will try to outdo each other in their subsequent launches.. it'll be a competition, good for the consumers! most likely will be like wait the other to launch, benchmark the design and pricing, then outdo on their next launch, etc vice versa. it'll b fun!