http://www.sinchew.com.my/node/1543791/par...%A4%A7%E7%81%AB

Concrete on fire?

wooden material, metal and flammable material..

theazureresidences.com/?gallery=the-azure-residences

Corporate tenants here include DKSH,
Eli Lilly, Bayer Co., Chr.
Hansen, Keyence, McCann
Erickson and Synergy Esco.

Any new names?

How's sales for this project? Is thr any available unit?

Other key takeaways from the meeting with WCT’s management is that WCT will be disposing of Paradigm Mall and BBT Shopping Mall in Klang to a REIT for cash, hence giving up the ownership of the assets entirely and is unlikely to hold any meaningful stake, if at all, in the REIT.

Read more at http://www.thestar.com.my/business/busines...flWUDUM52MWm.99

After 3+ yrs still have units left, bumi release units. Think many dropouts in d earlier stage too. No news on aerius yet? Many many good MNCs based here.

This post has been edited by Babizz: Mar 6 2017, 09:28 AM

i walk in to their sales gallery in shopping mall last weekend, price seems quite high comparing with that area some more leasehold and commercial title. will this be under HDA if their upstairs are hotel? forgot ask the SA

Yes its hda due to service apartment. What was the price quoted n how many % sold?

This project is very low density by commercial title standards with only 190 units and am surprised that sales is slow

didn't ask so much details about their sales status, the SA propose me the smallest size 766sqf with RM960+k, turn down immediate after i know the maintenance fees. Rm0.50 persqf exclude sinking fund!!

I remember if not mistaken this is mostly same rate with a lot of property in KL city center, i probably get better one in KL as more easy to target expat renting.

1.25kpsf and 50cts/sf maintenance....no wonder still got available units despite low density

across the LDP, one can get 700-800psf of a nice freehold unit

But you don't have the convenience of the mall literally on your door step, and you have some pretty good corporate clients at the Ascent to tap into.

not really....opposite The Grand is walkable (150m-200m) to Paradigm Mall using an overhead pedestrian bridge and still can catch corporate clients

There's a 15% discount la. At 1050psf this isn't a bad deal for those high end property investors la.

Low density, pj, link to a good mall, link to office tower with many foreign MNCs, hotel, bus to lrt and klia, great highways like ldp and azure is a luxury property.

Renting out FF should be easy but at 4% yields which is the trend for high end props.

This post has been edited by Babizz: Mar 9 2017, 03:14 PM

200-300psf arbitrage is too wide to ignore if comparing with a nearby property that enjoys most of the benefits you mentioned plus it is a freehold property

Lets compare both grand at 750psf and azure at 1050psf (300psf diference)

Cons for Grand
1. Sofo: to me all hybrid products will always be priced 15-20% lower due to reasons like office hence cant stay legally, subsale gst etc etc
2. Type of prop: grand is mid end at best while azure is luxury type with higher end faci, design and fittings
3. Location: azure can walk to all i mention above without having to go 300m and cross here and there. Paradigm mall n ascent office is at your doorstep. My friend is struggling to rent his condo beside a mall in PJ and tenants say i prefer rent 'there' cos i can just walk down instead of 100m across the road; grand will face the same problem
4. Developer: top 30 vs unknown which will have price diff in the longrun due to workmanship etc etc.

Cons for Azure
1. Leasehold
2. More expensiv
3. Not connected with mrt/lrt (same fr grand)
Do add more if you can

Overall, this part of PJ is an average part with many low end apartments but convenient with LRT, paradigm mall, centre of pj old town, damansara, federal, nkve nearby.

Azure VPs in jun/july this year and there are still 30% units left. If wct doesnt increase rebates, many investors will have to compete with developer upon vp.

The Ascent, a Grade A corporate tower at Paradigm Petaling Jaya is proud to add Olympus Malaysia Sdn. Bhd, Bayer Co (Malaysia) Sdn. Bhd, McCann Erickson (M) Sdn. Bhd, Roche Diagnostics (M) Sdn. Bhd, Hasbro Toy (M) Sdn. Bhd, Green Packet Bhd,Packet Interactive Sdn. Bhd, Medtronic MalaysiaSdn. Bhd, Merck Sharp & Dohme Malaysia Sdn. Bhd, Air Liquide Business Services Sdn. Bhd, A.Menarini Singapore Pte. Ltd and Bandai Namco Studios
Malaysia Sdn. Bhd to its growing list of illustrious tenants. Existing tenants at
The Ascent include DKSH, Eli Lily, WCT Holdings Bhd,CHR Hansen, Keyence and Synergy Esco. This has scaled up the occupancy to 80%.

trust we are discerning investors and the best & fair way to assess an investment objectively is using quantitative value ie rental yield, ROI or COCR bcoz numbers doesn't lie. Using "holier than thou" qualitative assessment will not lead to any acceptable conclusion.

for simple comparison, let's use rental yield (based on rental income nett of mgt fees cos the latter could have material impact to the returns). May i know what is the expected rental for the smallest unit of Azure for calculation and comparison.

My friend's unit at The Grand is getting 5.3% net rental yield (after deducting mgt fees). If Azure can get the similar rental yield, i am sure there won't be still 30% unsold units after few years.

I also would like to offer my factual perspectives to few of the qualitative assessment you have made

1. not all subsale will apply GST if the subsale value is lower than $500k and the seller is not a Business Person

2. you may want to check The Grand occupancy again. My friend's unit at The Grand was rented out to a MNC expat within 1 month from VP. He still receives numerous rental/ subsale enquiries coz there are demand for it and The Grand offers better value than WCT's Azure and Gamuda's High Park.

3. the developer may not as big as WCT but completed the project ahead of schedule with minimal non major defects. I wld say the workmanship was much better than some Top 10 developers. the developer also very generous to provide Signature brand kitchen cabinets and all Panasonic air conds to every unit.

Nice one. Legit and factual. Seasoned investor spotted. ☺️