Project already VP-ed sometime mid of the year.

Looks like the main profile of owners are investors. Not just owners who buy to rent, but owners who buy just to invest and park their money (with no intention of renting it out in the short term). Saw a lot of Notice regarding outstanding Assessment Tax posted on the main doors of the units, where the owners are foreigners (mostly from China/Hong Kong, based on the name).

Such properties can be hard to maintain to maintain in the long run (as these owners, in general, do not pay for maintenance fees) which in return leads to low demand (due to the poorly maintained building and due to the fact that the building has low occupancy). When the demand is low, then capital appreciation will be tough. Hence, it's a vicious cycle.

Only thing that I remember from this development is the awesome sky sauna with it's big window panel, giving it a breathtaking view of the KL skyline.

Not that foreign owners don't want to rent out their units. more likely many experienced dishonest r.e agents, fed up and decided to give up. some of these units are likely under bank npl.