There are already units available for rental in propertyguru and iproperty. Plus, previous weekend, there was an event with a lot of cars, which I assume is the handover.

I think it is already VP, but only for block C. They are doing it by stages. At least, from what I've heard.

Just want to share pictures, but incidentally also a listing for the rental unit: https://www.propertyguru.com.my/property-li...im-lim-29480930

Hopefully the lifts moves fast to compensate for the smaller size. But, there's also a service lift, which is located separately and hidden. If I recall, it is also bigger, which helps with moving furnitures.

Visitor parking on the other hand, should not be much of an issue since they made it easy to drop off people. So, in cases where old or less capable people are visiting, could drop them nearby the lift first before parking. And given the choice to optimize parking for residence or visitors, I think the former matters more.

I think some units already VP, at least for block C. If you look at the units for rent, some of them are already furnished or renovated a bit (the kitchen). And I am not talking about the show units pictures.

If I am not mistaken, they are doing VP progressively, more units will get it in the coming months.

Yes they are. But, there are a few rental units which the owner(s) added things like beds, sofa, fridge and fans; which turns them into fully furnished? (not sure if I am using the correct term).

some pictures from google: -> link

The biggest difference so far is the asian garden:

expectation:



reality:

I think Block B has started to handover. Saw some units lighting up.

Also, they are actively building up the drop-off area. I suspect it might be a vertical water feature (or hoping for one, since lost the water fountain to a tree. the tree still looks awesome though). Glad that they are doing something, it was a bit bare bones and exposed to rain.

Yeah, you did mentioned it. That's why I was surprised to see some units already have ceiling lights installed and switched on. Probably some special case.

In the google pics link I shared above has some recent pics of the facilities. The current gym is small, but adequate. Have to wait until block A completes/near-completion for the other facilities to be available (bigger gym, squash, lap pool etc)

I would say, the main facility for now is the water park.

Wonder if the development of block A will pick up the pace after this. Unless, allocation of resources was not the issue, but instead, sales of units.

Their quarterly financial report just came out. You can view it here: http://www.insage.com.my/BursaNews/Attachm...0190528A1-1.pdf

Interesting part for Wangsa9 is this:



Some back of napkin calculation:

Overhang units for Block B and C is around 82 units. This is consistent with the amount of 1000sqft units for both blocks + a couple of the 2000sqft units. As far as I know, 1700 and 1600 units are sold out for these towers. I am also assuming the Penthouses are also sold out.

Take up for Block A is around 20 units. I think it is safe to assume, sales are chugging along a slower than expected. Last year, when I checked, 10 units were already booked. Assuming all bookings translated to sales, it means, between then and now, only about additional 10 units were sold. I am not including the Penthouse which I heard was also already been sold (not verified).

Another interesting bit is focusing on overseas market. There has been marketing materials floating around the web from Japanese and Hong Kong sales agencies. Plus, there were "tourist bus" visiting the location a few months back.

Not sure if overhang stocks from phase 1 are eligible for the HOC. Since, they just came into the market. I suspect, they are not. Other options are programs like rent to own, either in house or partnering with banks. But, none of these options will help build up the capital to build tower A. And since their construction business is also taking a hit, we can expect no subsidization from there as well.

All this might explain their late deliveries. Fingers cross for the next quarter report!

True. But, most of it are attributed to the Construction division (different and much bigger than the Property division, which Mitrajaya homes falls under). It is also mentioned that the order book is almost 1Bil. But, this is not a guarantee of future earnings.

Revenue for Property is somewhat stable, +-10%. What's interesting is the bottom line dropped 40% for this division. Potentially due to discounted selling prices and/or increase in cost.

Cannot elaborate further without deeper analysis. But, their fundamentals are still strong. All they need to do is to weather out the bad economy at the moment. Securing more private and government projects will definitely also help

hehe. I am just a casual observer.

Which block did you visit? Did you get to see the sky lounge on block B? Would be great if you can share some pics

Thank you for sharing

Found this on facebook. They are installing glass louvre (? didn't know this term before) for the entrance. Looks pretty good imho.

Just noticed, if you are using adblocker, you might not see the link above. So weird.

That is very true. But, I don't think that's the reason for their slow sales. I suspect, the population in Wangsa Maju is more price sensitive. The reception for Avila and Henna seems to be quite good. And Sinaran is almost sold out. And not to mention Hamilton which was sold out within hours. My initial thought was, Avila and Henna attracts more investor type rather than home owners. But then, I saw a few agencies managing multiple dozens of units in W9 for investors too [only the ones I know of, how about others?].

And one will also notice that Mitrajaya are not very aggressive with their marketing recently. No more sales booths around the area, unlike the other developers. They don't even have exclusive marketing agencies like Irama Wangsa did with Henry Butcher.

I would be interested to see what will happen in the next 6 months. A few things has changed:

1. They should have completed the handovers. Now probably work on touch-ups. Could focus back on marketing and sales?
2. HOC has been extended, are they eligible for this round? Are they even interested in HOC?

My guess, Tower A will not be rapidly developed until current phase (first 10 floors) are ~60% sold.