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Investment SUNWAY BELFIELD RESIDENCE KUALA LUMPUR, Sunway gearing up for 2020 New Launch

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Cavatzu
post Jul 26 2022, 09:01 AM

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Does anyone remember where the hackable walls are? I remember seeing some YouTube presentations where there were floor plans with marked hackable walls.

Anyone planning to combine rooms? I’m completely going against the current partitioning meta. Lol.

PS - anyone got notice that building duration is delayed by 150 days? I personally don’t mind. Block B.

This post has been edited by Cavatzu: Jul 26 2022, 05:34 PM
Cavatzu
post Aug 8 2022, 10:04 AM

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Bit of a buzz machine starting about 118. The biggest ad they can do is fireworks there on Hari Merdeka with a Stadium Merdeka backdrop. I predict that will be the backdrop they’ll use going forward for tourism. Tug on the heart strings a bit with jazz (lies) about unity, diversity and equality.

This post has been edited by Cavatzu: Aug 8 2022, 10:09 AM
Cavatzu
post Aug 14 2022, 08:47 PM

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QUOTE(godlikecyx @ Aug 14 2022, 05:58 PM)
does anyone know the actual size/dimension of SB bedroom ?
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The secondary rooms are roughly around 3.3m by 3m. This is me extrapolating by scale from the floor plan. A bit bigger for master of course. They all seem to be fairly consistent in the sense that all of the secondary bedrooms will fit queens and are at least 90 sqft.

QUOTE(LuckyBai @ Aug 14 2022, 06:21 PM)
Thought merdeka 118 is built to house reputable MNC companies setting up regional HQ for ASEAN.

Ended up PNB want its investee companies like Maybank, Sime Darby, MIDF etc to move to the tower ...

Towers that are launching next to the Merdeka 118 are luxury residences ..
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They’re gonna take what they can get and use their clout to get tenants. It’s the old money churning old money. This is the way … in Malaysia. TRX seems to be languishing in this regard to lock in tenants.

This post has been edited by Cavatzu: Aug 14 2022, 08:50 PM
Cavatzu
post Aug 15 2022, 09:47 AM

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QUOTE(DragonReine @ Aug 15 2022, 08:26 AM)
Frankly, it's costs and profit.

The old buildings of their investee companies costs a lot to maintain. Easier to "cut costs" by moving company into a new building and rebuild new buildings on existing sites (or sell them to highest bidder for profits).

Malaysia's policies and fees/taxes etc. are not the cheapest in the region, making it hard to attract MNCs to invest and set up shop here, which makes it harder to find foreign tenants willing to pay rent in Menara 118.

MNC investment talk in this country with current administration is just mostly talk with no action to improve investment from MNCs.
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Aye. Whatever competitive advantage Malaysia had in the 90s has eroded year on year as the rest of the region caught up. You now have neither the skilled manpower nor cost advantages on top of having a small population to be truly attractive. It’s the typical middle income trap exacerbated by dysfunctional politicking.


Cavatzu
post Aug 15 2022, 12:01 PM

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QUOTE(DragonReine @ Aug 15 2022, 10:04 AM)
Yes, indeed. Worse still is that we cannot even boast of quality of human capital or economic connections, given the workforce's generally poor grasp of English, the constant brain drain of our best local talents to other countries that pay better and are more appreciative of their work, the discriminatory policies, poor infrastructure for travel and networking, and political instability.

But we digress 🤣🙏 let's focus a bit more on thread topic.

As far as Belfield goes regarding this development, I doubt the target market is badly affected, and in fact it may be a better thing, as these companies are old and have decent size of workforce that may be attracted by the closeness of the properties.
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You’re right. Prospects for SB are quite bright with such a big name local employer on top of all the opportunities for tourism and commercial activity. And there’s a dedicated own stay cohort motivated by the school catchment or who are just attracted to this old KL downtown address.
Cavatzu
post Aug 15 2022, 06:07 PM

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QUOTE(ultimate93 @ Aug 15 2022, 05:35 PM)
New to property and wish to get my first home, this project is mainly for investment? Cause i saw the bracket behind the title smile.gif haha
I am planning to get it for own stay... ok x?
I scare many airbnb later ??
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It’s got pretty broad appeal and seems to work for both purposes. I wouldn’t rule out the Airbnb factor. It will just depend how much lower you price it against Opus.
Cavatzu
post Aug 17 2022, 03:31 PM

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QUOTE(DragonReine @ Aug 15 2022, 08:58 PM)
IMO Not great for the kind of investment that promotes short term stay (AirBnB):

1) Prices of units are higher than current market rate, especially if you want to buy now, and the area is full of low cost hotels that target cheap travel, at same time Belfield is not so high class or scenic that can target richer traveller bracket.

2) Units trend to larger size that's better suited for long term stay because it's overall higher cost to maintain/higher instalment

3) Sunway branding in general targets fans of sunway branding who like it for own stay/long term investment + means units are also generally more expensive than similar properties.

I think this place is a nice choice for own stay especially if you like urban setting and want to start a family. Just be sure to be active in meetings and vote on anti AirBnB, if that's your inclination smile.gif
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My understanding is that if it’s Commercial title or commercial under HDA then Airbnb can’t be banned outright. It has to be voted down by owners to stop it. Whereas if it’s residential title, then Airbnb is generally disallowed from the start unless it’s voted in. Am I right in my conclusion?

This post has been edited by Cavatzu: Aug 17 2022, 03:31 PM
Cavatzu
post Aug 17 2022, 09:47 PM

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QUOTE(DragonReine @ Aug 17 2022, 06:05 PM)
No, not as simple as that. There are no consistent laws or regulations across the country. It differs depending on local council AND building management.

Example: DBKK (Kota Kinabalu, Sabah) has by-laws that require license to run a lodging house (so privately run Airbnb without license is illegal) + Airbnb must be run on commercial or commercial mixed use land only, as per Hotel and Lodging Houses By-Laws (at least, this was the case in 2017, dunno if they've changed). For DBKL the responsibility is on the building management to decide on whether AirBnB is allowed, which means management can in fact disallow Airbnb or short term stay if they feel like it.
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The JMB of a new development pretty much is a standardised template set by the developer isn’t it? They pretty much decide the shape of things initially?

Cavatzu
post Aug 18 2022, 05:21 PM

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QUOTE(DragonReine @ Aug 18 2022, 03:08 PM)
It really heavily depends on the management style and skill of the developers in the initial part.

JMB is a temporary organisation anyway, meant as a cooperative effort between residents and developer to handle any defects during the Defect Liability Period as well as maintain the building until the Strata titles are issued to the parcel owners and parcel owners functionally claim full ownership of their parcels.

Once JMB is dissolved, resident-managed MC takes over, and MC are free to impose whatever rules they want subject to local laws.
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My point is that sometimes it takes more effort to change something that was already present at the start if they can’t get a quorum on a decision. It would take some time.

This post has been edited by Cavatzu: Aug 18 2022, 05:21 PM
Cavatzu
post Aug 18 2022, 11:21 PM

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QUOTE(Babizz @ Aug 18 2022, 06:44 PM)
90% sold. Not bad at this price point.
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Tower C over 70% taken with their quite high prices. It’ll all be gone with the new few waves of 118 hype.
Cavatzu
post Aug 19 2022, 11:30 AM

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QUOTE(Fantastic11 @ Aug 19 2022, 09:57 AM)
Tower C type C facing 118 net price more than RM900psf already and higher floor mostly sold out, left lower floor units
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Someone shared the price. Around 1k psf for the highest floors.

This post has been edited by Cavatzu: Aug 20 2022, 07:51 AM
Cavatzu
post Aug 21 2022, 06:30 AM

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QUOTE(Jimmy2022 @ Aug 20 2022, 11:51 PM)
user posted image

Expansion of Pusat Bandaraya Kuala Lumpur
under KL City Plan 2021-2040

Kampung Attap will become
a real Heart of the KL city
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Makes sense if KL Sentral was meant to be designated as the main central station of KL.
Cavatzu
post Aug 21 2022, 11:03 AM

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QUOTE(Jimmy2022 @ Aug 21 2022, 09:15 AM)
The huge graveyard will be the most difficult part.
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There will come a time in the future when redeveloping a cemetery becomes commonplace.
Cavatzu
post Aug 21 2022, 09:56 PM

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QUOTE(Jcjh @ Aug 21 2022, 09:30 PM)
Heard that starting from September, price and package will be revised responding to the rising market demand and material cost. Is that true?
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9 times out of 10 when a SA tells you prices are going up, it’s most likely a lie to trigger you into a sale.

Although yes in a way those factors are true and this has been a fairly hot selling project. The price increases have already been set with each subsequent phase launch. This is better than some projects out there where the earliest buyers got screwed *cough Lavile.
Cavatzu
post Aug 22 2022, 06:29 PM

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QUOTE(abcheers @ Aug 22 2022, 05:40 PM)
Not sure there will be another development right beside Belfield. Just glance through Opus as reference seem like still have unsold unit. Will Belfield be a good project for development?  cool2.gif  cool2.gif  cool2.gif
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Pretty sure Opus sold out. Their main problem is that 118 is not completed and they VP just before Covid started as well as being very pricey when launched. They will pick up but like most property launched in 2014/15 they were terribly overpriced at the peak of the market.

The Kampung Attap area is very interesting as it’s actually a very old precinct of KL and was never developed because it was just opposite the Istana. Now it will fly with both new and old elements supporting it.

This post has been edited by Cavatzu: Aug 23 2022, 11:39 AM
Cavatzu
post Aug 25 2022, 03:41 PM

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QUOTE(DragonReine @ Aug 15 2022, 08:58 PM)
IMO Not great for the kind of investment that promotes short term stay (AirBnB):

1) Prices of units are higher than current market rate, especially if you want to buy now, and the area is full of low cost hotels that target cheap travel, at same time Belfield is not so high class or scenic that can target richer traveller bracket.

2) Units trend to larger size that's better suited for long term stay because it's overall higher cost to maintain/higher instalment

3) Sunway branding in general targets fans of sunway branding who like it for own stay/long term investment + means units are also generally more expensive than similar properties.

I think this place is a nice choice for own stay especially if you like urban setting and want to start a family. Just be sure to be active in meetings and vote on anti AirBnB, if that's your inclination smile.gif
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Anyone know what’s going on with the Mirama and Mandarin Court hotels? They were closed since I went to the showroom last year and still seem to be shut down. Are they going to be redeveloped?

Cavatzu
post Aug 26 2022, 12:58 AM

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QUOTE(flautist @ Aug 25 2022, 12:59 PM)
Anyone keen to visit that area this saturday got lots of happening activity...i drive through belfield n saw this building zhongshan, feel so cool, seem like got festival..

www.instagram.com/thezhongshanbuilding
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Quite interesting. I’d love to go but I’m not in the country. It’s part of PNB’s efforts to rejuvenate the area with this arts/music festival. Hopefully this becomes a hub for creatives.
Cavatzu
post Aug 26 2022, 09:45 AM

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QUOTE(Johnson1234 @ Aug 26 2022, 09:40 AM)
Agreed. The condition of monorail station is quite rundown but not sure there will be any upgrading work in place. However, for the temple, it's confirmed, there will be major upgrading. Multi-storey temple with double-deck carpark.
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There’s another overhead bridge before heading to the monorail which exits at the temple which gets you closer to the Chinatown area. It’s in a bit of disrepair but it would be easy to fix it up.

This post has been edited by Cavatzu: Aug 26 2022, 10:02 AM
Cavatzu
post Aug 26 2022, 05:45 PM

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QUOTE(Najibaik @ Aug 26 2022, 05:16 PM)
actually why would ppl honestly think selling at RM800-1k psf is cheap for this project in this location? can i know why?

located at hill of kampung attap which got ntg in doorstep
i encounter many of their client, client agreed it is cheap
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1st phase started from 700+ psf so yea it was generally agreed as cheap particularly as it’s Sunway. Subsequent phases perhaps not so much. But in comparison to the neighbouring units like Opus this was still quite a bit cheaper.

I think it’s quite generally agreed this area should be closer to 1k psf given it’s still the city and the booster effect of 118.
Cavatzu
post Aug 26 2022, 08:13 PM

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QUOTE(Najibaik @ Aug 26 2022, 07:57 PM)
if that way since continew is very close to trx & ikea, so it was selling almost 1k psf
but now it is completed and workmanship is not bad, so can take away developer aspect, since many ppl buy branded developer in hoping for project not abandone and good workmanship

but now it is vped and 1k psf looks like can't sustain in subsale market.

how is it different than belfield? plus surrounding belfield is basically old shoplots
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Not that I’m trying to convince you or anything. Somehow that part of the Eastern side of town bordering Cheras just isn’t as attractive to me (PJ person pov).

The fact that they keep on building stretching into Cheras is dangerous to me from an investment pov as the supply will be so high. The Kampung Attap piece of land is finite and we know who the developers are already.

Would I have bought this at 1k psf? Probably not. But in the 700-900 psf range I felt this was compelling value compared to my alternatives in PJ or MK (I may be wrong in this but too late).

The shop lots on Maharajalela aren’t great I admit. But the arts precinct on the other side of Jalan Belfield is. The gentrification effect of Petaling St has already started there. You got this cruisy, artsy vibe that nods to the heritage of the place. I’m a big fan of that.

It is definitely walkable to 118, less than 1 km. I can walk to Petaling St from the start of the showroom in 15 mins. As you can see, even before I mention 118 I’m actually a fan of the micro location of the site and being close enough to famous food institutions.

This post has been edited by Cavatzu: Aug 26 2022, 08:39 PM

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