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

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Cavatzu
post Dec 9 2021, 09:23 AM

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QUOTE(Snacky1100 @ Dec 7 2021, 11:44 AM)
A little digress here - I was privileged to be meet and chat with Ahmad Zulqarnain Onn, the new PNB CEO in London a few years ago. He was deputy MD in khazannah. I have heard so many good things about him from my ex-khazanah friends- Harvard educated, likeable, humble, and competent. He was also the only director-level officer who has the lowest claims and always asked for downgrades from business to economy in his business flights. Such a gem leader in Malaysia.

Hope PNB 118 will do well under his leadership and the Belfield project!
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I do like the whole heritage and cultural angle they’re adopting. It’s sorely lacking in KL and if you look at KLCC it’s a bit soulless and merely a concrete jungle. Nice yes but really lacks character.

So I dare venture that the entire Pudu precinct will become very tourist friendly if they inject enough capital to clean up the dodginess.

Cavatzu
post Dec 21 2021, 09:36 AM

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QUOTE(agoodlistener @ Dec 20 2021, 11:03 PM)
Construction material price went up, you think the developer will raise the price? Or already raised?
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They’ve already released Tower C starting from 680k so there has been a ~5% price increase.

I think a developer need only sell something like 50% to break even which I believe they pretty much have.

Developers can always cost engineer if they don’t meet their profit goals but the good thing is a developer like Sunway care too much about reputation to cut corners too much. Worst case scenario is you get more basic looking presentation.
Cavatzu
post Dec 22 2021, 08:03 AM

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QUOTE(agoodlistener @ Dec 22 2021, 05:34 AM)
I see. But getting a more basic looking presentation is a form of cutting corner right?

Not to say 6 pillar they give 4 la, that will affect structure I think  Sunway which is notorious for build quality won’t do that.

But if 6 big trees become 6 small trees, or premium marble finish become normal tiles. Well, that’s getting a more basic presentation right? Doesn’t sound nice also.
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You’re overthinking this.They didn’t sell this project as a luxurious one nor promised that. So it’s open to interpretation what is “affordable luxury”. This is a profitable development for them due to the density of units and how well it’s sold so quickly.

There’s a hundred ways to cut cost from gym equipment to toilets to plants. The facility deck is usually the main target of cost cutting.

More importantly they can deliver a safe product with everything that they promised. This is where their reputation and consistency are noted.
Cavatzu
post Dec 23 2021, 09:46 AM

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https://www.theedgemarkets.com/article/sunw...u-2021-campaign

Well here they go, increasing their sales targets because they smashed it earlier and recording half a billion worth of sales in 2 months. Staff wil be getting good bonuses this year.
Cavatzu
post Dec 23 2021, 04:23 PM

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QUOTE(agoodlistener @ Dec 23 2021, 03:58 AM)
I raised this issue bcoz I have inside news from ppl in the construction material supply chain. The cost rise this time is no joke, it eats into developer’s profit margin considerably.

Last time sell 10$ they still can make 4-5$. Now material price went up ~15%, sell same price profit become 2.5 to 3.5$, which translate to big profit loss, not to mention overhang units.

This kind of time, as a consumer I’d rather bite the “inflated price” bullet than getting a cheap deal. They say one cent price, one cent quality, this is true for any business ran by any businessman.

And you’re assuming Sunway brand = 100% no leaking flooding etc. Not entirely one, this boils down to subcon quality, material quality as well. From M developer to Bina, quality developer delivering subpar stuff is not unheard of.

But yes, objectively speaking, Sunway so far quite reliable, for sure.
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Wow do developers here make 50-100% profit? That’s freaking lucrative. I’m used to hearing of maybe a 30% margin.

Cavatzu
post Dec 25 2021, 12:17 PM

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QUOTE(agoodlistener @ Dec 24 2021, 04:59 PM)
Wow, I dont get your reasoning. Who says 50-100%? Lol

But takeaway is material cost up, selling same price, profit for developer down, developer need to adjust sini sana to protect their margin.

Then again, for fairness sake, this is applicable to all developers, not just developer for this thread.
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I was just picking up on the napkin math where if it cost $5 to build and they sold for $10. Granted there are other overheads too.

Merry Christmas all!
Cavatzu
post Dec 30 2021, 11:33 AM

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Floor plans and virtual tours for Tower C up on website.

Looks like they took away islands for D and F. Are they outfitting wet kitchen instead?

This post has been edited by Cavatzu: Dec 30 2021, 11:43 AM
Cavatzu
post Jan 7 2022, 03:21 PM

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Cavatzu
post Jan 8 2022, 12:03 AM

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Get ready for 1000 units for rent 😂
Cavatzu
post Jan 8 2022, 02:03 PM

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I think 118 is potentially it’s own centre of gravity so there’s that. This place can also compete with KL Sentral if cheap enough.
Cavatzu
post Jan 9 2022, 11:23 AM

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QUOTE(Babizz @ Jan 9 2022, 11:07 AM)
KL sentral got top Chinese school beside?

Belfield got how many trains within close walking distance? How many trains can walk covered?
Belfield got many MNC and GLC within walking distance?
Belfield got how many hotels?
Belfield got malls within close walking distance?

Other than school KL sentral win 10000%. This same argument happened in opus thread of 118 vs KLCC. Look at where opus is now.
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I meant “IF it’s cheap enough”. Not saying it’s a like for like comparison.

Similar to psf, if rental prices are 20-30% lower than Sentral then maybe u get some bites given it’s only a few km away and the area has its own character.

Cavatzu
post Jan 9 2022, 03:36 PM

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QUOTE(Babizz @ Jan 9 2022, 11:31 AM)
At 20-30% cheaper what can SB offer?
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Geez dude. I’m pretty spot on with my language as is. Do I have to write up a dissertation on my opinions? Not saying anything is a sure thing and we’re all making informed guesses based on available information.

All I meant is that people who would have wanted to rent in Sentral MIGHT consider SB as a cheaper alternative due to the relative proximity.

This post has been edited by Cavatzu: Jan 9 2022, 07:00 PM
Cavatzu
post Jan 11 2022, 03:02 PM

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user posted image

Hmm this seems to be a third party ad for SB. Has the price come down or typical agent click bait?

This post has been edited by Cavatzu: Jan 11 2022, 03:03 PM
Cavatzu
post Jan 16 2022, 06:02 PM

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QUOTE(Fantastic11 @ Jan 15 2022, 10:41 PM)
Just curious the 'future' management office located at block B Level 8A, which means tower C residence can access to tower A & B facilities floor? Like this not fair lehhh.....
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You have a point but perhaps check with SA. They are paying highest psf after all.
Cavatzu
post Jan 25 2022, 11:07 AM

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user posted image

Really over 90% sold. It’ll likely slow down a lot for Tower C without HOC and that new Pudu project. But this tower can be marketed to foreigners quite easily.
Cavatzu
post Jan 29 2022, 10:10 AM

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QUOTE(Najibaik @ Jan 28 2022, 02:56 PM)
hi may i know where do you get this from?
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https://idaman.kpkt.gov.my/idv5xe/98_eHome/...nway%20Belfield

Publicly available sales information and the data is a few months old.

Just noticed the Bumi translation is Earth 😂

This post has been edited by Cavatzu: Jan 29 2022, 10:25 AM
Cavatzu
post Feb 6 2022, 05:35 PM

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Went to look at the new showroom layout of Tower C and yea it’s very spacious - 1173 sqft for 3 bed/3 bath no balcony, good size wet kitchen/yard.

Only real perk they’re offering now is choice of kitchen cabinet colour. SA said tower C is 40% sold or booked rather. Prices are up 10% on average so you’re looking at 770+ psf for not PNB views and around 870+ psf for PNB ones. Maintenance is still 29c psf.

user posted image
Cavatzu
post Feb 9 2022, 10:12 PM

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QUOTE(Cavatzu @ Jan 29 2022, 10:10 AM)
https://idaman.kpkt.gov.my/idv5xe/98_eHome/...nway%20Belfield

Publicly available sales information and the data is a few months old.

Just noticed the Bumi translation is Earth 😂
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It’s managed by KPKT which is a government body. It’s just a database of transactions for approved developments. You need to know the code to track sales for a particular development. Most of the time it’ll crop up somewhere in the forum but you’ll have to search for it.
Cavatzu
post Feb 11 2022, 09:40 AM

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QUOTE(Nutbeater69 @ Feb 11 2022, 02:11 AM)
All unit sold out liao?

Thinking to get 1 for investment
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Just go the showroom or contact their reps. Pretty sure there’s still a few leftover units in the first 2 blocks and you got around half the next tower at least. Their sales figures are no joke for a launch during a pandemic and it’s verifiable.
Cavatzu
post Feb 23 2022, 09:18 AM

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I remember a SA comment that a high rise development was unprobable for Salcon due to decaying lease terms. This seems to prove it. Would you buy a new property with a 60+ year lease term? Fingers and toes crossed for those who paid a premium for KL views.

This post has been edited by Cavatzu: Feb 23 2022, 09:20 AM

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