Just so there’s new people to this property, it has halved in value! So you have lost 50+% by buying this POS.

My contact said they are bringing an old folks home operator or dialysis operator to occupy the commercial units 😅. You all want to buy SA with old folks home or dialysis center below ?

Maybe rumor la

Another lelong unit sold yesterday.
5 bidders fight.
1442sqft unit.
From 522884, sold at 605K.

Is higher than last month reserve price.
Good catch?

Looks like the auction market has bottomed and its creeping back up....

Not because of the unit number meh?

Hah, actually thought so too! wonder how much people willing to pay extra just for the nice unit number, in this case 18-08.

Another lelong unit sold yesterday.
Big size unit.

From 639K, sold at 720K.
Good catch?

another confirmation bottom has reached and now moving upwards though still ways to go before breakeven

Don’t think so, this recent bid most likely some gung-ho sorchai just attended or listened to those lelong course

What a pity this development turns out...on paper it looks great....

Haha

many places retail units next to lrt also dieing.
just went to BK5 lrt recently, those retails owns by SP Setia also not doing good..

their famous SP Setia walk also die few times already... wanna get the place ong...must has pork and beers...

those retail under 8 Kinrara are halal one....so dont expect it will ong....if the place ong...sure will attract illegal Makcik Kiah nasi lemak stalls come to open business along the road...the business that rent the shops will affected ...so who want to come to open business?

This post has been edited by bigman: Jul 12 2023, 05:19 PM

Another lelong unit sold last Saturday.
Bumi lot.
1055sqft.
Sold at reserve price 361,300.
Single bidder won unchallenged.

Good catch?

Good catch, only bumi lot can get such value

It’s gone from a premium development to a student/foreign workers’ dormitory which will further erode any chance of regaining capital. The stigma is now stuck and owners either cut loss via Lelong or continue to service this heavy bag. As interest rates rise, can see that it will become almost a 100% Lelong case as the prices are halved. At the 300+ psf mark, it is very cheap for a well built and designed building.

This post has been edited by Cavatzu: Aug 8 2023, 03:43 AM

It's a steal honestly at those prices. I've always admired SDB as a developer but their recent high rise buildings haven't been doing so well lately.. This one the pricing just doesn't fit the location, the commercial components is also suffering as a side effect. Perhaps in 5-10 years when Kwasa develops and population kicks in, this service apartment may finally make sense.

In 10years time...the building will get old and forgotten

What the owners as collective should do is to create a theme for Sqwhere and fund a marketing team for their retail lots. Unfortunately SDP no longer has any interest to drive retail portion.

Haha, yes many bought on the strength of the SDB name. Unfortunately things did not pan out as expected. At current lelong prices, it is very cheap. The best we can hope for is to rent out and hold on until Kwasa and the surroundings develop. At least the place is not difficult to rent out and the rent covers the interest portion of the loan.