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Investment TROPICANA AMAN | BAYAN | CHERIA RESIDENCES, Your dream Township Homes in Canal City
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phonixloo
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 Aug 11 2014, 04:28 PM
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Tropicana, Selangor amend terms of land sale
PETALING JAYA: Tropicana Corporation Bhd and the Selangor state government had entered into a supplementary agreement to amend and incorporate additional terms and conditions with regards to the sale of a piece of land in the vicinity of Kota Kemuning previously known as the Canal City.
Among the salient points of the amendments are that the state will receive accelerated payment amounting to RM173mil instead of RM85mil for a portion of the land that Tropicana had sub-sold to Prominent Stream Sdn Bhd, a subsidiary of Eco World Development Group Bhd.
According to a statement by Tropicana last Friday, the other matter in the amended agreement is that the Menteri Besar Selangor (Pemerbadanan) (MBI) has appointed Permodalan Negeri Selangor Bhd (PNSB) as the agent and project manager to manage its interest subsequent to the new agreement.
The deal between Tropicana and the state can be traced to April 15, 2013 when the property developer’s subsidiary, Sapphire Index Sdn Bhd (SISB), acquired 1,172 acres of leasehold land in what was previously known as Canal City for close to RM1.3bil.
The bulk of the amount is to be paid over 20 years as Tropicana develops the land.
In March this year, the embattled Selangor Mentri Besar Tan Sri Khalid Ibrahim had a change of mind after SISB sold a portion of the land, measuring 308.72 acres to Prominent Stream Sdn Bhd (PSSB) for RM470.7mil cash.
Subsequently, in April, MBI has made fresh offer to Tropicana to pay up-front RM844.3mil, a valuation derived on a net present value basis, compared with RM1.3bil previously.
In the latest development, Tropicana said that the accelerated payment was with regards to the sub-sale of the parcels sold to PSSB on the basis of developable area instead of gross land area.
“The accelerated payment amounts to RM173mil instead of RM85mil. As a result, there will be a waiver in interest for the amount paid,” it said.
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Extracted from The Star, any impact on the launching?
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phonixloo
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Aug 12 2014, 12:01 PM
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QUOTE(accetera @ Aug 12 2014, 11:50 AM) Is a hot topic in the industry insiders. Can't comment for now. We all love the insiders news  lol But now not the right timing to discuss  |
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phonixloo
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Oct 1 2014, 08:06 AM
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QUOTE(PeriPeri2014 @ Sep 7 2014, 12:12 AM) Heard that they delay the project to next year already.... |
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phonixloo
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Oct 2 2014, 05:20 PM
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QUOTE(eastken @ Oct 2 2014, 04:31 PM) I very surprise tropicana dare to sell Metro Park at Batu tiga shah alam, with 800k++ for 900sq++. very daring =.= As long as there are buyer willing to buy. Why not?  |
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phonixloo
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Oct 14 2014, 09:53 AM
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QUOTE(gulstein86 @ Oct 14 2014, 09:43 AM) Unless you have a good relationship with the developer..maybe you can get a unit before launch..my friend got chimes below 500k..my friend work at maybank that handle IJM home loan.. Below 500K? Is that consider under table? |
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phonixloo
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Oct 14 2014, 02:38 PM
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QUOTE(Chris Chew @ Oct 14 2014, 12:32 PM) Wah. Below RM 500k is approx 15% below RM 570k launching price worr. IJM treated their staffs and even associate bankers so good one meh? If got 15% discount....... like durian runtuh. Now easily can sell for 700K..... that mean 40% profit in 2 years. Where to find? |
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phonixloo
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Oct 14 2014, 05:37 PM
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QUOTE(Chris Chew @ Oct 14 2014, 04:52 PM) Now Chimes before VP easily can sell RM 700k with conditions? With phase 4 selling at 780k, after VP in next one or two month time, i believe 700k is easy go |
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phonixloo
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Nov 3 2014, 10:13 AM
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QUOTE(Chris Chew @ Nov 3 2014, 10:07 AM) All the while the dev was indicated tentatively Q1 2015, earliest also Dec 2014 which is unlikely due to shortman power n many on going projects. But ppl keep asking almost every month, is the project delay or so. To launch any new phase also need a good timing mah, rite? I saw that they are putting up new banner inside their Tropicana Aman office.......should not be too long. Gated and Guarded.... open for registration |
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phonixloo
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Dec 15 2014, 07:16 PM
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QUOTE(eastken @ Dec 15 2014, 04:58 PM) Yes, I think in malaysia must use Malay language for project name. But i wonder why Eco World, can keep use EcoSky, EcoMajestic, EcoSanctuary. Maybe Majestic and Sanctuary also in Malay. But Sky panggil Langit!!! Then should rename to EKO LANGIT.... jialat..... ha ha ha |
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phonixloo
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Dec 15 2014, 10:19 PM
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QUOTE(Mrporter888 @ Dec 15 2014, 08:06 PM) So which to choose ? Scarlet or t.aman phase 1 Scarlet = individual title T. Aman = Strata title, G&G If you want to compare, may be Rimbayu Phase 5 which is also Strata title |
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phonixloo
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Dec 16 2014, 09:01 AM
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QUOTE(eastken @ Dec 16 2014, 08:51 AM) Yes, if affordable for monthly commitment, i also prefer G&G. Eco Majestic about RM285 for cluster Semi D size (22*70) if not mistaken. If TA build lesser house with more green with lake, might about around RM350? For more grand, sure you need to pay more for it........ plus next year going to pay for GST as well. So far exemption still no hope yet. |
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phonixloo
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Dec 16 2014, 09:32 AM
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QUOTE(rainman19 @ Dec 16 2014, 09:23 AM) if i not mistaken, GnG maintenance charge based on land side. Correct me if i wrong 22 x 75 = 1650 1650 x 0.17 = 280 |
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phonixloo
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Dec 28 2014, 12:50 PM
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QUOTE(mascot_lim @ Dec 28 2014, 10:39 AM) Peri Peri Gor, now market is different jor....unlike last time BBB mode..... But anyway, usually Tropicana pricing strategy will be very cheap for Phase 1, following phase will be sky high if there are overwhelming responses..... Considered this is a good buy if got sufficient bullets than Tropicana Heights.... If they do launch at 800K for G&G, that will be BBB.....  |
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phonixloo
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Jan 10 2015, 12:01 PM
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mind to pm more information?
This post has been edited by phonixloo: Jan 10 2015, 12:01 PM
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phonixloo
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Jan 11 2015, 02:57 PM
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QUOTE(zzzhhhzzz @ Jan 11 2015, 02:39 PM) Eastken bro.. where did you get this masterplan from ? it seems like the lake is and open area and not amenities inside the GnG. So meaning rimbayu and ES people can go in there too ? I beliebe the ARC in Rimbayu is also open for public yeah Bro. Eastken is the master of this so call Canal City. All info would not slip from his fingers  |
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phonixloo
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Jan 19 2015, 08:14 AM
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QUOTE(zzzhhhzzz @ Jan 19 2015, 07:57 AM) Most of the things in TA is not confirmed yet. But if you go to their sales gallery , the SA might leak some information for you. If you are eager to know more about TA at this stage, going to their sales gallery will be your best bet Yah.... the SA talk a lot of things.... but mostly not confirm / finalize yet. May be they are checking on how Rimbayu do on their Phase 5 launching. It is better for those interested to go and understand more yourself. No point to rely on the third hand unconfirmed info. |
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phonixloo
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Jan 20 2015, 01:04 PM
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QUOTE(Chris Chew @ Jan 20 2015, 12:44 PM) Really? Actually quite hard to definite that normally phase 1 quality is lousier compare to subsequent phase, bcz most developers also trying to use lower spec for early phase to have had lower price compare to subsequent launches. If I am developer, I would try to make Phase 1 quality to be more decent to give a confidence to the purchasers and market, thus subsequet phase would be easier to sell then. If TA price lower than BR - Phase 5 is to be true, and if they use homogenuous tiles for car porch, 2x2 porcelain tiles or quality laminated wood for upper floor, then it is very good buy. Ha... Now is all guessing.... let TA rolls out their final plan and we will be able to decide. |
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phonixloo
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Feb 13 2015, 08:23 AM
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QUOTE(eastken @ Feb 13 2015, 07:13 AM) The price will be 800k-850K. Cannot take the average psf price to calculate like that. Because included some end lot or corner their psf is lower. Hahaha. The low cost I mention is another thing, I meant is low cost apartment will build very near htc should be 6 years later story. Out of low cost apartment, among all the residences phase 1 is the nearer to HTC. But how near me also no idea. Now once mentioned Canal City project, everyone quote info from Easken You would be the main consultant here  |
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phonixloo
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Feb 13 2015, 10:08 AM
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QUOTE(Dragonfly2014 @ Feb 13 2015, 09:55 AM) Even 100m away, still can't avoid seeing it when in out the house...htc much taller right? bo song lor So you pay less for it. Sub sales also same mah. Only difficult to sell a bit This post has been edited by phonixloo: Feb 13 2015, 10:09 AM |
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phonixloo
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Mar 9 2015, 05:39 PM
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QUOTE(eastken @ Mar 9 2015, 08:46 AM) Yeah. Bro. because postponed due to need main resource focus in campaign. Price will appreciate i think just because market will appreciate time by time (even slow). Just like Bandar Rimbayu price also increase time by time even response not hot. This is just because the land per psf just higher and higher, time by time. I remember very begining TA want to launch also indicate price around RM750k-780k. but when delay, sure price will be different. For me price higher due to they had factor in the holding cost already. To ensure they have the same profit margin, they have to increase their price. Unless market is really bad that they had to sacrifice margin for survival. This will be true for company had a tight cash flow, but for TA..... hm..... |
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