I have direct info on this project. Here are some insights for you guys if you are considering this one:

OC is a freehold, residential title (NOT serviced apartment sitting on a commercial title) development anchored by Ikea, Mytown and MRT.

Their reason for their delay is not so much on the negative side of things (cash flow, revising pricing, etc).

Boustead is a cash-rich company (you can go through their profile on Bursa) and sees no rush in launching to meet target sales. No developer with cash flow issue will proceed to do piling and build first before they even check if they are launch ready.

They also don't see the need to rush launch their project before the others around that area because pricing was already determined early 2017 and they know for a fact OC will be a winner in terms of pricing once they launch (big indication here!). They only intend to revise the pricing for Phase 2.

The delay actually is due to the fact that they have not been involved with strata development for a good number of years already and they are tidying up some regulatory compliance requirement they did not include in their development planning - in other words, an unforeseen hiccup in their planned launch.

I have direct info on this project. Here are some insights for you guys if you are considering this one:

OC is a freehold, residential title (NOT serviced apartment sitting on a commercial title) development anchored by Ikea, Mytown and MRT.

Their reason for their delay is not so much on the negative side of things (cash flow, revising pricing, etc).

Boustead is a cash-rich company (you can go through their profile on Bursa) and sees no rush in launching to meet target sales. No developer with cash flow issue will proceed to do piling and build first before they even check if they are launch ready.

They also don't see the need to rush launch their project before the others around that area because pricing was already determined early 2017 and they know for a fact OC will be a winner in terms of pricing once they launch (big indication here!). They only intend to revise the pricing for Phase 2.

The delay actually is due to the fact that they have not been involved with strata development for a good number of years already and they are tidying up some regulatory compliance requirement they did not include in their development planning - in other words, an unforeseen hiccup in their planned launch.

Looking forward to knowing the winner prices....
Let's see if the response is really winning or waning for fact.

As of the point of this post, I understand that the price is around RM900psqf - below that point for the low levels and slowly going above that point after factoring in premium for higher levels. Based on my knowledge, they don't appear to want to revise it despite the fact that many consultants highlighted the fact that they are selling below what others are selling in that area.

If you ask me, I think its a good deal considering the fact that the price point is anchored by Ikea, MyTown, MRT and it is a freehold residential title.

So just to confirm, do you mean RM900psqf is the winning price as you previously indicated?

As of the point of this post, I understand that the price is around RM900psqf - below that point for the low levels and slowly going above that point after factoring in premium for higher levels. Based on my knowledge, they don't appear to want to revise it despite the fact that many consultants highlighted the fact that they are selling below what others are selling in that area.

If you ask me, I think its a good deal considering the fact that the price point is anchored by Ikea, MyTown, MRT and it is a freehold residential title.

Good deal as in own stay or investment perspective? 🤔

So just to confirm, do you mean RM900psqf is the winning price as you previously indicated?

As of the point of this post, I understand that the price is around RM900psqf - below that point for the low levels and slowly going above that point after factoring in premium for higher levels. Based on my knowledge, they don't appear to want to revise it despite the fact that many consultants highlighted the fact that they are selling below what others are selling in that area.

If you ask me, I think its a good deal considering the fact that the price point is anchored by Ikea, MyTown, MRT and it is a freehold residential title.

PETALING JAYA: Boustead Holdings Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

’s subsidiary, Mutiara Rini Sdn Bhd, will acquire a prime land worth RM143.5mil in Kuala Lumpur from Lembaga Tabung Angkatan Tentera (LTAT).

In a filing with Bursa Malaysia, the company said the proposed acquisition is aimed at expanding Boustead’s land bank and investing in strategic property projects in the capital.

According to Boustead, the 6.59-acre land in Jalan Cochrane will be acquired at a discount of 0.35% or RM500,000 to its market value. The purchase is expected to be fully funded by the proceeds from the group’s rights issue exercise, which was completed in June 2016.

In a separate statement, Boustead deputy chairman and group managing director Tan Sri Lodin Wok Kamaruddin said the land purchase would benefit the group’s property division, moving forward.


He said Boustead’s strong track record in the property development sector would enable it to leverage on this potential.

“Indeed, the group’s property division has successfully completed existing projects within the same vicinity, including the MyTOWN Shopping Centre and the soon-to-be-launched One Cochrane Residences.

“We are confident that the acquisition of this land will enable us to further accelerate our growth strategy for the division in the long run,” he said.

The freehold land has been earmarked for a high-rise residential project, with an expected gross development value of RM1.15bil. The project is expected to be launched in 2019 and completed within the next three years.
Boustead is likely to fund the development through a combination of bank borrowings and internally generated funds.

The land acquisition, which is conditional upon the approval of the relevant state authority, will not have any material effect on Boustead’s earnings for the financial year ending Dec 31, 2017.

However, upon completion of the proposed development, the potential profit contribution is expected to enhance Boustead’s future earnings.


Read more at https://www.thestar.com.my/business/busines...LvbfYIwyW6Sx.99

Boustead to buy LTAT land for RM143.5mil
Read more at https://www.thestar.com.my/business/busines...LvbfYIwyW6Sx.99
Is this article refer to Cochrane project?

950psf worth to buy it ?
926sf
Total 448 units

950psf worth to buy it ?
926sf
Total 448 units

yes somemore its nearer to mrt