On the contrary.... if PSK, PNK and Urbana all in the same place, to me i think that Urbana and PSK will benefit at the expense of PNK
i) Urbana = differentiation pricing market
ii) PSK = cost leadership market
iii) PNK = "stuck-in-the-middle" / "neither-here-nor-there" market (?)

But think PNK still has fighting chance if Citta Mall manages to carve a good niche for itself.... (then it will also be "differentiated" and hopefully can command some pricing)

Appreciate views from all...

Also, somehow i feel that PSK will be "thorn in Urbana's side" rather than the other way round (hence more likely PSK price will trade up rather than fall flat on its face).... Thoughts anyone?

This post has been edited by johnkwchan: Aug 28 2013, 04:48 PM

As announced today on Bursa

http://www.bursamalaysia.com/market/listed...cements/1409381


Details of Ara Damansara Development

On 20 December 2011, LPSB entered into the JVA1 to develop the leasehold land of 99 years (expiring on 4th September 2097) held under title known as Pajakan Negeri, 30313, Lot 64211, Mukim Damansara, Daerah Petaling, Negeri Selangor, measuring a total area of 9,966 square metres (“Ara Damansara Land”) into residential premises (“Ara Damansara Development”).

Further details of the Ara Damansara Development are set out below:

Name of project : Urbana Residences

Description of the property : Pajakan Negeri, 30313, Lot 64211, Mukim Damansara, Daerah Petaling, Negeri Selangor

Land owner : Warisan Suria Network Sdn Bhd

Tenure/expiry date : Leasehold 99 years (expiring on 4th September 2097) (Note 1)

Encumbrances : Charge in favour of United Overseas Bank (Malaysia) Bhd (Note 2)

Approximate area (square metres) : 9,966

Category of land use : Building

Express condition : Commercial

Proposed development project :
One (1) block of serviced apartment tower with a total net saleable area of approximately 30,863 square metres with 1 level of basement car park and four (4) levels of podium car park together with recreational facilities and amenities

Total estimated Gross Development Value (“GDV”) : RM231 million

Total estimated gross development cost : RM185 million

Expected commencement and completion dates :
Barring unforeseen circumstances, the Ara Damansara Development is expected to commence in the fourth (4th) quarter of 2013 and is estimated to be
completed in 2016.

Current stage/ Status of approval for the development:
The approvals for the development and construction have been obtained. The advertising permit for the sale of the completed units has been approved by the
relevant authority.
Note:

(1) An application has been filed with the relevant authorities to extend the leasehold tenure of the Ara Damansara Land to 20 August 2112, being a tenure of 99 years from the date of the application.

(2) Third party legal charge over the Ara Damansara Land granted by WSNSB in favour of United Overseas Bank (Malaysia) Berhad as security for a bridging loan obtained by LPSB for the Ara Damansara Development.

Many talk about buying to rent Urbana and also H2O

Wondering if this is a sound strategy since so many units coming on stream now with many "investors" looking to rent...

At a psf price of rm650-rm750 psf I think likely difficult... Small unit only rental income can expect 2.2k to 2.5k?

Older more "average" condo ie psk got cost advantage for rental market (even pnk rental market already quite slow already)

So really can buy to rent?

Appreciate views from all.

This post has been edited by johnkwchan: Oct 2 2013, 02:27 PM

Bro. This one behind citta mall is nor urbana la