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Investment CONEZION @ IOI RESORT CITY [OWNERS' THREAD], Infused with Lifestyle Excitement

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daijoubu
post Sep 21 2016, 09:47 AM

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I'm curious as to why this property isn't as hot as it should be?
Seems like a great potential, considering IOI went ahead to:

a) Build a mall first, and turn out to be quite a success considering the remoteness of the place
b) Build Conezion first before launching

Seems like a good buy, only issue is high Maintenance Fee sad.gif
daijoubu
post Sep 22 2016, 09:27 AM

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QUOTE(10cent @ Sep 21 2016, 09:58 PM)
Thanks for correction.
Is Block B & C still available
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From what I heard, Block C is out, Block B still have units. Block D also.
I just placed a booking for Block D. Was served by a friend who is an agent, so I am giving him the commission instead of taking up the referral fee offer given here.


QUOTE(nomaikai @ Sep 21 2016, 10:24 PM)
The economy is not good now. All the property companies are having the same problem, unless the companies have a lot of loyal supporters and global based fans. Besides that, the marketing and advertising of the project are not as aggressive as the others. You can only see the banners when you are around the area.

I can see the eco-w and ex eco-w banners all around KL but the properties are in semenyih. Hopefully when everything is up, the  sales will pick up. smile.gif
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That is true, however correct me if i'm wrong but I was told Block C already sold out, Block B already 60-70% taken, and block B haven't launched 20-30% taken already while bout 40% of the units are blocked and will only be allowed to be selected during launch.

It seems that the project is doing well, but not gaining traction here in the forums hmm.gif
daijoubu
post Sep 22 2016, 01:38 PM

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QUOTE(HarpArtist @ Sep 22 2016, 12:40 PM)
ioi has a really good new mall which is not easy in the climate nowadays but conezion is too far away to justify that price premium. imo. one could get small landed props inside putrajaya for the price.
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I've been to the mall several times during weekends and it was quite packed, more than Paradigm in PJ.
The southern part of KV definitely underserved compared to central. And besides that, Phase 2 has already been earmarked to be built due to success of the Phase 1. When Phase 2 is completed, the walking distance from Conezion to Phase 2 is 200m or so.

The only concern I have is the commercial development portion of Conezion. Seems like it would be fighting with the mall.
daijoubu
post Sep 23 2016, 10:34 AM

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QUOTE(HarpArtist @ Sep 23 2016, 10:11 AM)
i come here more than twice a week.  my humble opinion is its relatively quite a distance from the mall or anywhere and looks very uninteresting to attract walk in customers.  ioi better have some great tenants planned rather than mamak and spare part shops or rempit gangs will be moving in...
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If the leasing is managed by IOI mall, then cross your fingers they are smart in managing that. All depends on the profile of businesses coming in I guess.

But that said, once Phase 2 of the mall is up, the distance is cut short.
Clio residences to Phase 2 mall is just 300m
Conezion Block C to Phase 2 mall is just 280m
Measured using Wikimapia

I believe Conezion will appreciate once Clio start releasing their other Blocks
daijoubu
post Sep 24 2016, 12:58 AM

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QUOTE(HarpArtist @ Sep 23 2016, 08:10 PM)
agree but rmb that phase 2 of the mall will be quite some time in the future
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Is supposed to start construction end of this year, and finish in 2-3 years.
At max, completed 1 year after Conezion is ready. By that time Par 3 will be launched, other blocks of Clio will be launched, Conezion should have increased a lot.

Well, time will tell i guess, hopefully turns out OK.

QUOTE(BEANCOUNTER @ Sep 23 2016, 08:39 PM)
Block c 280m....
Furthest away block leh?

Dun forget its seperated by a 6 lanes highway...
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Furthest Block (Block B) to the Phase 2 should be 560m.
Still not bad I think.

6 lanes highway is not an issue.
The good thing about this is anything urgent is available from commercial stores downstairs, while you have the option of going for window shopping / more expensive meal across the road. Best of both worlds.

Mamak / kopitiam downstairs, and fast food / cafes across the road.
daijoubu
post Sep 24 2016, 08:24 PM

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Just went to the site. Definitely no walkway yet, no news on whether it will have. Considering the commercial area at the bottom of Conezion, I think the best idea is to have a feeder bus to IOI Mall, and I wont be surprised they do that. It has a Publika feel, if IOI manages the tenants well and gets a few good anchor tenants, there is a great potential to grow the commercial area into Publika. But likewise if they do not, the risk is that the commercial area will stagnant and then residential area will lose out.

The distance to edge of Phase II (when it completes 3-5 years down the road perhaps) is actually very near. Definitely walkable distance, no different than walking to LRT stations nearby. I am very certain once Phase II is up, is isnt a problem to walk to the mall. There are concerns to evening sun. It will be hot to walk to the mall during evening as you will be waking head on the sun. So a covered walkway or feeder bus should be the solution.

Will post up the latest pin up board for B and C later. Tan Sri Lee was on site just now. Hopefully this place is given lots of attention.

Cheers smile.gif
daijoubu
post Sep 24 2016, 08:25 PM

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QUOTE(BEANCOUNTER @ Sep 24 2016, 03:18 PM)
in Connezion website....ioi claimed that the project is 700mtr to ioi mall.....guess it should be the bestest scenario???
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700m to current mall
Once phase 2 completes, only 250-300m from Block C of Conezion.
daijoubu
post Sep 26 2016, 12:07 AM

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Hi all, below are the photos taken when I was at the sales gallery yesterday. As someone already posted the latest pin up board, I'll skip that.

Showroom photos for B2.
Not everything shown here will be given as it is just semi-furnished.

Attached Image
Model mockup in the IOI Sales Gallery

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Main Room

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Kitchen

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Master Bedroom

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Master bedroom's Toilet

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Bedroom 2

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Construction Site from IOI Gallery looking to Block A & C

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Construction Site looking to Block B & D

Attached Image
Panorama taken from IOI Gallery. On far left just outside the frame is IOI City Mall. The empty space in between that and the bridge is the space for Phase 2 of IOI City Mall. As you can see, it is very near Conezion Block C, just a matter of crossing the bridge.

Attached Image
Block D on the left, Clio Residences on right, bathed in evening sun
daijoubu
post Oct 19 2016, 09:39 AM

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Heard that the VP is brought forward to early 2018?
daijoubu
post Oct 21 2016, 08:58 AM

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Anyone here can advise the breakdown charges by lawyer?
I heard that they charge a lot of fee and I want to re-negotiate cause I am meeting to sign in their premises which is easier for them
daijoubu
post Oct 22 2016, 11:53 PM

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Anyone of you managed to change the parking allocation to somewhere else? I don't really like my current location
daijoubu
post Oct 24 2016, 12:41 PM

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QUOTE(nomaikai @ Oct 24 2016, 09:41 AM)
IOI will change for you if the size is smaller than the designated in the contract or it is too difficult to park when the building is ready. Other than that, I do not think it is easy unless you are good kawan of the staff there. smile.gif
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Yikes, I've gotten a unit that is quite far from the B block's lift, and is closer to the C block's lift instead. Great if I stay in Block C but not for Block B sad.gif.
daijoubu
post Oct 24 2016, 01:15 PM

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QUOTE(nomaikai @ Oct 24 2016, 12:55 PM)
Pay block B price, stay in block C then. Modified from the quote  work in KL, stay in Seremban. tongue.gif
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Eh I was confused =.=

Staying in Block D, but gotten a car park nearer to block C's lift than D sweat.gif.

Not block B tongue.gif
daijoubu
post Nov 9 2016, 09:18 AM

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Based on the pin board posted by 10cent, I've did some calculations:

A: 8.8% take up
B: 67.9% take up
C: 64.0% take up
D: 74.6% take up

Overall considering A: 52.1%
Overall without considering A: 68.5%

As A is very new and just only opened for booking last month but not yet launched officially, we should be looking at 68.5% overall take up.

Cheers!

daijoubu
post Nov 16 2016, 05:56 PM

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Any owners here not satisfied with the parking bay that was selected for you?
Did you manage to change it or were you able to request for specific parking bay you wanted?
daijoubu
post Jan 19 2017, 09:43 AM

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QUOTE(10cent @ Jan 18 2017, 10:26 PM)
Thanks for sharing

Hmm.
means that IOI city not available to any train station.
Too bad
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If this goes to plan, can take Monorail then interchange to MRT2 at UPM station?
daijoubu
post Jan 30 2017, 11:11 PM

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QUOTE(chicargo @ Jan 29 2017, 10:19 PM)
I'm quite glad they delayed it. Since there is a slowdown in retail market, IMO it is better for them to pace the expansion of Phase 2 with the growth/development of the condos and offices around IOI City.
Hopefully by the time Conezion has VPed and more started shifting in and that Phase 1 is stable in terms of occupancy (despite any slowdown), only they develop Phase 2.
daijoubu
post Jan 31 2017, 02:35 PM

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QUOTE(nomaikai @ Jan 31 2017, 11:47 AM)
Agreed that the market has slowed down but IOI should continue his promises to build phase 2 of the mall. Check all the banners and advertisements of Conezion, it is only 700 m away from IOI City Mall. It will not be 700 m if phase 2 is not built. Furthermore, it takes time to build a mega mall. If they wait for the market to recover then only build the mall, it will only be ready a few years later which is too late. Quite disappointed with IOI Properties in delaying this project because it has failed to deliver its promise to all the early investors of CLIO and Conezion! I am one of them. sad.gif

Another bad thing is when all are VPed only they build the mall is the chaotic traffics and noises. Hopefully IOI Properties will finalize when to build the mall as soon as possible.  sad.gif
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If they are building just to fulfill promise but detrimental to the overall growth of the place, then it would be a bad choice to do so.
I do think they should at least explain to investors/buyers. I am more than happy to accept the reason if they have studied and shown that building now will make the overall value of the place worse vs if build later.
Besides that, if they focus on growing the tenants in the commercial area vs trying to fill up both Phase 2 and the commercial area, I rather the focus on the commercial area. The growth of the commercial area will impact the overall appreciation of Conezion rather than Phase 2 actually. Just my 2 cents smile.gif
daijoubu
post Jan 31 2017, 03:59 PM

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QUOTE(nomaikai @ Jan 31 2017, 03:08 PM)
As a premier developer, they should not stop or delay a mega project due to economy downturn, look at the crazy Eco World. I regard IOI Properties as a reputable developer, thus they should act like one, stick to their plan and build what they have promised else it will be downgraded to ordinary developers, only build when the economy is good and stop whenever it is bad. Ordinary or small developers do not have the cash and holding power to build during bad times but a big and giant developer will just go ahead with their plan because construction takes time, a big boy should not wait but plan cautiously so that they can catch the recovery faster than the others.

From the above links shared by others, phase 1 occupancy rate is close to 100%, I would regard it as very good. For the commercial area in Conezion, it is projected to be ready in this year so I do not think it will compete with phase 2 of the mall because the mall will take at least 2 to 3 years to complete if they start now. Anyway, just my 1 sen la. At the end, it is still tan seri's decision. Just not very happy with their PR because they announced that all the funds had been secured to build phase 2 of the mall and the construction should start at the end of 2016, it is 2017 now but there is still no news and sight of construction going on.
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Understood and I respect your concern. I think we can both agree that IOI should at the very least explain for the delay, then we can judge better once we know the reason why. I am merely speculating also.
I also agree that Phase 1's occupancy is very good for a mall at that location, and that should've helped made the decision to start Phase 2 easier, but again, without any proper explanation we'll just speculate and hold them at their earlier promises.

daijoubu
post Mar 14 2017, 11:10 AM

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Yeah it's hard to expect a developer to force an appreciation.

Appreciation is tied to many factors. If the market is weak, forcing an appreciation will deter people from taking up more, and that in turn means less population, and that in turn will attract less businesses to come into Conezion, and then the place may end up another Setiawalk. Then maybe the appreciation will stagnant, and all buyers suffer even more than whatever interest that has been paid.

If the take up is slow, I rather they maintain the prices to draw in the crowd. With a sustainable population more services and retail shops will open and that will drive up appreciation long run.

Then early bird takers only benefit in securing their choice of units, but that is given for being an early bird. If you don't want to be early bird, you just foot the risk of not getting your preferred unit down the road (if in case the property turns out to be hot and is snapped up lo).

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