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Investment 8 CONLAY | KEMPINSKI HOTEL & RESIDENCES, Europe's Oldest All Luxury Hotelier

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Cavatzu
post Aug 24 2022, 07:43 PM

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A RM 5 billion GDV project is humongous by any standard let alone for a first time developer which is privately owned.

The rapid interest rate rises will impact them just like everyone else. And of course the price hikes in construction costs.

This post has been edited by Cavatzu: Aug 24 2022, 07:43 PM
Cavatzu
post Aug 25 2022, 09:29 AM

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Why so much agro on the forums nowadays? All the poor SAs coming out of the woodworks to defend their projects. Wish they had a bit more finesse.
Cavatzu
post Aug 25 2022, 07:38 PM

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QUOTE(icemanfx @ Aug 25 2022, 07:25 PM)
One solution to complete the project is to sell the hotel block. And the developer may incur losses and lost of face, a very bitter pill.

Sg obs, Thai cpb and Thai CG could be interested.
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They may well have to. The main TRX buildings cost about 9 bn and 118 is about 5 bn. These are government agencies to boot. For a private company to take on a 5 bn project as a first timer is madness. They simply won’t have the same tolerance of loss.
Cavatzu
post Aug 26 2022, 11:57 AM

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QUOTE(jolmy @ Aug 26 2022, 11:42 AM)
When you are young (say below 35 or 40), you probably will like a vibrant place close within or close to the city centre or vibrant suburban areas with huge shopping malls & commercial areas.

But once you are beyond the abovementioned age, you probably prefer quiter suburban neighborhoods, but with easy access to nearby commercial areas / shopping malls (e.g. 10 min drive)

well, this is true at least for me, and many people I know
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A group that hasn’t been looked at in much detail are the perennial career singles or single retirees. It will become much more of a norm in years to come. They are appreciating city life a lot more.
Cavatzu
post Aug 26 2022, 03:32 PM

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QUOTE(icemanfx @ Aug 26 2022, 03:15 PM)
How many in number and %?
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Don’t have an answer for you. Gotta refer to demographic studies. It’s anecdotal because those are the circles I hang in.
Cavatzu
post Aug 28 2022, 04:48 PM

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Actually the woes could be with the contractors themselves. Until someone sheds some light on what is going on, we’re all speculating.

Fixed price contracts have come to the fore as being a big issue for many large scale construction projects.

This post has been edited by Cavatzu: Aug 28 2022, 04:52 PM
Cavatzu
post Oct 9 2022, 07:16 AM

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QUOTE(icemanfx @ Oct 9 2022, 02:21 AM)
For the second main contractor to suspend works, the developer is financially stretched. won't be easy to find the third main contractor.
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This really does not bode well. Whatever fancy imported materials and fixtures you have promised are not feasible with the rapidly diminishing RM.

This post has been edited by Cavatzu: Oct 9 2022, 07:56 AM
Cavatzu
post Oct 11 2022, 05:08 AM

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Case study - is 3k psf high rises viable or not? Was it a case of bad timing or completely mismatched product? Or simply poor project management?
Cavatzu
post Oct 15 2022, 07:30 PM

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QUOTE(Nihonmaru @ Oct 15 2022, 04:36 PM)
Parking for new update
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You do know this parking thing is idiotic right?

By the time you actually edit and fill in content you won’t come up on top of the thread and it fails to update anyone on anything unless they specifically go into the thread.

So don’t do moronic things for attention.
Cavatzu
post Oct 16 2022, 05:46 AM

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QUOTE(Medusakia @ Oct 16 2022, 12:46 AM)
Main con pun x bayar. Buyers pun foreigners. Foreigners pun tight finance you think they are able to buy markup price project. Too many stupid people in this world which do not deserve sympathy at all. Developers just wind up and open new company whilst idiot buyer is the one suffering
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Well it’s interesting to note due process if foreign buyers were to walk away from a purchase and simply stop paying anything. It was happening in China and of course there’s limited recourse for a local bank to go after a foreigner and that may have impacted funding.
Cavatzu
post Nov 19 2022, 08:25 AM

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Is this dead or are there any saviours?

First time developers are a big problem. They should start small rather than build super ambitious projects.
Cavatzu
post Nov 28 2022, 01:14 PM

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QUOTE(immobile @ Nov 28 2022, 12:42 PM)
that's true though. first time developers should build rumahwip rm300k. easier rather than high-end projects
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No la they don’t have to go down that low. But this is a 5 bn project almost on par with Mammoth Empire. These are simply too massive.

Can do a small boutique super luxury block also. And phase out the rest of the mixed development. People never learn from Mammoth.
Cavatzu
post Nov 28 2022, 04:52 PM

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QUOTE(icemanfx @ Nov 28 2022, 04:38 PM)
During bull run, everyone is a hero and gold finger. Only after the tide turned, will tell who was swimming naked.
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Don’t forget you get cubit by ketam and stung by jelly fish along the way if a shark doesn’t already get you.
Cavatzu
post Jan 4 2023, 04:53 PM

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Jang jang. The saga continues. Welcome to the exciting world of lawsuits and counter lawsuits.
Cavatzu
post Apr 22 2023, 06:25 AM

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QUOTE(icemanfx @ Apr 20 2023, 04:52 PM)
Like bbb/uuu, the developer was unrealistic, over estimated number of rich in maluhsia and under estimated knowledge of foreign poorperly investors. foreign poorperly investors in this level have higher exposure than wannabe. at this price psf, it is better to buy in sg, hk, dxb, lhr, bkk, etc.
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The MM2H debacle killed off any buyer prospects for foreign investors. The local rich will think twice before buying this.
Cavatzu
post Apr 27 2023, 09:38 AM

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QUOTE(icemanfx @ Apr 22 2023, 11:29 AM)
Be realistic, most if not all foreign poorperly investors who bought in the last 10 years are under water. Knowing their friends lost money, how many would buy?
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It’s one thing to look at the symptoms, but what is the cause?

You have an increasingly uncompetitive economy with an unstable government with flip flop policies as well as racial and religious tensions. The country needs to settle down then there will be more confidence.

For glass half full people, the only way is up. For the bears, we will become Turkey.

This post has been edited by Cavatzu: Apr 27 2023, 09:41 AM
Cavatzu
post Mar 12 2024, 05:18 PM

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Really a terhailat project. They coughed up so much cash for famous designers and branding for something that may never eventuate. All form no substance.

Sorry buyers. But if you could afford this then you really don’t need a lot of sympathy do you?
Cavatzu
post Mar 13 2024, 01:45 PM

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QUOTE(icemanfx @ Mar 13 2024, 12:49 PM)
At this price, locals are likely to buy landed in ampang, Bukit Damansara, etc; foreign buyers would rather buy in Dubai, London, etc. pricing has been unrealistic.
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I reckon they would have gotten a fair few Mainland, HK, SG and Arab buyers. These demographics tend to respond to brands. Locals I don’t think so unless super into collection or it’s hot money.
Cavatzu
post Mar 13 2024, 04:08 PM

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QUOTE(bigman @ Mar 13 2024, 03:03 PM)
KSK land is branded developer? this project will be their first and last project.
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Incorrect. It doesn’t count if it never gets executed. A figment of the imagination perhaps with fictional brochures and buyers who maybe have coughed up a few hundred k at this point. We never learn from history. Empire anyone?
Cavatzu
post Apr 29 2024, 07:22 AM

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QUOTE(Thasmita @ Apr 29 2024, 06:46 AM)
Is this project completing
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How to complete when the developer is wound up? At least that’s the way I’m reading it. Not sure what the latest updates are.
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