It is more on their funding. The planning of cashflow for project. They have many projects now. If they are selling its hotel block means they dont have to fork out money to fund the project. With GRR if it works according to plan, they can still make money out of it as recurring income even need to pass you x % amount as GRR. Sunway, Mommoth Empire, Mayland etc also did it. It is more on funding and business strategy and nothing hanky panky.

Yes or No. All answers need to be stipulated clearly in SPA.

On top of the list above, question below need to be answered too.
Strata title for each unit? Some hotels they dont issue strata title.
How many years of GRR?
If the subsidiary company who responsible for GRR ceased to operate, what would be the issue to buyers under the scheme? Especially they pay higher price and furniture cost than the rest for the lock in on GRR for x years.
Water point available to do a small pantry in the unit?
How many stars is expected on this hotel. Stipulated in SPA?
Hotel Operator MoU signed?
Many many more to clarify. More complicated than buying any other properties as many uncertainty involves.

Assumption based on common practice...

If the subsidiary company who responsible for GRR ceased to operate, what would be the issue to buyers under the scheme? The risk in disguise for any GRR scheme

Yes.. So many unclear questions.
Buying hotel is more complicated than just buying a normal residential or commercial.

This is another type of property investment.

A rare one indeed at cheras area.

Normally more to city center.

If ekovest can't answer all this how do they expect buyer just to simply plunge in the money.
This is a high risk investment. Even some back don't like to be EF for hotel.
Better make sure EF is ready and whats the package like..
Wise later only 60% mof of course there are buyer with cash rich.

So many questions mark and no black and white or any marketing kit or website anything. Just launch like this 😱

I think ekovest want to be mall operator and hotel operator .. want to manage these two where they have no experience in doing so is too ambitious. They just know how to build but to manage hotel and mall emmm..
can see now the mall no sign ..quiet..after one year .. who is tenants? bank? starbxk? tgv? gsc? mcd? kfc? uniqlo? all no sound..

if the management of the hotel and mall become bad.. even eko klcc also can die

This post has been edited by mybenz: Mar 11 2015, 01:46 PM

all questions on the hotel sale will b answered this sat..

received eko hotel sms spams everyday
what you guys think? sold out or not?

by the time when all knows... maybe gone already.

restful gor.. you are our ekc captain. what you think?

i m not into GRR investment. reason is ur rental is fixed. it is good for d 1st owner as ekc will probably make sure they pay enough to ngam ngam pay ur mthly mortgage payments. However if u wanna flip to the 2nd buyer and obviously u will be selling at a higher price to d 2nd buyer and hence will attract a higher mortgage payment for the 2nd buyer. The grr will not be able to cover the 2nd buyer's payment. It will get worse for the 3rd buyer. Mortgage repayment goes up and grr amount remains d same. Such investment is only good if u hv spare cash to stash at an investment for long term worry free as the grr should cover ur mortgage payments, but u may hv difficulty flipping the property for capital appreciation. This is my take. Maybe Jagalat-kor can give his perspective as well...

and coupled with d fact that as d hotel room ages, thr will be more wear & tear replacement cost that the subsequent owners hv to bear. Hence cost will spiral upwards in time. So d grr better be increasing as well coz if not it will be difficult 4 u to offload this hotel room to the next buyer.

2nd or 3rd buyer won't buy if the rental doesn't cover or more than the cost of financing. Why would someone buy a investment product if the return is negative?
Hotel is different from house I think because house even the cost of finance is higher than the rental but people will still buy because of capital appreciation and can live in for long term.
As in for hotel, can't be living in long term. Technically hotel is not a house.

and as 1 other writer commented, d grr is as good as d company which promises to pay. Ekocheras will incorporate a new company to make this promise. u got to at least check what is the compay's paid up capital amount. If company bankcrupt for whatever reason, the listed parent company (Ekovest Bhd) is not responsible to continue paying u the GRR.

Yes, u hit the point right at the nail.

The possibility is there... But if it's the case ekovest name will go into the drain.. And most all their project yet still to be launched....i personally think ekovest doesn't want to see this happen.. Otherwise all their future launches and the mall will be affected

Let's put the grr aside because never been said there is grr at this point. What about if without grr?
Self manage as per individual Strata units.. Just like a normal service suites of course only a room.. Can lease it montly like 1.5-1.6k? If this the case it will cannibalize into the single room Soho and apartment market being the lowest entry!
Well that if the hotel come w a pantry to sustain a loong term stay.... If this the case then worth to consider

Below are the questions collected so far (I may miss some).
Feel free to add/edit/answer and refer to it tomorrow.


(A) Hotel Overall
(1)How many stars is expected on this hotel?
(2)Strata title for each unit?
(3)Full furnished? Fully Furnished
(4)Any available water point to do a small pantry in the unit?
(5)What is the price(psf) increased per floor?


(B) GRR package
(1) GRR or not?
(2) If GRR, what is the %?
(3) GRR for how many years?
(4) What is the ROI of 1st year, 2nd year, 3rd year until expiry?
(5) How much is the maintenance fee?
(6) Who pays maintenance fee?
(7) What is the renew package after GRR expired?


© Hotel operator
(1) Who is the operator?
(2) What is the Hotel Operator's paid up capital amount? (just to know its background)
(3) Hotel Operator MoU signed?
(4) Who to pay furniture replacement? Owner?
(5) In case of the Hotel Operator who responsible for GRR ceased to operate, what would be the issue to buyers?


(D) Expenses
(1) When is the next draw down?
(2) What is the GST calculation along the construction period?


(E) SPA
(1) Are all of the above details spelt in SPA?
(2) Else, which one is not spelt?
(3) Free SPA legal fee, etc?
(4) Free loan legal fee, etc?


I have yet decided to attend(still 15/16).
If any daikor/boss can reply with answers tomorrow, the picture will get a whole lot clearer.
Thanks up front.

Thank you for consolidating

One more question on behalf o f Jagalat...maximum can buy how many units

Thanks bro.

Hotel and Office launch news in Nanyang

综合发展拥各类产业 亿国城自成一市
热盘亮点 产业周刊 2015-03-13 12:56

http://www.nanyang.com/node/686894?tid=686

Try to digest this section related to hotel and office, it seems that
1) Office - 21 floors. Each floor has 5 units, ranging from 1100 sft to 2700 sft.
2) Hotel - 260 units ranging from 250 sft to 413 sft. Buyers can opt for bare for furnished.
If buyers do not stay, they can choose to lease the unit back to them
In addition, a range of hotel services such as housekeeping etc, is offered.
But need to pay.
Facilities, eg fitness room, multi-purpose area, conference room, swimming pool is also provided

酒店套房适合年轻人

林景清指出，这栋办公楼共有21层楼高，每层共有5个单位，建筑面积从1100平方尺至2700平方尺；除个别单位，也可整层或多层出售。

他说，酒店套房，也仅有1栋，共260个单位；面积从250平方尺至413平方尺，客户可选择附赠家具或无家具。

“买家若不想自住，也可选择将单位回租给我们。”

他指出，酒店套房以小单位设计，是想让刚踏入社会的年轻一群，购买到属于自己的房屋。

“此外，它提供一系列酒店服务，如家务管理等，需付费。
设施方面，计有健身室、多用途空间、会议室、泳池等。”

This post has been edited by Jagalat: Mar 13 2015, 06:21 PM

Hi anyone going to Q tomorrow ?

Anyone intent to do live update at tomorrow launch day?

For your reading pleasure:

Ekovest to uphold the sustainable development of each project

One example: When they develop the EKC, they visualize what the EKC mall will be in 20 years or 50 years....

http://www.chinapress.com.my/node/605710

JMHO: It is a marketing plan/strategy, since tomorrow is the launching date of hotel and office blocks.
Anyone employee from top to bottom will do what he/she needs to do in promoting EKC. Nothing wrong in that.