For EKC, we have approximately 1500 residential units. Assuming that on average we have 2 people living in each unit, that's a population of 3000 people within EKC development alone. I would expect the retail stores, f&b, cinema etc. to be self-sustainable even without any external visitors.

This post has been edited by ekorjiulai: Aug 8 2015, 05:20 PM

I'm based in London and the name sounded familiar, googled it and indeed, its headquarter is in London. Seems like a fairly big global real estate firm, listed on FTSE250 stock exchange.

Things are looking fairly promising by the look of things but keep up with the updates. Appreciate the input from all of you guys.

Did some research and it seems that they manage a wide range of retail management from low to high end malls. They currently manage:

113 shopping malls
636 retail parks (i.e. street shopping concept)
87 leisure schemes

UK shopping scene is somewhat different whereby it is mostly street based shopping rather than indoors (ie shopping malls). However, I did manage to find 2 example shopping centres that they have been appointed as the management:

Princesshay shopping centre (anchor: john lewis, debenhams, next)
Fort shopping centre (anchor: Marks & Spencer)

John Lewis is an upper end department store (similar to Robinsons in The Gardens). Debenhams is a bit like aeon/metrojaya. M&S is somewhat in between. Next is a retail outlet which sells clothes etc. and is slightly higher than H&M.

Based on these findings, I would suspect that they tend to manage malls around Midvalley standards. But then again, it depends on the demographic as well and mall size. That said, they have also been appointed to advise (but not manage directly) Westfield London (ie. probably one of the biggest shopping malls in London and arguably Europe) on identifying prime shopping centre facilities (ie. acquisition).

So it seems like Savills is a good all rounder real estate management firm (as you would expect given the size of the company).

Not sure about this boss. Maybe Savills Malaysia website would shed some light on this.

Ekovest in starproperty news:
http://www.starproperty.my/index.php/artic...ure-titiwangsa/

Doubt so as prices have already increased since then if you've gotten in earlier. If you sell at launch price, I'm pretty sure it will sell so your downside is limited.

I heard block J and H have been fully sold recently from a vested sales agent with 1 drop out 762sqft unit but asking for 560k.

I might be biased but I do genuinely think that this is a strategic location in Cheras. I believe there was a discussion previously that regardless of the mall success, it is still a good buy as the mall is just an icing on top given its location. Leisure Mall is just around the corner too and with a covered link bridge to the MRT station, it is a commuter's dream to live in one if they work in the city. Say goodbye to traffic jams and car maintenance costs (subject to the MRT being efficient of course).

Go for the long game and I believe you'll be quids in. As long as you have the holding power, you can demand a price. If price is low, then keep holding on to it and rent it out. Once everything is up and running for Cheras (eg. Ikea, velocity, mrt etc.), i think value will start pouring in.

All I wish right now is that the developer takes this development seriously by ensuring the property finishes on time, has a good quality finish and good maintenance and management of the property on an ongoing basis upon completion. The potential is there so it will be a shame for the developer not to take this opportunity to build a solid passive income for their future earnings. If the mall is a success, then I reckon this will be one of the best developments in KL South.

Thanks for these updates Jagalat, very much appreciated.

Be rest assured that there are people checking out this forum regularly and reading your posts silently (like me..!). Keep up the good work. Hopefully the building height will go above the ekocheras road banners soon!

Anyone with any details on the next 10% payment please share alright... I think at this rate, seems like it works out better for those who didn't opt for the DIBS route (i.e. less interest charged when bank drawdown has been delayed).

Thanks for the info bro but did this come from a reliable source?

http://www.thestar.com.my/News/Nation/2015...uch-for-buyers/

“The buyer (flipper) might ask for RM3,500 rental but not get it, then he’ll drop the rental, then drop it and drop it again to RM2,000 or RM1,500 ... so it will be a renters market,” he says.

However, Siva stresses that it is not the entire housing sector that will be affected by lower rents; this would apply only in selected speculative sectors.

“I think it will be with the RM500,000 to RM800,000 condos, the high-end residential condos and shoebox units like SoHo, SoVo and SoFo, which have been built by the ­dozens,” he says, referring to different types of small commercial units, the small-office-home office, small-office-virtual-office, and small-office-flexible-office.

Any thoughts on this guys? I'm not flipping so I'm not too concerned but will be good to have some input regardless. Hope the majority of ekocheras buyers have a good holding power though!

Received letter to advise that the next 10% payment is due for payment by 14/12.

J

Link doesn't work anymore

Can nominate someone to sign on behalf of you. I've checked this as I'm based overseas...

I guess even if you prefer to sign it yourself, you can ask that the letter to be couriered to you.

Thanks Jagalat, great pictures. Despite all the recent negativity by some posters, I'm pleased to see that the project is still progressing. It may not be as quick as we all would like it to be but at least it is progressing (i.e. not redundant).

The recent pictures (6th and 13th December) seem to have more observable significant changes so I guess it was indeed time consuming to prep the foundation (happy that they took their time rather than doing a half-baked job). I would rather have a delayed project than to sacrifice quality.

I suspect it will progress much quicker going forward as it'll probably be easier to build above ground than to dig holes.

As for the project itself, I'm still confident with the concept and location of the project. The completion of this project will only make trips to Leisure Mall more enjoyable with more to do and see.

I've been living in London next to an overground station (not all London stations are underground) and I honestly love the convenience of being connected to all other parts of London at my door step. Unless I have the need for a bigger home (which makes it not very viable to live in an apartment), I'll go with properties next to a station any day be it for investment or own stay. This applies to KL as well.

In terms of the tenant profiles, because the project is linked to an MRT station, we don't just get potential tenants from the local area but other areas linked to an MRT as well. I see this as a plus point for properties linked to an MRT station.

Nevertheless, as with all investments, there's always risks involved. In the case of EkoCheras, typically these will be risks associated with an off-plan project. This is also the reason why the value will generally increase as the project's building gets more visible since the earlier buyers would have been compensated (well, theoretically this should be the case but not guaranteed ) for the risk of non-completion. Say what you want, but having seen property prices in Australia, UK and Singapore, Malaysia still has one of the cheapest properties for international investors.

Keep up the good work with the updates Jagalat and those who have been sharing info and ideas / applying pressure to the developer when things don't look quite right. I know we have a facebook group but closer to project completion, it will be nice if we can formalise a group (eg. owner's committee or something) to represent the owners of EkoCheras. If we have a strong committee, then we will have a stronger voice which will then make it easier for us to make suggestions / apply pressure with regard to the management of the property post-completion. Given the size of the development, we could even consider having committees by blocks.

All the best to us.

Guys, heard there's a new development coming up behind Ekocheras with 4700+ residential units + hotel + offices. 2 towers apparently have 70 storeys.

Anyone has any info on this?

Not exactly sure how this might impact Ekocheras but I guess we still retain the closest proximity to the MRT station.

This population of people may also help sustain our Ekomall.

Any thoughts?

Ekocheras definitely. I think it could even work in favour of us (for mall success) if they can attract more people to the area.

I've viewed Tiara Heights super semi-d development (if the prediction of this massive project is where it is, then that cleared land next to the project as seen on the map is where Tiara Heights is) and asked about direct entry from MRR2 but they said no plans in place and indicated safety concerns.

But who knows, anything is possible in Malaysia ;-)

I just hope they will be good road planning to ease the congestion.

In any case, I'm excited for this new area and quite positive to see that they are further investments pouring into this local area. The size of the total development in this area could potentially challenge Velocity already.

Merry Christmas all!

Any guesstimate on when we can expect the 2b billing?

Thanks bro, makes sense.