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Investment EKOCHERAS @ JALAN CHERAS (V4) [MRT PROPERTY] [OT], Where Cheras becomes Mont'Jiulai

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gks
post Jul 29 2015, 10:48 AM

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If Ekovest really send out progress billing in August, means they take about 20months from earliest stamped SPA to complete the piling + groundwork work....

Left 22months before the LAD kick in... Ekovest has a lot of works to catch up.


gks
post Jul 29 2015, 02:17 PM

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QUOTE(Jagalat @ Jul 29 2015, 01:16 PM)
One question to confirm, the LAD is based on SnP signing date or stamping date? Thanks
My lawyer told me it is based on stamping date.
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Signing date

The stamping date cannot be more than one month after the signing date otherwise penalty will occur.


gks
post Jul 30 2015, 12:24 AM

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QUOTE(Jagalat @ Jul 29 2015, 08:08 PM)
The video clip is in the Ekocheras.com, the "same" grocer appeared at Lower Ground floor  ....
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I think the retailers are not secured yet.

It is norm for developers to slight tweak the name of retailers in their Advertising & Marketing kits to avoid legal action....For exampel ABIBAS, STARDUCKS etc...
gks
post Aug 7 2015, 02:15 PM

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QUOTE(takezhiro @ Aug 7 2015, 01:20 PM)
Copy other forum thread. Important and general knowledge when you buying commercials resident so call soho

Arte Mont Kiara Project by Nusmetro

Sale and Purchase Agreement is lopsided. Just check carefully before signing.

1. completion period: 48 months from superstructure date and not from signing of SPA. That means the basement and car park can be built and progress payment will be released by the bank but completion period does not start. By the time reach superstructure, 50% of the purchase price is released already. Only then 4 years to complete

2. Defects Liability does not include air cond and pantry top only building work

3. Purchaser cannot sell property until strata title issued. Means not so good for investor because cannot sell. However if the developer agree to allow sale then the have to pay 1% of the new purchase price or valuation price (whichever higher)

4. Payment schedule - not normal, very upfront arrangement. there is a risk that the balance money may not be enough to sustain the project if any problem.

many more points. need to go thru carefully
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Takezhiro,
Arte is based on Non Sch-H, commercial property. EKC SOHO Block J & H are Sch H project. Both are different category.
gks
post Aug 7 2015, 03:30 PM

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QUOTE(Babizz @ Aug 7 2015, 02:25 PM)
very true.. problems come from those non sch H product like sofo sovo soxo & suite.. soho's are usually sch H..
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As commercial properties, the buyers will not enjoy the protection compared with Schedule H project, at least legality, progress billings, defect period etc. Therefore the risk is much higher.

However, putting aside sch H, investors need to think the reward and potential investment return vs risk and not bogged by Schedule H.
gks
post Nov 12 2015, 04:28 PM

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QUOTE(restful increase @ Nov 12 2015, 04:24 PM)
1 developer told me to construct 3 levels of basement is time consuming and costly. thats why most will opt not to construct basement carpark but will just choose to construct upwards fr ground floor.
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basement parking is at least double the cost of elevated parking. Ventilation, drainage design etc are very important to ensure no flooding and always well ventilated. All the cost added up

This post has been edited by gks: Nov 12 2015, 04:31 PM
gks
post Nov 19 2015, 09:21 AM

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QUOTE(The Jedi @ Nov 19 2015, 07:24 AM)
Two uncertainties still lingering among the buyers

1. The completion date will be late?

2. Will the mall be successful?

I think Ekovest also unsure at this juncture
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I guess that is why the balance units are selling at discounted price compared to similar concept such as Tropicana Gardens.

Tropicana Garden will be safer bet if prospect buyers are looking for certainties in mall execution and completion date.
gks
post Nov 19 2015, 11:03 AM

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QUOTE(HarpArtist @ Nov 19 2015, 10:13 AM)
TG is Kota damansara, this is still cheras. Thats the discount.
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I didn't realize KD is more prestiges location than Cheras lol.
gks
post Nov 19 2015, 02:46 PM

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QUOTE(HarpArtist @ Nov 19 2015, 12:17 PM)
to many ppl yes lor...to me im neutral haha. but im biased i grew up in cheras
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Need to check which specific part of KD vs Cheras also
If Leisure Mall vs Tropicana stretch... i do not think the location is losing out.
If KD claim proximity to Ikea/Curve, Cheras also got Mytown/ Ikea/ Velocity combo
and do not forget. KD is leasehold where Cheras majority is freehold
gks
post Dec 10 2015, 06:28 PM

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QUOTE(restful increase @ Dec 10 2015, 04:18 PM)
EKC has already refinanced the land for a bigger loan sum with or wihout your consent. The letter is just a notification notice to the buyers. The refinancing has already been completed. Personally i am not too concerned if the project delays till 2018. The property mrk will still be in a doldrum till end of 2017 judging fr anecdotal observation which is largely contributed by oversupply of apartments, low oil price, inflation. Let the mrt run its course at the end of 2017 first b4 getting VP for this project. Also retailers are not having a good time now so best let Eko Mall launch in 2018. By then there maybe an upturn in the economy hopefully.
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any source to verify this?
As per the SPA Sch H clause 2(1), it is clear that developer needs to get approval of purchasers, not notification. However, it seems nothing mention about refinancing of the land.
gks
post Dec 10 2015, 09:39 PM

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QUOTE(restful increase @ Dec 10 2015, 06:48 PM)
got the information from ekovest staff.
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If what ekovest staffs saying is true, then buyers can just ignore the letter since developer will go ahead with refinancing anyway.

Buyers lose nothing by not signing the letter..

However.... the content of the letter does suggest they need the approval from the buyers.


gks
post Jan 7 2016, 10:45 AM

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QUOTE(Jagalat @ Jan 7 2016, 10:43 AM)
Any blockH buyer in the forum, pls advise.
Thanks.
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Regardless the differential progress between block J & H, both blocks have to be VP-ed and obtain CCC in the same time.
gks
post Jan 27 2016, 03:14 PM

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Subsale purchase is... what you see is what you get minus the future development...

For buying from developer, you need to have vision and able to visualize the delivery, execution, the future trend and catalyst.

Obviously in case on ekocheras, you see it as half full glass and couldn't visualize the potential. Where else other buyers could.

Good luck in whatever your purchase!!!

This post has been edited by gks: Jan 27 2016, 03:15 PM
gks
post Jan 27 2016, 04:21 PM

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QUOTE(Newbie188 @ Jan 27 2016, 03:36 PM)
Can you elaborate more about the future trend and catalyst for this project?
You should have an encouraging point for the future development here and make you so confident for this area.
But is a good news for those tenants at this area, you not need so worry about the rental, cox 4k units service apartment is in a pipeline.
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Pls read all the version of this thread and make your own judgement.

Propcafe has reviewed the comprehensive the project.

After u gone through all these, do let us know your view and we can start a healthy discussion.
gks
post Apr 4 2016, 11:51 AM

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QUOTE(putraperdana @ Apr 3 2016, 08:40 PM)
Block E seems a long way to go. Basement not even dug?
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Block E is 38storeys... and due to duplex configuration, is like slightly more than half of the height of Block J & H which is 60 storeys equivalent.






gks
post Apr 4 2016, 12:01 PM

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QUOTE(syong888 @ Apr 4 2016, 11:04 AM)
HDA = LAD is applicable  brows.gif
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No point talking about LAD where nothing is delivered yet.

It will better if EKC focused on deliver good product.. get a good retail tenant mix for the mall etc....
gks
post Apr 12 2016, 10:14 PM

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Comparison of apple and orange despite both are fruits.
no question ekocheras is slow and probably will be delayed
however basement consume much more time compared to elevated parking and twice the cost as well.
gks
post Apr 12 2016, 11:43 PM

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QUOTE(woowoo1 @ Apr 12 2016, 10:36 PM)
Why apple n orange comparison. As with any new development snp has a completion date n developer would hv factor in all this period including more work due to mall.so how can we provide execuse for developer 4 being late like basement need more time to complete n so on. This is based on my observation at this stage.i stay nearby n i would love to see this project complete n provide convenience 4 shopping. Genuinely there is risk even for dibs buyers bec they cover up to certain years only after that buyer risk. I hope ekovest being a reputable highway builder do not desappoint buyers sine this is their first maiden prooerty project
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ww1, it is not excuse. but the fact is when you compare to conventional condo, it is not apple to apple comparison with Ekocheras. Some conventional condo even struggle to complete whole project in 36months.

My personal observation is they underestimate the amount of works especially the below ground work required and financing part of the project. However works seems to pick up and hopefully significant progress is achieved in coming months.
gks
post Jul 12 2016, 04:40 PM

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Does anyone aware ekocheras has 2 or 1 (block E) residential block

It seems from the KPKT website.... there are 2 residential blocks...

http://idaman2.kpkt.gov.my:8888/idv5/98_eH...proj_kod_Fasa=1

And if it is true there will additional new residential block, where would it be located? Behind the corporate office block?
gks
post Jul 12 2016, 10:27 PM

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QUOTE(Jagalat @ Jul 12 2016, 07:53 PM)
http://idaman2.kpkt.gov.my:8888/idv5/98_eH..._Nama=ekocheras

The service apartment was originally the BlockN.
It had later been converted to hotel units.
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Thanks Jagalat... you are walking encyclopedia of ekocheras.

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