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EMPIRE CITY @ Damansara Perdana/Mutiara Damansara, Version 2
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icemanfx
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 Oct 8 2016, 08:56 AM
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QUOTE(DS4 @ Oct 8 2016, 08:12 AM) Put it this way, In term market confident and financial viability during the stage of the development, The bank and financial institution are highly confident in taking over the development project as soon as the completion of the substructure and superstructure. That's why we always see a lot development project get abandoned before the completion of the structural works. Upon completion of this structural works, It's quite easily for financial institutions to look for further development right to continue those abandoned project as less hassle in dealing with overall rigidity of building that done by third parties previously. No bank ever take over abandoned project, only white knight. Whether worth while for white knight to take over depends on how much money is left in the project. If previous developer has claimed substantially more than work done, little incentive is left for any white knight. |
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wl_n
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Oct 8 2016, 08:57 AM
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If no money want to complete any easiest part of project and construction will also become so hard.
This post has been edited by wl_n: Oct 8 2016, 09:01 AM
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DS4
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Oct 8 2016, 09:01 AM
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Currently, I believe those purchasers are much more worried than developers.
Imagine, someone borrow from you.
Eventually, you will hope that nothing went wrong with him until he repaid your money
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icemanfx
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Oct 8 2016, 09:09 AM
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QUOTE(DS4 @ Oct 8 2016, 09:01 AM) Currently, I believe those purchasers are much more worried than developers. Imagine, someone borrow from you. Eventually, you will hope that nothing went wrong with him until he repaid your money A reason why some banks have currently suspended loan drawdown on and refused further lending to this project. |
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soitsuagain
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Oct 8 2016, 12:07 PM
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QUOTE(Irenehoo @ Sep 27 2016, 07:54 PM) Just passed by empire city and this is the latest progress This can be so impressive when it is completed. But meh looks like they totally screwed it up. |
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aspartame
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Oct 8 2016, 12:13 PM
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Still some say VP alresdy alresfy tenanted then some say die alresdy , so looks like some winners and some losers
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Clement1001
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Oct 8 2016, 12:13 PM
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I have a friend who bought E residence, which had already stop in progress, have to pay 10+k /month interest for 60% completion, and yet he's afraid to issue letter to developer. The only hope now is, developer will re start the construction end of the year.
This post has been edited by Clement1001: Oct 8 2016, 12:14 PM
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lk_chin
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Oct 8 2016, 12:18 PM
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Getting Started
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Any news from this development ?
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aspartame
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Oct 8 2016, 12:46 PM
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QUOTE(lk_chin @ Oct 8 2016, 12:18 PM) Any news from this development ? No news at all. Nothing is ever written about this project. |
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aspartame
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Oct 8 2016, 12:47 PM
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QUOTE(Clement1001 @ Oct 8 2016, 12:13 PM) I have a friend who bought E residence, which had already stop in progress, have to pay 10+k /month interest for 60% completion, and yet he's afraid to issue letter to developer. The only hope now is, developer will re start the construction end of the year. How much loan drawn down? Interest so high one? |
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aspartame
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Oct 8 2016, 12:49 PM
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QUOTE(wl_n @ Oct 8 2016, 08:57 AM) If no money want to complete any easiest part of project and construction will also become so hard. Head not so big want to wear big hat will be not matching lah. |
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wl_n
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Oct 8 2016, 01:28 PM
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QUOTE(Clement1001 @ Oct 8 2016, 12:13 PM) I have a friend who bought E residence, which had already stop in progress, have to pay 10+k /month interest for 60% completion, and yet he's afraid to issue letter to developer. The only hope now is, developer will re start the construction end of the year. 10k/month interest? in rupiah? |
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Clement1001
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Oct 8 2016, 02:06 PM
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QUOTE(aspartame @ Oct 8 2016, 12:47 PM) How much loan drawn down? Interest so high one? He owns more than 1 unit. |
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lk_chin
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Oct 8 2016, 02:16 PM
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Getting Started
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Empire damansara also doesn't goes well, nice special facet but it just doesn't seem to doing good as well, this developer maybe didn't see fengshui hahahahha
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DS4
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Oct 8 2016, 04:33 PM
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QUOTE(lk_chin @ Oct 8 2016, 02:16 PM) Empire damansara also doesn't goes well, nice special facet but it just doesn't seem to doing good as well, this developer maybe didn't see fengshui hahahahha To me, the main failed reason is lack of experienced in developing such a huge and high GDV development. No effective cash flow forecasting and test running during planning stage . |
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lk_chin
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Oct 8 2016, 06:15 PM
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Getting Started
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QUOTE(DS4 @ Oct 8 2016, 04:33 PM) To me, the main failed reason is lack of experienced in developing such a huge and high GDV development. No effective cash flow forecasting and test running during planning stage . Wonder why they didn't learn on their empire damansara project. And that place seem to be dying |
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icemanfx
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Oct 8 2016, 06:18 PM
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QUOTE(DS4 @ Oct 8 2016, 04:33 PM) To me, the main failed reason is lack of experienced in developing such a huge and high GDV development. No effective cash flow forecasting and test running during planning stage . If a person believe he is the gold finger, could turn anything he touched into gold, why need to bother with forecasting. |
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Irenehoo
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Oct 9 2016, 12:42 AM
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Getting Started
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QUOTE(wl_n @ Oct 8 2016, 01:28 PM) 10k/month interest? in rupiah? The purchase price of landed property at empire residence starts from 2mil. |
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BEANCOUNTER
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Oct 9 2016, 01:40 AM
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QUOTE(Irenehoo @ Oct 9 2016, 12:42 AM) The purchase price of landed property at empire residence starts from 2mil. Started from 2mio? You sure? I know later phases...net net price around 1.3mio nia. Even their 1st phase think around 1.7mio... |
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icemanfx
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Oct 9 2016, 04:42 AM
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QUOTE(Clement1001 @ Oct 8 2016, 12:13 PM) I have a friend who bought E residence, which had already stop in progress, have to pay 10+k /month interest for 60% completion, and yet he's afraid to issue letter to developer. The only hope now is, developer will re start the construction end of the year. Your friend is certainly have gold and silver mountains backing. |
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