lets us know the result after you call up
thanks

economic crisis project on hold?

Called them up, initially they had problems with the oxidation tank piping (something like that) but they assured me that work are being done to finish up the atrium which is supposed to be opened on 08-08-08.

I sense delay on the rest (i.e. residence, sohu, crown).

To be absolutely honest i wouldn't mind the delay....as long as it's finished by next year....i am just simply terrified of an abandoned project......

Let's keep a positive mind.

Okie...positive mind it is....

Completion date pushed to Sept 2011

What your S&P write? Mine says March 2010.

September 2011 ? Is this for Axis Crown Or Sohu? My god SuiTeng........thats another 3years for you....given that you bought crown.......

Sept 2011? they told u this for axis crown? or how about axis residence?
u refer to customer serv or sales & marketing dept?

That's for Crown, the final phase. Dunno about the rest though. But are you sure you wanna move in when there's construction still going on the next wing ar? I dun think so lor..

This is a commercial property you're not liable for LAD. Be prepare for the worst, it is very unfortunate recession hit us this year. RK for sure is not prepared for the sudden storm.

Why US is the blame?

Well......i really dont know what to say......this is new for me.....i think i should re-read my SNP and also read other stuff to understand how to react in times such as this.

Jason bought sohu?

Yup...sohu....

Your completion date is when ar? According to S&P la..

Sorry for the reply on this. My completion date shows that it is April 2009. Furthermore the developers have taken about 75% of my loan amount....does anyone have any other update on the progress of the building????

hi there,
I bought Axis Residences. 739sqft type-C. West Wing 13th floor (W13-07) Completion date shows April 2009 too.

However so far the developer only withdrawn 10% from my loan (Maybank).

I think the developer's lawyer (MESSRS EDWARD SOO, LEW & CO) is "so so..." read thoroughly the S&P again & again, you will find the content were just TOO GENERAL. I will get my own lawyer to scan throw the doc. again to play safe. And I must say, beware of this EDWARD SOO & LEW who never follow up with buyer, I doubt if they "pakat" with RK just to earn from INTEREST CHARGES, as they always delay in facilitate the necessary doc to the bank's lawyer.


Come to the Maybank lawyer (MESSRS YEOW & SALLEH) even lousier! for:
1. Usually legal firm will send you the doc for signing (doorstep services), but YEOW & SALLEH does not,
2. worse was they don't even facilitate me an Original Copy of both " Deed of Assignment" & "Facility Agreement" (which buyer are suppose to keep a copy).
3. they will NEVER FOLLOW UP from the buyer for their action required, which caused a lot here, including me kena penalty from the Developer as well.

This project definately will be delayed, so get ourselve ready with all the legal issue that we might face. AND BE REMINDED, DON'T SIGN ANY LETTER FOR THE DEVELOPER before you understand what is that for.

To all buyer, let's stay in touch closely

Well, after reading this thread and also another one on Lowyat (http://realestate.net.my/forum/viewtopic.php?p=140160#140160) I can now safely assume we have a huge concern. Sohu is my first property as well. I remember people telling me never to trust a 1st time developer, however I ignored all signs and proceeded to make the purchase.

I only have one complain, why is it that the developer can’t be more transparent in telling us on what’s going on. The entire property should be ready by May 2009. Today is the 1st of December 2008. That’s only 4 month before the due date. Last I heard they have only reached the 10th floor. 10 floors in 2 years!!!!! What are they going to do now, rush 23floors within 4months? I don't think so.

I am neither an engineer nor a certified developer, but I can immensely conclude that the development will be delayed by a number of months. So why can't the person in charge of this development advice us of this? Be TRANSPARENT. Tell us that the project is delayed by a certain number of months and that they will compensate us for any difference in the change of completion date. Send out a memo to all purchasers to advice the sequence of events leading to the delay and what they (RK) are doing to fix they delay.

This will definitely give the buyers some sort of satisfaction. How is keeping us in the dark helping them at all? So far my bank has released about 70% of my loan to the developers. I am already paying more than half of what I need to pay when my house is completed. I am not sure if it’s the same for the rest of you but I just want answers and explanation.

So RK, are you able to shed us some light? The rest?



Regards,
Jason J David

My bank released the same amount also, and I've been paying a lot. Well we definitely cannot consult the lawyers from both sides, so what's next?