Another icon doom to failed city

A lot factor in play at the moment 1stly the land is leasehold which is difficult to convert to freehold due to land ownership

2nd to convert to freehold another matter is the park and commercial area phase 2 which will be doubt as oversupply in the surrounding areas

3rd land across is still under light industrial which would be dampener unless the FTZ is redeveloped as new mix commercial and residential which a huge undertaking since early 2010s

Sarena philosophy doesn’t work here unless the light industrial area to be converted as educity with connectivity to KTM and BRT for growth

The big deal was suppose to be regazette and rezoning from light industrial to mixed commercial zone which fail back 2016 due to MBPJ and Selangor government with PPP development to kick place into it

Most buyers who bought into Serene are duped into clean, relax and lifestyle when the fact traffic is gonna be even crazier when Wistron kicks in place into their redevelopment of the project so a lot of factors in place hence fear happens flippers game the market

Expat potentials to rent will not happen as Wistron is localised workforce hence appreciation will not be there for Serene due the land status long long time ago which sorry to say suckers got duped into it

Just like another soon to be Icon City wannabe

Not dupe but when the project was launched in 2017 there was a lot of unanswered question from those seasoned buyers which ultimately pull out hence the project was in limbo as the completion was supposed to be done in 2020

Don’t blame COVID20 when their plans gone awry since 2018 and now with the so called GRR and Houzkey with leasehold status hence with their pricing the project is doom to failed from day 1

Entry and exit into the area is bad coupled with the interchange during peak it is a mess, land status leasehold and coupled with commercial rates for utilities because it is still considered as industrial unless upon completion it is able to convert into housing status

The red flag was already shown since MahSing super ambitious IconCity which doom to failed from end 2018 which commercial lots are still stagnant 2 years from now

You seriously need study on why some property works and some not because ultimately Masterplan and project timeline completion are key for property appreciation especially new parcel of land coupled with catalyst from neighbourhood infrastructure development hence demand and price increase

Good example now you can see the craziness in DPC is the best example with mature neighbourhood and Garuda Kota Kemuning and Sime Darby USJ back in house hey days in 2005 where in 3 years price almost doubled for some units in the next 5 to 8 years

Mostly rumours are started by developers and flows down to marketing agency to viral hence speculations otherwise developers would bleed to death because most developers are gaming the high rise system since day with insider staff trading which is gonna be hammered badly soon

Supposingly affordable housing back in 2018 but the plans might have change because the parcel land held by SinChew Press which is the biggest sticking point

Datum was failed back in 2016 then affordable housing back in agenda in 2018 which masterplan till today hasn’t released yet

Smart pullback as I know few who can’t wait next year to offload with a small net loss