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Investment Ion Majestic Genting Highland, Property Investment

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n_minie
post Jul 31 2018, 08:48 PM

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Any views on this proj? Heard the sales is quite good
n_minie
post Jul 31 2018, 11:19 PM

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QUOTE(kei86 @ Jul 31 2018, 10:40 PM)
Where did you get the news from ?  biggrin.gif
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Booked units. Most units especially smaller ones are almost snap up. Wanna know what's the potential of this place than the common grr. Psf also quite high..
n_minie
post Aug 2 2018, 05:22 PM

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QUOTE(michaelchang @ Aug 1 2018, 01:56 AM)
Not much potential, only good as vacation house

investment wise, STAY away  tongue.gif
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Was thinking the same too. Saw ion delemen the existing proj altually getting good response in terms of occupancy. Assuming they keep this momentum should not hv this prob for owners to get their $$?
n_minie
post Aug 2 2018, 06:46 PM

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QUOTE(icemanfx @ Aug 2 2018, 06:00 PM)
What does good occupancy rate mean? Over 80% occupancy over 365 days period?
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Weekend they are surely fully booked as of now. Saw their booking frequency via booking.com. quite high their frequency. Fyi am not an agent. This are just my observations. But this being high on a hill I still have some reservations. Thats y asking sifus here for your humble advise and opinions
n_minie
post Aug 2 2018, 07:20 PM

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QUOTE(icemanfx @ Aug 2 2018, 06:54 PM)
Guests/visitors can count occupancy rate from booking.com?

If every weekend is fully occupied, that would be about 29% occupancy rate. Can break even at below 40% occupancy?
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Obviously weekday pun ada la.. Can't be zero occupancy but i seriously don't know occupancy rate on weekdays. Perhaps can kepo and ask.
n_minie
post Aug 5 2018, 11:29 PM

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QUOTE(machoman88 @ Aug 5 2018, 08:04 PM)
Some photos from my recent stay, quite disapointed, definately not 5 stars standard, 3.5stars max

[attachmentid=9955383]

[attachmentid=9955384]

[attachmentid=9955385]

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[attachmentid=9955387]
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This hotel is not rated 5 star ler. Suppose to be a 4 star hotel
n_minie
post Sep 18 2018, 02:22 PM

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QUOTE(chris1019 @ Sep 18 2018, 11:10 AM)
Hi, y it's not good if as investment? Do u mean re-sell value will not good? Sorry, I'm new in property investment

Actually I pretty interested in this project... Any advice?

Thanks
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I think this is not bad too.. during bad times... tourism will still be there. The occupancy rate in the current ion delemen also not bad. Been there during weekend and weekday. Weekend is fully booked. Weekday is not too bad but u do see company hosting events and meeting there.

Wyndham grp is indeed an experienced hotel management. So if they can continue to manage I think this will do well. The only downside is the location is not as great as the roads leading to the hotel is a bit on the narrow side.

The existing ion delemen owners are already getting their % .
But of course everything also have risk. If u want a hassle free then can consider this proj.
n_minie
post Sep 18 2018, 10:02 PM

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QUOTE(michaelchang @ Sep 18 2018, 08:45 PM)
Overprice for investment, rental return guarantee is for short term, after that sell cheap cheap also nobody wants..
Look at some of the older apartments at genting. Will u buy those even it's very cheap?
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If u r talking about the ugly amber court.. heard ada ready buyer because they r buying to let their staff stay. For ria appartment also have pl buy because business is good. Unfortunately not many pl want to sell . Doing airbnb.
Really need to talk to those players in genting to find out. Already 2 to 3 pl tell me theyknow pl who onwed few units in genting and makING $.

Difference between other old appartment is the mgmt issue.. if jmb no good.. not only genting. . Any appartment in kl also sell cheap cheap no body wants. Looking at the newly vped units in kl.. who is making $$ or can cover installment?
n_minie
post Sep 19 2018, 09:23 PM

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QUOTE(chris1019 @ Sep 19 2018, 08:25 PM)
Seriously I still ding ding dong dong.... I dono should buy or not... Haha
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Trust your instinct. This forum is good for info sharing but it's really individual opinion. Managed to book a unit.
n_minie
post Jan 23 2019, 12:30 AM

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QUOTE(michaelchang @ Jan 22 2019, 08:19 PM)
good try! no matter how u try to advertise this project the result will still be the same

in years to come, it will be empty and haunted like the rest of the apartments
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Weekend is indeed full. I've personally experienced it myself. I guess if the managed it properly am sure it will do well. Anyway location is still at the mountain top which is an added advantage
n_minie
post Jan 23 2019, 11:12 AM

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QUOTE(nexona88 @ Jan 23 2019, 08:12 AM)
Agreed..
Weekday & off holiday season also needed to contribute... If not really cannot cover...
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Of course but weekdays they do have occupants too from corporate events & functions. Not forgetting tourists. Don't forget Genting is indeed a very touristy place.
Other hotels in kl are also the same. Can't only rely on hotel rooms to generate income.
n_minie
post Mar 25 2019, 01:02 AM

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QUOTE(Shee_Wei @ Mar 11 2019, 11:23 AM)
The project is still ongoing, site is just next to Grand Ion Delemen Hotel.. understand from SA that it is currently in pilling stage.. will try to take some pics when i visit again.
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How's the sales so far ?
n_minie
post Aug 1 2019, 12:55 PM

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QUOTE(myron52 @ Jul 15 2019, 06:50 AM)
I'm created Facebook owner page "Grand Ion Delemen Owner Club"
for whatsapp, can you create new group then invite us to join?
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Couldnt find the fb grp
n_minie
post Aug 5 2019, 03:17 PM

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QUOTE(yhanlee @ Aug 3 2019, 11:48 AM)
Great for you bro. My agent tried uob and then ocbc. Took too long for my liking and finally gave up. Maybe not fated to purchase this property 🤣. Now with the good news from genting so this should be a good buy
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Perhaps I guess u can try again. I believe still ada units available
n_minie
post Aug 8 2019, 10:59 AM

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QUOTE(RexChou @ Aug 8 2019, 12:54 AM)
Is it Ion Majestic Genting Highland project better than Windmill Upon Hills project?
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I think 2 different product. Ion Majestic is a 5 star hotel based concept. Windmill is more for residential / home stay where u can choose to manage your own.
Location wise one is at mid hills and the other is hill top.
If the developer managed to deliver what is promised. .. then ion is a better buy.
n_minie
post Aug 9 2022, 10:37 PM

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QUOTE(rotloi @ Apr 8 2022, 01:17 PM)

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Progress still v slow
n_minie
post Aug 10 2022, 11:08 PM

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Hopefully not. Material price went up. Anyway i thinm its been sometime since any payment is made. Means progress super slow. I think more than 2 yrs?
n_minie
post Aug 11 2022, 11:40 AM

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QUOTE(icemanfx @ Aug 10 2022, 11:54 PM)
Likely the main contractor is having cash flow issue.
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U sure abt this?
n_minie
post Oct 15 2022, 05:10 AM

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Hows this proj so far .. is this another abandoned proj?

 

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