biasa lah...someone will brave to go declare safe, remedial work patch then VP

no collapse, then ok, if collapse then just blame that person say safe and penalty. developer wash hand. buyer dead already.

so what have we learned here? there is another risk buying undercon properties other then the typical risks. Also, even building can get VP. No one would dare to buy at secondary market. Hence, buyers likely stuck for life or wait like 20 to 30yrs till people forget.

SPAs are final to the extent they don’t contravene Statutues.

LADs are statutory remedies available to house buyers under the HDA. Hence any provision in a contract that removes/curtails the rights and obligations of parties that are enshrined in a statute - only that portion will not be enforceable. It would have to be interpreted in tandem with the Statute.

"We expect the full report to be ready within the next few months. This report will detail the exact nature and extent of these issues and recommend specific remedial actions,” it added."

You conveniently omit this part from your reading?

Hold your houses, just wait for thier detail report and remedial specifics

This post has been edited by jojolicia: Nov 19 2024, 08:28 AM

so what's the update now?

Bullshit remark of "Indian". India has one of the most sophisticated architectural history. I just said the movie reference. Not country. Wonder how on earth you get many stars.

then how about this news article??
Fake news??

https://www.channelnewsasia.com/cnainsider/...n-mafia-1323731

Wadever remedial it is.. this property value sure sudah jatuh as the talk of it will continue 5 to 10 yrs

Its rumahwip anyways, cant sell it within 10 years but theres soho unit which is different building itself and i believe is unaffected

those under con floor collapse still ok as due to insufficient support during casting. this one serious problem, who dare to even stay.

People will forget eventually especially if the market is hot. But the smart buyer should do his due diligence. There are developments built on former landfills which didn't follow the recommended duration for land settling and highrise/mall and landed property built on the land. Initially values were suppressed but now the landed component prices are up and this point forgotten. The smart buyer will go to LYN to check the history of the chats (which was what i did when i decided to buy a property).

No updates from developer?

Really no one working at the site?

So far seems like no work at all at the site.
Main entrance also blocked by DBKL yellow tape.

I wonder how long it would take to get the report by the independent auditors.

This post has been edited by shafiqrahman: Dec 19 2024, 12:33 PM

A few months if not over a year.

Hope things goes well. Would be really sad for the buyers if it ends up abandoned. End of the day it's the buyers that suffers

Walauweh kesian kat buyers kalau take years to rectify & complete the project.

Rumawip buyers are mostly people who needed affordable homes right.
Paying the current rental & then their loan already partly disbursed, hopefully, things turn out okay for them.

maybe will compensate the buyer with PV22 (more luxury non rumahwip project.)

more the look its almost hard to rectify due to the almost completed the top and even tear down partially and build also will trigger LAD late penalty. Only solution is compensating premium project to the existing buyer

Those Residensi Hektar buyers are going through this. Really pity them. Easy for the developer to just run away like that 😔

Declare bankrupt is easier.

Their PV22 also need capital to fund the construction, impossible they will give it out for free

The best way forward is for everyone to take some losses. Buyers need to be reasonable and let go of the LAD if it means that the project will be completed even though late. Developer need to be responsible to rectify the defect and rebuild to completion even if it means they make loss on this project. If buyers die die want LAD, the worst may happen and PV allow developer company to go bust leaving a very unsafe eyesore.

sadly many of the abandoned project are made up from rumahwip