Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

Investment J. SATINE RESIDENCES / RUMAWIP @ SETAPAK, High dense project near Giant Setapak

views
     
gks
post Jan 28 2021, 01:49 PM

Look at all my stars!!
*******
Senior Member
3,835 posts

Joined: May 2008
Location is quite good, central and convenient. Good choice for own stayers.


gks
post Jan 28 2021, 02:40 PM

Look at all my stars!!
*******
Senior Member
3,835 posts

Joined: May 2008
QUOTE(AskarPerang @ Jan 28 2021, 02:02 PM)
So many affordable homes around the same area.
Better location compare to SkyAwani 3 and 4 which is not too far away. Walking distance to Setapak Central Mall.

Anyway size and price is unknown.
And whether come with condo facilities such as skyawani series.

Already got construction going on. I think at level 2 or 3 now.
*
Yup. Only good for own stayers. If you are buying for investment, prepare to hold very long term to see any capital gain. But anyway this is rumahwip.. Not suppose for investment anyway.

But other private condo / wangsa Maju will be affected when all your prospect buyers rather buy these more affordable housing unless you are willing to reduce your asking price.
gks
post Nov 12 2024, 10:29 AM

Look at all my stars!!
*******
Senior Member
3,835 posts

Joined: May 2008
QUOTE(victorian @ Nov 12 2024, 10:21 AM)
Gov can't do much la. Look at the nearby Residensi Hektar, also abandoned since the 2018 government.

No politicians actually play up the issue, the residents are on their own.

Oppositions do not meddle in this too much because they know that it will backfire on them next time if they take back the helm.
*
Most of the time it is not about the completion but the LAD.

LAD can be double edge swords to the buyers.

If you as buyers going for LAD, better aim for reputable developers. if you buy from non reputable developers, if they are late be prepared they may abandon rather than pay LAD.
gks
post Nov 12 2024, 10:57 AM

Look at all my stars!!
*******
Senior Member
3,835 posts

Joined: May 2008
QUOTE(sadukarzz @ Nov 12 2024, 10:43 AM)
While I can totally understand your point is to rescue the rakyat, but the fact is government still need to spend own money to rebuild / complete the project

Who's money are they spending? Taxpayers money

Who do they have to answer to? Taxpayer

How many people are the buyers of Jsatine? Probably 5k people

How many people government have to answer to? Probably close 20million people

If government could and "should" save this project, why haven't they done so for past projects?

And now developer also didn't say don't want to rectify, why government have to step in now?

Separately

But then you will have to ask the question on behalf the "rest" of the rakyat

Why save Jsatine specifically first?

What about other that has been abandoned in the past?

If need to save all of the project using government funds

1. How much government need to spend to save projects across Malaysia?

2. How many more developers can just build halfway using subsidiary, lingkup halfway, wait government to save the project (or in your terms, rakyat)?

That was the question I can think of by just rationalize abit on 'what if government saves these projects for the people?'
*
Government aka public money shouldn't be use to save private projects. However government can facilitate a white knight to take over and usually the white knight will ask LAD waiver.

gks
post Nov 12 2024, 12:10 PM

Look at all my stars!!
*******
Senior Member
3,835 posts

Joined: May 2008
QUOTE(victorian @ Nov 12 2024, 11:42 AM)
To be honest, the magnitude of this issue is even larger than a project being abandoned.

For abandoned project, Gov has set up a guarantee scheme for white knights to take over and complete the project. The underlying financial issue is much easier to solve.

Compared to the current issue, which not only involves the financials of the developer but also the structural integrity of the whole building. Coupled with this being a high dense affordable housing project, this is a sticky situation to solve.

I much rather be in Residensi Hektar's shoe.
*
Perhaps the buyers just wait for the independent report

Most important developer keep transparency and take responsibility to rectify the issue.
gks
post Nov 18 2024, 12:57 PM

Look at all my stars!!
*******
Senior Member
3,835 posts

Joined: May 2008
IMO no point to speculate. Wait for for independent report to come out and if developer will share the finding and most important the remedies in public to regain back the confidence.

Also no point to rub salt to the wounds especially on these first time homebuyers. those buyers who by coincident read LYN may panic and create unnecessarily rumor.

 

Change to:
| Lo-Fi Version
0.0240sec    0.57    7 queries    GZIP Disabled
Time is now: 21st December 2025 - 08:51 PM