Country garden @ Danga Bay is Launching Soon

[graveyard]

This phrase is now infamous. Some countered "Apa lagi Mahathir mahu ?"

The economic power wielded by the chinese cannot be disregarded. Even mahathir has acknwledged this

 

[graveyard]

been busy with a few parties but I am free tonight so I will post a little on Country Garden (CG).

Went there recently on a weekday. was very surprised that they were very organised. there was a guard who stands by the road to point out to SG cars the entrance to CG. and they had ppl to tell you where to park and after you park, they have ppl pointing out the showroom to you. all in all, I was very impressed with the hardware. I could see that a lot of effort and thought went into the organization and marketing. the landscaping was great. the man made beach looked good. oh! and the car park was half filled with cars!!! on a weekday, that's very impressive.

for those who have been following my posts, you will recall that I said I wont be buying into CG. I have my fears abt building so soon after land has been reclaimed. maybe my fears are misplaced, but its not something I wanna take a risk with. lots of projects in JB. why so hard up for this one, rite? anyway, because I am not keen on this project, I didn't ask too many questions - only a few on the large sea facing units in the unlikely event I buy. info below

- was told that 5,000 of the 9,000 units have been sold.
- 1,500 sqft units are RM1,100 psf and up. at this price, I would rather go for Capri next door. MUCH NICER!
- they couldn't commit on what will actually be provided with the unit/. maybe sales person new to the job
- the straits of Johor is actually quite wide at this pt, so it does look like a mini sea. The straits is really narrow at PH.
- there is a really cute customer service girl working there. couldn't get her alone and hence didn't get her number. damn! but really quite cute. you guys might wanna check her out. good luck.

overall, my feel is that unlike my damned Tiong Nam project, CG will most likely get built. the hardware and marketing seem to indicate that these ppl are serious, working ppl - if you know what I mean. it is a solid, reliable project. club house is already up. it has a functioning bowling alley!!! I would buy if they have a functioning night club! but unfortunately, they don't. also have a real wine shop selling wines and a provision shop selling coffee powder. so the estate can be self contained.

downside - it is VERY MASS market. I foresee a HDB estate in the making. If I wanted to stay in a HDB, why come all the way to JB rite? Also, with them increasing (slowly) the price, the incentive is slowly diminishing. I am also not a big fan of the unit layouts. the living room is quite narrow - think HK and SG condos. again, why would I go all the way to JB and buy a SG style condo? then again, this is just personal preference. i am the type who likes a 1,500sqft 2 bedder - big living room type.

conclusion - this project is not for me. but for forummers who want something cheap (non-sea facing) and the confidence that the developer will actually complete the project then CG is quite a safe bet from what i have seen.

I bet you enjoy the bikini girls catwalk like those ghurka guards. Noticed that when i was there

 

[1nottiboy]

there were a few walking around but i too shy to buaya them. the sun was still up.

I bet you enjoy the bikini girls catwalk like those ghurka guards. Noticed that when i was there

 

[IRONMAN123]

there were a few walking around but i too shy to buaya them. the sun was still up.

Bikini girls...

 

[graveyard]

Bikini girls...

View attachment 11814

Omg. Must ... Resist .... my hand moving on its own .. Writing a cheque arghhh

 

[IRONMAN123]

Omg. Must ... Resist .... my hand moving on its own .. Writing a cheque arghhh

If their sales girls wear like that, i already sign my cheque...

 

[1nottiboy]

OMG! nose bleed.

 

[graveyard]

If their sales girls wear like that, i already sign my cheque...

Actually their sale girls are quite eye candies. I was looking at them much more than i looked at the showroom, condo model

 

[malpaso]

you know, i really really really must go CG showroom soon just to check out the ... errrmm.. property.

 

[graveyard]

you know, i really really really must go CG showroom soon just to check out the ... errrmm.. property.

Hahaa best assets .. I mean .. In terms of real estate. Hmm is this the sammyboy forum for property or ....? I may have logged in the wrong portal

 

[nextreal]

intial news was that PRC bought more than 50% units in CG, but according to news Malaysian bought 60% unit. is it correct? or its just marketing stunts to distract buyers from PRC label that CG has been tagged from begning

http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=971222

Firstly, I question the accuracy of this Bernama article. Last weekend, it was reported that more than half, or 5000+ units were sold. All in a few days, the number had increased to more than 8000? Also, CG had reduced the number of units to 9000 since Jun, I think. The report still states 10000 units. Hmmm.

Secondly, the article was written in reported tense, so "were" was used when they state the percentage of the buyers. That could very well meant when the project was first launched.

Thirdly, stats can always be creatively manipulated for presentation, like FHBH12 stated.

 

[nextreal]

After tracking so many new launches in Singapore since several years ago and now in Malaysia, I notice that usually observers will trash the new launches and criticise the record-setting psf, but 2-3 years later they will say it is actually a good buy and they missed the boat. The same is probably happening in Johor now. 2-3 years later we might say that it is a good price on hind-sight.

We will see how it goes 2-3 years from now.

I agree with you. Hindsight is always 20/20.

When The Sails was first launched at $1300+psf (it might have been cheaper), people were calling the buyers crazy. Same went for those who bought $350k HDB flats at Pinnacles@Duxton. My personal experience, and loss, was that I was fearful to buy a $600+psf unit at City Lights (opposite ICA) in 2005. Man, those who bought had been having the last laugh ever since.

Weirdly enough, I am glad that there are still a lot of contrarians and fear in investing in Iskandar. Conversely, I will be fearful when the average aunties at the hawker centre start to consider to invest themselves. This was what Warren Buffett taught me, and what I experienced in many forms of investment vehicles personally.

 

[nextreal]

for those who have been following my posts, you will recall that I said I wont be buying into CG. I have my fears abt building so soon after land has been reclaimed. maybe my fears are misplaced, but its not something I wanna take a risk with. lots of projects in JB. why so hard up for this one, rite?

I think the portion of the reclaimed land which the showroom and carnival are sitting on now have been there for around 10 years. I vaguely remember that an IRDA official explained to me that this reclaimed land was abandoned by the developer after the previous Sultan objected to building anything in front of his palace.

However, the Eastern 1/3 which is under reclamation now will be unsuitable for immediate construction. I am no civil engineer, but compacting enormous amount of weight on newly reclaimed land, especially in the form of a shopping mall with at least 15+ stacks of building, without letting the land settle, is a recipe for disaster.

I mean, even Temasek won't be building anything on their reclaimed A2 Island until 2021 (if the report is correct).

 

[gooddebt]

I think the portion of the reclaimed land which the showroom and carnival are sitting on now have been there for around 10 years. I vaguely remember that an IRDA official explained to me that this reclaimed land was abandoned by the developer after the previous Sultan objected to building anything in front of his palace.

However, the Eastern 1/3 which is under reclamation now will be unsuitable for immediate construction. I am no civil engineer, but compacting enormous amount of weight on newly reclaimed land, especially in the form of a shopping mall with at least 15+ stacks of building, without letting the land settle, is a recipe for disaster.

I mean, even Temasek won't be building anything on their reclaimed A2 Island until 2021 (if the report is correct).

My input is that CG will not jeopardise their hard earned ranking as the 7th top developer in China and a Forbes Fab co. by building something that will collapse. am sure they wud hv done their homework checking the reclaimed land etc. as mentioned by nottiboy, they seem very serious n detailed pple by the way they run the marketing campaign, with even the guard at the entrance carrying a big rifle to add to the feel of security.

 

[tigerkl]

I booked 2 higher floor (40+ fl) at block 12B with 180 degree sea view (very close to yacht and club house also). Willing to let go with some take-over fee. I booked during VIP launch phase a few months back and enjoys a 15-20% lower price (only 850-900 psf) compares to current launching price. contact me at [email protected] if you are interested. Act fast as the SNP signing deadline is close now...

 

[nextreal]

For the sake of the owners there, I really hope I am wrong.

 

[hasslehoff]

I hope you are wrong too. Since I bought a few units there....hope I'm not being too selfish, I don't want to die!.

Needless to say, there is much at stake to many stakeholders, if land reclaimation/development is not done properly.

As mentioned the Developer has a lot to lose. Flagship project, highest profile, marketed in many countries. Impact will be, lost of reputation and destruction of brand name overnight. CG listed on HK Stock Ex will lose Millions/Billions - wiped off HK stock. CG made 5 shareholders Billionaires. Probably held in stock. Will they be watching this carefully. They will lose everything, and be reduced to farmers once again if anything happens. Their wealth is tied in with the success of this company.

Probably more importantly IWH has more to lose. Datuk Lim Kang Hoo has singlehandedly spent the latter part of his life investing and redeveloping the JB coastline/waterways. This is his dream and what he lives for. This will evaporate and probably he/IWH will not recover from it in his lifetime.

There is an impending IWH IPO soon to be launched. Massive investments at stake. Cornerstone investors may include, BlackRock, Robert Kuok, Franklin Templeton Investments, Temasek? If anything happens, it will put every reclaimed coastal project on hold indefinitely. Platinum cove, Tropicana Cove, Emerald Bay, PH, Brunsfield, etc. Any land on the coast which has been Reclaimed/Enhanced/Modified in some manner, may be affected, since most of it was Mangrove swampland at some point.

Many parties with vested interests in Iskandar will want this project (and many other high profile ones) to succeed. The tipping point will be set back in reversal otherwise. IRDA who was blamed for the reclaimation cockup at Lido B. will not want to see a repeat.

Many eyes are on CGDB. Any failure, will affect all projects in Iskandar. It will tarnish JB/Iskandar/Malaysia's reputation, and affect confidence and perception, and thus Demand. (Just like incident of deaths on a rollacoaster ride in a Theme park will ruin the whole park). It will deter future investments - developers, theme park operators, residential buyers, etc. for many years. It will not be a China Developer thing, it will be a Malaysia Iskandar thing. (CG has not just built 1 township, or 10 or 20, but over 100. They know how to build - Commercial towers, Hotels, residential housing/condos). All parties that are involved including the JB civil engineering/surveying authorities that sign off on the approvals, will have to be held accountable.

Besides this, don't forget DB is the [B]Sultan[/B]'s backyard. His residence overlooks the DB coast, and I'm sure he doesn't want to see a pile of rubble whilst looking out of his window, sipping his Earl Grey afternoon tea. And last but not least I don't think PM Najib will want to explain to Chinese Trade Officials, why 1000s of PRC fell into the sea, nor explain to my mama, why oh why, her son had to die such a horrific and embarrassing death, lying on a bed of rubble, in his bloodstained red Speedos..

 

[hasslehoff]

The Wall Street Journal
Escape to Iskandar
House hunters in crowded, pricey Singapore are fleeing to Malaysia's new commercial zone in search of affordable homes, peace and quiet, and some elbow room

http://online.wsj.com/article/SB10001424127887323734304578543423340508156.html

'Mr. Goh said the abundance of land makes it easy for property developers to keep building, which could result in deflated prices. He advises clients seeking to invest in Iskandar to purchase beach or waterfront property, which is limited. Such homes are popular with mainland-Chinese buyers. '

Don't get me wrong. I love landed. Desa Tebrau, SECascadia, Nusa Idaman/HH, But my intention all along for investment (and if all things fail - own stay), is to buy affordable (655psf), accessable (5min to CIQ/RTS), rentable (low entry price), livable, lifestyle (seafront/beach/recreation), property. (Shop house along JWAF JBCC too ex and complicated).

9000 units not for everyone, but at least seafront/beach property appeals to 1 billion others. Hopefully, no shortage of future buyers when I sell. PRC can be a saving grace, if all else fails (Sprns, Mly, S. Kor, Jap, Philpp, Indns, etc) in an overpriced and oversupplied market.

 

[FHBH12]

The Wall Street Journal
Escape to Iskandar
House hunters in crowded, pricey Singapore are fleeing to Malaysia's new commercial zone in search of affordable homes, peace and quiet, and some elbow room

http://online.wsj.com/article/SB10001424127887323734304578543423340508156.html

'Mr. Goh said the abundance of land makes it easy for property developers to keep building, which could result in deflated prices. He advises clients seeking to invest in Iskandar to purchase beach or waterfront property, which is limited. Such homes are popular with mainland-Chinese buyers. '

Don't get me wrong. I love landed. Desa Tebrau, SECascadia, Nusa Idaman/HH, But my intention all along for investment (and if all things fail - own stay), is to buy affordable (655psf), accessable (5min to CIQ/RTS), rentable (low entry price), livable, lifestyle (seafront/beach/recreation), property. (Shop house along JWAF JBCC too ex and complicated).

9000 units not for everyone, but at least seafront/beach property appeals to 1 billion others. Hopefully, no shortage of future buyers when I sell. PRC can be a saving grace, if all else fails (Sprns, Mly, S. Kor, Jap, Philpp, Indns, etc) in an overpriced and oversupplied market.

If the reclaimed land turns out to be stable, country garden is actually quite an attractive buy for own stay due to its self-contained concept (probably the best in JB I have seen so far). However do note 9,000 units competing for rental if you are targeting to rent out.

 

[graveyard]

If the reclaimed land turns out to be stable, country garden is actually quite an attractive buy for own stay due to its self-contained concept (probably the best in JB I have seen so far). However do note 9,000 units competing for rental if you are targeting to rent out.

I dont doubt that country garden has done its due diligence and checked the site with civil engineers and.others to.ensure the land is safe to be build on. Call me old fashioned but i still believe in the classical supply and demand which has proven to have worked most of the time except for some abnormal goods. Right now if u do a search on pptyguru for recentlly completted condos like sky executive at bukit indah, there are already quite a lot of listings for units to sell. I can imagine the listing for this project will be overwhelming when its near conpletion