Country garden @ Danga Bay is Launching Soon

[Tekkun]

Yup.. its commercial.. however.. the main point here.. anything can happened...

If there's already an intention, no amount of rules, agreements or discussion can keep things in check.
Investing in properties is takes a lot acumen especially non residentials, in this case commercial.
I would prefer industrial more.

 

[westman]

If there's already an intention, no amount of rules, agreements or discussion can keep things in check.
Investing in properties is takes a lot acumen especially non residentials, in this case commercial.
I would prefer industrial more.

How do you find the return for industrial?
Have tried residential and commercial.. yet to touch industrial

 

[Tekkun]

How do you find the return for industrial?
Have tried residential and commercial.. yet to touch industrial

Entry price is very high but it is more for long term.
Returns is reasonable but when the quantum is large, you need to go in early for good yields. Over time, the CA would outstrip the yield expectancy.
I find generally, turnover of tenants is low as my tenants are between 5 to 10 years.

I find landed residential rentals too low and troublesome. Since it is already there, so no choice but to rent them out. But I will not buy to let.
I personally do not have experience in commercials. Maybe if there's an opportunity to buy one, I might consider but then again it got to be the best or nothing location wise.

 

[westman]

Entry price is very high but it is more for long term.
Returns is reasonable but when the quantum is large, you need to go in early for good yields. Over time, the CA would outstrip the yield expectancy.
I find generally, turnover of tenants is low as my tenants are between 5 to 10 years.

I find landed residential rentals too low and troublesome. Since it is already there, so no choice but to rent them out. But I will not buy to let.
I personally do not have experience in commercials. Maybe if there's an opportunity to buy one, I might consider but then again it got to be the best or nothing location wise.

Interesting... how's the current yield around Southern Johor for industrial?

 

[Tekkun]

Here you go.. in Chinese

http://focus.cari.com.my/portal.php?mod=view&aid=77930&page=2

It seemed like not only Malaysia has these problems. Singapore also have its own set of problems.

Residents of The Seaview condominium, who sued four parties involved in the development over numerous alleged defects, have hit a snag in their fight for $32 million in damages.

Three defendants - the developer, the architect and the main contractor - are largely off the hook for negligence claims following a landmark ruling on construction liability by the High Court.

In a written judgment on Wednesday, Justice Chan Seng Onn ruled that Mer Vue Developments, a subsidiary of Wheelock Properties; main contractor Tiong Aik Construction; and RSP Architects Planners & Engineers can rely on the independent-contractor defence.

In other words, they can put up a defence against negligence claims on grounds that they are not vicariously liable for the negligent acts of the independent contractors to whom they had delegated work.

Developers have been able to use this defence to absolve themselves of blame for building defects since a seminal ruling in 2005, but this is the first time a court has clarified that the main contractor and architect can also rely on this defence.

However, Tiong Aik and RSP can still be held liable for work not delegated to independent contractors.

The implication is that if the management corporation (MC) of the Amber Road condominium wins its lawsuit, which is due to be heard in July, the amount of damages that the homeowners can get will be limited.

To pursue the negligence claims, the MC will have to go down the chain to sue the sub-contractors responsible for the design or construction of the development.

The fourth defendant, mechanical and electrical engineer Squire Mech, did not rely on this defence.

The ruling does not establish negligence and it has no implications for contractual liabilities.

Besides suing all four parties for negligence, the MC had also sued Mer Vue for breach of contract.

But only those who bought units directly from the developer can sue for this. In the current case, original buyers make up a small minority of the residents represented by the MC.

The Seaview, which was completed in 2008, comprises six blocks with a total of 546 units. In a suit filed on behalf of homeowners in 2011, the MC alleged many defects in the common areas, including foul odours, falling concrete and popping swimming pool tiles.

Last July, a hearing started on the preliminary issue of whether Mer Vue, Tiong Aik and RSP could rely on the independent-contractor defence, which is based on the principle that the employer should not be vicariously liable for the negligence of an independent contractor.

In 2005, the Court of Appeal applied this in the context of a developer delegating the duties of design and construction to independent competent contractors.

Mer Vue's lawyer, Mr Christopher Chuah, had argued that the developer had taken care to appoint independent contractors who were professionals. Justice Chan agreed and rejected the MC's arguments that Mer Vue could not use the defence as it had exerted control over the works of Tiong Aik and RSP.

In a statement through its lawyer, Mr Samuel Seow, the MC said it was disappointed with the decision and is discussing its options with its legal team, including the filing of an expedited appeal.

http://www.straitstimes.com/singapo...rce=Facebook&link_time=1458263212#xtor=CS1-10

 

[westman]

It seemed like not only Malaysia has these problems. Singapore also have its own set of problems.

Residents of The Seaview condominium, who sued four parties involved in the development over numerous alleged defects, have hit a snag in their fight for $32 million in damages.

Three defendants - the developer, the architect and the main contractor - are largely off the hook for negligence claims following a landmark ruling on construction liability by the High Court.

In a written judgment on Wednesday, Justice Chan Seng Onn ruled that Mer Vue Developments, a subsidiary of Wheelock Properties; main contractor Tiong Aik Construction; and RSP Architects Planners & Engineers can rely on the independent-contractor defence.

In other words, they can put up a defence against negligence claims on grounds that they are not vicariously liable for the negligent acts of the independent contractors to whom they had delegated work.

Developers have been able to use this defence to absolve themselves of blame for building defects since a seminal ruling in 2005, but this is the first time a court has clarified that the main contractor and architect can also rely on this defence.

However, Tiong Aik and RSP can still be held liable for work not delegated to independent contractors.

The implication is that if the management corporation (MC) of the Amber Road condominium wins its lawsuit, which is due to be heard in July, the amount of damages that the homeowners can get will be limited.

To pursue the negligence claims, the MC will have to go down the chain to sue the sub-contractors responsible for the design or construction of the development.

The fourth defendant, mechanical and electrical engineer Squire Mech, did not rely on this defence.

The ruling does not establish negligence and it has no implications for contractual liabilities.

Besides suing all four parties for negligence, the MC had also sued Mer Vue for breach of contract.

But only those who bought units directly from the developer can sue for this. In the current case, original buyers make up a small minority of the residents represented by the MC.

The Seaview, which was completed in 2008, comprises six blocks with a total of 546 units. In a suit filed on behalf of homeowners in 2011, the MC alleged many defects in the common areas, including foul odours, falling concrete and popping swimming pool tiles.

Last July, a hearing started on the preliminary issue of whether Mer Vue, Tiong Aik and RSP could rely on the independent-contractor defence, which is based on the principle that the employer should not be vicariously liable for the negligence of an independent contractor.

In 2005, the Court of Appeal applied this in the context of a developer delegating the duties of design and construction to independent competent contractors.

Mer Vue's lawyer, Mr Christopher Chuah, had argued that the developer had taken care to appoint independent contractors who were professionals. Justice Chan agreed and rejected the MC's arguments that Mer Vue could not use the defence as it had exerted control over the works of Tiong Aik and RSP.

In a statement through its lawyer, Mr Samuel Seow, the MC said it was disappointed with the decision and is discussing its options with its legal team, including the filing of an expedited appeal.

http://www.straitstimes.com/singapo...rce=Facebook&link_time=1458263212#xtor=CS1-10

Aiyo..relax... I already said in my earlier email lo... "ALL" developers will care for their pocket...be it in MY, SG or any where

My apology if I have make you feel the "
Malaysia is lousy".

 

[Tekkun]

Interesting... how's the current yield around Southern Johor for industrial?

No, I have not vested in any industrial Southern Johor.
I did have a few invitations from the likes of Tiong Nam but I find the prices a wee bit too high.
One should not buy blindly and hope for any tenants to come by. Research on the supporting industries is important.
I dropped by the industrial estate near Gelang Patah, I think that was good. Not sure of the rentals though.
In Klang Valley where I am based, rentals is pretty consistent. Yield is about 5% for new builds. You always calculate based on current market value. CA is a separate bonus altogether.

 

[Tekkun]

Aiyo..relax... I already said in my earlier email lo... "ALL" developers will care for their pocket...be it in MY, SG or any where

My apology if I have make you feel the "
Malaysia is lousy".

No worries. I never doubt Malaysia is lousy. I have been to many parts of the world, I know where we stand.

 

[Manhattan]

Have any of you seen the development of the danga bay recently? My goodness, if you think the new HDB in sg is packed like sardines, wait till you see country garden. They simply don't understand that it is very uncomfortable to stay in such packed apartment blocks, especially in tropical countries like ours. And imagine if due to good fortune they are fully occupied and every unit has 1 or 2 cars, thinking of the jam itself can make you shiver.

 

[mpan12]

Have any of you seen the development of the danga bay recently? My goodness, if you think the new HDB in sg is packed like sardines, wait till you see country garden. They simply don't understand that it is very uncomfortable to stay in such packed apartment blocks, especially in tropical countries like ours. And imagine if due to good fortune they are fully occupied and every unit has 1 or 2 cars, thinking of the jam itself can make you shiver.

There are many pictures circulating around the internet on its construction progress. Yup. It's ridiculous. But if you think about it, 9,000 crazy units built around one another. It has to be sardine-packed.

Don't worry about the jam. My guess is it will be a ghost town. Who buys these lego blocks to live inside? Local Malaysians? Don't think there are many. I think more like China Chinese who want to "wash their money" and blinded Singaporeans who rushed to buy in 2013. CG don't even dare to release the REAL sales statistics. Last I heard, maybe only 2/3 sold.

The Johor Sultan is a self-proclaimed businessman. Whether he and his urban planners in Johor use their brains to think, I don't know. But I do know they love to sell their land for $$$ as long as there are willing developers coming in to build anything they want. Hence, the huge oversupply of residential properties coming up in Iskandar.

Next stop....Forest City, anyone?

 

[winners]

They flood the world with their "Made in China" goods and now they are flooding JB with their condos. The Chinks are a bunch of scums.

Don't forget also, Forest City will have numerous landed properties in their master plan, not solely condos.

And now with Brexit, I believe things are going to be even more uncertain for the world economies for the next 2 to 3 years at least.

 

[sgcount]

Love it or hate it... You got to give it to the China developer for being able to build such a gigantic project in such a short time!

Now it remains to be seen how the whole thing will take off once it's completed. The picture shows the condos very packed next to each other.


Friday, 26 August 2016

Multi-billion ringgit project on track

BY KATHLEEN ANN KILI

JOHOR BARU: The development of the multi-billion ringgit Country Garden @ Danga Bay project is on track with 9,000 condominium units and a shopping plaza set to be completed and ready for handover by next year.

Country Garden Malaysia regional director Jason Fu said that Country Garden @ Danga Bay has achieved a number of notable achievements.

He said it was among the first turnkey project to introduce high quality facilities, including a 70,000 sq ft Phoenix club, theme mall, infinity pool and a marina.

“With the investment in these facilities, owners can enjoy the experience of five-star quality home life of the future,” he said during the third anniversary celebration of the Country Garden @ Danga Bay launch.

Fu also noted that more than 20 famous businesses were located within the commercial section of Country Garden @ Danga Bay, including popular international chain stores such as Starbucks.

Meanwhile, Country Garden @ Danga Bay Project Department deputy general manager Michael Lu said the company was looking forward to continue producing high quality houses and providing excellent services to its customers around the world.

He added that currently, the Country Garden Group in Malaysia has successfully developed three major projects including the Danga Bay project launched in 2013, Semenyih Diamond City project in Kuala Lumpur launched in 2014 and the Forest City project launched in Gelang Patah, Johor in 2016.

To celebrate its third anniversary, Country Garden Danga Bay held a three-day thanksgiving promotion sale, from Aug 12 to Aug 14, and gave out free gifts comprising household appliances that attracted a large number of participants.

Along with Fu, Lu and the project’s marketing general manager Easson Qian, hundreds of owners and their guests attended the celebration, enjoying several dance performances and winning lucky draw prizes.

The project, which was launched and commenced in 2013, is located on a 23.06ha sea-fronting parcel of land with a gross development value of RM18bil.

Danga Bay is part of the ambitious multi-billion ringgit Iskandar Malaysia project aimed at transforming South Johor into an international metropolis by 2025.

http://www.thestar.com.my/metro/com...es-9000-condominium-units-and-a-shopping-pla/

 

[Tekkun]

They flood the world with their "Made in China" goods and now they are flooding JB with their condos. The Chinks are a bunch of scums.

Don't forget also, Forest City will have numerous landed properties in their master plan, not solely condos.

And now with Brexit, I believe things are going to be even more uncertain for the world economies for the next 2 to 3 years at least.

One can swear and call them all sorts of names, the fact remained the Chinese are like tsunami. Nothing is going to stop them. They will just come and swarm all over JB. And one of the catalyst is to get someone to fast track developing Johore.

Will JB be better off with these Chinese developments or one prefer JB to be in the back waters and remain under developed compared to its neighbour? That's the main question. And I think the Sultan already answered that.

 

[Frodo]

One can swear and call them all sorts of names, the fact remained the Chinese are like tsunami. Nothing is going to stop them. They will just come and swarm all over JB. And one of the catalyst is to get someone to fast track developing Johore.

Will JB be better off with these Chinese developments or one prefer JB to be in the back waters and remain under developed compared to its neighbour? That's the main question. And I think the Sultan already answered that.

If you can't beat 'em, join 'em!

Go with the flow and enjoy the ride.

 

[Manhattan]

I can only wish them success, I am just too afraid to think about what will happened to that place if abandoned half way. On the other hand, as a layman, I just couldn't comprehend how can it be successful? No public transport, pack 77 towers of 30-40 storey blocks, access via a single highway. There will be at least 22000 cars in that small area, what kind of nighmare will it be during peak hours? Supposed people are crazy enough to want to live like sardines when there are plenty of space elsewhere and it got fully populated. At nearby sunway iskandar, the plot ratio is only 1.

 

[mpan12]

No need to worry about the traffic. Quite likely, it won't be half occupied. Many buyers are from China. I'm not sure if they buy to re-settle in JB? Or is to "wash money".

Heard before CG was marketed in SG and Malaysia, the developer gave their own China buyers something like Buy 1, Get 1 free. Many flipped at extra RM50k or even more for the high floor "sea view" units. Surprisingly, many Singaporeans bit the bait and bought them. Who to rent to, sell to next time? If buy to retire there, isn't it worse than staying in a HDB flat?

I can only wish them success, I am just too afraid to think about what will happened to that place if abandoned half way. On the other hand, as a layman, I just couldn't comprehend how can it be successful? No public transport, pack 77 towers of 30-40 storey blocks, access via a single highway. There will be at least 22000 cars in that small area, what kind of nighmare will it be during peak hours? Supposed people are crazy enough to want to live like sardines when there are plenty of space elsewhere and it got fully populated. At nearby sunway iskandar, the plot ratio is only 1.

 

[Tekkun]

No need to worry about the traffic. Quite likely, it won't be half occupied. Many buyers are from China. I'm not sure if they buy to re-settle in JB? Or is to "wash money".

Heard before CG was marketed in SG and Malaysia, the developer gave their own China buyers something like Buy 1, Get 1 free. Many flipped at extra RM50k or even more for the high floor "sea view" units. Surprisingly, many Singaporeans bit the bait and bought them. Who to rent to, sell to next time? If buy to retire there, isn't it worse than staying in a HDB flat?

http://www.thestar.com.my/news/nation/2013/10/05/developer-buy-one-free-one/

JOHOR BARU: China-based property developer Country Garden has rubbished claims that the company was giving out "buy one get one free" deals to buyers from China who purchase one of their units.

 

[Relaxman]

No need to worry about the traffic. Quite likely, it won't be half occupied. Many buyers are from China. I'm not sure if they buy to re-settle in JB? Or is to "wash money".

Heard before CG was marketed in SG and Malaysia, the developer gave their own China buyers something like Buy 1, Get 1 free. Many flipped at extra RM50k or even more for the high floor "sea view" units. Surprisingly, many Singaporeans bit the bait and bought them. Who to rent to, sell to next time? If buy to retire there, isn't it worse than staying in a HDB flat?

Not that bad la. If singaporean buy for retirement, i think is good. Seaview, great facilities, high class and safe. Really not a bad idea.

 

[mpan12]

Ok la. As long as the buyer is happy.

 

[rotikok]

I can only wish them success, I am just too afraid to think about what will happened to that place if abandoned half way. On the other hand, as a layman, I just couldn't comprehend how can it be successful? No public transport, pack 77 towers of 30-40 storey blocks, access via a single highway. There will be at least 22000 cars in that small area, what kind of nighmare will it be during peak hours? Supposed people are crazy enough to want to live like sardines when there are plenty of space elsewhere and it got fully populated. At nearby sunway iskandar, the plot ratio is only 1.

No need to worry about the traffic. Quite likely, it won't be half occupied. Many buyers are from China. I'm not sure if they buy to re-settle in JB?

Who to rent to, sell to next time? If buy to retire there, isn't it worse than staying in a HDB flat?

I agreed, future public transport route still not yet drawn, and they are like building as if the whole system already completed to allow each day double the amount of ppl to and fro to singapore. One of the thing buyers bet on is future public transport, suay suay dint pass thru, every buyers there will be rugi. But again, price will be different when everything on place....eg see bukit indah ppty price before and after coastal highway.

Demand will shift tremendously if everything in place...but malaysia executing ability, 30 yrs also dunno got chance or not. Buy now also dunno who to sell or rent to.