I am just wondering how credible is SP Setia's claim that Sky 88 is 'fully sold'. From what I remember, they were taking RM 10K Cheque as pre-booking. Out of this RM9K was refundable in case the buyer backs out. Also, some of the forumers have credibly claimed that, legally, they have to refund the full amount. The signing of S&P is in October, I believe, and thats when the so called current 'buyers' have to make the full commitment.
Encorp Marina did something similar last year, they took cheques for SGD 3000 as pre-booking. Based on what the agent told me, around 70% did not end up signing the S&P agreement and took a refund. Agreed, the % may not be so high for a SP Setia project since they are a much more solid brand than Encorp, but to me, the project is still far from being 'sold out'.
It seems to me that if the entry and exit commitments are low, lot of people sign up to block a unit and make a firm decision later.