Puteri Cove by RF

[freekazoid]

Salesman of PCove are offering big units at mammoth discount; encouraging me to sign on the dotted line to lock in the price. With the RTS further than anticipated, I don't see the rush.

How massive is the discount? %%%

 

[enjoylife77]

How massive is the discount? %%%

Discount is based on the biggest 4-bedder Layout type - H, 1386 sq ft, high floor, sea view, RM735/psf; total just slightly over RM1 million.

 

[cow138]

That's really cheap. Think this will really impact the resale property of condo in Johor city.
Maybe with the location of the MRT being further away that's way the discount.
Could be a good opportunity to pick some up.

 

[Zelphon]

Discount is based on the biggest 4-bedder Layout type - H, 1386 sq ft, high floor, sea view, RM735/psf; total just slightly over RM1 million.

This is ridiculously cheap !!
Perhaps I should revoke my SPA..

Which block.. Which level??

 

[DCputeri]

Not very good news for earlier buyers of RnF, and other properties in that vicinity.

Discount is based on the biggest 4-bedder Layout type - H, 1386 sq ft, high floor, sea view, RM735/psf; total just slightly over RM1 million.

 

[cslong]

Discount is based on the biggest 4-bedder Layout type - H, 1386 sq ft, high floor, sea view, RM735/psf; total just slightly over RM1 million.

Since when is big discount started? Only for 4 bedder?

 

[RedsYNWA]

That's a decent price for a 4-bedder, though my preference still remains landed property. Way better than the other projects in the vicinity or Danga Bay, if this is true.

 

[cslong]

That's a decent price for a 4-bedder, though my preference still remains landed property. Way better than the other projects in the vicinity or Danga Bay, if this is true.

Yup.... but not sure if this discount is true. Anyone can double confirm this?

 

[wuqi256]

Reopened thread.

CSLong, the TGP team is also marketing this, if you are really keen, please PM. I will ask them to discount for you.
Cheers & peace to all.

 

[enjoylife77]

Since when is big discount started? Only for 4 bedder?

The discounted unit is offered to me as I have expressed interest only in Type H and Type M months ago. I understood from sales team that a few 4-bedder are returned because banks refused loan to buyer. For those interested please approach your R&F sales guy to grab this offer if it is still available.

 

[snowbird]

There were so much hype on this project before the official launch.
Then the massive advertisement on several TV channels in Singapore during the launch.
And when just 2 months after the launch, the sales just fizzles out.
Any project that can only sell only about 40 -50% after so much hullabaloo is considered a flop in marketing terms.
Now, the developer is probably getting a bit of cold feet and need to move the balance units as soon as possible to recover the cost of promotion blitz and also to have a positive financial report card.
Hmmm, seems like delay launch for phase 2 is extremely possible.

 

[snowbird]

3,000 units, 290 shops & 2 office/hotel towers in R&F Phase 1. I think it is fair to assume that regular shuttle services will certainly be provided.
Even if a fee needs to be paid, it will surely be insignificant given the numbers above.

What if more than half of 3,000 unit residents are foreigners and do not stay regularly?
What if half of 290 shops are not occupied and shuttered?
And worse, this may be even a better situation!
The developer should just build homes and forget about commercial spaces altogether.
Here, 290 shops, Country Garden another 300 shops, Tropicana Danga Bay another few hundred shops, another thousand shops in Medini / Puteri Harbour,......and another thousand shops in JB Central new condo developments (Astaka, Vintage Bay, Suasana, etc...
So many shoppers meh????

 

[RedsYNWA]

What if more than half of 3,000 unit residents are foreigners and do not stay regularly?
What if half of 290 shops are not occupied and shuttered?
And worse, this may be even a better situation!
The developer should just build homes and forget about commercial spaces altogether.
Here, 290 shops, Country Garden another 300 shops, Tropicana Danga Bay another few hundred shops, another thousand shops in Medini / Puteri Harbour,......and another thousand shops in JB Central new condo developments (Astaka, Vintage Bay, Suasana, etc...
So many shoppers meh????

It has been proven in other cities that integrated developments help in increasing PSF and property values. Personally I think it is a gd idea, since it is so near the CIQ but the layout of the mall leaves much to be desired in R&F's haste to sell off the commercial space.

I have seen enough mall layout to know what works and what don't. R&F mall layout and the lack of anchor tenant is a no-no in the commercial space industry. If one finds KSL confusing, wait till you see R&F mall. At the very least, KSL was clever enough to get MBO & Tesco in as anchor tenants.

That said, at RM 1 m plus for a 4 bedder, it is still not a bad investment, just that rental is unlikely to cover the loan instalments for some time.

 

[cslong]

It has been proven in other cities that integrated developments help in increasing PSF and property values. Personally I think it is a gd idea, since it is so near the CIQ but the layout of the mall leaves much to be desired in R&F's haste to sell off the commercial space.

I have seen enough mall layout to know what works and what don't. R&F mall layout and the lack of anchor tenant is a no-no in the commercial space industry. If one finds KSL confusing, wait till you see R&F mall. At the very least, KSL was clever enough to get MBO & Tesco in as anchor tenants.

That said, at RM 1 m plus for a 4 bedder, it is still not a bad investment, just that rental is unlikely to cover the loan instalments for some time.

i am unclear of the commercial units at RnF but what you mean is there is no suitable lots (or unit too small) for anchor tenant at their commercial centre?

 

[cslong]

Reopened thread.

CSLong, the TGP team is also marketing this, if you are really keen, please PM. I will ask them to discount for you.
Cheers & peace to all.

Thanks for the info wuqi. Will definitely consider it.

 

[RedsYNWA]

i am unclear of the commercial units at RnF but what you mean is there is no suitable lots (or unit too small) for anchor tenant at their commercial centre?

R&F has split into too many small commercial units, which is not viable commercially. Usually a mall needs at least 1 anchor tenant (usually a supermarket or Departmental store like Metro/Isetan etc). The most successful malls tend to have a supermarket, departmental store, and a cinema, all of which require big spaces.

 

[snowbird]

R&F has split into too many small commercial units, which is not viable commercially. Usually a mall needs at least 1 anchor tenant (usually a supermarket or Departmental store like Metro/Isetan etc). The most successful malls tend to have a supermarket, departmental store, and a cinema, all of which require big spaces.

The shop units here are individual strata titled so every owner has his right to do whatever business there as long it is not restricted.
So you'll see various owners leasing their units out as massage parlor, kopi tiam, hair salon, KTV lounge and another massage parlor, kopi tiam, hair salon, KTV lounge and some more massage parlor, kopi tiam, hair salon, KTV lounge.........
However, if lucky enough, there may be a couple of good restaurants, some clinics and perhaps a supermarket there.
For preview at what this place may look like, pay a visit to the recently refurbished Sentosa Shopping Centre.

 

[cslong]

R&F has split into too many small commercial units, which is not viable commercially. Usually a mall needs at least 1 anchor tenant (usually a supermarket or Departmental store like Metro/Isetan etc). The most successful malls tend to have a supermarket, departmental store, and a cinema, all of which require big spaces.

I have to agree with your point.

 

[malpaso]

The shop units here are individual strata titled so every owner has his right to do whatever business there as long it is not restricted.
So you'll see various owners leasing their units out as massage parlor, kopi tiam, hair salon, KTV lounge and another massage parlor, kopi tiam, hair salon, KTV lounge and some more massage parlor, kopi tiam, hair salon, KTV lounge.........
However, if lucky enough, there may be a couple of good restaurants, some clinics and perhaps a supermarket there.
For preview at what this place may look like, pay a visit to the recently refurbished Sentosa Shopping Centre.

To me, when I see developer selling individual units in a retail mall to the public, my feeling is that they have no confidence that the mall will do well, just buy and dump to the market to sort out. A confident developer will keep their retail units and manage the place , ensuring quality mix of tenants, and of course securing of one or two anchor tenants and / or a cinema , for example. someone correct me if i'm wrong.

 

[RedsYNWA]

To me, when I see developer selling individual units in a retail mall to the public, my feeling is that they have no confidence that the mall will do well, just buy and dump to the market to sort out. A confident developer will keep their retail units and manage the place , ensuring quality mix of tenants, and of course securing of one or two anchor tenants and / or a cinema , for example. someone correct me if i'm wrong.

If R&F is in need of cash, they could have done a sale first, and then sign an overall management leasing agreement with the commercial buyers for a guaranteed yield. It would have enhanced their reputation in Malaysia, as long-term stayers.

Unfortunately, they chose to launch a really weird-shaped mall with multiple small units. Quite disappointing indeed for such a reputable developer in China to adopt a 'buy & dump' attitude.