Puteri Harbour Community

[IskandarRocks]

Here is a quote from a Credit Suisse report published recently (October 2012) on UEM Land:

"In 2Q12, UEM Land booked a conditional sale of eight acres in Puteri Harbour for RM93 mn to a foreign developer. The identity of the foreign developer has not been announced but we expect response from Singapore would be good if the foreign party is a reputable Singapore developer as we have seen from the launch of Somerset Service Apartments in Puteri Harbour, managed by Ascott (a Singapore developer), which was snapped up (mostly by Singaporeans) at record time."

This is another potential development at PH to look out for.

 

[IskandarRocks]

I had a chat with the UEM Puteri Harbour Sales today. Here is some info on the Teega Tower A launch:

- Friday, they will open to UEM/Sunrise staff & affiliates (these guys will 'sapu' the best units, not necessarily VVIPs)
- Saturday 10.00 AM to 2.00 PM - VVIP - those that have purchased more than RM 3M from UEM/Sunrise. As I understood, Teega Phase 1 purchase does not count.
- Saturday 2.00 PM onwards, rest of the existing UEM/Sunrise purchasers
- Registration will start earlier and this time I was told they will give out queue numbers by ballot
- Sunday open for registrants
- Discount, 15% for 5 star (8M+) buyers and it tapers down (dont remember the details)
- Discount will be applied from 2nd payment onwards, as opposed to 1st payment onwards for the Phase 1 launch. So, if you buy something for RM 1M you will have to pay RM 20K booking fee + RM 80K on signing S&P. As opposed to RM 20K booking + RM 30K at S&P for Phase 1
- Following banks will do the DIBS that includes loan legal fee + loan stamping + interest during construction - Maybank, OCBC, StanC, UOB.
- Additional RM10 psf discount for those who dont opt for DIBS
- Pricing - tower A price is hiked by 15% but NOT sure yet
- There are some units left/canceled from previous launch (Tower B & Serviced Apts) that will be offered as well

All the best to those who are planning to buy this weekend!

 

[Avonup]

Seems like only standard chartered providing dibs..I might be wrong, but I processed mine with them. Anyone knows other bank?

Teega Panel banks are UOB, OCBC, StandChart & MBB.

 

[Philip]

Encorp puteri harbour owners :
Have signed the S and P last sat, bank loan is yet to be approved.
Wife is a Malaysian and trying to get the 90% loan.
I am curious now.
There is supposed to be a 8% rebate, understand that 4% rebate will be offset against the first 10%. So where will the 4% be offset against if I manage to get a 90% loan ?

Thanks in advance for advice.

Teega Panel banks are UOB, OCBC, StandChart & MBB.

 

[Avonup]

Understand discount 12% for 3M- buyers.
Any idea on stamp duty, legal fee. etc? Thanks.

I had a chat with the UEM Puteri Harbour Sales today. Here is some info on the Teega Tower A launch:

- Friday, they will open to UEM/Sunrise staff & affiliates (these guys will 'sapu' the best units, not necessarily VVIPs)
- Saturday 10.00 AM to 2.00 PM - VVIP - those that have purchased more than RM 3M from UEM/Sunrise. As I understood, Teega Phase 1 purchase does not count.
- Saturday 2.00 PM onwards, rest of the existing UEM/Sunrise purchasers
- Registration will start earlier and this time I was told they will give out queue numbers by ballot
- Sunday open for registrants
- Discount, 15% for 5 star (8M+) buyers and it tapers down (dont remember the details)
- Discount will be applied from 2nd payment onwards, as opposed to 1st payment onwards for the Phase 1 launch. So, if you buy something for RM 1M you will have to pay RM 20K booking fee + RM 80K on signing S&P. As opposed to RM 20K booking + RM 30K at S&P for Phase 1
- Following banks will do the DIBS that includes loan legal fee + loan stamping + interest during construction - Maybank, OCBC, StanC, UOB.
- Additional RM10 psf discount for those who dont opt for DIBS
- Pricing - tower A price is hiked by 15% but NOT sure yet
- There are some units left/canceled from previous launch (Tower B & Serviced Apts) that will be offered as well

All the best to those who are planning to buy this weekend!

 

[IskandarRocks]

Understand discount 12% for 3M- buyers.
Any idea on stamp duty, legal fee. etc? Thanks.

They will absorb legal, but not the stamp duty on S&P, as I understand. The stamp duty will be payable in around 4 years or so, not now.

If you opt for DIBS, they will absorb the stamp duty and legal fee on loan - which to my experience turns out be slightly above 1% of the loan amount.

 

[DCputeri]

What is your carpark lot no?

Encorp puteri harbour owners :
Have signed the S and P last sat, bank loan is yet to be approved.
Wife is a Malaysian and trying to get the 90% loan.
I am curious now.
There is supposed to be a 8% rebate, understand that 4% rebate will be offset against the first 10%. So where will the 4% be offset against if I manage to get a 90% loan ?

Thanks in advance for advice.

 

[DCputeri]

No good units left even after the 1st round of sale to the staff.

I had a chat with the UEM Puteri Harbour Sales today. Here is some info on the Teega Tower A launch:

- Friday, they will open to UEM/Sunrise staff & affiliates (these guys will 'sapu' the best units, not necessarily VVIPs)
- Saturday 10.00 AM to 2.00 PM - VVIP - those that have purchased more than RM 3M from UEM/Sunrise. As I understood, Teega Phase 1 purchase does not count.
- Saturday 2.00 PM onwards, rest of the existing UEM/Sunrise purchasers
- Registration will start earlier and this time I was told they will give out queue numbers by ballot
- Sunday open for registrants
- Discount, 15% for 5 star (8M+) buyers and it tapers down (dont remember the details)
- Discount will be applied from 2nd payment onwards, as opposed to 1st payment onwards for the Phase 1 launch. So, if you buy something for RM 1M you will have to pay RM 20K booking fee + RM 80K on signing S&P. As opposed to RM 20K booking + RM 30K at S&P for Phase 1
- Following banks will do the DIBS that includes loan legal fee + loan stamping + interest during construction - Maybank, OCBC, StanC, UOB.
- Additional RM10 psf discount for those who dont opt for DIBS
- Pricing - tower A price is hiked by 15% but NOT sure yet
- There are some units left/canceled from previous launch (Tower B & Serviced Apts) that will be offered as well

All the best to those who are planning to buy this weekend!

 

[Funniman]

No need to waste time. By the time it is open on Sunday, there would only be crumbs. Be happy with what you have now.

The last time, UEM management was not happy that the sales team did not organise the launch properly. There's no difference between VIPs, registrants or walk in. It is like free for all. This time around, they got the marketing team from Sunrise KL to help out.

No good units left even after the 1st round of sale to the staff.

 

[DCputeri]

ASME is also talking to developers to build industrial buildings in iskandar. Property will really boom here.

 

[Funniman]

http://www.international-adviser.com/news/asia/southern-malaysia-sees-influx-of-expats

 

[Dfiris]

What I hope to see booming in JB sentral is the entertainment market to the next level.

Something classier, safe secure and more highend. Will be a good attraction, if private operators n developers can come together and develope a entertainment city which is gated right at main entrance, filtering maybe members only club.

Then inside k have KTV town, Massage Town, F&B etc.

Will be ideal to build at Danga Bay.

 

[JordaneSG]

Hi all,

Can you please help me clarify one thing:
If we sign SPA, then get loan but margin is too low (like 70% instead of 80 or 90 expected) and so have to cancel... What happens?

Developer keep booking cheque,
developer keep 10% deposit
or developer refund and keep admin fee only?

Thanks

 

[Funniman]

Normally once SPA signed, the deposit is deemed paid once the cheque is cleared. How they refund depend on the terms & conditions of the SPA.
However, if you act fast, there might be a chance to save the deposit as a SPA is valid only after it is stamped. So quickly go to the lawyer and ask. You might asked to pay the legal fees only. Maybe you can call up the bank and cancel the cheque.

Hi all,

Can you please help me clarify one thing:
If we sign SPA, then get loan but margin is too low (like 70% instead of 80 or 90 expected) and so have to cancel... What happens?

Developer keep booking cheque,
developer keep 10% deposit
or developer refund and keep admin fee only?

Thanks

 

[Dfiris]

FOR SPA to be unconditional, it needs to clear state consent first. And for projects like this, trust me, it is not on a cases by case basis. They will accumulate one shot submit to Land Office, then pay them some "ang bow" to get the whole lot expedited and approved. Cos they would want to collect progress payments together later on too.

So please expect some wait there before state consent will be approved.

 

[potter]

Hi all,

Can you please help me clarify one thing:
If we sign SPA, then get loan but margin is too low (like 70% instead of 80 or 90 expected) and so have to cancel... What happens?

Developer keep booking cheque,
developer keep 10% deposit
or developer refund and keep admin fee only?

Thanks

Sign e SPA only after you've obtained bank loan. No If this or If tat.

 

[Dfiris]

this is the problem when property gets hot and customers have lower negotiating power. When I buy my Somerset Puteri Harbour, I will make sure all things are listed fown black n white, like the rebates, absorption, etc, including how many % loan approval, like 70% ot 80%. To protect yourself.

But now situation abit different, buyers are more than afraid to lose the units they have queued up for. so ... give and take lar. Not the present situation is different from the past

Sign e SPA only after you've obtained bank loan. No If this or If tat.

 

[Funniman]

Never stretch yourself too thin...sometimes it is just not worth the stress.

this is the problem when property gets hot and customers have lower negotiating power. When I buy my Somerset Puteri Harbour, I will make sure all things are listed fown black n white, like the rebates, absorption, etc, including how many % loan approval, like 70% ot 80%. To protect yourself.

But now situation abit different, buyers are more than afraid to lose the units they have queued up for. so ... give and take lar. Not the present situation is different from the past

 

[Dfiris]

Iskandar Investments Bhd have been approached by Asset Managent companiea and European funds with interest to buy their assets like the universities they have setup in Educity. Finally more of this liquidity are showing interest in Iskandar. Think it investment operandi is working. Can use the proceeds to build more catalytic projects.

chicken n egg problem solved.

 

[teega]

Where do you find this news?

Iskandar Investments Bhd have been approached by Asset Managent companiea and European funds with interest to buy their assets like the universities they have setup in Educity. Finally more of this liquidity are showing interest in Iskandar. Think it investment operandi is working. Can use the proceeds to build more catalytic projects.

chicken n egg problem solved.