Puteri Harbour Community

IskandarRocks · May 1, 2015

Some updates from UM land on Waves:

http://www.umland.com.my/Project/33/Waves-@-Puteri-Harbour

Looks like Phase 1 will only be retail.

As per the website:

Development Component :

Phase 1

• Boutique Shops

• Podium Retail Mall

• 2 Levels of Basement

Phase 2

• 2 Blocks of Serviced Apartment

• Multilevel Carparks

Phase 3

• Hotel Tower

Total No. of Unit : 528 serviced apartment units (2 towers)

IskandarRocks · May 1, 2015

cow138 said:
Looks like it's getting better.
But I do have some reservations about the cause quality especially if it's cheap. With the increased building costs, developers will be under pressure to cut corners.

Not necessarily.

I did not post in the order of launch but in the order of quality. For the above 4, the order was Phase 2, then 3b, phases 4a and 6 were launched around the same time. As I mentioned earlier, depends on the contractors and subcontractors for the specific phase.

UEM should not be under any pressure to cut costs. For East Ledang they follow a pretty standard pricing formula. For example, phase 4a the priced land at rm 100 psf and add BUA at around rm 600 psf. So far a 5162 sft bungalow with around 9000 sft land, the price was around 4m. And that more than covers their cost and gives them a hefty profit, given they got the land practically for free. They also make a lot of money from land sales.

Don't believe me, read their financials:

http://www.insage.com.my/ir/cmn/dow...058000013554&sReportType=QR&sCompanyCode=UEMS

They made 272m after tax on a sales of 1.3b. That's more than 20% margin. This was just the last 3 months of 2014.

I don't think cost is an issue for these guys. It is more around the competency and more importantly integrity of the people at the ground level that manage the projects.

Funniman · May 1, 2015

cow138 said:
Looks like it's getting better.
But I do have some reservations about the cause quality especially if it's cheap. With the increased building costs, developers will be under pressure to cut corners.

I have a Sime Darby house which is defective from leaky roofs to burnt wires, not to mention cracked delaminated floor tiles. Sime Darby has plenty of money but their sub contractors suck big time. Sometime the bigger the developer is, the more beauracratic it becomes. It just loses control.

Manhattan · May 1, 2015

Anyone has experience with houses built by sunway? Since the houses are built by their own subsidiary sunway construction, furnishing parts also supplied by their own subsidiary, their quality should be good right?
And they always say that they will operate the commercial units within the development and will stay long beyond development phase, gives people kind of more confidence that they will make sure the quality is there.

PuteriWorld · May 2, 2015

I expect lelong sales for their Citrine units as most ( if not all ) buyers are Malaysians who pay RM 0 to own a unit there. Imagine their salary of RM 2000-RM 3000 / month do you think its sufficient to cover the RM 4000-RM5000 per month for instalment / quit rents and tax etc? But in the long term of 10-20 years it should be ideal for own use/stay as its cheap. I was offered RM 530 psf for their condo but just wasn't too tempted with a 129 year lease given the precarious market situation we are in.

Manhattan said:
Anyone has experience with houses built by sunway? Since the houses are built by their own subsidiary sunway construction, furnishing parts also supplied by their own subsidiary, their quality should be good right?
And they always say that they will operate the commercial units within the development and will stay long beyond development phase, gives people kind of more confidence that they will make sure the quality is there.

joequek · May 2, 2015

PuteriWorld said:
I expect lelong sales for their Citrine units as most ( if not all ) buyers are Malaysians who pay RM 0 to own a unit there. Imagine their salary of RM 2000-RM 3000 / month do you think its sufficient to cover the RM 4000-RM5000 per month for instalment / quit rents and tax etc? But in the long term of 10-20 years it should be ideal for own use/stay as its cheap. I was offered RM 530 psf for their condo but just wasn't too tempted with a 129 year lease given the precarious market situation we are in.

I think the quality of sunway's project should be good quality and they have good reputation,they have alots of follower from KL.

Funniman · May 2, 2015

joequek said:
I think the quality of sunway's project should be good quality and they have good reputation,they have alots of follower from KL.

I stay in USJ which is 10 minutes from Bandar Sunway.
They are ok and reputable. Not super high class but acceptable quality. Being Sunway, they are known not being too greedy and ambitious. They prefer to be long term developers. So do not expect them to build everything at one go even though it has a grand masterplan.

joequek · May 2, 2015

1 of my friend bought citrine appt from sunway, I went to their buyer appreciation day. The director spoke on a big screen, she mentioned what she is going to develop in sunway iskandar, theme park,sunway international school and commercial shop and offices. She seem like know how to bring in the population, most importantly they are here to build and managed .

joequek · May 2, 2015

Funniman said:
I stay in USJ which is 10 minutes from Bandar Sunway.
They are ok and reputable. Not super high class but acceptable quality. Being Sunway, they are known not being too greedy and ambitious. They prefer to be long term developers. So do not expect them to build everything at one go even though it has a grand masterplan.

They intro me to lease their shop below citrine offices, rm 8 per sqft. Anybody interested?

cow138 · May 2, 2015

Was the speaker Serena Cheah?
The daughter of the Sunway founder?
Looks like the group is quite serious about long term development. They also seem to have a very good understanding of the dynamic of the buyers in Malaysia and singapore.
Quite impressive.
Not too sure about the quality though.

Manhattan · May 2, 2015

joequek said:
They intro me to lease their shop below citrine offices, rm 8 per sqft. Anybody interested?

That will be rm4000 per month for a 500 sqft shop space. Looks reasonable if one is to run a fast food or mid range restaurant catering to office staff, students and staff of sunway international school. Those are rich kids so should be able to afford eating at a restaurant. Expect to be quiet over the weekend though, unless the citrine residences are fully occupied.

How much is puteri harbor charging?

joequek · May 2, 2015

cow138 said:
Was the speaker Serena Cheah?
The daughter of the Sunway founder?
Looks like the group is quite serious about long term development. They also seem to have a very good understanding of the dynamic of the buyers in Malaysia and singapore.
Quite impressive.
Not too sure about the quality though.

Yes, Serena cheap.

joequek · May 2, 2015

Sorry Serena cheah

PuteriWorld · May 2, 2015

http://www.pacificstargrp.com/newsl...m_of_vast_potential_FINAL_April2015_Issue.pdf

Not sure if you guys can read this. I don't usually agree with so-called experts when they write articles, be it property "experts" or bank experts etc.

But I have to agree with what they have written. PH is a 70-80% discount off Sentosa and somemore freehold. This is gota be exciting when everything is up and running. Every home-owners of PH I spoke to are very excited over their future homes.

kaliumchloride · May 2, 2015

PuteriWorld said:
http://www.pacificstargrp.com/newsl...m_of_vast_potential_FINAL_April2015_Issue.pdf

Not sure if you guys can read this. I don't usually agree with so-called experts when they write articles, be it property "experts" or bank experts etc.

But I have to agree with what they have written. PH is a 70-80% discount off Sentosa and somemore freehold. This is gota be exciting when everything is up and running. Every home-owners of PH I spoke to are very excited over their future homes.

Can't agree more especially the phrase PH is home away from home, can't wait to have a place there hopefully 2016 !!!

IskandarRocks · May 2, 2015

Pacific Star is the company that launched Puteri Cove, if I am not mistaken.

Funniman · May 2, 2015

IskandarRocks said:
Pacific Star is the company that launched Puteri Cove, if I am not mistaken.

By the time Putri Cove is up and running, the outlets at Puteri harbour would already been established as the main chill out area. :biggrin:

IskandarRocks · May 3, 2015

FB Group for Future Residents and in general those interested in Puteri Harbour ......

https://www.facebook.com/groups/1589857054631772/

cow138 · May 3, 2015

kaliumchloride said:
Can't agree more especially the phrase PH is home away from home, can't wait to have a place there hopefully 2016 !!!

Wouldn't it be a bit biased since its from the developer website?
I would say that puteri Harbour or for that matter the entire Iskandar project is still not sure whether it's gonna succeed or not.
To say that it's going to be singapore lite is stretching the imagination.
There are still quite a bit of issues to overcome.

btravelling · May 3, 2015

cow138 said:
Wouldn't it be a bit biased since its from the developer website?
I would say that puteri Harbour or for that matter the entire Iskandar project is still not sure whether it's gonna succeed or not.
To say that it's going to be singapore lite is stretching the imagination.
There are still quite a bit of issues to overcome.

Can you be more specific, what issues and based on what information, please share. I understand this discussion is not only to blindly chear Puteri Harbour and negative facts are valid, so I would like to know what you base this comment on? I see recently lots of discussion on quality, well my friend just moved to a new place in Potong Pasir, when he turns on the oven the fuse trips, only 3 of 4 aircon work, and other issues, so this is what you get for a million+ dollars in Singapore, I will go with Singapore lite as you say and take my chance things will work out fine in the next 10 years.

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