My friend was in China for a week in apr and he told me everywhere was forest city ads. News reported that garden city offered heavily subsidized tour of singapore and jb, including forest city site of course.
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Living in JB 3 (Johore)
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My friend was in China for a week in apr and he told me everywhere was forest city ads. News reported that garden city offered heavily subsidized tour of singapore and jb, including forest city site of course.
WesleyWee
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Wow did a search and found here for staying in Jb. I just booked a condo in Jb at Permas Jaya area. 659sqft. I'm curious if anyone did a purchase at Sovereign Bay Condo. It's by Sanjia group. My Wife and myself both are very worried about the popular belief that Jb properties will not come to fruitation. Anyone has experience about it?
You mean your JB condo will not be completed? In that case its always best to stick with the bestest developers such as UEM, SP Setia, Sunway or Singapore based developers such as Pacific Star
Sovereign Bay was launched in end 2014 and now is mid 2016. The expected VP is 2017. If the project is less than 1/3 completed, it is a warning sign. Below is a news article related to developer's intent to pull out if there is another big buyer.
Sichuan Sanjia in talks to sell its Iskandar site
Chinese developer's move due to stiff competition, weak interest: Sources
The Straits Times - October 4, 2014
By: RENNIE WHANG
A CHINESE developer which has entered the Iskandar market is now looking to sell its site, The Straits Times understands.
The move comes amid a glut of property due for completion by late 2016 or early 2017, and markedly weaker buying interest in the Johor state development zone.
Sichuan Sanjia Real Estate Group had intended to launch the first residential component of its Permas Jaya waterfront site by the end of this year, said market sources.
The project was expected to have a commercial component as well.
But one to two months ago, it suspended some operations related to the Johor development, which is understood to be the firm's first foray outside China.
Sichuan Sanjia did not respond to requests for comment.
It had acquired the 1.64ha freehold site, near the Straits View condominium, for about RM44 million (S$17.2 million) in 2012.
It registered a subsidiary company in Singapore in 2008 and is understood to have scouted for premises here to house its Singapore sales gallery.
Sichuan Sanjia is said to be in talks to sell its freehold site.
"Given that it got a good price for the land, it might not have to sell at a loss," said a source.
"The market in Iskandar has weakened considerably over the past year and there seems to be more policy risks, like the reintroduction of the real property gains tax and tolls, going forward.
"It is starting to realise it missed the boat."
According to its website, the company was established in 1995, and has a registered capital of 118 million yuan (S$24.4 million) and more than 300 staff.
It has about 10 residential and commercial projects under its belt, such as Jincheng Garden and a "Sanjia D9 district".
Property consultants said it is not surprising that a developer has apparently had a change of heart.
"With so many large projects coming up, especially along Danga Bay, like Guangzhou R&F's Princess Cove, Country Gardens Danga Bay and Greenland's project, competition is stiff and buyers are hard to come by nowadays," said Mr Wee Soon Chit, executive director of Landserve in Johor.
Princess Cove is offering 3,000 homes in the first phase alone, with as many as 30,000 units in all.
http://www.stproperty.sg/articles-p...a-in-talks-to-sell-its-iskandar-site/a/183494
How much did you pay for the 659sqft unit since its rm1 million for foreigners? For me personally, if it's a shoebox unit in a foreign land, mite as well don't buy. I want space that spore can't offer me. Just my thoughts.
The developer is still holding on and selling, but VP is pushed back to 2018. There is a good chance that the building will be completed, but do watch out for change in item list, quality issue and defect rectification if the developer wants to cut costs.
Sovereign Bay, Iskandar Malaysia
https://iskandardevelopment.wordpress.com/2015/07/20/sovereign-bay-iskandar-malaysia/
That is 2014 news, maybe things have changed since?
The date is highlighted red, followed by 2nd posting. Actual outcome is unknown, until end 2018 which is the new VP date.
Yep that was 2014, things might have changed and it has.....it's getting worse now.
And it seems you are pretty happy about it.
The progress seems reasonable as of June 2015. Further than that you have to go to the site. The specs are rather high, even as compared to recent Singapore's condominiums. It is certainly outstanding in JB.
Floor Plan Type A
Showroom
Site Progress
Sources: http://www.sovereignbay.com.my/
Floor Plan Type A
Showroom
Site Progress
Sources: http://www.sovereignbay.com.my/
For that price you can get many better options elsewhere.
Progressive payment will encourage developer to complete the projects and collect the money.
Chance of abandoning the project totally will occur if company run into financial problem or buyers are few.
If too worry, just don't complete your purchase. Project like Twin Galaxy already up and ready. Location much better. (I am not agent, don't PM me)
Chance of abandoning the project totally will occur if company run into financial problem or buyers are few.
If too worry, just don't complete your purchase. Project like Twin Galaxy already up and ready. Location much better. (I am not agent, don't PM me)
Have not heard of any U completed projects in iskandar in the last 5-10 years, at least not the well known developers. There were cases of canceled projects where booking fees were returned though.
Today, went to inquire this Sovereign Bay development.
1,099 sf (Common Lift, -18%) 35th flr (RM715k), 17th flr (RM712k)
1,213 sf (Common Lift, -18%) 35th flr (RM789k), 7th flr (RM689k)
1,318 sf (Private Lift, -18%) 27th flr (RM1.014m), 26th flr (RM1.006m)
1,449 sf (Private Lift, -12%) 22nd flr (RM1.117m), 9th flr (RM889k)
All prices after discount.
1,099 sf (Common Lift, -18%) 35th flr (RM715k), 17th flr (RM712k)
1,213 sf (Common Lift, -18%) 35th flr (RM789k), 7th flr (RM689k)
1,318 sf (Private Lift, -18%) 27th flr (RM1.014m), 26th flr (RM1.006m)
1,449 sf (Private Lift, -12%) 22nd flr (RM1.117m), 9th flr (RM889k)
All prices after discount.
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