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Puteri Harbour Community

Discussion in 'A Singaporean's guide to Living In JB' started by Qube3, Mar 10, 2012.

  1. Qube3

    Qube3 Alfrescian Old Timer

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    Hi All,

    Thought I'd start a new thread due for Puteri Harbour owners / investors....and upcoming future launches in this area....

    So far we have

    Somerset Puteri Harbour
    - Dfiris
    - streams
    - SPH07
    - quartz28
    - Qube3
    - ehkyang

    Imperia Puteri Harbour
    - Iskandar Rocks
     
  2. Qube3

    Qube3 Alfrescian Old Timer

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    Was at the Encorp Marina "launch" this afternoon held at Marriott Hotel.

    Sales agent was saying about 20-30% sold for the 1st block. Pricing was on the high side - from MYR900+psf.

    They launched in Jakarta last week.

    Any bros here vested?
     
    Last edited: Mar 10, 2012
  3. Investor

    Investor Alfrescian (Inf)

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    Hi Qube3,
    How much per sf is Somerset?
     
  4. Qube3

    Qube3 Alfrescian Old Timer

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    RM800-900psf, fully furnished...
     
  5. Investor

    Investor Alfrescian (Inf)

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    Fully furnished? That's nice.
    Encorp looks nice too. I just saw it's video

     
    Last edited: Mar 10, 2012
  6. Investor

    Investor Alfrescian (Inf)

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    May I know what's the monthly maintenance fee in terms of psf for Somerset?
     
  7. Investor

    Investor Alfrescian (Inf)

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    Hi everyone who've bought Imperia, Somerset or Encorp marina.

    Care to share how you guys got to know about the above projects and their launches?
    I'm just curious as to whether the marketing agencies advertised to public or they managed to sell with just private invitation/launch?
     
  8. euphony

    euphony Alfrescian Old Timer

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    +1! if encorp keeps the facade as is, JB will finally have a condo that is starting to give sg/kl designs a run for their $$$ and end the utilitarian boxy spiel we're so used to seeing in JB (very government housing). when projects like keppel reflections by DL, interlace by OMA and troika by foster - level reaches PH, that would really lift the veil of the state and take it into the next level.
     
  9. IskandarRocks

    IskandarRocks Alfrescian Old Timer

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    Imperia - east ledang sales lady - no advertising that I know of, other than a half page very vague ad in straits times. No online ads. They have Facebook page. This one pretty much went through word of mouth as they started taking reservations free of charge since long time back.

    Somerset - news article last year

    Encorp - Full page ad on Straits Times, perhaps the most publicised of the three

    Cheers,
    IR
     
  10. Investor

    Investor Alfrescian (Inf)

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    Thanks again for your info IR(made me feel so ignorant :p haha).
    I see that Encorp Marina has many facilities and they have pool decks on at least 4 different levels. Good quality of life if one were to live there.
     
  11. Dfiris

    Dfiris Alfrescian Old Timer

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    My family friend who is more on has been on the lookout for SPH since he saw the new in Oct 2011 about Somerset signing a deal to manage SPH. He quickly findout that one of the joint developers is UMland which Capitaland has shareholdings.

    Next came to his mind is marketing agent NSGlobal (former Uber group). He quickly contacted them and manage to be on their VVIP list. He managed to pick 3 good units at about RM750psf.
     
  12. relaxmannn

    relaxmannn Alfrescian Old Timer

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    - Relaxmannn


    Hi Qube3, is somerset fully sold by now?
    I heard the GRR is very attractive, would like to get one if available.
    Anyone care to share more on somerset?
     
  13. Dfiris

    Dfiris Alfrescian Old Timer

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    Its a 100% soldout project. Got to wait for it to be completed befofe anyone will sell it on the secondary market.
     
  14. Qube3

    Qube3 Alfrescian Old Timer

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    Hi Relaxmannn,

    I believe it is fully sold out, last I heard was that 12 units were launched in KL after all the allocated ones for Singapore were sold out.

    Not sure about the 12 units, however guys in the forum mentioned that it was sold as a block, perhaps to Ascott themselves?!

    The GRR is ok for me, as it is a cashflow positive investment, at least for the 1st two years. Min guaranteed 5%. This is a profit/loss share investment so really it is a specuvesting buy and you would have to do your own sums, take a big leap of faith and hope for the best.

    The biggest risk for me is the execution of Iskandar itself. Glad to see the article in the Singapore Business Times on Saturday from PM Najib gearing for Singapore SMEs to come over. If the execution is good, I think Iskandar has much room to grow. Let's get the Malaysian General Election over and done with first.....

    See also various postings from the other thread of "New Developments to Share" - quite a bit of SPH was discussed there.
     
  15. Qube3

    Qube3 Alfrescian Old Timer

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    Good question. There isn't any, and I may be wrong. As I understand it, this is a fully profit/loss sharing agreement between individual owners and Ascott (via the so-called Trustee company) hence the maintenance costs of SPH isn't directly comparable to a GRR scheme where profit/loss fully accrues to the serviced mangement company.

    Given that this is a compulsory leaseback agreement and that Ascott themselves are tied into managing this for 10 years the maintenance is actually part of the operating costs of Ascott that is deducted prior to arriving at the profit / loss share which in turn is then attributed to the individual owner investors.

    I suppose if, and this remains an if, the block reverts to its owners one day i.e. that an MCST Committee will be formed and that the average I would expect is circa RM0.35 - 0.40psf/month (on today's terms), probably same as the other serviced residences.
     
  16. SPH07

    SPH07 Alfrescian Old Timer

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    Business Times Article dated 10 March 2012

    Najib rolls out the red carpet for S'pore SMEs

    Iskandar Malaysia to beef up security, improve transport links to draw S'pore businesses

    By MALMINDERJIT SINGH
    IN JOHOR BARU

    ISKANDAR Malaysia will court small and medium-sized enterprises (SMEs) in Singapore struggling with high rental and other business costs to establish some or all of their operations there. To help achieve this aim, Malaysian Prime Minister Najib Razak yesterday announced new initiatives to ease concerns about the security and accessibility of the economic region.

    MR NAJIB
    Announced investment of RM24.5 billion to improve conditions in the Iskandar development region

    Mr Najib announced an investment of RM24.5 billion (S$10.2 billion) to improve conditions in the Iskandar development region as well as the rest of southern Johor through 32 projects in three key areas: security, public transport, and physical outlook and infrastructure. According to Ismail Ibrahim, chief executive of the Iskandar Regional Development Authority (IRDA), these initiatives will be used to attract more Singaporeans, particularly SMEs, to Iskandar.

    'We will very much look towards Singapore businesses to come here, and this interest is already happening as I have regular contact with the business community in Singapore and whenever I have any discussions, I will consult them,' Mr Ismail said.

    He said Iskandar Malaysia would be looking towards attracting businesses that operate within the region's designated economic growth sectors and those that can create skilled jobs and add value to the wider Johor economy. The nine sectors that have been identified as instrumental in catalysing growth for the Iskandar region are: education; tourism; logistics; creative industries; petrochemicals; polychemicals; electronics and electrical engineering; food and agro processing; and healthcare.

    Speaking to BT, Mr Ismail noted that with these 32 projects in the pipeline, Iskandar Malaysia could become an attractive destination for SMEs from Singapore, with the cost advantages thrown in. Many SMEs coming into Iskandar Malaysia have already done their sums, but he didn't rule out more sweeteners in the future. 'Any incentives rolled out in the future will be a bonus,' he said.

    Mr Ismail explained that from consultations with Singapore businesses, their concerns about the Iskandar region centred around the location, connectivity, infrastructure and security of the place - concerns that he feels have been addressed by Mr Najib's announcement yesterday.

    'To improve access to Iskandar Malaysia, we need to ensure that infrastructure is built. If we don't improve connectivity, in 2-3 years, we may face problems for the movement of people and goods from Singapore to Iskandar Malaysia,' he said.

    Mr Ismail added that the Rapid Transit System (RTS) was an example of how both governments saw a need for greater connectivity. 'We are targeting the RTS for 2018, probably by developing a tunnel. The RTS could either happen by rail, road or a combination of the two.'

    Mr Najib said that the quality and capacity of the public bus system would be improved and there would be better roads to drive on. There would be an integrated terminal and ticketing system for public transport. The taxi industry would be reformed.

    This will be followed by other more innovative measures including establishing a domestic rapid rail and water taxi system by 2020, which will involve redeveloping key river routes in the region.

    Mr Ismail acknowledged that security is a concern for Singaporeans and so measures have been rolled out to ease these worries. 'In order to ensure that this region can offer an attractive environment for business and investment, we need to look very closely at matters regarding safety and security,' he said.

    Adding that a security blueprint with 40 measures had been developed, he pointed out that the crime rate in Iskandar Malaysia had fallen - last year's crime index showed that the crime figures for the region were lower than the national average.

    Nevertheless, he pointed out that out of the 32 projects announced by Mr Najib, up to 10 were specific to addressing security concerns. These include an integrated CCTV system and 138 community police posts to be set up by 2020 across Iskandar Malaysia, closer coordination among enforcement agencies and crime prevention programmes.

    'An estimated RM14.2 billion, or 58 per cent, of the total investment for these projects (RM24.5 billion) will be fulfilled using public funds, while the remaining RM10.3 billion or 42 per cent, will be contributed by the private sector,' Mr Najib said.

    The prime minister was speaking on a visit to Johor Baru yesterday, where he launched the Iskandar Malaysia Economic Corridor Transformation Programme, a programme that includes 27 Entry Point Projects in the tourism, education, and oil and gas sectors.

    Along with the security, infrastructure and transportation initiatives, the total of 59 projects unveiled by the prime minister yesterday are expected to attract as much as RM139.3 billion in cumulative domestic and foreign investments, while contributing RM25.57 billion to Malaysia's gross national income (GNI) and creating 68,000 jobs by 2020.
     
  17. AllUCan

    AllUCan Alfrescian Old Timer

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    Just to share with u guy that we still need to pay the 4mths maintenance fees during the vacant possession.
    No matter what, non refundable of 3mths deposit shall be hold by developer
    If Somerset take another month to complete, we will need to pay another month of maintenance.
    Also if Somerset sale is negative, all buyer shall bear the cost to them. Somerset is sure win-win.
    We are like employer and Somerset is our employee. Boss don make money but still need to pay salary to employee.
     
  18. quartz28

    quartz28 Alfrescian Old Timer

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    Hi Que..thanks for starting the thread!

    Cheers...Quartz
     
  19. quartz28

    quartz28 Alfrescian Old Timer

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    Hi Investor...I've got a prop from the agency NS Global before (also formerly known as Über Group)...and thus was being introduce to SPH by them in nov/dec before the launch...

    Cheers...Quartz
     
  20. quartz28

    quartz28 Alfrescian Old Timer

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    Hi...thought all the harbour facing and thus best units are being withheld by the developer?...rumour that they are expect them to be able to fetch above 1100psf ...anyone know anything about it?....

    Cheers...Quartz
     

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