Malaysia Real Estate

[snoop]

BUYERS BEWARE!!

Work on this project has stopped for the last 5 months. So far the land has been cleared and some foundation work has been done... but nothing more thereafter. Shrubs and trees are starting to grow over the cleared land.

Some background reasons:

Upon visiting the sales office some months ago in view of buying a unit there, I started to develop a suspicious feelings about the viability of this project. This is not limited to the high price (min 800K) and high monthly maintenance charges (about 1K per month). The unjustifiable price has even driven MKland to offer some discounts ... to no avail as it remains overpriced for its location, density etc, and hence the sales are just not being concluded.

But there are several other factors. Consider the following:

- Part of the structure is planned to be built on a slope with a greater-than-45-degree gradient. Many potential buyers somehow overlook this detail. I noticed it on the display model and went to visit the actual site. It is scary!! I'm no expert but from the looks of things, the building seems prone to the destructive effects of some future natural calamity.

- Armanee Terrace II will have no club facilities of its own and residents are expected to share facilities with AT I (the clubhouse of AT 1 is a distant walk away). The price does not justify this big compromise and sales personnel tend to leave out this detail when trying to sell units. It lists all the facilities in its brochure with no mention that these facilities are actually existing facilities attached to the existing block/ phase. AT II only has its own swimming pool - nothing else.

- Inside sources reveal that the site is actually former burial grounds of indigenous communities. This "rumour" is apparently common knowledge among insiders to the project who have been instructed not to let it leak out - in fear that it will impede sales. However I have since heard the same "rumour" from several people who live around the area. Apparently the neighbouring forest is also now home to an immigrant and thriving (albeit illegal) Flores population from Indonesia.

- Contractors and workers have succumbed to muggings by the squatters living on the grounds of the site and its surroundings.

- AT 1 residence have had endless complaints of shoddy work on their condo units. They have set up an active residents' committee to voice their grouses. One major gripe was that the end product that they received from the developer bore no reflection of the portrayed value of the development and the price. At least AT 1 was significantly cheaper!!

I find buying AT II would be a very bad investment decision. Incidentally, sales are extremely slow. Despite being launched in May 2005, less than 20% of its 518 units are sold. In all likelihood it may end up an abandoned project.

Another project by MK Land - Metropolitan Square - had one phase where sales were poor. That phase is being abandoned and it is promised that current buyers will be refunded.

[mudtel]

Great observations ..

I visited AT 1 sales office back in 2003 ..but didnt invest in one because of suspicion in the developer sales tactics also.

This developer is pushing up prices, not because of demand or value. It is artificial.

The worst thing, with the price you are paying, the area is not exclusive - there are many low cost developments surrounding the area - a compromise MK Land needs to make to get the land.

Not to rub the salt on the wound of the current buyers of AT 1, these issues are compounded by shoddy and low quality finishes. The artist impressions were really nice and I almost tempted.

Thank god ...

Sigh ... i am still looking for a place after 3 years searching. Anyone got any idea ....buying a prop for own stay is really a heavy decision. For investment, it is a different story? I am lost ...

[jt69]

Armanee Terrace II by MKLand also the developer for Milan right ? Would the construction be affected too ? Highly appreciate some info.

Mudtel, I am also looking for a place for the last few years. Only problem is I am working in China now and dont really know where would be the best place to buy. Currently I am looking at Villa Wangsamas at Wangsa Maju Setapak. Though comments were make on traffic jam but I am more interested in the location where it is near to KLCC...me city person lah.

Should you come across any fantastic developement, do let me know..

Thanks
JT

[NumberTWO]

basically MKL is the sole developer of Dmnsara Perdana where Milan is situated... But is far from town so don't think it suits u ..

[jt69]

No2, Milan is purchased by a good friend residing in Shanghai. Was a bit concern when read about Armanee Terrace II.

I am thinking of Wangsavillamas at Wangsa Maju/Setapak. Any comments on this?

[Sterterder5]

superb!
..nencyalba.info/beastiality/51866

[Abadedsterder5]

check this too
..huge-cock-inside-carmen-electra.info/blog/comments/51866
regards, Abadedsterder5

[T-1001]

[T-1001]