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daniel-flavius
Joined: 05 Feb 2007
Posts: 4
Location: KL
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 Posted: Mon Feb 05, 2007 7:29 pm Post subject: Putra Majestik (Jalan Ipoh) - Bioford Development |
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I'm considering a Serviced Apartment in Putra Majestik developed by Bioford Development. Is it a good investment?
I'm also very interested on the differences between a serviced residence and a condo, in terms of utilities price, resell value, resell procedures...
Site still under development:
.://..putramajestik.com
Is it advisable to buy a serviced apartment at this early stage (expected to be ready end of 2008)?
Thanks! |
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rollsroyce
Joined: 20 Oct 2006
Posts: 753
Location: Dagobah System
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daniel-flavius
Joined: 05 Feb 2007
Posts: 4
Location: KL
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| Posted: Fri Feb 09, 2007 2:06 pm Post subject: Contractor is Sara-Timur |
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As an update, I found out the Contractor is Sara-Timur.
.://..sara-timur.com/
| Quote: | Bioford's RM200m Sentul project
ANOTHER mixed development project is coming up in Sentul, Kuala Lumpur - the RM200 million Putra Majestik being undertaken by Bioford Development Sdn Bhd.
"At RM220 per sq ft of freehold status, we're offering value-for-money property to investors," managing director Terry Chean said.
"Just three months ago, we were selling at RM195 per sq ft and now it has gone up to RM220 per sq ft. The value appreciation is good investment but at the same time, it is still competitively priced compared with surrounding developments by big players like Low Yat Group and the YTL group," he said.
The sizes of the apartments at Putra Majestik range from 1,004 sq ft to 1,340 sq ft.
In 2004, Bioford bought a 1.94ha plot in Sentul from Arab-Malaysia Development Bank and now it is developing it in three phases. Eventually, there will be 622 residential units and 43 shop lots on that plot.
Chean was speaking to reporters after signing a RM100 million loan agreement with Sabah Development Bank in Kuala Lumpur over the weekend.
"Construction of the first phase of Putra Majestik started last month and will be completed by January 2009," Chean said, adding that Bioford had awarded the RM99.5 million job to Kuching-based Sara-Timur Sdn Bhd.
Asked if Bioford is looking to expand from its maiden project in Sentul, Chean said, "We're actually negotiating with a landowner in Melawati, Ulu Kelang. We hope to seal the deal by year-end. The 6.8ha land is suitable for 21/2-storey super-link houses."
Meanwhile, Sara-Timur managing director John Loi Hieng Yee said the Sentul job is its springboard into the Peninsular Malaysia market, having established itself in Sarawak and Sabah in the last seven years.
Sara-Timur's current make-up of private and government jobs is 70:30. With the just- announced Budget 2007, Sara-Timur, a mid- sized contractor, is likely to benefit from government contracts to build police quarters and schools.
"We're keen to bid for jobs to build government quarters," Loi said. "Currently, our RM450 million order book can keep us busy until 2009." |
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MP419B
Joined: 17 Jul 2005
Posts: 13
Location: KL
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| Posted: Sat Jun 02, 2007 6:39 pm Post subject: |
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| I asked already the price is 205.5 k & maintenance is abt rm200 for the smallest size. near kl but i doubt the return will be enough to cover monthly costs. |
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WaTch3r
Joined: 15 Sep 2005
Posts: 133
Location: Kuala Lumpur
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| Posted: Sun Jun 03, 2007 3:46 am Post subject: |
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Terry Chean was one of the guys that started off Angkasa Condo in Taman Connaught, and eventually broke up with the JV with partner (Connaught Heights Sdn. Bhd. under Bonia group) that went solo on the entire project.
Despite the fact that the propery made money for purchasers eventually, the delivery of the end product was less than desired. Finishing was bad, developer tried to shortchange purchasers into accepting less then what they deserved on LAD, developer did not keep to their initial agreement on maintenance and increased 50%, and developer/management office have been dodgy on the issues.
Though Terry Chean was out of the picture halfway though the construction of the property, I can't help but hold him accountable for words and promises that did not come through later. Furthermore, Terry & co exited half way, and the screw-up of the Angkasa Condo started at the initial stage, which speaks sos much of the delivery capacities of the parties involved when they were still happily partnering together.
I would have my reservations on a Chinaman type construction project, my personal opinion. |
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kerbSkiblyRek
Joined: 23 Dec 2007
Posts: 4
Location: Poland
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| Posted: Tue Dec 25, 2007 7:47 am Post subject: Make money online-this is real ! |
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