I just return from the VIP preview of the new Johor Bahru City Center project (matex land) marketed by NS Global. The actual launch will be Jan 2013. I actually went with my cheque book ready and with 70% chances of buying a unit. Then the more i ask, the more uncertain i became.
These are my findings:
- Unprofessional agent. It is funny that many of the real estate agent that I met are unprofessional. I heard my agent that invited me was still sleeping at 12 noon so they got me another agent to attend to me. He told me that UEM is a subsidiary of UMland (the developer) and that capitaland is a shareholder of UEM. What a load of crap!! UEM and Umland are actually separate and different entity. Capitaland is a shareholder of UMland and not UEM. UEM belongs to the Khazanah group (Malaysia's temasek holdings equivalent). I really don't understand why the agents do not spend some time to read up about what they are selling. Or at least the agency should train them properly. How difficult is it to just google it up and check? I found most of the materials online myself (99%). It is not as if they have hundreds of properties to sell every weekend. It is a full time job for most and a knowledgeable agent would at least command more respect from the buyers and raise the professionalism or standards of this profession. Unfortunately, most of them are just simply lazy or sloppy. They are not passionate about their job but only about $$$$. In that case, they are simply order takers and messengers. If you don't know, just say you don't know and never bullshit your way out.
- Facilities. You only get to use the facilities (swimming pool) for the first two years. After which, you will have to pay. No details of how that will be charged. Also, there is no allocated parking lots. You will have to ballot for a season parking. What the fxxx? No parking lots? What kind of luxury apartment is this? I can understand if this is mainly a service apartment like somerset puteri harbour but not for residential living like this. This is malaysia and land is of plenty.... My plan is to get one for a short weekend getaway and there's no parking lots? A more senior guy came over to try to answer questions but it made it worst. He says that they can't cater to everyone as each has their preferences and most will take the future subway (planned). Well, shouldn't a seller cater to a buyer for obvious reasons? Do you think you are the only developer in town? I told him i disagree as most investors would likely drive to JB and I very much doubt that they will want to take the train. I believed that those who can afford to invest in JB also drives. With the notorious crime rate in JB, wouldn't one prefer to be able to park their car in peace in a secure place? If you don't have a parking or priority parking at your own apartment, you will end up parking in public parking lots. There are a lot of Singaporeans driving to JB for food and shopping. Yet this guy is telling me that they are targeting people who takes the train? Either he is clueless or just an answering machine. Another example of sloppy sales guy.
- Unconfirmed units. You can make a booking with $5000 for a unit. However, there's no guarantee that you will have that unit. This is because they have some bumi (the local malays) policy where the bumi will be allocated some priority units and if that happens to be what you chose.... sorry, you will be given other choices. If you still don't like it, you can have your $5000 refunded back to you. Some of the units are really bad. The view is blocked by the proposed hotel. No thanks.... I just don't like to be 2nd class.
Well, just one disappointing weekend.
These are my findings:
- Unprofessional agent. It is funny that many of the real estate agent that I met are unprofessional. I heard my agent that invited me was still sleeping at 12 noon so they got me another agent to attend to me. He told me that UEM is a subsidiary of UMland (the developer) and that capitaland is a shareholder of UEM. What a load of crap!! UEM and Umland are actually separate and different entity. Capitaland is a shareholder of UMland and not UEM. UEM belongs to the Khazanah group (Malaysia's temasek holdings equivalent). I really don't understand why the agents do not spend some time to read up about what they are selling. Or at least the agency should train them properly. How difficult is it to just google it up and check? I found most of the materials online myself (99%). It is not as if they have hundreds of properties to sell every weekend. It is a full time job for most and a knowledgeable agent would at least command more respect from the buyers and raise the professionalism or standards of this profession. Unfortunately, most of them are just simply lazy or sloppy. They are not passionate about their job but only about $$$$. In that case, they are simply order takers and messengers. If you don't know, just say you don't know and never bullshit your way out.
- Facilities. You only get to use the facilities (swimming pool) for the first two years. After which, you will have to pay. No details of how that will be charged. Also, there is no allocated parking lots. You will have to ballot for a season parking. What the fxxx? No parking lots? What kind of luxury apartment is this? I can understand if this is mainly a service apartment like somerset puteri harbour but not for residential living like this. This is malaysia and land is of plenty.... My plan is to get one for a short weekend getaway and there's no parking lots? A more senior guy came over to try to answer questions but it made it worst. He says that they can't cater to everyone as each has their preferences and most will take the future subway (planned). Well, shouldn't a seller cater to a buyer for obvious reasons? Do you think you are the only developer in town? I told him i disagree as most investors would likely drive to JB and I very much doubt that they will want to take the train. I believed that those who can afford to invest in JB also drives. With the notorious crime rate in JB, wouldn't one prefer to be able to park their car in peace in a secure place? If you don't have a parking or priority parking at your own apartment, you will end up parking in public parking lots. There are a lot of Singaporeans driving to JB for food and shopping. Yet this guy is telling me that they are targeting people who takes the train? Either he is clueless or just an answering machine. Another example of sloppy sales guy.
- Unconfirmed units. You can make a booking with $5000 for a unit. However, there's no guarantee that you will have that unit. This is because they have some bumi (the local malays) policy where the bumi will be allocated some priority units and if that happens to be what you chose.... sorry, you will be given other choices. If you still don't like it, you can have your $5000 refunded back to you. Some of the units are really bad. The view is blocked by the proposed hotel. No thanks.... I just don't like to be 2nd class.
Well, just one disappointing weekend.
This comment has been removed by the author.
ReplyDeleteThis happen to me before in 2004/5 for the launch of The Sail @ Marinabay, I just change my agent quickly and bought my units.
ReplyDeleteSometime meeting the wrong agent really demage your life plan.
I was there too (Amara) and I was serve my Caroline (PA to Director)
There are more than enough carpark attach to all units.
The swimming pool is share but it is not chargeable even after 2 years. The only chargeable item is the spa and gym.
Everything is ok about the project except the Foreigner workers crowding there during weekend.
It come with standard furnishing , oven , hood, hob aircons.
Hi Bernad, you must have made a bundle from The Sail : ) so did you get a unit for this new JB project from your visit ?
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteI bought 2 units. (one for my sister)
ReplyDeleteI am buying because it is near Peter Lim future hospital hub. And also all the Theme Parks coming up.....(around 7 theme parks)
Do not get discourage by lousy agent. You have found a good project and stick to your instinct.
Ask youself......
Will you forgo the service of a good hospital just for the lousy service of a nurse?
I think you have choose a right project to buy into.....if you decide not to buy; the price may hit RM1100 in 1Q 2013 and you will never make another purchase again in JB.
And you may have just miss the biggest bull run in JB history.
===============================================================
My own experience with lousy agent...
Date: August 2012
Location: HarbourFront Centre
Shop : SP Setia Singapore Branch
I was there to buy a unit in Setia SKY 88. An agent working with SP Setia was there to confuse me with all the things invalid to my purchase.
I immediately told the manager I want another agent to serve me because the current agent is not helping me much.
I ended up serve by Alvin of SP Setia Singapore Branch. I eventually bought a unit on 39 floor for RM795 psf. And I heard from Alvin they are launching the last tower at RM1200 to RM1400 coming 1Q 2013.
You can guess the demage to myself if I just walk away from a perfect deal just because of a lousy agent.
Nice!
ReplyDeleteDo you know where is the exact spot for the peter lim's development? I read about it but not really sure where is the exact place except for some speculations online.
I bought a unit at somerset puteri harbour early this year @ RM825 psf but this is purely for investment purposes as it will be managed by Somerset at least for 10 years. I was looking for another one that's more for short weekend stay (plus capital gain of course) for family and friends. I have rather limited funds so i am very cautious with my next buy. Where are the other 7 theme parks? Are you referring to the indoor theme park at puteri habour (hello kitty, thomas the train, etc) or other new ones?
That's a good price for Setia Sky 88. I thought they are going to sell higher than that. A reputed developer which i am also more comfortable with. I was looking into it but did not action.
Anyway, glad to get acquainted with you online : )
This comment has been removed by the author.
DeleteThanks for sharing. Now i finally knows where it is : )
DeleteI agree with Bernard. Zone A will undergoing bull run although prices had already risen a lot in term of new launches. As I know Wong Ah Foo will be transformed (see website below). This Matex project is very promising and I bought one as well. The price is still attractive between 800 ~ 900 after rebate during this presales.. Some of the nearer development within walking distance from CIQ is already fetching higher prices e.g Skysuites. I believe the price will be much higher for the actual launch esp after they annonuched who is the hotel operator.
ReplyDeleteA few website for reference :
http://www.johorcondoguide.com
For JB city transformation.
http://www.iskandarmalaysia.com.my/pdf/cc-openday/IRDA-RandR-eng.pdf
I agree it indeeds sounds attractive. Did you buy for own use or mainly for investment?
DeleteFor own use first but may rent out if there is demand.
DeleteSouthkey is another good project. But the site is leasehold. I had registered myself for it but yet to assess the viability in details. On the whole, I think the Southkey mall may do well if it attract enough traffic (depending on tourism as population in JB is limited )but it will be part of reit. Not sure about the shop-offices in Southkey, etc as shop near mall usually do not do well. Property for short term stay such as hotel should also do well supported by the increase in tourism.
I am also not too sure about leasehold properties in malaysia. Same as those in mid-valley KL and KL eco city as they are all leasehold too. I have the same sentiments about shops near malls, especially if it is near a mega-mall. Some service apartment type of condos at southkey may soon be launching at RM450 psf i read, targeting Q1 2013. But then it is leasehold.
DeleteI am not keen on these condo. Prefer freehold in Malaysia since the premium is still not a lot unlike in Spore. But If they offer hotel suites on leasehold at price which make sense, I may be interested as hotel occupancy should be good in the future as tourism grows.
Deletehi John
DeleteNot sure if JB is that rentable which is my concern cf to KL.
Were you aware of the Bukit Ceylon projects which NS Global marketed? Is this better investment?
Not really rentable for bukit celyon projects. Klcc as well. Dun be fooled by them. Now oversupply.
DeleteTheme Parks
ReplyDelete1. LegoLand (opened)
2. Sanrio Land (opened) - Hello Kitty, Bob The Builder, Angelina Ballerina, Pingu and Thomas And Friends include Lat's Place Resturant (Malaysia National Treasure cartoonist Datuk Mohd Nor Khalid)
3. Desaru Ocean Splash (2Q 2014)
4. Desaru Ocean Quest (3Q 2014)
5. Wet and Dry Theme Park Danga Bay
6. Already planned but not launched. (4Q2014) (Iskandar)
7. Already planned but not launched. (4q 2014) (Iskandar)
JB may have up to 10-15 themeparks by 2015/2020
JB will become Theme Parks Capital of Malaysia
Ok, that's interesting. I didn't know about number 5-7. The properties in JB is really looking promising. Anyone exploring the South key project (eg. mid-valley JB) ? Any thoughts on that?
ReplyDeletewhat's great about this project is that it is fronting wong ah fook... first of its kind so far in the heart of jb CBD and along the planned sg sengget transformation plan... jln wong ah fook may turn out to be the future orchard road of JB :) but seriously more action required to upgrade and spruce up the whole area.. i think the crowds during the weekend is due to the remittance counters along wong ah fook..
ReplyDeletethe other thing is of course this project plan to have direct link with the proposed RTS / MRT station in JB CBD :)
can't wait for them to announce who is the hotel operator... could it be ascot just like somerset puteri ?
the units fronting wong ah fook should be the best option. i heard only few units left, those fronting the hotel
My guess is Best Western. They had been agreessively expanding in Malaysia but yet to have a presence in JB.
DeleteI thought it could be ascott until found out that they sold their shares from UMland. Another possibility are those hotels (hilton, crowne, etc) under tradewinds (their other shareholders). Did you guys managed to get good facing units? By the time i got there (1 bedder) , only left with west facing, hotel facing, etc.
DeleteTheir connection with Capialand is not over yet. They still have a no of Joint venture with Capitaland in KL and of course Somerset Puteri Harbour. But I dun think it will be Ascott as they mainly operate service residences/suites. A big reputable is a instant boost to the development. I also sign with Umland directly in the iproperty show in KSL city. They will be selling the lower floor directly. Can consider as well for units facing Komtar.
Deletei heard that the peter lim healthcare project is at polo park, nearer to stulang area near zone
ReplyDeleteHi john,
ReplyDeleteDo you mean skysuites @ meldrum hill ? how much are they selling now ?
Yes, Skysuites@meldrum hill. I heard it is sold out except Bumi-lot.
DeleteJust to share on the proposed future rail/MRT plan in Johor. It is just a plan now and could take decades to complete as population in Johor is too small to sustain the MRT now.
ReplyDeleteWebsite : http://thedevelopmentadvisor.com/tda/wp-content/uploads/2011/12/Iskandar-Malaysia-Transit-Plan.pdf
I know Matex is serve by Kotaraya Terminal which is only 70m away.
ReplyDeletePerfect for someone like myself whom never own a car in my lifetime.
A bus or a taxi will bring me from Singapore right to a terminal near Matex for a quick weekend getaway which I estimate to be less than 1 hr.
If I leave Singapore by 11am I will be eating lunch and watching movie in JB by noon.
matex is just across the road from kotaraya terminal... seriously less than a stone throw away :)
ReplyDeletethere's also RWS hourly buses that ply from the terminal to RWS and vice versa at RM5 / SGD5.. along the way, there's stop at orchard, outram mrt, great world plaza .... there's also another bus that goes to changi airport... convenience at your doorstep !
hilton is also around the corner at jln ngee heng.. landmark building...
mrt to ply in JB from one taman to another taman will take some time... but the one that connects jb central to spore is highly likely to materialise soon
do u think the plans to makeover sg segget will take off? how abt the refurbishment of the komtar which have failed before? dont seem to read much new investments in JB city centre, compared to nusajaya.
ReplyDeleteI think there will be hip cup along the way. But it should slowly progress if Najib is still the PM.
DeleteWent to JB yesterday for a quick getaway. The Galleria Galleria Kotaraya after refurbishment is already open. KOMTAR Johor Bahru is on track for full refurbishment by Damansara Asets Sdn Bhd. JB Central is going to be a shopping district together with City Square recently enhancement. I forsee some of the old buildings could also undergoing refurbishment if acquitted e.g Plaza Seni, etc in the future. If linked properly, I think it is very promising given the huge human traffic in JB Sentral ,esp with the MRT in 2018. Not sure if this is appealing to reits for some action.
ReplyDeleteI hope if UMland can get Citadines to manage the Matex services apartment as apartment hotel as well. Imagine a studio apartment at RM250 a nite = RM$7.5K a month. After taking occupancy (70%) and management fees (10%), what is left is RM$5.3K. The net yield is about 8~ 9%.
what are the shops in Galleria Galleria Kotaraya
DeleteMuch not shop. Pending anchor tenant.
Deletehttp://www.youtube.com/watch?v=r6bcrYzZuQk&feature=plcp
ReplyDeleteThanks for sharing the clip john : )
ReplyDeleteDid you noticed they (NS global) removed the clip?
ReplyDeletetry this http://www.youtube.com/watch?v=zGCCR97gRxY
ReplyDeleteThose who buy at this UM development is going to regret for the following reasons:
ReplyDeletea) the buyers will be generally some poorer malaysians or singaporeans wanting a cheaper place or alternative to Spore.
b) this IS NOT A LIFESTYLE DEVELOPMENT WHERE ALL THE RICH INTERNATIONAL INVESTORS COMING TO STIR THE MARKET or DEVELOPMENT. THE RICH INVESTOR WILL PROBABLY HAVE A CAR AND WITH A CAR HE CAN PROBABLY FIND A BETTER LOCATED PLACE IN TERMS OF NOISE AND TRAFFIC POLLUTION THAT PLAGUED THIS PARTICULAR LOCATION
c) THE PRICES ARE VERY HIGHLY MARK UP TO HAMMER THIS NON SAVVY INVESTOR FROM SPORE
d) SAVVY INVESTOR WILL PREFER A MUCH PEACEFUL AND QUITER PLACE TO CALL HOME. IN THIS NOISY AND POLLUTED CITY CENTRE IS DEFINITELY A NO GO
RM600,000 for Matex studio....
DeleteI doubt "poor Malaysian" will buy. I think Malaysian prefer Landed at RM600,000.
Those 3 bedroom on 30th floor or higher is around RM1,400,000. I doubt Singaporeans will be able to afford.
From a investment perspective, it is the value of the space which utimately determines how much that the price of property should be. This is especially true for non-landed properties such as condo/apt/offices/shoplots. For e.g Matex,
ReplyDeleteFor a six percent yield of a 1 bd in Matex (priced around RM600K), the rental is RM$3,300 plus 300 =RM$3,600. Converted to S$1,400K.
For a equivalent size in Spore (North Area), condo costs $2,500is and HDB is $1,500. Is it competitive? I think it if MRT can works from Spore to JB Sentral.
This is still based on current rental rates which could increase in the future. Is 6% reasonable , I think so. The location verus other areas of JB is a advantage especially for those who do not drive. It is for people working in Spore , not local. If you are a local, it is better off to purchase in Surburbs of Johor such Austin.
any insights into rental at nearby completed projects? would be good for reference and comparison. If MRT is walking distance to Matex, I think Matex can command at least 25% premium, provided Matex is a good product!
ReplyDeleteThe nearest is Orchid View. Command a monthly rental of Rm$2K ++ for a 1000+sq ft condo. But not really valid comparison as it is still quite a distance away (not really walking distance).I dun think it will be difficult to rent out at Matex if MRT is a stone throw away and it is surrounded by good eating places and shopping centres. Got a chance to rent to expatriates in JB CBD also well. 1 ~ 2 BD is suitable for Malaysia/Spore to singles who can commute daily from JB to Spore for work. One major advantage is that the living cost in JB is much lower than Spore.
ReplyDeleteorchid view and pine view is at the other side of the causeway which has nothing much except for old shophouses... and probably beef noodle at jalan lumba kuda :) can't compare to matex where CS and revamp komtar is opposite, convention center and hilton at the other side, and if the river boulevard project kick off and materialise, matex would be undeniable at the best location. whats more is the proposed mrt link up to matex. well, time will tell....
ReplyDeleteHowever, pls note that Matex had already priced in these developments and location. Hence the difference in price between Matex and Orchid view/Pine is quite significant. Developer are smart person. Whether the investment turn out depend if the service apt demand by tenants is strong. If the occupancy rate is very low, then the price will definitely increase. The uncertainly is there as Malaysia do not always keep their promise at the very end.
Deletehttp://www.malaysiapropertynews.net/2012/12/iskandar-waterfront-holdings-task-remaking-johor-baru.html
ReplyDeleteThe changes seemed to progressing well with Iskandar waterfront taking charges. The articles say about what is done far so for JB Transformation.This is good for Matex investor as the dreams become closer.
Thanks John. That's a good article. So far the clearest indication of how the JB city center is progressing. Looks like it is really going to happen soon. Matex looks even better now but i hope they don't use the Matex as the name eventually : )
ReplyDeleteThe name is not confirmed. I guess it take the name of the hotel operator or else Suasana Matex..maybe
DeleteHope not!!! Please don't put a Malay name, not being racist! Matex Rsidence sounds good to me
DeleteA hotel name will be better. E.g Somerset Matex Residence or Ascott Matex Residences. Very eager to know who is operating the hotel next door. I hope the management operator for the service residences goes to hotel as well..
DeleteGot this advice from a seasoned investor online when buying a property outside your home ground.
ReplyDeleteIt enlighten me instantly that Matex is the right choice..
1. If got FH buy only FH.
2. If can afford the best location buy the best location.
3. Never buy and hope. (Hope the place bloom.)
4. If there is bank building nearby it is a good location.
5. Shopping stripe will be a dream come thru.
6. If you can imagine yourself living there for 3 months without leaving.
hi john, can i check? did u get ur matex unit directly from umland or NS global in SG? also, u mentioned skusuites is within walking distance to CIQ? i dont think so ..its neat sky88 so dont think u can reach CIQ by foot. matex can ..but very very long wayy. at least u can walk to city squaure which by far is the most successful mall i have ever seen in Johor history
DeleteUMLAND is not selling yet. Only book in advance via NS Global. Skysuites is just behind Grand Blue Wave Hotel. Still can walk but quite a distance. It depend where the MRT is situated. If in JB Sentral(more likely underground station), the Matex reaps the most benefit. If at Tanjung Puteri area, skysuites may benefit more. One thing to note , the developer for Skysuites is Maha Builders. In term of building, design and subsequent maintenance/management of that condo, they are still far inferior than Umland. Umland had a good track records of building good and sustaiable condo in KL.
ReplyDeleteHi john, thanks. i booked via ns global too. i was told UMland cannot sell the project at all .. everythign has to go through ns global, even for preview. actually i would think jb sentral is a more likley location since it is more directly accessible through CIQ. yes i heard maha builders is not that reputable. i think among the cluster (summerplace, sky88, skysuites), skysuites has the most inferior developer
Deleteand skysuites bumi lots have been released. Price still reasonable at 7xxpsf especially when you compare to the 1200psf for last tower of nearby sky88
DeleteJB sentral is more likely to be the MRT station and makes the most sense since CIQ is near. That's the ideal at least. The preliminary study by AECOM Tech proposed that as well. Whether eventually will it cross the causeway via underwater tunnel, via the causeway or otherwise is uncertain yet. See blog posting on the 24 Nov for the brief info on the MRT/RTS. The plan is to link them up to a high speed rail that goes straight to KL sentral. KL sentral is a hub for all their train networks so JB sentral is very likely to be the station/hub.
DeleteSkysuite is nearer to Peter Lim's medical hub and mega-mall than JB sentral.
Checkout this link http://www.railway-technology.com/news/newsaecom-wins-contract-johor-singapore-rapid-transit-link-study/
DeleteThanks for the link! Good news for those vested in zone A.
Deletei think most of the buyers who are sporeans and msians who are working in spore like myself will be happy enough to have the MRT link btw JB sentral and Woodlands. the MRT connection to rest of areas in Malaysia like KL is a bonus. that sounds ambitious but the least we hope the govt will do is to approve and build the msia's share of the MRT link and dont abandon the project like what happened to the causeway bridge!
For me, I only buy from branded developers in Malaysia. A little premium but it is worth it for the piece of mind and quality.
ReplyDeleteYeah. did ns global tell you what is the tentative date umland is releasing other floors? i was only told by Q1 next year
DeleteNot sure. I hope to get one more unit well for my relative. Contact umland directly directly as well. No reply yet.
DeleteI am doing a poll to get votes for the best preferred condo location (see top right of the blog). Left 5 days. So far only 6 votes which is not very representative. Pls feel free to vote for your fav condo in JB.
ReplyDeletealready voted - matex of course!
Deletebtw WK Ee, i just realized this is YOUR blog haaa. i thought you were some random reader like myself who came by and posted comments. So you are upset abt the parking lot and facilities. I am a bit affected too .. that you have to pay for all these as an owner but i guess i am not bothered by the parking lot since i dont drive (i just pay if i need to use the lot which is not frequent) and also i just pay for using the facilities (on top of the maintenance fee payable). i think the management just want to get more $$ from the residents ... all these extra expenses are really nominal if you can live in JB and commute to spore given the MRT project is successful. for you who plans to use matex as weekend getaway, you can avoid the cost since its pay as you use .. depending on whether you use the facilities or not. it may be a rip off but the location sure make up for that!
DeleteHaha... i was disappointed some weeks back but am way passed that. Took Bernad's advice and speak to my original agent. Just frustrated with unprofessional agents. They offered me a unit eventually but on a lower floor and with the same rebate as the first VIP preview. The Matex location is one that i feel i can use for my own (that's my original objective). Happy to share with my friends and relatives if they need it. I am also more confident of the capital gain due to the location and plans for the JB area (not to mention the other interesting developments). This year is likely to be the tipping point for iskandar as many things are starting to take shape.
ReplyDeleteAt least this entry generated some buzz and we get many good inputs. I think such sharing is good for fellow investors as information is key. Comments from fellow savvy investors are very valuable, not to mention more objective vs from agents (or other agent's blog). Usually we only get to hear from 1-2 of our fellow friends who also invested in it but not those outside of our circle. Always good to hear from other's perspective on things.
Hopefully it will help everyone make better informed decision.
yea i am more active in property research in SG and only looked at property in JB recently. for the longest time, property market in JB is thrash. the property market in msia seems less transparent and even basic info like TOP date etc is hard to find, thats frustrating. So its good we are talking much here and share info that anyone of us might have missed out.
DeleteOhh ..congrats! So u did eventuallyy get an unit. which type and facing if you dont mind sharing? I have Q for mine (also after talking to Bernard - the opinion leader haa) and hope to get a good unit.
why do you have to q?
Deleteok since u asked, i believe u must hve gotten ur unit. i asked u earlier whether are u in the Q. all released floors are sold out ..interested buyers like myself now hv to Q so when the floors are released, we will be given priority to choose our unit. same thing - pay 5K
DeleteUchiha, sorry was on a long distant flight out of SG. Mine is north west facing. It is supposed to be blocked by the sun by a protruding block (looks so from google map but not 100% sure though). I am also not in the Q.
Deletehi WK Ee, no pro. hope you've had a good flight! hmm blocked by the protruding block. so yours is one bedder rite?
DeleteUchiha, u guys are fantastic. I have trouble keeping up with all the comments. Keep them coming. The more the merrier.... yes, my in one bedder.
DeleteDid you all pay the SGD5K administrative/bookings to NSGlobal for Matex Purchase? Do you find it reasonable or worthwhile tp pay this sum of money to NSGlobal? Just like to get some opinion as I dun find it a common practice. Thanks.
ReplyDeleteI think all who went through NS global needs to pay the admin fee. Initially i dont find it worthwhile but no choice. we can only go through them. just hope we can recover the 5K through capital gain for matex. If you dont agree with the final price offer, they will refund you in full
Deletei am also not comfortable.. but what to do?
Deletei heard they practised same way for somerset launch too.
hi Sean, u booked too? are u also in the Q or u have snapped up the 1st few released floors? i think they are just exploiting their exclusive right with UMland.
DeleteYes,they practised that for somerset too.
Deleteyes I bought too during the 1st release. also thanks to bernard..
ReplyDeleteagents tactics to accumulate cheques and then ballot. just like encorp.
i wonder if they are given the rights by UMLand yet.
this tactic has been used for a while in spore. for example, Optima @ Tanah Merah. but agent never charged a hefty fee like ns global did. Called UMland. they said yes
DeleteThey charges for every property they sell, not just limited to UMLAND property. Unless no choice, it is quite foolish to buy with SGD5K fees for property which are also sold directly by developer or by other agents
Deletethen at least its the same level playing field that everyone pays the same 5k.
ReplyDeletethey might get greedy and charge 6 or 7k if demand surges
DeleteNsglobal is the big winner for matex. Wa!Wa!
ReplyDeleteRecommendation from a seasoned investor in Matex.
ReplyDeleteI find the best unit in Matex;
Type
C1
C2
B2 (some aftenoon sun)
B4
A2
A4 (some aftenoon sun)
A7
A unit will have very good view if clear 23 floor.
got B1. Will get some afternoon sun too. But unblocked greenery view
Deletethye have released 13th and 14th floor
DeleteCongrations. Did you get the 5% discount and free state levy?
Deletehey john, thankss. i got 2% only as they only offer 5% to one and 3 bedders. state levy doesnt apply to me as i am a malaysian. i get spa legal waiver
DeleteJohn
ReplyDeleteDid you get any unit from Suasana Bukit Ceylon, from the same developer? I am thinking of getting a unit at Matex but I am considering whether the Puteri harbour side is better for investment? Any views?
No, I didn't get Suasana BC. Bukit Ceylon is going to be very crowded >5 condos/residence now building and more to come. How to find renters? Totally oversupplied, just like KLCC. There are less stressful to make money from property. Depend whether you know how to find it, that's all.
DeleteMy personal opinion is the only property investment viable in Puteri Harbour is Somerset Puteri Harbour. Secured by long term rental contract with Ascott (this is branded , occupancy rates should reasonably acceptable. For the rest, the question is where/who is the tenants? If one day, I work in Nusajaya and need to rent, I goes for landed property, cheaper and good since living in PH also need a car as well.
yes, i agree with John on this one. Somerset puteri harbour is different as it has their own captive market and brand. It can also be for short term stay like a hotel. You do not need to worry about tenancy as it is operate like a hotel (eg. Ascott KL, somerset am pang or even somerset orchard). How successful will this be is a question of course but won't others be of greater worry? Unless it is for own stay. If it is for own stay, i will rather choose JB city. I am more comfortable with rental market for hospitality sector due to the faster development in the resorts sector (eg. legoland, indoor theme parks and many more). I am really uncertain about rental market for JB. Unsure of what economy is there to sustain the rental market .
DeleteI would be very careful on KL too. I also find that it is over supply and yes, many more condos coming.
The Edge Financial Daily has an article yesterday that the MRT may begin at Tanjung Puteri http://ow.ly/i/1e63x
ReplyDeleteLook Summerplace and Sky Suites may now be a better bet being closer to the MRT station
Hmm as per the article, it seems like it is 100% confirmed the RTS will be at tanjung puteri? Are you still going to get matex
DeleteWell...Matex is still quite attractive with JB transformation, shopping stripe, existing JB CBD and still quite close to Tanjung Puteri. I will keep to it. Anyway, news is not confirmed yet. It just doesn't make sense to have it at Tanjung Puteri since all the developments and action is in JB sentral.
Deletejohn, did u get a unit? they have released the 2 floors today. i was a bit worried i may not get my choice unit as didnt want to go down to lower levels and also the high levels from 21st level onwards may be too expensive for me as they are adding like 5-7K per level.
Deletei was looking at skysuites at tanjung puteri and its quite tempting as the 2 bedders are almost 100K cheaper than matex. but the site is so small and it has to compete with the big brother sky88 and summerplace and only the 3 bedders which cost >1 million gets the straits view so i looked over it
DeleteI already got one unit at Matex at the very first preview.
DeleteOur remiser king , Peter Lim is really smart to choose to build his hopsital development near Tanjung Puteri.
However, there is still a lot other areas which is worth for investment. I am currently evaluating some of waterfront landed property along the Tebrau Coast. Poised for re-development , lots of employment at Pasir Gudang areas (oil & gas sector), a short driving distance to JB Sentral, prices are still cheap, close to Desaru as well. Numerous schools at Seri Alam.
yesss. if hes not smart, he wouldnt make a fortune out of betting on wilmar. great foresight! yes yes .. pengerang is coming up as an oil and gas hub and the workers need place to stay! so tebrau coast may be a good investment.
DeleteHello,
ReplyDeleteCould I find out what is the payment schedule like for Matex? Would it be a downpayment and only the rest payable upon completion in 2016?
Lastly, bank loanwise, do you all get from Singapore or Malaysia banks, and what's the max margin of finance? Thanks!
hi, downpayment min 20%. rest in 2016 as its under DBIS. i dont think singapore banks are able to finance a property in malaysia ..
DeleteHi Uchiha, thanks so much. Just to understand, the 20% downpayment has to be made before the unit is secured? Or you put down 5K and then 20% another 1 month later when you raise it?
DeleteAlso, noted that you said that they released 13,14 floor. Does that mean the 2 bedders for all floors above are pretty much all sold? Thanks =)
hi, pleasure! oh no ..u pay 5k to ns global to secure your unit. 10% payable when you sign S&P and 1 or 2 months later developer will call for the remaining 10%
Deletehmm .. i am not sure whether the 2 bedders are all sold. all i know is the agent told me i secured my choice unit. there are 4 2 bedders per level so 8 2 bedders were released. i didnt really check with the agent the total sales figure for today. maybe you can ring them up? i think the 2 bedders are highly demanded ..so that's why only 2% rebate was given. Interested in the 2 bedders? i think this round, they increased the price for all units ..and the next release .i think there is a good chance they may increase again. so if u are interested, better act fastttt!
How much is the price Increase?
Deletei paid 900psf for my 2 beddeers. so if u bought 2 bedders at first preview, the difference in psf will give u an indication how much the increase. anyone can share psf of 2 bedders at first preview?
DeleteThe first preview 2 bedders is around 830psf after 5% discount. Before discount is about 880psf. Mine is a 1 bd , I paid around $865psf after discount.
Deleteso its about 8% price increase for 2 bedders.. quite a lot!
Deletedid those in 1st preview got everything waived inclding spa legal fee?
ReplyDeleteThat is on 18 floor. Not sure your is which floor. If it is on much lower floor and prices is still higher,
Deletethen the increase is very substantial.
When buying property from developer, always be the first so as to get the maximum discount and best prices.
Yes, it is waived. But Loan legal fee need to pay.
noo. mine on 14. my batch only 2 floors released. how is the loan legal fee calculated?
Deletehey future neighbours, its quite tedious to post messages here as i have to write the security code each time before posting and blogs are not meant as a chatting forum i suppose so i hv created a group on facebook for matex. i did this for my other property and it's a good experience with owners sharing pictures, info on events, happening and news that may impact the project. well.. not sure whether are u guys on facebook or receptive to this idea .. in time to come, hope more owners wil join. well if u guys are receptive, drop me your facebook id at expresso888@hotmail.com so i can add u to the group. dont worry abt privacy, i am able to add u to the group without adding u as 'friend' on facebook so we will not be able to access one another's private profile .. let me know!
DeleteLoan legal fees is 0.5% of loan amount plus small disbursement fees. Usually this cost is added to the loan as well so need not pay upfront.
Deletewhat is the group name in Facebook?
i see. thats not a lot actually. oh i tried creating the group but i realized i cant proceed without first adding at least one person to the group. so if i get your email id, i can add you and create the group.
ReplyDeleteyou can chat at http://www.singsupplies.com/showthread.php?137316-Matex-Residence
ReplyDeletehi sean, yes and the thread was created by me! ha
DeleteI still cannot figure why Sky88 can command such a high price. Location in Tebrau in front of New York Hotel. Nothing to shout about. Not very great what.
ReplyDeleteIconic ma. Sleek design. But for that price, i rather buy sky suites that is still selling at reasonable psf though built up plot is much smaller. SP Setia is also very reputable compared to mahabuilders. but already 3 condos there..and sky88 alone already has so many units. that place is going to be so cramped. i think many dont know matex yet. its not widely marketed thanks to NS Global that is keeping the marketing tight (even trying to remove youtube vids for matex) and the project is not listed in UMLand website). anyway its good for early birds like us. hope psf will shoot during offical launch
DeleteI am contemplating to get a unit at Matex but still a bit uncomfortable with rental as I am buying to invest. Will it be hard to find tenants?
ReplyDeletehi richard, if the RIS goes well, many who are currently staying in Spore (especailly woodlands) will be shifting to msia. Naturally matex is one of the best choice as it is near cty square thats linked to the causeway. anyway i understand this is commercial title and so mgmt may help you to rent. Or you can sell at TOP in 2016 upon completion.. i am sure there will be capital gain. by 2016, the surrounding place would be nicely done up already and will be quite robust then. good time for subsales
Deletenothing is certain now ..not even the location of RTS and whether the city upgrade will happena at all. all of us who bought matex are taking calculated risk. if RTS and city upgrade have happened, matex will not be selling at the current psf .. will be >1000psf easily. but what is certain is this condo is located right in the heart of the city and near city square, the most successful mall i have seen so far in johor and the mall in which 90% of ppl who travel by bus from SG to msia across the causeway will pass through, heavy human traffic. depends on ur risk appetite, if u can hardly afford the mthly installment and have to depend on rent to cover it, u can always sell when it is ready in 2016. i dont thnk u will make a loss, especially if u get the 2/3 bedders corner units with superb view. thats my 2c
DeleteThanks for the view. I know you guys are taking calculated risks. Now it is hard to buy Singapore properties with small capital outlay and JB seems to be one good affordable choice for now. I was too late for the Puteri Harbour launch so hope to get a unit at Matex. ANy idea which units are available now?
ReplyDeletemany ppl seems to go for PH. not sure how the ferry service is going to work out. thats too much of a risk for me to swallow so not keen there in first place. now the 2 floors not that good. 14 has a water tank whil 13 is a pantang number. 2 bedders facing hotel still have i think..the other side all gone. there shld have 3 bedders and 1 bedders left but limited choices as i bedder is below thw water tank. i wont touch those
DeleteFor rent, go for one to two bedders.(not facing hotel). Three bedders is more for self-stay.
ReplyDeletetrue. one bedder appeals to single who wants to live alone and want privacy of not sharing unit with others. 2 bedders appeals to couple or small family. might be easier to rent out when the family/couple has double income and can better afford the rent
DeleteActually, if for investment, can consider Sky Suites/summerplace as well. But the prices is almost double from its earlier VVIP prices.
ReplyDeleteI just bought 2 units of B4 this week.
ReplyDeleteI insist of 5% discount and I got it. (they offer 2%)
RM855 psf avg.
And also I got free levy.
They also offer me $3500/unit booking fee.
I do not mind paying slightly higher compare to first launch because B4 in phrase one is sold when I arrive in Amara.
B4 will face Komtar, and lower floor can see the new walking street and river segget.
For those whom cannot decide should just go to City Square shopping mall and see whether you like the feel of the area. For me I feel it is like Orchard Road of JB.
NS Global increase the price around 3-4% in 1 months. One can see this project may launch at RM1000 eventually.
If low floor all sold; I bet 23 floor or higher going at RM1000+.
My advise; if you intend to buy; buy early.
http://youtu.be/RDNkbbnSw4g
ReplyDeleteThis is my video on Matex.
It is clearer.
Best unit in this developement below 20 floor.
B1 (unblock view, a bit of west sun)),
B2 (unblock view, slighly more west sun as compare to B1),
B4 (Komtar/Jalan WAF view).
B3 (Totally blocked)
A7 (Best unit facing Komtar, but master bedroom half blocked by B4 balcony)
A2, A4 (Both unblock facing LKN side)
A6 (bedroom block by escape stairs)
A1,A3,A5 (9-12 floor) at least can see the pool. Not too bad.
A1,A3,A5 (13-20 floor) block directly by hotel)
C1, (Living room is blocked by hotel partially. 3 bedrooms unblocked view)
C2. (Shopping stripe view, living room blocked by hotel.)
Both type of 3 bedroom is good for own stay.
Hi Bernard, how many units you buy Together?
DeleteThis comment has been removed by the author.
DeleteBig landlord!
DeleteHi Bernard,
DeleteCan I ask what do you intend to do with your units when it is completed?
If I am not wrong; all units can be run as service apartments.
DeleteI will use the 3 bedrm unit and rent out the rest 2 bedder as service apartment.
If the hotel offer 14 days stay free for every unit; I will rent out all. 56 days free stay will be sufficient for my personal use.
This leasing arrangement is new to me. Was it nsglobal who told you about It?
Deleteactually Bernard, this is also something new to me too. i know you briefly mentioned it in earlier posts but i didnt pay much attention to that. love to hear more on that
DeleteFrom "voice" within NS Global....
DeleteIt is all along a Service Residence like KSL and Sky 88.
The operator of the hotel will run the Service Residence too.
But do not quote me as this project still not launch and lot of details still not finalized. Even the floor plans also keep changing; anything can change.
PS: With regard to Sky 88; the last tower was suppost to be a service office cum residence. But the greedy developer want to sell last tower now as price is sky rocketing. Otherwise it will be similar to Matex. With 1 tower of Service Office and 2 towers of service residences.
I hope this will materialise. If so, managed by a renowned hotel operator, I will expect the net yield >6 % ~8%. It will also greatly enhance the resale value.
DeleteSky88 latest launch is really expensive at 1600 ~1800 psf. In comparison, Matex is much cheaper.
like you, i also dont understand why would an investor choose sky88 over matex if there is only these 2 projects to put $ in. guess it will be interesting to see the take up rate for the last tower at 1700psf
Deletehttp://www.iskandarmalaysia.com.my/pdf/cdp/16._Chapter13_-_Johor_Bahru_City_Centre.pdf
ReplyDeletehttp://www.iskandarmalaysia.com.my/pdf/cdp/19._Chapter16_-_Transit_Oriented_Development.pdf
Enjoy.
1. RTS
ReplyDelete2. Shopping (City Square, Galleria, Komtar, Matex Mall, Menara Landmark)
3. Link bridge (CIQ to City SQ to Komtar to Matex to Perdana)
4. Bank buildings (UOB, OCBC, Malaysia Central Bank Negara,HL Bank,EON Bank,HSBC, Bank Islam)
5. Perdana Convention Center
6. 3 new museum
7. Segget riverside walk
8. Peter Lim hospital
Regretted. Should bought a few more units during the first preview where prices are much lower. The prices had now increased by 10% taking account of the different floor premium.
ReplyDeleteIf it is going to be run by a hotel, it is a quite a attractive investment.
can still buy nowww. anyone know sales of 13/14th floor? i mean anyone who has asked ns global
ReplyDeleteChecked with them today. Still got a no of units avaliable, sales is slower than previous. The prices is already 10% more than I purchased earlier. I think the margin of safety is smaller and may not worth it. I will look for other project in particular industrial properties is still undervalued. Hope to get one in secondary market which is on long tenancy by a MNC , yield > 7%...searching...
Deletei think price increase aside, the 2 floors released are not as good as the first launch. these are lower floors and also 13th floor is not "buyable" especially for the supersitious and investors who are worried they cannot sell off the units in future and 14th floor has a water tank so adjacent units to the tank are no good.
DeleteDear fellow savvy investors,
ReplyDeleteThis Matex project is still in it's infancy and techincally it still does not exist.
Not many people know of this project at all. My friend whom I told to buy a few units thought it might be a scam as he cannot find any news on this project.
Those whom have bought must wait for S&P to be signed to confirm you are vested. Otherwise everything is just a dream.
The banker is already involved. The banker had told me that my loan is technically approved.
DeleteBut utlimately, it depend upon approval of the project by the state government. If already approved long ago, they can actually sell at prices matching /exceed sky88 since the location is better.
In any case, NSGlobal is a Spore co which had been selling for a few years here already and the boss, a Spore PR is residing in Spore. At least there is a presence here.
On a second thought, all the developer is rushing to launch and sell their units. Does that tell us they are sensing that the market is approaching a peak and may correct soon . That why they are in such a rush to sell even though sales permit approval is yet to be obtained.
Deletei thought the project has been approved by the govt? I asked ns global when i booked and they said its has been approved. can anyone confirm that the sales permit approval for matex has not been approved??
DeleteBernard, i rmb there is a clause saying if developer does not issue the written notice within 6 months, our sales transaction will be void and we will get the 5K back. UM Land is a reputable developer so would think there is a high chance it will issue and we will get to sign the S&P
Deletedid they give you the sales permit no? If obtained, they will be able to quote it.
DeleteIf they had, they need not ask you to sign such agreement.
In Malaysia, technically they can't sell if the sale permit is yet to be obtained. That is the reason why they only sell in Spore as they will not contravene the law as they are not selling in Malaysia.
Nooo. i wasnt aware of that. Thanks - looks like i still have a lot to learn about property in Msia. So that is the reason why they sell in Singapore but not in Msia! I always wonder whyyy
Deletei think what they told me is project has been approved by the govt. and this is a separate issue from sales permit i guess. then it make sense why UM Land does not list this project in its website and is not allowed to sell this at the moment
DeleteThey are not really rushing.....
ReplyDeleteSome of their land bank like East Ledang can be selling for 20 years and still they have land to launch.
Matex have been delay from 2011 to 2012 to 2013.
Their land cost is RM350-450 psf; and selling at RM900 may be a sign of them cashing out.
UM Land will make more from Seri Austin and Seri Alam which they can sell year after year to milk the market.
They cannot milk an area with limited land.
That is why from start I already say I do not care about the $5k as I think it is buying a "call option".
ReplyDeleteI doubt UM Land will hold back and do not sell to us thru NS Global as most units still not sold. (how dumb can buyers be looking at Teega, Medini Signature and missing out the real deal)
I am quite sure they will launch in 2013; but whether it is within 6 months from the day you sign the contract ;;;;;; it is anyone guess.
So far NS Global has done a lousy job of selling less than 100 units in a super bull market. (If I am UM Land I would have fire them and sell directly).
I doubt they will not sell those units to us as the number is not the majority.
I realy wish they launch at RM1500; and I will win a bet win with my friends that the price of JB condo will be at same level as KLCC.
yes i agree with what you said. call option .. right but not obligation to purchase. Good way to look in that prespective
ReplyDeleteNS global charge high admin fee but didnt really deserve the fee, in my opinion. They have the upper hand with the exclusive right but their marketing and follow up really need much improvement.
hmm i think its possible for JB condo to reach the same level as KLCC condo, i mean of course put in same perspective ..the condo has to be smack in city like matex just like a condo that is near KLCC.
KL condos may benefit from demand from a pool of highly paid expat tenants working in KL but JB condos also have the advantage of proximity to Singapore so are supported by demand from potential tenants/investors earning "artifically" high wage driven by strong Sing dollars.
However, its up to the msian govt to make it happen, to realize the city beautification dream. at least concrete plans are laid out now ..whether the plans will be carried out successfully ... we investors just have to prayyy and prayyyy
Has anyone taken a walk from the customs to Matex? How long is the walk? I am tempted to buy but rental may be a problem and rental yield may not be good. Industrial property may be better if can secure a good tenant
ReplyDeletecity square is connected to the customs. Assuming your defintion of "customs" is "just stepping into the customs building" (you got to walk quite a bit to reach the passport clearance gantry), i would say 15mins? (10mins from matex - city square, 5 mins from city square to customs). i think there is some proposed link btw matex and komtar so in future if this materialize, can go through the link to komtar (not sure whether the link will go to customs or still have to go through city square)
ReplyDeleteThis type of property is actually more for Capital Gain. For cash flow, suggest that you find cash flow, tenable type of property. for e.g small warehouse/factory space which is already tenanted or easy to get tenants in JB.
ReplyDeleteOr own stay for those commuting to Singapore IF the RTS works out. you can walk to CIQ also to get across to causeway but its not very near
DeleteCompared to Skysuite, which is a better choice? The RTS is nearer to Skysuite?
ReplyDeleteif RTS is at tanjung puteri (seems likely), then skysuites is better. It is cheaper too but quality of furnishing is inferior to that of summerplace (new condo behind or next to it). Also there is no major mall in that area .. have to see what plans are there for the tanjong puteri area
DeleteI went JB last weekend. I did not really find the distance of Skysuites a lot closer to the likely RTS location i.e old lorry custom than Matex.
ReplyDeleteReason is because it is still a distance away from Bluewave front hotel (right of the hotel). As such, I dun think the location of skysuites is a major advantage over Matex. Matex could be accessible if link by sky connectors properly. But it is about RM100 ~150 cheaper on average compared to Matex. Cost Advantage but quality and subsequent management of the condo is a question mark. If flipping, Skysuites may not be a big concern. But if held for a few years or longer, management of the condo is definitely a concern.
I will expect the rental yield to be modest or barely cover the mortgage and maintainance. May experience negative cash flow due to lack of tenants in 2017 and 2018 when the RTS is still not up and running.
Thanks much for sharing john. hmmm interesting fact ..i assumed skysuites is just across the old lorry customs. I heard skysuites is only about 300+psf pre-launch and now its 700+psf (John, u mentioned psf has doubled so what i heard seems correct) and though the current price is mostly a result of catching up with market price trend, 2 reasons why the project was priced at 300+psf initially are 1) developer made a mistake and underpriced the project 2) furnishing, material, location etc are not excellent so may not command a high psf. As of now, i think the 2nd possibility cannot be overruled. On the other hand, Matex's pricing (and stuffs like no alloted parking lot and payable gym/spa usage outside the mthly maintenace fee) does send a signal the project has potential and its positioning as an unique integrated development. And of course as i hv mentioned many times, City Square is set to scale greater heights under the management of Capital Land, an expert in retail (it turned around a dying Illuma at Bugis if i am not mistaken)and this mall captures high human traffic from the causeway link so proximity to City Square is a big bonus point for matex
DeleteI can't find any evidence of City Square is managed or owned by Capitaland. Can you point us to it ?
ReplyDeleteCity Square JB is 70% own by a subsidary of GIC RE(Singapore).
ReplyDelete30% own by Merit Properties Sdn Bhd.
It is run by JOHDAYA KARYA SDN BHD (owned by Kuok Brothers Sdn Bhd whom sold the 70% to GIC RE)
Our homegrown King Billionaire Investor Peter Lim is investing in Zone A in a big way.
ReplyDeleteLatest investment via controlled company Rowsley...
http://investjohor.wordpress.com/2012/12/22/rowsley-plans-to-acquire-rsp-iskander-region-for-s581m/
He see potential there!!!
Guys, spoke to UM land today.
ReplyDelete1) Advised no certain whether UM land will be selling matex directly but based on history, slim chance of direct sales. Apparently UM Land works very closely with Ns global
- many UM Land condo was sold exclusively by Ns Global
2) Not surprising to us by now but was advised future price (project to be launched in Feb/Mar 2013 estimated) will be higher than the pre launch price
3) 7th floor facilities to be shared with hotel guests as those are owned by the hotel and there will be a roof top garden and coin-operated laundry counters and gym on the roof. No pool – residents do not need to pay extra for the roof top gym as it is covered under the monthly maintenance fee (I think work out to be RM300+ per month).
4) There is no guaranteed rent scheme so matex wont be managed like Somerset Puteri Harbor
What do you guys think? I am a bit let down that residents have to share the 7th floor pool and other facilities with hotel guests but overall, I am still comfortable with putting my $$ in matex
Good information. Thanks.
ReplyDeleteThis kind confirm my thoughts on Matex.
No pro. what do you mean by your last statement? whats your thoughts on matex?
DeleteThat it will not be managed as a service residence like Somerset PH. If that they wanted to do so, they will build the guaranteed rent effectively into the price and announced when they sell.
DeleteDoes anyone here know if we do not opt totally or partially only for DIBS, will we get a rebate for that?
ReplyDeleteno idea. need to check with the developer. dont even know which bank is working with UM LAND
Deleteno rebate. no choice but to take DBIS
DeleteAnyone knows if UMland's projects in KL are doing well?
ReplyDeleteGreat to come across this website and seeing fellow future neighbours/investors of Matex JB!
ReplyDeleteHad just bought B2 (Facing Skudai) on 14th floor. Fyi, B1,B2,B4 on both 13&14 floors are all gone but B3 for both levels are still available.
As for A type, limited units left and 1 out of 3 units under the 14th level water tank was sold. As for C type, only left facing hotel
hi Michael. Congrats on your purchase! Facing Skudai? I thought Skudai is a taman in outskirts, far away from CBD.
DeleteI wanna get B1 or B4 but both types aren't available. So I just grab B2, facing west sun. I think from my window should be able to see Setia 88...lol
Deleteof course u cant get B1 on 14th floor because it's mine! Haaa ..nice meeting you, my direct neighbour! :)
DeleteWhaha so it's you! Great to see u my direct neighbour here! If I'm not wrong, the 2 B4 units for both levels were snapped by Bernard Yu
Deleteyeaaahh, wow. are you from NS Global? How did you know bernard bought 2 units?
DeleteNah...if I worked for NS Global, I will already know and able to snap units at level 18-20. Haha too late
DeleteBernard mentioned that he bought 2 units of B4 2 weeks ago. So I pressume will be both units of 13 & 14
Only the boss of NSglobal bought the units. The rest of the agent within Nsglobal did not buy as far as I know.
Deletehaa Michael, just kidding! yes he did mentioned here a while ago. John - Norman the CEO? He bought the released floors or he have special VVVIP privilege to buy the high floors? btw, HAPPY NEW YEAR 2013 TO ALL OF YOU HERE!!!! May Matex HUAT all the way!
DeleteWelcome Michael! Yes, the discussion on this topic is very active here and we should all be neighbours in few years time.
ReplyDeleteDid you buy at another 'preview' by NS global or this is their launch?
Hi WK Eee, this project is not "Official" so not many people aware yet. Most buyers I heard/see were likely reading or found this project in WWW.
ReplyDeleteLikely official launch should be somewhere in Q1 2013 and I guess UEMLand will want NS Global to clear the lower levels: 12,11 etc for the launch first.
Price yet to determine but logically should be same or higher because lower floor but also with the "pushing" JB news (Eg: Peter Lim, Rowsley, RTS, Tangs, Lido etc)
If anyone intend to wait and get better unit (Risk of higher psf), they also need to pay the S$5k to NS Global. People can treat this amount as "small knife cuts big tree" theory? Haha ;)
Guys I have news for you. From reliable source, RTS is confirmed to land Tanjung Puteri, not JB Sentral. So matex which was originally promoted by NS Global with the USP of being linked to RTS will not benefit at all and this changes the whole scenario. That is why Peter Lim is having his project at Tanjung Puteri - it helps to have the Johor Sultan as the partner. It is still not too late to forfeit your booking fee with NS Global and wait for Peter Lim's project.
ReplyDeletedude, it may be a disappointing to matex buyers but its not a deathblow to the project. RTS will still be 5mins drive away and the location is still good, with or without the RTS. You talking about Vantage bay right? Yes we can pull out and wait, and what if the psf > RM1000? that's beyond my psf threshold
DeleteAgreed with Uchiha. I didn't buy just because of possible RTS as I treat that is a bonus as everyone is just speculating the RTS location currently. Matex location is good enough, being near CIQ, City square, Expo and the upcoming transformation. With Komtar tower coming up (Already built 3 levels) and there's no nearby property similar to Matex in this area. I do felt their current 800-900 psf is worth investing and believe it will easily cross >1k psf w/o RTS
DeleteWas wu the impression that Peter Lim's project was at Stulang area, a few hundred meters away from Tg Puteri. Think the developments that would be closest to the station would then be V Summer Place and Sky Suites, and to a lesser extent Orchid View
ReplyDeleteIf there is anyone who wants to forfeit your booking, just let me know and I can take over and pay you the booking fees provided your unit is B1 or B4 between level 15 ~ 20.
ReplyDeletewhy not B2? the facing is good tooo esp at these higher floors
DeleteIf I'm not wrong, agreement stated it's not transferable. I believe the original person will have to forfeit his $5k and you will need to pay another $5k to re-capture his reserved unit
DeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteyou are right. clause 7 of the agreement we signed - non transferable unless approved by developer. A shrewd agent /developer would never allow this to happen - if the reservations were transferable at no cost, those who reserved during the first preview could sell the reservation rights to those who missed the early birds and profit from the psf difference btw what trasnferor has reserved and the increased psf the transferee would have to bear. Unless there is a loophole somewhere
ReplyDeleteam i the only one cancelling the booking?
ReplyDeleteU forfeting your 5K admin fee? I am not moving
DeleteWow..dun regret if 3 three years later when the price soars.
Deleteif it soar, my 88 will also soar. all will huat.
DeleteSean: U cancelling? Which unit you gotten?
ReplyDeleteB2 units will hit buy west sun. (60-70% of the room.)
ReplyDeleteBut a good curtain or good quality 3M anti solar film will turn things around.
B1 also hit by afternoon sun. (30-40%)
B4 will be able to see the new Segget river walking street. (must imagine)
And also a balcony that build accross the studio next door.
Forgot to add....
ReplyDeleteSome units from Matex will face Double Tree by Hilton. (ready 2014)
A2, A4
B1, B2
Bernard, how tall will be the hotel?
Deletegoogle and u will know.
ReplyDeleteThe 30-story DoubleTree by Hilton, Johor Bahru features 350 guest rooms and 15 service apartment units, and will have an all-day dining restaurant, a specialty restaurant, a deli café, a lounge and two bars. The hotel will also offer a business center, a fitness center, an outdoor pool, a 400-square meter ballroom, three meeting rooms and car parking facilities.
Double Tree by Hilton is only 250m away from Matex. (measure on goole map)
ReplyDeleteA least Hilton put a bit of class in the area. What is next? Four Season? Shangri La?
In future can bring friends to a good pub or resturants in Hilton.