The Peak Residences


The Peak Residences nestled into the valley of Mount Erskine, stands tall and majestic amidst the lush greenery. The Peak @ Mount Erskine, the best of living and convenience under one breathtaking garden roof at 500 feet above sea level.

Located at the foot of Mount Erskine near the thriving Fettes Park, The Peak is well tucked away from the hustle and bustle yet closed enough to all the conveniences, even on foot. With Gurney Bay in the vicinity, the view from The Peak is of the towering skyscrapers along Gurney Drive, forming the skyline of this famed water front.

Property Project : The Peak Residences
Location : Mount Erskine, Tanjung Tokong, Penang (Property for sale & rent in Tanjung Tokong)
Property Type : Condominium (Condominium for sale & rent)
Built-up Area : 1,000 - 2,160 sq.ft.
Developer : Ivory Properties Group

Facilities
Infinity lap pool, wading pool, jacuzzi, gymnasium, sauna, children's playground, sun-bathing deck, BBQ-area, garden, multi-purpose hall, games room

Photo taken by Jason Ching - 25 Nov 2013











Photo taken by BoB - 9 March 2013


Photo taken by kingswayboy - 11 Nov 2012


Photo taken by PglsGreat - 2 Oct 2012


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Photo taken by PglsGreat - 31 March 2012


Photo taken by PglsGreat - 27 Jan 2012




Photo taken by PglsGreat - 19 Nov 2011


Photo taken by Peak of the Peak - 14th July 2011


Photo taken by Peak of the Peak - 13th Sept 2010





To upload your photo here, please email your photo to apartmentpenang@gmail.com






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February 27, 2008 at 11:55 AM Anonymous said...

Please show us the quotation lists for The Peak Condominium and Apartment.


Thanks & regards,
joe_occ@hotmail.com

 
February 28, 2008 at 3:57 PM Anonymous said...

Anyone have information on this?

 
March 2, 2008 at 7:09 PM Anonymous said...

Price start from RM288K , check with Ivory sales office if you r interest ...

 
March 24, 2008 at 4:53 PM Anonymous said...

I am planning to buy 1 unit condominium. Anyone have further information. Have the project started ? When is the completion date? Wht is the range of price will it be? Any facilities?

Thanks

 
March 31, 2008 at 12:13 PM Anonymous said...

Hii all..

Can i know this condo freehold or leasehold? when completion date?

 
May 25, 2008 at 8:51 PM Anonymous said...

The Peak will commence work in 2009, projected to complete in 2013. It's a lengthy 4 years as they've got to clear the site which is hilly and forrested terrain.

It's open for reservation (10% downpayment), will likely be launched during next year CNY. Plenty of units still available. Price starting from RM288k for intermediate units and RM317k for corner units. Difference of RM1.5k every floor upwards.

 
May 30, 2008 at 6:40 PM Anonymous said...

I suggest to all potential buyers to think twice before buying Ivory's projects. Times Square's 2nd phase is not doing good and this is Ivory major project. All cashflow will go to this project 1st. Other project comes 2nd. As such, Moonlight is sufferring. Rumours have it that Moonlight project has been suspended due to unethical land clearing.
Another of Ivory's fame project is University Place. The floor tiles of some units is bulging up due to lack of cement used.
Island Resort is also facing some problems. Go visit the blog spot and you will know in detail.

 
May 30, 2008 at 10:19 PM Anonymous said...

Hi, can u elaborate wht do u mean by "2nd Phase not doing good"? Moonlight bay got suspended for some leaking water issue, but they are building a pond to act as some sort of dam to solve that problem. What about Island Resort's "problem"?

It'll be great if u could provide the links to the blogspot u mentioned. Thanks

 
May 31, 2008 at 10:27 AM Fiddler said...

This is the blogspot lah. Just read the thread on Island Resort.

 
June 1, 2008 at 10:55 PM Anonymous said...

i was inquiring about another project "the Peak".. ivory oso stated tat v hv to place 10% to book for our unit, which will b placed wit a stakeholder (their lawyer).. bear tis in mind, ivory hv d rite 2 hold on ur 10% fee 4 a yr. if project doesnt kickoff, v can claim back tat 10% wit no interest n minus any admin or watever fees they call it. i think it is absurd 2 jz let them earn interest from our 10% wit no promise d project is goin 2 start.. n v no longer back our full 10%. does any other developer implement such dirty tactic? i think ivory is desperate 4 buyer's monies to roll other projects s i dont really believe our 10% really stays wit their stakeholder

 
June 9, 2008 at 4:54 PM Anonymous said...

The Peak is actually taking over a land left behind by a failed project, Fettes Villa. The land is on a hill slope with a lot of rocks.

As of now, there is no access road to the site as it is situated behind a housing area. Based on the plan that Ivory showed me and my visit to the site, there may be delays in the project unless the builder managed to bribe the state government.

 
June 22, 2008 at 6:21 PM Multi-anonymous said...

i think there are 700 units for this one. give 10% and play a wait and see. just use some logic here, 700 units all will sold out so soon? the best approach now is to make sure the developer built to certain % (says >50%)before commits. worry not getting any units at all? u think its so easy to sell all 700 units of apartments? worry u don't get good view or etc? for middle class working ppl, its better to be safe than sorry. its not easy to earn money these days. for those with tonnes of cash, they don't mind if they make some not so right decision sometimes. u know better ur financial position. those comments above already gave you some clue on worthiness.

 
September 11, 2008 at 10:09 AM lydia said...

No news for this Condo.. Already start earthwork? How much the price? Not in property fair last week...?

 
August 13, 2009 at 7:08 PM 123 said...

Hello,
Any new on this project?
When will it be launch and how much per sq ft ?

 
September 2, 2009 at 1:57 PM Goppal said...

ivory still busy with other projects... PTS ,moonlight mountain(hahaha) the whole hill is still there but replaced with concrete and designed and people can live in there...such a massive construction and it looks crazy... whats the status of 10 island huh... like no work there only... and what about 1 island...

 
September 22, 2009 at 11:32 PM Jeremy said...

Any recent updates for this project?
Hows the pricing like currently?

 
October 12, 2009 at 4:25 PM Paulz said...

oh... now is economy crisis, mostly big company will be face it first, think of a developer company have too many projects in hand and did not have good sell, good luck.

 
October 27, 2009 at 9:02 AM Janet said...

ha ha ha. 1st block-Coral nearly all sold out left only the ,lower floor units. Those who are thinking tooooo hard missed out. Be quick for the next block! Good Luck !

 
October 27, 2009 at 10:49 AM cSnG said...
This comment has been removed by the author.
October 27, 2009 at 11:01 AM Deric said...

i js received sms from salesgirl, said that now The Peak is open for registration with 10% downpayment..
i am wondering is this project still on-going?

 
October 30, 2009 at 4:44 PM jocelyn said...

yes still going on. any buyer? discounts given. please call 0164036928

 
November 1, 2009 at 5:56 PM 2share2speak said...

commencement is end of 2010; takes about 3 years to complete.
very few units left for first block. second block will be launching soon.

for the price and the size at this area - its a good deal. medium range condo / apt of the similar spec at about 3km radius is about RM300K and some are on lease hold land. this is on free hold land. good price of a good location

 
November 3, 2009 at 9:47 PM Bali said...

Block A (Alamanda) is launching, within 1 week, almost finished! Book during launching period get 2 car park. Next launching only 1 car park, and it cost you 25k to get another one.
Ivory is going to launch another 2 blocks (Balsam and Coral), but the price is gonna be higher than Alamanda (above 300k). Different of 1k every floor upwards.
Ivory is a fully-integrated developer that does not outsource any work on its projects, from planning to managing the completed properties, to control costs, timing and quality. Some plans have deferred due to the market situation, and economy is recovering now. Moonlight is completing next year.

 
November 3, 2009 at 9:48 PM Bali said...

Nowadays now easy to get condo along tg tokong. Bear in mind, Gurney is superb expensive. Tg Bunga/ Batu Ferringhi is far for some people who work in town.
The Peak is just located in the middle. Pay 10% now, if the project did not kick off, we get full 10% back without admin fees etc. Think too hard and you missed it!
Visit Ivory office ASAP, the office beside Times Square open 11am-6pm everyday including weekend to find out and experience yourself.

 
November 4, 2009 at 6:06 PM fredphua said...

Anyone know how much is the maintenance fees? Do they offer things like free S&P legal fees etc?

 
November 5, 2009 at 12:54 PM Bali said...

20cent per sq ft. if you buy 1000sq ft, monthly RM200.
SnP legal fees will be from Ivory, their lawyer is Chow Tat Seng & Low. u can call for details 04-2288280

 
November 9, 2009 at 3:55 PM Kok Wai said...

Just wondering anybody know that we can see chinese cemetry from the balcony view at any of these blocks.

 
November 11, 2009 at 6:23 PM House said...

yeah, not sure if the cemetry around the vicinity will affect the price in future or not.

 
November 16, 2009 at 5:07 PM caren said...

Anyone plan to book a unit there? 6+6 is kinda fishy, any comment?

 
November 16, 2009 at 10:18 PM Kok Wai said...

What do you mean by 6+6?

 
November 17, 2009 at 10:18 AM Peak said...
This comment has been removed by the author.
November 17, 2009 at 10:22 AM Peak said...

Thought government going to stop n suspend all the hillside project?? Is this project was officially approved by state government? The land title ok???? Wondering why they need the 10% down-payment before the commencement.....
btw,6+6 is ok provide the 10% is not factor in during this 6+6 period. Its more secure n more convincing to those buyers if it were in this case....

 
November 18, 2009 at 12:45 PM rickinson said...

caren or peak can u explain what do u mean by the 6+6 ? i really don't understand. thanks in advance.

 
November 18, 2009 at 2:05 PM caren said...

In short, 6+6 means after paying 10%, buyer will have to wait for 6 months before they can get the SnP stamp (official launching of the peak). Failing to do so, buyer have the rights to write in and demand for refund or wait for an additional 6 months for the project to kick-off. For this project, worst case buyer will have to wait for 12 months before Ivory starts commencing the project or they will refund the 10% if they call off the project.

For softlaunch, Ivory is offering a discount of 45k + 2 cp to make up for 6+6 T&C. My personal option, the peak will kickoff eventually. Plus points, the floor plan and the location is good, price is reasonable approx 300psf for freehold, the condo is 'back mountain face sea', don't think u can see cemetry in lebuh halia but from far u can see the cemetry beside taman kristal (just like Tanjung Park). Negetive points, they might cancel the project with full refund and u wasted a year of waiting for nothing.

I plan to book one as my 1st house since I was born in that area so hope to share more with interested buyer. Feel free to drop me an email (carenlew@gmail.com)

 
November 18, 2009 at 2:34 PM Kok Wai said...

Thanks to Caren for your 6+6 sharing. Just left less than 5 units in Block A. I'm not sure whether they have already launched Block B. Better be quick.

 
November 18, 2009 at 3:08 PM caren said...

They did, block B is actually open for serious buyer. Did you book block A kok wai?

 
November 18, 2009 at 3:21 PM deric1515 said...

hi there, wanted to ask is there any promotion same as block A with 45k less + 2 cp for coming block?
How about the price as well?

 
November 18, 2009 at 4:04 PM caren said...

Same promo for early bird block B, but the softlaunch ended last week. I guess you can always try your luck by going to the sales office and sweet talk your way in getting the same promo =)

The price is from approx min 330k for 1k sf and 370k for 1.1k sf before 45k discount. Good deal for freehold.

 
November 18, 2009 at 4:49 PM rickinson said...

that is wat im worried too, visit the site today. there are a lot of kampung house's to be cleared b4 starting the project. anybody know when is the official launching date ?

 
November 18, 2009 at 9:26 PM Anonymous said...

hi caren,
U mean the soft launch for block B ended already? wat is the latest starting price for 1k sf now? last time when i asked them, starting price is abt 320k

 
November 18, 2009 at 10:13 PM Peak said...

Not further to the project is nice not as its a bit too early to judge because even the site is not really ready at the moment. But, the management (Asst General Maneger, Ms Lye)'s attitude really "not so correct". The way of communicate, the explaination really makes people dissapointed. The way of they doing things is not flexible and not reasonable! She is not professional!
Basically I am from sales and marketing. This kind of character/ attitude towards customer today is totally out. As a win win situation, hope the top management really look into this seriously in order not to "spoil" Ivory's market image!

 
November 18, 2009 at 11:13 PM Anonymous said...

last 2 week i went to the office and block A left with few units only..waiting for block B launch...

 
November 19, 2009 at 9:42 AM House said...

there is cemetry around that area. does anyone know if it'll be near or far from The Peak?

 
November 19, 2009 at 10:17 AM Peak said...

House, yes u r rite. There are cemetry there. Its about 200-500 meter (in straight line) away. I believe u can see it in certain angle.
As per what Caren said, is same as Tg Park. U can see cemetry in Tg Park as well and even Grand View or Marina Bay also u can see the cemetry in certain angle.
;)

 
November 19, 2009 at 11:10 AM House said...

hi Peak, may i know whether the cemetry is in front or behind or side of the site? you seem to know the place very well so appreciate any info from you.

btw, do you think this is a good buy for own stay plus investment. it seems like house prices in penang never dip but only go up. my parents like the location of The Peak but i'm hesitant with cemetry surrounding. i thought tanjong park is much further away from any cemetry. the other place i'm considering is gurney park but i heard it is difficult to go in and out especially during weekends etc.

 
November 19, 2009 at 12:05 PM rickinson said...

the balcony is facing the hill and sea view, (facing marina bay sunrise tower) but as caren said u might or will get a bit view of the cemetery beside kristal point. the swimming pool and other facility's is in the 6th floor, if not mistaken u will get the view of the cemetery in jalan halia. overall i dont think its that worst. correct me if im wrong.

 
November 19, 2009 at 1:21 PM House said...

now cannot even see the site so not sure exactly where it is. price wise it's reasonable for the location. it is near town but yet not too congested.

does anyone know how much are the apartments (low rise i think) along jalan gajah area?

 
November 19, 2009 at 2:17 PM caren said...

Target to launch during CNY2010. As for the kampong, don't think they need to clear the houses cause from the location site mab, the kampong is not included in the build-up area.

Softlaunch is only for block A but since block A almost sold out (only low level left), they open block B for booking. Not sure if you still can get the 45k discount, but you can always drop by the office and check it out.

From the location mab, all the balcony will be facing Gurney Drive and since its single loaded, the cemetry in lebuh halia will be on your left. Hope the info helps =)

 
November 19, 2009 at 2:20 PM caren said...

Hi House,
In jalan gajah the only low rise I can think of is villa batu bukit. RM300k plus for 1k sf I guess. If you don't mind leasehold, then you can go for Brezza, RM380k for 18Floor with 1250sf =)

 
November 19, 2009 at 3:17 PM House said...

caren, thanks for the info. i'm currently stationed out of penang so cannot go back to check. and this is more for my parents to stay - location wise i find it's good. conveniently located with short drive away from town. did you book 1 yourself?

the brezza is also very nice location but i don't like leasehold property. i was reading the thread on the brezza. wonder if they are able to convert to freehold like e&o.

 
November 19, 2009 at 4:04 PM Peak said...

Basically, the state goverment is encourage all lease hold properties to convert to freehold. But there are a big sum of money have to be grant to the state goverment in order to do so. This is also the developer's concern which most of the developer's do not wish to pay this amoung which is not direct benefits to them.
:)

 
November 19, 2009 at 4:10 PM Peak said...

Any buyer here? Dont mind to share your point of view over this prop? Thanks.

 
November 19, 2009 at 4:12 PM caren said...

Yes I did. If your folks like the location, then you should book one. But make sure they know how to drive cause from the location, they might need to walk fair abit to get to the main road for public transport. I use to live there when I was small but the construction of Puncak Erskine force me n my folks to move.

For Brezza, last I heard (a month ago) from the sales personal from UDA office, the application for freehold was turn down by our state gov.

Maybe you can try and call the sales office for info. Or you can call the lawyer (Chow Tat Seng) directly. Heard that they are helpful as well. Peak, any input? =P

 
November 19, 2009 at 4:18 PM Peak said...

Just get some updates. Not sure how true it is... The quote is the price will increase by 20-30k (from the discounted price) when the project launch approx next CNY......

 
November 19, 2009 at 4:25 PM Peak said...

Well Caren, the lawyer was very helpful and professional....

Btw, does any one know how is the traffic (entrance at Jln Halia)especially during the "Cheng Beng" time? Will it be a problem go in and out during the period of "Cheng Beng" as there are a cemetry at right side of Jln Halia....

 
November 19, 2009 at 4:38 PM caren said...

-.- you don't know meh?

 
November 19, 2009 at 4:40 PM House said...

my parents drive so transportation is not a problem. however, i am wondering if there will be congestion at the road leading in next time when cars might park on the left and right of the road.

also, point about cheng beng congestion is another to take note but at least it's only a short period and once a year. not so bad.

do you think good to buy with seaview (and possibly can see cemetry) or not?

 
November 19, 2009 at 5:08 PM rickinson said...

peak i dont think the cheng beng issue gonna be a big problem as its a few days period in a year. i live in jalan halia b4, not now. i dont see its a problem for not buying the property. but as wat caren said if u depend on the public transport then u need to do a lot walking. :)
house, yes if u can see the view of the sea then u are sure to get a bit view of the cemetery beside kristal apartment, that is what was told to me by the sales ppl, there.

 
November 19, 2009 at 7:40 PM concern said...

wow! near cemetery area you guy not scare in Hokkien call "IMM A Tay" luck or health will effect, good luck.

 
November 19, 2009 at 7:56 PM rickinson said...

concern, there are a lot of double story house's facing directly to the cemetery and these folks are staying there for ages, i dont see any problem in them as u said. :) maybe its a personal view one to one ....... uppl may own a super condo or super bunglow, but cementary is the last place where every human gonna end one day ! :) ( just jokin, no hard fellings pls)

 
November 19, 2009 at 9:03 PM Peak said...

Rickinson/ House/ Caren, yes think the cheng beng is not a big issue........
Yupe, with this price and location, think the price is worth it.........

Concern, as long as we never do bad things, nothing to scared lor....... Think all depends on ourselves...Dont u think so?
:)

 
November 19, 2009 at 9:08 PM Peak said...

Another suggestion, we form the holiday group and we go for holiday tours during the cheng beng time.... Its just meant for all The Peak resident to join.... Then the Cheng Beng congestion issue settle..... Hahahaha.....

 
November 19, 2009 at 9:52 PM Chia Lih said...

Peak, please include me in your holiday group then! I booked 8th floor. The rest of you, which floor are you?

 
November 19, 2009 at 10:04 PM Sun said...

No need to do bad things, these things just past by beside condo near their bungalow (cemetery) or the person with dim star inner human body(how we know when dim or bright), will see it, 2nd how we know whether the residence over there having problem, do they advertise in news paper? Strange things happen in this world cannot be interpret by Scientific, good example can we see wind?

 
November 20, 2009 at 12:04 AM Peak said...

Chia Lih: Sure include you.. Lets form the commitee.... LOL..... U in 8th floor of which block?

Sun: If like what u r saying, "those bungalow residence so natural like wind, its nothing to scared of. Good example do u scared of wind? Pls allow me to further explain, I do agree there is a spirit in this world. In scientific point of view, scientist named it as frequency wave. Those who see spirit/ ghost is due to thier frequency wave is "near" or similar to the spirit. So they can see them. In general, the spirit wont do anything to us. Its all bcos of the imagination makes ones feel like the spirit is against them. Dont u agree?
Furthermore, we should pay our respects to those who was staying in the bungalow there for what they had done before. May them rest in peace..... Sooner or later, all of us one day will go to the same place as them also........ Right?
:)

 
November 20, 2009 at 9:19 AM rickinson said...

good one peak ! agree with u 100% !

sun : yes i know that ppl wont advertise in paper when they have a problem, but if there is a problem, ppl wont be staying there anymore, more worst the property price (double story house) will drop tremendously. house's in lengkok halia are selling at rm500k, wat can i say anymore.......

 
November 20, 2009 at 11:57 AM Peak said...

Hi Rickinson, Thanks for your support....
:)

 
November 21, 2009 at 1:48 AM Peak said...

Dear all buyers, does anyone inspected the "Building Plans" and the "Layout Plan" before the payment of the Registration Fee??? If so, does anyone have any comment after inspection of those plans? Kindly share. Thanks.

 
November 21, 2009 at 11:53 AM rickinson said...

i heard all units get 2 carparks, but they f&b type. (front and back). is it true ? for the front car to move , the car at the back need to move 1st....

 
November 21, 2009 at 4:17 PM Peak said...

Rickinson,u r rite. The car park is f&b type.... But does anyone know where is the location of the pump room?? Where is the location is the TnB room and etc......

 
November 22, 2009 at 11:21 PM monkey said...

i am a serious buyer here few question wana ask all the " old bird"

1. the road from traffic light till the building very dark la,safe bo?

2. this project is not interest free during construction, worth bo?

3. the project is near the hill, ok bo?

4. the down payment is 10% but not 5% , will too high bo?

thanks

 
November 23, 2009 at 12:51 AM Peak said...

Monkey:-
1. The developer going to widen the road to 2 lanes right, 2 lanes left. By then, should be not that dark...

2. Some banks still can offer 0% interest for 1st year(just checked with some banks last Friday). Anyhow, still too early to mentioned about the interest as the developer yet to announce which is the panel bank. By the announcement, the bank should come out with an attractive package.So not to worried too much.

3.Ivory builds hill project should be ok. Other developers, no comment.....

4.I think most of the down payment for prop in Pg is around that. But Ivory takes 10% before the "official launching" is a bit high in the sense they havent stamp the SnP but the money already paid. In between, they gain another 6-12 monts time.
If u compare with the price now, then my personal opinion is still acceptable.


Hope I answered your question, Monkey.
By the way, I m not from the developer. I m a buyer also. Just paid the down Payment last week. So all the question u ask, I ask myself also before I made my decision. I checked lotsa info and i found that is a worth investment as per my personal point of view. Wish u join me as a neighbour in a very near future....
:)

 
November 23, 2009 at 1:00 AM Peak said...
This comment has been removed by the author.
November 23, 2009 at 12:09 PM Peak said...

Think I m going to claim the commission from Ivory by a free advertisement (Q & A) here...... Hahahaha........

Anyway, If anyone have any info to share and its not convenience to post it here,can always email me at peakofpeak@gmail.com
:)
Thanks....

 
November 23, 2009 at 12:20 PM Anonymous said...

peak,
have they open blk B for sales. If yes, any changes to the price/discount package for blk B compare to A.
am still under consideration...

 
November 23, 2009 at 1:09 PM Peak said...

Block B is open for sales. Price for block B is slightly higher compare to the earlier Block A price. The discount, u can always check with the sales office. Maybe the discount package still available. But not much nice unit left for Block B.

:)

 
November 23, 2009 at 3:40 PM rickinson said...

if im not mistaken one of the panel bank of theirs is maybank.

 
November 23, 2009 at 11:19 PM Peak said...

The panel bank should be maybank and ambank as per what I know....
:)

 
November 24, 2009 at 1:09 AM monkey said...

thanks peak, really appreciate ur answer.
anyway still doubt about this project cause paper today publish that they have court case for this project and thats why they not fully open for sales and start pilling.
anyways i will go to ivory this week end to have better understanding.
Start from which floor will have better view, which unit is nice? i plan to take the Block B la.

 
November 24, 2009 at 2:42 AM Peak said...

Hi Monkey,

Yes, I saw the news also... Its more on the compensation between the ex-developer/ buyer and Ivory.... Wish Ivory will handle this with cares. Will check with the lawyer tomorrow and will update here for the latest news......

For the better view, I think 15th floor and above should be a "full view" as the small hill located not far away is approx 13th floor's height..... About which units, I will say it will be more depends on the personal preference. Not much I can comment here...
:)

By the way, do u beleive in "Feng Shui"? If so, maybe u will get a better idea on the location of the door/ kitchen's direction/side........ Again, this is a very personal act of preferring......
:)

 
November 24, 2009 at 2:07 PM rickinson said...

just got to know about the court case tru this forum, pls update us on the issue, mr.peak. give us the good news :) ! thanks.

 
November 24, 2009 at 8:46 PM Anonymous said...

have anyone enquire about the bank loan? I heard maybank and public bank is offering but not sure of the package. Anyone have any idea abt the rates offered by maybank and public bank?

 
November 24, 2009 at 11:59 PM monkey said...

any idea when the discout will discontinue, i wana make decision this week liao but still afraid good unit finish...

 
November 25, 2009 at 11:45 AM rickinson said...

no comment on the discount deadline, to be accurate we need to confirm frm some one inside ivory. they will know the trick. :)

 
November 25, 2009 at 12:07 PM Peak said...

Rickinson, not much affect on this project on the court case news. Its about few of the previous purchaser they do not wish to continue with this project and they are seeking the refund of the earlier down payment towards the ex-developer. "They" request Ivory to refund the down payment which they paid to the ex-developer. But Ivory had awarded the court order on Ivory's side. Anyway with a goodwill service, Ivory do compromise and propose to the previous purchaser to continue with this project and they will absort the downpayment but not in cash refund.
Basically, this is not much affect to the current project status...........

Monkey:- No idea on the discount deadline also. I think its more depends on Ivory's management decision. I believe, if the total unit sold/booked hit some numbers (Quota), the discount package will end anytime. About what is the quota, really no idea...
:)

Anonymous:- Haven't really go and apply the bank loan as this project still under preview status. Even u submitted your document request the bank to proceed and u get the approval, the developer's lawyer also will not further proceed until the S&P stamped. So when the S&P get effective, the bank package might change by that time. Off course we can check on the bank loan package now, but its just for our reference only..

:)

 
November 25, 2009 at 7:49 PM rickinson said...

u made a relief on the court issue, thanks.

 
November 26, 2009 at 9:52 AM monkey said...

Finally i book already....

 
November 26, 2009 at 10:28 AM Anonymous said...

Hi monkey, do they still provide 45k discount and 2 car park? which block u book?

 
November 26, 2009 at 11:45 AM Peak said...

:)

Monkey, Welcome to join the neighborhood.....

 
November 26, 2009 at 11:50 AM concern said...

To those who believe, especially to "R & P".

PEACE with the environment is a criteria for healthy homes and every resident should create a balanced surrounding so that his or her mind, body and soul are in harmony.

“This is important because we all experience physical and mental stress every day at work and returning to a home that is not in tune with the environment can add to the stress,” said Sunday Star Vasthu Sastra columnist T. Selva, who will be presenting a talk at The Star Property Fair tomorrow at the Kuala Lumpur Convention Centre (KLCC) Hall 4, at 2pm.

He said Vasthu, better known as Indian feng shui, essentially helps balance the man-made environment with the natural world.

Selva said Vasthu was a science of architecture and it could be applied in any space, enclosed or open, and it is highly recommended when buying, renting, building or designing a property.

“When renting or buying a new or second-hand house or apartment, Vasthu recommends that one should check certain things before making a decision.

“The first thing one should do is to enter the property and stand in the centre with eyes closed to feel the ‘vibrations’.

“If the vibrations make you feel happy, then check the directions by using a compass in which various elements of the house face,” he said.

He said a potential house buyer should check which side the plot faced, the location of the roads, topography, plot extension and the surrounding area before making a commitment.

“A house facing north is favourable as it is on the magnetic axis and welcomes positive energy. Land sloping towards the north is also considered auspicious.

“A house facing south is average for residential purposes but auspicious for people in the food and beverage business. Land sloping towards the south is considered inauspicious,” he said.

Selva, who has written two books on Vasthu, said a house facing east was auspicious because it received solar energy and if the land was sloping towards the east, it was considered auspicious.

Selva said out of the eight compass directions, the only direction that should be avoided for a main door was the south-west.

On buying a plot of land, he said do not buy a plot of land that has a graveyard either in front or at the back of it.

“Such surroundings will only bring fear and give no peace of mind to the owner.

“Buying land near a place of worship should also be avoided, especially if the shadow of a temple falls on the property.” he said.

At the talk, Selva will be showing participants on how to choose an auspicious property and how to create the perfect home by rearranging a house.


http://www.starproperty.my/PropertyScene/PropertyScene/803/0/0

 
November 28, 2009 at 12:06 AM monkey said...

Hi peak, we will be neighbour in future. Let us cooperate and be a good residence in the peak, i really can not tahan my current apartment now, a lot of uncivilise residence, smoking in the lift,park thier car in yellow box, put all the unuse things outside the corridor, they split from the top, outsider come in the swiming pool......i feel like i live with all the tarjen and this is really enough for me, i willing to spend more money, take more commitment to stay in better area.
i book the block B , the 45k still got but don know when will discontinue. My advice is the peak is suitable to stay but not to invest(short term won give u a lot of profit cause the area haven really develope yet and investor have to take 10% downpayment and no interest free during construction, so investor please think twice, residence are welcome. finally if u think the place is near to graveyard and is not good feng sui, please go away, don ka ka cau cau. my grand grand mother is "stay" there, she will pray for me and give me good feng sui . thanks

 
November 28, 2009 at 12:34 PM rickinson said...

block C is open for bookings.

 
November 28, 2009 at 4:56 PM monkey said...

is it got the same promotion ?

 
November 28, 2009 at 6:08 PM rickinson said...

not sure la, got the info frm my friend who just went there for visit. they told him property will ready in 4years time, i though 3 years.
monkey is block b mostly sold out when u bought yrs ?

 
November 28, 2009 at 6:21 PM nejnoj said...

when i was there to make payment on last wednesday, about 3/4 of units in Block B has red stickers... supposedly 45K discount would still be valid till end of this week.(supposedly).. i don't think the discount is going away anytime soon..:-) at this rate i don't think they need even launch during CNY...

 
November 29, 2009 at 1:11 PM Peak said...

Block C open??? I m at Ivory office yesterday, but as what I know from the sales there, Block C havent open........ But as I look at block B, its more 50% booked...........

:)

Monkey: Btw, where do u stay currently?

 
November 29, 2009 at 11:16 PM monkey said...

today i going to ivory again but they say block c haven open ler. block b is almost sold out for the lanai type except very low, very high and not nice number floor only, balcony still available and corner still have alot. i am currently stay at paya terubong

 
November 30, 2009 at 11:59 AM rickinson said...

realy, how come my friend told me block c is open ???? mine is also in block b. when i heard block c is open, i was happy. thought its selling like hot cakes and they will kick of the project soon..... hehehe. anyway i think the respond for this project is good.

 
November 30, 2009 at 10:30 PM Kok Wai said...

Peak,

Since the car parks are F & B style which should be entitled per buyer, why the Ivory sales representative claimed free 1 car park during this promotion early bird period? Just want to clear my doubt. Thanks.

 
November 30, 2009 at 10:56 PM Peak said...

Kok Wai:- The free 1 car park meaning of free one lot of F&B car park lot.....
I m not sure after the promotional period, whether the unit price will include the car park lot. Maybe they will seperate the price for the car park lot...... Anyway, the sales rep should claim it this way "The unit come with 2 car parks which is front and back type" instead of "free"........

:)

 
November 30, 2009 at 10:59 PM Peak said...

Wow, this blog for "The Peak Residences" officially reached 100 comments..........
:)

 
November 30, 2009 at 11:04 PM Kok Wai said...

Thanks Peak. Well, it's kinda troublesome for us in such way. It would be different story if we gonna have 2 F&B car park lot. :p

 
November 30, 2009 at 11:42 PM monkey said...

front and back really susah sikit, but with this price i think is resonable, if not they sell u one car park at RM 20000, lagi teruk lo. my advise is bring two key together when going out, haha.

to all the buyer, any idea regarding the loan, which bank provide lower rate, what is the offer, we need to do this before year end cause afraid the goverment change the rate next year.

 
December 1, 2009 at 10:56 AM Kok Wai said...

Monkey,

Do you have any idea whether we can buy extra car park?

Trouble in the sense that if you stay with your friend and do not want to share the car. So either your friend going to car park with you (better) or you help your friend to relocate the car and then going back all the way to your unit just to return the car key. :(

Regarding bank loan, I believe Mr.Peak has already explained to you. This project is still under preview status and not listed in bank yet. :)

 
December 1, 2009 at 3:14 PM Peak said...

Hi Monkey/ Kok Wai,

Last Saturday when I was in Ivory, Maybank personel is there.. They offer 2 package.

Package 1, -2.2 BLR, legal fees waived and bond 5 years upon OC.

Package 2, -2.3BLR, NO legal fees waive and bond for 3 years upon OC.

Both also not that interesting. Maybe can wait for the 2nd panel bank to come in. Then the rate might adjust a bit. Again, as I mentioned earlier, the lawyer will not further proceed until the S&P stamped..

:)

 
December 1, 2009 at 10:27 PM monkey said...

kok wai i am very sorry i don have the info, i nearly forgot if the two car is not belong to one owner cause my situation is i stay with my spouse ma. haha
peak, so which mean we no need to sign any letter of offer meh ?

 
December 3, 2009 at 1:26 AM Peak said...

Monkey:- What do u mean by no need to sign any letter of offer? Thought everyone of us(the buyer) signed the letter of offer when booking........

With the letter of offer, we not able to proceed with the bank loan.... I mean not able to proceed and doesnt mean we cannot apply. We still can apply for bank loan, but even bank approved the loan amoung, also we are not able to get the loan "started"... Just imagine, if our luck bad, this project does not kick off, then are u willing to pay the interest for nothing? The bank/ government also does not allow u to do so even u r willing to......

:)

 
December 3, 2009 at 3:02 AM Peaky said...
This comment has been removed by the author.
December 3, 2009 at 8:56 AM Peaky said...

For those of you who wants to buy The Peak, think carefully. This is my experience, initially I was okay and interested to invest with 3 of my friends as neighbor. Later, I called and was so disappointed with Ms Lai's (asst GM) attitude and starts to think about it again. Please note of the followings..

1) They said once we pay the 10%, we can change our mind 2 weeks before the 6 months expiry. They confirm that the documents will be given to us. When probe further, they said you cannot change your mind earlier or later than the 2 weeks time given. They also require you to write in and they will "appeal" for you to get your refund. Does that means you will surely get back your money? Also if you cannot get the % of loan you need or wish to have, you cannot get back your money. So it is not guaranteed that you will get your money back. You only have the ‘right’ to write in and demand only.

2) I asked Ms Lai to allow me to take the documents back but she said cannot. I must sign and pay the RM5K first before I can take the documents that mention about the 'guarantee refund' if you change your mind. I told them that IJM and CA Goh allows you to take back the documents such as S&P but Ms Lai said she don't care how other developer did. Imagine if I sign and pay the RM5K or 10% and to realised some terms that is not fair to me, GONE!!. She also said 'Ivory lawyer' will attend to us but how can Developer's lawyer act fairly for buyers? They might not tell you the fine lines. If they have nothing to hide, they would have been open with that 'guarantee refund' documents.

3) This land is still belongs to the previous developer who has bankrupt. Whether or not Ivory can get the ownership transfered, nobody knows.

4) Ivory is also waiting for people to start booking to reach certain percentage before they can show the bank to loan them money to start this project.

5) This project is near to cemetery that means if you are okay with it, then it's not an issue. Check it out and see if you guys are comfortable before purchasing.

6) Mostly block A is taken up is because those who bought earlier project that got abandoned had no choice but to buy it otherwise their earlier deposit will be forfeited. So block A is sold mostly by owners for this abandoned project that worth RM120K before.

8) With issues on point number 3 and 4, you now know why they have 6+6 months? They needed time.

Good luck for those who has purchased and hope all will go smooth... for those who is looking at it, you can still decide if the above is okay.. Make sure you walk in with your eyes open....

 
December 3, 2009 at 2:16 PM Anonymous said...

Peaky and the rest,
I definitely agree with your points and feedback. Ivory looks reluctant to reveal information to buyers. I believe there is a hidden agenda behind them. They only keep on rushing ppl to place a booking. I do agree some of the staffs attitude is really bad.

Well, i have actually place a booking due to the reasonable price based on the current market. I just hope everything goes well.

Every project sure have pro and cons, its just a matter of whether the person could accept the cons or not. Lastly, make your wise choice, i have made my choice.

 
December 4, 2009 at 12:46 AM Peak said...

Peaky:-

Let me have a wild guess. I believe u are one of the earlier developer's buyer............

Anyway, I do agree on certain point that u mentioned above. Pls allow me to further clarify.....

I, personally have a very bad impression towards Ms Lai also. The attitute (as mentioned earlier in my comment above) is really have problem. But, some of your points i might need to clarify here.

About the land owner, its NO longer belongs to the earlier developer. Its now under the premisses of a semi-government company who is doing the ownership transfer which land and housing council had approved.

Off course the developer's objective is mainly target on the sales. For terms and condition in the letter of offer, its ok. Let me further clarify on the developer's lawyer. The lawyer is a close relative of Ivory's director! But further to this, I had checked the contents of the letter of offer with my personal lawyer. My personal opinion is all the terms is acceptable.

By the way, we cannot compare the terms for The Peak with other developers. Its not really fair. If u mean to compare, just compare with some of the developer's practise in Mainland. I can say if u do compare, u will not get any prop in Penang Island. It's depends on case to case and the "value" how u measure on it...

 
December 4, 2009 at 9:10 AM Anonymous said...

Hi Peaky,
I'm not the earlier batch of developer's buyer. i'm a new buyer for this project. By the way thank u so much for the clarification that you made in this blog. I'm sure all of us are happy to know more information regarding this project and you definitely have provided us a very useful information to the buyers.

Some clarfication on your last statment regarding the terms comparison. What do u mean by the comparison with Ivor vs other developer's practice in mainland?

 
December 5, 2009 at 1:22 AM Peak said...

Dear all,

"Peaky" and "Peak" is 2 different individual. I did NOT know who is Peaky...... Pls dont make ppl confuse here........

 
December 5, 2009 at 2:06 AM Peaky said...
This comment has been removed by the author.
December 5, 2009 at 2:14 AM Peaky said...

Yes, Peak and Peaky is two different person.

Hi Peak,

This project may still be potential looking at the location. I am glad you are one who goes in with eyes open. I was initially interested but after Ms Lai's attitude, I have turned cold and advised my other friends to consider but usually they would follow my foot step considering I have made many positive decisions before in property investments. That is why, it is important to hire good staff. I am an investor and this project is not the only project I can invest in.

Thanks also for the update on the land title, they did not say the land belongs to them and hesitated when I asked on the ownership. You can tell that they are not comfortable or confidence when answering. That prompted me to think that the land belongs to the previous owner.

Yes, It's not fair to compare terms and I wasn't going to. I just want to ask them to let me take back the letter that guarantee you to take money back after you have signed and I think this is important. I want to be on the safe side by showing to my lawyer but Ms Lai said sign then only can take out. As a purchaser, this sounds 'fishy'. Other developer allow you to feel confident when they confidently let you take the documents that your requested home like CA Goh and IJM. Ivory sort of acted like inferior to these two company. Ms Lai said," I can't entertain your request because if everyone do that to Ivory, then we would be very busy". So disappointed with her reply. They want to remain easy working. To me, there is a lot of excuses to protect the documents from leaked out. If I really want, it would not be difficult for me to get hold of one. But it's okay now.

 
December 5, 2009 at 1:13 PM Peak said...

Peaky:- Great............
Anyway, as an investor, is it wise enough for not invest in a prop just bcos of the developer's sales personal attitude? Is that the major concern for an investment? Thought should be judge in many angle with open-hearted and flexibility....... Dont u agree?

By the way, as an investor, u should know it very well that Ivory is a "secretive" type of developer. Thought this is their so called common practice......

:)

 
December 5, 2009 at 4:42 PM bryan said...

Hi all,
I think the land might be belonging to OHM groups. and most probably it is a JV project with Ivory. You can check their website http://www.ohm.com.my/UPCOMING.htm, look at the tanjung tokong project, the picture is exactly same as the peak.

 
December 5, 2009 at 6:35 PM Peaky said...

Peak,

True to what you say. It is not wise just because of the attitude but I think because I bought Tanjung Park before and almost kena cheat, I am a bit paranoid with Ivory. Considering Ms Lai is asst GM some one with high post and acted this way, I rather not take risk just in case lah. I already have better project to invest now. Good luck Peak...

 
December 5, 2009 at 10:47 PM monkey said...

hi all, i receive one news that ivory will build a low medium cost flat around that area, but i am not sure where is the location exactly. Any more information all bloger ?, so sad la when i get this news, the ivory really don disclose more information about the project,for example what is the tiles size given, is it the toilet giving tiles till ceiling height,etc. hopefully if any ivory officer that seeing this blog can give more info to the buyer.( Like belleview this week lanching All Season, they provide proper launching and answer all the question very well)

 
December 6, 2009 at 12:29 AM Peaky said...

Monkey,

Ivory will build a low medium cost next to Block A. Please note.

 
December 6, 2009 at 4:12 AM Peak said...

Hi Monkey,
The medium low cost is just next to Block A as per what Peaky said..... But its a low rise, (approx 13 floor height only). Opposite The Peak, at the hillside, there is another vacant land which they are going to build a high cost condo/ landed. Developer yet to finalize on this project.......

For floor tiles, they provide 2x2 ceramic tiles. The toilet, tiles will be till false ceiling height.... U can always refers to "Schedule 3" with Ivory.........

If u really want the info, maybe i can email to u by next week. I have a copy of some useful detail/ document with me..........

:)


Peaky:- Understand your concern..... To invest in a property, the most important thing is self comfortable... If u dont feel comfortable, no point to take the risk. Its meaningless at the end of the day.........
anyway, what other good investment in your mind? Dont mind to share your opinion? Or maybe u can send me an email to peakofpeak@gmail.com if it were not convenience for u to disclose here..... Thanks anyway....

:)

 
December 6, 2009 at 12:33 PM Anonymous said...

Hi PEAK-

Drop by at the office and heard that the discount package is still the same. Block B abt 40% taken up/booked. In fact i have not hear from them that there is a low-cost apt. going to e build there. Probably you can send me more info abt the peak.

I heard maybank and RHB is offering the loan package and buyer and sign the offer letter as interim while waiting for S&P stamping. The bank loan interest might interest from 2010 but not sure how true it is. At least we can reserve ourself a better loan rate just in case. Anyone have apply for the loan and sign the offer letter. Mind to share out the loan details?

Hi Peaky,
Probably if u dont mind, share with us wat are the good investment that u have you invested at present. Thanks in advance.

 
December 6, 2009 at 12:48 PM Heritage City said...

Be careful.. lots of $$$ involved..

 
December 7, 2009 at 12:13 PM Ozi said...

Peak,can u e-mail me the info as me n my family maybe wanna get 2 units there...but the sales person couldn't provide us satisfactory answer when we ask them questions like size of the tiles and etc...plz e-mail to ong.hsbc@gmail.com
tks....

anonymous:u may submit ur application and if the bank approve u,u may get the current rate....even if u sign the letter offer next year....tks...
u can ring me up to ask me bout what HSBC housing loan is offering now...
I'm ozi(012-402 0277)

 
December 7, 2009 at 3:36 PM House said...

yeah, peaky... if you don't mind sharing what project you know that is good, that'll be great. or else, you can email me at penanghouse@gmail.com.
thanks!

 
December 7, 2009 at 11:15 PM monkey said...

peak this is my email monkeygoaround@gmail.com

thanks first

 
December 8, 2009 at 12:52 AM Peaky said...

Currently I am looking at The One. Phase two. Go check it out.

 
December 8, 2009 at 8:26 AM Tan said...

Helo. I am looking for house in Penang and recently i come across this peak project and four season. Actually when my wife and i compare this 2 project, i myself look at the every detail of this 2 project. Not deny that the location of four season not really so good compare to the peak but in term of other things like density, convenience, facilities between walking and driving distance, the four season still is the best. finally i make up my mind and i book four season.

 
December 8, 2009 at 4:22 PM Peak said...

Peaky:-

The One by IJM, @ Sg Ara????

 
December 8, 2009 at 7:10 PM Peaky said...

No Peak,

One Residence by Ideal properties. Next week soft launching. Now open for purchase. Phase one finished. I just book today. Go see the show house and be impresed by the offers...

 
December 8, 2009 at 10:31 PM Kok Wai said...

Peak,

http://www.apartment-penang.com/2009/09/one-residence.html

 
December 8, 2009 at 11:37 PM Peak said...

Kok Wai/Peaky:- Thanks and noted the project. Anyway, its a different category.......

Ozi/ Monkey:- Will scan and email you guys the doc by this week....
:)

All buyers:- Maybe we can plan a meet and we come out to share some info and keep each other updated.... What do u all think?

:)

 
December 9, 2009 at 11:11 AM Kok Wai said...

Peak,

Please send to my email as well.
ckwai18@gmail.com
Thanks!

 
December 9, 2009 at 4:34 PM ronoldyeoh said...

Peak,

I am also the buyer, please send to my email as well.
ronoldyeoh@gmail.com
Thanks...

 
December 9, 2009 at 5:02 PM Tan said...

Recently i hear gosip from my friend that there will be total of 6 blok under that development where including low cost. But i not sure.

 
December 9, 2009 at 9:04 PM Peak said...

Tan:- As u said, its gossip... Yes, the 3 blocks of The Peak + 1 block (low rise) low cost apartment.... The vacant land in fornt (at the front door side) of the Peak, will be a high cost condo, under Ivory's future development project. But that one yet to confirm and finalized.
Btw Tan, understand u booked all season.. Do u get the 20k discount?


Ronold/ all buyer:- Wah, so many people i need to forward to........ Anyway, will try my best to email out by this week as my scanner got some problem here...........

 
December 9, 2009 at 9:10 PM Peak said...

Dear all,
Pls allow me to share more info..... Ivory going to build a "tourist mall" opposite Island Plaza, beside Tanjung Park, at the Ivory temporary glass office there. This tourist mall most probably will be at about 6 floor height (something same as Island plaza). This will be a value added project for "The Peak" in terms of the property value.....

:)

 
December 9, 2009 at 9:28 PM Wayz said...

Hi Peak,
Kindly send the document to me as well, my email is wayz223@gmail.com.

Thanks for your valuable information.

 
December 9, 2009 at 10:55 PM mark said...

Hi Peaky,
U said tat u've booked 1R. I've been going through 1R blog and seems tat there're arguments regarding Strata Title and Individual Title of the house.....Just wonder do u consider about tat and is tat an issue.....? Thanks....

 
December 10, 2009 at 1:08 AM Peak said...

Peaky:- Not mistaken, u did mentioned u r an invester.... How is ur previous investment goes? Good luck and wish ur future investment is +ve........

:)

 
December 10, 2009 at 1:29 AM Peaky said...

Yes Mark. As an investor, this is not an issues for me at all. I used to own one property with individual strata title. I had to pay upfront 10+k. With share strata title, I don't have to. Like one of the blogger said, it has it's advantages and disadvantages and not one size fits all. I have no problems with that. Cheers

 
December 10, 2009 at 1:32 AM Peaky said...

Peak,

Thanks for your kind wishes and same to all the Peak residence investor and home owner too. So far I have invested many properties such as Tg Park, E&O and Baystar... (all first launching) check out what happen now and you will know.

 
December 10, 2009 at 7:59 AM Tan said...

Helo Mr. Peak.

Ya, i book the the four season during the soft launch. 20K Discount. About the 6 blok, seriously i not sure as just i hear from a friend. any how for me the Peak is in good location and that area is driving distance to beach.

 
December 10, 2009 at 7:59 AM Heritage City said...
This comment has been removed by the author.
December 11, 2009 at 1:33 AM irene said...

Peak,

Could u pls send a copy to my email as well, just booked a unit last week.
TQ. ^_^

irene_yh1213@yahoo.com

 
December 11, 2009 at 9:52 AM feikuo said...

Helo guys..I am 1st time buyer and i wish to ask all the senior, overall pictures the four season and the peak which is more ok? i not local. thanks

 
December 11, 2009 at 10:27 AM Photo said...

hi all, can some 1 gv me some comment on condo in penang? lately i do check a few new launch condo. i need advice from u guys, now im looking on the peak, the oasis and all seasons. which 1 is better cos 3 also bout 1000 sf. n d price is around RM300k, pls gv some real comment ya. thks.

 
December 11, 2009 at 10:38 AM Peak said...

FeiKuo,

If compare in the sense of location. Peak off course is a very good living area whereas All Season u will suffer and headache for the traffic jam issue. For the layout, its all depends on individual preference. For the $ u pay for All Season to get a property in Air Itam area, I think u have many choice still......
Well, not much and not fair for me to comment more here as I m The Peak buyer. Off course I will be say The Peak is better as this suits me more.

Photo:- The Peak and All Season is "Free Hold" property and Oasis is "Leasehold". Not a concern if u dont mind.....

Lastly, if compare the completion date, I think will will be the longest (min3.5 year from now)...........

 
December 11, 2009 at 10:40 AM Peak said...

Sorry. Further to my post above, I mean The Peak will takes the longest period of completion.

:)

 
December 11, 2009 at 3:30 PM feikuo said...

Mr. Peak.

Thank you alot. It very usefull to me. Personally I like the Peak where is near to Batu Feringghi.

 
December 11, 2009 at 5:59 PM Windy said...

Hihi...
i am 1st time buyer. i m looking for 300k FREEHOLD condo in penang island. still consider on whether to make a reservation on The Peak. Next weekend is property fair, any promotion will be offer?

 
December 11, 2009 at 11:42 PM monkey said...

MBB offer 2 type of rate
1. pay legal fee and BLR -2.3% (tie 3 years)

2 no need to pay legal fee and BLR -2.2% ( tie 5 years)

i am not investor, which one sound better ?

 
December 12, 2009 at 2:37 AM Peak said...

Hi Monkey:- By calculation based on own stay, Package 2 which the legal fees waive sounds more possitive....... Anyway, still no need to be too rush for the loan application. Will propose you to survey some other bank if there will be a better package....(before 31st Dec 09)
:)

Windy:- Next week is not a "real" property fair... Its more on auction..... Anyway, can try your luck there.......

By the way, "The Peak" will officially "kick-off" soon (approval obtained)..... By then, I believe the RM45k discount no longer valid... The most Ivory will offer is approx 8% discount (based on the normal practise).......

 
December 12, 2009 at 12:53 PM catleanne said...

hi..Mr.peak ,
i understand that there will be a bank loan interest occured during their progressing claim upon completion of each construction's stage of the property said.( since Ivory not going to absorb bank loan interest and legal fee ) Would u mind to share with us normally how they ( BANK ) calculate on the interest rate. I wish to know all those hidden charges in future other than just paying 10%deposit , appx 4k to 6k lawyer and bank loan document etc ).

thx for sharing!

 
December 12, 2009 at 10:33 PM monkey said...

peak

Beside MBB, Any other bank offering better package?

We can sign more than one bank offer letter then only decide when the contruction start, corret me if i wrong.

 
December 12, 2009 at 10:58 PM Ozi said...

monkey:u can apply for more than 1 bank then select the one u preferred....letter offer can only sign 1 bank....

peak:u mean they got the license for the project d???

 
December 13, 2009 at 12:05 AM Windy said...

Hi Peak, thanks for your useful information.
I went to Ivory office, the lanai unit left few units for 15th floor & above. If I pay RM5000 for booking, if i failed to get loan, can i get back my RM5000? any t&c apply?

 
December 13, 2009 at 1:39 AM Peak said...

Catleanne:- The Legal Fees is approx 3-5% of the purchase price. For the progressive installments payable, u can always check on your 3rd schedule of the SPA (S&P). For the bank interest on how much u got to pay over the progressing claim, u can always check with the bank. The mortgage personnel should explain to u clearly. This is their job. Anyway for the first year, the interest involve always will be a very small amount.

Monkey:- As Ozi mentioned above, u can always apply bank loan more than 1 bank. Upon approval, u can compare the package they (Banks) offer before u sign the letter of offer. Usually the bank will provide u a period of time in about 1 weeks time for u to decide before sign the letter of offer…….

Ozi:- Yes, Ivory get the license for the project last Thursday.

Windy:- Verbally, they-Ivory claimed that u CAN refund the downpayment if your bank loan not approved. But, there is NO black & white shows u can do so. In the letter of offer, it calls---U can write in 45days before “the option 6+6” expired to terminate the offer and u will get 100% refund. But it doesn’t mention on others reason u can refund the downpayment. Meaning:- In the legal rights, Ivory have the rights not to accept your request and forfeited your downpayment if u cancel the purchase……

 
December 15, 2009 at 2:45 PM ken said...

Hi Windy,

Have u place your booking? Heart that Ivory going to have a "road show" in Gurney Plaza during 1st Jan 2010. But the price maybe increase by then.

 
December 16, 2009 at 12:50 PM mark said...

Peaky: Thanks for ur reply.

Peak: What do u mean by RM45k discount? I just reserved 1 unit somewhere Oct and de lady just told us 8% discount. Do u mean de 45K is for those previous tat paid for de unfinished project? I bought 30th floor for RM380k and i heard that de price has gone up.

 
December 16, 2009 at 11:52 PM Starry Starry Night said...

Mark,

You should not be paying RM380K. You should be paying only RM310K for this unit if you are talking about 1000 sq feet. This RM380K you jhave just paid is not right. Go check and get clarified. Good luck

 
December 17, 2009 at 10:39 AM mark said...

Starry,

Thanks for ur info...help me save alot....anyway they didn't notify the previous purchaser about it......I got de discount now.....Many thanks to u......

 
December 17, 2009 at 10:41 AM mark said...

Anyone know anything about Zan Pavilion.....?

 
December 19, 2009 at 1:31 PM Andrew said...

This project is "super" near the cemetery. I am not sure if this will be a good investment. Furthermore, during Cheng Beng, the cemetery care takers will burn the bushes. As a result, you will have bush ashes in your lovely condo. :)

 
December 19, 2009 at 3:05 PM stanley said...

Hi andrew, agree with you, it is definitely have some cemetery view, since the high condo can have a good view for quite some distance, even gurney and komtar tower.
But depends on the economic condition, I guess the price can still be pushed up until 400k+ by the developer and investors, and the investors can cash in if there are buyers from overseas or those who wish to buy first house.... but as long the project can be started and completed, guess it is a safe investment but dunno one would earn 200k from it or not .
More than 10 years ago, the previous developer has issue blasting the hard rock hill for the base clearance and guess this time it should be fine...
The pity part is there will be more green trees be chopped and hill flatten for this project if not many considering living here and just for pure investment..then should have second thoughts ... guess no one will regret or rejoice until another 3-4 years :)

 
December 20, 2009 at 3:05 AM Peak said...

Andrew:- For the cemetery view, u can refer back to the comments earlier..... Also for cheng beng issues, its few days out of a year.....

Stanley:= Do agree with u on certain way. Anyhow, this property sure will fetch above RM500k provide the project does not cancel.
Btw, the site is not rocky. The previous developer was done lots of earthwork. Now what Ivory need to do before construction work is to clear some tree and bushes at the site.......

 
December 20, 2009 at 3:43 PM ncliang5 said...

May somebody tell me is the price still same as previously?

1000ft - 288k intermediate, 317k corner.
1.5k increament from first floor

 
December 21, 2009 at 11:41 PM Peak said...

ncliang5:- Your statement above was history already.... U can always check the latest price with Ivory office....

:)

 
December 22, 2009 at 8:46 PM Anonymous said...

Any price increase or package change so far?

 
December 24, 2009 at 5:14 PM monkey said...

Merry Christmas

 
December 25, 2009 at 1:35 AM Peak said...

Happy Holidays.... May all have a wonderful Christmas and Happy New Year.......

 
December 25, 2009 at 1:15 PM Ozi said...
This comment has been removed by the author.
December 25, 2009 at 1:16 PM Ozi said...

Merry Christmas to all of u!!!

 
December 28, 2009 at 1:56 PM Ozi said...
This comment has been removed by the author.
December 28, 2009 at 9:07 PM Kok Wai said...

Maybank's offer is better.

free moving cost: BLR-2.1%

Non free moving cost: BLR-2.3%

 
December 28, 2009 at 10:53 PM Ozi said...

Kok Wai:yea,u're right....the different will be the lock-in period....HSBC's lock-in period will be base on 1st drawdown and MBB's start from full drawdown....
I'm not sure bout MBB but we are offering fully flexi loan...
thanks

 
December 31, 2009 at 1:50 AM Ozi said...

to all,

HSBC is also one of the panel bank for THE PEAK RESIDENCES.We got two types of packages:

1)Free Moving Cost (free legal fees & stamping duty)
-Fully Flexi Loan
-5years lock-in period (from 1st drawdown)
-Exit penalty 3.5%

2)Non Free Moving Cost
-Fully Flexi Loan
-5years lock-in period (from 1st drawdown)
-Exit penalty 3.5%

Feel free to call me to ask more bout our loan packages and the rate....
Thanks....
Ozi Ong - 012-402 0277

 
January 2, 2010 at 12:01 AM monkey said...

this few days ivory got road show in gurney plaza

 
January 5, 2010 at 7:58 PM Pen said...

The floor plans are not updated!

 
January 6, 2010 at 1:57 PM Wayz said...

You can go to http://www.thepeak.my/ for updated information on the peak residences.

 
January 8, 2010 at 2:04 PM Peak said...

Hi all,

Happy 2010............. Anyway, does anyone know when will Ivory open block C for booking???

 
January 11, 2010 at 3:18 PM NaZ said...

went there on Saturday 9/1/10, block c is not open for booking yet.

 
January 11, 2010 at 7:22 PM Wayz said...

How was the sales respond up to now?

 
January 12, 2010 at 9:54 AM Yi Shen said...
This comment has been removed by the author.
January 18, 2010 at 12:04 PM Peak said...

Wow, the sales responce is good for this project...
Block A and B left only less than 30 units out of about 400 units.........Meaning for block A and B is more than 90% sold.......

 
January 18, 2010 at 1:31 PM Jon said...

More importantly, when will the project officially kick off? Was at the actual site, only some notice boards (declaring the peak area) are up.
the 6+6 gets me really nervous.. seems Ivory may not have a lot of incentive to complete on time as this is not an interest free while under construction home loan package ..

Peak, do you know what the hold up is? has the legal issues reported previously been taking care of?

Also any ideas if Tanjong tourist mall is still on going? Expected completion date?
LRT in Tg Tokong? PORR? Tesco Tg Tokong?
these are what will give the area the needed boost to be the prime area.. fingers crossed..

 
January 20, 2010 at 12:18 PM Peak said...

Jon:- The actual date for this project to kick-off really no idea. But it should be somewhere mid of this year. Ivory had submitted to build the sales office at the site at Jalan Halia last year. The status at MPPP office was approval pending due to some indah water, Bomba and TnB reports. Anyway, 6+6 is a common practice for Ivory projects.......

For future area development, the above what u mentioned is under the proposal. But when, nobody knows. Its the matter of time....

:)

 
January 20, 2010 at 4:41 PM Wayz said...

Is there any of the peak buyers have already secured the bank loan and sign the bank loan agreement with lawyers?

 
January 20, 2010 at 5:03 PM myonedeco said...

There is this MBB guy, Joshua which is very procrastinate in closing my deal.

He mentioned i oredi hav the BLR-2.3% package which is suppose to end 15th Jan 2010, but until now no news?

others, plz comment ur experience.

 
January 20, 2010 at 5:44 PM monkey said...

i have sign the loan agreement

 
January 22, 2010 at 5:12 PM Wayz said...

Hi monkey,
How much do u pay for the bank loan agreement fees and which lawyer do u engage? If u uneasy to share it here, you can email me at wayz223@gmail.com.
Thanks.

 
January 24, 2010 at 12:27 AM monkey said...

the loan agreement fee i also put in to the monthly installment cause MBB do provide the service Is around RM 3-4K . The lawyer firm is Chow TS same as the signing s & p one

 
January 24, 2010 at 1:04 AM PKC said...

do any 1 go site c location ?
i go c road to small & behind the landed hse.now site occupied kampong hse

 
January 26, 2010 at 1:28 PM Peak said...

Dear all,

Anyone signed the SnP and stamped? I understand some of the buyer already signed the SnP(Official). I believe those had signed the SnP should be the first batch buyer. Does anyone had signed? Please kindly clarify. Thanks.

 
January 27, 2010 at 3:27 PM Peak said...

Dear all,

Just visited the sales office this morning and some updates to share.....

Block C opened for booking..... But the price eventually had went up to the average of RM20k. The previous package of discount RM45K is no longer valid. The new discount package is discount 10% from the house price + RM5,000 cash rebet..........

Anyway, just checked with the sales office as well as the lawyer, the targeted SnP stamping date will be somewhere in the month of Jun/July 2010.........

 
January 27, 2010 at 10:27 PM Kok Wai said...

Thanks Peak for providing such a useful information.

 
February 4, 2010 at 12:53 PM myonedeco said...

i havent signed the official snp yet.

 
February 5, 2010 at 6:40 PM mark said...

I haven't sign the Official SnP too.....I'm the 1st batch purchaser but no one inform me to sign..... :(
Called their sales rep n she say she'll check n get back to me (she sounds surprise)......
PS: They are slow or poor in doing their work, even when the price reduce after it has launch, I've to call n clarify n resign de offer letter instead of them calling me to do so.....

 
February 9, 2010 at 11:31 AM Peak said...

Hi Mark,

Are u sure u r the 1st batch buyer? When u purchase your unit? 2008?
:)

 
February 12, 2010 at 10:23 AM Peak said...

Wishing all & Family have a Happy and Prosperous Chinese New Year.... 金虎贺岁富满堂;新春福虎送吉祥。。。

At the same time, wish all have a Romantic & Lovely Valentine's day ahead.........................

 
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