1-World


1-World, a component of The One project located at Bayan Lepas comprise of modern design executive suites. There are three types of designed; Shanghai Bungalow Suites, Cambridge Semi-Detached Suites and Boston Linked Suites. The built-up area ranging from 1,160 to 1,560 sq.ft.

Property Project : 1-World
Location : Bayan Lepas, Penang
Property Type : Apartment
Tenure : Leasehold
Built-up Area : 1,160 - 1,560 sq.ft.
Developer : Ideal Properties

526 comments«Oldest  ‹Older  201 – 400 of 526  Newer›  Newest»

May 11, 2009 at 11:26 AMUnknown

Good news, all of the units of the 1-world finish sold out according from the 1-world sales admin.
To others would like to cancel the booking,
there already have some people line up to purchase, maybe you can do the booking cancellation and give the chance to people interested.

 
May 11, 2009 at 3:54 PMUnknown

Why CIMB hard to release loan on this project? Anyone?

 
May 11, 2009 at 11:21 PMUnknown

Yeah .. this project is fully sold-out. I was the lucky few that got a unit yesterday. But saw many disappointed faces when they realized that all the units have been booked. I just like the place - huge modern market, supermarket, hypermarket, post office, banks, chinese schools, next to pisa, many eateries, hospital ... and very near to Bayan Lepas Industrial Estate ... almost jam-free roads from 1-World to the industrial estate.

And the added bonus is the maintenance fee - which is the lowest for this kind of development! I for one am not interested in the high-maintenance swimming pool.

 
May 12, 2009 at 3:55 PMUnknown

the difference between leasehold and freehold is on its appreciation(property value). true the property can't last forever, the value of the land is still there (especially for landed houses). 99 yrs is ok, but 75 yrs will be in trouble. The Developer "will" and not "shall" apply to extend the leasehold period meaning there is no legal duty on it, unless it clearly provide indemnity clause in the SPA

 
May 12, 2009 at 9:39 PMelnino

I see a lot of people argue on the leasehold issue. I like to point out a few points. If you buy it for rental, then it is a bargain. If you buy it for sales in future, better look for elsewhere. If you buy for stay and do not see your children staying with you when they grow up, then it is a good buy as well. However, if you buy and thinking to build 3 generation of family in this apartment, think again. This apartment does not design to cater 3 generation of family, get a landed house instead.

Forget about the leasehold thing if you do not intend to sell it in future as you do not live long enough to hit 75 yrs of leasehold.

If you thinking to pass down the property to your children in future, think again as well. Your children might prefer to live somewhere else.

So definitely, this property is not build for generation pass down. As for sales value, it will largely depend on how successful of this project and The One project.

 
May 13, 2009 at 10:39 AMUnknown

Hello, nice to meet all possible future new neighbours here. I booked a 1300sqft unit quite sometimes ago. Have not sign SPA yet. Anyone hear any problem with bank loan? I heard Public bank wants to lock for 8 years (5 years upon completion), is that true?
Also, I see there are only 2 lifts for 14 units per floor, anyone think that's a little not enough?
I like the unit cause its square shaped, reasonably priced, and near to my work place. I think the yards are a little waste of space. Hmm... to sign or not to sign?

-Daniel-

 
May 14, 2009 at 1:37 PMHJ

peoples like to buy things that others also like it, if the sales person told you that there are still >50%units left, would you still buy it? 90%No, you will think why people dun like it and think twice before you decide to buy it! Dun simply believes what sales person say...

 
May 14, 2009 at 11:12 PMUnknown

If you look for the building layout, there has 2 wings and each wing has 7 units with 2 lifts,... so for each floor there will have 14 unit with 4 lifts......

 
May 15, 2009 at 12:21 AMAnonymous

If for own stay, why worry 3y lock-in (AB).
If for invest, PB waive as buyer use PB.

 
May 15, 2009 at 9:26 AMHJ

so, for those who want to buy it for invest, or for next generation, think twice. if buy it for own stay, then should be ok!

 
May 16, 2009 at 4:22 PMmomo

hi all neighbour :D

i booked 1 too! lets support!

 
May 17, 2009 at 3:17 PMnono

heard it is fully booked. Is it true?

 
May 18, 2009 at 9:05 AMAnonymous

it's fully booked. and i understand some peoples still in queue to purchase just in case anybody wanna cancel their booking. even now they stop to accept any queue for booking as well. seem likes the response is really overwhelming!!

good sign for those success book it !!

 
May 19, 2009 at 8:55 AMAnonymous

anyone oreli obtained bank approved loan? so far which bank's offer is the best??? Ambank, Hong Leong or PB??

 
May 19, 2009 at 9:33 AMvivian

Dear LH,

Are you have also booked a unit at 1-World? Maybe you can try on HSBC.

Thanks

 
May 19, 2009 at 10:34 AMvivian

Dear LH,


Maybe i can recommend you for the housing loan banker. If you don't mind, you can leave down your contact number here.

Thanks

 
May 19, 2009 at 10:48 AMAnonymous

Hello

 
May 19, 2009 at 10:50 AMAnonymous

any one already Sign the SNP ?

 
May 19, 2009 at 11:27 AMAnonymous

hi Vivian

thanks for your offer. Yes, i had booked but yet sign SPA.

Btw, is Ideal paying for the interest if we choose HSBC?

i tot Ideal only waive for the legal fee if we selected Ambank, Hong Leong or PB only????

if you have further info, you may email to limfei@yahoo.com

thanks in advance.

 
May 19, 2009 at 4:38 PMUnknown

If you want to enjoy the FREE SnP and Loan agreement plus execution of Loan agreement (which can be worth RM8k) and also enjoy NO bank interest charges during construction period (worth about RM24k), we need to use Ambank, PB or HLB. These are the appointed banks by the developer. If use OCBC (can give up to BLR-2.4), then need to pay for all the above-mentioned items. Not worth it.

I got an approved loan from Ambank (BLR-2.0). Now awaiting what HLB is giving. I did not apply for PB cause I find the agent a bit arrogant.

And a friend of mine just offered me RM20k above my purchase price for my unit. Very tempting! But I think it will go up in price once OC is given or will command good rental.

 
May 19, 2009 at 8:17 PMUnknown

Sam, your friend no need add 20K to purchase. i have a unit to let go (without adding any price) since the leasehold left with 72 years only after completion. anyone who are interested can leave a message here.

 
May 19, 2009 at 9:32 PMUnknown

Sam,

If ur friend is interested, i also owned a unit, i can let go to her/him , they can just treat me makan enough liow. If not genuine, dont ask her/him to talk " song " nia.

 
May 20, 2009 at 12:06 AMUnknown

I have just approved loan by PBB with BLR minus 2.3%.

 
May 20, 2009 at 12:44 AMdca

hi..i have booked one unit at one world..but still waiting for bank approval (ambank & HL).. first application was rejected coz too many commitment.. any advice?

 
May 20, 2009 at 12:22 PMnono

Jessey,
PBB offer -2.3? He told me max -2.2 only. how do you manage to get it?

 
May 20, 2009 at 12:48 PMUnknown

Jessey - share with me the "kang hu" you used and who is the agent that helped you with it? I think HL will also give me BLR-2.0 only. But no news yet.

DCA - when applying for loan, try to add more names to the property if your commitment is too high.

 
May 20, 2009 at 3:06 PMUnknown

HL and AMBANK offered me maximum BLR minus 2.2%.I don't want to take this offered.All my transaction also dealing with HL but they just give me maximum 2.2%.Fedup.I rather choose PBB although i don't have any transaction dealing with PBB they also offered me minus 2.3%.Think HL and AMBANK will not give this offer to other purchaser.

 
May 20, 2009 at 3:19 PMUnknown

PBB agent told me that they got many level to category the purchasers. I don't have any 'KANG HU'.Just that u can prove as much as u have in your saving account without any bad record and commitment.They will offer to you more higher interest.One thing that i don't like PBB is they lock for 5 years (after full release).Total 8 years.Others bank only 5 years (on 1st release).But they can offered me minus 2.3% so i choose them.

 
May 20, 2009 at 4:23 PMUnknown

Thanks Jessey! I am getting PBB to give me a quote now.

Usually the last 5% of loan release is after 6 months or 12 months of getting OC. So, the lock-in period can be as long as 9 years from now. NVM lah .. pay bit by bit loh. By that time, share market would be very hot again. Can use the extra money to "char" the market.

 
May 20, 2009 at 11:49 PMEK

PBB offer me BLR-2.3%, HLB & AM BLR-2.2%. Still not sign SPA yet.
Fyi, I not a rich man, I need withdraw $$ from KWSP for renovation. But, last weeks, I call to KL KWSP, they say not allow to withdraw $$ if the floor plan not show Kitchen, living & dining (current 1-world draff copy floor plan showed Pantry & Lounge), it seem like KWSP web site info not match as mention by KL KWSP ppl, any advice? Anyone bring the draff SPA & check with PG KWSP?

 
May 20, 2009 at 11:59 PMUnknown

I ask the Ideal's staff before they told me that this project can't withdraw KWSP money to buy this property as this is commercial title.Correct me if i'm wrong.

 
May 21, 2009 at 8:57 AMnono

I just remember that, If not mistaken, PBB has some charges e.g RM75 as search fee, and every year RM45 (but not sure what is that for.:s

Jessey. are you aware about this?

 
May 21, 2009 at 3:36 PMdca

hi sam... thanks for your advice.. will try to apply with PBB..heard BLR-2.3..is't true?

 
May 21, 2009 at 10:20 PMUnknown

I just talked to a PBB agent. She confirms the one time payment of RM75 before the first payment is released. After that no other fees. But she did mention she would try to get me a BLR-2.4.

Fingers crossed. Heck, toes crossed too!

EK, I personally find it is better to keep your EPF money in EPF. At least you can get 5% - 8% interest. If you take out and cover your loan, it will help you reduce about 3.35% of interest only. If you need money for renovation, ask your loan agent if he can include renovation costs into your house loan ... but then again ... you can start saving money now ... RM300 a month. When we get the OC in 3 years time, you will have RM10,800 for renovation.

 
May 21, 2009 at 11:49 PMUnknown

Do you all buy any additional car park?I think abit expensive RM18,000 for one car park.

 
May 22, 2009 at 9:28 AMAnonymous

Did anyone check with penang state gorverment or majlis perbandaran that Idealgroup already own the land ?

This is to make sure developer already own the land before we sign the SNP

 
May 22, 2009 at 9:29 AMAnonymous

EK,

so can we withdraw money from kWSP for this One world ?

 
May 23, 2009 at 12:44 AMEK

Sam, now a day 10K renovation just cover basic things only (electrical wiring, iron grilles, fan & kitchen accessory), if include TV, washing machine, refrigenator, aircon, furniture, kichen renovation & etc... should >30K (not branded one). Anyway, thanks for advice.

Kenneth, today I bring draff SPA & go to Georgetown KWSP, initial the girl (Nithi) told me if commerial land with residence stay, should not be a problem to withdraw money for renovation, but I ask her to double confirm with officer, then she & officer start worry about the word printed out "Pantry". I told them there is "Kitchen" word in Building Description at SPA P17 too, this make them more confuse, so they say will confirm with KL KWSP Pengeluaran dept and let me know by next week.

 
May 23, 2009 at 11:41 AMAnonymous

HI , all Important... Did anybody check with the gorverment or Tanah that the land already belong to IDeal group ( One world deeloper).

 
May 25, 2009 at 10:43 AMUnknown

Hi all,
I read the SPA and have some doubts on it.
Firstly, it states if the property area is less than 3% of what you are suppose to get, the developer will pay you back RM50 per sqft. I mean, I paid RM200++ and they pay me back only RM50? In the case that i bought 1560 sqft and they build only 1000 sqft for me, what can I do?
Secondly, the vacant possession does not states that water and electricity will be ready by certain requirement by the time of vacant possession, does not state that OC will be applied before they pass us the key, does not state that the architect have signed off all documents "according to OC requirement" by the time we receive vacant possession also. In the case that the architect does not do it according to OC requirements, who knows when will the property receive OC approval?
Above is the abnormal items I found after comparing the SPA with some standard SPA of the resident titled apartments, such as Regency heights etc. Just so that those about to sign SPA aware of this. Anyone found those to be a concern? Or anyone has further info into this please let me know. Thanks.

 
May 25, 2009 at 11:09 AMPalymra

Not really abnormal items. 1-World is commercial title so not need to follow standard SPA of the resident titled apartments. Better you check with the lawyer in charge.

 
May 25, 2009 at 9:01 PMUnknown

I've few questions:
1) Anyone can update here about withdrawing of KWSP? Is that any problem to withdraw?

2) Anyone can update here about currently the developed land is belongs to IDEAL'S Group already or not?

3) My house loan was approved at one of Public bank Penang's branch on last week but when sent to KL main office i heard that few apply accounts were on-hold until today's meeting don't know in what reason. Anybody know something about that?

 
May 26, 2009 at 8:51 AMUnknown

Hmm... a surprise that no one finds the SPA a concern? 1st item does not guarantee purchasers the size of land, 2nd item does not guarantee purchasers the quality of house. I thought those was major...

 
May 26, 2009 at 9:48 AMPalymra

Hi Daniel,
You have the S&P with you. Is S&P stating anything about the extension of leasehold period? can you write it down?

 
May 26, 2009 at 5:27 PMUnknown

I dont think PBB has any problem in processing the loan. Normally the bank will grant a Quota and when it is full, they will apply to increase the Quota to take in more application. I got my approval from PBB. Anyone interested can contact Mr Goh of PBB at 0124296538. This guy is very helpful. Good luck!

 
May 26, 2009 at 5:35 PMUnknown

The SPA stated very clearly that the Landowner is Fujasa Property Sdn Bhd and Ideal is the vendor. As such this is should a JV project as in the SPA, it did mentioned that The Landowner has granted the Vendor absolute right to develop part of the said Land. Bank will not provide End-Financing to finance our purchase if Ideal does not have rights to the project.

 
May 26, 2009 at 5:50 PMUnknown

Hi Daniel, there are four lifts to serve the block. Pls study the layout plan and you can see that two pairs of lift are facing each.

 
May 27, 2009 at 12:23 AMUnknown

Hi CL,
I hope PBB don't have any problem to process the loan. I heard somebody from PBB staff told me that KL main office are meeting to talk about something regarding this project loan. To check this project developer also is one of their discussed item....Why they did that? Is that any problem happen on our project developer?

Anyone can confidence to share something about this matter....Thanks and highly appreciated!!

 
May 27, 2009 at 9:09 AMCYC

From the past many discussions, why it seems to be only PBB have problem on loan matter? Is that because PBB's loan approval require more detailed and strict consideration? Anyone have the loan approved from other bank? Any issue?

 
May 27, 2009 at 9:48 PMUnknown

Hi All,
I have get loan approved from Am Bank, PBB, Hong Leong. The progress to get the loan approve is quite slow, especially Am Bank and PBB. So far I know, Am Bank offer is -2.0->-2.2, PBB offer -2.0 -> -2.3, and Hong Leong -2.0-> -2.2, but Hong Leong offer Islamic package mean no lock period and penantly amount is less compare with normal package.

 
May 27, 2009 at 11:14 PMUnknown

i have gotten AmBank BLR-2.2. Still waiting for PBB & HLB, but I think the validity of the loan offers is only 14 days. I made my booking on 1st May, wonder why the sales person of Ideal never contacted me to sign SPA.

 
May 27, 2009 at 11:19 PMUnknown

Another thing i noticed is that the layout plan for most units showing 4 rooms in the photocopied layout plan attached with the folder Ideal gave you when booking is made. Why the folder itself & also the website is showing only 3 rooms, whereas the photocopied layout plan showing 4 rooms? can someone clarify on which is the correct layout?

Example, Type A is showing WIC between the Bath1 & Bath2 on the folder & website, but the photocopied layout showing this as Room2.

 
May 29, 2009 at 3:38 PMUnknown

I got BLR-2.3% from PBB. So going for it. But there is a RM50 charge (discounted) for a search fee ... but I am ok with it.

Ambank and HL gave BLR-2.2% to me.

PBB approval was pretty fast too. 1 week process.

 
May 30, 2009 at 9:38 AMUnknown

Have faith with Ideal. Go ahead if you think you can afford for the commercial titled expenses.

Just shared with you my experience with Ideal. I'm one of the customers to CEO project. I went for booking a unit during prelaunch and paid for deposit end 2005. Further I paid all balance
(about 20%) in March 2006, coz bank only approved for 80% of loan amount + 20yrs max repay period.

The interesting part here was Ideal "braved" enough to collect the money not even getting any approval from the local authority on the CEO project. So I got myself my own lawyer to handle the document just incase any screw-up to the project. At least I have someone to fight the case for me. I didn't have the courage to take their "free-legal" coz you know, one person can't wear 2 hat!

Luckily the project started Arpil 2007, and during Dec 2007, matter arose again for changing main contractor. (mayb this the way to get things faster, hahha, someone as the main contrator at the initial stage then change hand later, ..no need to mention-la).

I noticed the CEO is bit of slowdown since April, and most probably the "gang" has move over to 1 world.

Overal Ideal done a good job in term of the project management and Paramount is rich enough to handle those projects.

That's jsut my sharing, or mayb you all have the different stories..!!

You have to bear a certain risk for any new development, even it's from the well-known developer.

 
May 31, 2009 at 10:06 AMgorzalle87

It's good to hear that another positive comment for Ideal's. I'm about to sign S&P for my own stay on this project. Feeling good but of course need to be bear certain risk.I'm those who really need to hard work & absolutely have to keep $$ for this new home...After S&P i think nothing can we do already. Hopefully this project can going smooth. Let's pray for it guys!! :)

 
May 31, 2009 at 10:39 PMUnknown

how long between your booking till you sign your SPA? i booked 1st May, but till today havent sign the SPA yet. Still waiting for PBB & HLB loan, got AMB BLR-2.2%. Also taking this opportunity to think & think & think on this purchase. Overall OK but trying to overcome my concern on the risks involved.

 
June 1, 2009 at 1:54 PMAnonymous

Developer inform that for one world , we are not able to apply EPF. But we can just try.

 
June 1, 2009 at 1:56 PMAnonymous

Should we ask Ideal to issue a letter for us state that " we buy this unit is for residential use, and is not for cormersial purpose ... Then we can attach the Letter when we summit to EPF

 
June 2, 2009 at 1:16 PMCYC

Just called up developer and has been inform of the same answer. She said EPF withdrawal is not allowed for commercial title. They have actually checked with EPF before started the project. She just said: "Any successful withdrawal will be at your own risk, if should anything happen in future. Is better for you to check with EPF officer."

 
June 2, 2009 at 5:52 PMUnknown

sorry to interupt again.
Can you all check with Ideal whether all unit are comes with partitioning brick wall, or just simply vacant unit? meaning like the partitioning to the masterbedroom, kitchen, living room etc.

 
June 3, 2009 at 5:26 PMAnonymous

hi all potential 1world owner
just wonder what is ur decision on ur bank loan??

Ambank? HLB?

i had shortlisted,
Ambank - BLR-2.2
HLB - BLR-2.2

any comment between this banks?

 
June 3, 2009 at 9:44 PMUnknown

Why not PB Bank?
It gives BLR-2.3.

 
June 4, 2009 at 2:29 PMUnknown

Just checked with Ideal, they have sent out letter and sms to all those who booked units on 1st May onwards.

 
June 8, 2009 at 11:10 PMUnknown

i have also taken comments from one of the developer staff. she claimed for 1-world, HLB loan is the one with most takings, followed by PBB then AMB.

i hv just signed the LO for HLB islamic package with IFR-2.2%. follow the crowd la, wahhaha :D

 
June 9, 2009 at 10:37 PMUnknown

I went to check my PBB Letter of Offer. Very disappointing. While i got the BLR-2.3%, I was not too pleased with :

1. If I default payment just for 1 month, I will have to service the entire loan at BLR+0% automatically.

2. I am forced to open a PB Savings account and perform standing instruction. Very troublesome and rigid. If I want to do extra payment, I must do it over ATM machine on top of the standing instruction.

3. With the PB savings account, PB has complete authority to withdraw my money from my PB saving account for any miscellaneous charges they deem fit (such as search fees, valuation reports, incidental charges etc), without needing to notify or get my consent first!

4. Pay RM175 for additional fees.

5. Compulsory MRTA from their own appointed insurance.

6. Compulsory Fire Insurance from their own appointed insurance.

7. If the developer missed the dateline to pay the loan interest charges, I will incur a fine of BLR+1% for the overdue instalment.

8. PB has complete rights to add conditions, amend any terms and revise the charges any time at their own discretion and I have no rights to object.

Now I am having doubts to sign the LO from PBB. What about others who have AMBank and HLB LOs?

Did you sign with your blood?

 
June 11, 2009 at 10:40 PMUnknown

sam,

AMB has a clause that must maintain minimum 10% of the scheduled principal at any time, meaning if 5 years down the road in the loan payment table you are suppose to still owing bank 200K, your balance at that time must be >20k, else penalty rm500 per month is charged. Penalty if sell within the binding period is 5% of loan.

HLB does not have this clause, but requires a MRTT (islamic equivalent MRTA) purchase of minimum 2k. Penalty if sell within the binding period is per cos-of-sale (currently 2.5%, & will always be < BLR).

honestly, both loans are OK with their pros & cons.
after all considerations, i opted HLB, as the developer rep said that most buyer whom signed SPA took HLB, simple as that.

 
June 19, 2009 at 8:39 AMUnknown

Guys, anyone already sign the loan agreement? I heard that the project will start on Oct, anyone can confirm?

 
June 19, 2009 at 9:53 AMUnknown

Hi guys, I only heard they are holding the stamping of SPA until later date, didn't hear anything about Oct. I also heard that they are changing the clause in SPA, increasing the compensation from RM50/sqft to RM200/sqft if our unit ends up smaller than SPA mentioned. Can anyone confirm this? Still nothing stated for building completion according to OC requirements.

 
June 22, 2009 at 9:22 AMAnonymous

the compensation is changed to RM200/sqft. i read the SnP, and it is stated. However i heard previous signed one is RM50/sqft only.

As i informed the SPA stamping should be done couple week after you signed SnP.

 
June 22, 2009 at 11:06 PMHp

Can previous buyer re-sign new version of S&P?

 
June 23, 2009 at 9:14 AMAnonymous

please call up the developer and check... i think as long as the SnP yet stamped by government..then we should able to change it.. good luck.. :)

 
June 24, 2009 at 8:59 AMUnknown

Did anyone asked the developer regarding vacant possession should be done accordance to OC requirements? And what would happen if it is not done accordance to OC requirements?

 
June 24, 2009 at 4:00 PMHp

Dear LH, Hoo, Sam, Daniel & all Future Neighbour, i read dis blog since i booked 1300sq ft level 19 no 8 during soft launch on March, but yet sign S&P. i think My loan will going to approve soon.

After i read 3 times agian start from begining on this blog, i hav some question would like to get all of your opinion:

1. Why our developer dont convert/ renew to 99yrs lease hold to let some of us stop worry before they launch this project. Sure the main concern of -ve point is non other then this.

2. Why our developer dont renew 1st and sell for us at higher price (i think 99 lease worth then 75 lease la may be)

3. If our developer CAN convert/ renew to 99 lease hold then our properties value should be getting higher. If after completion, our lease hold CAN'T be renew? How about the selling price after 5 to 10 yrs? Is that just depend for how successful of The One?

Optional question to some body,

4. At 1st if we just plan for self stay, sure we dont concern to the lease hold problems. But may be after completion 5 to 10 yrs, we become rich and hav ability to purchase new property. We hav high potential to getting lose of interest if our our property appreciation can't cover our interest.

5. If we plan to get rental, we probably only can get it to cover our monthly installment, but we still facing the same problems if our property value dont appreciation enough. Again, how about the selling price?

Thank for all of your opinion and concern to help me make the final decicion. Thanks!

any opinion u also may call or e-mail me
hpbeh
012-522 8700
behhockpoh@yahoo.com

 
June 25, 2009 at 9:25 AMUnknown

Hello Beh,

This question has been raised numerous times in previous blog. No point to raise again without answers. This is after all, the developer's decision, not ours. What I can say is, prepare for the worst, if you can not stand 75 years, do not buy. Simple.
However, I would like to urge anyone who knows the reason behind why developer donot extend the lease earlier, please let all future neighbours know for the goodness of all. Thanks.

 
June 25, 2009 at 12:32 PMHp

Daniel, thanks for yr advice.

Ya u r right we must prepare for the worst, that’s why I need to get opinion from all of our future neighbor, just our potential future neighbor will face this problems and they might have answer regards “What Is The Worst Result We Will Face” ?

I believe that we can’t get the answer from developer, they sure tell us Don’t worry! No problems! I understand they also want to earn money, how can they tell us the entire true story.

I just want to determine 1st, rather I can accept it or not, I think most of us also just think that hopefully developer can renew it to 99 lease, but may be they don’t get the “Real Picture” of “What Will Happens” if the fact is…

So, hopefully u all doesn’t blame me to raise this issue again in this blog, I think we must determine the worst result 1st, if I can accept, sure I will very happy, if can’t, I should pass this opportunity for other who can accept the worst result.

Daniel, I get your answer. Thanks for your opinion and time.

 
June 25, 2009 at 10:27 PMAnonymous

How many house owner did really verify the actual lease-hold expire date for their 99years condo/apartment? I believe most land's lease already started counting even before the project starts. For those who buy built house or second hand house, the remaining "lease" is definitely not 99years, although the seller still claim it as 99 years lease properties.

 
June 26, 2009 at 9:19 AMAnonymous

i did consult lawyer the term and defination in the SnP... "Developer SHALL apply for 99 leasehold....". according legal rules, developer is MUST to apply if fail to do so, then we can sue them... how true izzi..i don know but as long as this is stated and we have high chance to claim back if they fail to do so...

 
June 26, 2009 at 9:37 AMkenD

Hi LH, as stated in SnP "Developer SHALL apply for 99 leasehold".

"Shall apply" does not mean the authorities must approve the application. When times come the developer will said "we'll already applied but not approved"

That clause stated doesn't protect the buyers at all...

 
June 26, 2009 at 3:36 PMAnonymous

oh..anyway somebody might figure out.. this is what i heard from the lawyer...

 
June 27, 2009 at 3:02 AMAnonymous

Logic 1 (consider <99yr lease is a lost): In the worse case only 75yr, can you effor to bear this risk?

Logic 2 (consider >75yr lease is a bonus): If 99yr approved, how much the return worth for risk taking?

 
July 2, 2009 at 4:56 PMUnknown

extension of lease is provided under the National Land Code. No big hud ha.... taking into consideration that E & O got approval to convert from leasehold to FREEHOLD and also at very low premium. In Malaysia, there are already precedence that allow lease to be extended and delivered. At the end of the day, if the location is good, lease or freehold also would appreciate in value. Good example is Putra Place. Gold Coast is still selling at a premium although the remaining lease is only 80+ years.

 
July 2, 2009 at 7:12 PMHp

Ha ha! My frend… if I don’t read your previous blog I tot u r from Ideal Home, u seems very helpful to provide us all the answer that v want to know from time to time even a very small doubt, u also seems very free to find out all the answer and very knowledgeable.
You know PBB loan quota
When Developer send SMS to for buyer
Compare IJM Summer Place with 1 world (but only 1 world can make profit)
Compare the investment return and F.D (also is 1 world better)
Very details from S&P
When stamping S&P
You tell people will regret if don’t buy now
News from other developer… WOW!
You r too knowledgeable… Nothing... I just beware someone from developer inside this blog to just provide +ve opinion.
But for my own opinion, I don’t believe developer don’t give any opinion inside this blog.

 
July 3, 2009 at 1:59 AMAnonymous

See, I am neither from Ideal nor IJM Summer, but looking for investment opportunity. Thanks for all the info, knowledge, comparison & comment (pro and con) that helps decision making. I personaly believe that investment here should work, just like most of the other condo in Penang island.

P/S: While suspecting of developer's +ve comment, beware of the competitor's -ve comment as well. :)

 
July 6, 2009 at 9:51 PMHp

Dear Realinvester,
Thanks for your advice. Can you share with me why you have strong believe that investment in 1-World should work? Do purchase it? Thanks a lot.

 
July 7, 2009 at 1:46 AMAnonymous

By now all of us should be very clear about the pro/con of this properties, thanks for the sources and welcome for new points. When we truely understand our purposes & needs, feel it, we will find the right answer. Believe it, it is happening now!

Purchase it only if you do have believe in it, and stand firm against the influence from competitor developer.


...info, pilling work for 1-World is already in progress

 
July 7, 2009 at 2:54 AMHp

As sharing by KenD in previous post. The clause in S&P doesn't protect buyers at all.

Acording to the clause in S&P, I strongly believe, this project hard to renew to 99 lease.

Because Developer don't dare to promise us.The sale person only said don't worry but it doesn't help anything.

Unless developer change the clause in the S&P.

 
July 7, 2009 at 12:03 PMUnknown

At this moment, so many doubts on this project but yet fully sold out. So, when it is completed, for sure they are more people asking for it, provided Penang island is still growing. I think as long as the lease still more than 60 yrs, should be alright.

However, I personally still feel that this is just "OK" project for me. If I am going to buy any condo now, I would willing to spend additional 50~100K to get a "more perfect" condo.

* The "more perfect" definition is up to every individual.

If you all want to compare to Summer Place, I think there are reasons Summer Place selling higher. Sea view is definitely adding value, plus the ability of the developer to add value on the surrouding, landscaping, floor layout. I don't like The Spring but I am impressed with what they did on everything other that the unit itself.

Ideal also have some strength to create values, but most of the time, the valus come with some -ve point here and there, make the buyer feel a bit "Not good enough".

 
July 7, 2009 at 1:40 PMUnknown

I received a letter from Ideal this morning saying the earthworks already completed. I guess they would like to collect first release of $$$ soon already... By comparison, other normal residential SnP does not states earthworks to be a part for loan release. It all adds up to be 100% eventually, just feel abit wierd. Fyi.
Hello Realinvestor, are you a purchaser of 1 World?

 
July 7, 2009 at 2:26 PMHp

I have confident, Ideal can finish this project on time. The most important thing is would you stay in the same property during your life time? The problems will come after duration of lease become lesser in the future..

 
July 7, 2009 at 3:07 PMHp

Honestly, I buy this project is due to 3 main reasons:
1. Less Initial Down Payment
2. Very Attractive Promotion Packages
3. Very Strategy Location

When I visit show house, I notice most of the buyer is very young generation, they might face the main problems of less down payment as me.

The overwhelming response of 1-World is because of these financial facilities. If Ideal going to collect 10% down payment form me, I have to pay RM30, 840 do you think I still going to book 75 years of lease hold property. I have more choices if I afford to pay.

So this project sell like hot cake is just because of this. We can’t apply this response as a reference for our property value in the future, I mean sub sales.

Don’t forget we have very attractive package to waive all the initial cost (S&P legal fees for both side, waive loan interest during construction) when we purchased.

Do you think the overwhelming response will come again after the construction finished? How about after 5 to 20 years, the lease left 60 or 55. For sub sales, I better buy D’piazza = Free Hold. Also strategy places.

 
July 7, 2009 at 3:13 PMHp

The good response is also due to people don’t notice the duration of the lease left and some of them believe in what the sale person said “should be no problems to renew it”

 
July 7, 2009 at 3:20 PMPalymra

I suspect many people thought leasehold = always 99 years.

 
July 7, 2009 at 3:27 PMHp

Developer claims that this project is 99 years lease. They even don’t tell me the actual duration of the lease left when I booked on March. If I don’t read this blog, I won know the actual story… This makes me less confident with them.

 
July 7, 2009 at 3:32 PMHp

If they still can’t promise anything. I can make sure the strategy they use to sell this property is true.

Think 9 times:
If the lease can’t be renew…
How do you going to sell this property?
The answer is = Use Strategy
Then The Most Attractive Package in the Penang come out…

Easy Ownership Package:
Free Legal fees for both side + Waive interest during construction period + Financial Facilities (Less down payment only 8K & pay the rest of 10% by 18 months 0% Installment)

+ Very Strategy Location… The Best Solution…

If the story if not true, developer should change the clause in S&P…

Pls: Please check with sale person Shirley 016-452 5738 and Yee Vonne 012-488 2111 if someone suspecting I am not a buyer. Thanks!

 
July 7, 2009 at 3:42 PMPalymra

To HpBeh,
When you sell, you just said is leasehold if people ask. I think they will though leasehold = still got 99 years for them.

 
July 7, 2009 at 3:42 PMHp

Hi Mr Business,

Are you buyer?

Do you agree with my opinion and concern in my previous post?

I only can commit in 1 property at the moment.. this is my only chance.. hopefully i won do the wrong decision.

Do you have any opinion or advice for me?

Thanks!

 
July 7, 2009 at 3:48 PMHp

Thanks! Mr Business, but people in Penang now is smart enough ler? Can it work?

If i do it i will same with developer liao = try to hidden some important thing. haha!

 
July 7, 2009 at 3:51 PMPalymra

I think you still sell it for a good profit after OC obtained. And I suggest you to consider to buy another property. You can take out epf to pay the downpayment. And you could use profit from selling 1-World unit for renovation or pay down loan.

 
July 7, 2009 at 3:56 PMHp

Fyi, I am commission earner, I don’t have EPF.

 
July 7, 2009 at 4:02 PMPalymra

I think property price in Penang is a bubble, but I do not know when it will burst. If current low interest rate BLR-2.2% (3.35%) stay long enough, property price will increase higher and higher. If you do not have another property in hand, you could not enjoy the bubble.

 
July 7, 2009 at 4:17 PMHp

I don’t think I will stay longer in 1-World due to lease hold (as I know the price will reduce together with lease duration) correct me if I am wrong.

But I only can commit to buy this property at the moment.

If this is not a good deal, I should not take up now. I can accumulate $$ to buy others property in the future. Most of property in Penang also can appreciate, why I wan to bear the higher risk to buy 75 yrs lease ler, if the story is true.

 
July 7, 2009 at 11:07 PMAnonymous

Thanks for reminding/summarizing the pro/con again. The reality is what do we really WANT and how much do we willing/afford to pay for it? The advantages that attracting and the worst case disadvantages can tolerance, these are very personally subjective. A smart consumer/investor always know their decision well, stand firm and having strong faith.

Decision making without faith is a big mistake, yet regreting & complaining is another bigger one.

 
July 8, 2009 at 2:04 AMHp

What make you so confident in this investment?
Just believe and faith?

 
July 8, 2009 at 12:08 PMPalymra

Hpbeh, you need to do your own study. Other people can't decide for you. But I were you, I won't even stay at 1-World. I will try to sell it once OC obtained. That is why I advice buy another property now.

 
July 9, 2009 at 1:56 AMAnonymous

Hey Mr.B and Mr.Be, this properties is not suitable for you, I advise don't waste your time here.

 
July 12, 2009 at 9:52 PMHp

I have a new point to share here, after do some study, actually a property price also base on the age of a property.

Example: Compare Property A with Property B
Property A:
Lease hold start countdown from 99 years
Building completion date: 1989

Property B
Lease hold start countdown form 75 Years
Building completion date: 2009

After 20 years = 2029

1. Compare Lease hold duration:
Lease hold for Property A left 59 years
& lease hold for property B left 55 years
If compare lease hold duration, property A is more longer

2. Compare age of the building
Property A is 40 years old
& property B only 20 years old
If compare by age, Property A is older

As long as the property age is young, the price may be being able to overcome the lease hold matter. The demand is still there.

Someone agree with me? Thanks!

 
July 13, 2009 at 12:17 AMBK

One of my friend jsut booked a unit recently from Ideal. Don't know why still got unit. I thought someone mentioned 100% sold out? Must be some loan issue or "return unit". I think he doesn't realise of the 77 years leasehold thingy yet. Will surprise him soon. Anyway, chances the leasehold period to be extended to 99 years should be high. If you want to upgrade it to freehold, got to pay some money la.

However, I do not think this project, similar to many others recently completed projects, would see more than 15% capital appreciation once completed. I am talking about Birch Plaza, Palm Palladium, The Spring, i-Regency, D'piazza, etc. Many property speculators booked 2-3 years ago and wishing to sell at 100k more (30-40% profit), many "For Sales" signage still there. Many projects have less than 20% occupancy rate. Many claim that the asking price is the market value. Please la. Simply greedy.

For those who intend to buy their first home for own stay, recently completed projects price most likely will drop in the not so far future. Be patient.

 
July 13, 2009 at 10:04 PMUnknown

Hello there, I failed to get approve for the bank loan due to too many commitments. Hence I would like to let go the unit to the interested buyer for 1-World. Unit type is Cambridge Semi-Detached Suites with 1370sq-ft. Is come with 2 car-park as well. Will release with original price. Pls do not hesitate to email me at alberthee@gmail.com. First come first serve basic. Thx.

 
July 14, 2009 at 1:44 AMnono

Hi Albert, why still holding the unit? Since you don't get bank loan, you should cancel your booking and let the developer call others in waiting list.

 
July 29, 2009 at 3:53 PMUnknown

I just booked a unit last Sat. For me the only doubt is the leasehold. Others is very perfect, location, price and I like the layout for this project all the space is maximize.

I have confident for Ideal and I believe they can complete the project.

*This is my opinion.

 
July 29, 2009 at 4:09 PMHp

Hi Yam, do u know got 1 World 2 behind our Condo?

 
July 29, 2009 at 9:35 PMUnknown

still have any unit leave?and how sure the IDEAL will complete the project??C.E.O, still not yet finish...that project started very soon, but until now still:-( ,btw the pilling process are very very slow,every weeekend i will go there and take a look, only few workers there...feel like ideal not really care about the project. so sorry, i just want to know more what happen with IDEAL.any advise.thanks

 
July 29, 2009 at 10:07 PMHp

Mr Goh, u means 1 World or 1 World 2? Up to today 6:10pm, 1 World still hav some unit left, most unit is near the lift. 1 world 2 will launch soon.

Regards pilling process, i visit construction site today around 3 to 4pm, i dont see any pilling work in progress.

But i hav confident with this project.

 
July 30, 2009 at 12:12 AMnono

Hpbeh... that is 1 sky. it was launched... the show unit also is opened for visit.

 
July 30, 2009 at 12:19 AMHp

Ya i know, but they temporary use the name 1 World 2. at 1st i also wan to change to this project, coz got swimming pool, but most of balcony face to the rumah setinggan, not very nice. So finally i sign my existing S&P.

 
July 30, 2009 at 12:29 AMHp

1 world 2 not officially launch yet. but the respone is very good. Lease hold is nothing in Penang now.

 
July 30, 2009 at 12:29 AMnono

i heard they reserve 1 block for oversea market, means only sell to foreigners. Is it true?

 
July 30, 2009 at 1:46 AMHp

Just ask developer today, they will open to us soon, Henry Butcher is appointed agent for block B

 
July 30, 2009 at 1:52 AMHp

I found the most important good thing for this new project... wan to know pls e-mail me. behhockpoh@yahoo.com

 
July 30, 2009 at 8:35 AMUnknown

one world,pls refer to S&P page 16,i only worried,they cant finish the project or only on half way.
one world 2 is 1600sq.f up,mean is start from RM310,000.
HI hp beh,thanks for ur sharing here.the building finish duedate,from the S&P stated 36 months from sign the S&P,but now the developer precess really slow,next time u go there can capture some pictures,we want to know how many worker there??thanks for ur help.
regards,
goh

 
July 30, 2009 at 8:40 AMUnknown

I've signed my S&P for 1 world unit last month after get offer of Public bank loan. There was 10 sets of S&P copy i have signed. After sign, i been noticed that i still need to sign another set of "Loan Agreement" by then. Yesterday i called my Public bank staff, she told me that Public bank KL had on-hold all loan our loan agreement for approval. I'm not sure anything wrong between developer and Public bank KL...Do anybody here know something about this case? Can make some sharing here....?? Thxxxxx

 
July 30, 2009 at 11:35 AMUnknown

Hi littleBear,
That what i said on S&P pages 16,there have a problem bwt bank and IDEAL (developer).I'm sure that P.bank also have a concerned on the S&P. The problem is like,example,if IDEAL done 10% of the work process,then will correct 10% of money from BANK(normal),but some of the process only done 10% but IDEAL will correct from BANK is 20-30% money. If the building only done 80% by the time IDEAL already correct 100% money from BANK,unlucky IDEAL dissapear,other developer will continue the project,mean on that time we need to pay extra 20% or more for the new developer for finish the building.(HIGH RISE FOR US)i still pending for this project,please someone or owner can verify.thanks.

 
July 30, 2009 at 2:35 PMUnknown

Goh and Bear, when I look at SPA progressive payment page, I thought I saw that developer can collect last portion of payment only after vacant possession and we confirm everything is okay with the unit? That type of payment is standard in most SPA, it is meant for us to repair the unit with that money if developer fail to do so. In that case, how can they collect 100% payment from bank? A negative point Ideal make with that payment, however, is they reduce the last portion from... I think 10% into 5%. I do not have the SPA with me right now, can someone confirm again the progressive payment?

 
July 30, 2009 at 5:58 PMUnknown

Hi Goh,
Yes I know there is another 1 World II beside the 1 World show house. I most interested on world 2 than world 1 but all bcos of financial.

 
July 30, 2009 at 6:01 PMUnknown

Hi goh,
Thx for the info about pg 16, I'll ask them b4 I sign.

Btw, the 1 world 2 I heard the starting price is from RM328k for 1450sf. RM226/sf.

 
July 30, 2009 at 9:09 PMHp

I don’t have S&P in hand, but I think PBB don’t have problems with payment schedule. I just verify from Mr GOH who in charge 1 world housing loan, a lot of buyer have been signed S&P with PBB few months ago, I don’t think PBB don’t understand how the payment schedule before made approval the loan.

In addition, Hong Leong & Am Bank also approved a lot of application for 1 world’s buyer.

May be the quota already full, because previously I also apply PBB and already get approval, but I reject the loan, because I don’t confident in this project last time. When I re-apply from PBB again, my loan can’t get approve.

 
July 30, 2009 at 9:11 PMHp

As I understand, bank will release money to developer base on certify letter from architect. I don’t think bank will simply release money to developer; if like that bank really stupid enough.

 
July 30, 2009 at 9:15 PMBK

RM226/sf is good price at this location. The 77 years leasehold is really a risk, most banks won't approve loan for leasehold house less than 60 years left. Would be very difficult to sell. iDEAL is really aggressive on property development, so many projects on hand. i-Regency, one world, CEO....

 
July 30, 2009 at 9:20 PMHp

i will visit construction site by tomoro. Dont know they allow me to take photo or not. But i confirm pilling work will continue on this Saturday and Sunday. Bcoz show house is opens haha!

 
July 30, 2009 at 9:24 PMHp

BK, i know your concern, previously i work as Morgage loan agent in UOB. Unless your property lease hold is less then 30 year. no problems with the loan approval.

 
July 30, 2009 at 9:33 PMHp

For 1 World 2, 226 per sq ft is really cheap. but the maintenance fee doesn’t make sense at all, only 0.124 sen per sq ft. standard is 0.15 to 0.20 sen for property with swimming pool. Don’t forget, we r under commercial title. Our electric bill is more expensive then other. How can?? May be increase after management change.

 
July 30, 2009 at 9:43 PMHp

If you visit to ideal gallery or home page, a lot of in coming project. such as Penang International City near air port, Ideal Tower at Georgetown, Super Condo at Batu Ferringi, KL, PJ, Kuantan, Oversea…

 
July 30, 2009 at 10:09 PMHp

Regards the 77 years leasehold, developer shall apply to renew to us, but lawyer told me is 1 time only, if fail to do so, we must apply in the future. dont know how true is it.

But for me, that is not my concern anymore, i already prepared for the worse. i hav 99% dont believe this property can be re-new, but i also hav full of confident, our investment sure will work in this project.

Now a day lease hold is reali nothing in Penang. Population is increase every year but size of land in Penang is still the same. how many reclaim land we can do?

Just look arround for the pending new project, We r no longer get new condo below RM200K to 300K in coming 2 to 3 years, if i dont buy now, i will regret tomoro.

 
July 30, 2009 at 10:40 PMUnknown

Hpbeh, how much ideal pay u or u must be ideal's staff. don't be that hard sell. there are tonnes of good properties in penang.

most importantly, we must share the doubt we have. not try to cover it.

 
July 30, 2009 at 10:49 PMHp

JS, pls dont blame people b4 u reali understand, y i must bcome staff of Ideal. my salary even more then them.

 
July 30, 2009 at 10:53 PMHp

Pls read my previus post, i condemn this project untill ideal agent wan to kill me. and wat i try to cover. Reali Funny!!!

 
July 30, 2009 at 10:56 PMHp

U r rite, tonnes of good property in Penang, but y cant this 1? And u afford to buy? Platino or The Light?

 
July 30, 2009 at 11:00 PMHp

In my previous post, i state out a lot of negative point... unless u r not interest buyer for this project.

 
July 30, 2009 at 11:21 PMHp

I know a lot of info regards this project and company is bcoz im a serious buyer, I took almost 4 months to do my study. I booked on 14 March until now.

Silly people! Unless ideal pay me in order to stopping me pointing out negative post!

 
July 30, 2009 at 11:23 PMUnknown

u condemn cos u have not place the booking yet.
u hard sell cos u have placed the booking and sign the s&p perhaps.

i invest in landed not high-rise. going to be bubble soon.

 
July 30, 2009 at 11:24 PMUnknown

well, i know there are ideal's staff in this post. CL is definitely ideal's staff.

u, i dunno.

 
July 30, 2009 at 11:28 PMUnknown

how many of their upcoming projects will be realised? those who know ideal's background will definitely have the answer.

 
July 30, 2009 at 11:28 PMHp

Halo i place my booking with date in previous post.

 
July 30, 2009 at 11:32 PMHp

That is not my business. i just concern this project completion date.

 
July 31, 2009 at 12:46 AMHp

Dear JS.

I just can accept 77 lease hold property become my Home, bcoz I worry I hard to buy property in the future doesn’t mean that im HARD SELL

I pointed out a lot of negative opinions in my previous post, proved that I don’t try to COVER ANYTHING

I let other people know my ideal agent name and contact no, my unit details, my full name and hp no, proved that I am not someone from COMPETITOR COMPANY

Pls do your sharing in your landed blog, bcoz u can’t share anything here rite? Bcoz u totally don’t interest in this project, u totally don’t do any study, how can u suddently come and give your opinion, am I rite? Except you tell us the bad reputation of Ideal Home.

One more thing, after u read all of my previous post, do u stil think I’m so Hard Sell? So try to understand 1st.

So, looking forward to get your opinion when I afford to buy landed property in the future ok! Thanks! Bye!

 
July 31, 2009 at 1:54 AMAnonymous

It is always the matter of budget, just like buying a handphone. U can choose to buy a full feature phone at the most high end price, or u can choose to pay less by trade-off either w/o GPS or w/o 3.5G or Camera only 3MP.

As long as u get what u want, at the expenses of acceptable trade-off, then it should be considered as a good buy. For those who did the study or read the blog, I do not have to repeat the pro/con comparing other project at similar price range. Remember also, high risk high return for those buying for investing...

 
July 31, 2009 at 2:15 AMHp

Ya! You r rite! Proton's car is low quality, but we can see it anywhere. Im also one of the owner, doesn't means that buyer dont know, just same with Ideal Home. One word = Budget.

 
July 31, 2009 at 7:29 AMPalymra

1. Developer issue
2. 77 Year leasehold - Once your leasehold only have 60 years, difficult to get bank loan. Difficult to get an leasehold extension. If developer can't extend it now, then possibility to get it in the future is low.

 
July 31, 2009 at 8:09 AMUnknown

Dear all,
1) YA,developer is one of my main issue. (last time the "THE PALAZZIA" (beside USM)that project alos belong to IDEAL,but this project was stop for almost half year only continue back the project.So i hv not really feel confident with IDEAL,SO what is the point for u all to said that confident with IDEAL?please share out ur point.

2)77 years leasehold...that is no problem for me,coz once i consider to buy i dun think i want to sale it.The location and the unit design are suit for me.

3)HP BEH for ur P.bank loan can't get approve,what i understand is P.BANK bagan Prai only can DO or accept for 30 units,this is set by the HQ P.bank KL.

I very interested with this project,but i less confident with the developer,worries about thier can't finish the project,and less buyer ay one world.

 
July 31, 2009 at 5:03 PMLAW

to me i can't accept 77 years. i admitted that i interested in this concept of project, i.e. home office+nice layout but when find out it left 77 yrs(plus commercial land), i worry that it might not a good investment. i m not rich, it is my hard earn $$. 77 minus 3-4 (property to be completed), at the i move in it left 73-74 years. after few years, left less again. at that time maybe resale value is bad already. if it is 90 years+, i definitely will buy.

 
July 31, 2009 at 6:11 PMHp

Ya, this project is only suitable for those who can accept 77 years lease hold property, as I analyst in my previous post, I totally don’t believe this project can be renew after completion. I just believe in black & white.

 
July 31, 2009 at 6:12 PMHp

Mr Goh, your problems is very easy to settle. Make the story short, I have confirmed, there are a lot of buyer oredi sign S&P & ready to collect their stamping copy at Ideal Office, just now I also ask my agent to show me one of the S&P stamping copies.

Why we need to sign S&P? That is a contracts between us and developer, contrast protect buyer & developer, developer must finish within 36 months from the “date of stamping”. If completion date is delay, I also can accept, at least I can earn around RM2534 per months. And we can get this money immediately upon the date we takes vacant possession of the said parcel. So, am I answered your question? “Why I confident with this project”

Ok next, regards I-regency, why so many people complaint this project delay. Actually this project totally don’t delayed at all. Just the stamping date is delay due to certain technical problems. Means that after buyer sign S&P in 2005, stamping date delay until 2006, completion is 2009. We don’t need to concern regards these problems at here. As long as our neighbor’s S&P oredi stamping, if u want to verify, pls visit ideal Gallery and see the stamping cop. I just verified.

 
July 31, 2009 at 6:15 PMHp

Mr Goh, I just visit construction site around 4:30pm, I had capture some image, but don’t know how to show u. May be I can e-mail to u if u want. I saw 4 persons working there. Pilling is in process.

Regards the payment schedule, if u wants to know in details, u can join other buyers who want to sign S&P, then u can ask lawyer, ask our developer to arrange for u. But I can confirm bank’s will release money to developer base on certify letter from architect.

 
July 31, 2009 at 6:16 PMHp

I know the developer background, some of my ex-colleague previously also working there. Remember, past track records doesn’t mean that future records. But I don’t concern how bad the past records and how about the future project can realize or not. I just concern for this project. I confirm our S&P had been stamping. 36 months is start countdown, 77 years lease hold & commercial title I can accept. Nothing I need to worry start from today… except the quality of works. That is out of my control.

That is all my opinion to my potential future neighbor, I don’t hard sell here & I don’t cover anything, bcoz I just a normal buyer. Thanks!

 
July 31, 2009 at 7:20 PMUnknown

Dear HP BEH,

You can email the photo to gohaiwha@gmail.com, thanks for your help.
Usually like this kind of suite will take how long to finish? 4 persons??!!Seem like just "SAJA" show for us they already started the project.When they only FULLY run the project?

 
July 31, 2009 at 8:35 PMHp

If the construction works smoothly I think within 2 & half years can complete. Actually pilling work don’t need too much workers, bcoz just 2 pilling machine on site. 2 persons operate machine and another 2 just monitor only. Normally at this state is the most important state, bcoz building can settlement or crack is depend on how deep and how proper of the pilling job. I hav send the image for :)

 
August 11, 2009 at 3:37 PMUnknown

I posted a question about the commercial rate of electric bill to TNB and their answer is we can report to TNB that our apartment is not for commercial purpose. Then they will come to check is it true about our report. If yes, then they will change to domestic rate electric bill.

 
August 11, 2009 at 10:42 PMHp

Good effort :)

 
August 12, 2009 at 7:47 PMUnknown

Thanks.. Yam.. this is great news for us.. By the way, do you all already receive 10% construction claim from iDEAL? I also noticed one un-professional iDEAL employee, not sure her exactly name. If not mistaken, should be Miss Poh. She really un-professional, will show black face when ppl question too much.

 
August 13, 2009 at 6:03 PMUnknown

But when renovate the electric rate still under commercial lo :(. I hope that the time for changing to domestic rate won't take too long.

Yes, already receive the letter from iDEAL about the 10% construction claim. For me Miss Poh she quit nice employee. mine is Shirley.

 
August 13, 2009 at 11:19 PMHp

Me too is Shirley... Cheers!

Hoo, i think Miss P oredi get your message... bcoz they also follow dis forum as well. hehe!
Make sure next time u dont owe her money! Just Joke.. haha

 
August 14, 2009 at 3:27 PMUnknown

Is there any chance to change the commercial title to residential title????

Can any one answer this question????????
Thx

 
August 15, 2009 at 12:52 PMUnknown

Yes, I do agree Shirley was very nice sales admin. But for Miss Poh, she really has to attend some training courses to learn how to serve clients, haha. Maybe she is in higher position in iDEAL, not a sales admin, that's why so arrogant. Last time, I heard some buyers call her "Yes Lady"... only know said "Yes!!! Yes!!!Yes!!!"

 
August 20, 2009 at 3:50 PMUnknown

Is there any "tai ko" renovation company that 1-World asign????

Can we take outside contractor??

 
August 20, 2009 at 5:30 PMSimon Tan

Hi Yam,

Of course you got your right to take outside contractor for renovation, myself is a ID contractor, before you start renovation please make sure you write a notify letter to the developer informing the developer you are going to do renovation on your property.
To my understand and is only happened in Penang, many developers are scared of the gangster contractor, so they are asking the owner to engage only the so called " appointed contractor by developer ", if the owner do not take up their contractor, some developer will charge certain fees such as clear of rubbish & debris, purchase of cement & sand etc. so ask a contractor we sometime got no choice but to give in to their demands.
By the way if you need any help or quote please contact me - simon tan 012 4288306
Thanks

 
September 10, 2009 at 12:12 PMUnknown

Anyone heard of any news to update the purchasers here? Anyone knows how long does it normally takes for apartment piling stage to complete?

I just heard from bank loan agent that Ideal is yet to stamp my SPA. I would need to check with them on what is holding back. Reminding all purchasers to make sure your SPA is stamped as well.

 
September 13, 2009 at 1:11 PMUnknown

Dear all,

I bought a unit of 1-World and i agree the point that HPBeh mention, as i too purchase the unit because of its stategic location and package.

Futhermore i have a very good experience with IDEAL with their Ideal Regency Project.

regards

 
September 14, 2009 at 5:05 PMHp

Ha! Seems very quiet here, I just visit the construction site last Saturday, I think the pilling work is nearly completed at Wing A.

 
September 15, 2009 at 8:16 PMUnknown

Great pilling almost done.

I signed my SPA but don't know whether they stamp already? haven't receive any letter to collect the SPA.

 
September 21, 2009 at 8:21 AMUnknown

last month jz signed the cancellation form of 1-world,until now still can't get my check:-<,they promise 3nd of sep 09,i called and they said not yet ready,18 of sep 09 called agian they said the sale dept not free...:-<,btw remember the CEO project??still hanging they,seem like not 1 working so long time ago.i dont understand WHY a cancellation need to take how long time they only can settle???!!!

 
September 26, 2009 at 11:05 PMJMC

Guys, we at i-regency(this same developer) are now suffering. Beware of this developer.
Their condo management appoint their own gangster contractor to rip the residents.

Sand/brick/cement ARE compulsory to buy from them... and even the Ideal office agreed on it.
Dont believe? Call Miss Ooi from IR and ask.
Oh and u guys delay signing in S&P is their strategy... When we bought IR few years ago they also drag the signing of S&P at least half year. Beware.

 
September 26, 2009 at 11:10 PMJMC

My correction, u sign the s&P but the date is empty. They will delay the stamping of date at least 6 months.

 
September 28, 2009 at 5:37 PMUnknown

I got my 1-World stamped SPA from lawyer last week, it is in my hands now...

 
October 1, 2009 at 5:00 PMHp

Hi, Future Neighbour:

Any feedback or ideal, regards I-Regency management appoint gangster contractor? Thanks!

 
October 8, 2009 at 10:54 PMUnknown

I-Regency OC Obtain

 
October 12, 2009 at 5:24 PMPaulz

the 1world build up location in terrain view,
http://www.locationmap.org/1world

 
November 3, 2009 at 9:59 PMJoe

Currently problem faced by Iregency residents :-
1) Gangster pit of paradise.. Gangster brought in by I-regency boss to extort his condo buyer.. Brilliant!
2) Roof leaking so bad, worst than cheap diaper
3) Swiming pool leak to car park - free car wash?
4) Cracking everywhere, including car park !
5) Greedy gangster selling cements at $22, and charge $800 for garbage disposal (EVEN IF U DONT HAVE 1).
6) Things get uglier, the GC decided not to sell the your contractor the cement/bricks/sand so they can try to grab more work. All my reno job got halted.

Gratz on all this excitement, hell yet to come.
Dont believe? pay us IR a visit. Oh yea, dont bring measuring tape or wear like contractor else u will kena stop at threaten you.

Good luck

 
November 3, 2009 at 10:41 PMHp
This comment has been removed by the author. 
November 3, 2009 at 10:43 PMHp

No body complaint to Ideal meh?

 
November 5, 2009 at 4:15 PMUnknown

They are same gang of people. How to complaint? They will just say this is not true, maybe say their boss will talk to the contractor. But nothing will happen.

 
November 23, 2009 at 3:06 PMUnknown

I have made a cancellation of a unit @one world and I have requested a refund of my deposit . T he sales staff told me it take two months to get back my deposit . the sales staff did not inform me during sales at their office. I feel cheated Now I know that the comments earlier about this type of developer is true . They are not what you see. bunch of selfish and greedy lot living on interests given by the bank using other peoples money. very cheap

 
December 2, 2009 at 9:21 AMbosuka

Isit the developer got financial problem, anyone to share?

 
December 3, 2009 at 10:49 AMUnknown

Can check with u all, how much the price n which sqft? really interested to buy 1 unit but want to check whether its worth it to buy.. also price for 1 world2..

 
February 25, 2010 at 11:11 PMHp

Just received progress update letter from Ideal. Aiyo when can finish har!

 
March 7, 2010 at 1:22 AMUnknown

I smell a rat of the marketing gimmick of apply lease extension only after OC, means you have to be prepared to pay extra premium for extension. Why government allowing this kind of 'scam'????? Please make sure you understand this before sign the contract.

 
March 8, 2010 at 1:17 PMHp

Gazer, thanks for your comment, we know this before we buy last yr. Ideal will help us apply for this, if failed to extension, we might use our own money to do it in the next future. But, i dont think this is important for me, otherwise, i sure dont believe in developer sweet talk. Since developer oredi give us a special package to own a quit biger house in a very strategy location. Bayan Baru is my love place to stay in Penang. Near Bayan Lepas Industri area, Penang Bridge, Air port, Queensbay, Giant, Bukit Jambul, Hawker centre, Wet market, Post Office, a lot of bank, Pantai Hospital, No serious traffic jam. All Worth for it.

 
March 8, 2010 at 5:20 PMUnknown

Gazer - we were told that they are only applying to extend the lease after O.C = Block Title issue. They save cost to extend the lease only for the apartment block and NOT THE ROAD surrendered to the govt. Well, it makes sense! Why would they want to pay to extend lease that is already belonged to the govt! A valid reason.

 
March 23, 2010 at 1:20 AMHp

Heard that I-Regency cant get strata title approved due to dont follow the actual approved plan.

 
March 23, 2010 at 8:37 PMUnknown

posible cos I-Regency based on extended renovation agreement. SPA mentioned only 950 sq.ft and extended to 1220 +++ so plan not the same sure cannot get title lor....

 
March 23, 2010 at 10:11 PMHp

In this case, how they going to get strata title?

 
April 8, 2010 at 2:31 PMTM

Launching nearly 1 year only pilling done??? Maybe quality should be very good! Good luck to the buyers.

 
April 9, 2010 at 4:09 PMUnknown

Hi TM, as the developer is subsidizing the interest. It is common sense for them to speed up the work as the longer they take to complete the project = more cost incurred by them.

 
April 10, 2010 at 12:22 AMUnknown

Hi all, dont be so ignorance. If Developer dont pay interest, or kaput the bank will only go after the buyer and not the developer.

 
May 5, 2010 at 11:20 AMUnknown

Hello, fine business everyone!

Wow! I took 2 days just to digest at those 400-odd fine posts and views.

I booked a unit at Tower 1(17-th floor), loan approved and signed with affin bank.

SPA not yet called up to sign.

For the record, I grew up at Sungai Ara Estate and Jalan Tengah during the 80's.

Sunshine Square area back then was a muddy, congested wet market and hawker stalls at night (nice fried oyster they sell there back then).

The area near the location right now (now fenced-up by the project) was the place where the driving school conducted my bike riding lessons.

IMHO, nice location, near everything - no need to repeat many times. I have to drive 15 minutes just to get to the nearest KFC restaurant from my current Seberang Perai dwelling.

The developer's package is also commendable as we don't have many savings (with 2 young kids).

Keep posting folks!

*just my 2 sen views.

 
May 6, 2010 at 7:58 PMtommy

hi belt,
welcome to 1 world and by the way have you seen the progress in the site area and also what is the rate given by affin?

 
May 17, 2010 at 8:28 PMUnknown

1-World/1-World 2 Owners

I would like to check with you :
1) Is this property under Commercial Title as stated in your SnP ?
2) Is any one manage/successfuly to withdraw $ from your EPF a/c for this property ?

 
June 2, 2010 at 8:30 PMUnknown

Selling price?

 
June 4, 2010 at 12:00 AM1world2

Sell at $300K, high floor.

 
June 4, 2010 at 11:56 PMHp
This comment has been removed by the author. 
June 5, 2010 at 1:54 AM1world2

19th floor

 
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