During good times, majority of all developers would report good if not great results. Is currently considered a bad time? Well, my colleague told me that she wanted to buy a new shoplot but she may not get the chance because those who have registered are many times of the units being offered. Thus, it is now based on luck as it will be by ballot basis. Majority of REHDA members said that they anticipate tough times for the remaining of 2015. Read here: 40% Unsold even after launching. Well, President / CEO of EcoWorld Development group Datuk Chang Khim Wah said this right after the EGM, “We know the market will be challenging next year, but looking into sales that we achieved so far, even in the last two months at all our sales galleries, we see the demand is still quite good.”
Eco World Development Group Bhd is optimistic of achieving its 2015 sales target of RM3bil because as of August 2015, it has already achieved RM2.37 billion. Overwhelming responses were seen for their Klang Valley and Iskandar Malaysia launches thus far. During the EGM, it has also obtained shareholder’s approval for the proposed development of 181.96ha of leasehold land in Batu Kawan, Penang. Overall gross development value is expected to be RM10 billion spread over a total period of 10 years. First phase which comprises of residential landed homes would be launched end of 2016.
I think it’s plain to see that for some developers, when they have been successful with an earlier project and informed the whole world about it, the selling of their next integrated development is made easier. If you already noticed, many of these branded developments continue to tell the world via all medias, cleverly. Oh yeah, it does not apply to developers who use newspapers mostly. Seriously name me three projects from the newspaper last week that you can remember today? Yes, it is true that even online I may not remember what I read about last week but the awesome thing is, I can still look back easily via online. Last week’s newspaper? Haha.
There is no guarantee that projects from these branded developers would be successful forever. It’s still very important to buy objectively because if you are buying it simply because of the developer, I think you are taking on a high risk. I have a colleague who bought a project which he felt is the best place for him to stay when he retires. Well, he really did buy a retirement home because after buying it, his whole family said they are not moving there today. He would just have to find something to do with it for the next 12-15 years I think. Happy reading and understanding why you buy, not just from whom you buy from.
written on 17 Oct 2015
Next suggested article: EcoWorld: RM1.1 billion for 2,198.4 acres of land in Kuala Selangor