Monday, February 25, 2013

Ready For Orders : Meridian 101 Degrees

Earlier I posted some concerns about Meridian 101 Degrees. After seeing the booking form, I realized the developer has not yet received the Development Order (DO) from the authorities. Nevertheless, they have started to take orders. Apparently, a Japanese investor has blocked booked 100 units. So, now only 59 units are left for sale. We have 1st pick and it will be 1st come 1st served.

We now have a block of 20 buyers. However, the developer is reluctant to negotiate with us until they have seen this block committed with booking cheques. The cheques shall be issued in the name of their solicitor, "Messrs FL FOO  & Co" as Stakeholder. The selling price is now RM1,410psf with no early bird discount. Here is the deal:

1. We might be able to negotiate some percentage of discount from the developer once we have this block committed with cheques. However, the amount may not be huge, possibly around RM2k - RM5k. No promises

2. We will have 1st pick - only 19th, 22nd and 23rd floors open to us for picking

3. All units and all floors are the same price. However, for KLCC view, you must buy a car park! You can own the car park for 10 years only

Please also note that the developer is a new company, Meridian 101 Degrees Sdn Bhd with unknown track records. They have set up an office at Plaza 138, Jalan Ampang and it is really a very small set up. So, you need to take note that there are risks!


sinleong said...

Interestingly, the developer has posted a comment in this blog stating several misinformation that we received from the Real Estate Agent. I would like to maintain this blog's independence, therefore I have to delete the developer's original comment and repost below with their contact information deleted. Hope it explains:

Dear Sin Leong,

We are are the Developer behind Meridian 101 Degree and would first like to thank you for your interest and write up on our upcoming exciting project in sleepy Jalan Kamunting,but not for long.we hope that our vision to develop this building will bring life to this street injecting urban modernity and yet reserving our heritage to this lovely beloved street.

We wish to address certain inaccuracies contained in your blog, namely:

1. This development DOES NOT have a Guaranteed Rental Return scheme. We have however, secured an anchor tenant who is a reputable international company who wishes to rent from the purchasers of our SOFO units.

2. The individual carparks can be purchased together with the SOFO units and it will then be absolutely belong to the buyer, therefore there is no limit on the tenure of usage therefore your information on the usage of 10 years is incorrect.

3. While we appreciate and thank your enthusiasm and support to gather more purchasers to purchase our units, however, we do not entertain any bulk purchase orders. If you are genuinely interested to register your interest to purchase our SOFOS, pls email us at xxx so that we can put you in contact with our appointed exclusive agent to sell the property.

4. On the issue of Development Order (DO), you are correct that we have yet to obtain the relevant DO, though submitted. Therefore, interested Purchasers can only register their interest together with registration fees to select their preferred units through our solicitors as stakeholders before the DO is obtained .

We trust the above clarifies. We welcome any feedback or enquiries, kindly email to us at xxx

Feedback/enquiries, email : xxx

Kang Jie Lim said...

So have u finally bought the unit there?