Connect with Us     


Connect with Us               

Developer Sales Enquiry: 9789 8770

New Property Dream News Blog

Be Updated Daily with the New Happenings in the Property Market!
"Hit" the 'Subscribe to blog' on your right for Daily Property News Updates!

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Johor condo delays upset S'pore buyers

Posted by on in Uncategorized
  • Font size: Larger Smaller
  • Hits: 58531
  • Subscribe to this entry
  • Print
A group of Singaporeans who bought units in a Johor Bahru condominium have faced repeated construction delays, changes to the plans and confusing information about when the complex will be ready.

The developer says some of the delays stem from labour shortages and problems sourcing materials. It also says some buyers did not fully understand the terms of the contract.

Investors have asked about the completion date five times for the 602-unit KSL D'Esplanade Residence, only to be told it has been put back.

One told The Straits Times that when he bought his RM750,000 (S$298,800) unit two years ago, the developer told him that the project was already 80 per cent complete.

But in April this year, buyers were told that the development - it sits on top of KSL City Mall as part of a mixed-use development with a hotel - was still only 80 per cent complete and expected to be ready in July.

KSL Holdings, a Malaysian company listed on the Kuala Lumpur Stock Exchange, is still marketing the condominium, and the average price is RM950 per sq ft. Unit sizes range from 1,267 sq ft to 2,023 sq ft.

A spokesman for developer KSL Holdings told The Straits Times that the 80 per cent completion rate cited in 2011 referred to the lower floors and that "every floor has a different completion date".

She noted that just like in Singapore, projects are given a five-year grace period for completion.

"But projects first get three years unless you apply for an extension, which we did not plan for. If we had applied for the extension to five years, this year would have been the fifth year, and we'd be in time to complete the project."

The firm said the sales and purchase agreement begins only on the date of purchase, not the day which construction started. That means every buyer's three-year duration started at a different date. It also means if the project is completed within three years of the sales and purchase agreement, there is little disgruntled buyers can do.

The KSL spokesman noted that completing the project within three years would have been difficult given manpower issues over the past two years caused by government curbs on foreign labour. She said that the condo was completed last month, apart from glass installations that were affected by late supplies.

When The Straits Times visited the site earlier this month, workers were installing the last glass panel and said the development is expected to be completed next month.

But delays are not the only issue for the 10 or so Singaporean buyers who came together on an online forum. They claim they are being short-changed as the project now does not fully reflect the plans at time of purchase.

The brochures said the hotel would have amenities including an 18-hole mini-golf course but last October, buyers found out it had been replaced by a water theme park.

A Singaporean buyer who declined to be named said: "I did not buy the unit to stay next to a wonderland."

The KSL spokesman said: "That area is not part of the residential area; it belongs to the hotel, and the hotel management has the right to change anything."

The experience has left some fed-up buyers regretting they did not read the fine print more closely. The buyer warned: "Check the surveyor report and the clauses in the contract, and what is named in the brochure before you decide to purchase."

Credit from The Straits Times - 24 June 2013
Rate this blog entry:


To all Real Estate Investors and Future Property Owners,

Hello there, this is Sky Chiu, your Singapore Real Estate Advisor, welcome and thank you for reading through to my News Blog! If you would like to be updated with the Property Market Insights, Do Subscribe to my Blog or via RSS on the Top Right of this page!

With 9 years of experience in real estate business, equipped with in-depth property market and new projects knowledge and insights, i committed to give all my valued clients detailed and clearer analysis before they committed to their dream home - whether you are a first time property seller, an experienced property investor, a first time property buyer or a foreigner looking to move into Singapore.

My dedicated services cover my valued clients through the whole process - selling the property at the Highest Possible Price, finding the Right property, negotiating the for the Best Price, to making an Offer and closing the Best Deal. As your Personal Real Estate Consultant, i am here to help you in everything to make the best real estate decision in your life. Your Satisfaction is My First Priority!

Phone Support



We have a group of very experienced property advisors with in-depth property market and new projects knowledge and insights to give our clients a detailed and clearer analysis before they committed to their dream home from us.

We identify our clients' needs, help them to restructure and maximise their property portfolios. We successfully advised and helped our clients on their loan restructuring and financial timeline management on their property investment.

Contact Us for An Non-Obligatory Discussion Today!



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum