IBN Highlands City in Genting Permai is new residential condominium with commercial area of shop lots and hotel. Hotel is run by Gloria, a hotel management company from China.
The project is comprising of 12 blocks of leasehold service apartments. In the commercial area, it is planned to have cinema which is good if it comes true! The commercial area will be managed by IBN itself which I think it is good to ensure survival and exclusivity of the area.
The project is now selling its second block. First block is fully sold out. Mostly buyers for first block are foreigners from China. The whole project is expected to be completed in 9 years time.
Minimum selling price is over RM1 million before discount.
When I visited the show unit, it was luxurious concept, with bath tub for each unit located at balcony. It is fully furnished from furniture till electrical appliances.
Located in Genting Permai and near to Midhills condominium.
What is my opinion on this property? For me it is targeted for high end clientele and rich tourists. Besides, tourists who wants to experience luxurious living in Genting are also the potential target customers.
So if you are investors you should target these kind of customers.
Thanks to the Genting Integrated Tourism Plan (GITP) plan, especially the expected 20th Century Fox Theme Park (now cancelled), 5 new condominium being constructed and completed at Genting Highlands. It actual location is at Genting Permai.
Sky Garden and Multi Tier Security with Access Card
TaiChi/Yoga Deck/Reflexology Path
Exercise Pole Park
Spin Cup Fun Zone
Chilled Out Area
Open Air Messamine Fitness Station
Property Developers Reputation
When choosing a property, we also must evaluate its developer as it will tell whether you will get quality workmanship, deliver on time and as advertised. To evaluate that I compare based on The Edge Property Excellence Award (as it is easy to find info and the award relates on property quality as well).
Besides I try to find the developers QClassic Scoring. Unfortunately not easy to find information for the correspondent developers.
The Edge Property Excellence Award
The Edge Property Excellence Award (TEPEA) is an award given to property developers based on their quantitative attributes:
Quality Assessment System in Construction (QLASSIC) is a system or method to measure and evaluate the workmanship quality of a building construction work based on Construction Industry Standard (CIS 7). QLASSIC enables the quality of workmanship between construction projects to be objectively compared through a scoring system.