Quayside JBCC - Johor Bahru, Johor Darul Ta'zim

Melissa A.

I was a buyer of a unit at Quayside. I am contributing my fair share of my experience because I appreciated the frank comments from many on this page and I benefited from the many frank posts and opinions. Let me start of with advantages of why I bought: 1️⃣i was into the idea of a business plan of hotel management of rooms rather residential buy and rent for income. Rental management for 20+10 years (70/30 profit sharing from year 6 onwards) all the more its Oakwood and Hyatt 2️⃣ developer gave guarantee for buy back scheme if no bank loan approval and also change of mind anytime within year 6-8. 3️⃣ 30% guaranteed rental over first 5 years (6% per annum)4️⃣ 40 nights free stay (8 nights per annum for first 5 years) definitely I could always cross the causeway and enjoy this privilege.
Why I ended up with not having a unit 1️⃣my bank loan was not approved but developer is offering interest-free instalment plan instead so you can save on the 4.22% interest of a bank loan. Which is very sincere of the developer. 2️⃣ I don’t have the guts to continue after seeing the currency exchange rates drop more than 10% since my deposit payment. Of course it might not weaken further but I admit I have no more guts. 3️⃣ thank you for many frank google users for posting real time videos and photo graphs of the construction progress. I lost confidence when I know that the construction site is very slow moving in fact not much works done. Appreciate and hope that many will help those who are still invested in this project to witness and timestamp the construction site especially above hoarding boards view. 4️⃣ today 15th May 2024 most importantly yes developer honored the 100% refund of my deposit due to my bank loan not approval. Which is why I bother to pen down this longest post in my history of all my google reviews to at least give a frank cheers 🥂 to the project sales and developer team.
To all other investors in this project I do not know if this will be a money making investment for all; but I wish all the best to everyone who have fate and faith to continue with this project.

Tim L.

很好的規劃，擁有兩大國際飯店管理，省去很多代管的麻煩！也確保了租金收益

Peter R. S.

Based on our due diligence; this is a worthy project to invest. Hyatt and Oakwood (subsidiary of Ascott/Capitaland) do not do shoddy work. Located at the cultural site and with free shuttle to and from the new RTS. Guaranteed returns for first 3 years and profit sharing after that.

I suspect those who put very bad reviews are from ‘competitors’ or may have bad previous experiences.

Btw, the show room is at Raffles Place Singapore

Robert C.

This will be a nightmare for those who bought unfortunately. In order to tell whether a project is any good in malaysia just looking at the banks who are willing to finance the project. Are majority of the big local banks like Maybank, Public Bank or RHB bank financing the project? Nope. Only Kuwait Finance House financing the project as far as I know. What does that tell you?

Secondly there is no individual exit plan unless somehow, miraculously some consortium decide to buy over the entire building. Coz no sane person or bank is going to finance the sale of individual "hotel rooms" which you have no control over.

As for rent, there is alot of new hotels sprouting out and there is no guarantee of your unit being rented out consistently. And not forgetting you will have to pay gor refurbishment cost every 5 years even if your unit is under utilised.

Good luck guys.

Lovely L.

This project is a “hotel type of deal”.

You will not have full control after you buy. You are not allow to stay there and you have no control who you can rent out to.

If the hotel management quit and left; it will be left empty.

The salesperson will tell you how famous is the hotel management. Just look across the street. Pan Pacific Puteri; Pan Pacific also very famous but the hotel go belly up.

Buy an apartment that you live and have control over.

Those 5 stars reviews can be from agents and associates promoting this project. Please discount 80% all the 5 stars review.

This project is not a long term investment. It will become long term suffering. I hope no more Singaporeans end up suffering in a prosperous city. Buying in JB is correct; but buying a wrong project can destroy your financial future.

I currently own Astaka and Sky88 in JB. Fellow Singaporeans please do more research when you consider this project.

antihunter

Not saying it is very good project or bad, but below is my assessment that you should consider as buyer for due diligence.

No full details of the site plan, interior furnishing, no show unit sample, can only view from brochure and assume with imaginations. Also the walking distance to new RTS is quite a distance (no traffic light) and walking to shopping area has no traffic lights for pedestrians. It’s a safety risk.

Positioning itself close to banks is useless to leisure travellers who is looking for reasonable room rate. Being close to business offices is subjective, business traveler don’t rent big units, they just need a place to rest and usually around 12sqm. Unless the management is able to work out deals with surrounding companies on standing agreement for corporate rental for long duration service apartments rental to improve its revpar and room occupancy rate, otherwise I don’t see high chance for consistent good yield. But there is no details on how the management going to ensure occupation rate to be above 80% “for your unit”. This has not taken into considerations there are other nearby hotels/service apartment to compete against the occupancy rate; all fighting for the customers.

Year 6 onward returns are based on projections with 70/30% profit sharing. Total yearly returns yet to minus away maintenance fees, taxes and other fees. Please note that fees increases on yearly basis, any figures quoted by agent is subjective to yearly inflations and other factors.

Also service apartments is easy to buy, difficult to sell in future because yield may drop. 20 years of locked-in to management is also a risk, no rental = no yield. While it is convenient for a management team to help you manage the rental, you can also be locked in to constant loss or break even as “you have no control of your unit for 20 years”.

There is also no mention of furnishings renewal or updates during the first 20 years. It could be the same piece from day 1 to year 20. It could be at the point of the unit hand over on year 20, you could potentially see broken furnitures, toilet and kitchenette. The most concerning part is building maintenance, most are not built to last and there is no details on maintenance plans.

Other potential risk is building/property infront of the reclaimed land at cheaper price or blocking the view .

Please do your own due diligence for investment as you may also end up losing money. Even if you break-even at year 20, it is as good as never invest in the first place when your money can be channeled to other valuable investments.

Don't forget, you are also paying high interest rate for the monthly loan repayment.

Other factors include forex risk if you are investing as a foreigner and their currency strengthen overtime (which i guess likely not.)

Zed S.

Bought a unit because I believe in it. It is near CIQ and walking distance to RTS. I also trust Oakwood and Ascott (owned by Capitaland)

If you are a person that frequents JB and Singapore, you would know that this location is beside the Tan Hiok Nee famous bakery. It IS a walking distance to CIQ and future RTS contrary to the long comment made. There ARE traffic lights, it is near Zee Hotel which you know just have to walk a straight path to City Square Mall. Arguably, if you been to R&F Mall, the long stretch of bridge is more than 1km long. It is about the same timing or even faster for Quayside to walk there.

Quayside to R&F is a short walk too, where you can go to the mall there (less than 1km).

Rome H.

The progress is not moving for months after one year. If this continue how ur TOP in dec 2026