Originally posted by redstone:
A property company which
1) shifts entire buildings from one side of the city to the other
2) changes design after property been sold, shifting building around the plot
3) changes colour scheme after property been sold
4) interior rendering doesn't match exterior render (interior shows curved glass, exterior is square)
5) no showrooms
6) no building models
7) claims only selling to SE members (see point A)
8) Issues about Empire State Tower (see point B)
9) astronomical costs of developing so many properties at the same time by a newly set up property company. Extremely high risk. (see point C)
SE claims internal selling of properties. See this. SE claims around 20, 000 plus members, so there's only a pool of 20 000 members to sell the properties too. They had already put a few thousands into SE, what makes them want to buy a property? The pool is so small, what's the percentage of members who will probably buy a unit? A unit is not cheap too. Furthermore, SE/EPV is a newly set up property company, with no history, no experience (only experience in lots of failed property project scams like Magic Kingdom).
First, EST was shifted from Jalan Raja Chulan to Jalan Tun Razak. Shifting buildings? Second, the site at Tun Razak is just beside highway viaduct, and there's a slipway ramp on the other side of the site. Extremely bad conditions. Air pollution, noise pollution, no privacy. The design of the units are horrible, looks as if it's done in a hurry. Design, layout of the building is horrible. Colour scheme changed once, from blue to gold. Interior renders show curved glass, but the building is cubic. With such a bad site location, and the small pool of members, you think it would have sold a great majority only after a short time?
Sunshine Villas, EST, the melaka theme park, underwater hotel in Sabah? First, land at Jln Tun Razak. Land cost? They make the tower so luxurious. Fine. Construction, cost of interior decorations? Underwater hotel? Any idea the astromical costs for such an underwater building? They are not many underwater buildings in the world. Firstly, cost of engineering. Cannot get any Tom Dick or Harry engineering company to design the hotel. Need specialists. Cost goes up. Construction, also cannot get any company to do it. Must get specialists. What if the hotel caves in or collapses? Then, water quality, view distance in water. Is it clear enough? If not you'll look at a murky sight, like a giant tank of Milo. So where are the advertisements? In engineering, architecture, business, luxury, design, travel, financial journals? If really there's an underwatr hotel, it would create a buzz around these fields. But...?
Back to costs. Developing a property needs land costs, construction costs, finishing costs (interior finishings, etc), design and engineering costs, etc. The cost of the properties and the wireless infrastructure alone could very well exceed the entire worth of the company. Bank loan? Loan to company with zero experience in property?