One Central Residences Macau

[HK Bystander]

Originally Posted by MacauVillager28

Don't know much about Vietnam either... but I hear it's not dirt cheap.
I tend to play safe !! Never sure if there are govt changes rules suddenly(China has a few now) which can affect market - including things like capital controls, taxes, financing... hence I've stuck with SG, UK, HK (and Macau - least it's not too exotic and can collect rent !!).
Thailand could be interesting - still cheap (esp since coup) - I've always wanted to get a beach property there, but sounds not too cheap in Phuket.
I'm at my max anyway - I want to be sure I can service all these mortgages.

Since your in HK, why not HK ? I just bought recently (before rate drop), tho admitted new launches now expensive, and developers here have a tendency to price new launches VERY HIGH (so secondary is better bet). Given more rate drops, incredibly high growth forecast (50% in 2 years, 45% maybe in 1 year !!).
As mentioned, did wonder if this rosy sceanario for HK would be negative in that HK'ers would buy less in Macau - but I don't think there is any affect as HK prices will pull Macau higher anyway - and I think HK'ers will be replaced by more mainlanders as Macau remains much, much cheaper and I think, suits them more (HK is just another Chinese city).

Yes, Vietnam properties are certainly not cheap. Last time I looked, about 6 months ago. A "so-called" luxury apt. costs U.S.$400,000 for 1500 sf. But quality & amenities no camparision to HK, SG or Macau. But I heard the rental yield is good, 8-10% or more. Supply is scarce, high demand from expats. And the Gov't is opening their arms to investors. Well, some place to look into in the future.
I agree with you. Comparatively,Thailand is still "cheap". Good time to invest there.
For HK, wish I have invested here more ( only 1 property for own use ). With the rate drop & high growth forcasts, I agree there is still room to grow. But with properties at these prices, I'd rather look elsewhere. I think HK prices will pull Macau higher, Macau is still much, much cheaper.

[HK Bystander]

Originally Posted by MacauVillager28

Have just got floorplan of the units release. I think this phase only 4 units.
They are:
1. Twr 1, Duplex C, 3100 sf, 45-46/F, no balcony (same position as unit C (1 bed) & D (studio) on normal floors combined)
2. Twr 5 Simplex A, 39/F, 4637 sf, w/balcony
3. Twr 5 Duplex B, 41-42/F, 4371 sf, w/balcony
4. Twr 7, Duplex D, 49-40/F, 2301 sf, no balcony

My guess (fm different agents) is:
1. HKD11k psf = HKD34m (Wynn/Lake View)
3. HKD14k psf = HKD61m (Sea veiw)
4. HKD 12.5k psf = HKD28.8m (MGM/Sea View)
If pricing is correct, prices can go higher as 'better' units with more balcony/even better view not released with prices.

If they are releasing them at different phases. My guess would be, 11k psf for cheapest unit, and up to 20K+ psf for the better & most expensive ones.
This will draw a lot of attention from the public, once again for 1CR.

[MacauVillager28]

Originally Posted by HK Bystander

I think HK prices will pull Macau higher, Macau is still much, much cheaper.

I think best comparison of 1CR in Macau would be Cullinan/Arch in HK. They are going/will go for HKD30+k psf for special units, around HKD15k+ psf for small units (around 1000 sf).
Agree HK is expensive, esp super luxury units - a few cases of 100% profit in 1 year when it was 'quiet'. I haven't got the cash/guts for these units (seems like you need to IPO your company or be the IPO banker !!). However, mass/upper-mid, esp secondary seems cheap, but you'll be dealing with local tenants.

Indonesia also has high yields. Guess equation is high yield=high (political) risk ? This and Vietnam, I think, you may need to be risk losing a lot, but yield does mean you get a quick return if things go well... not for the light-hearted

[MacauVillager28]

Originally Posted by HK Bystander

If they are releasing them at different phases. My guess would be, 11k psf for cheapest unit, and up to 20K+ psf for the better & most expensive ones.
This will draw a lot of attention from the public, once again for 1CR.

I think they're still supposed to sell most of these units in 2 weeks (as they shouldn't have the sales forever), despite the 'phases' bit. Maybe it depends on response and prices offered by investors.. Maybe these will be 'bid' up and once sold, other units will be offered to investors who didn't get the units (ie these are indicative prices to gauge how many want to pay this price).

Not sure why Twr 1 unit cheaper than Twr 7 (if my info is correct). Looking at floor plan, Twr 7 faces MGM (and it should be very close), and lots sea in between MGM. Twr 1 has Wynn (maybe fountains), Lisboa grand, StarWorld, Wynn Diamond (close, but not as close as MGM), as well as approx 1/3 lake and hills).

[HK Bystander]

Originally Posted by MacauVillager28

Not sure why Twr 1 unit cheaper than Twr 7 (if my info is correct). Looking at floor plan, Twr 7 faces MGM (and it should be very close), and lots sea in between MGM. Twr 1 has Wynn (maybe fountains), Lisboa grand, StarWorld, Wynn Diamond (close, but not as close as MGM), as well as approx 1/3 lake and hills).

Could be Twr 7, Duplex D 39-40/F even though close to MGM, but because of the position of the tower, it does have some sea view & also view of the Statue of Kun Yam. Wheras Twr 1, Duplex C probably have lesser of the lake view & even closer to the group of hotels???
Will see the pricing of the better special units in both of these towers. They'll probably be the same.

[MacauVillager28]

Originally Posted by MacauVillager28

1. Twr 1, Duplex C, 3100 sf, 45-46/F, no balcony (same position as unit C (1 bed) & D (studio) on normal floors combined)
2. Twr 5 Simplex A, 39/F, 4637 sf, w/balcony
3. Twr 5 Duplex B, 41-42/F, 4371 sf, w/balcony
4. Twr 7, Duplex D, 49-40/F, 2301 sf, no balcony

My guess (fm different agents) is:
1. HKD11k psf = HKD34m (Wynn/Lake View)

One agent website said price sold at HKD11,688psf for unit C or HKD36.232m

[HK Bystander]

Originally Posted by MacauVillager28

One agent website said price sold at HKD11,688psf for unit C or HKD36.232m

Agent said all 1CR units are now asking for avg $7000+psf, after opening of MGM Grand.
One unit D Tower 1, low-mid floor, asking for $9000psf.
Not too many good units ( w/full lake view ) are selling in the secondary market. Guess ppl are holding onto them till completion.

[MacauVillager28]

image hosted on flickr

View of One Central from lake, next to Wynns
image hosted on flickr

Close up of Tower 1 - Building is constructed unusually using pre-fab sections, with windows fitted as building goes up. Tower 1 podium completed, with Tower 1 now at 13th floor.
Pre-fab slabs looks complete, with outer slab looking completed in white. Glass seems to be tinted blue. Looks cool !!
image hosted on flickr

Distant view from bridge. Tower 1 seems highest (tho Tower 7 seems not far behind). Tower on right is Mandarin Oriental, which seems to be constructed in the traditional way (ie concrete flooring first before facade).
One Central seems to be 'integrated' into MGM - there looks like 2 direct connections inside MGM to 1CR. One next to at the back (near Wynns). The other is more obvious, with signs saying walkway/connection to One Central (on one end of the main lobby). Next to this walkway has a model of One Central in a MGM shop space.
Guess they are trying to lead visitors to shopping in One Central since there aren't many shops in MGM. The effect may make One Central MGM's 'condo'.
Picture show Wynn (left) and Arch of Triumph (middle, under construction)
image hosted on flickr

One of the 2 'back' entrances to MGM, with 1CR in background and Tower 1 beginning to poke out of podium (shopping/clubhouse) levels.
image hosted on flickr

Shot of 1CR taken near Wynn's along waterfront. Picture shows other towers. Also shows that residential towers sticking out of the top 8-9 floors of podium. Podium levels already look massive !!
image hosted on flickr

MGM main 'back' entrance.

[MacauVillager28]

A few other pics...
image hosted on flickr

As mentioned, there is a huge hallway integrating One Central and MGM Grand near lobby. The shop with the model states.. One Central.. A Unique Shopping And Dining Experience..
image hosted on flickr

The huge connecting link of above between 1CR and MGM (previous pic)
image hosted on flickr

Picture showing modular construction more clearly, with pre-fab sections fitted to Block 7 ?
This section should look over the infinity pool at MGM (see MGM section).

[HK Bystander]

Originally Posted by MacauVillager28

Close up of Tower 1 - Building is constructed unusually using pre-fab sections, with windows fitted as building goes up. Tower 1 podium completed, with Tower 1 now at 13th floor.
Pre-fab slabs looks complete, with outer slab looking completed in white. Glass seems to be tinted blue. Looks cool !!

Great pics. Thanks for posting them.
Nice to see good progress on the construction of 1CR-already completed 13 floors. Quess they want to finish the podium the soonest, so the shopping arcade can be ready to be connected with MGM Grand.
As you said, a bit unusual for them to use pre-fab sections in the construction. Is that good or bad???

[shctaw]

Great pictures, Location of 1CR is superior, from a foreigner point of view, this is a Gem in Macau.

Location itself outclass a lot of properties in both HK & Macau.

Fantastic property.

Originally Posted by MacauVillager28

A few other pics...
image hosted on flickr

As mentioned, there is a huge hallway integrating One Central and MGM Grand near lobby. The shop with the model states.. One Central.. A Unique Shopping And Dining Experience..
image hosted on flickr

The huge connecting link of above between 1CR and MGM (previous pic)
image hosted on flickr

Picture showing modular construction more clearly, with pre-fab sections fitted to Block 7 ?
This section should look over the infinity pool at MGM (see MGM section).

[MacauVillager28]

Originally Posted by HK Bystander

Great pics. Thanks for posting them.
Nice to see good progress on the construction of 1CR-already completed 13 floors. Quess they want to finish the podium the soonest, so the shopping arcade can be ready to be connected with MGM Grand.
As you said, a bit unusual for them to use pre-fab sections in the construction. Is that good or bad???

I think there is a lack of shopping in this area, so maybe they want to get this up and running asap (there's a bit more in Wynn now, but still less than 20 retail shops I think). I think they get the luxury brands in Landmark, HK in (using HK Lands connections).
Maybe not surprising they are using pre-fab. Usually, developers do this as it is cheaper (ie work offsite and mass produce identical sections). But I think in this case, it's because of design, as 1CR's shape changes with most floors (HSBC building in HK was 'assembled' using pre-made bits).
I guess this'll make work go a (little) bit faster, and looks 'nicer' during construction as each floor is 'finished'. Spoke to an engineer, reckon another 1.5 years to go before finishing ... It'll be interesting to see when shops will open (when pre-leasing ?).

[FourSeasons]

One reliable source told me that 90% of the shopping units at One Central are already leased; all branded shops.

[FourSeasons]

Originally Posted by MacauVillager28

Spoke to an engineer, reckon another 1.5 years to go before finishing ... It'll be interesting to see when shops will open (when pre-leasing ?).

Notice all the Macau projects are completed later than the original schedule.

[MacauVillager28]

Originally Posted by shctaw

Great pictures, Location of 1CR is superior, from a foreigner point of view, this is a Gem in Macau.

Location itself outclass a lot of properties in both HK & Macau.

Fantastic property.

Shctwa, Tks
As mentioned, feel 1CR is a bit like Sail in SG. Of 3 places I thought would become something special and would like to buy, Sail in SG, Kowloon station in HK, and this...
Unfortunately, missed out on Sail, and Kowloon station/Sorrento in HK has just gone up 50% in 6 months....

[MacauVillager28]

Originally Posted by FourSeasons

One reliable source told me that 90% of the shopping units at One Central are already leased; all branded shops.

You seem to be ahead of the curve again - didn't realise they started leasing !!! You have good sources
Anyway, not surprised if 90% leased - HK Land and Mandarin have so many top brands in their malls/hotels already. Hopefully, like existing properties, these branded shops should be really top end (LV, Cartier, Dior etc).

[FourSeasons]

Originally Posted by MacauVillager28

You have good sources

Another source said Mandarin may launch to sell their time-share hotel or service apartment units next year. Not sure if this is reliable source. If it is, that will set a new benchmark for One Central.

[MacauVillager28]

Originally Posted by FourSeasons

Another source said Mandarin may launch to sell their time-share hotel or service apartment units next year. Not sure if this is reliable source. If it is, that will set a new benchmark for One Central.

Thought MO block was just for hotels ? However, since they have whole block, guess they could have room for some time-shares. This is news to me !

[FourSeasons]

Originally Posted by MacauVillager28

Thought MO block was just for hotels ? However, since they have whole block, guess they could have room for some time-shares. This is news to me !

There are two possibilities: One is that the whole block is divided into hotel and service apartment complex, something like Conrad/Parkside complex in Hong Kong. The service apartment maybe available for sale. The other is just hotel complex with some units for sale on time share basis. I am not sure which option my source meant since he talked so fast and I was not able to clarify it.

[HK Bystander]

Originally Posted by FourSeasons

One reliable source told me that 90% of the shopping units at One Central are already leased; all branded shops.

Not surprised at all. HK Land have all the experience & connections on leasing space to top branded shops. I can just see them putting up their advertising billboard again of " Are you Central? " around 1CR, turning it to be the Landmark, Macau.