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Old October 5th, 2018, 03:07 AM   #61
bazinga88
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Originally Posted by 584C View Post
On the other hand, if given sufficient budget, China factories can churn out world class products such as IPhone.
Thats why Im keeping an eye on these recent SMDC projects. Their crazy pricing must be something and the 6M pesos question is -- Will they deliver?

Tip: Always consider the location first and foremost. SMDC can never shortchange you with location.
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Old October 5th, 2018, 04:33 AM   #62
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Quote:
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Thats why Im keeping an eye on these recent SMDC projects. Their crazy pricing must be something and the 6M pesos question is -- Will they deliver?

Tip: Always consider the location first and foremost. SMDC can never shortchange you with location.


While you keep an eye, I closed one eye and acquired 2 units from SMDC.

Iíve heard horrible stories and honestly, if not for the location, i would never ever think of investing from this developer.
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Old October 5th, 2018, 04:54 AM   #63
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DO NOT make a big mistake of buying an SMDC project.


1. Their materials are SUB-STANDARD. I have 2 SMDC properties bought in MOA complex, in less than a year I have been requesting for warranty repairs on the paint, door hinges, walls, wall cabinets, etc. Their warranty is just ONE YEAR - think about it.

2. Their PMO - Greenmist is notoriously INCOMPETENT, you just have to suck it up even you go directly to their managers. Their incompetent manager will wing your complaints and no actions will be done, have to accept it. Unless you are ready for this kind of stress, then by all means go ahead.

3. You cannot work repairs & have huge deliveries during weekends, no deliveries past 6PM - your only free time from work. this is how idiotic their PMO - GREENMIST thinks. Your mcdo/jollibee deliveries? You will have to fetch them from the lobby.

4. Water leakage is your worst nightmare in a condo property. I have seen a lot of video complaints from the groups of SMDC projects. There are a lot of them.

5. Their Fire Alarms will wake you everyday 7x a week during the middle of the night. I'm not exaggerating. There's nothing you can do coz these are under their PMO. But it is obviously faulty materials.

6. Chinese tenants are flooding SMDC projects, Well... I'll let you imagine what kind of things they will and can do to the whole area.


You have been warned. Think twice. This is coming from a current unit owner & SMDC investor. One of the worst mistake I ever had. Just really had no choice coz I want to invest in MOA complex.
It's quite OK if the substandard are just the materials they used on some outer parts of the building, the worse is, if they use substandard materials on the inner side of the building, let's say the foundation, steels, cement, etc. or other materials that can compromise the integrity of the building as a whole, so prepare for a stronger earth quake.
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Old October 5th, 2018, 05:08 AM   #64
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While you keep an eye, I closed one eye and acquired 2 units from SMDC.

Iíve heard horrible stories and honestly, if not for the location, i would never ever think of investing from this developer.
I have the exact same sentiments.

If there are other current developers inside moa complex, i would greatly consider them.
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Old November 13th, 2018, 06:17 AM   #65
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Recently met up with a property investor from China and below is what he told me (unable to confirm the accuracy).

All of Redís units were sold to a Chinese P2P entrepreneur during launch, average price of ~5.10m for 26sqm 1BR. 40% are perpetual ownership while remaining units are 50 years lease. It seems ~30% bulk sales discount was given to the high average list price of ~265k/sqm.

When the P2P guy ran out of money and defaulted, Chinese brokers round up a group of Chinese investors (who have never been to Philippines) to take over the original contracts. The 10+ investors argued in their 5 star hotel as everyone wants to grab more units.

The next day, they found they were SMDCís spare tyre when they found out that another Chinese broker has found a buyer to take over all of Redís units at ~8m for ~26sqm unit, meaning average price of 300k/sqm!!!

Unable to confirm what he said. But this investor stucks me as a middle aged low profile businessman who behaves gentlemanly and seems pretty credible. Not the loud, flashy, nouveau rich businessmen that China is famous for.
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Old November 27th, 2018, 07:33 AM   #66
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This is a ridiculous price. I think they saw that many Chinese are renting at that area (in Oriental Garden, the Beacon...) so they think it will be easy to have the unit for rent, that's why they put this absurd price up. Most of those Chinese are working for online gambling companies. One day there will be a crackdown on those shady businesses and that area will become a ghost town right afterward lol.

Expect the place will be crowded with Chinese tenants. With 7M, there are more places with higher standard and bigger size that is worth to live. Not to be racist, but I really don't want to live with mainland chinese. You want to know why? Try to live in Oriental Garden on the same street to under stand. Smoking in the building, speaking loudly in public....you name it...
Remember when I said this? I think they are looking into it now

https://newsinfo.inquirer.net/105740...box=1543275143
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Old November 27th, 2018, 11:31 AM   #67
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Remember when I said this? I think they are looking into it now



https://newsinfo.inquirer.net/105740...box=1543275143


The Senate are barking up the wrong tree. Online gaming companies hire Filipinos where possible to save on manpower costs. They only hire China citizens for sales/customer service positions that require in-depth Chinese language skills to communicate with Chinese speaking customers.

Cambodia is very active and friendly in courting these online gaming companies. The companies only stay here because they are already here.
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Old December 11th, 2018, 03:22 AM   #68
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pwede ba bu,ili ang chinese nationals ng condo?
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Old December 28th, 2018, 02:30 AM   #69
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The Senate are barking up the wrong tree. Online gaming companies hire Filipinos where possible to save on manpower costs. They only hire China citizens for sales/customer service positions that require in-depth Chinese language skills to communicate with Chinese speaking customers.

Cambodia is very active and friendly in courting these online gaming companies. The companies only stay here because they are already here.
You should read the article to be able to understand the modus:

"These tourist visa holders (from Mainland China) technically remain tourists even during the three-to-six-month duration of their work assignment in the country.

Thus, their employers need not prove that the jobs cannot otherwise be performed by locals, which is the usual policy for alien workers.

It’s very clear. Chinese nationals have been stealing our jobs, taking away our homes and pilfering opportunities from Filipinos,” Villanueva said.

He called for stringent regulation of foreign workers in the country.

The Senate panel is looking into the proliferation of presumed illegal workers from China, whose numbers have risen around Metro Manila to a degree that do not match official employment numbers from the Department of Labor and Employment (Dole)."


The turn of events allegedly had caused a spike in the prices of real estate properties in some parts of Metro Manila.
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Old December 28th, 2018, 02:32 AM   #70
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pwede ba bu,ili ang chinese nationals ng condo?
Yup. Foreign nationals may own real estate property in the Philippines, but they are not allowed to buy and own land.
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Old December 29th, 2018, 01:15 PM   #71
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Red Residences [29F|res|pro]

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Originally Posted by bazinga88 View Post
You should read the article to be able to understand the modus:

"These tourist visa holders (from Mainland China) technically remain tourists even during the three-to-six-month duration of their work assignment in the country.

Thus, their employers need not prove that the jobs cannot otherwise be performed by locals, which is the usual policy for alien workers.

Itís very clear. Chinese nationals have been stealing our jobs, taking away our homes and pilfering opportunities from Filipinos,Ē Villanueva said.

He called for stringent regulation of foreign workers in the country.

The Senate panel is looking into the proliferation of presumed illegal workers from China, whose numbers have risen around Metro Manila to a degree that do not match official employment numbers from the Department of Labor and Employment (Dole)."


The turn of events allegedly had caused a spike in the prices of real estate properties in some parts of Metro Manila.


The online gaming companies are hiring workers who can type Chinese language on computer to engage with Chinese speaking gambling customers. Not many locals, including Filipino Chinese, are able to communicate well in Chinese language. Even less can type Chinese language.

There are some Chinese who work in other sectors that compete with local workers, such as renovation works and small retail businesses (binondo locations). I think these need more government focus.

China nationals are restricted to buying 40% of units in condo projects. How is 40% demand able to cause a spike in property prices? 40% is smaller than 60%. I think greedy developers is a more likely reason than 40% demand driving up prices.
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Old December 30th, 2018, 04:15 AM   #72
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True dat. Majority of chinoys cannot even converse in mandarin properly much less read and write Chinese characters, edi lalo na mga pinoy. What local jobs are the mainlanders stealing again? These type of rhetoric from certain politicians and local media are meant to divide and conquer courtesy of the CIA
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Old January 2nd, 2019, 02:52 AM   #73
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The online gaming companies are hiring workers who can type Chinese language on computer to engage with Chinese speaking gambling customers. Not many locals, including Filipino Chinese, are able to communicate well in Chinese language. Even less can type Chinese language.

There are some Chinese who work in other sectors that compete with local workers, such as renovation works and small retail businesses (binondo locations). I think these need more government focus.

China nationals are restricted to buying 40% of units in condo projects. How is 40% demand able to cause a spike in property prices? 40% is smaller than 60%. I think greedy developers is a more likely reason than 40% demand driving up prices.

Whether or not the investigation focuses on online gaming operations only is irrelevant. The alleged modus is the rampant employment of Tourist Visa holders which is illegal.

Couldnt agree more, there is definitely greed on the part of the developers. If they can sell out 40% at absurd pricing (ie. translates to 80% at x2 markup, yeabah), they can afford not having able to sell the remaining 60% and just put up for lease. Thats no-brainer business.
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Old January 30th, 2019, 09:32 AM   #74
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as of today...rebars are now sticking out a level above ground.
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