Focus on Penang Bridge-Bayan Lepas coastal area-Penang’s property hotspot – Part I
Penang Island’s south-eastern coastal area, stretching from Gelugor–Batu Uban-Sungai Nibong-Bayan Lepas area, is poised to be one of the Penang’s property hotspots. This strategic coastal area, supported by a good network of coastal highways ie. Jelutong Expressway and Bayan Lepas coastal highway as well as good accessibility to the mainland Penang via Penang Bridge and close proximity to the island’s main industrial hub of Bayan Lepas and Penang Cyber City, is gradually transformed into a vibrant business and affluent residential enclave.
In recent years, the Penang property sector has witnessed the successful completion of several developments along the south-eastern coastal area and the opening of Queensbay Mall, E-gate and Tesco hypermarket whilst new developments are being launched and built. Notable development schemes located along this sea-front reclaimed area are 73-acre Queensbay, 155-acre Bayan Mutiara and Techware’s four condominium schemes at Sungai Nibong (click here for location map). When both Queensbay and Bayan Mutiara developments are fully completed, this south-eastern enclave would also become Penang’s new waterfront resort precinct like Singapore’s Sentosa Cove.
Queensbay – A 73 acre mixed development project, formerly known as Bayan Bay, was revived by developer CP Group. This mixed development comprises existing commercial 3-storey shopofffices and Queensbay Mall, the largest shopping mall on the island with a built up area of 2.5 million sq ft and more than 1 million sq ft net lettable area of which about 255,000 sq ft is occupied by anchor tenant, Japanese-owned Jusco Store. Other ongoing and planned projects within Queensbay Master development plan include BayCapita, Baystar, Baygarden, Bayvillas, a 380 room three star hotel and a five star hotel. More update info as at 5.1.2008 on Queensbay Lure .
Bayan Mutiara – Penang Development Corporation (PDC)’s flagship mixed development project. D’Residence, sited on 96 acres reclaimed land and forming part of Bayan Mutiara master development plan, is the first upmarket housing project by PDC Properties in Penang. Phase one of D’Residence was launched last year comprises 113 units (70 units of superlinked houses, 14 units of twin bunglows, 15 units of supreme bunglows and 14 premium bunglows) at selling prices ranging from RM880,000 up to RM2.8mil.
Two newly completed condominiums scheduled to make entry into Penang’s luxury condominiums this year are Bayswater Condominium and Putera Marina Resort.
Bayswater Condominiums – a new freehold luxury sea-facing condominium project developed by IJM Properties and located adjacent to E-gate and Tesco hypermarket. It comprises 2 blocks of 26 storey condominiums with floor areas ranging from 1,173 sq ft to 1,636 sq ft each. The developer’s selling price ranges from RM321,000 to RM435,000 per unit. Whilst Putra Marine Resort is the latest condominium block developed by Techware and has a total of 126 sea-facing units. Each unit has a floor area of 2,027 sq ft to 2,723 sq ft priced at RM275.00 per square foot onwards.
Other existing condominiums located along this enclave include The View Condominiums, Putera Place, Gold Coast Condominiums, Sunny Ville, E Park and Villa Emas. Other medium range apartments include Bukit Dumbar Indah.
The View – a newly completed super twin tower condominiums with a skybridge developed by Penang-based developer, Ivory Sdn Bhd. The units are sea-facing and overlooking the Penang Bridge and has a built-up areas of 2,068 sq.ft for a typical unit that come with 5 +1 bedroom and 4 baths and 5,580 sq.ft for a penthouse unit. Prices ranging from RM633,000 to RM1.62 Million. Related link on The View Twin towers.
Gold Coast Condominiums- This resort condominium, completed in 1999, is sited on 11 acres of leasehold residential land, comprises 3 condominium blocks with a total 412 sea-frontage units. The floor area of the units ranges from 1,042 sq ft, 1600 sq ft up to 4,290 sq.ft. The market price ranges from RM300,000 to RM340,000 for a standard 3 bedroom condominium unit and RM450,000 to RM500,000 per unit for a bigger size units of 1,600 sq ft. Monthly rental rates from RM2,500 to RM3,000 per month.
Putra Place condominium is another condominium scheme by Techware with total units of 626 and completed in mid 2006. Each typical unit has a floor area of 1,000 sq ft whilst duplex and penthouse unit have floor areas of 1,872 sq ft and 2,000 sq ft respectively.
Villa Emas is the first scheme developed by Techware and completed in 1998. It is sited on over 10 acres of leasehold residential land and comprises 3 blocks of 16 storey condominiums with a total of 488 units. Each standard unit has a floor size of 850 sq ft to 950 sq.ft. Located alongside with the Bayan Lepas coastal highway, the scheme is popular amongst Penangites and recorded high occupancy rate. Individual strata titles has been issued. The market prices for a standard unit ranges from RM180,000 to RM240,000 depending on the condition / improvement of the unit whilst monthly rental ranges from RM750 for vacant unfurnished unit up to RM1,500 for furnished units.
Sunny Ville– An integrated resort condominium completed in 1994, comprises a total of 6 blocks of 22 storey in height with more than 500 units. Each typical unit has a floor area of 900 to 1,090 sq ft. Market price for a standard 3 bedrooms type ranges from RM220,000 to RM230,000 per unit whilst monthly rental rate for furnished unit ranges from RM1,000 to RM1,500.00.
E Park – completed in 1996 and located adjacent to Sunny Ville. It comprises 3 blocks with 350 standard units of 800 sq ft and 7 penthouses of 1,600 sq ft.
Lavinia Apartments – completed in 1994 and comprises 5 condominium blocks with a total 236 units with sea-view. Standard floor area ranges from 980 to 1,140 sq ft.
There are growing interest by foreign purchases and increasing numbers of expatriate communities residing in some of these sea-facing resort condominiums. For more information on property investments and advisory on your property needs and expatriate accommodation in Penang and Kuala Lumpur, email to us or call us at +604 6588333 (Penang) or +603 92839782 (KL), we would be pleased to assist.
Located close to Queensbay and a short distance away is Pulau Jerejak, an island that has vast potential to be an eco-tourism destination. Presently, only a small part of the island is being leased to Jerejak Resort whilst major part of the island has recently been gazetted by Penang state government as forest state park. There are plans to built a cable car connecting Queensbay mall to Pulau Jerejak and a theme park.
Intproperties.com has blogged and found that there are two websites that offer lots of photos and information on Pulau Jerejak, here and here.
View of Bayswater Condominiums, located near to E-gate and Tesco hypermarket.
The View twin towers condominiums as seen from Penang Bridge.
View of the Sunny Ville and E Park as seen from Penang Bridge. Sited on the coastal front is the Penang’s new marine police complex cum quarters.
Tags: Penang Apartments & Condominiums, Penang Gold Coast, Penang Property investment