Archive for the ‘Butterworth Properties’ Category

New Condominium Developments in Bukit Mertajam

Sunday, February 22nd, 2015

As we usher the “Goat Year” of Chinese new Year 2015, the Penang Property sector is entering a challenging year amid the impending implementation of Goods and Service Tax on 1/4/2015.

Whilst high rise residential schemes continue to dominate bulk of the on-going developments in Penang Island, one inevitable development trend that is emerging in Central Seberang Perai is the mushrooming of new condominium schemes and the emergence of integrated developments.

Penang Property Skyline

Unlike Penang Island, conventional landed housing schemes of single and double storey terraced houses used to dominate the residential sub-sector of Seberang Perai and the preferred housing types by the mainland Penang purchasers. But this trend is poised to change in the coming years as new housing supply will be coming from high rise condominiums schemes. As land costs for development lands have gone up substantially in the last few years and coupled with depleting land banks available for housing developments, building conventional landed homes at affordable price range are no longer feasible for developers which seek to maximize profits from their projects.

The property sector in central Seberang Perai will see an influx of new condominiums and apartments into the housing market over the next 2-3 years.

Izrin & Tan Properties Sdn Bhd conducted a research on the supply of new high rise housing schemes currently being built, launched as well as planned projects in  Bukit Mertajam Area.  The supply of new condominiums/apartments in Bukit Mertajam Area is estimated to be 5,543 units from a total of 24 housing projects. Below is a table showing the new condominium schemes in Bukit Mertajam Area.

New Condominium supply in Bukit Mertajam

New Condominium supply in Bukit Mertajam

Bukit Mertajam Area Map

Bukit Mertajam Area Map

Some general observations on the trend of new condominium developments in Bukit Mertajam Area:-

a) In terms of area distribution, Bukit Mertajam Town - Jalan Song Ban Kheng  Area  contributes 32% of  the  total units  from 11 schemes,  followed by  Bukit Mertajam  South-Western  Corridor, namely Bukit Tengah -Bukit Minyak - Juru Area  with  27% of the total units from 5 schemes and  Bukit Mertajam western corridor, namely Jalan Permatang Rawa-Jalan Baru area, with 22.3 %  of the total units from 4 schemes.

b) About 58% of the new schemes in Bukit Mertajam Area are single block development with less than 150 units each as developers prefer to opt for exemption of 30% low cost provision for their schemes. Under the state housing rulings, it is mandatory for developers to build 30%  low cost units  for new developments exceeding 150 units. Some of these developers are first time builder venturing into high rise stratified housing schemes.

c) In terms of sales price, the average per square foot generally ranges from RM240 psf up to RM350 psf for unfurnished units. Sales Price for units that comes with renovation package or kitchen cabinet or additional home improvement fittings range from  RM365-RM450 psf.

d) In terms of Floor areas, the unit sizes range from 1,000 sq ft to 1,300 sq ft for a 3 bedroom/2 bath unit. There are also bigger units with floor size of 1,300 sq ft to 1,500 sq ft for 4 bedroom  type.

e)Car Parks- most schemes are offering 2 car parks as one car park is considered to be inadequate.

f)The ratio for the number of residential suites (with commercial title) vis-à-vis residential titled units is projected to increase as developers seek to maximize land usage ie. mixed usage integrated developments instead of residential schemes.

g)Service charges at RM0.15 –RM0.19 psf per month for condominiums whilst the rate for service charges of residential suites is generally higher, at RM0.25 psf per month. For purchasers intending to buy residential suites(with commercial title),  please note that  the rates for assessment, utility such as water, electricity and Indah Water for suites are based on commercial rates and thus higher than the residential-titled condominium units.

As more supply of new condominium units entering the market, there will be increased  competition for housing developers to price their units competitively in order to boost their sales take up and this would provide more choices for discerning buyers to bargain hunt and choose their homes according to their budget requirements, loan eligibility, locational preferences, security and facilities, tenure, building design, floor layout and size etc.

The changing trend and living lifestyle of young working population will propel the demand for gated and guarded stratified housing units in Bukit Mertajam Area. According to the draft local plan prepared by MPSP, the population of Central Seberang Perai in year 2015 is estimated to be 430,100 and it is projected to increase to 467,800 in year 2020.

For enquires on sales and rental of Penang Properties, email to tan at intproperties dot com or call +604-6588333.

The Development of Batu Kawan and its land price trends

Monday, March 3rd, 2014

Batu Kawan is on the national attention following the official opening of the Second Penang Bridge by the Malaysian Prime Minister on 1st March 2014. It is officially known as Tuanku Abdul Halim Mu’adzam Shah have gathered relevant information and researched the chronological events on the development of Batu Kawan to track its past pricing trends of land transactions from the time Batu Kawan Island was acquired to the present time of the completion and opening of Second Penang Bridge.(Map of Second Penang Bridge).



Background Information

Batu Kawan used to be an oil palm estate previously owned by Batu Kawan Berhad (BKB). On 8th February 1991, the Penang state government has gazetted Batu Kawan Estate under section 8 of the land acquisition act 1960.

In 1992, the entire 5,260 acre Batu Kawan was acquired by Penang State Government through the Land Office Administrator of South Seberang Perai District for a sum of RM53,197,974 or RM8,167 per acre awarded as compensation.

BKB filed the case to the Penang High Court and the judge reviewed the land acquisition and increased the award of compensation to RM15,000.00 per acre (RM15,000 X 5,260 acres = RM78,900,000.00) on 9th October 1995.

Not satisfied with the compensation, BKB pursued the matter to the Court of Appeal but was dismissed on 22th Sept 1997.

Subsequently, BKB took the matter up to the Federal Court seeking higher compensation of RM40,000 per acre but was dismissed by Federal Court on 11th September 2001. BKB exhausted all the legal means which took them 9 years and finally settled with the compensation of RM15,000.00 per acre(Analysed to RM0.34 psf). The Federal Court judge held that the revised compensation of RM15,000.00 as at that time in 1992 is the “Adequate compensation” on the premise that the land is an agricultural estate land with remote potentiality for any development.

Past Events and Transactions

In Feb 1996, BKB set up a joint venture vehicle with a 60%-owned joint venture company, Padova Corporation Sdn Bhd (“Padova”), with the Penang Development Corporation (“PDC”) whereby Padova has entered into a Land Purchase Agreement with the PDC.

Under this Agreement, Padova was to purchase from PDC 740 acres of former estate land on Batu Kawan Island for a sum of RM50 million for property development(analysed to RM1.55 psf). The land was part of the Company’s Batu Kawan Estate, which was compulsorily acquired by the State Government in 1992 and a sum of RM40 million has been paid to PDC under the Agreement. However, due to economic downturn, the plans for property development in the area were reviewed while the Land Purchase Agreement has been terminated.

On 9th May 2002, Abad Naluri Sdn Bhd (ANSB) submitted tender for Penang Turf Club’s relocation and sale of Batu Gantung land. ANSB proposed to build a new race-course for the Penang Turf Club at a 250-acre site at Batu Kawan. On 25th November 2002 – Turf Club EGM approved sale of Turf Club land in Batu Gantung and proposed acquisition of Batu Kawan site for relocation of Penang Turf Club.

On 16th Jan 2004 – PDC entered into a Principle agreement to sell several parcels of land in Batu Kawan, totaling 750 acres to ANSB. The development was planned in six different phases, each divided into Parcels 1, 2A, 2B 3A, 3B and 4 respectively of which mixed development projects were planned on Parcels 1, 2A, 2B 3A, and 3B measuring 450 acres in total. The development of Parcel 4 was confined to the development of a Penang International Equesterian Centre (PIEC) measuring approximately 300 acres. The purchase consideration for Parcel 4 was reported as RM46 million (analysed to RM3.52 psf).

On 8th March 2008, The DAP-led Pakatan Rakyat took over the Penang State Government administration.

In September 2008, CM Lim Guan Eng and 52-member delegation went to Korea for its first oversea trade investment mission. After the trip, it was widely reported that an MOU between PDC and Korean Group DK ENC has been signed to build a US$ 100 million (RM350 million)golf course in Batu Kawan. However, the deal fizzled out after a memorandum of understanding (MoU)on the project,signed between PDC and South Korean-based DK ENC Company Ltd lapsed.

batu kawan golf course

batu kawan golf course

In year 2009/2010, land acquisition process began on private lands in the Batu Kawan locality affected by the Second Penang Bridge alignment and road linkages to North South Highway and were awarded compensation at a rate of RM8-10 psf.

On 5th April 2011, CM Lim Guan Eng announced the sale of Batu Kawan Land TO ABAD NALURI SDN BHD(ANSB) after a re-negotiation process with ANSB since 2008 to proceed with the development of the remaining parcels since the S&P Agreements for Parcels 2B, 3A and 3B were yet to be signed. After serious negotiations and discussions between both parties, a decision was finally made and agreed upon by both parties in early 2011.

It was reported that the change in the development of Parcel 4 from the PIEC to the proposed mixed development has benefited PDC by enhancing the value of the land from RM3.05 psf to RM4.77 psf amounting to an increased value of RM22,500,000.00.(Approximately 56% increase in value of the land)- Click here for more info.

On 27th June 2011, CM Lim Guan Eng held a press conference and announced that an industrial park catering for SME with 150 acres will be established at the Batu Kawan Industrial Park(1,600 acres) and 67 acres acres for SMEs opened for sale as backbone for solar and renewable energy industries. The current sales price of SME industrial land in Batu Kawan Industrial Park is priced at RM30 psf.

batu kawan industrial park

batu kawan industrial park

On 23rd August 2011, CM Lim Guan Eng unveiled that PDC has allocated 200 acre site in Batu Kawan for the proposed Mega housing project of which at least 7,300 affordable housing units will be built over a period of 5-7 years at a density of 55 units per-acre.

mega housing at batu kawan

mega housing at batu kawan

On 16th February 2012-Ground breaking ceremony for HDB designed affordable homes was held at Bandar Cassia, Batu Kawan- Video.

On 29th February 2012, a signing ceremony was held between Robert Bosch with PDC for the purchase of a parcel of industrial land for RM58 million. 20% of the purchase price has been paid in December 2011. The land is estimated to be 35.2 or 87 acres(Analysed to RM15.30 psf).

In September 2012, Equine Capital Bhd, the controlling company of ANSB, changed its name to Global Oriental(GOB). GOB still has a remaining 350 acres of leasehold land in Bandar Cassia, Batu Kawan.

On 10th October 2012, Malton Berhad announced that Silver Setup Sdn Bhd (”SSSB”), a wholly-owned subsidiary of Malton, had entered into a Joint Development Agreement (“JDA”) with Batu Kawan Development Sdn Bhd (formerly known as Abad Naluri Sdn Bhd) (”BKDSB”) for the proposed joint development of a piece of land situated at Batu Kawan, Mukim 13, Seberang Perai Selatan, Pulau Pinang (“Land”), measuring approximately 300 acres (“Joint Venture”).

The proposed development under the JDA is expected to comprise mixed commercial and residential development (“Proposed Development”). Based on the preliminary plans, the gross development value of the Proposed Development is estimated to be RM3.8 billion.

The Proposed Development is expected to be carried out and completed in phases over 10 years from the date of issuance of the title of the Land, subject to extension as may be approved by the PDC.

Details of the Joint Venture Entitlements under the Proposed Development :-

BKDSB’s entitlement under the JDA is 18% of the Gross Development Value of the Proposed Development, subject to not less than RM300 million, which represents the minimum return expected by BKDSB from the Joint Venture. Whilst SSSB shall be entitled to the remaining 82% of the Gross Development Value of the Proposed Development. Under the JDA, SSSB is solely responsible to meet the costs of the Proposed Development. Upon signing of the JDA, SSSB has paid a sum of RM20 million as deposit to BKDSB as part of BKDSB’s entitlement under the JDA (“Deposit”).

On 28th March 2013, after slightly more than a year, Media reported that Bosch Solar Energy Malaysia Sdn Bhd has decided to shelve its plan to invest RM2.2 billion in a new mono-crystalline solar cell plant at Batu Kawan Industrial Park although a sales and purchase agreement had been signed between Bosch and PDC in December 2011 for a 35.2ha of land in Batu Kawan to build the plant, citing circumstances did not allow Bosch to proceed with the project.More on Bosch pull out.

In August 2013, PDC called for a request for proposal (RFP) for an international theme park and golf resort (with a minimum 18 holes). The RFP is for the purchase and lease of a total 685 acres of land – 215 acres for the theme park (west of Batu Kawan) and 470 acres for the golf resort (north of Batu Kawan). Both projects are required to be completed within four years from the date of agreement. The entire development must be fully completed in 10 years. No new announcement on the outcome of this RFP yet.

On 12th October 2013, PDC signed a purchase and development agreement for the construction of a premium retail outlet in Bandar Cassia,Batu Kawan. The agreement, signed between PDC and developer PE Land Sdn Bhd, will see the nation’s second premium outlet after the Johor Premium Outlet. The premium outlet, costing about RM200mil, will be built on a plot of 16ha (39.54 acres) land that will also include a 300-room international-class hotel, cafes and food and beverage outlets, a landscaped garden as well as residential units. It was reported that the Payment for the land premium of RM65.34mil would be within three months.(Analysed to RM37.94 psf).

On 10th January 2014 – CM Lim Guan Eng announced IKEA’s Entry Into Batu Kawan with the sale of 245 acres of land for the purpose of development of an integrated shopping mall, anchored by an IKEA store to be developed by Ikano Pte Ltd, and mixed development of offices and residences to be developed jointly by Aspen-Ikano (a joint venture company to be formed by Aspen Vision Land Sdn Bhd and Ikano Pte Ltd).  The 245 acres development in Batu Kawan will include: 30 acres for the development of IKEA Store and phase 1 of the Shopping Mall 45 acres for the development of phase 2 of the Shopping Mall; and 170 acres for mixed development purposes (Remaining Parcels) The total land cost for the project is RM 483,951,600 and payment is to be made within 60 months from the date of Agreement. A RM 5 million non-refundable deposit has also being paid to PDC.

Off all the land dealings in Batu Kawan, this is considered as the landmark transaction of year 2014 which analysed to RM45.34 psf with payment terms of up to 5 years.

The last one year also witnessed several big players joining the bandwagon of acquiring lands in southern Seberang Perai in anticipation of the improved infrastructure networks with enhanced accessibility following the completion of Second Penang Bridge. Several reported land acquisition by established developers are :-

MAH Sing Group Bhd bought about 76.38 acres of freehold land in Jawi, Southern mainland Penang for RM42.59 million It was reported that the land was acquired at RM12.80 psf in December 2013 with payment terms within 18 months.

Another developer , Tambun Indah (TILB) acquired additional 21 acres freehold land at Pearl City of Bandar Tasek Mutiara.This came after the acquisition of a 24.1 acre land parcel also in the township a month earlier.The purchase consideration of MR12.7m translates into a land cost of MR14.00 psf, similar to the earlier transaction. Tambun Indah has an accumulated land bank of about 550 acres of Pearl City of Bandar Tasek Mutiara

IJM Land has also acquired 70 acres of land in Jawi, Southern mainland Penang for RM56 million (Analysed to RM18.50 psf ) in July 2013.

According to RHB Research, EcoWorld also bought about 60 acres of land located at the junction of Jalan Paboi and the old Simpang Ampat federal route, near Simpang Ampat, Southern Seberang Perai at over RM30 psf.

After a span of 22 years, Batu Kawan is poised for higher intensity of development with the recent opening of the Second Penang Bridge. There is no doubt that the construction of RM4.5 Bil Second Penang Bridge since 2008 have accelerated the development of Batu Kawan as evidenced by increased investments and land transactions over the past one year. Improved road networks and accessibility has significant impact on its land usability.Its zoning use from that of pure agricultural land in 1990’s has gradually maturing into lands with potential and suitable for housing and industrial use and likely to scale up to higher economic land usage such as commercial and mixed development township. So as its land prices which have surged significantly in recent years in tandem with the change of land usability, zoning and enhanced accessibility.

For more information and advisory on Penang property matters, please visit our website at or email to tan@intproperties dot com.

Updates :

On 25th March 2014, Property developer Paramount Corp Bhd (PCB) signed an agreement with PDC to purchase 12.14ha ( about 30 acres)  of freehold land in Batu Kawan for a total of RM65.56 million to develop a university metropolis. It was reported the land cost for the 10 acres of land for education use ie. for development of KDU University College is RM40.50 psf whilst the land cost for the remaining 20 acres earmarked for integrated development is RM55.00 psf.

Under the agreement, PCB is required to commence and complete the development of the education component within 5 years whilst the integrated development is targeted for completion within 10 years from the agreement date.

Where to buy a Penang Apartment for less than RM1,000 a month

Monday, October 18th, 2010

The residential subsector for the state of Penang in the second half of 2010 remains vibrant and continue to be the dominant sector in terms of number of transactions of the Penang Property Market. It is inevitable that home prices are on the rising trend in recent quarters brought about by improving economic conditions nationwide and continued bullish outlook of the Malaysian economic performance. It is also a widely known fact that landed house prices such as single and double storey terraced houses, in particular, Penang Island are amongst the highest in the country which have gone beyond the affordable levels of the medium income groups and new home seekers.

However, first time home buyers can still look for affordable Penang Apartments in the secondary market of Penang Island as there are many choices of medium range apartments priced from RM130,000 to RM220,000 per unit.

Incentive for first time home buyers under Budget 2011

Following the recent budget announcement on 15th October 2010, the government will introduce the “Skim Rumah Pertamaku” or “My First Home Scheme” through Cagamas Berhad to assist the newly-employed younger group earning less than RM3,000 per month to buy a house costing less than RM220,000.00.

First time home buyers will be eligible for 100% FINANCING. First-time house buyers will also be given stamp duty exemption of 50 per cent on instruments of transfer on a house price not exceeding RM350,000 as well as stamp duty waiver of up to 50 per cent on loan agreement instruments to finance such first-time purchase of houses. With the exemption in stamp duty, first time home buyers stand to SAVE UP TO RM2,250.00.

Read more :-Full loan for first-time house buyers and Pinjaman rumah 100 % untuk golongan muda.

Perks for first-time house buyers

a)Savings on 50% waiver of stamp duty on transfer instrument:-
House Price say RM220,000.00
1% on first RM100,000.00 – RM1,000.00
2% on balance RM120,000.00 – RM2,400.00
Total RM3,400.00
50% waiver RM 1,700.00

b)Savings on 50% waiver of stamp duty on loan instrument :-
0.5% on full loan say RM220,000.00- RM1,100.00
50% waiver RM 550.00

First time purchaser needs to pay RM2,250.00 only instead of RM4,500.00. Hence, effective savings is RM1,700.00 + RM550.00 = RM2,250.00.

Where to find Penang Apartments ?
Below is our compilation of apartment schemes in selected areas of Penang Island which are within the affordable pricing bracket for first time home seekers where we can help you to locate and own a Penang Apartment at affordable repayments from as low as RM500.00- RM1,000.00 a month. Our company, Izrin & Tan Properties Sdn Bhd is ever ready to assist you to own a Penang Apartment in a hassle-free (no headache to find where to buy), easy and convenience way.

Penang Island Apartment Information
Tanjung Tokong/Tanjung Bungah/Batu Feringgi – Aquarius , Azuria, Bayu Emas, Delima Condo, Ferringhi Delima, Ferringhi Mutiara, Permai Ria, Taman Krsytal, Taman Tegoh
Jelutong – Simphony Park, Mutiara Heights, Mutiara Idaman, Serina Bay, Desa Selatan, Menara Riverview, Taman Jelutong, Taman Cemerlang
Bukit Dumbar – Sinar Bukit Dumbar
Bandar Baru Air Itam – Seri Semarak, Desa Intan, Desa Baiduri, Fortune Court, Sri Impian, Sri Ivory, Sri Krystal, Tanjung Court, Asia Height, BL Garden, Treasure Ville
Padang Tembak - Boundary Court
Paya Terubong – Desa Permata, GL Garden
Perak Road – Casa Impian, Tmn Sri Perak, Tmn Kheng Tian, Kota Emas, Suteramas, Seruan Emas
Gelugor/Bukit Gambier – U Garden, Jade View, Gambier Heights, N-Park, Taman Batu Uban, Villa Sri Kenaga
Bukit Jambul – Taman Bukit Jambul, BJ Court, Desa Daya, Jambul View, Sri Nibong Apt
Batu Lancang/Greenlane – Mewah Court, Desa Green, Kota Emas, Desa Penaga, Eastern Court, Greenlane Heights, Medan Penaga, Taman Sri Damai
Georgetown –Taman Pelangi, Macallum St Ghaut flat, Sri Kota, Medan Samak, Desa Singora
Relau/Sungai Ara – Marina Tower, Taman Desa Relau, Acres Villa, Ara Mas, Desa Alor Vista, Desa Bayan, Relau Vista, Sri Abadi, Sunshine Garden, Villa Kejora, Vista Condo
Sungai Dua- Taman Pekaka, Taman Jubilee, Nipah Emas, Taman Lip Sin
Sungai Nibong/ Bayan Baru – Century Park, Desa Bistari, Gedung Hts, Halaman Cendana, Mahsuri Apartments, Nibong Indah, Taman Jubilee
Bayan Lepas – Saujana Damai, Bayan Permai

Mainland Penang- Seberang Perai Apartment Information
Butterworth – Park View, SeaView (studio unit), Pangsapuri Cantik, Pangsapuri Ria, Vista Perdana, Pantai Apartments, Pangsapuri Sena
Bagan Lallang/ Raja Uda area- Seri Cemerlang, Taman Mesra Indah, Taman Pandan, Pangsapuri Mawar, Pangsapuri Seri Mekar
Bukit Mertajam- Kondo Mutiara, Pangsapuri Seri Pelangi
Prai–Pangsapuri Aman(Prima Prai), Pangsapuri Pesona

Contact us now at +604-6588333 or SMS to 0124072329 to find out how we can assist you to own an affordable Penang Apartment for less than RM1,000.00 a month.

Acres Villa in Sungai Ara, Penang

Asia Height Apartments in Air Item

N-Park in Batu Uban

Jade View Apartments in Gelugor

Park View Tower @Harbour Place in Butterworth

Cassia Resort Condo@ Raja Uda, Butterworth

Fire Sale of two commercial buildings in Penang

Wednesday, July 7th, 2010

Property investors now have the opportunity to acquire assets at fire sale prices from Danaharta. There are two striking landmark commercial buildings located in the heart of Bukit Mertajam town in Central Province Wellesley of Penang being put up for sale again at fire sale prices by Prokhas in its 2nd tender exercise starting from 5th July to 4th August 2010.

Brief info on Plaza Utama

Brief info on City Parade

These two assets are possibly the last tranche of residual recovery asset of Danaharta. conducted a research on the background of these two assets and its indicative values ..


Plaza Utama development commenced in Nov 1995 and completed in 1997. The 5-storey departmental store of Plaza Utama was opened for business in early 1997 together with many other smaller retail lots (sold to individual buyers). The Hotel block of Plaza Utama commenced business on January 23, 2008 and the development value of the entire Plaza Utama is RM230 Million according to an article published by The Sun as follows:-

Owing to the onslaught of the 1997-1998 financial crisis, Plaza Utama ceased business operation after a short stint of about 1-2 years and subsequently, the bad loan of Plaza Utama was acquired by Danaharta. More related info at my earlier blog - Impacts of Global Financial Crisis vis-a-vis Asian Financial Crisis on Penang property sector.

This completed skyscraper formed by a nine-level retail podium and 14-level office cum hotel tower capped off by a helipad sits on 2.88 acres of freehold land. Within Plaza Utama are 661 car-parking bays; 286,000sq ft of retail space made up of 23 shoplots, three areas previously designated for supermarket use and three whole floors; 112,500sq ft of office space consisting of 19 suites and nine whole floors; and 188 business-class hotel rooms at the top-most floors of the tower.

It was reported that when Plaza Utama first put up for sale in year 2000, the indicative value was more than RM50 Million. In year 2004, its indicative value was revised to RM42.1 Million. There is no taker despite being put up for sale in the market (By Danaharta until 31/12/2005) and Prokhas for a period of about 10 years. And to-date, Prokhas Sdn Bhd, in its quest to dispose off the asset, has make substantial hair cut and fixed the minimum price at only RM15,913,800.00.( Analysed to RM39.90 per square foot).


City Parade is another completed commercial building which is similarly affected by the 1997-1998 financial crisis and ceased operation after opened for business for a short period and have remain vacant until the present time. It has a total of 135 retail lots with a combined floor area of 224,773 sq ft.

The reported indicative value of City Parade was RM28.3 Million in Danaharta’s 5th Property Tender document from 5th June 2001 till 4th July 2001. In 2003, the indicative value was revised to RM19.546 Million as per Danaharta’s 8th Property Tender Advertisement below.

Similarly, there is no taker despite being put up for sale in the market for more than a decade. And to-date, Prokhas has also make substantial hair cut and fixed a minimum price at RM5,488,100.00.( Analysed to RM24.40 per square foot).

With such attractive fire sale prices at deep discount from its indicative values, it is now opportunity at the right entry level for investors to explore the investment viability as well as its restoration or refurbishing costs of turnaround it into viable and usable building.  Act now and contact us at Izrin & Tan Properties Sdn Bhd ( A panel real estate agent of Prokhas Sdn Bhd) for further information and FREE investment advisory and factors that investors should look into before making investment decisions. Email me at, or SMS/CALL  +6012 4285453.

UPDATE (4/9/2010) - According to the tender results and information provided by Prokhas, Plaza UTAMA has been SOLD …

UPDATE (19/10/2010) - City Parade is currently put up for sale again by public auction scheduled on 26th October 2010. The reserve price is further revised to RM4,939,000.00 (RM22 per square foot) compared to last reserve price’s at RM5,488,100.00.( RM24.40 per square foot).

Mainland Penang’s new growth corridor

Wednesday, September 24th, 2008

The recent opening of the Jusco Seberang Perai City in Bandar Perda, Seberang Perai adds the latest foray of a new shopping mall to the highly competitive retail sector in Penang. The RM450 million Jusco Seberang Perai City, boasts a total floor area of 2.28 million square feet built on a 19 acre site with more than 3,000 car parks, is the 2nd Penang outlet by AEON after the successful opening of its first Penang outlet at Queensbay Mall in December 2006.

Jusco Seberang Perai City at Bandar Perda

Jusco Seberang Perai City at Bandar Perda

A growing hotspot in central Seberang Perai

The development gravity is gradually shifting from Butterworth-Perai area towards Jalan Baru-Bukit Tengah-Bukit Mertajam as more lands are make available and earmarked for new housing developments including the partially developed mixed development project of 456-acre Bandar Perda township. Several government bodies such as Local government headoffice of MPSP, District Police headoffice, Bomba and Inland Revenue Department have already relocated to Bandar Perda. Central Seberang Perai is poised to be the upcoming conurbation of mainland Penang.

According to the Property Market Report 2007, Central Seberang Perai (Daerah Seberang Perai Tengah) has the most numbers of newly launched housing units totalling 605 compared to 544 units of North Seberang Perai(Daerah Seberang Perai Utara), indicating that more housing developments are taking place in central Seberang Perai.

Property Market Report 2007 on Butterworth properties

Property Market Report 2007 on Butterworth properties

Notable upcoming residential schemes being launched within the Jalan Baru-Bukit Tengah- Bukit Mertajam growth corridor area include Uda Land’s Taman Pauh Jaya along Jalan Baru, Taman Aman By PPH Group and AMDB Berhad’s Bayu Mutiara in Bukit Tengah area, Parklane Residence and Aston Villa, a RM88 million mixed development project by Ivory Properties Group.

In recent years, selling prices of newly launched housing units in this growing hotspot area of Central Seberang Perai have noticeably fast catching up and match the pricing levels of those similar houses in more established locations of Butterworth- Mak Mandin-Raja Uda area.

Market Prices for conventional double-storey terraced houses in the secondary market for established housing schemes in the vicinity of Bukit Mertajam – Bukit Tengah area namely Taman Gemilang Ria, Taman Jambu Madu, Bayu Mutiara, Desa Palma, Taman Jernih, Saujana Permai, Bandar Perda have crossed to a new price benchmark level of RM250,000.00 to RM300,000.00. However, if you are looking for similar double-storey terraced houses costing below RM200,000.00 per unit, you still have the choice whereby these houses are located in the secondary locations of Bukit Mertajam namely Alma, Juru, Macang Bubuk and Permatang Tinggi area.

Market rental ranges from RM700 to RM1,000 permonth (unfurnished) for a standard 2-storey terraced house in choice locations in central Seberang Perai and those located in secondary locations, the rental rates are in the range of RM500 to RM650 permonth.

The latest trend in the market is that more higher end luxury terraced houses are being launched, these new 2.5 storey to 3 storey terraced houses comes with bigger built up area and better design and services are being priced at new ceiling prices of RM300,000.00 to RM420,000 per unit. Similarly, more higher end with luxury design 2-3 storey semi-detached houses and bungalow are being released to the market with new record pricing ranges from RM600,000.00 to RM1.2 million per unit.

For advisory on individual property investments, purchases and rentals of Penang Properties, email to us at Izrin & Tan Properties Sdn. Bhd. or call us at +604 6588333 (Penang Office) or +603 92839782 (Kuala Lumpur Office) and we would be pleased to assist.

butterworth properties -BORR Jln Baru aerial view

butterworth properties -BORR Jln Baru aerial view

butterworth properties BORR-jln baru map

butterworth properties BORR-jln baru map

The new MPSP office building at Bandar Perda

The new MPSP office building at Bandar Perda

The new private hospital at Bandar Perda

The new private hospital at Bandar Perda

newly completed double storey houses in Taman Jambu Madu

newly completed double storey houses in Taman Jambu Madu

newly completed houses in Bayu Mutiara
Newly completed 2-storey houses at Bayu Mutiara, Bukit Tengah

2 and a half storey semi-detached house at Taman Kristal, Bukit Tengah
Newly completed 2.5 storey semi-detached house at Taman Kristal, Bukit Tengah

The new conurbation area in Central mainland Penang

Monday, December 24th, 2007

Central mainland Penang (Central Seberang Perai District), with almost 45% of the total mainland Penang population of 775,000 and the center of the largest industrial hub in the northern region of Peninsular Malaysia, is poised to be the greater conurbation area of mainland Penang.

In early 1970s, the Penang State Government began to pursue industrialization programs. The state through its development agency, Penang Development Corporation (PDC) earmarked large track of land in Prai and developed it over the years into the largest industrial corridor of the northern region comprises three industrial parks ie Prai Industrial Park, Bukit Tengah Industrial Park and newly developed Bukit Minyak Industrial Park. The entire industrial hub stretches from Prai to Bukit Tengah-Bukit Minyak-Juru areas. It has since become the main centre of workplace providing thousands of employments for the residents in mainland Penang. Owing to rapid pace of industrialization over the past three decades, demand for housing units surged which led to many housing units being built nearby the existing industrial areas namely Taman Nagasari, Taman Perai Indah, Taman Pelangi, Taman Bukit Minyak, Taman Sentul, Taman Sejati and Sungai Rambai residential area etc. Developments accelerated after the completion of the North-South Highway with many property schemes mushroomed along the corridor areas of the North-South Highway and Bukit Tengah federal route. Juru Auto City is one such landmark development which has successfully transformed Juru area into a thriving business, entertainment and tourism district.

Juru Auto City and its surrounding developments

The 14.4 ha Auto City is a one-stop auto and food center with more than 20 automobile showrooms and 50 food and beverage outlets, banks and is also the premier entertainment venue for many live artist performances and motor sport shows. All the outlets and shops are fully occupied. In addition, it has been endorsed by Penang state Government and Ministry of Tourism Malaysia as one of the tourism districts in mainland Penang. Auto City, with the support of Penang State Government and Ministry of Tourism Malaysia, has successfully hosted the recent Penang International Lantern Festival 2007 in conjunction with Visit Malaysia Year 2007 from 15/9/2007 till 31/12/2007. More info at Dazzling lantern show in Juru and Grand Christmas lantern display. If you have not visited this Lantern Festival, here are the spectacular hello kitty lantern shows.

More info at update link Auto City to venture into tourism with RM120m investment.

Also located nearby Auto City are the newly completed 46-room Goldern Nasmir hotel ,Taman Pelangi and 2-storey highway complex - Juru AutoWorld. In addition, there is also a proposal to built a theme park near Juru Auto City. More info about Penang Theme Park.

According to Penang State assemblyman for Bukit Tengah area YB Ng Siew Lai, several more tourism projects will be implemented in Juru area namely homestay programmes and turning Juru into a multi-cultural center to attract more tourists to mainland Penang.

New and ongoing housing schemes

The successful transformation of Auto City has indeed turning its vicinity areas into a new property hotbed and spurred many housing developers to follow suit over the last two years. Notable schemes scheduled for completion in the 4th quarter of 2007 are Bayu Mutiara comprising shopoffices and double storey terraced houses, TPPT’s Desa Titi Panjang, Taman Delima Jati, Bukit Minyak Business Centre comprising a 150,000 sq ft superstore – Krico and 2-storey shops, DNP Land’s Sentinnel Watch in Taman Bukit Minyak Indah, Taman Kristal, Taman Seri Delima. Other newly completed housing schemes include Taman Cendena, Villa Cendana, Taman Seri Juru and Taman Juru Indah whilst ongoing housing developments in the vicinity includes gated community schemes of Juru Heights, Asiamas’s Palm Garden and Wing Tai’s BM Utama(Mirale Boulevard) along Jalan Bukit minyak, Tawakar’s Taman Bukit Minyak exclusive bungalows, Taman Tanah Aman by PPB Hartabina and Twin Villas of Taman Desa Juru by Emico Properties. Like other new housing schemes in established areas of Butterworth, Seberang Jaya and Bukit Mertajam, more new trendy houses in gated community schemes are being launched and built with prices of new houses are noticeably fast catching up as well.

Market Price and Rental

The market price for standard double-storey terraced houses in Bukit Minyak /Juru area ranges from RM180,000.00 to RM220,000.00 per unit whilst monthly rental rate ranges from RM550.00 to RM700.00. Prices for newer completed 2-storey houses with bigger built up area of 1,800 sq ft are going for RM235,000.00 onwards whilst the sales prices for double-storey semi-detached houses ranges from RM300,000.00 to RM380,000.00 perunit. The luxury 3-storey semi-detached houses with bigger built-up area in gated community schemes in Bukit Tengah area are priced at RM588,000.00 to RM700,000.00 per unit.

For advisory on individual property needs in central mainland Penang, email to us at Izrin &Tan Properties Sdn. Bhd. or call us at +604 6588333 (Penang Office) or +603 92839782 (Kuala Lumpur Office) and we would be pleased to assist.

Map of Central mainland Penang (Seberang Perai Tengah)

From left; Mrs Gary, Director-General of Tourism Malaysia Datuk Mirza Mohammad Taiyab, Bukit Tengah state assemblyman YB Ng Siew Lai, director CL Tan, Auto City Managing Director Gary Teoh and Lantern in Motion Managing Director Colonel Lim at a cafe in Auto city after their visit to the Penang International Lantern Festival.

Front view of Phase 3 Juru Autocity

Food outlets and shops at Auto City

Some latest snapshots of the newly completed housing schemes in the vicinity of Juru Auto City area ;

Double –storey terraced houses at Bayu Mutiara

3-storey luxury semi-detached homes at Taman Kristal Bukit Tengah

Double-storey terraced houses at Taman Juru Indah

Butterworth new growth corridor along BORR

Monday, December 3rd, 2007
With the opening of the RM700million Butterworth’s highway, Butterworth Outer Ring Road (BORR) and improved highways connectivity from North-South Highway to Penang Port and Butterworth Ferry terminal brough about by this newly completed BORR, the corridor areas along the 19km ring road stretching from Butterworth Ferry Terminal to Bagan Agam-Sungai Puyu-Sungai Dua Interchange area (north stretch) and Butterworth-Perai-Jalan Baru area (south stretch) have become one of the mainland Penang’s property hotspots as increasing numbers of housing schemes were either being revived or launched in recent months.

In addition, major infrastructure developments earmarked along the BORR corridor area as recently announced under the NCER initiatives, when kick off as planned without delay, will further accelerate the economic development of Butterworth area. These major projects are :-

Penang Sentral

Redevelopment of Butterworth Bus Terminal - a new RM100Mil bus terminal which forms part of the proposed Penang Sentral will be built near the Butterworth Ferry Terminal to replace the old bus terminal which was destroyed by fire six years ago. However, this redevelopment will only be able to take off when outstanding title issues are resolved.

The RM2bil Penang Sentral is a key component of the NCER initiatives and will be the Butterworth’s transportation hub, comprises an integrated terminal for rail, road and sea travel. More related info on Penang Sentral at here and here.

Expansion of North Butterworth Container Terminal (NBCT)

The NBCT will be further expanded when Penang Port reclaims 405 hectares along the Butterworth coastline. The expansion would cost RM3.2 billion and to be carried out over 10 years . More at Penang Port set to see its glorious trading days and Penang Port to handle more cargo.

One recommended resource paper by SERI, The Think Tank for the State of Penang, posted on its website provides good insights on NCER initiatives-Penang as an integrated logistics and transportation hub under northern corridor economic region.

Butterworth Property Sector

Butterworth town, once a thriving business and commercial center from 1970’s to early 1990’s, however, experienced declining business activities after several major government institutions ie district office, hospital and the administrative office of MPSP relocated to Bertam, Seberang Jaya dan Bandar Perda in Bukit Mertajam respectively. This has affected the occupancy and prices and rentals of commercial shopoffices particularly along Jalan Bagan Luar. Interest on new shopoffices has also shifted to Bandar Seberang Jaya and Jalan Raja Uda area noticeably Woolley Avenue by Ipoh-based developer Woolley Development Sdn Bhd where new 3-storey shopoffices being sprung up and has become a new vibrant commercial area. Monthly rentals for ground floor shopoffice ranges from RM2,000 onwards.

Unlike the commercial sub-sector, the Butterworth residential sector continues to be on healthy growth in tandem with the buoyant economic expansion. In recent months, more new housing schemes have been launched, notably Sunrise Villa, Palm Villas–3 storey courtyard villas, Amanbayu gated project - Resort lifestyle by the sea, Taman Jawa By IJM Properties, Cassia Condominium by Island Lanscape and Delink @ Taman Segar by Oriental Max Group. It is noted that some of these new launched schemes are either higher end condominium units or 3-storey landed homes with bigger floor area that comes with better design, finishes and facilities in a gated community environment.

Whislt notable housing schemes under construction are Sea view Tower, Vista Bay, Airmas’s Taman Senangan at Teluk Air Tawar, Centroview Apartments and Taman Cemerlang etc.

Some of the existing high rise flatted housing developments located along BORR corridor area include Park View @ Harbour Place, Pangasuri Ria, Pangsapuri Arked, Pantai Apartments, Vistana Perdana, Affina Bay etc. The Butterworth property sector also saw the entry of the newly completed Citrine Tower (Block D Pangsapuri) by Thong Sin’s Group comprises 3-bedroom apartment with a floor area 1,000 sq ft. Prices from RM141,800 onwards. Rental rates for 3- bedroom apartments in Butterworth with floor area of about 800 - 1,000 sq ft ranges from RM650 to RM1,000 per month.

Several vacant development lands along the BORR area are currently available for sale. Sales price from RM60 to RM150 per square foot.

The real estate landscape of Butterworth area and its vicinity along BORR may set for change following the government decision to implement several major infrastructure projects in Butterworth hub under the NCER initiatives, the move will likely to spur more real estate projects being developed in new growth areas in the vicinity of BORR corridor area namely Prai Perdana township, Bagan Ajam, Bagan Jermal, Sungai Dua, Raja Uda, Bagan Lalang and Teluk Air Tawar area.
For advisory on lands or property investments in Butterworth area, email to us at Izrin &Tan Properties Sdn. Bhd. or call us at +604 6588333 (Penang Office) or +603 92839782 (Kuala Lumpur Office) and we would be pleased to assist.

Map of Butterworth and BORR

Aerial View of BORR connecting to Jalan Baru

General view of Butterworth developments along BORR

Overview of the North Butterworth Container Terminal (NBCT)

SeaView Tower and Park View Tower at Harbour Place, Butterworth

View of Vista Perdana Apartments

Affina Bay Condominium along BORR