Archive for the ‘Penang Housing Development’ Category

Focus on Penang Bridge-Bayan Lepas coastal area-Penang’s property hotspot – Part I

Wednesday, June 6th, 2007

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.

Focus on Batu Kawan, the new development hotspot in Northern Peninsular Malaysia

Tuesday, May 22nd, 2007

An entourage of RTM crew has recently came to Penang to film a TV documentary on Batu Kawan Parliamentary area and its Member of Parliament MP Huan Cheng Guan. Amongst the places of focus are the site for the proposed Second Penang Bridge and Bandar Cassia in Batu Kawan, Auto City in Juru, Sungai Sembilang Village, Mybatik-a batik production house in Bukit Tengah and a little-known island of Pulau Aman. The half an hour TV programme will be aired through channel RTM 1 on 27th May 2007 (Sunday), Malaysian time 22.00 pm.

Like the much-publicized Iskandar Development Region (IDR) in the southern Peninsular of Malaysia, Batu Kawan Parliamentary area[click here for Location Map], which is situated in the mainland state of Penang and covers part of the two districts of central and southern Seberang Perai (stretching from Perai to Sungai Bakap), has great potential to be the future booming area of the northern Peninsular Malaysia. The construction of the proposed RM2.8 Billion Second Penang Bridge project, a major infrastructure projects initiated by the Federal Government under the Ninth Malaysia Plan (9MP), is expected to generate tremendous economic spillover effects and accelerate the developments of the northern region.

The 2,680 hectare Batu Kawan land bank, formerly an oil palm estate, was acquired by Penang Development Corporation (PDC) in 1990’s and earmarked as Penang’s third satellite township after Bandar Baru Bayan Baru dan Seberang Jaya. The new township known as Bandar Cassia will take about 30 years to complete and has a projected population of 150,000. Crescentia Park, an 186 hectare township which forms part of the Bandar Cassia master plan, is currently being developed by Equine Group. There will be a 16-hectare park with man-made lakes within Crescentia Park. See related links at Equine riding high on Penang Projects and Equine Capital Unit launching houses in Crescentia Park. Besides this, the construction of the Penang International Equestrian Centre (PIEC) to relocate the Penang Turf Club to Batu Kawan is progressing well. More info at Work on equestrian centre in Batu Kawan picks up pace.

In addition, PDC has also launched its RM150 million project; Dedaun, a 127-acre bunglow village within Bandar Cassia offering 8 different country bungalow designs. Other housing developers have also capitalized on this and launched their schemes recently in the vicinity of Batu Kawan are Tambun Indah’s Juru Heights and Airmas Group’s Palm Garden.

Batu Kawan is also famous for its sea food industry. In recent years, many sea food restaurants have mushroomed in the vicinity. Located within Batu Kawan area and close to the proposed Second Penang Bridge is the little known small island of Pulau Aman. A new jetty known as Batu Musang Jetty at Batu Kawan has been built last year to enhance accessibility and further promote Pulau Aman as an eco-tourism destination similar to Pulau Jerejak. More interesting info on Pulau Aman.

Some snapshots on recent visit by RTM crew to Bandar Cassia, Batu Kawan and Pulau Aman….

Mr C H Kwong, General Manager of Abad Naluri Sdn Bhd and the developer of Crescentia Park, briefing MP Huan dan RTM crew on Batu Kawan development plan.

Coincident meet at Pulau Aman between MP Huan and Datuk Zainal Rahim Seman, who was on his last inspection assignment of an infrastructure project in Pulau Aman prior to his appointment as the new Council President of Penang Island Municipal Council (MPPP).

View of Pulau Aman, with potential to be an eco-tourism destination.

Real estate in Penang set to boom

Monday, April 30th, 2007

The dynamics of today’s economy are demanding. In an increasingly borderless world where foreign investments are needed for wealth creation, a premium location is one which is both commerce and entertainment driven.

Featured article by The Star online on penang property outlook and MM2H.

Read more at Real estate in Penang set to boom

Focus on Penang Property and Housing-Part II

Monday, February 12th, 2007

Based on the draft report of Penang Structure Plan 2005-2020, it is noted that much of the housing guidelines focus on providing affordable low cost and low medium cost housing as well as strategies that aim to enhance the quality of housing and living standard of Penang.

The report, however, provides little clues and information on the guidelines and directions for medium to high costs or luxury housing segments. These housing guidelines, inter-alia, include pricing and density on new low cost and low medium cost housing developments according to locational zones ie primary zone (Zone A) and secondary zone (Zone B) for the 5 districts of Penang State. For example, new low cost units to be built within the designated housing zones in the North East District of Penang are subject to price control ranging from RM25,000- RM42,000 per unit depending on location and type of low cost (LC) units (flat or cluster house) whilst for low medium cost (LMC) units, the price range is being fixed at RM40,000 – RM75,000 according to the housing zones as indicated in the Map on Penang State LMC housing zones.

For new housing developments, private housing developers are required by the state government to built 20% Low cost (LC) and 20% Low medium cost (LMC) housing units of the total planned housing units beginning of 2005. Notable LMC housing developments currently under construction on the Penang Island are a) Sri Saujana, a privatized housing project by PLB – Wonder Bay Developments Sdn Bhd comprising 2,304 units at Gat Lebuh Nordin, Georgetown. The sales price is RM75,000 perunit with a floor area of about 646 sq.ft, b) Sri Aman, Relau by Chong Company Berhad with typical 680 sq.ft 3-bedroom unit priced at RM70,000 per unit; c) Puncak Eskine Apartment (total 1,038 units) at Mount Eskine by Aseania Group from RM55,000 perunit with a floor size of 604 sq.ft. For eligible Malaysians, the guidelines on the application for low medium cost housing are available at Penang State Government’s website; www.penang.gov.my.

The draft Penang Structure Plan 2005-2020 also placed emphasis on Public Housing ie housing schemes developed by state government-initiated programs such as Public Housing Program (PPR). It was reported recently that the Penang State government has approved 13 public housing projects. In addition, the Penang state government, through its development agency, Penang Development Corporation (PDC) will continue to built another 1,628 units of low and medium cost houses between 2006 till 2010. PDC have so far successfully completed more than 22,000 housing units since 1970s. More related information on Malaysia’s housing sector under the 9th Malaysia Plan (9MP) for the period 2006- 2010, click here .

For next episodes, InTProperties.com will bring you more insights on Penang’s medium to high end and luxury housing subsectors at upcoming or popular locational hotspots namely Bayan Baru coastal area, Gurney Drive, Tanjung Tokong coastal area etc. As Lunar new year is approaching next week, InTProperties.com would like to take this opportunity to wish all our valued clients and visitors worldwide a “Happy and Prosperous NEW YEAR”.

Penang’s popular locational hotspot; Gurney Drive, is fast becoming an international enclave. The skyline of Gurney Drive ..

New housing developments mushrooming along the newly completed Jelutong coastal highway. The skyline of Jelutong coastal area of Penang..

Focus on Penang Property and Housing-Part I

Wednesday, January 24th, 2007

According to the Draft Penang Structure Plan 2005-2020, the estimated housing stock for Penang State as at year 2005 totals 470,331 units. During the period 1994 – 2005, the Penang state government has approved the construction of about 121,000 units of houses. The report also stated that a total of 185,000 units of houses of various types or at an average of 12,300 units a year will be built until year 2020.

Penang needs to develop 5,000 hectares of land within the next 15 years to cater for development of which 4,500 hectares of the land earmarked for development are located in high potential areas. In order to achieve balance and sustainable development over the next 15 years, there is a need to balance development at the ratio of 30% on the island and 70% on the mainland Seberang Perai.

Penang Island, a relatively small island covering an area of 293 square kilometers with a population of 678, 000 (year 2005), has limited usable lands for development as major part of the Island is under conservation and classified as environmentally sensitive areas ie. hill lands, forest reserves and water catchments areas. The limited usable lands are mainly located along the eastern Island stretching from Tanjong Tokong area to down south Bayan Baru / Sungai Ara area.

Owing to high land cost and limited usable land for development on the Penang Island, reclamation activities at designated coastal areas such as Bayan Baru, Jelutong and Tanjung Tokong will be continued to expand the land bank on the Island. Several man-made islands around Tanjong Tokong and Jelutong coastal areas will also be created via land reclamation. New locational hotspots for potential housing development are situated towards the south-western part of the Island, these areas include Sungai Ara, Gertak Sanggul, Teluk Kumbar and Balik Pulau.

In the mainland Seberang Perai, bulk of usable lands for development are centred at Batu Kawan-Jawi area (South Seberang Perai) and Bertam -Kepala Batas (North Seberang Perai) and Seberang Jaya-Permatang Nibong (Central Seberang Perai). Other potential areas as stated in the report include Valdor, Juru and Bukit Minyak.

The future housing trends on the Island will continue to see more high density flatted developments being built whilst piecemeal housing developments will be taking place in new growth areas at the southern part of the Island. More smaller scale but high value niche housing schemes offering new lifestyles, themes and concepts with buzzwords such as super condos, condovillas, gated and guarded communities, waterfront courtyard terraced homes, super-link houses, landed garden villas, supreme and premium bungalows may emerge in prime locations at the suburbs of Georgetown and coastal areas of Bayan Bay, Gurney Drive and Tanjong Tokong. Old settlement areas in prime locations will also be make way for high rise flatted developments whilst in the inner city of Georgetown but within the ambit of heritage conservation zones, any redevelopment will be subject to heritage preservation guidelines.

The mainland Seberang Perai will see the emergence of large scale integrated township developments ie.Bandar Cassia in Batu Kawan which is planned to be the third largest township after Bandar Bayan Baru on the Island and Bandar Seberang Jaya in Central Seberang Perai as well as transformation of several other townships such as Bandar Bertam, Bandar Perda dan Bandar Tasek Mutiara. Unlike Penang Island, the future housing trend for mainland Seberang Perai will continue to see more landed properties with features of modern township amenities and services and parks (2 and 3 storey terraced and semi-detached houses and bungalows) being built as landed properties are still the preferred choice.

The future housing trends for Penang Island; more high rise flatted developments and high value niche housing schemes..

Focus on Penang Property and Housing – Part II ( To be continued)

Public Hearing on Draft Penang Structure Plan 2005-2020

Saturday, January 13th, 2007

The Penang State Government has unveiled the Draft Penang Structure Plan 2005-2020 in September 2006. The draft plan, which was prepared by Penang State Town and Country Planning Department, is a written blueprint consists of the state’s policy, direction and strategic proposals on development and land use until year 2020. The last Structure Plan for Penang Island and the mainland Seberang Perai was gazetted on 14th June 1990 and 19th September 1993 respectively.

Following the month-long public display of the Draft Penang Structure Plan 2005-2020, a total of 84 respondents have forwarded their views and objections to the Penang State Town and Country Planning Department. The respondents comprises of representatives from government agencies, political parties, NGOs, various resident associations, REHDA, housing developers and individuals etc.

Consequently, in accordance with Section 10 (3)(b), Malaysia’s Town and Country Planning Act 1976 (Act 172), a public hearing has been held at Mutiara Room 2, 29th Floor, KOMTAR during the period from 11th to 22nd December 2006 whereby each respondent was given half an hour time to present their objections and views on the Structure Plan to the public objections hearing committee. The structure plan is expected to be gazetted this year after the draft report together with the feedbacks and objections gathered during the hearing have been submitted to the higher authority for approval.

Respondents expressing their views /objections to the public hearing committee;

Please come back again for more insights on the Penang property and housing development – its future trends and directions and where are the locational hotspots as expounded in the Penang Structure Plan…(To be continued).

Revitalising Penang’s KOMTAR

Thursday, January 4th, 2007

With the launching of Visit Malaysia Year 2007, Penang hopes to attract 3 million tourist arrivals by end of this year. KOMTAR or Menara KOMTAR, which is the landmark of Penang and the famous icon of Georgetown, used to be a major tourist attraction in the 1980’s and 1990’s. However, KOMTAR has lost its shine in recent years due to growing competition from the newer modern shopping centers sprouting on Penang Island. Penang’s retail sector has since undergone 3 stages of changes from early 1980’s up to the new millennium.

KOMTAR needs a major facelift and a more urgent coordinated effort to revitalise the complex’s attractiveness as well as to stay competitive as the premier shopping center of Penang for both locals and tourists.

Related links on KOMTAR ; RM10 million facelift for KOMTAR; Still ‘uncompleted’ after all these years and Sale of shoplots made many millions .

More at update links - Upgrading work on KOMTAR soon and Not too late for Komtar.

Penang is synonymous with KOMTAR & Ferry service… both “converging” landmarks are in need of a major facelift !

Penang & 9th Malaysia Plan

Friday, May 26th, 2006

Following the announcement of the much-awaited 9th Malaysia Plan (9MP), a five-year development plan from 2006 up to 2010 on 31st March 2006, Penang would be allocated for funds amounting RM6.152 billion or 3% of RM200 Billion development fund to built a monorail system, a second bridge and Penang Outer Ring Road (PORR).

Click here Penang links for more web information on Penang and 9MP.