Posts Tagged ‘Penang tourism belt’

Investing in Penang’s tourism belt; Tanjung Tokong-Tanjung Bungah-Batu Ferringhi coastal area

Thursday, October 4th, 2007

Penang’s tourism belt [area indicated colored red], an international famous holiday resort area stretching along the 9 km northern coastal area from Tanjung Tokong to Tanjung Bungah to Batu Feringghi area, is poised for rapid transformation with at least more than half a dozen of ongoing resort condominium/sea front villa developments in various stages of construction. Several more planned housing developments are also in the pipeline and scheduled for launching next year. In recent months, this area has increasingly become Penang’s property hotspot amongst the local Malaysians as well as foreign investors who choose Penang as their second homes under MM2H programme.

Penang Beach Hotels
This stretch of popular tourism belt is also the main concentration of Penang’s beach hotels namely Naza Hotel, Tanjung Bungah Hotel, Copthorne Orchid Hotel, Paradise Sandy Beach Resort, Crown Jewel Hotel, Hydro Majestic Hotel (formerly Ferringhi Beach Hotel), Rasa Sayang Resort and Spa, Golden Sand Resort, Lone Pine Hotel, Holiday Inn Resort, Grand Plaza Parkroyal, Casuarina Beach Hotel and Bayview Beach Hotel. Majority of these beach hotels are located in Batu Ferringhi area. See picture below for location guide of these hotels;

Penang’s existing hotel room supply stands at about 12,000 rooms with bulk of these hotel rooms located within this tourism belt. An estimated new supply of between 3,500 and 4,000 hotel rooms will be coming on stream within the next five years to accommodate more tourists and those responding to the Malaysia My Second Home Programme (MM2H). More at related link - Three more hotels to meet growing demand in Penang.

Existing sea facing condominiums along Penang tourism belt
Notable existing sea facing resort condominiums, with selling price ranges from RM160,000 to RM2 million perunit and located along this stretch of tourism belt are :-

Eden Seaview Apartments, located in Batu Feringghi and sited next to Uplands international school. A standard 3-bedroom unit with a floor area of 850 sq ft is priced from RM160,000.

Mar Vista, comprises 6 high rise blocks of 2,3,4 bedrooms, is located in Batu Ferringhi. A standard 2 bedroom unit with floor area of 838 sq ft is for sale at RM180,000.

Diamond Villa, completed in 1994 to 1998, comprises 3 blocks of 18 to 26 storey in height with seaview and floor areas of 1,480 sq ft onwards. Rental from RM3,500 per month. A penthouse unit with a floor area of 6,000 sq ft is for sale at RM1.5 Million.

Miami Green, another sea facing condominium with standard size of 1,100 sq ft to 1,270 sq ft. Selling price ranges from RM350,000 per unit.

Twin Towers, a standard unit with a floor area of 1,325 sq ft currently for sale at RM340,000.

Coastal towers- Rental rates from RM1,200 per month for unfurnished units. A renovated and fully furnished unit on high level with seaview and has a floor area of 1,210 sq ft is for sale at RM380,000.

Straits Regency – A standard unit of 1,530 sq ft is for sale from RM380,000 onwards while rental rate is RM2,500 per month for furnished unit.

Tanjung Bungah Beach condominiums- Rental rate for fully furnished unit with floor area of 2,200 sq ft ranges from RM6,000 per month whilst a deluxe penthouse unit with floor area of 4,478 sq ft is for sale at RM1.7 Million.

Sri Golden Bay Condominiums. Each standard unit has a floor area of 2,875 sq ft with selling price ranges from RM1.4mil onwards.

The Cove or [Video] - A newly completed super condominium comprises four blocks of 40-storey freehold luxury condominiums– Each unit has a floor area of 5,850 sq ft with five bedroom and large balcony facing the sea ! Sales Price from RM1.4 mil to RM2 mil.

New condominium schemes along Penang tourism belt
Notable new resort condominium schemes currently under construction are The waterfront condominiums, Shamrock Beach development comprises 3-storey landed seafront link houses and villas, Alila, a high end condominiums and villa project comprises 418-unit by Hunza Group and IGB’s project comprises 37 units of 3-storey bungalows located adjacent to Mar Vista.

Springtide Residences, a 39-storey condominium project with only 74 units of high end sea front condominiums and three beach villas located in Tanjung Bungah. The units, measuring 3,989 sq ft and 5,078 sq ft, are priced at RM430 per sq ft.

Infinity sea front super condominiums located along Tanjung Bungah comprises 2 36-storey blocks , typical floor area range from 3,669 to 4,873 sq ft and priced from RM1.5mil each.

Moonlight Bay villas, an on-going luxurious lifestyle project by Penang-based developer, Ivory Properties Group, comprising 70 four-storey detached villas priced between RM1.8 mil to RM3 mil offering sea and hill views. All units come with lifts and condominium facilities. Land area range from 2,600 to 6,000 sq ft whilst built-up areas range of 3,800 to 5,500 sq ft. More info at related link- Ivory’s four storey villas with lifts.

Skyhome – another ongoing high end condominium project by Giant Resorts comprises one block of 32-storey beach front super condominiums 47 units. Each standard unit has a floor area of 6,300 sq ft priced from RM2.2mil onwards.

The Residences @ Feringghi Park - An ongoing housing scheme at Batu Feringghi resort area comprises mainly 3-storey semi-detached and bungalow homes. More info about Blossom Time’s Batu Feringghi project at Naluri unit’s maiden project set to blossom.

Other planned resort condominium schemes likely to be launched next year include Plenitude’s 10.6 acre sea front resort development located opposite Rasa Sayang Hotel and Spa, a 42-acre mixed-development joint development project at Mount Pleasure Resort by AP Land and IJM Properties and Bolton’s first project in Penang in Tanjung Bungah – a high rise condominium project comprises two blocks of 28-storeys with total 396 condominium units.

Besides its historical and truly Asia multi-cultures and heritages, Penang has good health care services which is fast catching up with those in developed European countries and good supporting international schools namely St. Christopher International Primary School, The International school of Penang and Dalat international school. Penang Island is certainly a choice liveable city in this region and ideal destination for your holiday and retirement homes. More at related link -Making Penang, Malaysia your second homes.

With only USD72,000 (RM250,000) and above, foreign investors are eligible to purchase and own a resort condominium or holiday home in Penang. There is no restriction for foreign investors to acquire more than one properties. Subsequent disposal of the properties will no longer be subject to any real property gains tax following the recent relaxation of property rulings by the Malaysian Government.

For advisory on property investments in Penang tourism belt, 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.

If you have not visited Penang before or lost touch with Penang for many years, watch this video show by David Chan’s Penang Scenic Slide Show and Lone Pine Hotel’s Penang Scene.

View of the Tanjong Bungah Coastal Area

Coastal Tower along Tanjong Bungah-Batu Feringghi coastal area

View of Eden Seaview in Batu Feringghi

Sri Sayang Service Apartments

Ferringhi Villa, Landed bungalow homes in Batu Feringghi

View of the Batu Ferringhi Beach .