50 Most Popular Projects in Penang

September 4th, 2015 2 comments

The chart below shows the top 50 most popular projects in Penang, based on the total number of project page views we have received in the past 90 days (01 June – 31 Aug). If you own one of these properties, you may be interested to know how popular is your investment and what is being discussed today.

For developers, if your project is not in the list, most likely you haven’t done enough to market your project in the past 3 months. :)

50 Most Popular Projects in Penang

 

Housing affordability has been a hot topic across the country in the last few years, and Penang is no exception. It explains why affordable housing projects are always at the top of the list. But that is never the same for the affordable housing in mainland. Despite selling below RM250,000, it doesn’t seems to be generating much traction among Penangites. Undoubtedly, many are still not willing to compromise location brand for affordability.

 



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RM100 mil Sia Boey redevelopment project launched in Penang

September 3rd, 2015 No comments

sia boey market penangThere will be colour at the dilapidated Sia Boey Market in George Town this Sunday when the Penang government launches its RM100 million Sia Boey: Reborn project.

Chief Minister Lim Guan Eng said the 5.5-acre project will regenerate and rejuvenate the market, the long-neglected Prangin Canal and its vicinity, and transform the area into a centre for art.

He said the Penang Arts Society, Penang Chinese Brush Painting Art Society, Penang Oil Painting Society and local galleries will be showcasing their artworks at the launch ceremony.

To mark the start of a new era, Lim said there will be a week-long exhibition to celebrate the past, present and future of Sia Boey at Prangin Market from this Sunday.

“The public will be able to delve into the rich history of Sia Boey and view the plans for this landmark.

“We invite everyone to come and witness how Sia Boey will transform Penang into the premier destination for artists and art lovers, for locals and tourists,” he said at a press conference at Komtar today.

Part of the plan for Sia Boey is the centrepiece Ilham Penang, a privately funded public art museum. ‘Ilham’ is the Malay for inspiration.

Lim said the state will also ink an agreement with the future sponsor of the museum for an expected RM30 million.

Also in the pipeline is the restoration of shophouses in the area, which will house art galleries, studios, schools, workplaces, restaurants and cafes.

The Victorian Prangin Market will show off another famous Penang art form: its street food. Meanwhile, Prangin Canal will be upgraded to complement a two-acre public park with sculptures and installations.

The entire project, which aims to make George Town an internationally arts and culture destination, is scheduled to be completed by 2018.

Source: TheEdgeProperty.com

READ MORE: Penang LRT Central Station to be built at Sia Boey



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Mount Erskine – Serene Location Within The City

September 2nd, 2015 No comments

mount-erskineTanjung Tokong, a popular hotspot that has attracted many locals and appeals to a lot of holidaymakers. Nestled in the north east district of Penang, affectionately known as the Pearl of the Orient, its ascendancy to popularity originated from the early development of Seri Tanjung Pinang by E&O with product offering that includes luxury seafront residences.

As the days go by, the location itself has evolved into a vibrant and exciting brand. This has tempted many developers, taking advantage of the appeals of the location and the growing intensity of the brand, to continue to offer an abundance of high rise development projects. With more than 5,000 new homes in the making within Tanjung Tokong, it is adding undue stress to the vibrant development of the area and traffic is becoming a concern.

Popularity does indeed have its price. As it fast approaches the status of a high density category, an alternative yet an appealing choice for many home seekers is Mount Erskine, until recently an untapped market of inherent appeal of its own.

Mount Erskine

For those seeking tranquility and serenity of its surrounding, away from the hustle and bustle of city life and the nightmare of traffic congestion, this site would pose an attractive option.

Due to its elevated land and perched firmly on higher ground, high rise development in this area will be treated to a great spectacle of unobstructed panoramic view of the Andaman Sea. The site’s easier accessibility to schools within its vicinity, hyper markets and wet markets allows a greater sense of connectivity as convenience becomes an added advantage.

Coupled with the availability of popular hang outs, just a short drive away by car, this new possibility as an alternative to Tanjung Tokong is fast becoming a credible choice compared to other alternatives.

Mont Residence

To live in a luxurious setting coupled with the stunning yet captivating view of the Andaman Sea definitely comes with a price that might be beyond the means of many however Mont Residence is an exception. It is able to offer luxurious living at an affordable price yet home seekers can expect only high quality product offerings from an esteemed developer that has aimed to carve a niche in quality lifestyle offering.

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The difficulty in attempting to balance the element of luxury with affordable pricing might seem like an insurmountable challenge yet that is precisely what Mont Residence is confident in achieving.

Welcome then to the luxurious yet affordable possibility of Mont Residence.

* Click here for more details about Mont Residence *

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University Metropolis @ Batu Kawan

September 1st, 2015 22 comments

kdu-batu-kawan

Penang’s first university metropolis in the fast-growing district of Batu Kawan. The metropolis will be developed by Paramount Property, the property development arm of Paramount Corporation Bhd. This development will be anchored by a new purpose-built campus for KDU University College Penang, and featuring residential, commercial and retail elements.

The university campus will occupy 10 acres of land while the remaining 20 acres will be dedicated to a mixed development, with an estimated potential gross development value of RM1.3 billion.

The new KDU University College in Batu Kawan will feature a green campus with a comprehensive range of academic, sports and recreational facilities to create live-and-learn as well as work-and-play environments to stimulate and promote learning. The new campus is expected to be ready by 2018.

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Penang property market getting bigger and exciting

August 30th, 2015 No comments

penang-averageby Charles Tan

I think Penang property market is starting to get more advanced. There was a time when developments were just a few hundred million in terms of gross development value (GDV). Then the bigger players arrived and bought huge pieces of lands. There are now more integrated developments. On a yearly basis, if we use Q1 2015 as a benchmark the total transactions in terms of amount would be around RM6.2 billion. Do refer the attached image. Well, according to a report in a local daily, the total new launches in Penang by the major property developers are up to RM16.3 billion. All these launches are supposed to be launched within the next two years despite the current negative overall environment.

This RM16.3 billion of new developments include GDVs from IJM Land Bhd, Eco World Development Group Bhd and Sunway Bhd with RM4 billion, RM10 billion and RM2.3 billion respectively. As for those with existing developments, they include Mah Sing Group with RM2.09 billion GDV, Tambun Indah Land Bhd with RM4.1bil and Penang’s very own Ivory Properties Group Bhd with a GDV of RM2 billion. Yes, these would be just the major ones and there are still many other smaller ones. These new integrated developments are getting popular because many buyers are now exposed to all these lifestyle products. As for the developers, due to these developments being integrated, they are able to have the best of both worlds; residential and retail portions.

I think it’s great that majority of these developers are big names. They would definitely have deeper pockets and should be able to still continue launching these projects and attract many of their loyal buyers. As for investing in properties, it should always be for the long term. Based on the high loan rejections thus far as per many property players there, I think the market remain healthy and should have a more orderly price adjustments for both the developers’ launching price and buyers’ more objective assessments. Gone are the days when launchings in Penang meant queues which form days ahead. In fact Penang is having many new affordable projects from both the state government and private developers that I think would definitely have cooling effects which will benefit Penangites too. In the meantime, if you need a home, anytime is a good time to buy. Just buy within your means.

>> This guest article comes courtesy of my friend, Charles, the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 12 years experience as well as from all the readings and conversations with property gurus in the industry. (Source)



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