Southbay Plaza
Southbay Plaza, sitting on arguably the most accessible location in Penang, Southbay Plaza boasts access via sea, land and air:
- Close proximity to Penang Bridge
- The Second Link Bridge which is due for completion in 2013
- The Bayan Lepas Expressway leading towards Georgetown
- A short drive from the Penang International Airport
- Rapid Penang transport service route
- To be linked via a future network of water taxis along the Penang Strait
Featuring a modern design expression within Southbay City, Southbay Plaza offers a stunning balance between prime location, lifestyle amenities and luxurious living spaces. It is an absolute gorgeous landmark with two majestic towers, perfect for the classiest and is currently the most architecturally distinct high-rise building in Batu Maung.
Lifestyle Retail
Southbay Plaza’s lifestyle retail shops combine a rich business & retail experience with one of the most diversified, colourful & vibrant lifestyles in Penang.
- Glass façade offers a dazzling array of reflections
- Building’s transparent skin allows a soulful play between interior and exterior spaces
- Pleasant overall façade transformation from day to night
- Interior spaces without interrupting columns
- Variety of layouts affording flexibility of self-expression
1-storey retail shop : Indicative 1,200sf to 1,500sf
2-storey retail shop : Indicative 2,800sf to 3,200sf
3-storey retail shop : Indicative 4,500sf to 14,000sf
Residential Suites
The residences at Southbay Plaza set a new standard for sustainable luxury real estate in Batu Maung by blending luxury amenities and life-enchancing benefits.
- Elegant suites blend luxury amenities and life-enhancing benefits
- Rising 30 storeys with a modern glass facade
- Breathtaking views of the sea, Penang Bridge and the new Second Link, the city and the Penang International Airport
- Large balconies for stunning panoramic vistas
- Green features to promote a healthy lifestyle
- High ceilings add architectural grace notes to these homes
- Type A (2 bedroom) : Indicative 1,030sf
- Type B (1+1 bedrooms) : Indicative 1,030sf
- Type C (2 bedrooms) : Indicative 1,145sf
- Type D (3 bedrooms) : Indicative 1,610sf (Duplex)
- Type E (3+1 bedrooms) : Indicative 1,620sf (Duplex)
- Type F (2 bedrooms) : Indicative 1,325sf
- Type G (3+1 bedrooms) : Indicative 1,625sf
- Type H (3+1 bedrooms) : Indicative 1,635sf
Property Project: Southbay Plaza
Location : Southbay City, Bayan Lepas/Batu Maung, Penang
Property Type : Retail & Serviced Residence
Built-up Area: 1,030 sq.ft. onwards
Land Tenure : Freehold
Developer : Mah Sing Group
Indicative Price : RM600,000 onwards
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600/sf at this location??? Are you kidding?
Wow…. nearly fainted!
Don’t faint yet until you see people queue 1 week earlier for the launch, and very likely most of the good units are already being taken up by bulk buyers, staffs etc by that time.
The rest of the area notably Pavilion (latest to launch) is around 300-400psf…but probably this is having unblock seaview.
If this is the case, I believe the upcoming reclaim land project in front of Baystar apartment (in front of Queensbay mall) and Bayan Mutiara will easily cost >RM600/sqft.
Why so attractive for this project that can cost us >RM600psf?
Really unfair for those low middle income people. Furthermore, it will push up the house pricing in surrounding area.
I believe the speculator is higher than the genuine buyer during the softlauch of this project.
Asia green purchased a plot of freehold land at queensbay from CP land at >400psf. So you bet the future development there will not cost anything <=800psf. Mostly likely are high rise, high dense studio suites to clinch as much profit margin as possible.
Southbay city is an award winning waterfront developement, it is well publicised, and reported in major financial magazine and newspaper. Not only within Penang, pretty sure it will attract interest from outer-states and overseas as well, furthermore the units are limited, it is not a surprise it will be sold out immediately after launch.
At this location near industry and cargo way, I don’t think any oversea buyer will be interested.
Type A (2 bedroom) : Indicative 1,030sf .. how much per sf?
RM650psf, so this unit can be RM650k++. Freehold, commercial title.
@BB
Don’t faint yet, wait till you see most of the units has been grab.
I doubt it will be hot selling til have to queue. Speculators buy low sell high. With more than 600psf I doubt there is enough room to appreciate after OC. With 2012 economic outlook, speculators will even be more cautious. Unless something big fall on Penang island, there are not enough economic activities to support such high price at such location.
My friend purchased an unit at The Light Collection II for 570psf just less than a year ago, ~1400sf, freehold, residential title, 2 car parks, semi furnished with kitchen cabinets, air-cons, and heaters. Location wise I think The Light is at least comparable or better than Soutbay, and there will be integrated commecial development in the future as well. So, either my friend was lucky, or southbay plaza is just simply over-priced, its for you to judge.
I have been waiting for this project for years, from the starting indicative of 400psf to current >600psf, its trully disappointing. Icon residence is another one.
Latest news is RM800 per sqft
heard it will be launching in 2 weeks time, price likely to be >700psf. Sounds a bit over, perhaps they are trying to benchmark the price with E&O, 118@island plaza, jazz residence, by the sea, sunrise@gurney, mansion one, light collection III and etc. On whether this price is justifiable..now definitely not, guess they have factored in the future 2nd bridge, and the successful whole southbay development into the whole picture.
I still would be expecting a brisk sell anyway, in view of mahsing’s reputation, they have a way to make it successful. I am tempted but my sub-conscious tells me otherwise.
Tower A preview next weekend. Pay a visit to check the pricing & layout.
Tower A preview 7&8 Jan 2012. Latest is price starts from <RM600psf. Anyone can confirm?
@sclhing
Oh. they revise their price to below RM600 psf?
Below RM600 per sqft the smallest unit also RM600K
hi, called to mah sing office. 10% rebate, developer absorb interest, semi-furnished, free legal fees. cool!
worth to buy if you are rich ppl and dunno where to keep your money.. i meant it.
for engineer and FIZ workers…better back off
speculation for high rise pricing to reduce in 2012.
yup, how many engineers or managers want to buy 600k condo (smallest unit)??
better go for landed property if more than 600k!!!
some more need to pay monthly maintenance fee.
@sclhing
I just called them up, they said start from 800psf…. I was like, wow!
Just studied the location on where the project site might be, is on top or beside existing War Museum. Not sure you guys believe it or not, but might afraid the residential over there will be haunted.
@Jeffy
Hi. Yes. You are right. Went fishting there before, everyone remind us to leave the area before 7pm. Heard the place is ‘dirty’
@Jeffy
I went to their office yesterday & seen the show units & the sales person show me the pricing as well. It’s not from 800psf, it’s approximately <600psf onwards.
For block A which is going to launch this saturday, airport view unit sells at RM570 after 10% rebate while seaview unit sell at RM630-RM650. Each floor will be increased price by RM8k-10k depending on the number on that particular floor
The seaview, corner unit at ~1100sf is selling at ~800k. First 5% discount will be given on the deposit, which means you only have to pay 5% or 40k as entry cost. Subsequent 5% discount during the first progressive payment. Thirdly you can choose either to go for further 5% discount or zero interest during construction. Considerate total discount of 15%, the start price is around 600psf for seaview units.
Price wise sounds reasonable for a almost fully reno/furnished service apartment in a waterfront integrated development. The only problem is that the discount is given in the form of cash rebate, the “On Paper” or S&P price will still be showing price before discount, which means higher loan commitment, more difficult loan application and higher interest if hold for longer period.
This package is definitely designed for those investors who are looking for lower entry cost, and flip upon completion. Coupled with bank loan with zero lock-in period (such as islamic loan), this sounds even more perfect for them.
Not to forget that with each increase in floor level, the price raises by >=8k, which means higher floor units will command a singnificantly higher price. If not mistaken, they will open for staffs first tomorrow, likely-hood is that the lower floor units will get snapped out first and left the more expensive units for public to savour, lets see.
I am comparing right now whether should go for The Wave @ Times Square or southbay, do share your views if any.
@sbp
If I were you, I will opt for Southbay than The Wave due to the location & the developer.
definitely the wave has better prospect that this Southbay…..
At the moment Batu Maung area is still considered “rural”. Look at the surroundings. It will take many many years of rapid development to be on par with Gurney, Tg Tokong or even QB Mall are. The selling price must have factored in all the future growth in that area which is still unknown. Just 2nd bridge and the so-called high end shops at SB Plaza will not attract foreigners. You need more than that. Like international schools, hyper market, recreation centers etc. we will hv to see any brave investors jumping into this boat.
Anyone purchase for this project?? Pls share.. I going to book 1 for investment
@thunder
I disagree with you. Southbay has better potential than The Wave.
Bad choise, bad move, bad taste
hi, anyone know what is the sale situation ?
i went there about 3pm just now. still more than 50% units available. Some units taken by Mah Sing staffs. mostly taken unit are seaview and 1,100sqft.
overprice project.
Overpriced or crazily priced?
This is kind of price is beyond my budget and comprehension. I would safe money to buy landed property in future
I heard Tesco will take the entire retail podium. Correct?
Rec SMS from mah sing : Due to overwhelming response to Tower A of SOUTHBAY PLAZA, Tower B will be opened for preview today from 2pm. Show units available for viewing
Tower B only open 50 units. As of 2:30pm, only 5 units sold
Update,
if there are more than 50% available….it means after deducting bumi units and units reserved by managment….the possible selling rate is around 20% – 30%….Not good for a project that do so many years of marketing…..not forgetiing the drop off rate. After achieved good biz for the past few years…all developers are too much !! on the pricing.
I have finally decided to book one at The Wave instead…Soutbay was still my first choice but the marked up s&p price really proven to be too much for me, even to go for 70% LVR, as I still have plan to purchase a landed for own staying recently. The Wave at least still have at least 1.5 year buffer time for real s&p, and of couse the design does catch my eyes pretty well, nice.
Southbay is better than The Wave… interm of investment.
Also take note that if the commercial is sold and not lease, you will expect all sorts of tenants…
too expensive..Not worth…I’d rather but in Tanjung bunga…
this is from rm761k for a 1100sqf unit. 1 car park only.additional is rm26k. and maintenace fee is rm0.30/sqf…
if to stay and not because its near to working place, better go for Tg Bunga,Alila horizon example, now sub sail with sea view only rm800k for 1350sqf.2 carparks. maitenance only rm0.20/sf
@Mike Mah Sing set too the price too high, for own stay still ok, for investment not worth it. I prefer to buy landed property in mainland, RM800k can buy a bungalow.
Not sure how reliable but was informed there is a transaction cross hand at 900psf recently on subsale. That fast?
600psf I also won’t buy at this period of time. Don’t even mention 900psf.
Southbay residence is only 300-400psf.
Please don’t buy southbay property anymore in penang. Their rules & regulations in the deed of convenant is so loose that they are now already more than 80 over foreign workers staying in southbay residence. Imagine southbay lagenda and southbay plaza is full of foreign workers staying in the so called “luxury residence”. How ironic. I’m very disappointed with some of the owners/speculators/investors that have no regards to other owners feeling.
@lamgh
I heard they moved out alredi