Tropicana Bay Residences @ Penang World City

February 5th, 2013 Leave a comment

Bay Residences, the phase 1A of Penang WorldCity development by Tropicana Ivory Sdn. Bhd. Strategically located within Bayan Mutiara, a new development hub located in the eastern part of the Tun Dr Lim Chong Eu Expressway and in the vicinity of Sungai Nibong. Comprises four 22-storey residential tower, with condominium unit size ranging from 455 sq.ft onwards.

Property Project : Tropicana Bay Residences @ Penang World City
Location : Bayan Mutiara, Penang
Property Type : Residential
Land Tenure : Freehold
No. of Blocks : 4 blocks of condominium
No. of Storey : 22
Built-up Area : 455 sq.ft. – 1,945 sq.ft.
Indicative Price: RM359,900 onwards
Developer : Tropicana Ivory Sdn. Bhd.
Contact No: +604-659 6888

 

Contributed by reader (Update – 02 Oct 2013)

 



Categories: Bayan Mutiara Tags:
  1. Concern buyer
    May 14th, 2014 at 16:34 | #1

    IsaacTan :
    @Concern buyer
    The $400k unit was it because of location?
    If it was at good location, i dont think it will be hard to get rid of it.

    Bayan Lepas, Sg Ara area condo.
    All mainland area hard to move if above RM400k (including landed property).

    mmm :
    @Concern buyer
    I am looking for a unit at Gold Coast. I am willing to pay RM500k for the 1100sf high floor unit. Not sure which apartment unit above RM400k that your agent cannot move…

    Good example. She can’t move Gold Coast because its not RM500k. It is >RM600k. There’s no market. Demand is low. If price drop 20% to RM500k for Gold Coast, demand will pick up. Engineer also no money to buy >RM600k house.

    So wait a bit. Penang house price will have massive correction soon.

  2. Concern buyer
    May 14th, 2014 at 16:35 | #2

    IsaacTan :
    @Concern buyer
    The $400k unit was it because of location?
    If it was at good location, i dont think it will be hard to get rid of it.

    Bayan Lepas, Sg Ara area condo.
    All mainland area hard to move if above RM400k (including landed property).

    @mmm
    Good example. She can’t move Gold Coast because its not RM500k. It is >RM600k. There’s no market. Demand is low. If price drop 20% to RM500k for Gold Coast, demand will pick up. Engineer also no money to buy >RM600k house.
    So wait a bit. Penang house price will have massive correction soon.

  3. IsaacTan
    IsaacTan
    May 14th, 2014 at 16:46 | #3

    @Concern buyer
    Hahahaha most Engineers are poor including myself as a PE (poor engineer).
    I think the main reason hard to buy a > RM600k house was mainly because of the interest rate.
    If interest rate was as low as 1.5-2%, i believe many people will afford to buy houses.
    Now buying a RM500k house is like paying RM1m at the end of 35years loan.

  4. mmm
    May 14th, 2014 at 16:53 | #4

    Concern buyer :

    IsaacTan :
    @Concern buyer
    The $400k unit was it because of location?
    If it was at good location, i dont think it will be hard to get rid of it.

    Bayan Lepas, Sg Ara area condo.
    All mainland area hard to move if above RM400k (including landed property).
    @mmm
    Good example. She can’t move Gold Coast because its not RM500k. It is >RM600k. There’s no market. Demand is low. If price drop 20% to RM500k for Gold Coast, demand will pick up. Engineer also no money to buy >RM600k house.
    So wait a bit. Penang house price will have massive correction soon.

    So it is case by case basis la… Regency Heights RM400k nobody want?

  5. bulangsai
    May 14th, 2014 at 17:26 | #5

    @Teng

    “I only believe in speculative buying of property that has spiraled up the price for the last few years”

    Well, you said it yourself, “speculative buying”. The state gov has tremendous power in controlling land/property matters. Why have they not put in policy to stop speculation? And they have actually exacerbated the situation by selling large tracks of land to private developers. I hope the state would do better in Batu Kawan. Don’t screw up any further!

  6. behpangsai
    May 14th, 2014 at 17:34 | #6

    What’s wrong?

  7. behpangsai
    May 14th, 2014 at 17:35 | #7

    “I only believe in speculative buying of property that has spiraled up the price for the last few years”. Well, you said it yourself, “speculative buying”.

  8. behpangsai
    May 14th, 2014 at 17:38 | #8

    Why has the admin not put in effective measures to stop speculation?

  9. behpangsai
    May 14th, 2014 at 17:39 | #9

    They have in fact exacerbated the situation by selling large tracts of land to private developers!

  10. behpangsai
    May 14th, 2014 at 17:40 | #10

    And guess what the developer did to make money after buying the land? They sell it to another developer for profit, before even building a single inch of homes!!

  11. Jj
    May 14th, 2014 at 18:06 | #11

    I am just wondering….. how is the Quay West Selling?

    Any idea? Sorry i am not base in PG so i have no idea……..

  12. aabbcc
    May 14th, 2014 at 18:06 | #12

    Ok… lets jump into conclusion

    those can afford to buy at this price go ahead

    those cant afford dont buy..

    Those want to wait can continue…

    end if story…

  13. Teng
    May 14th, 2014 at 18:19 | #13

    @behpangsai

    Bla bla bla…

  14. Concern buyer
    May 14th, 2014 at 18:34 | #14

    Funny talking by China property agent during current China bubble:-

    Mr. Su, the real estate broker, worries that the market tumult shows no sign of ending. “There is not much else I know how to do,” Mr. Su said. “Maybe I will consider selling insurance on the side, if business continues to slow.”

  15. richdaddy
    May 14th, 2014 at 19:05 | #15

    Lai lai!! Price still reasonable
    sama-sama goreng~

  16. cm
    cm
    May 14th, 2014 at 23:59 | #16

    So long story today …

    But, don’t forget this is PWC-TBR page …
    Any updated new for this PROJECT?

    When can start Foundation Work ?
    Who is the buyer can help keep updated it. (*.*)P

  17. lol
    May 15th, 2014 at 00:33 | #17

    This story tell us, wait PWC price decrease to 400psf only sapu, funny?

  18. Concern buyer
    May 15th, 2014 at 08:11 | #18

    lol :
    This story tell us, wait PWC price decrease to 400psf only sapu, funny?

    Nope. This story tell us that majority Penangites have no means to buy over than RM400k condo. Those that have money to buy more than RM400k condo already bought or already invested in one. So that’s why there’s no subsale market for anything above RM400k condo. So buyer/investor/flipper with condo that cost more than RM400k are stuck. You can’t even rent it out because supply is more than demand.

    This signal the fall of Penang property market and the market is crashing now. If you’re free, you can go to subsale market to ask for 20% discount. YOU WILL GET IT!!!

  19. DontLaugh
    May 15th, 2014 at 08:43 | #19

    @lol

    This story tell us if you’re buying this to flip, you’re going to have a tough time later. But if you’re buying for own stay, who cares if you pay RM5kpsf for anything at all!

  20. Concern buyer
    May 15th, 2014 at 08:53 | #20

    DontLaugh :
    @lol
    This story tell us if you’re buying this to flip, you’re going to have a tough time later. But if you’re buying for own stay, who cares if you pay RM5kpsf for anything at all!

    Actually quite good advice for any buyer out there.

  21. ex
    May 15th, 2014 at 09:34 | #21

    50% of my gross salary goes to mortgage loan. Does this healthy?

  22. Concern buyer
    May 15th, 2014 at 09:40 | #22

    ex :
    50% of my gross salary goes to mortgage loan. Does this healthy?

    Depend on your lifestyle bro.

  23. ex
    May 15th, 2014 at 09:49 | #23

    Average lifestyle, but not much saving at the end of the year (~5k per year). How about others, how many % for mortgage? I just want to know whether i over commit to mortgage.

  24. aabbcc
    May 15th, 2014 at 10:49 | #24

    ex :
    50% of my gross salary goes to mortgage loan. Does this healthy?

    Definately better if u compare buying a car with 50% of gross salry.
    I think its fine… will make u work harder lol…q
    if find it difficult than just rent out ur unit. And rent a lower price to stay…. thats what i did for my 1st property

  25. DontLaugh
    May 15th, 2014 at 10:56 | #25

    @ex

    It really depends on what your income is.

    If you earn a salary of RM30k a month, a 50% mortgage would still leave you a decent amount to spend on other things (eg. a bmw, ski trips, wine & dine ).

    If you earn a salary of RM3k a month, you would have to take motorbike to work, and eat economy rice for dinner. A horny gf would be handy, as you don’t have to spend money for outings, just stay home skru whole day, get more bang out of the mortgage that you are paying…..:)

  26. IsaacTan
    IsaacTan
    May 15th, 2014 at 11:15 | #26

    @ex

    My advise to look at the overall big picture.
    Entire monthly debt ratio good to be kept around 60%-70%.Of course the lower the better.
    That including your cars, houses and other monthly installment cost.

  27. eeyer
    May 15th, 2014 at 16:57 | #27
  28. IsaacTan
    IsaacTan
    May 15th, 2014 at 17:04 | #28

    @ex
    You got a unit at PWC? From phase I?

  29. IsaacTan
    IsaacTan
    May 15th, 2014 at 17:35 | #29

    IsaacTan :@equals So we whack your partner like a horny bitch?

    *you

  30. IsaacTan
    IsaacTan
    May 15th, 2014 at 17:46 | #30

    @ex
    Not about being lust. Just can’t stand people for being disrespectful

  31. Aglio Olio
    Aglio Olio
    May 15th, 2014 at 22:55 | #31

    @Concern buyer
    20%?! Any successful case?

  32. yahoo
    yahoo
    May 17th, 2014 at 00:11 | #32

    hope this doest not become a similar shineville park thread.
    We should talk more about the project and not others non related stuff…

    i heard foundation work will start june/july. anymore heard of it as well? just wonder with more than 1300units, can they complete on time.

  33. khtan
    khtan
    May 17th, 2014 at 22:48 | #33

    Everyone hopes to buy property/ies when the price is low (how low is low?) especially during economy recession, govn cooling measures etc., but in actual when it happens, not much people dare to do so, a lot of own-created excuses, constraints & considerations will stop them fr buying. Years later these ppl will regret & blame themselves while their mouth open wide looking at others making money…

    When u think the price is high, pls bear in mind, it does not apply to all. Rich ppl are increasing every single day, & importantly every single person values thing/s differently…

    *No one can guarantee it is a bad or good investment.

    For those who own a TBR unit, do save more within these few yrs if yr holding power is weak. Bad time don’t sell, can consider to rent it out to cover yr partial repayment/installment & so-called bank’s interest. It is freehold after all, why rush?

  34. Concern buyer 2
    May 17th, 2014 at 23:08 | #34

    @khtan

    If cannot rent out how? how many unit in total for TBR? Not to mention other project nearby. Everyone also apply same strategy then will it still work?

  35. khtan
    khtan
    May 17th, 2014 at 23:26 | #35

    Every investment comes with risk, no one can 100% sure whether u can make $, can or can’t rent it out. For instance, if the condo rental demand is high now at that area, will it be still high when u obtained the OC about 4yrs later? It’s all about risk taker or risk adverse…

  36. khtan
    khtan
    May 17th, 2014 at 23:34 | #36

    @Concern buyer 2
    Some sub-sale units come with existing rental contract, it might be another option for u, but there is also a risk u might face when the existing rental contract expires… Risk again…

  37. cm
    cm
    May 18th, 2014 at 00:27 | #37

    khtan :
    Everyone hopes to buy property/ies when the price is low (how low is low?) especially during economy recession, govn cooling measures etc., but in actual when it happens, not much people dare to do so, a lot of own-created excuses, constraints & considerations will stop them fr buying. Years later these ppl will regret & blame themselves while their mouth open wide looking at others making money…
    When u think the price is high, pls bear in mind, it does not apply to all. Rich ppl are increasing every single day, & importantly every single person values thing/s differently…
    *No one can guarantee it is a bad or good investment.
    For those who own a TBR unit, do save more within these few yrs if yr holding power is weak. Bad time don’t sell, can consider to rent it out to cover yr partial repayment/installment & so-called bank’s interest. It is freehold after all, why rush?

    Agree

  38. lim
    May 18th, 2014 at 09:14 | #38

    Do not count on rental. Current rental market is bad as well. Either you cannot get tenant or bad rental return (~2%)

    Do not buy the property if you are not ready to fund the installment.

  39. IsaacTan
    IsaacTan
    May 18th, 2014 at 09:28 | #39

    Will Penang property market go up again??

  40. Concern buyer 2
    May 18th, 2014 at 09:57 | #40

    @IsaacTan

    Of course yes. the question is when?

    Don’t forget that before 2008, property has been stagnant for a long time. it is after 2008, it suddenly rocket up.

  41. IsaacTan
    IsaacTan
    May 18th, 2014 at 10:01 | #41

    @Concern buyer 2
    As a rough guess, how long will this round drop/stagnant last?

  42. Rich Man
    May 18th, 2014 at 11:09 | #42

    IsaacTan :
    @Concern buyer 2
    As a rough guess, how long will this round drop/stagnant last?

    1997 – 2008 was the stagnant preriod. I bought few properties at 20% discount during those period, including 1 in pulau tikus, so called prime area.

    So, take your time. 20% drop is a good guide. But possibly higher drop this time, as price is over inflated.

  43. IsaacTan
    IsaacTan
    May 18th, 2014 at 11:20 | #43

    @Rich Man
    Thanks and no wonder you’re a “Rich Man” now…

  44. pwc
    May 18th, 2014 at 11:23 | #44

    This is TBR sharing forum and now we have so many self proclaimed guru giving advice.
    If people want to buy or not buy, it’s their choice.

  45. rojak
    May 18th, 2014 at 12:16 | #45

    @pwc

    Yes, I agree with you, the final choice of buy or not is the buyer’s own. However, I think what these people are trying to do is to give potential buyers more info, more point of view to consider before making the choice.

    But I can sense that a lot of people are frustrated with developer’s sticker game, with the authority doing nothing to stop that. What happened to consumer protection? Doesn’t the state gov think that the buyers deserve fair and transparent trade?

  46. cm
    cm
    May 18th, 2014 at 12:27 | #46

    rojak :
    @pwc
    Yes, I agree with you, the final choice of buy or not is the buyer’s own. However, I think what these people are trying to do is to give potential buyers more info, more point of view to consider before making the choice.
    But I can sense that a lot of people are frustrated with developer’s sticker game, with the authority doing nothing to stop that. What happened to consumer protection? Doesn’t the state gov think that the buyers deserve fair and transparent trade?

    your suggestion is good … developer must provide real information ..

  47. pwc
    May 18th, 2014 at 13:00 | #47

    If the intention is to give more info etc to potential buyers, its fine. You and I know some obviously have ulterior motives. I personally dont like ivory but i think the forum is now diluted with too many self declared gurus opinions which are mostly not related to TBR.

  48. Rich Man
    May 18th, 2014 at 14:42 | #48

    For PWC, you should be more concerned on project abandonment, rather than price drop.

  49. super
    May 18th, 2014 at 16:45 | #49

    @Rich Man

    I have some sour grapes, want some?

  50. khtan
    khtan
    May 18th, 2014 at 21:34 | #50

    lim :
    Do not count on rental. Current rental market is bad as well. Either you cannot get tenant or bad rental return (~2%)
    Do not buy the property if you are not ready to fund the installment.

    I didn’t say anything about rental return, I said can consider to rent it out to cover portion of the mthly installment and/or bank’s interest during bad times if the selling price drop… I don’t believe those can afford to buy such condo for investment can’t afford to pay their own $ about 20% to even 40% of their mthly installment after rental fee deduction…

  51. khtan
    khtan
    May 18th, 2014 at 21:46 | #51

    Forum is for info sharing, good & bad comments only serve as references, final decision still up to the one who perceived it…

    Encouraging ppl not to buy may be good to that particular person as less demand will lead to price drop, then he/she might grab it to make $$$ in the future.

    To me, no risk no gain… Importantly once committed a unit, let’s hope for the best in time to come…

  52. huatchai
    May 18th, 2014 at 22:25 | #52

    Take smart risk, make smart money. Simply take risk, loose dumb money. No risk no gain, that’s only one side of the coin. There’s still the other side.

  53. tomyam
    May 19th, 2014 at 07:39 | #53

    I think next stage of progress is coming soon. Received
    1)letter from TropicanaIvory sending letter to lawyer firm to confirm buyer loan all approved.
    2)confirm letter from lawyer firm that the loan amt with bank process all complete.

    By the way, for those taking Maybank loan offer, anyone know when we except to see housing loan account no to appear in our current bank account? or we still need to go bank to do it by ourown?

  54. ah huat
    May 19th, 2014 at 07:49 | #54

    huatchai :
    Take smart risk, make smart money. Simply take risk, loose dumb money. No risk no gain, that’s only one side of the coin. There’s still the other side.

    Invest penang property, be a millionaires no longer just a dream.

  55. Rich Man
    May 19th, 2014 at 08:50 | #55

    ah huat :
    Invest penang property, be a millionaires no longer just a dream.

    If so easy… you won’t see begger on the street.

  56. huatchai
    May 19th, 2014 at 10:46 | #56

    @Rich Man

    How you know? Maybe beggers are flipping too!

  57. Tai Loh
    May 19th, 2014 at 11:01 | #57

    If price drop, just hold on and you will recover / gain when boom returns.

    If project abandoned… you lose all, and carry debt (for nothing) for the rest of your life. We are talking about a million here, it’s not a risk, but DEATH.

  58. KH
    May 19th, 2014 at 12:29 | #58

    Rich Man :

    IsaacTan :@Concern buyer 2 As a rough guess, how long will this round drop/stagnant last?

    1997 – 2008 was the stagnant preriod. I bought few properties at 20% discount during those period, including 1 in pulau tikus, so called prime area.
    So, take your time. 20% drop is a good guide. But possibly higher drop this time, as price is over inflated.

    Do tell us whenever u think is good time to buy, as per yr prediction >20% drop, i might want to grab… thks in advance!

  59. Concern buyer
    May 19th, 2014 at 12:34 | #59

    KH :
    Do tell us whenever u think is good time to buy, as per yr prediction >20% drop, i might want to grab… thks in advance!

    No one is going to tell you that. You just need to open your eyes wide wide. And get ready with your money.

  60. ezalor
    ezalor
    May 19th, 2014 at 12:53 | #60

    @KH
    Forget it. They like lousy weather forecaster, every month keep saying “it is going to rain”. And because this, we cannot plan our hiking trip, because it is going to rain mah according to “experts”. Until one day, dont know after how many months, one day it does rains, and the weather forecaster proudly says “I told you so”.

  61. IsaacTan
    IsaacTan
    May 19th, 2014 at 13:09 | #61

    Hope the price to grow healthily……

  62. KH
    May 19th, 2014 at 13:18 | #62

    @Concern buyer
    U get me all wrong man, i m saying d opposite way, since he discouraging all ppl not to buy… lol

  63. foo
    May 19th, 2014 at 13:19 | #63

    Now the weather forecaster say going to have typhoon. Don’t say go hiking, stay at home also dangerous.

  64. KH
    May 19th, 2014 at 13:22 | #64

    @ezalor
    totally agree…

    @IsaacTan
    me too…

  65. ezalor
    ezalor
    May 19th, 2014 at 13:31 | #65

    @foo
    If I keep listen to those “experts” since few years ago, until now I still cant have my own house. Because property price going to collapse mah…why so stupid buy now instead of waiting to buy in “very near future” when we can get 50% discount.

  66. islander_ori
    May 19th, 2014 at 13:42 | #66

    tomyam :
    I think next stage of progress is coming soon. Received
    1)letter from TropicanaIvory sending letter to lawyer firm to confirm buyer loan all approved.
    2)confirm letter from lawyer firm that the loan amt with bank process all complete.
    By the way, for those taking Maybank loan offer, anyone know when we except to see housing loan account no to appear in our current bank account? or we still need to go bank to do it by ourown?

    My colleague got Maybank loan for other project. It will be autolinked to maybank2u once the progressive payment to developer is started.

  67. Concern buyer
    May 19th, 2014 at 13:53 | #67

    ezalor :
    @foo
    If I keep listen to those “experts” since few years ago, until now I still cant have my own house. Because property price going to collapse mah…why so stupid buy now instead of waiting to buy in “very near future” when we can get 50% discount.

    Few years ago got DIBS and price still low. DIBS is causing the property price to go very high. And most household take up huge debt to buy house to flip causing household debt to climb.

    The current pricing is not healthy. It is supported by high loan ratio. Also, there’s not many buyer that can afford current pricing (that went up the roof due to DIBS and property agent).

    So you can’t compare 2011 and 2014. Even China property market especially in HangZhou is popping. So in Penang where the supply exceed demand, bubble will pop soon.

    Don’t worry. Those flipper that have money can hold. Those that can’t, lol…BYE BYE

  68. Rich Man
    May 19th, 2014 at 14:03 | #68

    foo :
    Now the weather forecaster say going to have typhoon. Don’t say go hiking, stay at home also dangerous.

    You are right, if the project is abandoned, even if you hide at home, the bank will still come to see you… and will sue you until you dry.

  69. bahkutteh
    May 19th, 2014 at 14:29 | #69

    @ezalor

    Your weather forecast reminds me of my mum. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home. My advice to her was :-

    (1) If your laundry just came out of the washing machine and still wet, why worry, just hang it outside, you have nothing to loose anyway even if it rains.
    (2) If your laundry is already half dry, why risk it as you can easily dry it indoors under the fan.
    (3) If your laundry is 90% dry, what do you have to gain by risking it outside?

    The thing is, sometimes when the sky looks sunny, it could suddenly turn gloomy. When it’s gloomy, there must be something coming, but no one knows if it’s a storm or drizzle. You can’t accurately predict weather, but you can make a pretty good judgement if you consider what you stand to gain and loose.

    So comes back to property, if you think you’re very likely to have plenty of upside for the next 3 years, go buy lor.

    If you think things are going to be stagnant, do you have more risk than reward if you buy 2 years later? Or have you forgotten about the FAN (alternative investment)?

  70. bahkutteh
    May 19th, 2014 at 14:31 | #70

    @ezalor

    Your weather forecast reminds me of my mum. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home.

  71. cameltoe
    May 19th, 2014 at 14:32 | #71

    @ezalor

    Your weather forecast reminds me of my mum. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home.

  72. cameltoe
    May 19th, 2014 at 14:33 | #72

    @ezalor

    Your weather forecast reminds me of someone. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home.

  73. IsaacTan
    IsaacTan
    May 19th, 2014 at 14:49 | #73

    HOw nice if we could buy property by cash….
    Then less worry on bubble, typhoon, can’t lease out or etc…..

    Hope gov could slow down the land selling process to control the price growing healthily or at least slow down the bubble (as claimed).

  74. Concern buyer
    May 19th, 2014 at 14:53 | #74

    @IsaacTan
    Damage is done. There’s no turning back. Flippers are stuck.

  75. tomyam
    May 19th, 2014 at 15:46 | #75

    @islander_ori

    OIC. Thanks for the info.
    I am asking so because my offer letter have 1 weird requirement due to i request not to take MRTA, they say if dun take MRTA, at least take another product like credit card. Die die also want to add “something” in the offer letter. I talk with the loan agent that I dun want credit card also. Finally the offer letter say I must open another current account(extra) + loan account. If for some reason no $$ put in loan account, they will auto deduct the installment from current account to loan account.
    ok.

  76. IsaacTan
    IsaacTan
    May 19th, 2014 at 16:44 | #76

    @Concern buyer
    Own stay also felt “BO TAT” because feeling your house value depriciated. If interest rate increase then also “Kena”……..

  77. Concern buyer
    May 19th, 2014 at 16:50 | #77

    @IsaacTan
    You are right Isaac. Its called negative equity. In USA, when the housing bubble pop, a lot of home owner feel “BO TAT”. So they refuse to pay the loan. And this causing a lot of bank in trouble. Economy suffer.

    Hopefully Malaysia bank are strong enough to go through this suffering period.

  78. Bruce
    May 19th, 2014 at 22:32 | #78

    Some question regarding to SPA, appreciate those PWC’s purchaser advise.

    According to PWC’s lawyer, developer committed 48 months completion of SPA stamp date.
    For my case, SPA stamping date in May 2014, what if PWC deliver in Apr 2015 then I have no right to claim the late charges. This is what I was told by PWC appointed lawyer. Anyone here please clarify?

  79. Bruce
    May 19th, 2014 at 22:44 | #79

    Bruce :
    Some question regarding to SPA, appreciate those PWC’s purchaser advise.
    According to PWC’s lawyer, developer committed 48 months completion of SPA stamp date.
    For my case, SPA stamping date in May 2014, what if PWC deliver in Apr 2015 then I have no right to claim the late charges. This is what I was told by PWC appointed lawyer. Anyone here please clarify?

    Sorry typo error. Should be “…deliver in Apr 2018…”

  80. islander_ori
    May 20th, 2014 at 08:08 | #80

    @Bruce
    That is simple and clear statement: 48 months completion from SPA stamp date.

  81. foo
    May 20th, 2014 at 09:55 | #81

    @Bruce

    Your lawyer is right. 48 months counted from the data you signed S&P. If you are the late buyer, very unlikely you will get compensation, unless the delay is really huge.

  82. Bruce
    May 20th, 2014 at 12:07 | #82

    @islander_ori

    @foo

    Thank for your confirmation.

  83. Jj
    May 21st, 2014 at 01:28 | #83

    why quaywest 204 comments but TBR 2482 comments?

  84. Raymond
    May 21st, 2014 at 12:58 | #84

    @Jj
    Almost the entire BLK B in Quaywest bought by investor club for flipping. That is why only 204 comments..
    BLk A is too expensive (average above 1 mil).. who can afford or willing to pay such expensive price for a property by an incompetent developer – asiagreen?

  85. Concern buyer
    May 21st, 2014 at 13:00 | #85

    Raymond :
    @Jj
    Almost the entire BLK B in Quaywest bought by investor club for flipping. That is why only 204 comments..
    BLk A is too expensive (average above 1 mil).. who can afford or willing to pay such expensive price for a property by an incompetent developer – asiagreen?

    Asia Green is the problematic developer of the Clover project that still cannot proceed. LOL.

  86. Raymond
    May 21st, 2014 at 13:07 | #86

    That is correct concern buyer. Better avoid projects by such developer. Even getting their plans approved also took them 2 donkey years. Buyers would be lucky if they can get their keys in the end.

  87. bta
    May 21st, 2014 at 13:27 | #87

    The funny thing is that Asia Green doesn’t submit the plan on their own, its done by Ivory. They already started selling openly even though up to-date the plan still not being approved.

  88. bta
    May 21st, 2014 at 13:32 | #88

    Therefore, Quaywest is a bit of un-certainty, those who have booked may ended up losing it, getting back something different (change in plan), or will get exactly if lucky enough. If Ivory is low class in its marketing strategy, Asia Green is definitely one class lower.

  89. aabbcc
    May 29th, 2014 at 14:14 | #89

    Tropicana ivory office said. Piling will start this June or July, And will take 5 month to complete..
    This year can complete piling, 5 months can complete piling?

  90. JajJ
    June 18th, 2014 at 10:49 | #90

    Hi All

    Wanna ask, have your loan lawyer collect the fee from you guys?

    Regards
    JayJ

  91. cm
    cm
    June 18th, 2014 at 20:26 | #91

    JajJ :
    Hi All
    Wanna ask, have your loan lawyer collect the fee from you guys?
    Regards
    JayJ

    Sure have Charge Lawyer Fee lo ….

  92. islander_ori
    June 18th, 2014 at 23:17 | #92

    @JajJ
    Paid during signing the documents.

  93. IsaacTan
    IsaacTan
    June 19th, 2014 at 09:54 | #93

    How’s the sales doing???

  94. Yy
    June 19th, 2014 at 11:35 | #94

    went last week, saw below 20 units left

  95. Yy
    June 19th, 2014 at 11:45 | #95

    My wife seeeeeems to like this project very much……………tell me to consider……mmmmm.

    The construction site has been fence up. No piling work yet. Three visitors around making enquiry. sea view looks nice.
    Its quiet and serene………………the lonely bridge is not just far out…….

  96. ivory
    June 19th, 2014 at 12:42 | #96

    @Yy

    Did you ask her what she likes about this project? Does she know that the seaview that you might get (assuming the unit comes with a seaview) will be gone very soon as new phases is being launched will be blocking the view? Just ask the sales person, they will tell you that.

    And you say it’s quiet and serene? Hello? Pls wake up my friend. It’s located right next to the highway.

  97. tomyam
    June 20th, 2014 at 07:19 | #97

    @Yy

    The general concept, layout etc is very good, i believe most of the people will like it! (Dun talk about price :p), those latest movie clip about the general master plan etc makes the whole project looks interesting.

    Anyway, must accept this project will not have seaview after future phase comes out unless u able to get those highest floor u might still got little chance…

  98. IsaacTan
    IsaacTan
    June 20th, 2014 at 08:58 | #98

    For Quiet and serene, E&O Seri Tanjung Pinang isn’t it a better choice?

  99. kt
    June 20th, 2014 at 09:23 | #99

    @IsaacTan

    STP too far and too expensive for most.

  100. IsaacTan
    IsaacTan
    June 20th, 2014 at 09:37 | #100

    @kt
    Agreed on the price. I thought that area was near to Gurney?

    Another question i had in mind was about the reclaim land. Nowadays saw most of the developer built right after they reclaim the land. Not like last time that they waited for few years for the land to settle before start building anything. Was that the right way to built or it has been factor in with improve of technology?

  101. huatchai
    June 20th, 2014 at 09:55 | #101

    STP is only for the rich and the foreigners. Local working class can’t afford it. Tropicana Bay is definitely noisy, The Light Linear is a good lesson, price going down.

  102. kt
    June 20th, 2014 at 11:41 | #102

    @IsaacTan

    Too far from the bridge and FTZ. Too expensive for the MM2H. Serene not too sure since they have massive reclamation there very soon, dusty will be yes for the next 10 years.

  103. Yy
    June 20th, 2014 at 11:58 | #103

    Thanks everybody.
    Serenity is always in the heart. Though you can be in a noisy airport or even in the midst of KLCC, you see vehicles flow around you, people rubbing against your shoulder, laugh and cry…..u still feel calm and ..there are smile inside you.

    Finally I decided to book one. Luckily I manage to get a highest level ( 22 floor ) . I am a late comer, right? Hope to be your friendly neighbour one day. Nice to meet all of you.

  104. IsaacTan
    IsaacTan
    June 20th, 2014 at 13:37 | #104

    @Yy
    You’re absolutely right! As long as in your heart that was your home sweet home than will be more than enough.

    Congrats on your new home, all the best and hope you will get your nice home soon.

    When you get your home, can invite us for a beer? Cheers……

  105. bella
    June 20th, 2014 at 14:12 | #105

    @Yy

    Agree with you too. As long as your heart and mind is calm, no matter how noisy, you will feel happy too.

    Maybe you should consider Light Linear, good workmanship and you can easily get it now at RM600psf. It is much cheaper than Tropicana Bay psf-wise.

    You get a seaview too, no risk of view getting blocked as almost all the projects in front of it is completed. It comes with very nice common facilities too. The reason for the low price is the noise, but if you’re the type with serene heart and mind, it is very good option for you. You can move in anytime, no uncertainty about completion date.

  106. Strawberry
    June 20th, 2014 at 14:47 | #106

    @bella

    Apart from the “noise”, how about the maintenance fee ?

  107. Nana
    June 20th, 2014 at 15:10 | #107

    @huatchai
    u want quiet environment, go to balik pulau or kulim. The light price keep going up. Prime areas definitely has more traffic flow. Gurney area super condo also noisy+ jam, do u see price drop?

  108. Nana
    June 20th, 2014 at 15:15 | #108

    by the way, the light area properties pricing are not as high as PWC, one key reason is the development still on going, let see what is the price will be after everything complete in few yrs time.

  109. Hamik
    June 20th, 2014 at 16:09 | #109

    @Yy
    Which block did you booked and how much?

  110. bella
    June 20th, 2014 at 16:22 | #110

    @Strawberry

    Maintenance fees are more or less the same nowadays. Plus, condo size is small nowadays, so 10senpsf difference doesn’t really make much difference.

    @Nana

    Price low at Light Linear due to on-going constructions? Then Tropicana Bay even worse, as you will be sandwiched by highway on the left, and construction site on the right. Furthermore, STP price affacted by on-going construction meh? Nope. The main reason for Light Linear price depression is the noise. But good for Yy, the man with serene heart. Hahahaha!!!

  111. serene heart
    June 23rd, 2014 at 11:08 | #111

    Call me serene heart now! No more Yy……………..What a nice title……….hahaha……….
    Penang r developing in all aspect……… not only in property field, tourism ,education, investment…. in a steady pace…..probably is decelerate now….not slow down ..in the pace that a lot of people would like it to be……but we r not very sure , when all the townships r completed…….what will be the level of Penang then?…….. in the eye of Penagites………… in the eyes of Singaporean or Hong Kist or Chinese………..How they look at Penang………….cheers Penagites.

  112. Nana
    June 23rd, 2014 at 11:21 | #112

    @bella
    I said development still on going, commercial hubs, shopping mall, hotel are still yet to be developed. Road access is inconvenient at this stage, infrastructure is still on going. when talk about noise, tanjung tokong area, gurney area, even villa emas/putra place all these condos are noisy, but the price still at premium.

  113. Gaga
    June 23rd, 2014 at 12:55 | #113

    @Nana

    Here’s some facts :-

    (1) Noise is measured in dB. The “loudness” of a sound doubles roughly every 10 decibels, meaning 80dB is 2 times as loud as 70dB. 90dB is 4 times as loud as 70dB.
    (2) Studies have shown that hearing loss is usually the result of continual exposure to volumes over 80 decibels.
    (3) Data for Light Linear 15th Floor lift lobby – 82dB, House entrance – 84dB, Living room with main door open – 82dB, with door closed – 78dB
    (4) Data for Silverton 7th Floor lift lobby – 50dB, House entrance – 48dB, Living room with main door open – 46dB, with door closed – 45dB (cut out the noise of birds chirping)

    The main reason for the difference :-
    (1) Truck at 70km/h at 100ft away – 84dB (highway area)
    (2) Truck with container trail at 70km/h at 100ft away – 90dB (highway area)
    (3) Passenger car at 95km/h at 100ft away – 78db (highway area)
    (4) Passenger car at 40km/h at 100ft away – 58db (gurney area)

    Guess what you’re gonna get for Tropicana Bay?

  114. Nana
    June 23rd, 2014 at 15:09 | #114

    @Gaga
    Maybe u can recommend which project that can meet your expectation in island??? no jam; no noise..

  115. Nana
    June 23rd, 2014 at 15:22 | #115

    I do agree with other postings that now is not a good time to flip. If affordable, and meant for own stay or long term investment, just buy if u like it. If do not have holding power and sell with loss, then u deserve it; “goreng” = high gain high risk..just suck it up.

  116. cl
    June 23rd, 2014 at 16:11 | #116

    Queensbay area property price still got potential hike..such as Villa Emas, Putra Place, Gold coast. Rental is good price as well.

  117. Gaga
    June 23rd, 2014 at 16:19 | #117

    Hi Nana,

    I commented in respond to the statement you made …”..when talk about noise, tanjung tokong area, gurney area, even villa emas/putra place all these condos are noisy, but the price still at premium….”.

    I just wanted to highlight the noise right beside a highway is TOTALLY a different thing than usual noise. In fact, a little bit of noise around is good, the sound of birds chirping or wave are therapeutic. But excessive noise at above 80dB will be bad for your health.

    You then might ask where in Penang can you find homes with surrounding noise level below 60dB. Plenty! As long as it’s not next to the highway.

  118. serene heart
    June 25th, 2014 at 12:08 | #118

    @Hamik
    It s block E. The highest level, 22nd floor. The original price is 844k .But after -8%-5% discount. ,it costs 738k. It s very much higher than the price it lunched last year.

  119. Hamik
    June 25th, 2014 at 12:43 | #119

    @serene heart
    What is the size of your unit?

  120. tomyam
    June 25th, 2014 at 22:44 | #120

    @serene heart

    you need to pay the progressing interest fee during the development right?

  121. tomyam
    June 26th, 2014 at 11:16 | #121

    http://www.thestar.com.my/Business/Business-News/2014/06/24/Ivory-plans-RM14bil-projects-Group-to-develop-80acre-land-bank-in-Penang-over-the-next-couple-of-yea/

    Next phase going to launch!


    On Tropicana Ivory Sdn Bhd, a joint-venture company between Ivory and Tropicana Corp Bhd, Low said it would roll out Phase 3A of the Penang WorldCity development by the end of the year, following the success of Phase 1A.

    “We manage to achieve over 90% sales for Phase 1A, so we’ve decided to release the next phase to cater to the increasing market demand,” he said.

  122. ganesan
    June 26th, 2014 at 12:40 | #122

    my god, so those units in the current phase will be loosing their seaview sooner than I thought.

  123. Ricky
    June 26th, 2014 at 13:51 | #123

    @ganesan
    That is known since day 1…
    for unblock seaview should consider property like the loft by mahsing la…
    But the quantum is like…doubled? Worth it for seaview meh?
    Probably you spend 50% of the time watching tv instead of looking at the sea..

  124. Ricky
    June 26th, 2014 at 13:53 | #124

    @tomyam
    Any idea what is phase 3A?

  125. ganesan
    June 26th, 2014 at 14:33 | #125

    @Ricky

    You mean the price is double for MahSing’s Loft? Oh, no wonder the sales is so slow.

    Well, for the price you are paying for Tropicana Bay, you can easily get seaview condos in some other projects, except for the Loft.

  126. gor
    June 26th, 2014 at 15:01 | #126

    @ganesan
    2 different categories:

    1) Seafront developments. Such as The Light, World City, STP, and the loft. Not necessary all units will have seaview, but the perk is the sea is just next to the door step or within walking distance within the precinct. These are mainly integrated project and upmarket development.

    2) Units with seaview. Yes, these are easily found around both island and Penang, old property especially such as those in BF and Tanjung bungah.

    Best of course is to get a seaview unit within the seafront development, if you cant have the best of both world, then either one would be just nice. Those buying property in penang, be it penangite or foreigners, just have a strong taste in seaview.

  127. tomyam
    June 26th, 2014 at 15:57 | #127

    @Ricky

    No idea yet… just newspaper info only.

  128. tomyam
    June 29th, 2014 at 11:32 | #128

    for those taking housing loan from maybank, can open another account call PMA, once the loan start paying out, the loan amt will convert into point and we can have extra point to exchange some gift..
    as long as maintain min 1k in the account, no any charges or maintenance fees need to give, this card allows you got priority lane in maybank which no need to queue up that long.

  129. tomyam
    July 1st, 2014 at 07:30 | #129

    New for phase 3A.

    473 unit of luxurious condo – from 771 to 1403 sf
    159 unit of affortable house – 450 to 650 sf (erm… this is their definition of affortable house, but still not too bad if can get the 650 sf one)

  130. tomyam
    July 1st, 2014 at 07:31 | #130

    News for phase 3A.

    473 unit of luxurious condo – from 771 to 1403 sf
    159 unit of affortable house – 450 to 650 sf (erm… this is their definition of affortable house, but still not too bad if can get the 650 sf one)

  131. islander_ori
    July 1st, 2014 at 12:02 | #131

    @tomyam
    Already announced? How about the price?

  132. joe
    July 1st, 2014 at 13:15 | #132

    I guess minimum 1k PSF…..

  133. Pete
    July 1st, 2014 at 13:43 | #133

    @tomyam

    Exactly how many units in total for TBR? Phase 3A alone already >600 units?

  134. tomyam
    July 2nd, 2014 at 08:14 | #134

    @islander_ori

    News publish on few website http://www.nst.com.my/node/5697

    only reveal information like below
    On another matter, Low said Tropicana Ivory Sdn Bhd — a joint-venture company set up be-
    tween Ivory and Tropicana Corporation Bhd which has been set up to oversee the Penang WorldCity development — will be rolling out Phase 3A of the development by the end of the year following overwhelming success of Phase 1A sales.

    “We managed to achieve
    over 90 per cent sales for
    Phase 1A, so we have decided to release the next phase to cater to increasing demand,” he said, adding that Phase 3A will com-prise 473 luxury condomi-
    niums ranging from 771 sq ft to 1,403 sq ft and 159 affordable
    units measuring between 450 sq ft and 650 sq ft.

  135. tomyam
    July 2nd, 2014 at 08:20 | #135

    @Pete

    I dunno where is phase 3A. It might not be part of TBR as TBR is consider as Phase 1A.
    PWC is a huge master plan with different phase.
    i think 473 + 159 requires at least 2 block. TBR seems only left Block F(if got block F like their picture show previously). So very high chance it is on another piece of land plot.

    Previously another developer Aspen have lots of affortable house going to build in tanjung bunga area, yesterday only saw ivory holding Aspen 49% of share. Seems like now all developer have some sort of join venture.

  136. islander_ori
    July 10th, 2014 at 22:58 | #136

    Work starts on TNB site….

  137. Bruce
    July 11th, 2014 at 04:10 | #137

    But piling never start.

  138. islander_ori
    July 11th, 2014 at 08:27 | #138

    waiting…

  139. gerard
    July 11th, 2014 at 13:43 | #139

    The office said some time in Oct.

  140. cm
    cm
    July 12th, 2014 at 14:44 | #140

    Should we keep track record for the Work Progress …

    This good for future claim …..

  141. Dennis
    July 17th, 2014 at 00:20 | #141

    Don’t think they will want to spoil their images by being late especially this is 1st part of a mega project. I would rather see they do a good quality job to give peace of mind to all buyers.

  142. yahoo
    yahoo
    July 23rd, 2014 at 13:07 | #142

    office people say piling from june to july and now to Oct?
    just wonder why is already more than 9months since the 1st stamped SnP and work not yet started? dunno what they waiting for. Maybe need to wait TNB building complete and can power to start piling???

  143. Sam
    July 23rd, 2014 at 13:46 | #143

    No complain, the longer the better, price hike more. Just worried the build quality if they rush at the very last min.

  144. cm
    cm
    July 23rd, 2014 at 23:19 | #144

    Sam :
    No complain, the longer the better, price hike more. Just worried the build quality if they rush at the very last min.

    Not need worry lo … They got 4 YEAR to waste … Normally From start Piling Work Until Completed just need 2 year only ..
    They already got extra time to IMPROVE their QC …

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