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

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Contributed by reader (Update – 02 Oct 2013)

 


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  1. Tropicana Flat
    October 9th, 2014 at 14:22 | #1

    PPT :
    @islander_ori
    415 sqft is the size of my master bedroom toilet.

    Hahaha……haha………..a condo or a flat ?

  2. sheana
    October 9th, 2014 at 14:48 | #2

    so ??? what ? why so sacastic???

  3. Tropicana Flat
    October 9th, 2014 at 15:54 | #3

    sheana :
    so ??? what ? why so sacastic???

    You called it sarcastic ? It’s a pigeon hole in disguise to misled buyers !!!!!

  4. islander_ori
    October 16th, 2014 at 20:51 | #4

    Buyers, have you pay the fee for State Authority Consent to Transfer?
    Need to pay for SPA or loan agreement? or both?

  5. jenn
    jenn
    October 22nd, 2014 at 16:51 | #5

    I’m going to let go of my unit, block e 6th floor no8. 875sqf

  6. virginia1114
    virginia1114
    October 24th, 2014 at 14:07 | #6

    @jenn
    how much u want let go ?

  7. cm
    cm
    October 25th, 2014 at 15:17 | #7

    i saw the Test Pile will completed soon .. all the piling frame is ready there …

  8. tomyam
    October 29th, 2014 at 14:41 | #8

    @islander_ori

    I only pay 1 time, they include in the loan lawyer charges there.
    ** I wonder if buyer cash buy the unit and not take any loan, is it means no need to pay anything?

  9. tomyam
    October 29th, 2014 at 14:42 | #9

    @cm

    Nowadays the pilling phase is not making noise ya? Pass through few times cannot hear POM POM sound already.

  10. cm
    cm
    October 29th, 2014 at 20:28 | #10

    Look like this project use injection method … don’t have any sound (Minor only) … But more expensive and more Accurate…

  11. jess
    November 10th, 2014 at 13:52 | #11

    yeah, i stay nearby. don hear any loud noise on piling at all. :)

  12. Bryant
    November 11th, 2014 at 12:56 | #12

    How is it going guys? I havent been to the site for a long time…Any latest updates?

  13. tomyam
    November 14th, 2014 at 07:45 | #13

    Dun think much progress yet..
    Not see much worker in there yet.

  14. Bryant
    November 14th, 2014 at 14:41 | #14

    Its already 12 months since we got our stamped S&P right? countdown to the next 36months for completion. If not, compensation!!!

  15. Hello
    November 14th, 2014 at 16:48 | #15

    The slower, the better since the market slow down now.
    No rush.

  16. cm
    cm
    November 18th, 2014 at 17:54 | #16

    Hope can .. 慢工出细货。。。

  17. Gel
    November 19th, 2014 at 19:49 | #17

    How much u letting go ?
    @jenn

  18. Sanlk
    November 19th, 2014 at 23:05 | #18

    @cm

    Ivory always very slow.

  19. TSP
    TSP
    November 21st, 2014 at 11:27 | #19

    Intend to let go my unit, paid 5K booking fee. Block E mid/high floor 872sqft facing pool.

  20. tomyam
    November 24th, 2014 at 15:35 | #20

    @TSP

    you just book recently? else how come Ivory is not chase after you for subsequent process like SNP singing and loan agreement?

    does they allow to transfer unit? last time they told me not allow ee..

  21. Ccs
    November 24th, 2014 at 23:20 | #21

    How much tsp?

  22. TSP
    TSP
    November 25th, 2014 at 00:49 | #22

    @Ccs, i bought it on last Sept. You may email me eric66tan@yahoo.co.uk if interested. Just want to get back the booking fee.

  23. gerard
    December 15th, 2014 at 13:33 | #23

    reclaimation of land will start once approval is obtained. Condos, iconic office, entertainment centre, hotel, medical centre and international school will be built according to report by theEdge daily today.

  24. LeeKK
    December 15th, 2014 at 16:14 | #24

    gerard :reclaimation of land will start once approval is obtained. Condos, iconic office, entertainment centre, hotel, medical centre and international school will be built according to report by theEdge daily today.

    Who will build it, Ivory or Tropicana. Don’t think they can do it as the market is too slow now.

  25. gerard
    December 16th, 2014 at 16:42 | #25

    @LeeKK
    Both. JV mah!

  26. Aha ong
    December 30th, 2014 at 21:34 | #26

    any status and progress updates on site? And how’s the sales going on? Any new promotions? Etc

  27. Calyn
    December 31st, 2014 at 09:43 | #27

    Bought 615sf. You may email me mycherrytrading@hotmail.com if interested.

  28. islander_ori
    December 31st, 2014 at 18:11 | #28

    @Calyn
    Bought recently?

  29. Jeff
    December 31st, 2014 at 21:08 | #29

    Anyone know how much per sqf?

  30. SK
    January 1st, 2015 at 23:47 | #30

    933.36/sqf for 615sqf

  31. SK
    January 2nd, 2015 at 10:45 | #31

    Anyone would like to let go unit with 615sf, please let me know via email skmart4u@gmail.com

  32. islander_ori
    January 2nd, 2015 at 20:54 | #32

    @SK
    which floor?

  33. islander_ori
    January 2nd, 2015 at 20:55 | #33

    Jeff :
    Anyone know how much per sqf?

    which floor?

  34. islander_ori
    January 2nd, 2015 at 20:56 | #34

    SK :
    933.36/sqf for 615sqf

    which floor?

  35. SK
    January 2nd, 2015 at 23:02 | #35

    @islander_ori
    16 floor

  36. SK
    January 3rd, 2015 at 18:23 | #36

    @Hello 615
    You still have the unit with 615sqf with price 610k?
    I am interested, please contact me at 0124683680

  37. islander_ori
    January 4th, 2015 at 23:02 | #37

    @SK
    What is the developer’s price now?

  38. SK
    January 5th, 2015 at 11:36 | #38

    More than 680k and no good view and afternoon sun

  39. tomyam
    January 5th, 2015 at 13:00 | #39

    @SK

    Did they still have unit with 872 sf left? I think generally the smaller sf unit per sf is very high.

  40. SK
    January 5th, 2015 at 13:05 | #40

    Yes. Still have i believe but not to my budget.

  41. andy
    January 5th, 2015 at 14:36 | #41

    @SK

    615sf BLK C still have 14th 1 unit only.if u want faster.
    662k 8% discount = 610k.

  42. islander_ori
    January 7th, 2015 at 00:15 | #42

    andy :
    @SK
    615sf BLK C still have 14th 1 unit only.if u want faster.
    662k 8% discount = 610k.

    Facing west right?

  43. ANDY
    January 7th, 2015 at 10:46 | #43

    BLK C 615SF 2 TYPE ONLY , facing NORTH OR SOUTH

  44. YL
    January 7th, 2015 at 21:36 | #44

    I have 615sqf to let go. Block C 16 floor, no afternoon sun
    Just want to get back 5k booking fees, anyone interested, please contact me

  45. YL
    January 7th, 2015 at 21:40 | #45

    This is YL for the posting above 16 floor block C. Please email mycherrytrading@hotmail.com if anyone interested. After rebate the price is around 575k

  46. tomyam
    January 12th, 2015 at 16:19 | #46

    http://www.ivory.com.my/our_projects_files/Tropicana_BayResidences.html

    This page have show 1 picture for latest site progress.. I notice the min selling price is 200k.. dunno who is the lucky one who get this price.

    Tenure of Land: Freehold. Expected Date of Completion: September 2017. Selling Price: RM200,000 (Min) – RM1,721,125 (Max), RM956,125 (Std)

  47. ANDY
    January 14th, 2015 at 09:59 | #47

    I think is Block F sale RM200k……

  48. mahsing
    January 14th, 2015 at 10:56 | #48

    not possible RM200k for block F which is going to launch in Feb.

  49. islander_ori
    January 14th, 2015 at 14:46 | #49

    @ANDY
    Flat?

  50. cm
    cm
    January 14th, 2015 at 20:09 | #50

    BLOK F will be same range with BLOK A,B,C,D,E which inform by Sale Person. Don’t know is correct information not. No more Medium cost at this area. Change to another Place. Feb 2015 will know ……

  51. sam
    January 19th, 2015 at 11:25 | #51

    Since this is going to be million dollar condo, can they build something timeless…is bayswater a good benchmark to beat???

  52. Lucky
    February 1st, 2015 at 00:16 | #52

    @islander_ori
    Says there 6 blocks of luxury condominiums, so not flat.. :)

  53. islander_ori
    February 3rd, 2015 at 22:43 | #53

    Saw banner on the street said last block is being released.
    Is it Block F?

  54. tomyam
    February 4th, 2015 at 16:45 | #54

    Officially preview of final tower is available in sales gallery on 7 February (Saturday)…
    11am to 6pm..

  55. joe
    February 4th, 2015 at 20:27 | #55

    800k onwards?……how is their block-E sales….still soften ?

  56. Bryant
    February 6th, 2015 at 13:13 | #56

    So I received e-mail about the launch tmr for the final block on TBR. I wonder how much and what kind of unit size will be sold. Any idea anyone?

    At least good thing no affordable nor flat within the same perimeter.

  57. blkF
    February 6th, 2015 at 17:34 | #57

    Smallest 400sf and biggest 800sf. As advertised 400sf cheapest 454k less 10% + 5% + 1.5%. Net from about 380k. Semifurnish. Seem lower psf than 455 studio.

  58. koo
    February 6th, 2015 at 22:48 | #58

    @blkF

    Those bought previously will regret. Anyway, the lower price doesn’t guarantee sales nowadays.

  59. islander_ori
    February 6th, 2015 at 23:14 | #59

    Let’s see what happens tomorrow?

  60. Lol
    February 7th, 2015 at 07:01 | #60

    Rm380k for 400sft is still expensive. I bought my 455sft studio unit for rm340k after discount.

  61. Adam Khoo
    February 7th, 2015 at 10:58 | #61

    It’s time to go out there and make money guys. All the best!

  62. islander_ori
    February 7th, 2015 at 12:06 | #62

    Went to the sale office. Saw only 1 couple is asking for the info.
    Overall, it is not cheaper than previous blocks.

  63. joe
    February 7th, 2015 at 15:58 | #63

    whole block is studios and 1+1 bedroom….not cheap though….

    got rental market for studios/ 1+1 in these area?

    The Light Collection-2 studio also got no demand…

  64. rabacop
    February 7th, 2015 at 16:27 | #64

    @joe

    No real demand at all for these units from genuine home occupiers. You can only sell this type of crap to speculators. This is small town Penang, not the Big Apple New York.

    And in the meantime, Ivory (the company who cooked up the whole Penang World City bullsh*t) is planning it’s exit from Penang, while Tropicana is owing creditors too much money.

    God bless Penang World City.

  65. Lam
    February 7th, 2015 at 17:31 | #65

    It’s obviously better value for 400 sqft. Price around 380k, semi furnished, better layout. Much much better than the 450 sqft previously launched.

  66. KPop
    February 7th, 2015 at 19:04 | #66

    rabacop :@joe
    No real demand at all for these units from genuine home occupiers. You can only sell this type of crap to speculators. This is small town Penang, not the Big Apple New York.
    And in the meantime, Ivory (the company who cooked up the whole Penang World City bullsh*t) is planning it’s exit from Penang, while Tropicana is owing creditors too much money.
    God bless Penang World City.

    Never mind laa …. Tropicana boss punya brother have a lot of cash ….

  67. andy
    February 7th, 2015 at 20:42 | #67

    who know this block f , 2 bed room prices and s.f ?

  68. Lol
    February 7th, 2015 at 21:20 | #68

    @Lam
    The 455sft studio unit has a kitchen. So it’s semi furnished as well. Nevertheless, the extra rm40k for a smaller unit of 400sft is certainly not worth it. I am not sure how you see it as better because investment wise it is certainly not logical. Besides, it doesn’t take much to Reno a 400 or 455sft. So the extra money paid for a smaller unit is certainly not worth it.

  69. tomyam
    February 7th, 2015 at 22:28 | #69

    back from the sales office.. seems the 800 sf unit sticker up more ..
    400 /500 sf still lots to choose..
    Price before discount
    400 sf (lowest from 453900 to max 485900)
    550 sf (lowest from 604900 to max 636900)
    800 sf (lowest can’t see as sticker up to max 847000)

    380k for 400k plus semi furnish with kitchen .. I think is ok la.. coz not much people can catch the first block A/B deal.
    Just that this is really for super small family, either single, new married couple. Not for family.

  70. tomyam
    February 7th, 2015 at 22:29 | #70

    @Lol

    Previous 455 sf got semi furnish keh?

  71. Pwc
    February 7th, 2015 at 22:50 | #71

    The 400sf at blk F has better layout than 455sf, and face east and neighbouring asiagreen facilities vs west and hiway for 455sf. But psf is high though. Total 68 units of 400sf

  72. Sk
    February 7th, 2015 at 23:10 | #72

    i rather choose imperial residences at relau 1100sf for 5++k with 4 car parks

  73. LOL
    February 7th, 2015 at 23:28 | #73

    So small…how to live…@.@

  74. joe
    February 7th, 2015 at 23:49 | #74

    tomyam :@Lol
    Previous 455 sf got semi furnish keh?

    455sf where got semi furnish lar…previous block A B C D E all non-furnish….

  75. ricky
    February 8th, 2015 at 00:30 | #75

    80% of the 800sf units were block purchased by insider at RM580/sf.

  76. kok
    February 8th, 2015 at 11:54 | #76

    @ricky

    Typical Ivory style. The question is why not 100% block purchased?

  77. islander_ori
    February 8th, 2015 at 11:59 | #77

    Any buyer for Block F?

  78. joe
    February 8th, 2015 at 12:25 | #78

    wow……800sft unit sell to insider for rm580psf, but yesterday sell to public to rm870psf (after all discounts)……a massive rm290psf earning!!

    really easy money for insider @.@

  79. lol
    February 8th, 2015 at 13:18 | #79

    380k buy a hotel room + interest during construction + interest pay to bank, stay at hotel everyday much cheaper:-D

  80. Dennis
    February 8th, 2015 at 19:34 | #80

    I wonder if LRT will stop by Bayan Mutiara or Isetan, cold storage, will be here?
    I heard about Tangs name mentioned though.

  81. Dennis
    February 8th, 2015 at 19:36 | #81

    @joe
    Sure? It’s quite a big discount to 30%, much bigger than typical 10% staff disc.

  82. islander_ori
    February 8th, 2015 at 21:20 | #82

    @joe
    Every developer will do the same thing.
    This is so called “Kang Tau”.

  83. kutu
    February 8th, 2015 at 22:11 | #83

    Whether “kang Tau”or nor, it depends on timing. But the main purpose of doing so is to get the bank providing the bridging loan for the project to release money to developer. The banker for the project releases money based on the % units sold to manage risk. Without the money, developer might have problem paying contractors and suppliers, unless it is super cash rich, which probably is not the case here.

  84. kok
    February 9th, 2015 at 09:43 | #84

    Seems like the profit of this condo project is still very high since they can give such high discount. Don’t know why most developers still claim that the cost is too high for new projects.

  85. kutu
    February 9th, 2015 at 10:50 | #85

    @kok

    Ah boh then, what do you expect them to say?

  86. KS
    February 9th, 2015 at 12:36 | #86

    Sk :
    i rather choose imperial residences at relau 1100sf for 5++k with 4 car parks

    U seemed lost. You are at the wrong page. Choose imperial residence from the list of property on the right side.

  87. KS
    February 9th, 2015 at 12:43 | #87

    Lol :
    Rm380k for 400sft is still expensive. I bought my 455sft studio unit for rm340k after discount.

    Dude, i thought u work for asia green? Y didnt u bought asia green property since u said the view of TBR will b blocked by QWR?

  88. tomyam
    February 9th, 2015 at 13:37 | #88

    @joe

    I am referring to the previous @Lol post.

    He say
    “The 455sft studio unit has a kitchen. So it’s semi furnished as well. “

  89. joe
    February 9th, 2015 at 14:15 | #89

    @tomyam

    Yes I know, I am replying to Lol’s statement also :)

    anyone bought the 400/550/800sft units? minds to share why u purchase it? own-stay / investment?

  90. goh
    February 10th, 2015 at 08:36 | #90

    I bought 400sf, for own stay when outstation and holiday.

  91. chun
    February 10th, 2015 at 09:54 | #91

    @goh

    Do you realize that with the RM350k that you pay for this shoebox unit, you can stay at a 5-star hotel in penang 30 days every year for 30 years? And over that 30 years, you can stay at all the different hotels, new hotels at prime locations. Whereas if you buy an apartment for holidays, you’d have to stay in the same apartment over and over again over the 30-year period. Worst still, by the 10th year, your apartment is already almost old. And if you think you can sell it later if you get tired with it, please think again. No one is going to buy an old shoebox apartment from you.

  92. pwc
    February 10th, 2015 at 11:18 | #92

    @chun,
    You have valid points. I told my friends the same when my friends bought studios at Light collection few years back but now…

  93. chun
    February 10th, 2015 at 11:28 | #93

    @pwc

    Yes i know, most buyers who bought The Light have big regrets. Apart from the dust caused by highway and the never ending construction around it, it seems to be far away from everywhere. It’s neither near to the heritage area, nor the famous scenic batu feringgi coast line. That probably explains why most units are vacant,even during the holiday periods.

  94. Stella
    February 10th, 2015 at 13:28 | #94

    Wow, for an instance, I was about to cancel my 455sq ft bought at RM310K after long Q/fights in Penang Times Square. Chun, you are good. Really. Compare with 5 star hotel rate, etc etc.

    But, wait a minute. I am also the first owner of D-Piazza Condo. Bought from developer.
    Early price was RM240K for a 1300sq ft. At that time, more idiots like you, Chun with all sort sour grapes comments, every thing is not right, even location at Bayan Baru also they were capable of producing negative comments…….Simply stupid to buy D-Piazza Condo
    And now, if I were to let go my D-Piazza Condo which was rented out from OC until now-I earned RM400K cash profits. Nett.

  95. pwc
    February 10th, 2015 at 14:06 | #95

    @chun,
    I meant the other way..those who bought Light Col2 studios did very well.
    @stella
    310k was which floor? You got a great deal

  96. Penang
    February 10th, 2015 at 14:53 | #96

    @Stella

    Comparing a 1300sq ft. for RM 240K to a 455 sq. ft. “pigeon hole” for
    RM310K ? You must be nut !!!! This time around your investment is
    doomed.
    .

  97. tomyam
    February 10th, 2015 at 15:55 | #97

    @Stella

    so lucky to get the 310k…. I am there too late!

  98. moo
    February 10th, 2015 at 15:58 | #98

    gotta take forever to build!
    they are acting only

  99. HelloBayResidence
    February 10th, 2015 at 16:09 | #99

    moo :gotta take forever to build!they are acting only

    I don’t mind they take longer to build, the later, the better.
    If exceeded 3-4 yrs, I will get a big any pow from them. I think Berjaya’s boss borther would run away from this projects.
    Heard both Tropicana & Ivory also don’t focus on PWC …. not a good sign for us.

  100. chun
    February 10th, 2015 at 17:50 | #100

    @Stella

    Actually it doesn’t take a genius to figure out that 5-star thingy, all you need is common sense and basic maths. But it was very brave of you to admit that it was something really worth noting. However, maybe next time you should not use your sour grapes accusation so early because people normally do that towards the end of an argument when they run out of sensible facts to reason.

    Buying a condo for vacation is like paying for your hotel room stays 30-years in advance.

    I would draw a parallel between this and time-sharing vacation membership, Leisure Holidays. Not sure if you are old enough to have heard of it, but it was “sold” as a good “investment” during the 80s.

    You pay a one big lump sum to purchase the membership that can be resold later at a profit, while enabling you to stay at affiliated hotels all around the world for free when you’re a member.

    It was a popular investment scheme during the late 80s. But today, most of these affiliated properties are so old and run down that you wouldn’t want to stay there even it’s free. Making a profit for selling your membership? Dream on! Oh by the way, Leisure Holidays was a Berjaya product. Hehe.

    With the invention of internet hotel bookings, hotel rates have never been cheaper and making a reservation has never been easier.

  101. Mike
    February 11th, 2015 at 11:39 | #101

    Chun, after 30 years, you can pass the hotel room to your grandchildren or not?
    Like that, you can rent house forever la. No need to buy la as you can change your house every 2 years. What an idiot pretending to be smart

  102. Mike
    February 11th, 2015 at 11:42 | #102

    Stella, i was there during soft launch.
    I believe you are the first group, already there from 5.30am, as i was told by one of your group members. Good for you to grab the limited edition 455sq ft at low price.

    Your D-Piazza condo purchase also a good investment decision which comes once in a life time.

  103. LS
    February 25th, 2015 at 11:19 | #103

    Anyone know latest price for 605sqf unit?

  104. Annon
    March 1st, 2015 at 22:11 | #104

    Went to Gurney Plaza roadshow today, The sales person only emphasize on the ROI and so rush to close the sales. Ignored many question i asked and i walked away eventually…

  105. decco866
    decco866
    March 14th, 2015 at 00:09 | #105

    i also have 1 unit at block d lower floor with garden unit…

  106. Joe
    March 15th, 2015 at 12:27 | #106

    Received email from Tropicana Ivory that foundation completed.
    First 10% of loan to be disburse.

    But i was wondering, for disbursement after april, will gst be imposed?

  107. islander_ori
    March 16th, 2015 at 14:27 | #107

    @Joe
    When do you receive the email?
    Your loan documentation completed?
    Need to call the lawyer for loan.

  108. doggy
    March 16th, 2015 at 14:39 | #108

    @islander_ori

    when did u purchase? how come so long time never did your loan agreement signing, although the foundation already completed ?

  109. tomyam
    March 16th, 2015 at 14:53 | #109

    @Joe

    wow.. so fast?
    with this speed, will it be possible before is ready earlier 2017 or even 2016?
    oh no.. my cash printer ink not enough yet.. must fast fast and continue to print to catch up the speed.

  110. Joe
    March 16th, 2015 at 22:58 | #110

    @islander_ori
    I got the email on last friday. I think my loan thingy is ready. CTS should disburse the progressive payment when they receive the cert from Tropicana Ivory.

    @tomyam
    I hope above 48months. Im not in the rush at all.

  111. islander_ori
    March 17th, 2015 at 07:51 | #111

    @doggy
    I bought end of 2013 and signed the loan documents last year.
    It is pending for the state consent letter from developer according to the lawyer (not CTS).
    How about yours?

  112. islander_ori
    March 17th, 2015 at 07:54 | #112

    @Joe
    Have you check the status of loan agreement with CTS?

  113. tomyam
    March 17th, 2015 at 08:27 | #113

    @Joe

    Original have the same thinking like you as I am even in DIBS scheme. No payment until project ready. But the best should be project on track, not too fast and not too slow. Fast $$ not yet print out all yet, slow we might have other worries like project abandoned if there is any economy crisis. So on track is the best.

  114. Joe
    March 17th, 2015 at 16:29 | #114

    @islander_ori
    Will check tomorrow.
    But through my experience, lawyer only work on this loan topic when developer start asking for money. So should be ok.

    @tomyam
    Yes sir. Left 30months to completion!

  115. Joe
    March 17th, 2015 at 16:31 | #115

    But one thing about DIBS, so how does it work for this project? we pay first then claim? any idea?

  116. Picnic
    March 18th, 2015 at 23:31 | #116

    No need

    Joe :
    But one thing about DIBS, so how does it work for this project? we pay first then claim? any idea?

    No need to do anything on your side.

  117. Alex
    March 19th, 2015 at 11:05 | #117

    You still have to serve interest for MRTA and lawyer fees if all included in the loan package. DIBS will not cover that. It will start when first disbursement done by bank to developer. I received a call from bank today.

  118. Joe
    March 19th, 2015 at 12:55 | #118

    Checked with CTS and tropicana as well. No actions needed from my side.

  119. sam
    March 19th, 2015 at 14:52 | #119

    Alex :
    You still have to serve interest for MRTA and lawyer fees if all included in the loan package. DIBS will not cover that. It will start when first disbursement done by bank to developer. I received a call from bank today.

    I think you are right. DIBS may not include interest for MRTA and lawyer fees. Best to check and confirm with Tropicana to see if they bear it.

  120. islander_ori
    March 21st, 2015 at 10:17 | #120

    Received letter from developer that request 10% from banker. Due date 15-Apr.

  121. tomyam
    March 22nd, 2015 at 15:29 | #121

    @islander_ori

    me too. Do you think we need to do anything just to ensure bank pay on time?
    I saw there is a statement is late will kena 10% (annual rate)of the amt .

  122. islander_ori
    March 22nd, 2015 at 16:27 | #122

    @tomyam
    We need to confirm with the lawyer to ensure the loan documentation is completed and call the banker.

  123. ko
    March 22nd, 2015 at 17:06 | #123

    just need to ensure lawyer do their work in time.

    Just curious, does anybody know if lawyer made a mistake and didnt get the bank to disburse the fund in time, can we seek compensation from the lawyer?

  124. cm
    cm
    March 22nd, 2015 at 23:31 | #124

    i received the Mail From Tropicana Ivory Sdn Bhd…

    Just request 0.07% for the Work Below Ground….

    Any person get the same amount ??

  125. islander_ori
    March 23rd, 2015 at 08:07 | #125

    @cm
    Your loan is less than 90%?

  126. tomyam
    March 23rd, 2015 at 09:59 | #126

    @islander_ori

    try to call the lawyer firm.. they say generally all should be ok.
    but I did tell them to call me and verify again when maybank pay it. (just gv them my unit number)..

    **first time buy house.. feel no visibility on those payment stuff.. worry .. haha
    wish maybank pay on time.

  127. tomyam
    March 23rd, 2015 at 10:15 | #127

    @islander_ori

    CTS say their letter will be out to Maybank this 2 days.

  128. cm
    cm
    March 23rd, 2015 at 19:41 | #128

    islander_ori :
    @cm
    Your loan is less than 90%?

    my Loan 90% ++ ….

  129. tomyam
    March 30th, 2015 at 11:25 | #129

    I can see bank loan account. 10% already disburse.

  130. islander_ori
    April 3rd, 2015 at 08:12 | #130

    My loan documentation is processing still.
    Keep pushing the lawyer.

  131. tomyam
    April 8th, 2015 at 09:44 | #131

    @islander_ori

    Then really need to keep calling them to avoid any late charges issue.

  132. tomyam
    April 11th, 2015 at 20:02 | #132

    hi all,

    can someone help me understand how the DIBS interest pay by developer?
    is it they will help to clear the interest every month or they will one time off clear the interest when reach certain stage?
    coz I receive maybank letter indicate the interest charge for the first 10% disbursement already.. so I wonder in actual when developer will pay

  133. islander_ori
    April 14th, 2015 at 19:54 | #133

    Finally, 10% disbursement has been released by Maybank.

  134. islander_ori
    April 16th, 2015 at 07:54 | #134

    @tomyam
    I saw RTA PREMIUM DEBIT in my MBB loan account.
    Do you see this as well in your account?
    Shall we pay that amount?

  135. tomyam
    April 16th, 2015 at 10:02 | #135

    No. I dun see that. I only see this 2 transaction.
    Ivory should pay the item MONTHLY INTEREST. But until now did not see they pay yet. Yesterday I got call Ivory billing dept and they say they are in progress to made payment on it.
    Teoratically since we are in DIBS, we should not pay anything so that we can very clearly see which one is the interest charge.

    Btw, what is RTA stand for?

    MONTHLY INTEREST RMXX.XX (Interest of first month)
    ALLIANCE BANK BERHADTROPICANA IVORY SD RMXXXXX.XX (first 10% disbursement)

  136. islander_ori
    April 16th, 2015 at 14:46 | #136

    @tomyam
    I guess RTA refer to MRTA.
    Need to check.

  137. tomyam
    April 17th, 2015 at 11:18 | #137

    @islander_ori

    Oh.. you are putting MRTA into the loan? then it makes sense to pay if that is the case.

  138. tomyam
    April 17th, 2015 at 12:11 | #138

    @islander_ori

    Finally.. I saw the transaction, they have pay the interest. : )

  139. islander_ori
    April 17th, 2015 at 14:20 | #139

    @tomyam
    What is the description of the interest payment? By developer?

  140. tomyam
    April 17th, 2015 at 19:05 | #140

    @islander_ori

    MISC NON CASH CREDIT

    By the way, the show house unit for PWC is ready, I saw their facebook page is displaying all the picture for bedroom, kitchen, living room etc.

    This weekend, you are invited to the unveiling of the show unit for Tower F happening at Penang World City Sales Gallery.

    Each Tower F unit will be partly furnished for a comfortable and hassle-free investment! These irresistible offer are not to be missed!

    Do invite your friends and loved ones to the said event. The more the merrier. And refreshments will be served as well.

  141. islander_ori
    April 18th, 2015 at 12:56 | #141

    @tomyam
    Do you include MRTA into your loan?

  142. tomyam
    April 18th, 2015 at 21:55 | #142
  143. Joe
    April 29th, 2015 at 13:05 | #143

    Its been a long time since the launch of TBR and until now only A-F is open for sale.
    Have you guys heard of any other new launches with regards to this penang world city? Seems like pretty slow progress for the whole development.

  144. tbr
    April 29th, 2015 at 14:52 | #144

    @Joe
    Looking at the progress of the construction, it is running full steam now. If they can sustain the same speed, it should be no problem to complete within the next 3 years.

    As for the future development, especially commercial, it is still no news as of now. At least I heard that they are currently submitting plan to build another sales gallery, within the PWC precinct. To cater for what purpose is still unknown, but as there is already an existing grand sales office in place, this can indicate another development is coming up.

  145. tomyam
    April 29th, 2015 at 15:43 | #145

    @tbr

    Hmm… another sales gallery?
    might be for macam macam show house/unit purpose?

    Actually I wonder in future, what is the plan for sales gallery there? I like the seaview there so much.

  146. tbr
    April 29th, 2015 at 17:23 | #146

    I like the seaview at Asia Green’s sales office better (Jalan Ahmad Shah).

  147. tomyam
    April 30th, 2015 at 07:31 | #147

    @tbr

    Haha.. as long as seaview.. I also like..(may be due to never have one, so like it)
    but a lot of people tell me is not easy to maintain seaview unit…

  148. tomyam
    April 30th, 2015 at 07:37 | #148

    Just curious, for those who bought MRTA, can this use to deduct income tax at the insurance column?

  149. hc
    April 30th, 2015 at 07:51 | #149

    @tomyam

    MRTA can not be deducted for tax purpose.

  150. ktw
    April 30th, 2015 at 08:56 | #150

    Visited their sales gallery and show units last week. Around 50k price increase in Block F compared to the rest, but comes with kitchen cabinet, and appliances worth around 20k. Layout slightly better and most importantly, further away from the highway.

    Sales is not so good, less than 50% sold.

  151. The Light v PWC
    April 30th, 2015 at 15:18 | #151

    That why the entire Penang World City cannot fly ….. Tropicana Ivory the Joint Venture Company now force to cut the land pcs by pcs and sell it to small player, which will result with PWC may not be a very good town ship planning if compare to The Light & Sri Tanjung Pinang.
    Kind of disappointed

  152. deon
    April 30th, 2015 at 15:31 | #152

    The Light v PWC :That why the entire Penang World City cannot fly ….. Tropicana Ivory the Joint Venture Company now force to cut the land pcs by pcs and sell it to small player, which will result with PWC may not be a very good town ship planning if compare to The Light & Sri Tanjung Pinang.Kind of disappointed

    Ever since Tropicana Ivory sell the piece of seaview land (in front of TBR) to Asia Green, I already lost faith with PWC.

    Where got people sell a better piece of land to other player and let them block all the seaview ?
    Such a brainless decision, and they piss off their earlier buyer who hoping to see seaview.

    This PWC is destined to be a failure, just like their own Penang Times Square legend…

  153. tomyam
    April 30th, 2015 at 16:08 | #153

    @deon

    TBR buyer should know from day 1 we dun hv seaview unit. No matter it sells to Asia Green or Ivory build itself with block G, H, I , J there.
    All those block will also block A, B, C, D, E, F.

  154. Leehong
    April 30th, 2015 at 20:20 | #154

    Like that no gain for early birds…

  155. Fact
    April 30th, 2015 at 21:09 | #155

    @Leehong

    Early birds got early burns!!!!!!!!!!!!!!!

  156. cm
    cm
    May 4th, 2015 at 01:44 | #156

    Normally, now the condition same as 2008 …. got people like to buy and also got people like to comment … but, after 10 year … many people will say …. “Why i don’t buy last 10 year ago” …
    Like The Light & Sri Tanjung Pinang … At the FIRST blok sale … All people also say …WHO WANT TO BUY … SO EXPENSIVE ….. But, now ….. How ?? All people know it ….

    Buy or not buy … depend on the buyer holding power …. If we can Hold it with $$$ Problem … Anytime got GOOD location … always is GOOD timing to Buy in ….. For people always Prepared … Always is the Winner

  157. ko
    May 4th, 2015 at 02:50 | #157

    Hahaha cm, i like your comments

    Property is a long term investment, There will definitely be up and down times.. the best time to buy is when one can afford to buy and afford to hold.

  158. tomyam
    May 4th, 2015 at 11:23 | #158

    @ko

    Hmm agree..
    Holding power is important.
    And also get one when bank still willing to approved your loan. Nowadays, getting hard and hard to get bank approval. If bank does not approve the loan, then how good or how much you like the property also useless.

  159. Kung
    May 4th, 2015 at 12:07 | #159

    @tomyam
    I think PWC will become Penang Kampung City.. Ivory..i really worry.

  160. Joe
    May 4th, 2015 at 13:04 | #160

    @Kung
    Not Bad leh.. Penang Kampung City… imagine you get to live in nature surrounding yet having all the luxury you need. Perfect for both own stay and investment.

  161. tomyam
    May 19th, 2015 at 19:37 | #161

    please carefully check the interest amt charge by bank VS developer pay interest.
    I notice mine have some difference and is in the process of verification with bank. (developer ask me call bank myself >_< )

  162. Joe
    May 19th, 2015 at 20:25 | #162

    @tomyam
    What exactly happen?

  163. islander_ori
    May 19th, 2015 at 23:06 | #163

    My loan account was charged for monthly interest but developer still have not credit the interest payment.
    How about other buyers?

  164. tomyam
    May 20th, 2015 at 08:00 | #164

    @Joe

    Eg: Bank charge interest 100.50
    Developer pay 100
    So i saw there is a 50 cents gap there.

    Anyway, after calling each party, they already pay the 0.50 gap. I think we still need to monitor and if any issue, call them immediately. At least month by month is easy to trace.

  165. tomyam
    May 20th, 2015 at 08:03 | #165

    @islander_ori

    My account can see developer pay already. *Date yesterday 19 May.

  166. islander_ori
    May 23rd, 2015 at 08:53 | #166

    @tomyam
    developer has paid the interest after banker called them.

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