Waterside Residence 70% sold!
IJM Land Bhd, the property development arm of IJM Corp Bhd has seen 70% of its Waterside Residence at The Light in Penang taken up over its launch last weekend.
“Buyers at the new condominium are mainly locals and are capitalising on the strategic location and upcoming surrounding lifestyle amenities within walking distance.
“There were already strong enquiries for this project ahead of the official launch. It is a positive sign as genuine buyers are still looking for opportunities to invest.
“Property buyers remain discerning. We are confident that we will continue to see good demand given its right mix of attributes [strategic location, competitive pricing and amenities],” said IJM Land managing director Edward Chong in a statement.
The Waterside Residence is the first residential tower in The Light Waterfront Phase 2, with an estimated gross development value (GDV) of RM240 million.
The freehold project has three residential blocks of 17, 25 and 33 storeys, with 256 condominium units with built-ups ranging between 1,055 sq ft and 1,270 sq ft. Prices start from RM749,000.
Each unit comes with at least two parking bays while amenities include swimming pool, jacuzzi, gymnasium, reading room and storage lockers.
According to IJM Land, Waterside Residence will be slated for completion by 2020. Construction works will commence in mid-2017.
I am very happy to hear that there are still water fish in the market to support property prices. If they are willing to fork out RM700++/sf for this property in such a bad location, then the ones in good location should be going at least 25% above this price.
How bad is the location? Please clarify before I go to take up a unit.
Its not that bad a location lah . dont exaggerate
in penang…the light location consider very strategic n good. just feel funny on wtf comment.
I will buy E&O location the this. Rental yield is going to be bad. More for locals.
yup…location is good and the quality of design of this area is impressive.
those who say otherwise must be just talking despite not having been there
Amazing performance by IJM if really sold 70% with current bad market
Come on la, don play number games
They only have how many unit only, 70 % mean nothing la.
Some more you forgot IJM always have this internal purchase by employee, all are flipper.
Totally agree!
Im told that there are many repeated buyers for this project. This is testament of the IJM brand amongst its loyal followers .
IJM brand sucks already. So many units at the Lights kena sangkut, cannot rent out, this area is cursed.
The LIGHT Collection 3 and 4 a lot un-sold units!! Because the price is too high (unit size too big, PSF too high). Also the maintenance fee is too high (RM0.40-0.45 PSF, about >rm500 per month), not average joe can afford it.
This Waterside Residence is lower price, also less facility, less fancy fancy gimmick (sea corals lah, sea turtles lah, sea shark lah, nemo fish lah…) therefore the maintenance fee should be lower.
I would not be surprise this WR will sell well, for people wanted to stay at this glamorous THE LIGHT area but reluctant to pay expensive maintenance fee, they will choose this WR, or the older THE LIGHT LINEAR condo.
@LamKT
Glamorous??? Pui chau nua !!!! Only those sor chai will think this place is glamorous!!!! Hahaha!!
@Leong
Why pui chau nua ? Please share your experience, are you a buyer or staying there? Or just grape sour fella ?
Although got disadvantages, but The Light still an iconic piece of property for ‘collection purpose’…….same as Gurney property, Seri Tanjong Pinang.
Sounds like sour grapes..
Another fella that talk empty without ever visiting the place
Just sapu, at least can earn 200k, sure gt water fish later, dont worry haha
@LamKT
Same ?
You try jump into the sea near Penang Bridge and Seri Tanjung Pinang
Your body will tell you what is the different.
Joker, buy house also must test the sea water, consider over kill.
sounds like got some mentality issue..
Not sure about the take up rate but if anyone interested to get 1 unit could PM at gonggonggong1235@gmail.com, get some pocket $$ during Chinese New Year!
The maintenance fee still high even without any fancy facilities
How much is the maintenance fee ?
Maintenance fees? Since when it matters? Maintenance fees is never a factor that influence property price. For this Waterside, no matter how low or how high the maintenance fees is, it is a sure failure.
Woah, how you so sure it will be a failure? Are you a fortune teller who can know future? Lai lai, give me 4 numbers, i sure strike 4D.
hi@Tan
0.40psf
@Soo
i am quite curious to know y it will fail,do u mind to share?
Rm0.40 psf maintenance fee for WR ? Omg GG already.
Why so expensive?
Quayside with massive 4.5 acres water park rm0.35 psf only initially. This has nothing close to that and is asking for rm0.40. Gg
What is QuaySide maintenance fee today?
Yes, the maint fees quite exp. If IJM can consider to reduce it, will be good and attract more buyer to take up the unit.
Let’s do a maintenance fee, total units comparison:
Tamarind rm0.25 PSF, total 1100 units
Queens Waterfront rm0.?? PSF, total ?? units
Waterfront Residence rm 0.40 PSF. total 256 units
@LamKT
Queens Waterfront 0.30psf + 10% of maintenance fee for sinking fun
Irrespective of total units, Waterfront Residence’s maintenance fee is too high for me …
@Tiang
Too high don’t buy lah.
Queens Waterfront is 500 units for Phase 1, you can compile & do the calculation.
[2024] I am looking to rent a car park. May i know if anyone is willing to rent out a spot? Please send me an email. Thank You