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11 Macallum

July 21st, 2011 28 comments

11 Macallum is an commercial development by PDC Properties located along Gat Lebuh Macallum in Georgetown, Penang. It comprises 53 units of commercial and office lots.

Property Project : 11 Macallum
Location : Georgetown, Penang
Property Type : Commercial
Total Units: 53
Developer : PDC Properties Sdn. Bhd.

 

Categories: Georgetown, Property News Tags:

A preferred choice

July 20th, 2011 No comments

Penangites working in China and Singapore are taking up property in Penang, thus providing a stable demand to drive the growth of the local property market this year.

Henry Butcher Malaysia (Penang) Sdn Bhd senior business development manager Law Beng Yeow said that Penang’s residential properties would continue to be attractive despite a slowing GDP forecast, which was expected to be around 5.5% to 6%, compared to about 7% a year ago.

“Penang is on the map of many overseas Penangites, especially those working in China and Singapore, who want to leverage the strong foreign currencies they are earning to invest in local properties, which are still priced competitively in the Asian region,” Law said.

“They go for landed and high rise in choice locations such as properties in Pulau Tikus, Tanjong Tokong, Tanjung Bungah, Batu Ferringhi and Green Lane.

“The demand is reflected in the increase in the selling prices of such properties in the secondary market,” Law said in an interview held in conjunction with tomorrow’s ninth Star Property Fair 2011 in Penang, which will be held at Gurney Plaza and the adjoining G Hotel from Thursday to Sunday.

Law said landed property in these neighbourhoods transacted in the secondary market have risen by about 10% compared to last year, while high-rise properties have risen between 5% and 10%, all depending on the location, size and specifications.

“For example, an average size landed terraced unit with a built-up area of approximately 2,000sq ft to 3,000sq ft is now priced between RM1mil and RM1.5mil, up from about 10% from last year,” said Law.

“For a semi-detached unit with a built around 3,000sq ft to 4,000sq ft, the current price ranges from RM1.8mil to RM2.8mil, up from about 10% from last year.

“A condominium unit with a built-up area of about 2,500sq ft to 5,000sq ft is priced between RM700,000 to RM3mil, about an increase of 5% to 10% growth from last year’s pricing.”

He said new landed and high rise property in these areas to be launched soon were expected to be priced slightly higher from the present price levels in the secondary market.

“The local property market is expected to continue to grow but at a slower pace this year, as we have already seen a big rush to take up properties in 2010,” Law added.

On the high prices of Penang property, Henry Butcher Malaysia (Penang) vice-president Shawn Ong said the cap on the third property loan to 70% had deterred speculators from coming into the property scene.

“Those coming in now are genuine investors with the cash to hold to the property.

“High commodity prices and the volatile stock market overseas are continuing to prompt medium and long-term investors to take up properties, which are considered to be lower-risk,” he said.

Ong added that the trend forward was towards medium market properties, as developers were taking into consideration the affordability level of home purchasers.

“This is why we are seeing more recent developments in the past 12 months of high-rise units on the island, with built-up of over 1,000sq ft, priced between the RM300,000 and RM500,000 range, which have received overwhelming response.

“Such property are now being developed in Bayan Baru, Bayan Lepas, and Air Itam townships,” he said.

The Star Property Fair 2011, organised by The Star in collaboration with Henry Butcher, will be open to the public from 10am to 10pm daily, and admission is free.

To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths at the Star Property Fair.

The fair will also see RM30,000 worth of prizes to be won for the ‘Surf, Click & Win’ contest which is sponsored by IJM Land.

SOURCE: The Star

Categories: Property News Tags:

Set for value appreciation

July 19th, 2011 No comments
FUTURE residents of the Pearl Regency Condominium can look forward to a luxurious and cosmopolitan sky-high lifestyle when IJM Land Bhd’s iconic development at the MetroEast Udini is completed at the end of 2013.

Located on a 2.78-acre parcel of land and a stone’s throw away from Tesco and e-Gate along the coastal highway, the 35-storey freehold mixed-development project comprises residential and commercial components with a gross sales value of RM244mil.

Its residential units, in 10 different layouts ranging in size from 1,313sq ft to 2,131sq ft and priced between RM734,000 and RM1.4mil, have been well received thus far. Currently, only limited units are still available.

According to IJM Land northern region general manager Toh Chin Leong, 15% of those already taken up are from foreign buyers, testament to the project?s centralised location, innovative design and luxurious finishing.

For today’s lifestyle, people also like to live close to amenities such as supermarkets, F&B and retail outlets, and our location makes it very convenient for them.

“Most places on Penang island are also within easy reach, while the Penang Bridge and the mainland is also nearby,” he said.

All units come semi-furnished with quality fittings – from air- conditioners to kitchen cabinets, ovens, refrigerators, gas hob and hoods, water heaters and wardrobes – that saves residents the headache of hunting for furniture later on.

A comprehensive set of facilities ensures that residents will always have a haven where they can return to. These include a swimming pool, Jacuzzi and pool bar, children’s playground, barbeque pit, gymnasium, reflexology path, putting greens, games room, reading room and community hall.

One is also in touch with nature, with a maze and sky gardens adding a touch of lush greenery. Otherwise, one can simply admire gorgeous panoramas of the channel from the viewing deck.

“On top of that, units have unobstructed views of the sea,” Toh added.

Toh believes that with their nearby The Light waterfront development poised to be a small city in itself and change the entire skyline, it will have positive knock-on effects for the entire area, especially in terms of value appreciation.

“For most of our projects, from the day they’re launched till the day we hand over the keys, we’ve seen appreciation of easily between 30% and 50%.”

“Together with our excellent after sales service, buyers have great confidence in our projects,” he said.

As land on the island is scarce and prices of materials on an upwardly trend, in addition to Penang become more well-known internationally, he is optimistic about market prospects and advises prospective home owners to take the plunge once they’ve found something that fits their budget and location needs.

Patsy Lee, the senior manager of sales and marketing, added that specially for the four-day Star Property Fair, the company is offering zero-interest during construction, and free legal fees on sales and purchase agreement and loan. Buyers also get a free utility room averaging 40sq ft, located at the basement, for convenient storage purposes.

Also, the commercial component of Pearl Regency is set to be launched in the fourth quarter of the year, with a GSV of RM80mil. It comprises 76 lots ranging in size from 377sq ft to 2,852sq ft and priced from RM310,000 to RM2.2mil.

Upcoming projects targeted to launch by year-end are The Address at Bukit Jambul comprising low density Boutique Condos and four-storey Duplex Loft, and Permatang Sanctuary at Bukit Mertajam, a 131-acre township, with seven phases and four themed parks.

IJM Land is also sponsoring RM30,000 worth of prizes for the “Surf, Click & Win” contest at the Star Property Fair.

Touted as Penang’s premier property expo, the fair?s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to 24.

To date, 28 major developers – representing almost all the big boys in the industry – along with several financial institutions, have taken up booths in the fair.

The fair, to be open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd. Admission is free.

SOURCE: The Star

Categories: Property News Tags:

Ferringhi Residence

July 18th, 2011 482 comments

Perched on the highest plateau along the world-renowned Ferringhi resort cove – the gateway to tourism, culinary adventures and international beach resorts – living here is a statement of prestige and ultimate joy.

Blessed by its surroundings of lush forest of the hill and the majestic ocean nearby, Mah Sing brings you the premier lifestyle experience to  Ferringhi Residence, marking the first sustainable development in the area, incorporating a gated and guarded community, resort clubhouse and green features.

Ferringhi Residence comprises of  Semi-Ds, Condo Villas and Resort Condominiums. Built on higher elevation from the beachfront, its Condominiums will command breathtaking ocean vistas. Along the serene clutches of the forest hillside, Condo Villas are blessed with the charms of Penang’s best natural setting.

Property Project : Ferringhi Residence
Location : Batu Ferringhi, Penang
Property Type : Semi-Detached, Condo Villas and Condominiums
Tenure: Freehold
Developer: Mah Sing Group

Categories: Batu Ferringhi, Property News Tags:

Sunrise @ Gurney

July 18th, 2011 6 comments

Sunrise Gurney is a commercial building strategically located along Persiaran Gurney, Penang prominent waterfront. The first 24-storey commercial suites in city center which comprises 4 storeys of commercial complex and SOHO offices.

Facilities:

  • Open air infinity pool overlooking Gurney Drive
  • Skycourt – Lounge and activities in open area 220 feet in the sky
  • Gym facilities (membership)
  • Meeting / conference rooms

Property Project : Sunrise Gurney
Location : Persiaran Gurney, Gurney Drive, Penang
Property Type : Retails & SOHO Offices
Tenure: Freehold
No. of Blocks : 1
No. of Storey : 24
Built-up Area: 794 sq.ft onwards
Indicative Price: RM850/sq.ft
Developer : Primo Corporation Sdn. Bhd.

Categories: Gurney Drive, Property News Tags:

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