Penang Property Talk

Palm Garden, yet another new serviced residence at Pearl City township in Simpang Ampat. Undertaken by Tambun Indah Group, this is the second high-rise development by the company located Persiaran Mutiara 8. It is adjacent to GEM International School, just across the street from Pearl City Mall.

This development comprises an 18-storey building offering 335 residential units with unit size ranging from 828 sq.ft. onwards. This is probably one of the cheapest new serviced residences you can find in the mainland with an indicative selling price from RM288,000.

Project Name : Palm Garden @ Pearl City
Location : Simpang Ampat, Penang
Property Type : Serviced apartment
Total Units: 335
Land Tenure: Freehold
Indicative Price : RM288,000 onwards
Developer : Tambun Indah Land Bhd.

Location Map:

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There are more applicants for affordable housing units on the island than on the mainland (Seberang Prai) in Penang, according to Chief Minister Chow Kon Yeow

Therefore, it is imperative for developers to try to fulfill the demand on the island first, said Chow.

As of October, there were 43,052 applicants on the waiting list for various types of affordable housing units in Penang, with the majority on the island.

Chow said that the state plans to offer flexible terms and conditions to developers where those who choose not to build the affordable units can instead contribute RM120,000 for each unit which goes unbuilt to the state housing (revolving) fund.

The fund was established to help the state underwrite some affordable housing schemes which private developers cannot fulfill.

An example of the project undertaken by the fund is the affordable housing project in Jalan S.P. Chelliah.

Chow was speaking after launching the balloting process for 200 low cost units built by the Sunway Property division under the Sunway conglomerate at Desa Kayu Manis in Batu Maung and the Harmoni Flats in Bukit Mertajam, respectively.

Both projects are located adjacent to the group’s property projects in Sunway Cassia at Batu Maung and Sunway Wellesley in Bukit Mertajam.

Among those present were Sunway Penang Property Development Division senior executive director Daniel Lim Hin Soon, its state property division general manager Ahila Ganesan and state exco member Datuk Abdul Halim Hussein.

Chow said that the state plans to reduce the backlog of applicants for affordable housing.

“It can be done with the cooperation of the private sector, especially the developers.”

Source: TheSunDaily.my

Having a budget of only RM500,000 to buy a property in Penang Island? Consider these 10 attractive projects in 8 different locations (in no particular order)…

The Zen Condominium (Bayan Mutiara)

Undertaken by Asia Green at Bayan Mutiara. This development is just a short drive away from Penang World City integrated development, offering more than 1,200 affordable units from RM300,000 onwards. One of the most active affordable housing projects in 2018.

Grace Harmoni (Jelutong)

An affordable housing by Nova Land Development at Jelutong, easily accessible via Tun Dr. Lim Chong Eu Expressway. This development comprises a 44-storey skyscraper, featuring a mix of affordable housing and LMC units. The LMC unit starts from RM100,000 onwards.

SenzVilles (Sungai Ara)

A freehold condominium located in Sungai Ara. This is probably one of the lowest density high-rise residential development in the South East District of Penang Island, with a low starting price of RM200,000 for LMC units. Undertaken by Corfield Development, featuring 397 condominium units. Since this is not a fully affordable project, it’s open for non-Penangite.

Sunsuri Residences (Bayan Lepas)

This is a purpose-built residence by Ideal Property with Airbnb in mind. Strategically located along Jalan Tun Dr Awang, less than 2km away from Penang International Airport. It features 770 serviced residences with three different sizes – 500 sq.ft., 600 sq.ft. and 800 sq.ft. Indicative price from RM330,000 onwards.

PR1MA @ Batu Ferringhi

Penangites who are interested to stay near beaches, PR1MA affordable housing projects at Batu Ferringhi is now open for registration. It is located along Jalan Sungai Satu in Batu Ferringhi, offering a total 1,248 affordable units in two phases. Indicative price is RM300,000.

Fairview Residence (Sungai Ara)

A joint venture affordable housing development by BSG Property and VST Group in Sungai Ara. Located next to Setia Pinnacle by SP Setia, about 10 minutes drive away from Setia SPICE. The development comprises 750 affordable units, with standard built-up size of 970 sq.ft.

M Vista @ Southbay (Batu Maung)

A low-density residential development by Mah Sing Group, part of the company’s Southbay township development at Batu Maung. It is located just a stone’s throw away from Free Trade Zone, less than 5 minutes drive to Penang Second Bridge. This development featuring a 23-storey serviced residence, offering 237 units of residential suites with unit size ranges from 534 sq.ft. to 1,201 sq.ft. Indicative selling price from RM364,000.

Sandilands Foreshore (George Town)

Strategically located along Lintang Macallum 2 in George Town, this is one of the few popular affordable housing projects in Penang. it is undertaken by Tah Wah Group, comprises a 48-storey building featuring a mix of affordable houses, LMC and commercial suites.

PR1MA @ Gelugor

This development is strategically located on Kampung Kastam land near the intersection of Jalan Bukit Gambier and Jalan Lembah, undertaken by Ideal Capital Venture Sdn. Bhd. It’s only less than 2km away from University Science Malaysia (USM). Featuring over 1,000 units of affordable and LMC units. The official launch of this project is expected to be in early 2019.

Urban Suites (Jelutong)

Commercial suites by Cosmopolitan Homes located within an established township at of Jelutong, Penang. It is easily accessible via Dr Lim Chong Eu Expressway and surrounded by an abundance of amenities. Lowest selling price starts from RM360,000 for the smallest unit.

Yet another affordable housing development proposed at Relau. Undertaken by Chong Holdings Sdn. Bhd., this development is located along Persiaran Paya Terubong 5, just a stone’s throw away from Sierra East Condominium. It is only 10 minutes away from Bayan Baru town centre, under 20 minutes drive to Penang Bridge.

Interestingly, this seems to be a very low-density affordable housing, consists of only 57 condo units in a 17-storey residential building. It is still pending for approval, we shall find out more details upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name: (to be confirmed)
Location : Relau
Property Type : Affordable Housing
Built-up Size: (to be confirmed)
Total Units: 57
Indicative Price: RM300,000
Developer : Chong Holdings Sdn. Bhd.

Location Map (approximate location):