Penang Property Talk

One Foresta, a premium affordable home by Penang Condo King – Ideal Property Group, has been fully completed to provide the one-of-its-kind lifestyle and high-quality residence for Penang home buyers.

The Penang State Government launched the affordable home campaign in 2013 to assist Penangites especially the younger generation to buy their first homes. In support of the State Government’s campaign, in 2015, Ideal Property Group launched the I- Condo affordable housing series, comprising I-Santorini and One Foresta. It received an overwhelming response soon after the launch.

Ideal Property Group’s Chief Operating Officer Dato’ Ng Tyan Ping pointed out that although One Foresta is an affordable housing, nevertheless Ideal Property Group puts a lot of effort into this project to deliver high quality residence to its purchasers.

“While the price is affordable, from RM300,000 onwards, One Foresta’s leisure facilities are comparable to that medium-high cost condominiums. One Foresta offers affordable homes with well-planned living space and a host of lifestyle amenities for the family.”

Located on a gentle hillslope of Sungai Ara, tranquility and serenity embrace the comfortable surroundings of the residential; a verdant green landscape and club house with full facilities include covered outdoor pavilion, exercise platform, barbeque zone, camping area, resting pavilion, meditation deck, yoga room, zumba dance room, gymnasium and sky terrace.

Dato’ Ng further pointed out that Bayan Lepas is a fast growing district in Penang with more and more people working and living in this area. This increasing rate of population is the reason why One Foresta was designed with 1,343 units with 900 sq ft and three bedrooms and two bathrooms.

For family-oriented purchasers, One Foresta is set to be an attractive purchase as the development is within walking distance to the market and hawker center, Chinese primary school, child care centers, kindergartens and the tuition centres. The market comprises of 72 dry and wet stalls and 57 hawker stalls, as well as a community hall and indoor badminton court. These public facilities within the vicinity of One Foresta are a perfect combination to create a convenient community for residents and long-term benefits to locals.

It only takes a few minutes’ drive from One Foresta to SJKC Chung Shan, Heng Ee High School Bayan Baru branch, Straits International School, and Penang International Airport. For young families who are first-time home buyers, these nearby amenities will prove to be a gem to them.

It is also worth mentioning that One Foresta, recently shines in the StarProperty.my Awards 2018 as the Honours Winner for The Starter Home Award category.

Moving forward, Ideal Property Group will complete its I-Santorini affordable housing in 2019. Current projects that receive high enquiries include Sunsuri Residences – an AirBnb inspired serviced residence; and The Amarene – an exclusively low density resort condominium.

A commercial development proposed by Regalia Pioneer Sdn. Bhd. at Jalan Tanjung Tokong in Penang. It is strategically located next to the intersection of Jalan Batu Bukit and Jalan Tanjung Tokong. The land is now being cleared for the construction of a 22-storey serviced suites.

The new building is only 5 minutes walk to Island Plaza, will consist of 49 serviced suites. There will also be a facilities floor located at level 15.

This project is still pending for approval. Details to be available upon project launch.

Project Name: (to be confirmed)
Location: Tanjung Tokong, Penang
Property Type: Serviced suites
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Total Units: 49
Developer: Regalia Pioneer Sdn. Bhd.

Location Map:

Begonia Villa, the latest addition to Pearl City township development by Tambun Indah. Located next to Pearl Saujana Permai, diagonally opposite Pearl Tropika. Amenities within 5 km include Pearl City Mall, GEMS International Schools, SMJK Jit Sin II and several other shops and facilities.  It is about 10 minutes drive to the North-South Highway, Penang Science Park and Penang Second Bridge.

This is a gated and guarded development featuring a mix of 2-storey terrace and 3-storey townhouses. Indicative price starts from RM400,000 onwards.

Property Project : Begonia Villa
Location : Pearl City, Simpang Ampat, Penang
Property Type : 2-storey terrace & 3-storey townhouse
Total Units: 95 (terrace), 92 (townhouse)
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Tenure : Freehold
Developer : Tambun Indah
Indicative Price: RM600,000 onwards (terrace), RM 400,000 onwards (townhouse)

Location Map:

Jalan PSPN (Penang Science Park North) 2 is now open for traffic as an alternative route to enable traffic from Batu Kawan and Bukit Tambun to continue to Juru using the passage way to the Bukit Tambun toll plaza.

The newly opened road is 30m wide with a three-lane dual carriageway design stretching 1.6km.

“The project was executed in two phases, with the first phase stretching about 0.8km with a construction cost of RM9.6mil which was completed in 2016.

“The second phase was about 800m costing RM9.5mil,” Chow added.

He said the construction for both phases cost RM20mil, which was fully funded by PDC.

Chow was speaking at the opening of the new road in Juru near Bukit Mertajam recently.

“With Ikea opening in March, we expect traffic volumes here to be quite high and that is why PDC is adding a new road.”

Chow stressed that the Batu Kawan area could expect to see rapid growth and the additional road networks were crucial.

Source: TheStar.com.my

File Picture (for illustration only)

Ewein Bhd is looking to launch the second phase of its maiden project — City of Dreams next year (2020) following the completion of the first phase by the end of this year.

Dubbed City of Dreams 2, Ewein Bhd group founder and managing director Datuk Ewe Swee Kheng told reporters that the second phase will be on a 4.5-acre freehold site fronting G Hotel, Penang. It has an estimated gross development value (GDV) of RM1.2 billion.

“We will launch the second phase, which has a similar concept to the first phase, sometime next year, after the completion of the first phase,” said Ewe in a media briefing during its buyers’ appreciation Penang-Port Klang-Langkawi-Penang cruise trip from organised by Ewein from Jan 3 to Jan 6.

City of Dreams is a 3.67-acre seafront development located in Bandar Tanjong Pinang, overlooking Gurney Drive. Ewe said 15 out of 37 storeys of the serviced apartment project’s first phase have been built so far and it was on track for completion by the end of this year.

“The first phase has hit about 80% take-up rate so far and hopefully it will be fully sold by the end of this year,” Ewe shared, adding that the first phase has a total of 572 units.

He added that he has confidence in the Penang property market despite the overall industry slowdown over the past three years.

Appointed marketing agency Zeon Properties Sdn Bhd CEO Leon Lee attributed the good take-up rate of the luxury project to its unique selling points.

“It is a luxury project that everyone can afford. The bank value of the first phase is RM1,800 psf but we are selling at RM1,350 psf inclusive of all the fittings, such as lighting, air-conditioners, television and 60 other luxury common facilities,” Lee noted.

Some of the facilities in the 2-block first phase include private lift lobbies, yacht services, Rolls Royce limousine service, private cinema, and a ballroom that can accommodate 250 to 300 people.

The built-up size of the first phase units range from 1,097 sq ft to 1,335 sq ft. All are 3-bedroom units.

For the second phase, Ewe revealed that it will be a single block offering smaller sized units with a majority of them being two-bedroom units.

“Just like the first phase, we are targeting local buyers (for the second phase). We hope to achieve at least 70% local buyers for phase two. We will have smaller units because the family size in Malaysia is getting smaller and it will also be more affordable,” Ewe said, adding that about 30% of phase one buyers are foreign buyers from Thailand, Singapore, Indonesia, China and Europe.

City of Dreams is part of a 50-acre mixed development which consists of university, hotel, offices, residential and commercial properties.

The entire development will be developed over 10 years and has an estimated GDV of RM15 billion.

“We are currently in talks with an international hotelier and university to join us in City of Dreams. Hopefully, we will announce some good news this year or next,” said Ewe.

Source: EdgeProp.my