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The Wave @ Penang Times Square

December 31st, 2011 Leave a comment

The Wave, an upcoming serviced residence development located in Penang Times Square, Georgetown. Extraordinary and surprising facade design, elegant sun protection stripes corrugate around the glazed body, rhythmatically arranged around each floor to give the impression that waves are going over the building.

The residential component comprises 312 suites covering 27 floors while the remaining 11 storeys of podium are made up of car parks, facilities floor and a four-storey commercial component for retailing purposes.

Property Project : The Wave @ Penang Times Square
Location : Penang Times Square, Georgetown, Penang
Property Type : Serviced Residence
Built-up Area: 1,205 – 2,540 sq.ft.
Total Units : 312
Land Tenure: Freehold
Developer : Ivory Properties

Categories: Georgetown Tags:
  1. Tan
    December 31st, 2011 at 11:48 | #1

    Today 1st day launch, any news?
    Selling per sf how much?

  2. iv
    December 31st, 2011 at 19:01 | #2

    from ~500psf after discount, commercial title, free air-cons and nothing else.

  3. frogprince
    January 1st, 2012 at 14:38 | #3

    It is > 600psf after rebate 8%. They have a promotion at Gurney until 2nd Jan. Most corner units reserved while middle units are still plenty (update as of 31st Dec 8pm).

  4. frogprince
    January 2nd, 2012 at 00:12 | #4

    Another thing is that purchaser need to pay 5K for deposit and signed the SnP within a week. Need to pay 10% which is about ~60K or more depending on the purchasing price. The trick here is the SnP will include a clause that the developer can opt to go for stamping up to 18 months. Which means one may only get the VP after 18+36 months=54 months.

  5. Tan
    January 2nd, 2012 at 15:29 | #5

    Thanks for ur info.

  6. spp
    January 9th, 2012 at 16:50 | #6

    I have just booked one at unit 7, any others? For me i like about the design, and the integrated concept, although the commercial portion can be further improved. At least recently can see quite alot of efforts from the management to promote pts, such as new year celebration, and penang master chef, which proven quite successful as well. There is a hear-say Jusco will be coming over in phase II, this can be a real delighter if true, as the current Sunshine supermart in phase I really doesn’t paint the right “class” of image to the whole development. In the future if the Monorail project comes to life, this place will sure boom. Would like to hear from your comments as well.

  7. Interested
    January 10th, 2012 at 09:56 | #7

    SPP, may I know how much did you pay for unit 7? Thank you!

  8. spp
    January 10th, 2012 at 10:19 | #8

    510psf, higher than 10th floor.

  9. markerpen
    January 14th, 2012 at 11:25 | #9

    i will never buy project from ivory anymore, they will took 3 years to sold off units and another 3 years for completion, super duper slow!

  10. Bcc
    January 14th, 2012 at 14:32 | #10

    Yes, that’s right, bcoz they have a practice of taking booking first. But whether the 10% worth the invest, judge for yourself: times square 200k, 10island plaza <300k, the residence < 450psf, so no complaint right? Anyway, you should have known this earlier anyway, what's point if complaining?

  11. Den M
    January 19th, 2012 at 14:03 | #11

    This high rise building will be able to view the sea? Becos so many tall building surround….

  12. spp
    January 19th, 2012 at 17:12 | #12

    For the higher floor corner units e.g. unit 7, should be able to get a glimpse of penang bridge view, but since there is a distance away from sea, also as what u said many tall buildings on the way, it will not be that perfect.

    Penang Transport Masterplan shall be completed first half of the year, Iam eager to see if the LRT/Monorail plan get revived again. Base on the old 9th Malaysian plan, there suppose to be a station along dato karamat, just opposite PTS in this case, hopefully it will retain and get materialised, then this will be a super boost factor for pts. I don’t mind if it is 10 or 15years from now, Penang Island really need a more efficient public transportation system, even Malacca has it and Johor is under planning.

  13. popeye
    January 24th, 2012 at 07:59 | #13

    Commertial title?What the heck?Have to pay more for electric n cukai taksiran?Good luck to you buyers abd Ivory…

  14. andy
    January 25th, 2012 at 12:22 | #14

    For Birch the plaza and Birch Regency, Ivory has translated the commerical title to residential in achieve lower services payments.

    The tall buildings between this development and Penang Bridge are far enough away to allow views of the channel. And anyway, the height of these buildings (except comtar) is relatively lower than the proposed. after all, the first 11 storeys are car park, commercial and service floors.

    Andy

  15. andy
    January 25th, 2012 at 12:31 | #15

    Yep, SPP is right about Sunshine Supermarket – budget to say the least. The Management of for Times Square Phase 1 seems to be really geared towards cheap. They must have come from some pasar malam set-up.

    And the comments on Ivory – also true. Ivory is a speculative developer out to make cash from it’s development. The fittings are cheap, the finishes cheap, and layouts are squeezed in. Completion times will be arranged to max benefit to Ivory.

    What else do you complainers expect ? Fair play from a developer ?

  16. ioukgk
    February 2nd, 2012 at 00:05 | #16

    i booked a unit today.Actually, i like unit 7 because of sea view. But unit 7 is fully booked,a little sad.
    Another corner unit 12 still have 2 or 3 unit,it face to west-north.Also a little sad to me.
    Finally, i choose unit 8.
    Anyway, congratulation me! haha

  17. spp
    February 2nd, 2012 at 00:14 | #17

    @ioukgk

    Congratulation. Anyway, which floor and how much? Heard Ivory is giving away RM28888 rebate during CNY, u got it?

  18. ioukgk
    February 2nd, 2012 at 00:30 | #18

    Actually , i should thanks to u because of your information about your unit per price.Finally , i got 28888 rebate.
    I am on higher than 9th,515psf.
    Nice to be neighbour:)

  19. CT
    February 4th, 2012 at 05:58 | #19

    My unit is higher than 14th floor located on the 07 unit. Any idea when they will release the sea view for reservation?

  20. Central unit
    February 4th, 2012 at 08:39 | #20

    Everyday have to round round the 11 floors car park before reach to your units. Very challenging la

  21. ong
    February 4th, 2012 at 11:32 | #21

    how much is the price after the 28888 rebate?

  22. andy
    February 6th, 2012 at 14:21 | #22

    The “everyday carpark so troublesome saga” was also used about Birch the Plaza. And by folks who hadn’t used it because it wasn’t frigging built yet.

    Sama sama The Wave.

    The Birch Plaza car park is easy to use, except by morons who couldn’t drive a car down an airport runway without hitting the next field.

    It’s a matter of sophisticated and capable drivers. If you’ve only ever driven around the kampong then stay out of town.

    Inner city residences will get inner city style car parks. It’s a given. It’s like night following day.

    andy

  23. CT
    February 7th, 2012 at 16:30 | #23

    The car park wasn’t that bad after staying there for three weeks. I’m kind of used to it now. I heard from the contractor complaining about difficulty to renovate the unit because the wall is of a solid concrete. Glad they did that.

  24. Kyle
    February 7th, 2012 at 17:09 | #24

    Any unit available ?

  25. CT
    February 8th, 2012 at 00:32 | #25

    @Kyle
    There is but not sure if the Ang-Pow money of RM28888 still available after CNY.

  26. ong
    February 8th, 2012 at 07:31 | #26

    The 28888 is given as deduction of the selling price or the downpayment?

  27. andy
    February 10th, 2012 at 21:13 | #27

    Checked today at Times Ivory. Sales person said no more 28,888K discount.

    I was told that work would start mid 2013.

  28. tc
    February 10th, 2012 at 21:26 | #28

    still got how many units left?

  29. andy
    February 11th, 2012 at 17:33 | #29

    Corner Suite 1,245 sf (plus foyer 45 sf) from RM747,800.
    Intermediate Suite 1,300 sf (foyer 45 sf) from RM754,800.

    Note : These suites (rather than residential units) do not have the usual descriptions – bedroom, kitchen, bathroom – on the brochure plans. Rooms are referred to as – ROOM1 etc. Bathrooms are TOILET1 etc. The kitchen is a PANTRY.

    These suites can be used as offices, stores, day centres, child care, general offices, SOHO, as fits a commercial development.

    The WAVE is orientated East/West so all units will get either morning sun or afternoon sun.

    The internal lightwells on a 32 storey building (less podium levels) will be pretty dark on the lower floors.

    Andy

  30. andy
    February 11th, 2012 at 18:38 | #30

    Extraordinary and surprising facade design, elegant sun protection stripes corrugate around the glazed body, rhythmatically arranged around each floor to give the impression that waves are going over the building.

    An alternative view is that it’s all a bit dizzying.

    Anyone planning on living there or is all this just speckies.

  31. CT
    February 24th, 2012 at 13:02 | #31

    Any updates or news?

  32. ptstw
    February 24th, 2012 at 14:34 | #32

    heard they are trying to pull in Jusco into phase III, negotiation is ongoing. There is a plan for a cinema as well. I believe once the deal(s) is sealed, they will then launch the east wing, only in this case they may have a reason to raise the price. The last time I visited the showroom, they mentioned >70% of units already sold, unit 7 already fully booked.

    Anyway, price is definitely not cheap, ~510psf for a commercial title comes with only 1 car park. IJM is launching Vertiq, going to price higher at 550psf, but residential title, 2 car parks, and free interest during construction. In terms of accessibility and maturity of neighbourhood, Vertiq may show a better edge.

  33. CT
    February 25th, 2012 at 13:26 | #33

    Thanks. That’s a great info. Hope the plan of a Jusco and Cinema will mature.

  34. andy
    February 29th, 2012 at 08:56 | #34

    Jusco and a Cinema won’t help Ivory upgrade it’s current “pasar malam” approach to the shopping centre. Compare with the CapitalMalls Gurney Drive – now they know about style, class, quality, and mixture.

  35. tkodino
    March 20th, 2012 at 23:39 | #35

    Hi, we are thinking of buying a unit here. someone mentioned that all the corner units are sold. is this true? is there any other development in the vicinity block potential views? any info is appreciated. we are offered 8% rebate and the offer ends this weekend. Not sure if this offer is still the same as before…..thanks.

  36. CT
    March 21st, 2012 at 02:26 | #36

    Only the inner facing units are open, the sea facing sides still not open for reservation.
    Probably they are waiting for the inner facing to fill up first. Marketing strategy to charge higher premium on the sea facing units. They have 12+6 term so i guessed no rush for them to open it so early.

  37. andy
    March 23rd, 2012 at 12:28 | #37

    The units facing the sea also face east so you’ll be getting morning sun from when it rises to when it moves vertically over the building around 12 noon.

    The inner facing units get afternoon sun. They also face the central zone of Times Square which is advertised as an entertainment centre.

  38. Wit
    March 23rd, 2012 at 12:50 | #38

    What they have in plan for entertainment city? Indoor theme park with roller coaster like times square KL?

  39. Wit
    March 23rd, 2012 at 12:56 | #39

    Alot of mix remarks on pts, more toward negative side. But it looks impressive to me though, from location, design, concept perspective. Price also depreciating well, rental market also available. It is definitely not cheap like night market as someone has put it. Not many good development in the island nowadays, if taking price into consideration, this one is not bad

  40. andy
    March 28th, 2012 at 16:32 | #40

    If I’m going to put my cash into something then “not bad” isn’t good enough.

    Agreed, not many good developments in the island nowadays, so I’ll wait and see.

  41. wll
    March 28th, 2012 at 17:59 | #41

    There is no perfect investment in this world, good one too expensive, cheaper one located at not so popular areas such as sg. ara, relau, teluk kumbar, even balik pulau.

    Something good with reasonable price tag? Wait-long-long :-).

  42. andy
    March 28th, 2012 at 20:30 | #42

    Nope, wait as long as it takes.

    Or look elsewhere. Penang is a small island not the centre of the world.

  43. martin
    April 4th, 2012 at 21:18 | #43

    Heard that there is a possibility of the Wave being redesigned to be much lower as it is too high to be a suitable building in a heritage zone. Is this true?

  44. andy
    April 5th, 2012 at 16:17 | #44

    It’s not in the Heritage Zone.

  45. wbk
    wbk
    April 5th, 2012 at 17:36 | #45

    My friend who just sold his Birch Plaza unit complained Ivory alot. Especially the S&P stamping took more than 1 year (i think it is really 18 months after you paid them 10% downpayment.

    After that delay the completion somemore with all kind of excuses. My friend in the end rugi about $20k on interest every year for two years. Luckily he sold his unit at a higher price to cover the loss.

  46. stk
    April 5th, 2012 at 18:18 | #46

    10% of the downpayment would resulted in RM40k loss within 2 years? I strongly doubt it. If your friend bought the unit earlier then he most propably paying ~250k, which 10% of downpayment is RM25k. If he puts this 25k into the fix deposit with 4% yield, he only loss ~2k within 2 years. Please get the math right, unless he can find an investment elsewhere which can give him 100% yield yearly.

    If you are referring to Bank loan interest that doesn’t make sense neither. As these buyers did not engage loan before s&p being signed.
    Anyway, taking booking fees is the standard practice from Ivory. However as far as I am concern, those buyers who gone through this way have made a big fortune through projects like 10 Island Resort and PTS etc.

    If you are referring the late delivery (VP) when the loan already almost fully disbursed, i doubt it neither. I don’t know if there was an actual delay from the s&p signed date, even there is i don’t think he will loss 40k.

  47. wbk
    wbk
    April 5th, 2012 at 18:58 | #47

    @stk

    His unit is bigger unit, with 300 plus thousands loan to serve. That time no 0% interest until VP that kind of scheme. And the interest 5 years ago is BLR-0.1% at best only. Progress extremely slow especially the last 10-20%.

  48. stk
    April 5th, 2012 at 21:14 | #48

    @wbk
    1) What is the purchase price?
    2) What is the loan ratio? 90% ? Take interest rate as BLR-0.1% in this case.
    3) When was the S&P signed, and when was the VP?

  49. wbk
    wbk
    April 6th, 2012 at 09:08 | #49

    @stk

    Wah, need to update you with people financial status meh? Just take 350k as loan amount lar. Signed 5 year ago, and only get keys end of last year. Friends and family all joked about his apartment is like kura-kura.

  50. andy
    April 9th, 2012 at 10:14 | #50

    Luckily he sold his unit at a higher price to cover the loss.

    It isn’t a loss. It’s part of the investment and the chance that a speculator takes with the deal. Due diligence would have exposed Ivory’s practices and allowed a more informed decision than greed.

    And anyway why complain ? Your friend bought the unit to sell at a profit and Ivory sold and built it for a profit. Same same, like thieves complaining there was only RM5 in the wallet.

    Greed, that’s your friend’s problem, not maths.

  51. wbk
    wbk
    April 9th, 2012 at 11:33 | #51

    But Ivory really make good use of my friend’s 10% booking for full 18 months. All other projects don’t collect 10% booking and ask people wait 18 months to get the S&P stamped, even though it is black and white, just my opinion.

  52. CT
    April 21st, 2012 at 04:43 | #52

    Any updates on PTS The Wave? Did they change the design or when is the ground breaking date? Thanks.

  53. iw
    May 16th, 2012 at 12:58 | #53

    Heard west wing already >70% booked, they are now opening for east wing – price increased by another 20%, but offering some rebate and installment plan for the deposit.

    Well, this project may not be excellent but certainly one of the better choice around at the present time.

  54. wbk
    wbk
    May 16th, 2012 at 13:26 | #54

    Already 70% booked. People, buy now before it is all taken up!!!!

    Hehe… this is the usual tactic lar. Cover the board with stickers everywhere even before the soft launch. They want to take your deposit only. Prepare to wait for 5 years from your house lar…

  55. CT
    May 24th, 2012 at 10:37 | #55

    What’s the lowest price now on the East wing?

  56. Angel
    May 30th, 2012 at 22:53 | #56

    East Wings is facing jetty? What about the utilities, will it be charge higher?

  57. andy
    June 18th, 2012 at 15:59 | #57

    Ivory is still using the Wave site as a cement works so they’ll be starting the Wave after they’ve finished their other projects. Start date : go figure.

  58. CT
    July 2nd, 2012 at 14:02 | #58

    Any idea what will be phase 4? heard that it range from 400 sqft to 1200 sqft.

  59. Eyenaa
    December 2nd, 2012 at 17:41 | #59

    How much the price now? is project started?

  60. DevRam
    December 2nd, 2012 at 23:06 | #60

    I am keen to buy an apartment in wave. Any advice? what to And what not to look out for?

    What is the ongoing price persqft for this project?

  61. KLTan-kulim
    December 16th, 2012 at 18:32 | #61

    Isn’t it that the developer, Iworiy Properties, taking advantage on Penangites and other Malaysians? Is the action by the develop to add the stamping date clause illegal in law? How can the blood-sucking developer simply imposed the condition for the unsuspecting purchasers?

    Our MCA Minister of Housing, can you enlighten us on the legalities on the imposition of the clause to extend the date of stamping by the unethical developer, Iworiy Property? . Hope ALL Malaysians will boycott the project by the blood sucking developer, Iworiy Property.

    We heard this developer have imposed the stamping date extension clause in almost all their projects as they will roll the funds from one project to another, a dangerous and high risk investment! Take full precaution on our investment by this Developer?.

  62. Tan
    January 8th, 2013 at 10:48 | #62

    For your info –
    Birch Regency currently selling at around RM 600,000 (900sq ft) (Basic unit) and RM 650,000 (for the 3 rooms unit)
    Rental = RM 2500 to RM 2800 (2 rooms unit)

  63. LokeKT
    January 15th, 2013 at 13:37 | #63

    The Penang State government have sold Bayan Mutiara to Ivory. I believed that LGE will not just sold the land to a lousy developer. Ivory and Dijaya have decided to joint develope the Bayan Mutiara into Penang World City.

    The Penang state government have taken time to choose the developer.

    By way, Tan, the rental of Birch Regency have touched RM3500 as quite a japaneses have rented the units there at RM3500 recently.

  64. Truth
    January 15th, 2013 at 13:56 | #64

    @Tan

    I have a few friends from mainland who are having a hard time trying to sell
    their units. PLEASE PROVIDE THE REAL INFO !!!!!

    My friends are eagerly waiting for Japaneses to rent. Wonder how many
    Japaneses are waiting to rent ???

  65. tan1
    January 15th, 2013 at 14:31 | #65

    @Truth
    Please state clearly laa. Where is yr so called “friends from mainland” unit located? Balik pulau or teluk kumbar arr?

  66. Truth
    January 15th, 2013 at 15:14 | #66

    @tan1

    Mainland B’worth and definitely not Balik pulau or teluk kumbar. Are you
    referring Balik pulau and Teluk Kumbar as mainland ? Very funny.

  67. Hoo
    February 11th, 2013 at 17:23 | #67

    Visited the showroom and saw only a few units left, developer is giving 10% + 5% off plus CNY ang pow, seems to be a good bargain, was still considering as the units left is very limited. 1310 sqft works out to be 800 over thousands, possible to let go at 1m or more after 3 years? Franckly, I plan to buy purely for investment purpose only… By the way anyone knows if the phase 4/5 is gonna be a office tower? That’s the master plan I think but any amendment?

    Aside for PTS, where is another gems? PWC is too expensive already, I just couldn’t convince myself about the future demands on these luxury units, moreover Ivory gonna take more than 10 years to complete the whole projects at PWC. IJM’s Light Waterfront also has nothing interested currently.

    Advices please, should I take the CNY offer for the wave?

  68. choo
    May 19th, 2013 at 17:27 | #68

    The Wave is good for investment in future 3 year time!

  69. CT
    CT
    May 22nd, 2013 at 13:16 | #69

    What is the latest pricing? How many units still available? Thanks!

  70. choo
    May 27th, 2013 at 14:49 | #70

    Not much left. Less than 10 unit available for the wave. I just visit their property show in gurney plaza recently. Only RM900k+ unit available. However, the wave is really a good investment since it is the only town area condo so far in georgetown as we can see no more place can be develop around georgetown area. I belive the price is going to shoot up to at least 1.1 million at least after 3 year of completion time.

    @CT

  71. lumix
    June 3rd, 2013 at 16:19 | #71

    Is this good to buy? I have 2 relatives who own Birch Regency and they claim to have seen “something”. Not only them but their friends said there not very clean. Anyone heard about this before? I am really wishing to find out more information regarding this before committing to buy here.

  72. CT
    June 7th, 2013 at 14:01 | #72

    And you believe that? Are they still living there? If there are, probably just try to spread the rumor so that they can grab more properties at lower prices – no competition. Spirit is every where you go if you have low life energy. I bet they see things at other places as well. @lumix

  73. tww
    June 7th, 2013 at 14:23 | #73

    @lumix
    This is absurd.

  74. CT
    June 28th, 2013 at 04:31 | #74

    Phase 3 will be a SOHO. Could you provide the pro and cons of it. What’s your point of view on own stay? purely investment with renting out in mind? Thanks.

  75. Chooo
    June 30th, 2013 at 21:36 | #75

    This is absurd. I have quite couple of friend who stay over that and no issue on that.

    Phase 2 actually is very relax at the swimming pool area. Nice to stay actually with windy environment. And now is quite high in market 600k above.

  76. Power
    June 30th, 2013 at 22:57 | #76

    lumix :
    Is this good to buy? I have 2 relatives who own Birch Regency and they claim to have seen “something”. Not only them but their friends said there not very clean. Anyone heard about this before? I am really wishing to find out more information regarding this before committing to buy here.

    And your relative must be from Chinese school. Correct me if I am wrong!

  77. newbie
    July 1st, 2013 at 00:39 | #77

    My cousin also said about the place being “unclean”. He has since sold of his unit. Another cousin’s friend who is staying there with his family siad that one day his child says there is a man there but none of the adults in the living room saw any man?!
    Just sharing what I heard.

  78. Kenny
    July 15th, 2013 at 18:26 | #78

    The wave is going to become a new iconic landmark for Georgetown city. Great to have it for investment!! This is the only and last condominium in prewar house area in the heart center of Georgetown.

  79. CT
    July 19th, 2013 at 14:50 | #79

    Went to Ivory over the weekend asking about the number of units left on The Wave. Looks like there’s still a few units left…. however, the price for those units are 980K and above.

  80. kenny
    July 19th, 2013 at 15:00 | #80

    Hi CT..

    How big is the unit? 980k above. Worth for investment?

  81. impromptou
    July 28th, 2013 at 20:03 | #81

    Stay away from this company. A time bomb waiting to explode. Balance sheet is a disaster. Debt is almost 300 mil with a market cap slightly above that. You may not even get your keys. Made the least money last quarter (only 2 mil) among Penang based developers last quarter.

  82. newbie
    July 28th, 2013 at 20:35 | #82

    What about Penang World City then? I think same developer.

    @impromptou

  83. Truth
    July 28th, 2013 at 23:38 | #83

    Ivory is the best developer in penang!!!

  84. ST
    July 29th, 2013 at 00:28 | #84

    Going to “sau tong” ?

  85. impromptou
    July 29th, 2013 at 09:01 | #85

    Likelihood of closing shop is high if Ivory continues to operate like that. Highly geared companies are at serious risk during a downturn. Penang World City is a joint project between Ivory and Dijaya. However, Dijaya has more voting rights than Ivory in that Project. Dijaya is controlling the project now. What do do when your partner has more money than you?

  86. Truth
    July 29th, 2013 at 22:49 | #86

    Don’t simply spread the rumour without providing any data.Ivory still the best in penang.. Time square. City Mall. The peak. PWC. And many more to come guys!!!!

  87. impromptou
    July 31st, 2013 at 12:31 | #87

    Ivory is the best in penang when it comes to developing high class pasar malam in Penang Times Square. I visited the showroom of The View long time ago and they told me its almost sold out. There are still units left today more than 5 years after VP. Best developer cannot be making the least money among all the listed developers in Penang.

  88. Wave Buyer
    August 4th, 2013 at 13:48 | #88

    It’s baseless to argue with “impromptou”, please check it up yourself and make your own decision. I was a happy customer from Phase-2. They have not obtain the approval yet for the Wave as last i talk to them…but coming.. that’s why were ask to start the loan processes. Again, this is base on your research and don’t let one person or a group of people to sway you if you do your homework. I’m moving forward with a loan.

  89. Truth
    August 6th, 2013 at 18:46 | #89

    Phase 1(Birch plaza) and Phase 2( Birch Regency)@PTS is really a nice condo. Center of georgetown with convenient access and eating. Estimated both condo market price going up to minimum at RM700k by this november during phase 3 kick off the job!

  90. Impromptou
    August 8th, 2013 at 11:25 | #90

    Haha. good luck owning a condo above pasar malam times square where u can even play futsal inside without obstructing any mall shoppers . Ivory is the in the pasar malam league among penang based developers in malaysia with a market cap below Tambun indah, Hunza and now just recnently Asas Dunia.

  91. Truth
    August 10th, 2013 at 09:21 | #91

    Every condo have it advantage and disadvantage. No point of having such bad word here to be argue around. You are not belong to this “the wave” forum and owner as well, so please don’t come and disturb. Thanks! We are happy to own our condo here. I do agree that developer “Ivory” do have some delay on S&P on the phase 1 condo but i do very happy to stay in this condo and the location is quite suit me to stay in since i was a citizen at georgetown at the while. I love the condo and georgetown city!

  92. kent
    August 16th, 2013 at 20:46 | #92

    Time square condo is the best in penang with perfect location and easy access around. Look at birch plaza and regency phase 1and phase 2 from RM350k up to now market price RM700k.Very good pick up on occupy as well. Wonder how is the wave will be after completed on end of 2017.Another new landmark.

  93. kenny
    August 16th, 2013 at 20:53 | #93

    No doubt to say is a very convenient location.All is within walking distance. Birch plaza or birch regency which one better? The wave seen is commercial title. Birch plaza and regency is residential title.

  94. ck
    August 16th, 2013 at 20:56 | #94

    The wave must be very expensive in water and electric tarrif since this is commercial title.

  95. SP
    August 16th, 2013 at 21:00 | #95

    You said so but a few of my friends find it hard to sell. They have been
    f_ _king left and right till their mouths already numb !!!.

  96. ck
    August 16th, 2013 at 21:03 | #96

    Which phase hard to sell? Share..

  97. kenny
    August 16th, 2013 at 21:05 | #97

    Nowadays buying penang property is better for own stay. Bcos subsale market seen downtrend. But location is good and condo is just fine for me own stay.

  98. kent
    August 16th, 2013 at 21:11 | #98

    Phase1&2 subsale market response not bad..Residential title

  99. OO
    August 16th, 2013 at 21:19 | #99

    From RM350k 5 years time up to RM700k. Very good investment!

  100. Invest
    August 16th, 2013 at 21:23 | #100

    The wave so expensive..and commercial title. Phase 1&2 condo is alternative way in order to stay in town.

  101. SP
    August 16th, 2013 at 21:24 | #101

    Birch Regency Condominium.

  102. kent
    August 16th, 2013 at 22:53 | #102

    Maybe Birch regency phase 2 is allocated at behind of time square center. So buyer will prefer phase 1 seen it locate at much more strategy location.

    1 more thing is condo access door for phase 1 is just beside roti bakar and phase 2 was at behind(lorong belakang MPPP).

    Seen like Birch plaza phase 1 is much strategy location and not octructed by any of condo. Phase 2 birch regency will be blocked by The wave condo when Phase 3 is completed.

  103. CC
    August 17th, 2013 at 14:20 | #103

    When is “The Wave” going to start the job? Every company is start launching their project and build after election..But “The wave” build up area still no progress..

  104. Invest
    August 18th, 2013 at 11:27 | #104

    When phase 3 going to start the job? Seen very slow progress from Ivory..

  105. kent
    August 18th, 2013 at 11:31 | #105

    Seen no progress. But hear is november going start job for”The Wave”

  106. Impromptou
    August 18th, 2013 at 14:01 | #106

    Truth shup up. Are you a genuine buyer or a so called buyer representing someone else?
    A buyer has no incentive to defend a developer so vigorously . Everyone has their right to make constructive criticism about the project and you have no right to call it disturbance .
    The truth is ivory has seen multiple complaints including poor subsale values unless you are selling back to yourself

  107. Truth
    August 18th, 2013 at 21:33 | #107

    Are you sure Time square condo have poor subsale value? Please share your opinion. Which area make you say poor subsale value? Because for me time square condo now doing very well and management is driving for save cost at this moment. Thanks!

  108. Invest
    August 19th, 2013 at 14:58 | #108

    Generally for me birch plaza phase 1 still the better location compare to birch regency is at which behind..

  109. kent
    August 19th, 2013 at 15:00 | #109

    The wave and birch plaza is very with city view of komtar but birch regency wil be blocked by The Wave later on.

  110. kent
    August 19th, 2013 at 15:02 | #110

    Good in city view

  111. kent
    August 19th, 2013 at 15:08 | #111

    Birch plaza looks have bigger sqf 1050 compare to birch regency 950sqf..And agree that location seen better for birch plaza

  112. cc
    August 19th, 2013 at 15:10 | #112

    Any news on phase3 and phase4 shopping center? Jusco?

  113. Jo
    August 20th, 2013 at 18:48 | #113

    Good for investment!! High potential in town area!

  114. Kenny
    August 20th, 2013 at 22:21 | #114

    Good investment and high return!! Nice location..probably is the only one and also last condo in center of heritage georgetown area. I am looking for a unit at phase 1 birch plaza(Residential title) to invest. No doubt to say time square is good for long term condo investment.

  115. The Wave Buyer
    August 21st, 2013 at 13:25 | #115

    Looking at the latest artist sketches, having a self standing cinema in front of the open area will be a bad idea. really hope they will not do that. Hopefully they are not dump enough to destroy the PTS and its Feng Shui. The cinema will just kill it if happened.

  116. ffg
    August 21st, 2013 at 15:10 | #116

    @Kenny
    PTS still have phase IV, so The wave is not going to be the last.

  117. ffg
    August 21st, 2013 at 17:51 | #117

    Anyway, has anybody applied for the loan so far? Please share on the bank and package if you have done so, thanks

  118. Kenny
    August 21st, 2013 at 23:55 | #118

    That is Hotel!

  119. Jo
    August 23rd, 2013 at 19:53 | #119

    Hope phase 3shopping center will be success. And bring up the status of PTS.

  120. kenny
    August 23rd, 2013 at 19:57 | #120

    Seen like birch plaza phase 1 condo price has increase quite significantly after GE at May. From 600k up to 660k now.Really good invest.

  121. Jess
    August 23rd, 2013 at 20:00 | #121

    Already get loan from OCBC 2.4 BLR flexi. Interest 4.2%

  122. kent
    August 23rd, 2013 at 20:03 | #122

    Which hotel will be in for PTS? I mean beside The Wave. Any1 hav news to share?

  123. Walao
    August 23rd, 2013 at 20:06 | #123

    Anyone have news of when is ivory going to start job for The wave project? Ivory was too slow like kura kura. Delay and delay the project..

  124. pinag
    August 23rd, 2013 at 20:16 | #124

    PTS is a nice project in Georgetown. I was went up to the phase 1&2 condo. Really nice environment and windy..

  125. PTS
    August 23rd, 2013 at 20:20 | #125

    I prefer birch plaza phase 1 rather than The wave bcos residential title. And the wave is commercial title. Everything also expensive. Good luck!

  126. KC
    August 23rd, 2013 at 20:29 | #126

    Project too slow guys.. Better i go buy phase1 birch plaza

  127. yoyo
    August 23rd, 2013 at 20:33 | #127

    I got the early launch unit with 650k with 1200sqf. ^^ lucky. Very good for investment!

  128. PTS
    August 23rd, 2013 at 20:37 | #128

    The project too slow progress take 5years from now to completed. How to wait..i was looking for birch plaza at the moment..

  129. PTS
    August 23rd, 2013 at 20:39 | #129

    Any one looking for sale birch plaza?

  130. Roy Chen
    August 23rd, 2013 at 21:00 | #130

    This project by Ivory is under high risk low return category.

  131. PTS
    August 24th, 2013 at 12:43 | #131

    Yes. I totally agree. The wave project actually is high risk since it is commercial title and shopping mall is the key to play the role in order PTS to succcess. Birch regency and birch plaza actually is quite good to stay compare to “The wave”. I rather prefer birch plaza or regency than “the wave”. Both is residential title.

  132. yo
    August 25th, 2013 at 11:25 | #132

    This project is under commercial title and include suite, shopping center and service residence. Take 5yrs++ to complete. Those who want buy for own stay..suggested looking for birch plaza phase 1 condo. Residential title and nice city view. The wave project is too slow and during 5yrs later we don’t know what is property market going to be.

  133. JY
    August 25th, 2013 at 13:49 | #133

    Last Friday I went to PTS and found out all the shop lots closed down. Left only those cafe & restaurant. Another “ghost” mall soon?

  134. PTS
    August 25th, 2013 at 22:21 | #134

    PTS shopping really need something special to be in…or else sure become “ghost mall” again..Hope the phase 3 and 4 will bring up the status of PTS by tie in more international company and brand…But anyhow the condo phase 1 and 2 is worth to invest with it strategic location at heritage center of Georgetown. ” The wave” seen expensive as it is commercial title. Different catergory with Birch plaza and regency condo.

  135. Walao
    August 25th, 2013 at 22:27 | #135

    Yes. Agree that phase 1 and phase 2 condo doing quite well. Many ppl already stay in. Occupy rate pick up quite fast. Nice to stay in at the moment. By the way, any one can explain why until now ivory still never start the job for ” The wave”. Delay and delay..

  136. ck
    August 25th, 2013 at 22:30 | #136

    Phase 1 birch plaza is better than birch regency phase 2…Looks alot of owner keen to sell their unit now for birch regency. But phase 1 birch plaza less stock…Birch plaza komtar view is very nice….

  137. yo
    August 26th, 2013 at 14:27 | #137

    Any one can give some comment about further of time square? If i choose to buy a unit at PTS…which phase should i go? Phase1?…phase2? Or the wave?!

  138. OO
    August 26th, 2013 at 14:29 | #138

    I will still go for phase 1 birch plaza. More suitable for own stay!!

  139. yo
    August 26th, 2013 at 14:31 | #139

    Why not ‘The Wave’?? Pls share your thought..

  140. Sag
    August 27th, 2013 at 23:08 | #140

    Birch plaza and regency are high dense condo, with average design and architecture. The wave is suppose to be one class above. Judge for yourself, squeezing urself in a 1000sf pigeon hole in phase 1 and 2 just not appealing.

  141. OO
    August 28th, 2013 at 09:32 | #141

    But The wave is commercial title and everything was expensive. Any comment on subsale after that. …?

  142. hi
    August 28th, 2013 at 09:40 | #142

    Is the wave have any change to convert for residential title after that? I mean similar like phase 1&2 driving for save cost. I looking for own stay. Long term is not worth..

  143. ck
    September 2nd, 2013 at 12:09 | #143

    The Wave is one of the best investment property in penang Georgetown area.

  144. Daniel
    September 2nd, 2013 at 12:19 | #144

    PTS is probably one of the best investment property in town compare to Tropicana which they are going to launch soon at macalister room with around RM1000sqf..

    I was buy birch regency with only RM380k during the launching period time. And now is around RM620k according to the market price. 63% of increment in term of price in just 3 year++. It is quite amazing. Nice city area to stay with much more entertainment to come. Mcdonarld is set to be open at birch house soon by end of 2013 whereas ivory office might move to top of soju at phase ll..

  145. Jess
    September 2nd, 2013 at 12:31 | #145

    Just back from Gurney plaza and attending the Ivory property fair. Still have a few unit available for ” The Wave which the price is start from RM950k++ above. Worth to buy for the wave or “Birch plaza” subsale? I was looking to stay in PTS either ” the wave or birch plaza”.

    Birch regency is not in my list of consideration as the unit was less than 1000sqf and entrance was from behind and facing “MPPP”.

  146. Kenny
    September 2nd, 2013 at 12:40 | #146

    Looks like Ivory going to start the job already end of 2013..few month left to start the job..

  147. Kenny
    September 2nd, 2013 at 12:44 | #147

    They going to tie in Jusco AEON in phase lll as well.. More and more excitement to come once whole project completed including the 5 star hotel.Price of Condominium surrounding (Birch plaza, Birch regency & The Wave) sure will boom and increase at least 15% during whole project of PTS is completed.

  148. hi
    September 2nd, 2013 at 12:56 | #148

    PTS is always a good property to invest either ” The Wave” ” Birch regency and birch plaza also.

    1) Perfect Location Georgetown
    2) Convenient (Eating, Shopping &Everything also in walking distance)
    3) Investment potential is really high for birch plaza& regency as”The wave” and shopping mall is coming soon.( Mcdonarld is coming end of this year 2013).
    4) Currently approximately RM 620psf. Where else other area in town..all new project launching with RM1000sqf.
    5) Highly rental yield compare to any condominium in Georgetown.
    6) Birch plaza& Birch Regency currently subsale market was still in around RM620sqf. Still affordable compare to others property. Potential of PTS condo to raise and grow still very high.

  149. Lili
    September 2nd, 2013 at 13:20 | #149

    Can any one share which lawyer they use for ” The wave”? I hear CTS lawyer which proposed by ivory is giving a very bad service and slow. And the quote from this lawyer firm is ratherly high compared with other.

  150. Josh
    September 2nd, 2013 at 13:25 | #150

    @Sag
    Do you know “The wave” is commercial title? Sure everything is expensive. The wave capacity is rather similar with birch plaza& birch regency. Please make your study before voice out. All this 3 condo of PTS capacity was in 300 unit toi 400 unit. Not much different.

  151. OO
    September 2nd, 2013 at 13:30 | #151

    I hear Birch Plaza condo average price was going up to RM700k++ at the end of 2013 during Phase lll start the job. Expensive liau..Want buy faster buy..Now still affordable around RM650k++.

  152. Mr Liam
    September 2nd, 2013 at 13:35 | #152

    I just bought a unit at birch plaza condo at price of RM645k for investment purpose. Hope the price will up and up after PTS all completed. Happy for investment!

  153. Hi
    September 2nd, 2013 at 13:37 | #153

    @Mr Liam
    Based on the currently market for birch plaza 1070sqf phase 1..i don’t think have this kind of price anymore. Minimum is 650k above already. You are lucky man!

  154. OO
    September 2nd, 2013 at 13:39 | #154

    Birch Regency phase ll still have partially furnished at price of 620k..

  155. First Home
    September 2nd, 2013 at 13:53 | #155

    Birch Regency Fully reno for sale, nice renovating, good investment… selling 670k 2 rooms

    Contact me

    Jason GOh
    First Home
    0124297310

  156. Eng
    September 2nd, 2013 at 15:09 | #156

    One of the very best development in town you can see from Ivory—-> “The Wave”

  157. Hi
    September 2nd, 2013 at 15:11 | #157

    Simply the best. Awaiting to come!!!

  158. yo
    September 2nd, 2013 at 15:16 | #158

    Where you are going to get this kind of price “RM620sqf” in Georgetown city area condo? None. But only at PTS. Anyhow, during The wave completed and all the international branded shop going in..sure price up already.

  159. PTS
    September 2nd, 2013 at 15:18 | #159

    Any one have idea on currently ivory is working on phase ll area? They have taking around 6 month which is too long to complete it. Really slow.

  160. walao
    September 2nd, 2013 at 15:27 | #160

    what is the sinking fund for ” The wave”, “birch regency” and ” birch plaza”?

    Please share out the cost.

  161. Daniel Chan
    September 2nd, 2013 at 15:28 | #161

    Best nye this Wave. So jealous.

  162. Dong Dong Qiang
    September 2nd, 2013 at 15:30 | #162

    Wish I could own one of the unit here. Best location ever in the whole Penang island and mainland.

  163. Cheap
    September 2nd, 2013 at 15:31 | #163

    So cheap and affordable. Must grab one unit for investment tomorrow.

  164. J
    September 2nd, 2013 at 15:57 | #164

    Cisco retrenching 4,000 workers amid slow growth

    August 15, 2013

    NETWORK EQUIPMENT maker Cisco Systems, Inc. is cutting 4,000 jobs, or 5% of its work force, as it makes a fresh attempt to reduce costs and refocus on growth areas in the face of uncertain demand for its networking equipment

    Cisco Penang is affected?

  165. KC
    September 2nd, 2013 at 17:01 | #165

    Looks like Economic crisis going to happen again in Malaysia. Manufacturing is the only key source activity in penang island. Property market sure will be slow after this.

  166. Cheap
    September 2nd, 2013 at 17:03 | #166

    @J

    Definitely not affecting The Waze take up rate. Only few units left. You will regret if you don’t buy now.

  167. Ang
    September 2nd, 2013 at 17:06 | #167

    Can property market been crash or property value/price drop because of economic crisis? 1/3 of population in penang was depending on manufacturing job in bayan lepas. If jobless….for sure…deep trouble!!!

  168. ho
    September 2nd, 2013 at 17:07 | #168

    @KC

    I am confident with The Wave and PTS by Ivory. Good location with attractive pricing. Soon will see many international brands mushrooming here.

  169. Along
    September 2nd, 2013 at 17:09 | #169

    @Cheap
    Brother..RM900k+++ above is cheap? Can you share out what is the advantage of the wave?

  170. KC
    September 2nd, 2013 at 17:12 | #170

    The wave was too expensive for me..Probably will be looking for birch plaza or regency cheaper unit..

  171. KC
    September 2nd, 2013 at 17:16 | #171

    @J
    Any cisco company in penang? As i know, only subcon jabil& flextronics is doing the PCA.

  172. JJ
    September 2nd, 2013 at 17:40 | #172

    No Money no talk… Fresh graduate how to buy??? Now house all so expensive. I still remember during 2008 that time birch plaza was only RM350k…

  173. Cheap
    September 2nd, 2013 at 17:59 | #173

    @Along

    Location location location..

  174. condomana
    September 2nd, 2013 at 18:33 | #174

    @JJ,

    No money buy PR1MA loh….:) government so nice, they know you cannot afford decent apartment, purposely built some cheap apartment for you. building quality about the same as Birch The Plaza leh….:)

  175. May
    September 2nd, 2013 at 18:36 | #175

    Those working in OEM and CM Penang very scared to make big commitment, since 2years pay frozen, no increment, than profit sharing cut, this year many company going to reduce bonus payment, there will more manpower cutting wil take place next year onward, 1/3 population depending on factory willbbe affected. So dont over commit or park all ur money on property, anything can happen to property market, more control are introduce now, wil be dificult to find buyer for sub sales market. I know one of my fren involve property soeculatir club member force me to purchased sub sale property, after purchased process approved, i will get extra money, these speculator or property agent will find owner, just said the property price 500k, then the owner and buyer will meet to mark up the price to 600k, once the bank loan approved for 600k, according to agent the owner will return 100k to new owner or buyer, this whole idea sound stupid to me. wa

  176. min
    September 2nd, 2013 at 19:16 | #176

    RON95 price and Diesel price increase RM 0.20 /l by tomorrow.

    Inflation is coming.

    Wait for the advent of Post QE era (cost of borrowing will be increased) before you make any decision to buy.

  177. min
    September 2nd, 2013 at 19:23 | #177

    RM has been devalued since few months ago (from RM 3.0 : 1 US$ to RM 3.3 : 1 US$).

    The cost of borrowing from foreign fund is more expensive now.

    Therefore, our Overnight rate has to go up in tandem.

  178. min
    September 2nd, 2013 at 19:29 | #178

    From my observation on White Lily and Southbay Residence, their asking prices once reached RM1.3 million and above has gone done to RM1.2+ million.

  179. JJ
    September 2nd, 2013 at 21:37 | #179

    @condomana
    I hope so….But sure don’t have…different price sure different quality..

  180. john
    September 2nd, 2013 at 21:46 | #180

    If inflation come…sure everything will up in price..material up..and property sure up also..but no body want to buy…Sure many investor affected

  181. Angel
    September 2nd, 2013 at 21:49 | #181

    Buy for own stay is ok but don’t buy for invest. Please think twice before invest in property market now..Now even in subsale..less and less buyer already.

  182. condomana
    September 2nd, 2013 at 22:44 | #182

    @JJ,

    Got hope lah. Don’t be a sor chai and go buy that d’piazza at RM500k+ you know….:) Different price different quality? No lah, PR1MA land free mah. So with the same cost, you can actually build something nicer than PTS or D’Piazza…:)…Happy or not?..:)

  183. JJ
    September 2nd, 2013 at 22:54 | #183

    Haha..You untill now also think that you are talking to me like sor chai..Problem la u. Condomana..Don’t simply say this kind of bad word to ppl..Later you can not go back your home “brezza”…:)

  184. condomana
    September 3rd, 2013 at 00:03 | #184

    For those who not afford buy “The Wave” can consider buy brezza…tanjung tokong..I am staying that area. Need find house i can find for you as i am professional real estate agent with experience. Quality also better than PTs and birch plaza..

  185. ho
    September 3rd, 2013 at 09:36 | #185

    @condomana

    Brezza got water leaking problem leh… PTS much better and cheaper.

  186. funny
    September 3rd, 2013 at 13:27 | #186

    Even the REDHA guy worried on future subsale market, current measured by BNM caused the property market became flats, more curb he mention like RPGT hike will sub sale market down, This guy really worry on those 4 millions ppls invested on property if the price down, so selfish never bother abts other millions of ppls suffering due to speculation and price up.

  187. hi
    September 3rd, 2013 at 14:35 | #187

    Property price in penang might just up and up. GST and other kind of tax and currency devalued. All this factor might only drive property to go up even faster.

  188. condomana
    September 3rd, 2013 at 21:18 | #188

    @ho
    Really? How about birch plaza and birch regency? Any complaint so far other than the narrow track of car park?

  189. hi
    September 3rd, 2013 at 21:20 | #189

    @condomana
    Water leakage?RM 800k house water leakage? Throwing money into the sea..

  190. john
    September 3rd, 2013 at 21:28 | #190

    If GST implement…possible cement and sand or building material will wick up the price..of property..Later even worst…

  191. Orite
    September 3rd, 2013 at 21:30 | #191

    DIBS next year still have? Any one? What is the property market trend for penang in next year 2014? Still will up or flat..steady or going down?

  192. Economic Crisis
    September 3rd, 2013 at 21:39 | #192

    @john

    so why did property price go up by 30% in 2011-2012???? Was inflation this high… or did the developer just raise price to make more profit of stupid ignorant people like you????

  193. john
    September 3rd, 2013 at 21:54 | #193

    @Economic Crisis
    Get lost from here. Don’t use your finger point here and that without filtering through your mind. Or you already get lost your self since you only just few year back frm oversea..Such a funny ppl. If you want to comment just comment and do you simple point to ppl. No manners at all. Want retire already still want find problem and trouble with ppl.

  194. Orite
    September 3rd, 2013 at 21:57 | #194

    @john
    Hello guys, calm down. Only comment..don’t point to each other. Any one can give some opinion on how is penang property trend going to be by next year 2014?

    How is the path of property going to be for penang since the transaction is getting less and less…buyer less and less..But goods and material is up and up..

  195. condomana
    September 3rd, 2013 at 22:00 | #195

    @Economic Crisis
    Don’t be sor chai..Brezza still the best..property up and up!!

  196. ho
    September 3rd, 2013 at 22:37 | #196

    @condomana

    When water leak, it means owner’s financial health will be deteriorate. Good luck to your Brezza ya..

  197. condomana
    September 3rd, 2013 at 22:52 | #197

    Birch plaza,birch regency and the wave can not compare to breeza..because location issue. Tanjung tokong still the best. Going up to RM1000sqf soon…But PTS still very low..how to get local appreciation..I can not see any of appreciation here since the price was below 700k for both birch plaza and regency. No demand and less buyer i can say for PTS condo…

  198. condomana
    September 3rd, 2013 at 22:57 | #198

    Not worth at all to invest at PTS condominium..Poor return..and no value appreciation by this kind of condo. Still below 700k..No body going to buy…less demand..

  199. Owner
    September 7th, 2013 at 15:46 | #199

    Best investment area in Georgetown city Condo..Perfect for those who want to stay in city.

  200. JJ
    September 8th, 2013 at 15:41 | #200

    I hear that PTS condo phase 1&2 all going up to RM720k ++ by end of this year/beginning of next year january due to Price increasing and McDonald coming in???? True??

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