The Wave @ Penang Times Square

George Town/ 31 December 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

  1. Tempted
    December 24th, 2013 at 23:32 | #1

    Agent said sales extremely slow. Hard to sell..

  2. Eng
    December 25th, 2013 at 09:07 | #2

    1 unit for sell…Phase 1 RM720k 3bedroom fully renovated and furnish..Komtar view and phase 2 view..

    PM send if interested..

  3. Eng
    December 25th, 2013 at 09:08 | #3

    1 unit for sell…Phase 1 RM720k 3bedroom fully renovated and furnish..Komtar view and phase 2 view..

    PM me if interested..Thanks!

  4. Lim
    January 4th, 2014 at 12:11 | #4

    Birch plaza phase 1 only selling

    ~RM715k only
    ~Komtar View
    ~3bedroom, Rare in Market

    PM if Interested.

  5. Ong
    January 8th, 2014 at 19:21 | #5

    Ivory road show at Gurney plaza already sell at RM750psf above..

  6. Chong
    January 8th, 2014 at 20:00 | #6

    Birch plaza phase 1 for sale

    – RM690k only
    – 1050sqf
    – Komtar View
    – Rare in Market

  7. Kenny
    January 9th, 2014 at 20:33 | #7

    Phase 1 Birch plaza for sale

    *RM800k Nego
    *Move in condition
    *Fully renovated& Furnished
    *Komtar & The Central (new Soho) View
    *Fantastic location

    PM if interested!

  8. Kent
    January 9th, 2014 at 20:50 | #8

    Birch plaza phase 1 for sale

    – RM600k only
    – 1050sqf
    – Original condition
    – Komtar View
    – Rare in Market

  9. kk
    January 10th, 2014 at 12:18 | #9

    I am very interested. Which floor? Still can nego?? Is this komtar view? Kindly confirm. I was told by another agent is facing phase 2 poolview..

  10. Agent
    January 10th, 2014 at 19:15 | #10

    Very hard to get RM600k at phase 1.. Bcos majority selling in between RM670k to RM850k right now. If u looing for phase 2 then i can propose u a unit original RM620k.. PM if u interested.

  11. Penang
    January 11th, 2014 at 12:39 | #11

    Anyone know how much selling psf for ” The Central” by ivory at gurney plaza road show?

  12. jkl
    January 15th, 2014 at 18:39 | #12

    Awaiting the launch of phase 4

  13. Lim
    January 16th, 2014 at 23:58 | #13

    The wave is going to start construction on March 2014. We have already received call from Ivory and Bank for further action. Construction will be done on 2018.

  14. jkl
    January 17th, 2014 at 17:30 | #14

    What is the launching price for phase 4 The Central? Selling psf??

  15. PTS
    January 17th, 2014 at 17:49 | #15

    Yes. I just received call yesterday too by ivory. But i am more interested to know what is Ivory planning for Phase 3 shopping mall.. Anyone have news on this?

  16. Lim
    January 18th, 2014 at 00:37 | #16

    Phase 4 is start selling at RM500k onwards. It seen like very tall like 40 over floor. They told me there is a sky bar on top.

  17. PTS
    January 18th, 2014 at 19:05 | #17

    RM500k onwards how many sqf? Is this soho? How much psf? Very cheap..worth to buy invest. Please share.

  18. Ken
    January 18th, 2014 at 19:10 | #18

    Interest to know how is the package offer by Ivory for phase 4.. Any one already know? How much psf selling?

  19. rays
    January 19th, 2014 at 08:52 | #19


    I guess price with tag RM500k+ at town area must be very small only. Possible around 600sqf for RM500k++ i guess..

  20. Joey
    January 20th, 2014 at 23:29 | #20

    So far as what Ivory launched, the biggest unit is 700+ sqf with the selling price RM700+k. The smallest unit is 600+ sqf & the price is RM600+k. The staff told me that coming will launch unit with 1000 sqf.

  21. Joey
    January 20th, 2014 at 23:35 | #21

    Sorry for typing mistake just now. I am not sure whether The Central had launched or not. What I want to mean just now is the selling price, is from RM600K+ now.

  22. acro
    January 20th, 2014 at 23:54 | #22


    based on ur info, looks like the price is ~rm1000 per square foot

  23. Joey
    January 21st, 2014 at 03:58 | #23

    @ acro

    Yes, should be around that. They come with 2 bedrooms & 1 bathroom. It has 42 floors & Ivory reserved 10++ floors for future plan. The staff said is for hotel.

  24. PTS
    January 21st, 2014 at 09:39 | #24

    Then can i say this coming launch 1000sqf unit…price tag is RM1M++??
    It is even more expensive than Queywest residence at bayan mutiara..which sell at RM800psf.. Can i know it come with 1carpark or 2??

  25. Ck
    January 21st, 2014 at 10:43 | #25

    The Central = similar to 218 Macalister already.. Selling RM1000psf.. have extra foreigner buyer market..

  26. Joey
    January 21st, 2014 at 10:50 | #26

    I have same thinking with you, should be around RM1M since the 600+ sqf is selling at RM600++K & 700+ sqf is at RM700++K now. I don’t know it come with how many carpark.

  27. acro
    January 21st, 2014 at 10:57 | #27

    what is the main selling point for The Central?

  28. Ck
    January 21st, 2014 at 11:16 | #28

    I agree.. What is the selling point of The central? Anyone can share? Where is the plan for shopping mall? This is our concern before putting 1M into invest.

  29. oo
    January 21st, 2014 at 12:42 | #29

    Now all new town area house selling RM1000psf?? Expensive..

  30. Joey
    January 21st, 2014 at 22:45 | #30

    2 years ago, the initial selling price of the Wave was RM600k with 1200 sqf. Now, the initial selling price of the Central also around RM600k but the unit’s size only half of the Wave. Too expensive.

  31. Lim
    January 21st, 2014 at 23:03 | #31

    They are having 670 spf 1 room , 770spf 2 room and 1100 spf. Price after discount from 500k ++ onward. 42 floor + 5 storey car park so total 47 floor.I think it would be higher condo in Georgetown. I think the view is super, can see til mainland.

  32. rays
    January 21st, 2014 at 23:52 | #32

    What is the price tag of 1100sqf? RM 1M above? It is too expensive..Possible they are targeting foreigner buyer…

  33. ck
    January 22nd, 2014 at 00:17 | #33

    Price escalating so high for town condo..218 Macalister also selling at RM1000sqf last year. I can’t image how is the new project going to sell after GST implemented. Only those really rich only can touch those million millon house.

  34. Joey
    January 22nd, 2014 at 00:27 | #34

    I agree with you because there are quite many foreigners especially Japanese staying in phrase 1 & 2 now. So possible Ivory are targeting foreigner buyers. In fact, some of the phrase 1 & 2 units are own by Mat Salleh & Indonesian Chinese.

  35. Ck
    January 22nd, 2014 at 09:28 | #35

    Are u sure? Phase 1&2 most unit in range of RM650k to RM850k only.. So foreigner entie to buy below 1M property??

  36. david
    January 22nd, 2014 at 10:16 | #36

    That’s before the implementation ma. This clause only start Mid of last year, so now the foreigner can sell >1mil to thier buddy laio lol

  37. Buyer II
    January 22nd, 2014 at 11:03 | #37

    The sales is not encouraging, many units still available.

  38. Ck
    January 22nd, 2014 at 11:09 | #38

    Are u going to tell me phase 1&2 also might up close to 1M price tag in 3yrs time??

  39. Ck
    January 22nd, 2014 at 11:14 | #39

    @Buyer II
    1M how to buy?? Too expensive.. Foreigner might buy..but sure less local ppl going for that

  40. Joey
    January 22nd, 2014 at 13:31 | #40

    David is right, they bought before the new rules implement last year.

  41. rays
    January 22nd, 2014 at 14:24 | #41

    Anyone knows the plan of shopping center at phase 3? Below the wave…. Noone is going to buy if 1000sqf with tag of RM1M and no attraction..

  42. Lim
    January 22nd, 2014 at 15:52 | #42

    The Wave still a better option because it only RM900++ with 1350 spf. Lower den compare to the Central.

  43. Ck
    January 22nd, 2014 at 16:32 | #43

    Are u telling RM900k++ for 1350sqf at the wave? Or selling at RM900psf?

  44. keong
    January 22nd, 2014 at 16:45 | #44

    I don’t think we manage to get below RM1M for the wave now… All above 1M on market now. Pls check at ivory office

  45. Buyer II
    January 22nd, 2014 at 18:33 | #45

    keong :
    I don’t think we manage to get below RM1M for the wave now… All above 1M on market now. Pls check at ivory office

    No wonder can’t sell..

  46. rays
    January 22nd, 2014 at 19:06 | #46

    @Buyer II
    How many of penang ppl can actually willing to put RM1M in condo? The answer i can tell u is very very minimum. I believe this project “the central” is targeting for foreigner market instead for local. 1M for 1000sqf++ this is a joke.

  47. Buyer II
    January 22nd, 2014 at 19:43 | #47


    Andaman at Straits Quay all more than 1M but sold out, depends on location. This location so so…

  48. rays
    January 22nd, 2014 at 20:07 | #48

    @Buyer II
    This location advantage is in the middle of City of Georgetown and convenient for eating and everything also just in walking distance..but bad thing is surrounding by pre war house..no much nice view..and shopping mall downstair phase 1,2,3 is a question mark here. No attraction and no seaview…Nobody will put 1M for 1000+sqf at this location.

  49. Lim
    January 22nd, 2014 at 21:49 | #49

    Now they are having 10% + 5% for CNY promo. 1 mil ++ after 15% discount should be 900k++.

  50. rays
    January 22nd, 2014 at 22:03 | #50

    How can 1000sqf selling at RM900k++?? It seen like Ivory selling more than RM1000++psf. This is very expensive. Rather than choosing this new project..why not i buy at phase 1 birch plaza now the ranging price around RM650k to RM850k only..Any specialilty for ” the central”? Phase 1 and 4 is very much similar location. And both also 1000sqf++..What is the selling point of ” the central”?

  51. ck
    January 22nd, 2014 at 22:06 | #51

    I agree with u.

    ” The central” selling at RM1000psf with 1000sqf++
    “Birch plaza” selling at RM650psf with 1070sqf.

    The price range between this 2 property is huge and both are almost i can say is allocated at same location with just a Mcd birch house in between.

  52. Buyer II
    January 22nd, 2014 at 22:32 | #52

    Look at their margin, can even give 15% discount. Buyers not stupid now ok… I am sure later they will give more perks or delay a few more years for the S&P..

  53. rays
    January 22nd, 2014 at 22:39 | #53

    @Buyer II
    That’s what i say..won’t go for phase 4 “the central” because selling price is RM1000psf..I believe sure will delay..no worth and later they might delay s&p..Good luck for all the buyer. Penang time square is dead if the shopping mall not success..Sure fail..

  54. Huat ar!
    January 22nd, 2014 at 23:38 | #54

    I believe all the penang condo might move torward RM1000psf for prime location and similar also for new project. No surprise if they selling at RM1000psf. This is market trend.

  55. Lim
    January 23rd, 2014 at 00:12 | #55

    No matter the mall success or fail, it would not effect the condo. Phase 1 and 2 already a proven. Because of it location, it is very good for rentals. Rental on Birch Regency are range for 2k to 3k.

  56. Joey
    January 23rd, 2014 at 02:25 | #56

    Few weeks ago somebody told me that Ivory had sold the mall but not sure how true is it. James Foo western food is going to open in Feb. Station 1 Café also soon. So if the management can continue to bring in more food outlets, for sure can attract many crowds & make there happening, just like Four Season Place. In fact Times Square location is very strategic, it is at the center, easy & convenient to access to other parts of Penang.

  57. rays
    January 23rd, 2014 at 09:22 | #57

    Ivory sold the mall?? Phase 2 or phase 3?? No news.. Ivory project is always very slow..All season park is rather more success than PTS..

  58. sv
    January 23rd, 2014 at 09:41 | #58

    Ivory sold the mall? Hard to believe, as a public listed company, any land disposal will have to publicised.

  59. Dong Dong Qiang
    January 23rd, 2014 at 09:50 | #59

    With more shopping malls coming around all over Penang, and IKEA at Batu Kawan, don’t think PTS has chance to survive. Mall needs catchment area. PTS location is too isolated.. good luck to those that still put hope on it…

  60. Ck
    January 23rd, 2014 at 12:38 | #60

    Anyone know ivory sell the mall to who?? This is the interesting point..

  61. Joey
    January 23rd, 2014 at 14:42 | #61

    I also heard from somebody, I don’t know which mall & also don’t know how true is it. But as what I know is Ivory sold the phrase 2 commercial multilevel car parks end of last year.

  62. Joey
    January 23rd, 2014 at 14:45 | #62

    Also sold the phrase 1 commercial multilevel car parks. If Ivory really sold the mall, I think it might be a good thing since Ivory has no experience to manage & running a mall.

  63. KL
    January 23rd, 2014 at 14:45 | #63

    Times square…no hope.. Unless shopping mall is that..

  64. KL
    January 23rd, 2014 at 14:48 | #64

    Question is who buy the mall? And what is their improvement plan?

  65. Joey
    January 23rd, 2014 at 14:50 | #65

    That’s why I said if Ivory really sold the mall, it could be a good thing. If it sold to other experience company like Capital Holding which manage & running Gurney Plaza & Queensbay mall successfully, then Times Square will be another happening place in Pg.

  66. Joey
    January 23rd, 2014 at 14:52 | #66

    I do wish to know too but don’t have any source.

  67. KL
    January 23rd, 2014 at 15:19 | #67

    I will be surprise if capital mall going to take over PTS as the owner own all the shoplot and is hard to manage..

  68. KL
    January 23rd, 2014 at 15:34 | #68

    anyone know who is buying times square?? Pls chk before invest. Dangerous.

  69. Huat ar!
    January 23rd, 2014 at 19:26 | #69

    Yes. Need check the plan and status before invest. I really have doubt on PTS future plan.

  70. Joey
    January 23rd, 2014 at 20:42 | #70

    @Huat ar!
    How to check? Any idea?

  71. Joey
    January 23rd, 2014 at 20:51 | #71

    I just giving an example, not meant is Capital Holding take over it. It is a big waste to let such a nice place getting sleep. Ivory will be given 10% discount & 5% rebate during this CNY period. So The Central price should be start from 500++K after these.

  72. KL
    January 23rd, 2014 at 21:14 | #72

    That’s why i am telling that this property no longer worth for investment. Because the shopping mall is the issue here.

    If we manage to know what is Ivory next plan and which company going to take over the mall. Then we have confident to invest. RM500k+ is come with how many sqf? Do you think this is worth to buy from your point of view with this location?

  73. Owner
    January 23rd, 2014 at 21:36 | #73

    For your info, Times square condo base on bank valuation unfurnish unit can get at RM660kfor 1000sqf unit. And fully furnish unit maximum can get at RM800k depend on how is the renovation condition.

    RM1000psf at Georgetown area is very common. Even 218 macalister also selling above RM1000psf++.

  74. Joey
    January 24th, 2014 at 00:19 | #74

    RM500+k for around 660 sqf. It is not cheap because of its location. But in my opinion, Times Square is worth to buy if compare to those condominiums at Tanjung Seri Pinang area. That is a reclaimed land but the price are more expensive. Times Square location is very strategic as it is at the center & very convenient to access to other parts of Penang. Thus, it worth the price.

  75. Joey
    January 24th, 2014 at 00:36 | #75

    Most of the condominiums in Penang island are without any shop lots or malls but they do fetch a good price too. In fact Times Square condominium (phrase 1 & 2) are quite a nice place to stay. Thus, it attracts many foreigners to stay in especially Japanese & the rental return is very good. For a 1000 sqf unit, the rental could be up to 3k+ if it is fully renovated & furnished.

  76. KL
    January 24th, 2014 at 09:36 | #76

    Can i say local appreciation is low for this project?

  77. leo
    January 24th, 2014 at 13:24 | #77

    Where is the jusco? No action then times square is dead..

  78. pop
    January 24th, 2014 at 18:50 | #78

    From my point of view, times square condo is consider cheap compare with pulau tikus and tanjong tokong area..Very convenient.. Eating just in walking distance..coffee shop.. Nice location.

  79. pop
    January 24th, 2014 at 19:01 | #79

    PTS condo is a nice place to stay actually.. Convenient place to go anywhere..

  80. kim
    January 24th, 2014 at 19:41 | #80

    Even this location is nice..but no one willing to give 1M in this location to get just a unit of 1000++sqf..I don’t think it worth..due to location issue. Even phase 1 and 2 base on market value is fetch around RM700k++

  81. lee
    January 24th, 2014 at 20:09 | #81

    I believe most of the owner might increase the price of selling if they wan sell bcos phase 4 launch with RM1000psf..And material all increase

  82. Hr
    January 24th, 2014 at 20:25 | #82

    If you are able to sell at Rm 600 psf you are considered lucky.

  83. Tris
    January 24th, 2014 at 21:14 | #83

    Then everyone is very lucky for sure!

  84. leo
    January 24th, 2014 at 21:44 | #84

    How many of buyer interested to buy at this location actually? Please go and check..sale is very slow i can tell u.

  85. Lim
    January 24th, 2014 at 22:53 | #85

    Now all the developer sale are slow not only here.

  86. Lim
    January 24th, 2014 at 22:55 | #86

    Btw it is RM800 spf not RM1000 spf.

  87. Joey
    January 24th, 2014 at 23:00 | #87

    Currently the selling price of Times Square phrase 1 & 2 already around RM700 psf.

  88. Joey
    January 24th, 2014 at 23:05 | #88

    Not only this project sale slow down but almost all new developments do.

  89. Buyer II
    January 24th, 2014 at 23:53 | #89

    Slow sales sure give pressure on phase 1 & 2 subsales as well… tough time ahead for PTS…

  90. Joey
    January 25th, 2014 at 01:45 | #90

    @Buyer II
    Not only for PTS but I believe for those properties above RM600k. High inflation rate cause living costs getting higher & higher, some more bank loan tighten up, very hard to get loan now. So for a family with total income below RM8k per month, it is hard for them to afford a property above RM600k. For a RM600k property, one month loan instalment + maintenance fee around RM3k. Now usually husband 1 car, wife 1 car, so instalments RM1.5k-2k. Daily food expenses + petrol + medical insurances + children education funds + children tuition fees etc…so end up how much? According to statistic, more than 70% of Malaysians income are below RM5k per month & majority are in the range of RM2k to RM4k. So it is really a tough time now.

  91. Joey
    January 25th, 2014 at 01:51 | #91

    Typing error, suppose in the range of RM2k to RM3k as what I read from newspaper before.

  92. J
    January 25th, 2014 at 06:01 | #92

    Not a correct analysis to take M’sia overall GDP to reflect in Penang.

    Penang is the state with the highest GDP per capita in Malaysia after Selangor and Johor

  93. Jing
    January 25th, 2014 at 12:29 | #93

    2014 is a tough year for everyone. All property sale might slow in penang. For property above RM700k sure is slow. Same for PTS. Location is very convenient and nice. But market is slow.

  94. Hr
    January 25th, 2014 at 12:39 | #94

    Why Sandilands units are all sold out comparing to PTS ?

  95. Joke
    January 25th, 2014 at 15:15 | #95

    It is bcos penang guy prefer the smell of sungai pinang ma and the unit also cheap and big.. PTS so exxpensiv.. Where gt ppl want to buy??

  96. Hr
    January 25th, 2014 at 16:57 | #96


    Why is PTS expensive ? Not only RM 350k – RM 400k when bought in 2007 ?
    Even Summer Place with leasehold tenure are more preferable, you pick the
    wrong one ?

  97. Joke
    January 25th, 2014 at 17:53 | #97

    Sorry u are the wrong 1. I am not PTS owner. I am landed property owner… Haha.. RM350k?? Pls chk again. It is only RM250k my dear. Giving all the wrong info u..

  98. Penang
    January 25th, 2014 at 17:58 | #98

    Guys no matter which property also, we need to appreciate that we are lucky as everything is increase. Can even earn a property or condo in penang we should be proud nw. Thanks!

  99. property
    January 27th, 2014 at 13:23 | #99

    Can any one confirm the info? Selling price phase starting from RM800psf or RM1000psf?

  100. canon
    January 28th, 2014 at 00:06 | #100

    As i call to Ivory office..Their selling price psf start with RM850psf. 1000+ sqf for ” The central” will be selling start from RM930k above.

  101. Lim
    January 29th, 2014 at 10:09 | #101

    macalister 218 start from RM1100 psf. The Central start from RM850 psf. If we take 1000 sft as standard. Then it would different RM250000 for a unit of condo.

  102. Location
    January 30th, 2014 at 12:38 | #102

    Location not different much..same same town area..Both also jam jam area..

  103. Don’t Play
    January 31st, 2014 at 09:53 | #103

    “The wave” selling at almost 1M for smallest unit for 1255sqf.
    “The Central” selling RM930k onwards for unit of 1000sqf++

    Just check at Ivory road show.

  104. Buyer PTS
    January 31st, 2014 at 15:15 | #104


    @Don’t Play
    Just come back from Ivory property show.

    ” The wave” Selling from RM970k ~almost 1M for smallest unit 1255sqf on market value.
    “The central” smallest unit 665sqf selling starting from RM560k after discount.
    780sqf selling from RM725k
    1140sqf selling from RM1.1M onwards..

    It is quite shock to know that 1140sqf are selling at RM1.1M onwards for komtar view unit according from Ivory.

  105. PWC
    January 31st, 2014 at 16:25 | #105

    @Buyer PTS
    Wah..PTS condo selling much more expensive than Penang world city. Really expensive. Almost RM1000psf..Selling 1140sqf with RM1.1M…~~

  106. Buyer PTS
    January 31st, 2014 at 16:35 | #106

    Yes. It is too expensive. And i hear from saleman saying that ” The wave” going to start the job already by next month. And phase 4 might start at mid of 2015. With this kind of price tag, all “The Wave” owner can even sell their unit with RM1.2M++ above already after completion. HeHe

  107. Land Bank
    February 1st, 2014 at 08:12 | #107

    @Buyer PTS
    No more land in Georgetown already. This is probably the final project in the city of buidling condominium. Others all can not build condo anymore as it is under protected for UNESCO.
    So Ivory are selling at such a high price.

    PTS phase 3 they are selling around RM800++psf for balance unit and The central still under preview stage but the price might come around RM1000+psf by next year duringofficial launching time. I was told by them 1140sqf seaview might sell starting from RM1.15M++above.

  108. Lim
    February 1st, 2014 at 10:55 | #108

    Yes. I think so. This would be the final land on heart of the Georgetown area.

  109. OMG
    February 1st, 2014 at 13:51 | #109

    @Land Bank
    OMG..Selling almost RM1000psf..Penang property gone crazy already..Question is this worth to invest?

  110. Ron
    February 1st, 2014 at 14:22 | #110

    Definitely No.

  111. OMG
    February 1st, 2014 at 14:58 | #111

    Yes i agree..Got value but no demand…Where is the attraction and selling point for this times square property?

  112. Land Bank
    February 1st, 2014 at 21:50 | #112

    I believe the selling price of phase1&2 might increase to above RM700k++minimum when march or april coming due to the preview of “The central” selling 1140sqf at RM1.1M++

    And “The wave” going to start kick off the job already at march. Checking with Ivory
    1255sqf for “the wave” selling at RM970k~~1M after discount by their so called good CNY package. Town area really running out of land already.

  113. Lim
    February 2nd, 2014 at 13:33 | #113

    3 years ago when propeties price gone up to rm 500 psf everyone also say it crazy and will not increase anymore but today when you look back, you feel that RM500 is very cheap. I think price are very depend on location. Just like Gurney and queyside are selling 1300 psf onwards. Town area are 800 to 1000 psf.

  114. El Lobo
    February 2nd, 2014 at 13:57 | #114

    If there is a lke button just like FB, I would have activated the like button for your comment. I find your notion sensible. As long as this thing called infaltion is ingrained symmetrically with economic growth, hard to see prices coming down, unless a major correction to economy, in a deflation climate or global/regional economic depression. Having articulated this, stagflation is a whole different animal and will be a game changer to the property market. @Lim

  115. Jane
    February 2nd, 2014 at 16:58 | #115

    Just pass through Gurney ivory road show today. The sale of The Central for 665sqf is not so encouraging.

    But for unit 1140sqf which is selling at RM1.15M++ above quite many buyer already book the unit. Others 780sqf and 665sqf still many left.

    I have been told by them “phase3 &4 ” is coming with only 1 carpark lot and is under commercial title. Definitely not cheap…GEorgetown is really expensive too right now other than Gurney and straits quay.

  116. Ong
    February 3rd, 2014 at 08:49 | #116

    Now everything is expensive..Very tough. Georgetown condo already selling start from RM750sqf to RM1000sqf onwards for old or new condo project. Plenty more to come..GST somemore..soon. If Georgetown condo reach at RM900psf no surprise.

  117. walao
    February 3rd, 2014 at 21:16 | #117

    Land of penang keep escalating..

    Tanjung tokong RM1000psf to RM1200psf
    Georgetwon RM750psf to RM1100psf

    Very surprise..

    Farlim and paya terubong new project also fetch with price around RM600psf to RM700psf.

    No Surprise all the town area project and condo house selling with RM800psf onwards. No land at town area already. Everything of price keep escalating..If the wave no discount, after CNY the balance unit might sell with RM1.1M above.

    The central wondering who will buy as the price is at top of ceiling already fetching RM1.2M++ depend on the floor..The higher will be more expensive..

  118. Owner
    February 3rd, 2014 at 21:54 | #118

    I have 1 unit for sell at phase 2

    *partially furnish
    *partially renovated
    *rare in market
    *asking price RM765k Nego

    PM me if interested.

  119. popular
    February 3rd, 2014 at 21:59 | #119

    After going to Ivory road show..I might not sell my phase 1 unit anymore…I would like to wait for around 3 to 4 years more for invest as we can see the selling for phase3&4 is above RM1M++..Keep our unit for invest..

  120. kenny
    February 4th, 2014 at 17:07 | #120

    For your info, Phase 4 corner unit 1140sqf 70% already booked!!!

    1140sqf with price tag of RM1.2M++ above….Genius genius..Penang lang too rich..

  121. ong
    February 4th, 2014 at 19:33 | #121

    Not sure the reference is correct.

    In Jelutong/Batu Lanchang, Central Park, H2O & Strait Garden are still at RM500-600/ft.

  122. hu
    February 4th, 2014 at 20:36 | #122

    Definitely speculated by rich and famed only… Sit back and watch the show…

  123. kenny
    February 4th, 2014 at 21:48 | #123

    Info is definately correct..Even the phase 4 studio unit selling at RM570k with just 665sqf after package offer 10+5% discount by developer…If no discount the price is up to RM1000psf around that..1140sqf already many booked…But studio 780sqf and 665sqf many left…huhu..Lets see what is the penang lang buying force and capability..

  124. 1 M
    February 5th, 2014 at 13:35 | #124

    Times square house might reach up to 1M price tag in 3 yrs time due to foreigner demand and speculation on phase 3&4. 1140 sqf with tag now RM1.2M from developer.. This is too expensive..

  125. U mobile
    February 5th, 2014 at 18:45 | #125

    @1 M
    Now is on the trend towards RM750k..By end of this year we should have see quite many unit asking for RM800k. Ivory already selling with RM1000psf..

  126. Lim
    February 5th, 2014 at 19:36 | #126

    Sunway is going to build at Paya Terubong at RM600 to 700 psf. If town area selling at RM800 psf should be very reasonable.

  127. 1M
    February 5th, 2014 at 21:29 | #127

    @U mobile
    If reaching ~~ 1M will have extra market to explore..Foreigner..matsaleh market…

  128. popular
    February 5th, 2014 at 22:39 | #128

    That’s right..selling in range of RM750psf to RM800psf is quite reasonable right now in town area. New project in town is RM900psf to RM1100psf.No more land in town area already.

  129. jess
    February 7th, 2014 at 09:06 | #129

    Any one can share how is the take up rate for phase 4 at gurney roadshow?

  130. Land Bank
    February 7th, 2014 at 14:14 | #130

    Times square house already set a new guildline…That is selling RM1100psf by Ivory on The Central.

  131. City
    February 8th, 2014 at 22:42 | #131

    Phase 3&4 both come with only 1 car park..1Million++ price tag with only 1 car park..Expensive expensive…Salesman say 1 car park worth RM60k @.@

  132. PTS
    February 10th, 2014 at 23:43 | #132

    The pick up rate for corner unit for the central looks progressive…But for SOHO unit look many left..If you look for 660sqf..U can try get it..but is starting from RM1000psf..

  133. ong
    February 13th, 2014 at 06:04 | #133

    If the price is $1000/ft, why not you look for condo in Gurney area?

  134. U mobile
    February 13th, 2014 at 12:19 | #134

    Haha..correct.. But depend on u. Some ppl prefer town area..go market easy..school easy..coffee shop easy.. Shopping easy.. Some prefer gurney..value appreciation is high.. Lifestyle living

  135. Lim
    February 13th, 2014 at 19:38 | #135

    I heard part of the central will use as hotel. From floor 6 to 19 is hotel and floor 20 to 38 is condo, rooftop is sky bar. Anyone got info about it?

  136. Yeah
    February 13th, 2014 at 22:26 | #136

    That’s right..That’s why The central selling at such a high price..I believe all Times square house might reach RM1M in 3 to 4 years time due to the limited land in the town..No more project in town.

  137. Huat
    February 13th, 2014 at 23:14 | #137

    @U mobile

    Ah? Go which market easy? Go which school easy?…..:)…Hahaha…..siao!..In fact, that is probably the worst place to stay, because go anywhere also jam!!


    The biggest problem with Times Square is the mall downstairs. If it continues to be vacant like what it is today for another 10 years, all those staying up there in the condos would be staying on top of an “empty slum”!

  138. Joey
    February 14th, 2014 at 01:17 | #138

    The nearest market is Kuantan Road market by walking. Anson market also very near & finally Chowrasta market. Easy access to Convent Dato Keramat, St. Xavier High School, Union High School, Heng Ee High School & Chung Ling High School also just within 15 mins. In my opinion, Tg Tokong, Bayan Baru, Sg Ara, Paya Terubong, Farlim & Ayer Itam are more jam than Georgetown.

  139. Joey
    February 14th, 2014 at 01:24 | #139

    In fact PTS is very near to markets. Can go to Kuantan Rd market by walking, Anson Rd market & Chowrasta market also not far away. Easy access to many high schools, Convent Dato Kramat, St. Xavier, MGS, MBS, Union, Heng Ee & even Chung Ling just about 15 mins. Which area in Penang island not jam?

  140. pub
    February 14th, 2014 at 09:50 | #140

    Is the noisy pub at the mall still operating? There are several of them right? I heard they keep changing owner and theme. No peace of mind at all when want to sleep..

  141. Lim
    February 14th, 2014 at 10:45 | #141

    I stay in PTS p2. It totally very peace and quiet at night. I think it is because the pub is underground and it is a distance to residents. PTS is very worth to invest because good in rental return. Easily 2k to 3.5k.

  142. Buyer II
    February 14th, 2014 at 10:53 | #142

    Only a few luxuriously furnished, large units able to fetch 2k rent… Once The Wave and Central completed, rental will sure drop… compared to 5-6k monthly installment, anyone who know how to count would know it is not a good investment….

  143. PTS
    February 14th, 2014 at 10:54 | #143


    Oh ya, the pubs at night. Ivory is housing their “performers” at the pubs at the unsold units in Phase 1 & 2. And remember the incident last year, whereby a bouncer got shot by a rival gang member outside one of the pubs. Hmm…now come to think of it, doesn’t seem like a nice place to live at all!


    What? Walk to Chowrasta market from time square? You must be kidding! Why torture yourself staying there??…:D

  144. pub
    February 14th, 2014 at 11:15 | #144


    But i saw the indian pub at the corner always had big party outside. Not sure it is underground or open air. Maybe your unit is at the other corner or already get used to it.

  145. Lim
    February 14th, 2014 at 11:32 | #145

    @Buyer II
    my neighbour rented 2k unfurnished. and a lot is rented 2.5k with normal furnish.

  146. hello
    February 14th, 2014 at 11:40 | #146

    Yes. That’s right.. I agree phase have a very good relaxing area..

  147. Tung
    February 14th, 2014 at 11:44 | #147

    If you say PTS is not a nice place to stay… Can u propose and share us which condo is nice? You are welcome to give your opinion..

  148. Buyer II
    February 14th, 2014 at 12:08 | #148


    My friend’s unit until now still cannot rent out. Not many people called. Maybe can ask him to advertise his unit at the lift since his unit is reno and furnished. Should be able to steal the tenant from your friend.. just joking…

  149. hello
    February 14th, 2014 at 12:56 | #149

    @Buyer II
    You friend unit is phase1&2?? Facing which view?? 3room & 2???

  150. Buyer II
    February 14th, 2014 at 14:41 | #150


    Need to ask him.

  151. Lim
    February 14th, 2014 at 14:58 | #151

    hi. that is no a pub. Just a restaurant call Indian Palace. Sometimes they is a Indian Cople will used it for wedding.

  152. Lim
    February 14th, 2014 at 15:41 | #152

    @Buyer II
    Hi. I think he need to find a good agents. A good agents will have a lot of contact. Some ppl wanna save broker fee and wanna rent by own, it really difficult. No need to put ad inside the lift.

  153. Joey
    February 14th, 2014 at 21:03 | #153

    Haha, pls read carefully. I was saying that can go Kuantan Rd market by walking.

  154. Joey
    February 14th, 2014 at 21:21 | #154

    I agree with you. For those who really wish to rent/sell their property, the fastest & easiest way is thru housing agents. The more agents you get, the more faster your unit can be rent/sell. Every time when I want to have any property dealing, I will pass it to 4 or 5 agents. Some of the agents really very efficient. Usually I can get what I looking for in 1 month time.

  155. Joey
    February 14th, 2014 at 21:27 | #155

    @Buyer II
    If large & luxury unit, the rental fetch easily RM3500.

  156. Joey
    February 14th, 2014 at 21:28 | #156

    @Buyer II
    If large & luxury unit, the rental easily can fetch RM3500.

  157. The Waves
    February 17th, 2014 at 09:21 | #157

    No response from Ivory yet for the development of “Phase 3”. Still empty space with sand and cement..

  158. Rays
    February 17th, 2014 at 23:26 | #158

    3 bedroom unit already RM700k mini at current market value..For your info..

  159. PTS
    February 20th, 2014 at 21:38 | #159

    @The Waves
    At last, Ivory have some action and movement on the phase 3 already…Going to start the job already.. Waiting for 3 years…~~

  160. hello
    February 24th, 2014 at 12:12 | #160

    3yrs.. Now start clear the land..

  161. michelle
    March 14th, 2014 at 16:34 | #161

    If anyone who like to sell their unit in phase 1 or phase 2 below RM650k with nice furnished and renovation, kindly contact me. I am a buyer. Preferably direct owner. Thank you

  162. TP
    March 18th, 2014 at 07:40 | #162

    You will never get a unit with nice renovated and furnish with below 650k at current market.Nice renovation mostly in range of 730k to 800k. At phase 1 you can get unfurnish and original unit 2bedroom at 650k&above..

  163. Ninjago
    March 18th, 2014 at 10:28 | #163


    Is it for own stay or investment?

  164. JT
    March 18th, 2014 at 12:51 | #164

    People like you still think naively. So of Michelle say for own stay then you sell her cheaper is it?

  165. Ninjago
    March 18th, 2014 at 13:02 | #165


    Nope. If for own stay, I want to tell her it is not nice to stay there. And then I will recommend her something better….:)

  166. Frank
    March 18th, 2014 at 23:06 | #166

    5 years ago, i was waiting for the right time to buy property. end up with regret now…
    Singapore property market, for the past 8 years, the property price has rise more than 110%.
    My 2 cents worth of opinion, like Singapore, Penang is another island with limited land. You decide… : )

  167. vince
    March 19th, 2014 at 12:56 | #167

    Can you share us which place u think is good for own stay?? Interested to know..

  168. grt
    March 19th, 2014 at 13:48 | #168

    It is very much a personal preference when come to property selection. However when following the golden principal of “Location, Location, and Location”, there aren’t many places in the island to consider other than:

    1) North-east – pulau tikus, gurney, tg toking, tg bungah
    2) Georgetown
    3) coastline along jelutong to queensbay;

    these places provide good connectivity with expressway, good amenities (schools, shops, shopping complex and etc), and last but not least, exclusiveness (seaview, integrated development, promenade and etc).

    Bayan Baru is coming up strongly as a satellite city which can be self-sustained. Sg. Ara and relau has many new projects coming up, but mainly individual standalone condo projects and lack of integrated development which will make the place unique. Air Itam is a tourist place and crowded with old housing projects, you know what I am talking about. Batu maung/teluk bahang are coming up after the 2nd bridge, but will take time.

  169. Ninjago
    March 19th, 2014 at 13:58 | #169


    Let me share with you why TimeSquare Phase1 & 2 not good for own stay.

    (1) Pretty bad location with bad air quality, and noisy surroundings.
    (2) Poor neighbourhood, mostly slum around the area
    (3) Sad looking mall sitting downstairs, which is a ticking time bomb, slowly turning into a haunt for drug addicts.
    (4) Again, location problem. It is located near noisy entertainment outlets.

  170. vince
    March 19th, 2014 at 15:08 | #170

    Thanks for sharing on this. Agree to u. But u still not answering my question..where is the location u personally feel good to stay?? Condo…Interested to know..

  171. Joey
    March 21st, 2014 at 00:40 | #171

    How come expatriates like to stay in PTS? For sure there are a lot of advantages to attract them.

  172. Frank
    March 25th, 2014 at 17:41 | #172

    (These are solely my personal opinion, pls do not get offended if there is any)
    PTS is building on a UNESCO site, no more high rise is allowed around is area as I noticed. I have travel to many countries & cities. The property in many country has a premium if the property concept similar to PTS. Singapore is one of the good example. I will think that maybe some of the local penangist still not use to the concept & prefer the conventional kind of condo. No right & no wrong. It’s up to individual.

    I am disagree with Ninjago’s opinion, PTS location isn’t bad at all. I went around the PTS & found it’s not as described as ‘poor neighborhood & slum’. Bad air quality & noisy environment also depends on individual opinion, some people like to stay near to the airport but some refused. The simple reason is noise & air pollution. Agree that the mall isn’t any shops are functioning now due to developer’s mistakes that refuse to sell the lots instead of plan to rent it out. But by looking as a whole complete project, it has potential to shine in future. The entertainment outlet mostly are one of the factor that making a place becoming prosper. (Got to know that phase 4 PTS is selling at 1000 psf, the response is encouraging too)

    What the developer can do is, simply offer 1 or 2 years free or discounted rental to all shops by attracting them to start their business in PTS. It’s a win-win situation. This is what capital mall did to their less popular mall in Singapore & it’s proven works now. One of the example was Jurong Point that has deserted or less popular & it has became so vibrant now. The mall has expanded twice in recent years. (Look at how capital mall manage both Gurney Plaza & Queensbay Mall, and the upcoming Gurney Paragon)

    Again, there is no right & wrong, remember how property price at Strait Quay was & now? When I bought the shop lots at Strait Quay years back, I receive so many criticism from my closed friends. We’ll time will tell. Property is a long term investment and require some luck sometimes, require trust in yourself & able to foresee a further future.

    Singapore government always able to foresee 5 to 10 years ahead compare to other neighboring country, that’s the reason what Singapore is today. Looking at what & how the New Penang government did/contribute for these years, I am very sure & confidence that the New government’s leaders will lead the island into a new chapter, prosper & abundance. Cheers :)

  173. tcc
    March 28th, 2014 at 11:25 | #173

    Whatever works in Singapore, may not work in Penang. Penangites simply do not have the same density nor spending power as compared to Singaporean. Furthermore, the public transport system in penang is lightyears behind Singapore, there is nothing that can commute crowd directly to the front entrance of shopping complex like Singapore’s MRT does.

    Ivory has no experience in managing the mall, that’s the fact, not to compare to the world class Capital Mall, even a local jagohs Hunza and belleview proved much efficient when come to this. The wise thing for Ivory to do is to sell the mall away, lets someone who knows better to do the job. They can fully focus in residential in this case, win-win-situation, just pretty that there is no rental income appears under their stock financial report.

  174. ush-ush
    March 28th, 2014 at 13:44 | #174

    Agree Ivory is vy suck at managing the malls….they only want to sell off those shoplots asap…….oh ya Gurney Paragon is managed by Hunza (not Capital Mall), but still way way better than Ivory :)

  175. Frank
    March 28th, 2014 at 21:13 | #175

    We’ll said, developer should focus in their area of expertise :)

  176. Helen
    April 26th, 2014 at 17:15 | #176

    The wave no progress….. This project already abandon??? So long already..

  177. Charles
    April 26th, 2014 at 18:24 | #177

    The Bay Residence same…. no progress… don’t know what are they waiting for..

  178. RoseChan
    April 26th, 2014 at 21:52 | #178

    @Helen, Charles

    This is very typical of Ivory. This is their typical launching sequence :-

    (1) Internal Launch.
    (2) 12 months later, VVIP launch
    (3) Another 6 months later, Pre-Soft Launch
    (4) Another 6 months later, Soft Launch
    (5) Another 6 months later, Preview Launch
    (6) Another 6 months later, Pre-Official Launch
    (7) Another 6 months later, Seriously-No-Joke Pre-Official Launch
    (8) Another 6 months later, Final Pre-Official Launch
    (9) Another 6 months later, Oh Man Finally Official Launch
    (10) Another 6 months later, Sign S&P
    (11) Another 36 months later, project OC

    So, don’t kan chiong lah. Still a long way to go.

  179. Helen
    April 26th, 2014 at 22:22 | #179

    i already they are asking bank to proceed on loan proces.. But it is really too long.. And they are focus on city mall project..

    Anyone can share when this project can start the job officially..Almost 3yrs already since the preview launching stage..

  180. Tww
    April 27th, 2014 at 09:22 | #180

    Snp dated 31dec2013, construction period 3 years, this is already finalize, dunno what u guys fussing about

  181. Shawn
    April 27th, 2014 at 09:55 | #181


    You missed out the time needed for them to stamp the snp… which stage are they now for The Wave?

  182. Helen
    April 27th, 2014 at 12:26 | #182

    But the land still empty lot..nothing is progress.. Week by week past..

  183. Tww
    April 27th, 2014 at 14:58 | #183

    So? If project not completed on time they have to compensate the buyer, so ivory should feel more worry instead. Furthermore, Ivory is public listed company with flagship projects such as pwc, what’s there to worry? They won’t run away, it’s safe.

  184. Chocolate
    April 27th, 2014 at 17:30 | #184

    Last time i also heard a lot said GCL wont run away..

  185. Tww
    April 27th, 2014 at 18:02 | #185

    Safest don’t invest in anything, everything has risk, put your money into fix deposit

  186. Chocolate
    April 27th, 2014 at 18:29 | #186

    Hahahah..dont feel so hard feeling braderrrr..The Wave is the best! Ivory the top developer in Pg, some said Msia even in Asean!!! =.=”

  187. Joey
    May 1st, 2014 at 10:58 | #187

    What is the latest market price now for smallest unit 1200+sqf??

  188. jason
    May 3rd, 2014 at 09:18 | #188

    Around RM1.1M…market price..FYI..Tropicana Macalister selling at RM1M with just 870sqf..

  189. soonkeat
    May 3rd, 2014 at 09:46 | #189


    Tropicana Macalister selling at RM1M with just 870sqft? That’s why you always see Tropicana do Labour-Day Roadshow loh, then Family-Day Roadshow with Clowns, then Mother’s Day Roadshow with free makan, then Merdeka Day roadshow with free flags etc. An the units very solid one, will never sell out, almost almost sold out, then suddenly some units become available, nearly nearly sold out, then got some more….:D hahahahahaha…..

  190. soonkeat
    May 3rd, 2014 at 09:49 | #190


    Tropicana Macalister selling at RM1M with just 870sqft? That’s why you always see Tropicana do Labour-Day Roadshow loh!

  191. Helen
    May 4th, 2014 at 14:38 | #191

    For me, the wave is very much better than tropicana macalister.. Good location and cheaper..Only 1M+ with 1270sqf..

  192. Lim
    May 18th, 2014 at 14:40 | #192

    The Wave are awarded the Residential High-Rise Architecture in Malaysia at the Asia Pacific Property Awards 2014-2015. Bravo!!!

  193. Lim
    May 18th, 2014 at 14:43 | #193

    The Wave are awarded the Residential High-Rise Architecture in Malaysia at the Asia Pacific Property Awards 2014-2015. Bravo!!! http://www.thestar.com.my/News/Community/2014/05/17/Design-creates-waves-Penang-building-gets-Asia-Pacific-Property-Awards-recognition/

  194. CEO
    May 19th, 2014 at 23:24 | #194

    Award winning project for The wave.. Is this will boost the value of this property???

  195. jason
    May 20th, 2014 at 23:47 | #195

    I believe… This award wining might boost up the property price it self of the wave, but also condo around it which is phase 1&2.. The price sure will boost.. Cheers for The Wave!!!!

  196. CIO
    May 21st, 2014 at 00:36 | #196

    Yup, it will boost up the price of the condos around it, and then subsequently boost up the price around georgetown, and then slowly spread east, west, north, south, and then the whole island. Hahahaha!!!!!

  197. biscuit
    May 21st, 2014 at 08:30 | #197

    See the building already pening. Stay there don’t know can pengsan or not

  198. 321
    May 21st, 2014 at 09:59 | #198

    SOHO. very hard to subsale.

  199. Lim
    May 21st, 2014 at 15:12 | #199

    biscuit :
    See the building already pening. Stay there don’t know can pengsan or not

    Haii. Mr Biscuit. You must be stay in biscuit tin only. People condo are winning the International Award. You should actually congrats them but you say people condo look like pengsan. What kind of jealous people you are.

  200. 999
    May 21st, 2014 at 15:48 | #200

    Not even piling yet already win awards ah?! How did that happen? Come out workmanship like shit also nevermind lah??!! Like shit still award winning right? Hahahaha!!

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