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Vertiq

Gelugor/ 13 January 2012 Leave a comment

Vertiq, rising majestically as the tallest development in the prominent Metro East area offers a signature lifestyle like no other. This is an upcoming freehold mixed development by IJM within MetroEast-Unidi, Penang. Located next to Pearl Regency and just a stone throw away from TESCO, an international known hypermarket. Comprises 318 residential units.

Facilities:

  • Sky Garden & Lounge
  • Basketball Half Court
  • Children Playground
  • BBQ Area & Tea Garden
  • Forest & Indoor Gym
  • Jungle Tai Chi & Jogging Track
  • Splash Pool, Children Pool, Pool Deck, Mini Water Theme Park, Jacuzzi, Swimming Pool
  • Community Hall

Type A

Type B

Built-up Area: 1,302 sq ft Built-up Area: 1,044 sq ft
No. of units: 47 No. of units: 150

Type C

Type D

Built-up Area: 1,496 sq ft Built-up Area: 1,281 sq ft
No. of units: 10 No. of units: 25

Type E

Type F

Built-up Area: 1,055 sq ft Built-up Area: 2,056 sq ft
No. of units: 26 No. of units: 29

Type G

Type J

Built-up Area: 1,927 sq ft Built-up Area: 2,303 sq ft
No. of units: 13 No. of units: 2

Type K

Built-up Area: 1,647 sq ft
No. of units: 16

Property Project : Vertiq
Location : MetroEast, Gelugor, Penang
Property Type : Condominium
Land Tenure : Freehold
Built-up Area : 1,044 sq.ft. onward
Total Units : 318
Indicative Price: RM540,000 onward
Developer : IJM Land

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  1. thong
    January 13th, 2012 at 14:45 | #1

    Launching soon?

  2. Tan
    January 13th, 2012 at 18:14 | #2

    Heard going to launch in 1-2 months. Anyone else has more accurate news?

  3. penang
    January 13th, 2012 at 19:50 | #3

    they have done for the pilling stage.
    should be very fast for the progress.

  4. markerpen
    January 14th, 2012 at 11:22 | #4

    Per SQ FT average approx RM500, how to invest

  5. DS
    January 15th, 2012 at 18:00 | #5

    too cheap

  6. KS_rev
    January 16th, 2012 at 09:55 | #6

    the location on the map looks like current Pearl Regency Condo? They rename it and sell again?

  7. thong
    January 16th, 2012 at 10:11 | #7

    ks_rev, i have the same question in my mind too. I was thought that Pearl Regency condo ….

  8. BobbyBob
    January 16th, 2012 at 10:51 | #8

    No, if not mistaken it is another block from Pearl Regency. Heard that is is going to be launched in first quarter of 2012, not sure which month yet.

  9. Allen
    January 16th, 2012 at 11:24 | #9

    Go there and see buy youe self. It is diff from Pearl Regency.

  10. Ken (Admin)
    Ken (Admin)
    January 16th, 2012 at 12:11 | #10

    Pearl Regency supposed to have two blocks (A & B), but block A was scrapped and now called Vertiq with new design.

    Pearl Regency Block B currently under construction. Vertiq is just next (back) to it.

  11. Penang Lang
    January 16th, 2012 at 13:21 | #11

    Heard it will be launched in March. Developer probably changed the concept and design to cater more for local needs. Smaller units with balcony. RM550psft I heard. Mid level pricing considering the location.

  12. Brandon
    January 16th, 2012 at 14:06 | #12

    Wouldnt the view be blocked by Pearl Regency?

  13. Alex
    January 17th, 2012 at 01:00 | #13

    wah…RM550/sqft is too expensive…

  14. dunno
    January 17th, 2012 at 03:50 | #14

    see, i told b4fore…pearl regency is a IJM failure…they tried to sell in Korea => failed, then they tried to sell in local market => failed, now no choice, has to scrap another block and rename as Vertiq, hope that people will get away from the bad impression of Pearl Regency name.

    good luck to you guys.

  15. I know
    January 17th, 2012 at 08:25 | #15

    kiang li hoe, mai keh kiang lah. Like you are working inside IJM. hahahahaha

  16. Brandon
    January 18th, 2012 at 14:04 | #16

    550/sqft is reasonable when the property completes in 2015.

  17. Po
    January 18th, 2012 at 22:32 | #17

    not true. Pearl Regency was a good project, just failed as market to Koreas, and the locals just don’t know until it’s built. It is heaps better than Platino and Bayswater.

  18. 1PG
    January 19th, 2012 at 09:57 | #18

    Both Pearl Regendy and this rename “Vertiq” are too close to the Tenaga station. I’m not sure about how serious is the impact of the electromagnetic to the residents but very sure about the impact of the low frequency noise that produces by the stattion everyday.

  19. taa
    January 19th, 2012 at 12:55 | #19

    This kind of Tenaga station/chimney, and telecommunication tower topics have been heavily discussed round-and-round in the past across different projects, but it seems that it doesn’t carry much impact. Bayswater is located just beside the big christmas tree, some units simply have a full-frontal with it, but who cares? The forever-delayed Lanai Seri pulled so much attention and exitement for years, who cares abut the tenaga #1 chimney?

  20. dunno
    January 19th, 2012 at 17:27 | #20

    if yourself dun wish to stay close to tenaga, i doubt it will be good for investment. think as you buy for stay before you think of invest. Else you will ended up like Owner of units with direct facing the “Christmas Tree” in baywater, force to move in as unable to sell with a good price.

  21. Penang Lang
    January 19th, 2012 at 18:26 | #21

    Please check to see if the X’mas tree is still there.

  22. Po
    January 20th, 2012 at 23:00 | #22

    All bayswater rise 100% since it is launched and 30% at least for Platino.
    Who cares about the Chimney/ Tenaga ? It is confirmed OK and have no pollution, no smoke.

  23. Allen
    January 21st, 2012 at 10:32 | #23

    I will be the first one who q on the soft launch …

  24. Ah Dog
    January 21st, 2012 at 21:50 | #24

    Too expensive! But the location is good. But in this very small land, wonder if the facilities and garden can be well established? Or, just like normal flat, bath tub size swimming pool….just like Palm Palladium, very confine surrounding area, car park access also very narrow till you can see a lot of scratches which hit and drag by car (driving skills need to be very good to live there).

  25. Ah Dog
    January 21st, 2012 at 21:51 | #25

    Beware, last time ppl worry on the Lanai Seri project too close to the chimney, but, this Vertiq is even closer, good luck, just wish the wind will blow the smoke towards see direction.

  26. Central unit
    January 22nd, 2012 at 10:37 | #26

    Believe me even the site is next to nuclear plant, it will still selling like hot cake as long as it in penang island. It become a trend either u buy a grave or u sleep at the road side

  27. Ho
    February 2nd, 2012 at 11:55 | #27

    Look… RM550psf is reasonable in today’s market for this location but it is not affortable by most Penangites. Are you willing to have a larger unit at a further distance (within the island) or a smaller, more expensive but nearer town center?

    I would recommand the units of Vertiq that is not facing the sea to sell at RM400psf for start.
    Those facing the sea can sell up to RM600psf because it is a high den block.
    If low den, can sell at RM700psf (or more) for those units facing the sea.

    Are you listing, IJM? :-)

  28. Brandon
    February 2nd, 2012 at 14:02 | #28

    Current market rate is RM500 psft. The TNB power station is gas turbined based, so emmision is water steam. It is cheaper compared to The Light projects. When completed, it will be cheaper than the market rate assuming RM700 by then. Prime locations in KL are already more than that right now. I feel the demographics of Penang are changing as there are younger generation looking for lifestyle, adjacency to commercial, close to work and accessibility.

    Of course one can still buy in BM or Juru or Balik Pulau at cheaper price landed properties and suffer a bitch of commute everyday.

  29. Ho
    February 2nd, 2012 at 21:58 | #29

    If you have a choice, you will not stay near or at the following.

    – Next to cemetery
    – On land reclamation
    – At hill side
    – On top of the hill
    – Next to or near a power station (this case)
    – Next or near to Indah Water
    – Condo next to low cost

    But who cares!? The free market in Penang seems to define all the odds.

  30. Jeffy
    February 13th, 2012 at 16:50 | #30

    @Ho
    Where is that power station location?

  31. Steve
    February 13th, 2012 at 18:40 | #31

    I believed Jeffy was referring to the Tenaga plant opposite IJM tower (across jalan tunku udini). But I don’t see any cabling, not sure if this is a power plant. May be underground cable.

  32. Na Keat
    February 15th, 2012 at 23:26 | #32

    RM520k for the lowest floor with just 1044sf and to be completed in 3+ yrs? IJM gives 2 car parks? I believe only come with one carpark. Crazzy! This is definitely not for general penangites, only for rich people and foreigner.

  33. Ah Dog
    February 16th, 2012 at 22:05 | #33

    I think already open for sale, for VIP and bulk buyer.

  34. Ah Dog
    February 18th, 2012 at 14:20 | #34

    Smaller unit, lower floor priced from RM570k (come with two carparks). Middle floor will easily above RM600k for 1044sf. RM600k for 1000sf Condo? Completed in 3yrs time?

  35. Economic Crisis
    February 18th, 2012 at 22:40 | #35

    This crazy price only can be set by IJM, SP Setia and Mah Sing. Guess what, coastal highway and the recent Lebuh Raya Tun Lim upgrade from two lane to 3 lane infront of ‘The View’ are (were) built and paid by IJM, where the money coming from? — their house buyer la….

  36. Economic Crisis
    February 18th, 2012 at 22:46 | #36

    Pls note that the Pearl Regency is using white brick…under construction now, go and see. I thought IJM always use red brick on their project! and see feng shui like Alpine Tower at Bukit Jambul…..from good comment on their Bayswater, to the bad comment on later project like their Summer Place and Platino (low standard of finishing and fence), and don’t know what will happen on Pearl Regency and this Virtiq? ‘We continue to make good better’? What is that mean? Make it a good and better price?

  37. Obamana
    February 18th, 2012 at 22:51 | #37

    The opposite is Pearl Piazza commercial shoplot, if open one or two disco or night clubs, then every night can dance at home until 2pm….just stone throw away from them :)

  38. Na Keat
    February 18th, 2012 at 22:52 | #38

    Is it commercial title?

  39. Paranormal
    February 21st, 2012 at 21:37 | #39

    Any other projects in Penang sold at RM550/sf? This one is very high density, and yet near to power plant and busy roads, very noisy, yet still can sell so high price.

  40. Ah Dog
    February 21st, 2012 at 21:38 | #40

    Project with starting price from RM500k++ still can sell like hot cake? Queue for several days?

  41. vertiq buyer
    February 24th, 2012 at 15:42 | #41

    Just noticed the floor plan is updated now :) I hear the launching is 3/3. Anyone wanted to start queuing now?

  42. ck
    February 24th, 2012 at 17:35 | #42

    lay out is not so nice …

  43. Low
    February 24th, 2012 at 19:49 | #43

    …..

  44. Low
    February 24th, 2012 at 19:54 | #44

    RM 540K onward for 1044 sq ft quite expensive leh ….. Don think got people queuing from 01-03-2012 lo

  45. Ah Qua
    Ah Qua
    February 25th, 2012 at 00:49 | #45

    The layout for F is pretty good.

  46. Ah Dog
    February 25th, 2012 at 19:24 | #46

    RM540K? It is just indicative price. The actual price will be ~RM560k++ for just 1044sf. Please note that, this price is equavalent to the Bayswater renovated & full furnish unit that are now in the market. The price is very crazy.

  47. Ah Dog
    February 25th, 2012 at 19:28 | #47

    318 units on a land size of 2.31 Arces? This density even higher that LMC flat. None of the tree will be planted on the actual ground or I should say no actual ground garden….just a road at the peripheral of the car park building….dam pity congested.

  48. Ah Dog
    February 25th, 2012 at 19:29 | #48

    Anyway, just go and round the actual land site there, small like….

  49. Apple
    February 25th, 2012 at 19:41 | #49

    Price from 540K is facing Greenland n the road “….. Facing pool view n sea view price above RM 570 K , too expensive for this project

  50. Economic Crisis
    February 25th, 2012 at 21:22 | #50

    In the year of 2015, the price for 1000sf will beyond RM600k? Oh, no, if RM600k, still not good for this project. Will it be RM700k? for 1000sf, oh, no, still no good for the return for this Vertiq investment as only ~RM50k appreciate in price. Lastly, think one more time, will 1000sf condo in Penang in 2015 price RM800k++, if yes, then the return of investment is just OK.

  51. Boon Siew
    February 25th, 2012 at 21:26 | #51

    Raffle Tower 1400sf is at ~RM560k onwards. Lower density.

  52. Apple
    February 26th, 2012 at 09:55 | #52

    Do u think that still got people queuing start from 01/03 to buy this property ? I don think so ! It’s too expensive for those people who wan to buy 1044 Sq ft , better buy raffles tower !

  53. Jane
    February 26th, 2012 at 10:50 | #53

    1000 sqt for own stay should be ok . I don think this property good for invest in future especially 2015 hahahahaha

  54. David
    February 26th, 2012 at 11:01 | #54

    Come on’ property transaction drop 30% on this 2months. Now I am scare of not able to dispose on-hand units with current market price coming september. 550psft for condo, landed is more wise to invest even the rental yield is lower

  55. Andrew
    February 26th, 2012 at 11:26 | #55

    Whatever the market is, I am sure there will be someone queuing before launching to grab some early bird units. We can’t deny that. This is Penang mar :)

  56. Jane
    February 26th, 2012 at 12:38 | #56

    Property n car oso drop this 2 months because of bank negera setup new rule , make people hard to get the loan from bank :-(

  57. Ah Dog
    February 26th, 2012 at 22:50 | #57

    This property is super ‘luxury’, if you can affort RM3000 per-month (including maint fee) for the smallest/lowest unit, then can buy for own living. If for investment, then hope this condo price will hit RM800k once completed (for 1044sf); or the rental can hit RM3000 for smallest lowest unit, the rental will just enough to cover all the monthly repayment/maint fee; but need to invest ~RM100k for renovation/furnish before rent out with this rental (RM100k is enough I guess, as got all air con and water heater)

  58. Kenneng
    February 27th, 2012 at 00:16 | #58

    Almost fainted when I looked at the design type-B 1044sqft. Open kitchen at the middle of house, bedroom2 besides kitchen, Bedroom3 just besides the main door. What kind of design like this ….. No eye to see.

  59. Economic Crisis
    February 27th, 2012 at 11:13 | #59

    There are 150 units for type-B. This design is typically for LMC with 650sf. Very hard to re-organize and renovate, need to spend extra to close the ‘open kitchen’ so that living hall didn’t direct see it.

  60. tk chong
    February 27th, 2012 at 11:16 | #60

    heard Ikea may be there. Anyone heard anything about Ikea?

  61. SK king
    February 27th, 2012 at 13:18 | #61

    what about Ikea??
    there will be no place for Ikea at Vertiq.

  62. tk chong
    February 27th, 2012 at 13:30 | #62

    I mean around that area. may be pearl piazza? I’m just guessing :)

  63. SK king
    February 27th, 2012 at 13:47 | #63

    last check at IKEA, they dont seem to like the idea to move to north, but who know if they change the decision.

  64. ptstw
    February 27th, 2012 at 14:08 | #64

    2 minutes search in the web and i found this information regarding setting up IKEA in Penang:

    So, it is a no go, at least for a time-being. What would be the good place to accomodate Ikea if it does come, I would say The Light Waterfront phase II, Times Square, E&O phase II, or Queensbay mall expansion.

  65. ptstw
    February 27th, 2012 at 14:11 | #65

    http://www.jumiesamsudin.com/2012/02/ikea-in-penang.html

  66. ptstw
    February 27th, 2012 at 14:27 | #66

    Update on megastores in Penang:

    Tesco: Seri Tg Pinang, Tesco extra sg dua, Lebuh tengku kudin, extra seberang jaya, tesco BM.
    Carrefour: 1st Avenue (new), Bukit minyak, Seberang Prai
    Jusco: Queensbay Mall, Seberang Prai, Bagan City by SiB (new in bayan Baru)

    Any more new stores to open soon and spurr up the surrounding properties value, dunno, only heard about Jusco may be coming to Times Square. There are others including giant, sunshine, pacific etc, but those are not very interesting to me.

  67. Economic Crisis
    February 27th, 2012 at 14:59 | #67

    Wah lau eh….suddenly talk about Ikea. No way to put Ikea on Pearl Piazza, the land too small already. Ikea need bigger building and land area. Mostly, if it does come to North, mostly will be at Seberang/BM/Butterworh. Widely speculate now is to replace Tesco Sg Dua, but don’t think will happen.

  68. Economic Crisis
    February 27th, 2012 at 15:02 | #68

    Bare in mind, Ikea doesn’t need to go for those high rental area/highly happening area like what you guy said. Build at mainland is the most ideal way to go, can supply to SP, Alor Star….etc. Ikea at KL not located at KLCC or Bukit Bintang, please.

  69. Brandon
    February 28th, 2012 at 15:07 | #69

    Guys que already started for the 3rd.

  70. Jane
    February 28th, 2012 at 18:19 | #70

    Crazy

  71. Steve
    February 28th, 2012 at 18:27 | #71

    Yeah, saw that too on the way to tesco. Dunno what to say :(

  72. ksgoh
    ksgoh
    February 28th, 2012 at 20:54 | #72

    wah…start queuing already? is this project 500k or 50k?

  73. kntxx
    February 28th, 2012 at 21:06 | #73

    Queuing no is more than 100 !

  74. kulikia
    February 28th, 2012 at 21:13 | #74

    this is always happen to IJM project…. wondering penang peoples are so rich….

  75. homeseeker
    February 29th, 2012 at 09:26 | #75

    Actually this happen to most of the new Penang condominium launches.

  76. kktan
    February 29th, 2012 at 11:59 | #76

    Can someone take a photo and share it here? Just wondering how long is it now if I were to start queuing today?

  77. MO
    February 29th, 2012 at 13:02 | #77

    if u wan small unit n nice big unit ….dun waste your time to queu.

  78. Economic Crisis
    February 29th, 2012 at 13:16 | #78

    There will be a lot of units with loan not approve, but no more RM10k if sign S&P after March’2012.

  79. Ah Dog
    February 29th, 2012 at 13:18 | #79

    Typical guide line for bank loan, Gross Income – EPF – income tax – socso = Net Income; total loan can’t be 1/3 of the net income. [But can be up to 2/3 of the net income if have some cash/share/extra loaner] This new rule will make life difficult for those ‘working’ or makan gaji.

  80. MO
    February 29th, 2012 at 14:46 | #80

    if u look at those more affordable smaller units. In terms of practicalbilty, the layout seems to be a bit odd with very small room near entrance, washroom also at entrance + open kitchen in the middle of the unit. .. A lot ppl buy on impulse ,thus making the developer capitalise the most.

  81. lili
    February 29th, 2012 at 14:54 | #81

    i have called ijm, they said never heard about project pearl piazza? only pearl regency is under construction. Anyone can help me?

  82. Reject
    February 29th, 2012 at 15:27 | #82

    Reader have low quality, simply coded a name …. where got Piazza? It is Pearl Regency

  83. Ah Dog
    March 1st, 2012 at 07:43 | #83

    Pearl Regency is Condominium, and the shop lot at the bottom is called Pearl Piazza (Pearl Plazza)…..Like Times Square, don’t tell me you don’t know each Condominium block above also called Time Square, got specific name. Like Elite Height at Bayan Baru, the Condo called Elite Height, but shop lots called Elite Avenue. Still can’t catch the detail…..??

  84. Eddy
    March 1st, 2012 at 10:55 | #84

    what is the queue no now?? Saw got Bangla sit there, seem like employed by someone.. How much?

  85. Ah Dog
    March 1st, 2012 at 22:42 | #85

    RM250 per day. Start queue from Tuesday, so, people pay RM1000 for queue 4 days 4 nights.

  86. Ah Dog
    March 1st, 2012 at 22:46 | #86

    Too expensive for investment, better invest at mainland or KL (like Cheras, Shah Alam, PJ, CJ).

  87. Po
    March 2nd, 2012 at 02:40 | #87

    People buy expect the price to reach 900-1000 on 2015. So if buy now 600 psf, loan 10% , gain 500%. deposit 20%, loan 80% , even gain 250% and above.
    With By the Sea at 1300 psf, and also Andaman at Straits Quay selling at 1300-1400. 550 starting price is dirt cheap. Even Southbay Plaza selling higher than Vertiq.

  88. cl
    March 2nd, 2012 at 09:52 | #88

    Thats great to heard that the per sqft may reach 900-1000. Then a lot of pp will be happy then.

  89. kntxx
    March 2nd, 2012 at 10:08 | #89

    The question now is at 900-1000 psqft, during sub sale, how many of us out there can actually afford to buy and stay??

  90. cl
    March 2nd, 2012 at 10:25 | #90

    True. PP will be suffer if buy sub-sale due to high cost.

  91. Hello
    March 2nd, 2012 at 12:14 | #91

    I’m very disspointed today. Reason Its because i went down to the Penang IJM office yesterday regards to the launch of Vertiq and found out that actually the Penang sales executive are encouraging us to pay the foreign workers Per day Rm250 to queue for us till the launch on this coming sat. Wednesday to Saturday: Total RM1000 just to queue. I do not know whether its right for IJM to do t……his but its very unfair as some people are unable to pay therefore miss out the chance of getting a good lot. If the buyer queue by him or herself, i got nothing to say. The dissapointment is that to me IJM support the idea of paying people to queue as this was recommended by their sales executive. I did voice this out to the sales executive but he say no choice. People have been saving up money for the 10% and yet before making a booking, we need to come out another RM 250 per day for people to queue for us. I think this will make even harder for us to purchase a apartment especially new buyer. Just a though of mind. Thank You

  92. Ah Dog
    March 2nd, 2012 at 19:39 | #92

    138 numbers have been given out for queuing, seeing a lot foreign worker there, like refugee’s camp.

  93. Ong
    March 3rd, 2012 at 15:25 | #93

    How’s the sales response? Sold out or not?

  94. Elmo
    March 3rd, 2012 at 22:51 | #94

    Sold out already for smaller size sqft. IJM people still dare to say.. those stick with orange sticker mostly sold to IJM internal and vendors who are involved in the projects.

  95. thomas lee
    March 3rd, 2012 at 23:19 | #95

    Hi our bank are giving Developer bearing intrest skim & 48 hour approval during working hour for sure our bank sure will giving out the attractive rate for whose intresting u may contact me Thomas Lee 016-5554510 or thomas.lee88@live.com

  96. Jane
    March 4th, 2012 at 09:33 | #96

    Not fair to our outsider !

  97. tm
    March 4th, 2012 at 11:48 | #97

    Today have publishment regarding the Vertiq in Nanyang Nortern edition paper. Total 220 non bumi unit opened for sale. 85% sold out on 1st day. Those small and medium unit type B, D & E all sold out. Only left bigger unit. Those in the waiting list still have chances as not every successful buyers can get loan approval. :)

  98. ksgoh
    ksgoh
    March 4th, 2012 at 11:50 | #98

    u have the right to ban the developer if they practice the trend of “undertable” (corruption). why u need to pay extra if u already know they are a daytime robber/cheater?

  99. KS_rev
    March 4th, 2012 at 11:55 | #99

    500+psf for a condo that have ‘potential blocked seaview’ (by Pearl Regency in front) ?? my goodness!!

  100. Neo
    March 4th, 2012 at 13:22 | #100

    Excitement stirred by their own ppl…

  101. Ah Dog
    March 4th, 2012 at 13:46 | #101

    Yeah, the original Pearl Regency plan was sucked, with a lot of units left. So, they scrap the plan and come out with this one, Vertiq, and stirr around and asking buyer to queue, created an excitement that this project is hot.

  102. Neo
    March 4th, 2012 at 15:53 | #102

    Chinese paper also reported this…
    Not a good reputation for ijm. What a
    shame…for using this technique.
    I prefer Sime Darby who use ballot system.

  103. M3
    March 4th, 2012 at 18:49 | #103

    IJM, please dont char the Penang Property price….you all are already very rich and the penang property price are already far too expensive even for a middle class people to own.

  104. Neo
    March 4th, 2012 at 19:10 | #104

    They don’t care as long as salesman get
    their commission….n customer get their unit.
    Strike the iron while it’s hot…..question is
    will this trend continue or price will stabilize.

  105. Economic Crisis
    March 4th, 2012 at 20:52 | #105

    IJM need some money for their ‘social contribution’ to build road and widen the coastal highway for free, FOR FREE!

  106. vertiq proud owner
    March 4th, 2012 at 21:28 | #106

    if you dont like this condomium, pls get yourself other properties, there are hundreds properties out there for grab.. nobody pointing gun to your head to buy this condo

  107. kktan
    March 5th, 2012 at 00:21 | #107

    @Ah Dog
    Actually the original Pearl Regency not selling good was due to expensive pricing. Some people said it was balcony problem, but i think is more about the pricing.

    At that time was consider super high. It was selling at around 550psf (partially furnished) while other condos are only selling at around 300psf++ range.

    If it they launch it today at RM600psf with partially furnished, i’m sure it will sold out very fast.

  108. KS_rev
    March 5th, 2012 at 11:31 | #108

    Pearl Regency fail not only because of its pricing (rm500+psf at 2010 year), also because its floor plan, mostly is 1 room or 2 room type, suitable for foreign market (which they thought, but ended up wrong) but not for locals who prefer more practical layout and more rooms (3 rooms)

  109. jack
    March 5th, 2012 at 16:09 | #109

    Ah Dog :
    Beware, last time ppl worry on the Lanai Seri project too close to the chimney, but, this Vertiq is even closer, good luck, just wish the wind will blow the smoke towards see direction.

    For those who worry about tenaga chimney:
    There will be just heat exhaust from the chimney. Dust and particles will be magnetized and filtered using electromagnetic technology, tenaga is a giant company and it can’t afford to compensate neighboring residences if anything happen because of its waste.
    – Speaking of a qualify power engineer

  110. Neo
    March 5th, 2012 at 22:45 | #110

    @vertiq proud owner
    How long do u need to q? We are just discussing
    the unethical way of selling. Nothing to
    do with the proud owner.

  111. LT
    March 6th, 2012 at 11:55 | #111

    Other than the pollution by exhaust of chimney, also the generated electromagnetic field by the Tenaga power plant is hazard to health.

  112. dave
    March 8th, 2012 at 10:57 | #112

    @LT
    LT where did u learn about the particular tenaga powet plant generating electromagnetic?this is a water based plant which releases stim in our instead of electromagnetic…water acts as agent of absorbtion of heat n dispells in air as stim(water molecules) it brings no harm and hazard to heath..check on ur facts if u dunno dont have to assume…u think those who r in pallazo n bayswater dont bother bout theis health?y do u think the value appreciated n gud rental despite the tenaga plant nearby?bcos they got their facts rite

  113. LT
    March 8th, 2012 at 11:31 | #113

    @Dave
    The power plant use steam to turn gas turbine which with big magnets attached on it. Magnetic field cut through wires (conductor) and produces electricity. This is based on Farady law. There are magnetic components in the generators, transformers (change the voltage), and also there should be transmission lines to transmit the electricity to other station/area. electricity cannot be stored.
    I did not assume, and I don’t blame those who have no knowledge in this fact since this is a bit technical.

    Also please see this:
    http://wiki.answers.com/Q/Is_there_danger_in_living_next_to_an_electric_power_plant

  114. jo
    March 8th, 2012 at 18:07 | #114

    pathetic IJM, need to use such tactic to attract sales? property in whole malaysia is slowing down…one of the bank loan officer told me vertiq have been fully sold out…this is perhaps the biggest joke of the day itself…it’s very much the same like pearl regency, just say ‘sold out’ and suddenly you could see ads in henry butcher penang’s website seeling 566psft (you can still see it now)…and some road shows after the so called hot launching…with current economy climate and europe in recession, i don’t see any optimism here for condo…exception for landed property though…

  115. Steven
    March 8th, 2012 at 19:40 | #115

    If people not willing to buy a unit next/above/below to TNB room in every condo, I don’t understand these people still argue condo beside big generator is ok. Generator is much worse than switching room in both health and feng shui point of view. Really amused v this.

  116. AC
    March 12th, 2012 at 14:56 | #116

    IJM is smart. He pushes out all the vertiq and Pearl Regency first. Those blocks going to have some blackage by the Light reclaim area.

  117. CRI
    March 12th, 2012 at 15:23 | #117

    IJM projects are known to appreciate up to 30% upon O.C, this is clearly evidenced through bayswater, summerplace, the spring, platino, and The light linear (bumi release). Therefore to live up the expectation, Vertiq has to price >=700psf upon completion, sounds challenging. Anything <650psf will not be interesting anyway as the profit will only be <=100k for the smallest unit, even lower after minus out bank penalty, agent fees, lawyers fee, and RGPT.

    Those who bought for own staying, i don't see any problem as i think long term perspect is there. But for fellow investors/speculators, what is your expectation?

  118. Ah Dog
    March 12th, 2012 at 18:31 | #118

    As per current trend, the new completed Condo units will double up the existing total Condo units in Penang island, after 4 years from now. So, the market can absorb this drastic rise? (with already a lot of condo units left vacant now)……what do you expect? with RM700k for 1000sf condo? Who are the buyers? If landed, then no issue.

  119. Ah Dog
    March 12th, 2012 at 18:34 | #119

    If, there is some statistical data can be provided by someone on the vacant rate on the condo/appartment in Penang, it will definitely surprise a lot ppl. But i think no one dare to do this research as this data developer and speculator don’t want to see.

  120. Economic Crisis
    March 12th, 2012 at 18:37 | #120

    Anyway, Penang is still not booming like Beijing, Hong Kong, Toyko or Singapore, the population is keep on flowing in and thus, their residence demand is always high. That’s why a lot houses are empty in Penang, and still keep on increasing and you will see how the property market in 3 years from now.

  121. ET
    March 13th, 2012 at 10:08 | #121

    IJM may have misled the buyers, as far as i can visualize, those seaview units hardly get the seaview as it is blocked by pearl regency. Some buyers may be lucky to get the seaview if they directly face the Pearl Regency “Hole” in the middle of the bulding design

  122. Kok_Kheong
    March 30th, 2012 at 19:09 | #122

    My mother in law also buy this Condo.
    She bought for her son. She said she can shout from her balcony at Platino to call her son to eat dinner. She purposely asked his staff to Q and must buy level 12th floor, same floor with her Platino and both balconies facing each other. It is so convenient.
    You guys who miss this Condo so ungentleman, sour grapes and give all sort of negative comments.
    This is easily the best condo in town.

  123. Sally
    March 30th, 2012 at 19:23 | #123

    That is only true for those who already own a unit at Platino like Kok Kheong’s mother-in-law.
    I guess during certain time where laundry is heavy and when Kok Kheong’s mother-in-law need extra space to dry clothes, She can put across a string between his son’s balcony at Vertiq and tie to her balcony at Platino to dry clothes. So convenient.

  124. Kokwaicheng
    March 30th, 2012 at 21:59 | #124

    Hahahaha! LOL

  125. M3
    April 1st, 2012 at 13:22 | #125

    those plan to jump over to platino balcony …make sure u dont buy too high floor….lol

  126. Vertiq_Fever
    April 2nd, 2012 at 10:23 | #126

    Hey guys! do u think vertiq will be completed on time or earlier?

  127. Steve
    April 2nd, 2012 at 12:20 | #127

    Usually IJM will complete their project earlier

  128. Vertiq_Fever
    April 3rd, 2012 at 09:06 | #128

    @Steve
    Yeah..hope so..fast but hopefully quality of work to build is there.

  129. Danny
    April 3rd, 2012 at 10:21 | #129

    Honestly, after buying this condo, I am a bit of regret, as there are number of options like Penang World City at Bayan Mutiara, etc. Passby, it is just a HOLE and to imagine a condo will be built there!

    Really concern about the crowded and too near to Platino. Cars in and out will be terrible.
    Recently, TNB power plant does not have sufficient gas and if the nearby power plant use coal as fuel instead, there will be very dirty. Simple, compare your home gas stove and when you have BBQ outside with coal! Horrible pollution, ours high rise , same level with the power plant chimney!

    Noise of the traffic some more. Really worry

  130. Hon
    April 3rd, 2012 at 10:26 | #130

    Actually, our condo is so near to the power plant. Platino and Bayswater residents will be very happy as we have become the shield/barrier and we will be hit first with whatever things from the plant. Not fair !

  131. dave
    April 3rd, 2012 at 10:56 | #131

    @ Danny

    i dun think u r a buyer there..probably a buyer who is luking to get one..hoping by ur rubbish statements ppl will sell of to u cheaper…try harder next time…

  132. Vertiq_Fever
    April 3rd, 2012 at 11:00 | #132

    Heard property price will drop 20% in 6 months time?????? anyone has any idea bout it???

  133. Vertiq_Fever
    April 3rd, 2012 at 11:07 | #133

    @dave
    Hey guys! do you think it will be crowded after pearl regency & vertiq are completed? Any opinion??

  134. Steve
    April 3rd, 2012 at 11:18 | #134

    @Vertiq_Fever
    Based on the number of units, Platino + Bayswater + Pearl Regency + vertiq, it is only less than 1000 units while you have 3 exit points.

    Compare to other area like Greenlane, Air Itam, The lights, Relau, Bayan Baru… which area do you think is more congested? :)

  135. Steve
    April 3rd, 2012 at 11:24 | #135

    @Vertiq_Fever
    I heard about similar kind of speculation since many years back. Every year the price just continues to increase.

    Property price is part of economy “eco-system”. Obviouly the person who speculate 20% drop needs to also understand the implication of the economy.

  136. aaron
    April 3rd, 2012 at 11:26 | #136

    the lights has also around 1000 units only, but much lower density.

  137. Steve
    April 3rd, 2012 at 11:58 | #137

    Are you sure? Note that there is only one exit road from the light. That’s the bottleneck which related to congestion.

    By the way, I don’t think 1000 units of residential can cause any congestion. Be it the light or metro east.

  138. dave
    April 3rd, 2012 at 12:05 | #138

    @ vertiq_ feve

    hie
    in comparison with similar areas where a few block of condos are build adjacent to one another ..i personally dont think it will be crowded in this area as all the condos are provided with 2 or 3 car parks like wise the other area such as near villa emas,gold coast where the owners DONT have 2or 3 car parks when they bought the unit..s each unit comes with 2 or3 car parks n rental in this area is going for average of 3k for bayswater n 4k for platino i dont think u r going to have a community which will park outside just to save a couple of hundreds in rented carparks

  139. Ken
    April 3rd, 2012 at 12:48 | #139

    Probably, the effects of the plant will not affect you as adult.
    Young family with children have to do more research.
    The effects might be visible 10 years down the line, why take such a risk? Why gamble your family s health?

    Please do not say other people is not buyer when he raised legitimate concerns for discussion/sharing.
    It is not about traffic jam, every where in Penang also jam. Even Bukit Mertajam also jam like crazy. My friend put his house at BM
    on sale after collecting key because tak tahan the jam.

    Enough all the rosy things like IJM good quality la, price appreciate la, location la, etc.
    Effects of the plant to residents health ! Don’t say don’t worry only Substantiate your argument with proof. The plant is just next to a road only!

  140. June
    April 3rd, 2012 at 13:03 | #140

    True, it is time we really focus on the effects of the plant and other problems!
    If Dave claimed others are not buyers for just sharing actual future problem , that will scare others to raise good points for discussion so that we can solve together.
    Then, probably Dave is one of the many the shark speculators who cause properties in Penang not affordable to many. Of course, he will say plant s effects not a problem, toxic traffic problem not a cause for concern , remember the Tesco factor, all car coming in coming out. Have you been to Gurney during weekends? You dare not even drive out because either you stuck in front of your condo or you have to wait after mid night to come back !

    Speculator only want to sell off for few hundred K profits after taking the key. They don’t bother the actually problem! The nearby plant is a concern!

  141. Kimochi
    April 3rd, 2012 at 13:12 | #141

    Anything we can do since we already buy the condo? Can we ask the developer to give us black and white guarantee about the safety issue and health issue? Let the developer to take responsibility.

    We can request developer to built a new interchange so that the traffic jam will be solved ,our developer is a good man, sure will help right. Really worry. we can not sweep everything under the carpet , pretend no problem.

  142. Low
    April 3rd, 2012 at 14:59 | #142

    List of issues to be discussed and need help:
    1)Traffic dispersion with Tesco management
    2) Sound barrier / special windows for all units, even after midnight , a lot of cars passing by.
    3) nearby power plant concerns
    4) entrance location, if possible , bypass the route to Tesco/E gate
    5)other future residents, please voice out . This is not a cheap flat, but supposed to be a luxury condo , we must be vocal

  143. Vertiq_Fever
    April 3rd, 2012 at 15:16 | #143

    Vertiq will appreciate by at least 30% upon completion? Support??

  144. Lily
    April 3rd, 2012 at 15:38 | #144

    If Dave claimed others are buyers who trying to run down this condo to buy cheap . Then , Dave could be a speculator who trying very hard to promote this condo , to get highest selling price. Hahaha… We , landed property owners sit by and watch the circus show

  145. Vertiq_Fever
    April 3rd, 2012 at 16:25 | #145

    @Low
    1) Heard that the power plant actually releases water steam only? so not much to worry actually. Since IJM office is just next to it also.they would know better.

    2) Traffic jam would not be that worse.

    3) For those who bought units at pearl regency & vertiq, please voice up your concern and expection from IJM just like Low said. sound barrier & special windows for all units. Write to the boss of IJM

  146. Vertiq_Fever
    April 3rd, 2012 at 16:30 | #146

    For all the buyers of pearl regency & vertiq, if you are staying in one of those units in future, don’t worry..can make complain so easy the IJM office next door only…

  147. Vertiq_Fever
    April 4th, 2012 at 10:47 | #147

    Bayan mutiara condo!!!! who’s up??

  148. Vertiq_Fever
    April 4th, 2012 at 15:00 | #148

    IJM is the best developer in penang island..support??

  149. LT
    April 4th, 2012 at 15:36 | #149

    IJM is the best in goreng price…condo next to big power plant and in congested area also got lots of people support..

  150. PENANG GUYS
    April 4th, 2012 at 16:36 | #150

    this project really really expensive@@

  151. Vertiq_Fever
    April 4th, 2012 at 16:46 | #151

    so why sold out? even IJM best in goreng price?

  152. Vertiq_Fever
    April 4th, 2012 at 16:48 | #152

    whats the big deal about that power plant? even IJM office next to it guys.big boss won’t go to office if its really that serious………..

  153. LT
    April 5th, 2012 at 08:30 | #153

    IJM big bosses most of the time are golfing and only goto the office occasionally lah…only administration staffs stay in the office.. Yeah, the big power plant is no harm to health, same thing was also told about the Lynas rare earth factory…

  154. Vertiq_Fever
    April 5th, 2012 at 15:17 | #154

    Yeah right..golf…

  155. wbk
    wbk
    April 7th, 2012 at 10:43 | #155

    The Address by IJM at Bukit Jambul also sold out. I heard 800 psf. Seems like IJM, SP Setia and E&O projects are the most laku in Penang Island.

    E&O just bought by Sime Darby, SP Setia by Khazanah. I think soon IJM will be sold also. Cash out while they can.

  156. M3
    April 7th, 2012 at 15:07 | #156

    IJM sold the address condo unit at abt 490psf and has now increase to abt 530psf. The loft is selling abt 700psf…….

  157. jerry
    April 7th, 2012 at 16:54 | #157

    @wbk
    sime darby bought 30% stakes in E&O maybe placing one or two board of directors..it is not a full takeover…SP setia is facing PNB full takeover after triggering 33% stakes…sad to see those good companies being acquired just like that after they were builded up with bloods and sweats…

  158. Vertiq_Fever
    April 10th, 2012 at 18:39 | #158

    What about vertiq? sold out all?

  159. Vertiq_Fever
    April 12th, 2012 at 12:53 | #159

    Earthquake! Property prices in penang wont drop ah?? Prone to tsunami

  160. dave
    April 16th, 2012 at 12:44 | #160

    hey lily…u r not the only one with landed property in penang..so m i…and tht doesnt stop me frm being a buyer of vertiq…n if u have such a huge problem with the location as the chimney next door…bugger off..no one is forcing u to buy vertiq…n dun worry ijm wont come to ur hse to promote the development to u hoping for u to invest it in..they have surplus of investors which they find it hard to handle..

  161. Vertiq_Fever
    April 16th, 2012 at 16:26 | #161

    @dave
    Yeah right! support u dave

  162. Vertiq_Fever
    April 16th, 2012 at 16:27 | #162

    Anyone knows whether vertiq sold out???

  163. prop guy
    April 21st, 2012 at 21:16 | #163

    call ijm..they know

  164. Vertiq_Fever
    April 23rd, 2012 at 10:28 | #164

    @prop guy
    Save costs..i thought anyone would know here.

  165. Vertiq_Fever
    April 23rd, 2012 at 10:46 | #165

    IJM Developer good or not in Penang?

  166. prop guy
    April 29th, 2012 at 21:04 | #166

    good or not, depends on who you ask. generally ok lah

  167. Vertiq_Fever
    May 4th, 2012 at 09:08 | #167

    Anyone knows hows the progress for vertiq?

  168. prop guy
    May 8th, 2012 at 00:21 | #168

    SnP signed , but still no release units??

  169. Vertiq_Fever
    May 8th, 2012 at 12:45 | #169

    @prop guy
    U bought one?

  170. prop guy
    May 8th, 2012 at 13:38 | #170

    no la.. see got any release units or not .. nobody call me

  171. Vertiq_Fever
    May 9th, 2012 at 09:20 | #171

    U sure? U try and call IJM..heard from the sales officer theyre still units left..

  172. Vertiq_Fever
    May 9th, 2012 at 09:25 | #172

    @prop guy
    Which type of unit u plan to get?

  173. prop guy
    May 10th, 2012 at 00:28 | #173

    @Vertiq_Fever
    type A B or D

  174. prop guy
    May 10th, 2012 at 00:29 | #174

    Vertiq_Fever :
    U sure? U try and call IJM..heard from the sales officer theyre still units left..

    the units left are the larger ones, very expensive

  175. Vertiq_Fever
    May 10th, 2012 at 16:55 | #175

    @prop guy
    How bout type E?

  176. Vertiq_Fever
    May 10th, 2012 at 16:56 | #176

    @prop guy
    U mean until now no units release yet?

  177. prop guy
    May 11th, 2012 at 07:16 | #177

    i no idea, only ask the sale people to call me for those type

  178. Vertiq_Fever
    May 11th, 2012 at 09:49 | #178

    Type E is better..y not consider type E?

  179. prop guy
    May 17th, 2012 at 15:40 | #179

    any news here?

  180. winter
    May 22nd, 2012 at 11:25 | #180

    Did anyone pay visit to ijm office recently?
    Any update on the remaining units?

  181. cola
    May 22nd, 2012 at 11:35 | #181

    Need to consult the experts here…
    Someone offered me his Bb unit(1087sqf), city view with 3 car parks at 699k after completion. Is it worth?

  182. Crystal Ball
    May 22nd, 2012 at 11:55 | #182

    @cola
    No need to ask expert, go and check the transaction record of the nearby Platino project. If the trend of price & frequency of transaction already go downhill, then you know what to expect lah..

  183. prop guy
    May 23rd, 2012 at 23:04 | #183

    also consider what the light can do to overall e-gate property

  184. cindy85
    May 28th, 2012 at 12:55 | #184

    @cola, it might be a good price at good location at 2015.
    Time will prove. No need to ask more.

  185. IJM
    May 28th, 2012 at 13:04 | #185

    Might be under water as well at 2015 :)

  186. Chuah
    May 28th, 2012 at 13:13 | #186

    @IJM
    I have the same thought.

  187. yeah
    June 15th, 2012 at 14:46 | #187

    IJM :
    Might be under water as well at 2015

    yes, it should be still underwater because you missed it :)

  188. AhKau
    June 22nd, 2012 at 17:52 | #188

    What do you mean for underwater? too deep d.

  189. paul
    June 25th, 2012 at 16:01 | #189

    cazy price look like it is not the real picture !!!
    wait till it fall then every body will know it !!!

  190. abo
    June 25th, 2012 at 20:09 | #190

    or when it goes up then you know it :)
    you can go back to bayan baru to buy ..this place too high class for you :)

  191. ZAKARIYYA
    June 26th, 2012 at 13:08 | #191

    I think the location at Lebuh Tg kudin is very good, very convenient, and very easy to go to Mainland, USM, Grenelane, and Georgetown. No doubt about the IJM’s quality. WORTH BUY but no money.

  192. abo
    June 26th, 2012 at 14:58 | #192

    yup. but too bad some people who can’t buy said bad thing about this place.

  193. ZAKARIYYA
    June 28th, 2012 at 09:49 | #193

    Among the 4 condos there, the best location is Bayswater, followed by Platino. Vertic is 3rd and Pearl Regency is 4th.

    Considering the power plant so near just across the road, then the Raffles Tower location at Jln Bukit Gambier will be much better.

  194. abo
    June 28th, 2012 at 11:03 | #194

    Raffles access very difficult, and can’t use highway to go to town

  195. any
    June 28th, 2012 at 12:11 | #195

    IJM Property is not as good as it seems, there are a lot of complains (Platino) regarding the facilities and the finishes accordingly with the selling price.

    The price is extremely high which I personally have doubts on the appreciation value in the future. RM550 and selling @ RM700 in the future is quite impossible. RM700 x 2k sq ft is already 1.4mil = landed property in Penang.

    The location of this condominium doesn’t express the luxuriousness of living in a condominium right there, i rather stay Landed with 1.4mil / Super Condo @ 1.4mil near gurney drive.

  196. CCP
    June 28th, 2012 at 12:55 | #196

    Pearl Regency and Vertiq are too near to each other. A big turn off indeed.

  197. ZAKARIYYA
    June 28th, 2012 at 13:34 | #197

    It is very hard to get good location for new landed property in Penang Island.

    Look at Sunway Batu Maung, the accessible road is terrible. The accessible roads to SP Green and SP Vista are also not so good. The so called good location for landed property in Penang, the price must be more than 1.4million.

    Not affordable to many.

    Buying RM550K today and selling RM700K in 2015 is definitely possible!! ! Penang boleh…..

  198. CK
    July 15th, 2012 at 23:23 | #198

    CCP :
    Pearl Regency and Vertiq are too near to each other. A big turn off indeed.

    big turn-off? you want also sold out already lah

  199. cindy85
    July 17th, 2012 at 09:57 | #199

    MOST of the visitors who have purchased properties at The Star Property Fair 2012 are Penangites, who are attracted to property priced below RM1mil.

    IJM Land Bhd senior manager (sales and marketing) Patsy Lee said the group had locked in RM12mil worth of sales for the first day.

    Some RM7mil of sales were generated from the Vertiq, a condominium project in Metro East-Udini, and the condominium-cum-duplex loft -The Address in Bukit Jambul, while The Light collection III generated another RM5mil.

    The selling price of Vertiq starts from RM700,000 onwards, while The Address in Bukit Jambul from RM900,000 onwards, and The Light Collection III starts from RM800,000 to RM3.5mil.

    ”Most of the buyers are attracted to projects that are priced below RM1mil,” he said.

    Ivory Properties Group Bhd corporate communications manager Ann Tan said the group sold RM5mil worth of projects, comprising sales from The Latitude in Tanjung Tokong and The Wave in Penang Times Square, which are priced between RM600,000 and RM700,000.

  200. v2
    July 17th, 2012 at 16:19 | #200

    The selling price of Vertiq starts from RM700,000 onwards

    good news then!

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