Big boom at property fair

GEORGE TOWN: The Star Property Fair 2012 ended with a bang with six major exhibitors from Penang and Kuala Lumpur generating some RM100mil in sales.

About 35,000 visitors turned up for the four-day fair, which ended yesterday.

Most of the properties sold were high-rise units on the island priced from RM500,000.

Houses in Seberang Prai were mainly bought by first-time Penangite buyers and those who wanted to move to higher-end properties.

IJM Land general manager (North) Toh Chin Leong said the group sold RM34.5mil worth of properties, generated by Vertiq, The Address and The Light Collection One and Two.

Tambun Indah Land Bhd executive director Teh Theng Theng said the group sold RM22.4mil worth of properties, comprising semi-detached and terrace houses in Seberang Prai and condominiums on the island.

“The landed properties are from the Pearl City@Simpang Ampat and Carissa Villas in Butterworth, while the condominiums are from the Straits Garden project in Jalan Jelutong, which is five minutes from the Penang Bridge and the city centre,” she said.

SP Setia Bhd (Penang) sales and marketing manager Susie Loh said the group registered RM13.3mil in sales from the Setia Triangle in Sungai Ara and Setia V Residences project in Gurney Drive, which were priced from RM575,000 to RM2.73mil respectively.

Ivory Properties Group Bhd corporate communications manager Ann Tan said the group sold RM10mil 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.

Ideal Property Development Sdn Bhd sales marketing manager Teh Yeow Jin said the group generated some RM10mil in sales from its Fiera Vista condominium project in Sungai Ara, with units priced from RM500,000, and commercial lots priced from RM300,000 at The One mixed condominium project in Bayan Baru.

Mah Sing Group Bhd (Penang) deputy general manager Serena Cheahsaid the group generated RM10mil in sales from its projects in Penang and Kuala Lumpur.

“We received 1,280 registrations for our projects in Kuala Lumpur and Penang. Of the names, about 80% signed for Ferringhi Residence project units that are priced from RM900,000,” Cheah said.

Units at M City are priced between RM600,000 and RM1.3mil while those at Garden Plaza are between RM300,000 and RM600,000.

Meanwhile, the Platinum III, the affordable housing project from TPPT Sdn Bhd, a wholly-owned subsidiary of Bank Negara Malaysia, received over 600 registrations.

Located at Teluk Kumbar, the houses are priced from RM400,000.

Property Talk director Steven Cheah said Platinum III would be launched in the fourth quarter of the year. Property Talk is the exclusive agent for the project.

Source: The Star

  1. wbk
    July 16th, 2012 at 17:11 | #1

    Don’t know whether the sales figure are fake one or not… The Star tak boleh dipercayai one lar… hehe…

    But hor… 100M not that great also lar… Many projects soft launched already “achieved” more than 100M booking liao lor… hehe…

  2. WTH
    July 16th, 2012 at 17:50 | #2

    should be a big bomb, haha

  3. seedym
    July 16th, 2012 at 19:35 | #3

    only 100m sales from 35,000 visitors, that seems very poor to me

    whats that 150- 200 units sold

  4. seedym
    July 16th, 2012 at 19:41 | #4

    I stand corrected, the 35,000 was over 4 days and the 100m was maybe the last day

  5. John
    July 16th, 2012 at 20:03 | #5

    All fake figures lah……

  6. lohboon
    July 16th, 2012 at 20:08 | #6

    the Star cannot believe anymore…only sports section is ok :)

  7. Ah Dog
    July 16th, 2012 at 20:09 | #7

    Yes, perception on 100mil not sounds that great. But, if you really go to the fair (i went there twice), and observe the actual situation, most of the projects exhibited were old projects, that already launched more than 6 months. Not many new projects, like platinum III, one Imperial, promenade, etc. are not yet open for sale. So, the 100mil sale were generated from ‘remaining’ units of major projects. [Not to say Tambun Indah’s SG Condo, you will continue to see this project on display in subsequent fairs, and everyday’s newspaper, to push for sale]

  8. lost
    July 16th, 2012 at 23:20 | #8

    MCA protest so much on hill development but their partner STAR is doing property fair to encourage people to buy hill project . .

  9. lost
    July 16th, 2012 at 23:24 | #9

    @Ah Dog
    during the property fair , the developers are actually selling the bumiputera lot. some of the buyers just do booking and once the bumiputera lot released, the developer will contact them.

  10. samanthafox
    July 17th, 2012 at 13:02 | #10

    how to believe these figures man?all these projects have been exhibit for more than 5 times in these few years. latitude has been launch since 2 years ago, the light I was launched like 2 years ago too.

    surely everyne pay deposit and withdraw later, or maybe loan got rejected

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