The Central @ Penang Times Square

George Town/ 28 March 2014 Leave a comment

The Central, the phase 4 development of Penang Times Square, is a new masterpiece that epitomizes city living on a grand scale. Set to become a new landmark in George Town with its iconic giant red frame establishing a bold identity. Standing at 500 ft high, it comes highest state-of-the-art rooftop facilities and a restaurant with 360° view of George Town and its UNESCO World Heritage Site.

Property Project : The Central @ Penang Times Square
Location : Penang Times Square, Georgetown, Penang
Property Type : Commercial Suite/SOHO
Total Units : 654
Land Tenure: Freehold
Developer : Ivory Properties


  1. Bryant
    March 28th, 2014 at 09:38 | #1

    Almost 1kpsf…But I think during cny there was some promotion going on for this property is it?

  2. MariaOzawa
    March 28th, 2014 at 10:11 | #2


    Aiyo, always got promo one lah this ivory. Their favourite is the CNY promo discount RM88,888. And then the Merdeka promo discount RM55,000 (55 years merdeka mah)…..:)

  3. tcc
    March 28th, 2014 at 10:12 | #3

    At the moment they only releasing the unit facing west, except the corner units which almost fully taken up, there are still plenty of intermediate units left. You are free to choose basically, not a common sight when come to Ivory’s new launch project.

    The units facing east will be release soon, should be more highly sought, but again price will surely increase again. This is the same marketing strategy deployed on The Wave.

  4. MariaOzawa
    March 28th, 2014 at 10:21 | #4


    In view of the current property glut, launching all the 600+ units would be suicidal. They have to stagger the launch, so that it won’t look so bad.

  5. tcc
    March 28th, 2014 at 11:04 | #5

    I read from a Chinese forum this kind of strategy may be a good potential for buyer, as you basically need to put 10% upfront and wait for the price appreciation in next 5 – 6 years time. And as buyer only have to pay progressive interest, as long as Ivory doesn’t start construction fast, amount may not be high. Don’t think Ivory would bankrupt also, it is public listed company with Penang world city, the golden goose on hands.

    I heard the wave during initial launch only ~650k, after 1-2 years, the price increase to >900k, and construction not even started.

    This is the magic in investing in Ivory’s project, let time does the magic for you.

  6. SVP ONG
    March 28th, 2014 at 16:28 | #6

    Good luck to you.

  7. uncool
    March 28th, 2014 at 22:53 | #7

    pretty strange, the low floors have been gray out, they said pending nego with purchasers, just wonder who the purchasers are? Perhaps they have a problem to get bulk purchase, since the gov only allow a person/company to book 4 units. :)

  8. Lim
    March 28th, 2014 at 23:13 | #8

    I think so. When I purchased my Wave is RM750k but now already rm 1 mil.

  9. lim
    March 29th, 2014 at 09:25 | #9

    No matter what, Gurney, Tg Tokong & Georgetown are still a better place to invest or to stay if you compare to Bayan Lepas, Bt Maung, Sg Ara, Relau, Teluk Kumbar, Balik Pulau…

  10. steve
    March 29th, 2014 at 15:57 | #10

    Everyone knows that Ivory sell garbage. Times Square is a dump

    Lim, you say yours is worth $1m, maybe on paper based on Ivory’s current selling price but you try and get your million, not so easy

  11. Bulk buyer
    March 29th, 2014 at 17:50 | #11

    Our members have taken up more than 30 units of The Wave at a special preview. If price has really gone up 30% – 40% since, all of us will be overjoyed with the paper gain.

  12. Fjh
    March 29th, 2014 at 18:10 | #12

    @Bulk buyer
    Serious? West or east wing? What’s the purchase price?

  13. oo
    March 29th, 2014 at 18:42 | #13

    Hello guys, just for your information. Latest transaction from my company listing for phase 1&2 is RM700k (3bedroom unit)

  14. MU
    March 29th, 2014 at 18:55 | #14

    Just my opinion, property is long term investment. For me, PTS still have plenty of potential and off course is growing. Location still is the superb 1..After 8yrs or no10yrs..no more development in penang. No land..in town area.No surprise even the Wave with price tag of RM1.7M++..

  15. Lim
    March 29th, 2014 at 22:37 | #15

    I buy PTS 1 at RM270k and sold RM600k last year. Now I still have a unit at PTS 2 which renting RM2200 and I can sell RM700k anytime. So I believe when the wave is done it will hit easily at RM1.4 mil. Anyhow PTS is sitting at town area and make it so easy to sell or rent. For me it a good investment.

  16. Joey
    March 30th, 2014 at 03:53 | #16

    For property investment, location always come at the first place. 2 years+ ago after PTS phrase 2 got the OC, my friend (a housing agent) told me that a group of Indonesia Chinese came in bus to purchase the phrase 2 units. In fact there are many foreigners staying in PTS especially Japanese.

  17. lim
    March 30th, 2014 at 05:20 | #17

    No matter what, Gurney, Tg Tokong & Georgetown are still a better place to invest or to stay if you compare to Bayan Lepas, Bt Maung, Sg Ara, Relau, Teluk Kumbar, Balik Pulau

  18. oo
    March 30th, 2014 at 11:54 | #18

    I believe “the wave” going to stay the job by next month already. Once completed in 3yrs time, 1.3M or 1.4M won’t be surprise. And your phase 2 or phase 1 unit can be at 900k to 1M at that time..
    Depend on furnish or non furnish..renovated condition..

  19. Bulk buyer
    March 30th, 2014 at 14:32 | #19

    We got a very good deal compared to the rest of the individual investors. That’s all I can say. Judging from the optimism of some of the buyers here, I can say our members should be able to dispose off their investment easily.

  20. Ken
    April 4th, 2014 at 06:01 | #20

    I have a 2BR condo at PTS 2 for rent. I bought it 2 years ago and the capital appreciation has been rewarding. However rental is a different matter. It has not been easy although I am prepared for a lower rental. Holidaying expats seem to prefer condos with close proximity to the beach and with balconies. As for working expats, they prefer condos close to the industrial areas and penang bridge for easy access to the mainland. What type of tenant market are we looking at for PTS 2?

  21. Hotel69
    April 4th, 2014 at 07:47 | #21

    People who like to party every night at the discos downstairs, and pray every day at the indian temple across the road?

  22. Lim
    April 4th, 2014 at 22:08 | #22

    There is a lot of foreigner over here actually. PTS was just located at Penang Heritage Zone and city central. It actually demand for it. Just think if a person who’s wanted to stay at town and with fully equipped condo, there is no much choice. Just get a right broker then you will find a right tenant.

  23. oo
    April 5th, 2014 at 09:46 | #23

    Not much condo in town area with freehold title u can choose.. That’s why the price is high.. U will never get this kind of price by next year anymore. All wil up because GST implement..

  24. buystc
    April 8th, 2014 at 01:48 | #24

    Accessibility of a property drives asset appreciation by all means. Such as proximity to city amenity, government offices, heritages, easy access to motorway (Lebuhraya Tun Dr. Lim Chong Eu) for airport and more importantly within the proximity of few local private hospitals. It is unfair that Metropolitan gains even more in future infrastructure development such as tunnel link to mainland and mass rapid rail transport likes any other cities, but it is the fact of life!

  25. d
    April 8th, 2014 at 09:40 | #25

    This one is SOHO. Assessment rate 5k minimum for this location… :)

  26. SG
    April 8th, 2014 at 09:41 | #26

    This one is SOHO. Assessment will be 5k above for this location…

  27. PPinang
    April 8th, 2014 at 10:11 | #27


    RM5K assessment is ok provided you can rent it out for RM5k a month. Can or not?….:)

  28. tcc
    April 8th, 2014 at 10:29 | #28

    There are still plenty of units left, price >900psf after discount. However I believe after 2 years, those decided not to buy now will again feel regretted, just like what happen to The Wave 2 years back.

  29. oo
    April 8th, 2014 at 20:13 | #29

    Sure will regret.. Next year 3bedroom corner is above 1M…Those can not buy…phase 4..still can buy phase 1&2..

  30. oo
    April 8th, 2014 at 20:15 | #30

    Phase 1&2 only RM670k to RM800k.. Still cheap..

  31. GongK
    April 9th, 2014 at 11:02 | #31

    oh wow……SOHO….SOHO huh! SOHO?? Why SOHO??? Why build SOHO??? Thought MPPP put a stop on SOHO???? SOHO again????

  32. citi
    April 9th, 2014 at 21:03 | #32

    I have contacted a few agents but so far no positive results. Any suggestions where I should look. Thanks. citi/Ken

  33. Helen
    April 23rd, 2014 at 23:47 | #33

    1 unit for sell at birch plaza phase 1..

    1 carpark
    Fully renovated
    Fully furnish
    Only selling RM730k (Bank Value 760k)
    PM if interested.

  34. Steve
    June 6th, 2014 at 23:51 | #34

    I hear some of my friend say The Central already sell at 680k for 665 sqf unit??? Is that truth? Why so expensive? Any can share? Any attrative on this project..

  35. Steven Gui
    June 8th, 2014 at 02:34 | #35

    is 666,800 8% rebate plus 5% rebate for the deposit. Actual price are RM582,783 for the 665sqf.
    Deposit is 30k.

  36. JJ
    June 23rd, 2014 at 13:04 | #36

    Steve :I hear some of my friend say The Central already sell at 680k for 665 sqf unit??? Is that truth? Why so expensive? Any can share? Any attrative on this project..

    I think the most attractive thing is jam jam and jam, lol. Well, it is prime location anyways, easy to pay saman also, walking distance niah.

  37. Highest
    August 10th, 2014 at 15:42 | #37

    Can anyone know…The Central is higher or The latitude is higher?

    I mean the building height..

  38. ChapCheng
    August 10th, 2014 at 16:11 | #38


    I am just curious, why do you want to know?

  39. Pg Gal
    October 4th, 2014 at 02:48 | #39

    anyone knows the current price value for the corner unit and also the 600 plus unit?

  40. serious buyer
    October 12th, 2014 at 23:54 | #40

    The central 665sf got how many room?
    665sf now how much d?

  41. DVGal
    November 6th, 2014 at 04:15 | #41

    665 sf has 2 room and 2 bedroom
    the bigger unit-corner ones which I believe is 1200+ sq ft is 1.2 mil
    This info is back in Aug hence I dont know if they have hiked the price nor if its available

  42. Goppal
    February 17th, 2015 at 23:40 | #42

    ivory is really struggling with PTS… ivory is a good and successful developer of course but with their other projects like latitude, city res, and all other… even the world…. but PTS is quite a struggle for them… their hotel plan in PTS didnt work out… then the multiplex dont know what happen…. now they are trying for mini korea city in phase 2… the wave so long already no progress… now the central… the central… and i think they also planned a convention centre within the PTS… sad… it is an ambitious project which supposed to have all in one but dont know why very slow….

  43. Lim
    August 30th, 2015 at 19:44 | #43

    Just saw the plan already change. Now they break to 2 block. 1 is hotel and another 1 is service apartment.

  44. Georgetown
    November 11th, 2015 at 10:06 | #44

    Interested on 665sqf… How much is the price now?? Any one have more detail..pls share..

  45. PTS
    November 11th, 2015 at 11:32 | #45

    Hear that official launching is by Jan of 2016..and is RM1000+psf.
    They have road show at gurney by end of dec..can double check on detail for this project…
    But this is still consider cheaper compare to summit project at magazine road..

  46. Lim
    November 11th, 2015 at 12:07 | #46

    Heard is sold out all wave and central. But u can check out 2ith ivory maybe they will have hidden unit.

  47. Waveless & Centraless
    November 11th, 2015 at 12:19 | #47

    All sold out ? Hahahahaha ……..haha……….haha……

  48. ??
    November 11th, 2015 at 12:54 | #48

    I only hear The wave non bumi lot all sold out. Bumi lot still a few unit.
    The central not even launching but all unit taken?????? Are u sure?

  49. Bluffing
    November 11th, 2015 at 13:06 | #49

    Trying to create history no one knows.

  50. John Tan
    November 11th, 2015 at 14:01 | #50

    I don’t think this project already launched. Still review stage..

  51. hdst
    November 11th, 2015 at 15:05 | #51

    I also heard from the sales attendance that all the units at the central already being taken up. They are selling at ~1200psf with semi reno/furnish package. Well…this is so called pre-book basis, so it doesn’t matter whether the project is officially approve or not, where as far as I am concern, it is not.

  52. No Central
    November 11th, 2015 at 17:08 | #52

    I also heard that this project is way beyond for booking because it wasn’t approved.

  53. Not central
    November 11th, 2015 at 21:15 | #53

    I not believe all unit been taken up. No launch.. Where buyer come??? Unless they are playing sticker game. .
    If RM1200psf then smallest unit 665sqf will be around RM800k.. Who want buy this???? Based on market now..this not make sense..

  54. Mary
    November 15th, 2015 at 16:40 | #54

    This project already launching? No see any advertisement or roadshow..

  55. KC
    December 5th, 2015 at 13:54 | #55

    Hear majority of unit been taken up.

  56. Truth
    December 28th, 2015 at 14:15 | #56

    Those unit are selling at RM1200psf.. RM800k above..Singaporean sapu all?? If local ppl sapu those unit… I don’t believe..

  57. J
    December 28th, 2015 at 14:24 | #57

    Reading back this comment after 1 year. How to sell pts 1 and 2 for 1m???

  58. J
    December 28th, 2015 at 14:26 | #58

    Ur sight is not far enough :) even juz one year. @oo

  59. oo
    December 28th, 2015 at 16:55 | #59

    We are talking on The central corner unit..selling at 1M above.. All corner lot already sold out..
    PTS 1&2 still in range of RM670k to 800k..

  60. oo
    December 28th, 2015 at 16:58 | #60

    Ivory will have road show on 1st of january.. You can check with them. Most of unit already taken up. Limited unit available. I think they target foreigner buyer..

  61. J
    December 29th, 2015 at 02:22 | #61

    U must be kidding. PTS 1&2 can hit 800k now? @oo

  62. J
    December 29th, 2015 at 02:28 | #62

    oo :
    Ivory will have road show on 1st of january.. You can check with them. Most of unit already taken up. Limited unit available. I think they target foreigner buyer..

    What is the point of having roadshows since there are only limited units available? :)

  63. oo
    December 29th, 2015 at 11:04 | #63

    General selling price on market is RM670k to 800k. Unfurnish to fully furnish. 800k is move in condition& it depend on how is the renovation too.

  64. Korean
    December 29th, 2015 at 13:30 | #64

    I think RM700k to 800k is reasonable price. Depend on condition.

    PTS 1&2 selling at RM690psf to750psf
    The Wave selling at RM850psf to RM900psf
    The central selling at RM1000psf to RM1200psf

  65. Joe
    January 24th, 2016 at 08:14 | #65

    I heard that The Wave is currently stopped building. Do you know why?

  66. No Wave
    January 24th, 2016 at 15:51 | #66

    Same fate as Penang Times Square.

  67. ck
    January 24th, 2016 at 18:56 | #67

    @No Wave
    Can you share more detail? The reason of no build…

  68. Ong
    January 25th, 2016 at 08:10 | #68

    The wave still in piling earthwork stage. 70% of piling completed. You can see ivory website to actually see the progress.. The wave &Central sold off..left a few bumi lot. The wave is RM1000psf at this moment whereas The central is at RM1200psf… Both are under commercial title..project.. Only phase 1&2 is residential.. No need keep on giving info with no fact data. Every one know what is the product we are buying..

  69. Carrier
    May 21st, 2016 at 18:55 | #69

    I saw the project drawing already changed. Still available?? Interested.

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