First phase of Aspen Vision City to complete by 2019


The first phase of Aspen Vision City in Batu Kawan, Penang, will be completed by 2019.

Aspen Group chief executive officer Datuk M. Murly said that the first phase comprised the Vervea which is a three to four- storey shop office project, the Columbia Asia Hospital, Ikea Store and Vertu Resort.

“Earthworks have already started for these projects,” he added.

Murly was speaking at a press conference on Friday after signing an agreement with Teka Kuchentechnik (Malaysia) Sdn Bhd managing director Foo Kok Chye at Aspen’s new sales gallery in Batu Kawan.

Under the terms of the agreement, Teka will provide RM5mil worth of kitchen appliances for Vertu Resort, the first residential development in Aspen Vision City which blends city living and resort lifestyle with state-of-the-art facilities.

Murly said the Vervea was already 90% sold while Vertu Resort, comprising 1,282 condominiums, was 50% sold.

“All units of Vertu Resort will have home furnishings by Ikea and kitchen appliances by Teka. Every unit also comes with at least two parking lots,” he said.

The units are priced between RM418,000 and RM600,000.

“The pricing of Vertu Resort is fairly competitive but we will not compromise on the quality of the product.

“This is because at Aspen Group, affordable pricing doesn’t result in cheaper finishes or appliances or lower quality.

“We strive to give the best price with value-added packages and services,” Murly said.

Sitting tall on seven acres of freehold land, Vertu Resort is the first resort-inspired high-rise development with fully furnished move-in condition in mainland Penang.

The project will be the first residential development in Aspen Vision City that is being planned as a sustainable development with a Green Building Index certificate.

Teka Malaysia, a German multinational organisation, is one of the first foreign kitchen companies established in Malaysia with a total market share of more than 25%.

“Our team is very excited about this undertaking and glad to be given this opportunity to work together with Aspen Group.

“We are confident that our quality products and innovative kitchen solutions will inspire home buyers in the north,” said Foo.

Aspen Vision City is being developed as an eco-metropolis with a unique mix of developments including the first Ikea Store in the northern region, Columbia Asia Hospital, Vervea commercial precinct, residential units, office towers, business class hotel, international school, financial hub and a 25-acre central park.

Source: TheStar.com.my

  1. Kawan
    May 3rd, 2016 at 10:31 | #1

    Thought can go Ikea end 2018, delay pulak..

  2. Batu
    May 4th, 2016 at 08:40 | #2

    Think Ikea still in plan 2018. Vertu is the last completion as part of 1st phase by 2019.

  3. CB
    May 4th, 2016 at 17:37 | #3

    News releases for the feel good, then sales for the properties in the surroundings to happen next before the actual development of those attractions. If you have the holding power to invest now and wait for few more years to get the return of investment, this area is good for you

  4. History
    May 4th, 2016 at 20:02 | #4

    Hold until old age of 65 ?

  5. CB
    May 5th, 2016 at 11:00 | #5

    well, hard to say. There is no guarantee how long you will need to hold. Because by the time the attractions ie IKEA completed, there are many choices in the surrounding for potential buyer to choose. The property you buy now is becoming the older among the new properties going to be launched in future in that area. Most of the initial investors are eager to let go their properties. That means supply over demand and you will have to drop the price to the beat the competition to sell. In the end of the day, the realized gain & nett profit may not seem attractive

  6. goodday
    May 5th, 2016 at 11:31 | #6

    when to know the price drop, good time to enter the city. Now I save my money in bank first.

  7. History
    May 5th, 2016 at 13:06 | #7

    @good day
    Then you have to wait at least 30 years for the completion of the whole project !!!!!!!!!!!

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