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Crown Penang

Tanjung Tokong/ 12 November 2021 Leave a comment

crown-penang-main

Crown Penang, a serviced residence development by Ivory Properties Group at Seri Tanjung Pinang. Strategically located near Jalan Seri Tanjung Pinang, on a 2-acre land between The Tamarind executive apartment and Marinox Sky Villas condominium. It is just a stone’s throw away from Gurney Drive and Straits Quay, with an unobstructed panoramic view of the man-made island of STP2.

This development will see the construction of a 40-storey building, comprising 30 levels of serviced suites and 8 levels of car parking podium.

The project is still in its planning stage and is expected to launch in 2022. More details will be available upon official launch.

Project Name : Crown Penang
Location : Seri Tanjung Pinang, Tanjung Tokong
Property Type : Serviced residence
Tenure: (to be confirmed)
Built-up Size: 590sq.ft. – 1,575sq.ft.
Total Units : 588
Indicative Price: RM500,000 onwards
Developer : Ivory Properties Group

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DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.
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  1. lim
    January 31st, 2022 at 02:04 | #1

    Hi all. I’m have bought a unit from Ivory (One of the Ivory’s project at Georgetown) at year 2012 and s&p date at 2013. Until today 2022 I still cannot get my key. When I call up to Ivory and no one can give a proper answer. Try to imagine I’m wasting my 10 years time and so much of bank interest. It is always important to purchase your property from a responsible developer. I’m not to gossip or worsen any developer but I’m sharing my real hard felling here. It is because purchase a property is one of the big deal in our life.

  2. yong
    February 5th, 2022 at 10:09 | #2

    lim, no point to state here as there is no details information about ur purchase project. Ppl will assume u cari pasal without fact

  3. Worry
    February 5th, 2022 at 10:53 | #3

    @lim
    I fully understand your feeling & know about your mentioned project. I definitely agree what you said. Unfortunately, i can tell you do prepare as it could be another year without key collection i guess. That’s no any construction works begin since MCO until today also. It may continue soon or later but don’t think can be completed this year even though developer did mention this year.
    It’s important to pick the right developer. And Penang world city project already screw up as land selling piece by piece to other developer to handle. Overall plan already mess & sales are handled by other developer or sales team too.

  4. Willy
    February 5th, 2022 at 11:55 | #4

    Wasnt this piece of land given to Zenith initially by our state gov as a reward for some work (only god knows what work as nothing can be seen!!) done?

  5. lim
    February 5th, 2022 at 18:27 | #5

    @yong
    Hi Yong. I believe all reader will agree and understand the character from IVORY. Furthermore the building is now standing at Georgetown without any work progress, it should be a strong fact. A unresponsive developer keep delay and delay and all purchasers need to pay the interest every month. We as a customer and have a right to know what happen to your project but unfortunately IVORY they cannot give a proper answer. That is why we need to purchasing property from a good and responsible developer. Don’t invest your hard earn money on wrong person!

  6. koyak
    February 7th, 2022 at 16:52 | #6

    @lim
    Kau pe Kau bo for what?? Claim LAD from developer loh. By the SPA, when should the developer deliver VP to you at the latest, before they are liable to pay you LAD?

  7. koyak
    February 7th, 2022 at 17:12 | #7

    furthermore, LAD rate is 10% of purchase price, definitely much higher than your finance cost, and that should help you recoup some money from this overpriced property. So, don’t complain lah kanina!

  8. lim
    February 7th, 2022 at 22:23 | #8

    Sound like person from developer. Some more got bad word. This is open discussions, everyone have a right to sound out. Im just talking the true and pls don’t used violent. Don’t act like gangster!

  9. MeNotStupid
    February 8th, 2022 at 16:26 | #9

    @koyak
    Koyak, you are from Ivory is it? why so defensive of Ivory? Any how, we all know how “good” is Ivory as a developer.. they have screw Penang ppl a lot of time with their subpar development. Those who are interested in this project, do some research on Ivory before commit anything… I am sure 99% of you guys will no longer interested after done proper research.

    If you want to buy from that area, get something like The Tamarind or Straits Residence there.. It is much better in term of quality.

  10. penangites
    February 8th, 2022 at 19:53 | #10

    Ivory=I worry

  11. Prof Jong
    February 8th, 2022 at 22:16 | #11

    Ya, Ivory’s Times Square is really koyak! I still remember just a few years back when the whole mall there was filled with ALL MBI scam shops, it was practically a scam mall, with our local council turning a blind eye. Ivory also shared same office space with MBI. Are the scammers making a come back here?

  12. Wave
    February 8th, 2022 at 22:45 | #12

    The whole MBI collapse already. And it’s good for every to avoid from those scamers.Times square now back into peaceful rather than flooding with scamer & people from who invest into scheme. It’s more on residential now. I believed the reason of developer delay the project was due to cash flow issue. And don’t forget phase 3 commercial space belong to developer also. If they couldn’t get tenant then they have to delay again due to poor cash flow & not making money for commercial space & still balance unit unsold for condo. Developer is not good in managing commercial lot & city junction is good example also.

  13. City Residence
    February 8th, 2022 at 23:36 | #13

    come buy come buy Crown
    u can wear the crown later

  14. chas
    February 9th, 2022 at 08:28 | #14

    The whole of City Junction was sold to BoonSiew family many years ago. Just so you’re updated.

    @Wave

  15. Max
    February 26th, 2022 at 15:16 | #15

    @MeNotStupid
    which developer do you work for? lol. so many purchasers have earned money from their products in the past. are u mad for missing out?

  16. Max
    February 26th, 2022 at 15:18 | #16

    @Prof Jong
    Unfortunately when the whole building has already been sold to third party, not even the developer can control what goes into the building anymore

  17. Max
    February 26th, 2022 at 15:26 | #17

    @Wave
    To be honest, the residential products especially those in Batu Ferringhi are great. Only weakness is the commercial properties that are already sold to someone else that may not do anything with those properties.

  18. tt
    March 14th, 2022 at 16:31 | #18

    if compare to the meg, crown price per square feet more expensive ah. better go for ENO than IVORY. but i no money to pay for the meg downpayment

  19. andyyy
    March 15th, 2022 at 09:45 | #19

    The Meg cannot use to do BnB lar…..it is service residence so for sure the resident there will object kao kao. Also the Meg is fully furnish….so the rental market going to be bloodbath fight.

    for Ivory…..really ‘I Worry’ better run far far…

  20. TheCookies
    March 15th, 2022 at 10:22 | #20

    @andyyy

    Ei Ello!

  21. Sam
    March 15th, 2022 at 10:28 | #21

    @andyyy

    “I worry” itself is definitely not in good shape, but the fact that it is a public company, so I guess it will be around for quite some time. Their recent purchase of copthorn hotel in Tanjung Bunga for re-development also re-affirms their intention to keep things going. And you are absolutely right about the Meg, fully furnished units = rental bloodbath, especially when the entry barrier is low at RM700k+/-??, making it affordable to TomDickHarry, although psf -wise, it’s definitely not cheap.

  22. PenangPlayBoy
    March 25th, 2022 at 12:59 | #22

    This Ivory is really scums of developers. They yet to get approval from MBPP but already started to take deposit for this project and already in legal violation. I just found out when I plan to put in deposit and luckily checked with my bro in law who is working in MBPP before putting deposit. I advice those who already deposit to demand money back first or at least do your own diligent and asked them to proof that they have the approval from MBPP ( WHICH I GUARANTEE 100% don’t have yet atm). Please check properly before putting in your deposit

  23. I worry.
    April 12th, 2022 at 19:00 | #23

    @PenangPlayBoy
    Developer has very bad cash flow. And even The Wave hanging around for many years. The project stopped since MCO until now still stop. And no respond from developer also even people try to ask when is VP. And initial mentioned was mid of 2022. But i can guarantee if you able to receive the house by year 2023 already very lucky. And building structural itself also keep on aging as no intention to start work anytime soon by developer. Material cost all increase & no money. And even the tenant of work space also unknown. Now they are probably trying to get some cash flow from The Crown. And looking at Queens bay mall front land also up selling for RM700/psf. I worry.

  24. PenangPlayBoy
    April 17th, 2022 at 12:15 | #24

    @I worry.
    This is sad. I was really thinking of buying it due to the location but looking at the developer’s practice and history, it is better to stay away from this project. Only fools will buy this project. A developer that associate themselves with one of the biggest Ponzi scheme in Penang, better run away from them

  25. ThePotato
    April 18th, 2022 at 20:09 | #25

    PenangPlayBoy :
    @I worry.
    This is sad. I was really thinking of buying it due to the location but looking at the developer’s practice and history, it is better to stay away from this project. Only fools will buy this project. A developer that associate themselves with one of the biggest Ponzi scheme in Penang, better run away from them

    So what u plan to buy?

  26. I worry.
    April 19th, 2022 at 08:41 | #26

    @ThePotato
    Basically if you look for that area, you don’t need to rush into purchase if no urgent. That’s plenty of project upnext in Andaman. Just wait for a suitable project & go later.

  27. PenangPlayBoy
    April 20th, 2022 at 13:32 | #27

    @ThePotato
    Looking at The Tamarind or Straits Residence but both are quite expensive. For The Tamarind, those with nice view already gone or pricing is quite high price. Straits Residence is a bit over budget for me and only max 2 rooms while I personally prefer 3 rooms.

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