A newly proposed commercial development has been planned along Jalan Utama in George Town, occupying a relatively compact site of approximately 0.3 acres. The site is located near the George Town Remand Prison and within close proximity to City Stadium Penang.
The development will comprise a 27-storey office tower featuring 136 office suites. Given the limited land size, parking provision will be accommodated through an automated mechanical car parking tower. In addition, rooftop facilities are planned as part of the development.
The project is still pending approval, and further details will be made available upon its official launch.
Project Name: (to be confirmed) Location : George Town Property Type : Commercial (office suites) Land Area: 0.3 acres Total Units : 136 Built-up Size: (to be confirmed) Land Tenure : (to be confirmed) Indicative Price : (to be confirmed) Developer : (Follow us to find out more)
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Foreshore Residence, one of Penang’s most strategically located affordable housing developments, has been completed, with homeowners set to receive the keys to their new homes during an official handover ceremony on Aug 31.
Located along the Jelutong waterfront, the development stands out for offering affordable homes in the heart of George Town, where land values have reached nearly RM1,000 per sq ft. Despite its prime location, the Rumah MutiaraKu units were priced below RM300,000, making city-centre homeownership more attainable for Penangites.
State Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu described the project as one of the state’s premier affordable housing developments, citing its strategic location, affordability, accessibility and scenic sea and city views. He added that the development’s connectivity will be further enhanced by the proposed Penang Light Rail Transit (LRT) line.
The Foreshore development comprises two residential components. Foreshore Residence features 402 fully sold Rumah MutiaraKu Category C3 units measuring 900 sq ft, together with 80 fully sold Category C2 units sized at 800 sq ft. Residents will enjoy a dedicated facilities floor, five lifts and a low-density design with just 16 units per floor.
The development also includes 192 serviced apartments, of which about half have been sold. Available in three layouts ranging from 689 sq ft to 1,187 sq ft, the serviced apartments come with tandem parking and may be legally operated as short-term accommodation.
In addition, the project incorporates 14 double-storey shop offices, with seven units still available for sale.
Sundarajoo said the project had overcome numerous challenges since its inception, including land acquisition and technical issues, through close collaboration between the state government, the developer, consultants and relevant agencies.
The official handover ceremony, themed “Penyerahan Impian”, will take place on Aug 31, fulfilling the dreams of hundreds of homebuyers.
The completion of Foreshore Residence also marks another milestone in Penang’s housing agenda. The state has around 180,000 housing units completed, under construction or in various planning stages, keeping it on track to achieve its target of delivering 220,000 homes by 2030 and expanding homeownership opportunities for Penangites.
Kerjaya Prospek Group Bhd (KPGB) has strengthened its position in Penang through the completion of a strategic investment in Aspen Vision Land Sdn Bhd (AVL) and the acquisition of full ownership of Tanjung Bungah Development Sdn Bhd (TBD), both entities linked to Aspen (Group) Holdings Ltd.
In a filing with Bursa Malaysia, KPGB said its wholly owned sub-subsidiary, Kerjaya Prospek Ventures Sdn Bhd (KPV), has completed the subscription of new shares in AVL, giving it a 49% stake in the company. Separately, KPV has entered into a share sale agreement with Aspen Vision Tanjung Sdn Bhd to acquire the remaining 40% equity interest in TBD for RM80, resulting in TBD becoming a wholly owned subsidiary within the KPGB Group.
The move follows an earlier joint venture arrangement established in July 2025 to jointly develop two freehold parcels in Tanjung Bungah under Lot 2601 and Lot 3603. The land transaction, valued at RM117 million, together with estimated development expenditure of about RM124 million, represented 10.91% of KPGB’s net assets based on its audited financial statements for the year ended Dec 31, 2024.
The site was previously proposed for HH Park and Residence, a mixed development by Aspen comprising residential and commercial components. The project, which had been unveiled several years ago, has yet to materialise. With KPGB now taking full control of Tanjung Bungah Development Sdn Bhd following the termination of the earlier joint venture and shareholders’ agreements, attention is likely to shift to the group’s plans for the strategically located parcels overlooking the northern coast of Penang.
Located within Aspen Vision City, a 247-acre freehold township, Versa forms part of a thoughtfully master-planned township where homes, shops, parks, offices and lifestyle conveniences are seamlessly connected. As homebuyers increasingly seek more than just a desirable address, Versa delivers a balanced living experience defined by space efficiency, flexibility and long-term value.
Designed for How People Live Today
Versa features two 37-storey towers, with 490 units in each tower, and is targeted for handover in 2027. Units come in 2-bedroom layouts ranging from approximately 703 sq ft to 868 sq ft, a size range that makes perfect sense for urban living.
Versa Upgraded Option is now available for selected 2-bedroom units, allowing buyers to upgrade to a smart and functional 3-bedroom layout with semi-fitted finishes. It is the kind of flexibility that becomes genuinely useful in real life, whether that extra room becomes a study area, a guest room, a child’s room or simply more usable space as life evolves.
A Location That Is Already Well-Connected
Versa enjoys excellent connectivity, with key transport links and amenities already in place. Located just minutes from the Penang Second Bridge, it offers seamless access between the mainland and Penang Island’s major business districts. Residents also benefit from close proximity to prominent lifestyle destinations such as IKEA Batu Kawan, Design Village Outlet Mall, and Klippa Shopping Centre; placing dining options, retail experiences and daily essentials within effortless reach.
Complementing these conveniences is the 25-acre Central Park within Aspen Vision City, which provides a vibrant green sanctuary for recreation, wellness and community engagement. The development is also strategically positioned near the Batu Kawan Industrial Parks, home to a growing concentration of multinational corporations and manufacturing investments that continue to drive employment opportunities and economic growth in the region.
Together, these advantages contribute to Batu Kawan’s growing prominence as a dynamic urban hub, where residential, commercial, industrial and lifestyle components converge to create a well-connected, highly liveable destination.
Facilities That Go Beyond the Standard List
Versa does not stop at the usual pool-and-gym formula. It includes sports court, a putting green and even a skating rink, alongside a swimming pool, a fully equipped gym, yoga spaces, a multi-purpose hall, BBQ areas and landscaped gardens.
There is also a sky facilities deck on Level 35, with views of the city, surrounding greenery and even the distant coastline.
Part of a Bigger Township Story
Versa makes even more sense within the context of Aspen Vision City. The township includes residential areas, education hubs, healthcare facilities such as Columbia Asia Hospital Batu Kawan, and lifestyle conveniences like Soccer Experience, a Caltex petrol station and a 25-acre Central Park.
Add major nearby attractions such as IKEA Batu Kawan and Klippa Shopping Centre, the township begins to feel less like a development in progress and more like a place with its own daily rhythm.
Aspen has also committed approximately RM561 million in infrastructure investment to support and enhance the wider development. That investment has contributed to the improvement of road networks, connectivity and key facilities, making the township easier to live in, get around and better supported for long-term growth.
Why Versa Deserves Attention
Versa’s strength lies in how well it fits the way people live now and in the foreseeable future. It is practical, well-planned and easy to live in, with seamless connectivity that adds convenience to everyday life.
For first-time home buyers, upgraders and investors, Versa offers a compelling residential proposition in a well-connected location backed by robust infrastructure and growing momentum, presenting long-term value potential.
This is what makes Versa worth a closer look. If you are curious about the layouts, pricing or how Versa feels in person, click here to connect https://bit.ly/LiveChatWithAspen_Versa.
The Seberang Perai City Council (MBSP) has been urged to strengthen its existing planning approval requirements to ensure open spaces in new residential developments are equipped with quality recreational facilities from the outset, instead of remaining underutilised for years.
State Exco for Trade and Community Unity, Goh Choon Aik, said developers are currently only required to allocate 10% of the development land for open spaces and provide basic playground facilities. He proposed that MBSP incorporate clearer conditions under its Planning Permission (KM) approvals to require more comprehensive amenities.
These could include jogging tracks, exercise stations, aerobics plazas and underground drainage systems, allowing open spaces to enhance residents’ quality of life while preventing water ponding after heavy rain.
According to Goh, if technical constraints prevent developers from setting aside the full 10% of land, the shortfall should be compensated through the provision of more complete recreational facilities.
He made the remarks during the launch of the upgraded open space at Taman Mutiara Teratai in Bukit Tambun on 24 June.
The completed project features a jogging track, pedestrian walkways, underground drainage, children’s playground, outdoor fitness equipment, plaza, benches, waste bins, safety signboards and additional landscaping.
Goh, who is also the Bukit Tambun assemblyman, said the high-quality upgrade carried out by MBSP should serve as a benchmark for future residential developments.
Earlier, MBSP Mayor Datuk Baderul Amin Abdul Hamid said the local authority spent approximately RM176,006 to upgrade the 3,000-square-metre open space with various recreational facilities.
He added that MBSP remains committed to enhancing open spaces in existing residential areas in the future, subject to additional allocations or stronger financial resources.
The proposal aims to ensure residents in new townships can enjoy well-planned and functional recreational spaces without having to wait for future public funding.
