Image source: Kwong Wah Yit Poh

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.