LUXURY homes will continue to sell in 2012 despite the uncertainty in economy outlook.

SP Setia Bhd general manager (property division – north) Datuk S. Sundarajoo said people would still buy homes although there could be a slowdown as they wanted to make observations before deciding.

“It won’t come to a crunching standstill,” said Kuala Lumpur-born Sundarajoo, who helms the company’s three substantial housing projects in Sungai Ara and Relau.

Sundarajoo said luxury homes would definitely sell given the right pricing, product and timing.

He added that it was also important to sell the right amount of units.

Sundarajoo was speaking to reporters at the official launch of the four-storey Pearl Villas at Setia Pearl Island in Bayan Lepas on Saturday.

The 49-year-old described the five-bedroom villas as “cream of the crop” in luxury homes.

“It’s the last piece of landed property in Setia Pearl Island.

“Built under the ‘Zero Lot Villas’ concept, the freehold villas are the first of their kind in Penang,” he said, adding that he was confident the units would be selling fast.

Priced from RM2.98mil onwards each and with a spacious built-up area of 6,577sq ft onwards, the villas offer exceptional value for money.

“Our terrace units are already selling at around RM400 per sq ft, while the villas are priced at RM456 per sq ft,” he said, commenting that the difference was not much.

He said there was a demand for such homes by buyers who were keen to upgrade their homes.

“There are also many multinational corporations (MNCs) interested due to the proximity to the airport and the Bayan Lepas Free Industrial Zone (FIZ),” Sundarajoo said.

He added that there were only 35 units of the villas with eight already sold and three reserved since the project was opened for sale on Dec 9.

The villas feature a viewing and function deck which can be converted into rooms, home automation as well as a private pool and lift.

The villas are also built and designed according to Singapore?s Construction Quality Assessment System (CONQUAS) certification to ensure that only homes of high quality standards and excellent workmanship are delivered to homeowners.

The expected date of completion is end of 2013.

A promotion is on-going until end of the month which will allow buyers to enjoy savings of about RM400,000.

For more details, call Setia Promenade Sdn Bhd at 04-6422255.

SOURCE: The Star

RETAIL tenants selling unique products at the Straits Quay marina enclave in Penang are doing extremely well.

E & O group hospitality and lifestyle director Michael Saxon said this showed that Penangites appreciated the special offers at the retail marina in Tanjung Tokong.

He added that at least 3,000 people would throng Straits Quay on a weekday and a lot more people during the weekend.

“Many Penangites like to sit in the outlets, have something to drink and eat and look out to the sea.

“They often comment that the place has a romantic feel. They love that Straits Quay is completely different from any other spot in Penang,” he said during the official opening of Straits Quay on Saturday.

Penang Chief Minister Lim Guan Eng, who launched the opening, said that the opening of Straits Quay could help in international benchmarking.

“In true E & O style, Straits Quay is the new landmark in Penang,” he said.

Straits Quay, the first retail marina enclave in Penang, was developed by E & O Berhad.

Later, Lim also launched the Penang Super Car Club at Spasso Restaurant in Straits Quay.

Forty supercars were on display.

The club also presented mock cheques of RM5,000 each to the Penang Fo Yi Haemodialysis Society, the Ramakrishnan Ashrama and Pure Lotus Hospice of Compassion.

Source: The Star

GEORGE TOWN: The Penang Heritage Trust (PHT) is concerned over the approach taken by the Penang Municipal Council (MPPP) to overcome floods in the state’s heritage enclave.

PHT president Khoo Salma Nasution said it lauded the effort by MPPP to mitigate floods but what was of concern, were the methods and approaches adopted.

“We are happy that the (local) authorities have listened to the people’s concerns. However, we have also received numerous complaints from the public over the scope of the implementation,” she said.

Khoo Salma said that in the past few weeks, the PHT had received complaints from ratepayers about damage to private property and shophouses when the historic granite fonts were removed and discarded.

“The excessive use of concrete to fight floodwaters is worrisome,” she said.

PHT council member Rebecca Wilkinson-Duckett said that the use of box culverts had altered the natural drainage ecology in George Town.

The original brick and lime structures were permeable and allowed for underground water to flow into the drains.

“The concrete box culverts prevent such action. The new drains also prevent smooth outflow of water from air wells of shophouses and have hampered PHT’s efforts to get owners to re-open their air wells.”

It was reported that the state government was disappointed that a few heritage-based non-governmental organisations (NGOs) had complained about MPPP’s works to upgrade drainage in the heritage areas.

State Local Government and Traffic Management Committee chairman Chow Kon Yeow said they should not have complained to the National Heritage Department without referring first to the council.

He said that the NGOs had complained that the drains should not be upgraded as they were part of Penang’s heritage.

“We are upgrading the drains because they are old and they cannot hold a heavy volume of water during the rainy season. This has resulted in floods. Flooding is a major concern to all. We are upgrading the drains to address the issue. The NGOs should consider this before lodging complaints,” he said.

SOURCE: The Star

KUALA LUMPUR: Penang MCA has slammed the state government for concentrating too much on mega-projects and losing sight of the need for affordable homes on the island state.

Penang MCA secretary Lau Chiek Tuan said that the construction of low-cost housing had ceased since DAP secretary-general Lim Guan Eng took over as Chief Minister.

He said Lim’s development direction in building “huge highways” and the Penang-Butterworth undersea tunnel would only jack up property prices in the state and leave low-income earners in the lurch.

Lau did not discount the benefits of traffic management through the construction of such mega-projects, but pointed out that motorists would end up paying expensive toll rates and also face soaring housing prices.

He dismissed Lim’s claim that better connectivity would allow islanders to migrate to the mainland, countering that property value in the project’s surrounding areas would skyrocket beyond the affordableprice range.

“Why did the Penang state government take great pains for this project instead of building low-cost housing for the people? After all, the land in Penang is more valuable than money.

“The Penang government has said the main objective of the mega-projects is to solve traffic woes. However, its good is countered by the rising house prices which will result in Penangites being unable to afford homes.

“The state government’s plan to ease traffic woes on the island is merely a ploy to gain votes as they want to tout their so-called ‘achievements’ by announcing large-scale projects. This will make the people feel that the Pakatan Rakyat government is doing something good,” Lau said.

Last month, Lim announced plans to build the 6.5km undersea tunnel to serve as the island’s third link to the mainland.

The Federal Government is currently building the second Penang bridge.

SOURCE: The Star

Setia Tri-Angle is the latest addition to the Setia Peral Island in Sungai Ara, Penang. This new development comprises 35 shop units, 70 SOHO units  and 235 apartment units.

Property Project : Setia Tri-Angle @ Setia Pearl Island
Location : Setia Pearl Island, Sungai Ara, Penang
Property Type : Shop office, SOHO and Apartment
No. of Units: 34 (Shop Office), 72 (SOHO) and 225 (Apartment)
Land Tenure: Freehold
Developer : SP Setia

Location Map :

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Contributed by reader (Update – 28/05/13)

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Contributed by reader (Update – 26/11/13)

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