RESIDENTS in Seberang Prai are now keen to buy houses in gated and guarded schemes (GGS) for better security, said Henry Butcher Malaysia senior manager Fook Tone Huat.
He said more developers are now building GGS properties, as there is a growing demand for them.
“House buyers do not mind paying extra for better security in housing schemes,” he said at a press conference held at their Seberang Prai office on Jalan Chain Ferry in Butterworth recently.
Fook predicted a 10% growth in the residential, commercial and industrial property this year.
He urged developers to build affordable homes in Seberang Prai as expensive residential properties will not help to resolve housing problems and demand in the state.
He said there are more stratified residential development in Seberang Prai particularly in Butterworth town, Jalan Raja Uda, Prai, Alma and Bukit Mertajam due to high land prices.
He added the proposed 38-storey Pinang Palma Resort condominiums with resort living concept along Jalan Baru would be the tallest residential building in Seberang Prai when completed.
He said 11,858 transactions worth RM4.09bil were recorded in the property market in Penang in the first half of last year indicating an increase of 9.8% in volume and 37.3% in value against the corresponding period in 2009.
He also said that the opening of Tesco hypermarket at Alma in Bukit Mertajam last December had also pushed up the demand for residential and commercial property in the area.
The land around the hypermarket has also been earmarked for residential development.
He said another piece of development land in Bagan Ajam in Butterworth has been purchased for RM40mil and the developer is expected to start the residential project soon.
SOURCE: The Star
