About Imperial Grande
A mixed development by Modular Platinum Sdn. Bhd. (Ideal Property Group) in Sungai Ara, Penang. It is located along Jalan Fettes, surrounded by Iconic Skies, Gardens Ville and Imperial Residence. This development will offer a mix of landed and high-rise properties, with 2 level of shop offices located below the residential tower.
Find out more about Imperial Grande
As parcels of land in the once sleepy-hollow of Simpang Ampat on mainland Penang got sold, new housing estates have been developing and the town is now bustling with activity.
The Northern Light Private School is located in Simpang Ampat, while GEMS International School at Pearl City is also within close proximity.
Standing tall in the centre of town is Eco Bloom – the area’s first condominium project which incorporates a commercial element. The units command a green view and extended vistas of the mainland and are suited to all generations of buyers ranging from working professionals, small families to retirees. A dedicated living space with a range of amenities is also featured in this development.
Additionally, the convenience of retail shops and eateries below is also the first for a high-rise property development in Simpang Ampat and for Eco World in the northern region.
A separate and secure entrance is available for residents at the back of this high-rise, offering two and three bedroom units that are planned with optimum space utilisation in mind.
All residents need to be is to step out of their units to a common and secure life-space where a swimming pool, water feature, children’s play area, state-of-the art gymnasium, nursery facilities and a generously spaced reading area are available. A common area for residents also enables group activities ranging from cooking to craft lessons and a venue to host gatherings.
What can be more convenient that a row of commercial lots below which are being snapped up quickly? This is thanks to the generous landscaped area fronting the shops. Tenants to date include a bakery, daycare centre, convenience store and professional service providers.
The project’s outdoor `Bloom Garden’ is a dedicated public space where activities like zumba will be carried out on Sundays. It is also a space dedicated to entertainment and other fun activities.
The benefits of coming home to a well-appointed condominium with top-notch amenities, together with retail and dining conveniences below is what makes Eco Bloom stand above the other developments in the area.
Since the handing over of vacant possession for this project is within the first quarter of this year, now is the time to grab a unit.
Register your interest here
Ideal Residency, formerly known as PR1MA @ Bukit Gelugor, is an affordable housing development by Ideal Capital Venture Sdn. Bhd. (a subsidiary of Ideal Property Group) in Penang Island. This development is strategically located on Kampung Kastam land near the intersection of Jalan Bukit Gambier and Jalan Lembah. It’s only less than 2km away from University Science Malaysia (USM), neighbouring communities include Centrio Avenue, Taman Tun Sardon, Mutiara Court and etc.
The first phase of the development will see the construction of a 49-storey skyscraper, featuring 1,218 affordable housing units with a standard built-up size of 850 sq.ft. The indicative price for the affordable units is expected to starts from RM300,000 onwards.
READ MORE ABOUT AFFORDABLE HOUSING:
Project Name: Ideal Residency (also known as Residensi Bukit Gelugor)
Location : Island Glades, Penang
Property Type : Affordable housing
Built-up Area: 850 sq.ft.
Indicative Price : RM300,000 (Affordable)
Developer : Ideal Capital Venture Sdn. Bhd. (Ideal Property Group)
Register your interest here
Location Map:
SITE PROGRESS
The Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 2.50%.
It said the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.75% and 2.25%, respectively.
“The reduction in the OPR is intended to provide a more accommodative monetary environment to support the projected improvement in economic growth amid price stability. The MPC will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation,” Bank Negara said in a statement Tuesday.
The reduction in the OPR came largely in line with economists’ expectations. This is the second cut so far this year. In January, Bank Negara reduced the OPR by 25 basis points to 2.75% — the lowest since 2011.
The central bank noted that global economic conditions have weakened in the recent period. The ongoing Covid-19 outbreak has disrupted production and travel activity, especially within the region.
This has also led to greater risk aversion, resulting in tighter financial conditions and a resurgence in financial market volatility. Downside risks to the global growth outlook have increased, particularly in the near term. However, a number of countries have implemented policy responses. With further anticipated policy measures, these actions are expected to mitigate the economic impact of Covid-19.
“The Malaysian economy grew at a moderate pace of 4.3% in 2019. Looking ahead, growth, particularly in the first quarter, will be affected by the Covid-19 outbreak primarily in the tourism-related and manufacturing sectors. The weakness in the agriculture sector is also likely to persist in the first quarter.
“For 2020, private and public sector activities will be supportive of growth. Household spending is expected to grow at a slower pace amid moderate employment and income growth. Investment activity is projected to record a modest recovery, underpinned by ongoing and new projects, both in the public and private sectors,” it said.
The 2020 economic stimulus package will also provide some support to economic activity. Although domestic growth is expected to gradually improve in the second half of the year, there are key downside risks, mainly stemming from the evolving nature and prolonged impact of the Covid-19 outbreak, and continued weakness in commodity-related sectors.
Bank Negara said in 2020, headline inflation is expected to average higher but remain modest. The trajectory of headline inflation will be dependent on global oil and commodity price developments and the timing of the lifting of the domestic retail fuel price ceilings.
Underlying inflation is expected to be more moderate, amid limited demand pressures despite the continued expansion in economic activity.
Source: TheStar.com.my
The Penang government is calling all housing developers to work with the state to develop affordable housing projects.
State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state government would continue to lend their support and assist developers who are keen on developing affordable housing projects.
“Our main priority is to ensure that there are affordable housing projects for all Penangites.
“And when we know that we have private sector players like you who want to assist us, we will make sure that we make it feasible, viable and practical for you to come onboard.
“This project is proof of that,” Jagdeep said in his speech at The Park @ Mak Mandin CCC handover ceremony today.
The project was developed by Silver Channel Sdn Bhd.
Jagdeep said that the Penang government also prioritised livability.
“It is not just providing affordable homes. We must also ensure that the homes are livable,” he said.
Jagdeep added that a total of 103,721 housing units have been built, are being built and have been approved to be built in Penang to date.
He said that building affordable housing units was the ‘right direction’.
“I have received complaints from housing developers that the economy is soft and it is difficult to sell homes.
“Let me rebut the complaints here. Follow this direction and build affordable homes. You will not regret it.
“I was made to understand that The Park @ Mak Mandin project is 100% sold,” he said.
Jagdeep said: “If you (housing developers) want to continue building homes that cost RM1 million or RM1.5 million, you build them at your own risk.”
“Whereas, you are be able to sell homes if you build affordable homes. The state will push for this because it is for the people,” he added.
Silver Channel Sdn Bhd chairman Datuk Musa Mustakim said the company was honoured to received the Certificate of Completion and Compliance (CCC) status four months ahead of schedule.
“Thumbs up to the Penang government for its double winning strategy – firstly for relocating squatters to safer and proper homes; and secondly, in allowing future generations to own affordable homes at a strategic location here in Bagan.
“Standing on a 10-acre land, The Park @ Mak Mandin is a low-density affordable housing project.
“The selling price for each unit is only RM247,000 and the home owner gets to enjoy a spacious 1,002sq ft, three-bedroom home.
“There are also facilities such as a half-sized Olympic pool and fiber-optic Internet. The property is also gated and guarded,” he said in his speech.
Also present at the ceremony were Penang Youth and Sports Committee chairman Soon Lip Chee, state Welfare, Caring Society and Environment Committee chairman Phee Boon Poh, Seberang Perai City Council mayor Datuk Rozali Mohamud and Chief Minister of Penang Incorporated (CMI) deputy general manager S. Bharathi.
Source: Buletin Mutiara
