A newly proposed high-rise residential project adjacent to D’ Starlingtton. Located along Jalan Teluk Kumbar, the site sits about 2km from Penang International Airport. The surrounding neighborhood has seen steady residential growth in recent years, with communities such as Platinum III, D’Zone Condominium, Saujana Heights, Emerald Residence, and Valencia Residence forming part of the area’s evolving urban landscape.

The proposed development will feature a 29-storey block comprising two residential towers, collectively offering 840 units. These towers will rise above a podium that incorporates commercial space, recreational facilities, and multi-level parking. The podium itself is planned to include six levels of car parking, 34 retail units distributed across several floors, and a management office. An adjacent plot has been reserved for future development, which is expected to include a mix of commercial and service apartment components.

Project Name: (to be confirmed)
Location : Teluk Kumbar
Property Type : Serviced residence
Total Units : 840
Built-up Size: (to be confirmed)
Land Tenure : Freehold
Indicative Price :(to be confirmed)
Developer : (Follow us to find out more)

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

Penang’s high-rise residential market has long been a focal point for both investors and homebuyers seeking premium urban and waterfront living. The latest ranking of the 30 most expensive selling high-rise residences is based on the average transacted prices per square foot (psf) recorded in 2024 and 2025. Importantly, the list only includes completed projects with actual transactions, excluding any residences that are still under construction or only marketed by developers. This provides a clearer picture of what buyers are truly paying in today’s market.

Gurney Drive: The Island’s Platinum Mile

Gurney Drive remains Penang’s most expensive stretch for high-rise living, led by Marriott Residences (RM2,069.83 psf) at the top of the list. Just behind it is Sunrise Gurney (RM1,872.07 psf), an established luxury project that continues to achieve exceptional prices in the resale market thanks to its prime frontage and scarcity of new supply along this iconic boulevard. Other premium entries include Gurney Ville and Gurney Paragon, underscoring the area’s lasting appeal among affluent locals and foreign investors alike.

Seafront Prestige in George Town and Seri Tanjung Pinang

Waterfront exclusivity continues to drive prices at the city’s edge. Shorefront Residences (RM1,318.64 psf), located along Lebuh Farquhar at the fringe of George Town’s heritage core, offers panoramic channel views while retaining cultural proximity—an exceptionally rare combination. Further north, Straits Residences (RM1,287.71 psf) and Quayside Condo (RM1,056.14 psf) anchor Seri Tanjung Pinang as a long-standing premium township, where marinas, retail amenities, and an established expat community reinforce its position as a seafront lifestyle hub.

Lifestyle Hubs and Branded Developments

Projects with strong developer branding and integrated lifestyle concepts also command premium pricing. Alila 2 (RM1,238.60 psf) leverages hillside exclusivity, while Setia V Residences (RM1,192.94 psf) appeals with large formats and premium positioning. In the south, Queens Residences Q1 and Q2 highlight the rise of Queens Waterfront as a new urban destination, blending retail, marina facilities, and easy bridge access. These schemes show that branding and master-planning can rival geography in sustaining high values.

The Role of Design and Density

Another factor driving premiums is exclusivity through scale and design. Moulmein Rise (RM1,242.31 psf) and The Cantonment (RM1,191.40 psf) illustrate how boutique, low-density developments in mature urban enclaves can achieve values on par with larger waterfront townships. Buyers here prize privacy, exclusivity, and design-led living as much as location.

Southern Growth and Connectivity

The southern corridor of Penang island is emerging as a competitive hub, with projects appealing to professionals working in the Bayan Lepas Free Industrial Zone. Muze @ Penang International Commercial City (RM875.05 psf) represents a new generation of integrated mixed-use precincts, while Quay West Residence (RM846.15 psf) gains traction through its adjacency to Queensbay Mall and Queens Waterfront, along with direct expressway access to both George Town and the airport. This underlines how connectivity and retail integration are reshaping perceptions of value beyond the island’s traditional prime zones.

Established Names Holding Value

Several established projects continue to perform strongly in resale transactions, reflecting both location and reputation. By The Sea (RM1,092.01 psf) in Batu Ferringhi caters to resort-lifestyle buyers, while Middleton Condo (RM1,034.54 psf) in Minden Heights appeals to families seeking exclusivity near Penang’s education belt. Legacy addresses like 1 Tanjong, Waterside Residence, and even older schemes such as Bellisa Court demonstrate how limited supply in mature neighborhoods helps sustain long-term value.

The data highlights that Penang’s high-rise market remains highly segmented. Timur Laut dominates the upper tier, thanks to its established seafront addresses and branded developments, but Barat Daya is fast catching up through projects tied to Queens Waterfront and the PICC precinct.

– Ken Lim
(Founder, PenangPropertyTalk.com)

Penang has become the first state in Malaysia to launch a community-driven initiative aimed at addressing the long-standing issue of abandoned vehicles in high-rise residential areas. The programme, known as Skim Strata Bebas Kenderaan Usang, was officially rolled out at Flat Turnkey Sri Pinang and jointly officiated by Transport Minister Anthony Loke and Penang’s Local Government Committee chairman Jason H’ng Mooi Lye.

Also present at the launch were Human Resources Minister Steven Sim Chee Keong and Penang Island City Council (MBPP) mayor Datuk A. Rajendran.

Loke praised Penang’s proactive leadership, describing the scheme as a model of collaboration between the state, local councils, the federal ministry, and private stakeholders. “This programme is a shining example of cooperation that should be emulated nationwide,” he said.

He highlighted the multiple problems caused by abandoned vehicles in strata schemes, including the occupation of scarce parking spaces, heightened community tensions, public health risks from mosquito and pest breeding, and potential misuse for criminal activities.

To overcome legal and financial hurdles in vehicle disposal, the Ministry of Transport has introduced the e-Deregistration (e-Dereg) system, which allows owners to deregister and scrap vehicles in a fast, legal, and transparent manner. The process can be completed online in under five minutes, eliminating the need for physical presence at Road Transport Department (JPJ) offices.

Through collaboration with licensed Authorised Automotive Treatment Facilities (AATF), such as Car Medic, scrapped vehicles are handled in an environmentally safe way. Loke commended Penang’s decision to integrate the system into its community-scale programme, calling it a breakthrough in cutting bureaucratic red tape and costs for residents.

As a symbolic gesture of leadership, H’ng announced he would be the first vehicle owner in Penang to deregister and scrap his car under the initiative. “This is our commitment to lead by example and to show that the state government is serious in freeing strata communities from the burden of abandoned vehicles,” he said.

Both Loke and H’ng urged joint management bodies (JMBs), management committees (MCs), and residents to spread awareness and encourage participation. They stressed that the initiative is not merely about clearing unsightly vehicles but about improving safety, public health, and quality of life in high-rise communities.

MBPP, which spearheaded the programme, was also commended for its role in shaping the initiative. H’ng reiterated that Penang remains among the first states to implement an integrated solution to tackle abandoned vehicles effectively.

“This scheme is not a minor matter. It directly affects the image, comfort, and safety of our neighbourhoods,” he said. “With strong collaboration between all parties, I am confident we can create cleaner, safer, and more organised strata housing areas.”

Penang’s pioneering effort is expected to set a precedent for other states to adopt similar solutions, creating a more sustainable and liveable urban environment nationwide.

The sales and service tax (SST) is emerging as a major concern for property developers, with more than 70% planning to raise property prices by 3% to 5% due to higher costs, according to a survey by the Real Estate and Housing Developers’ Association (Rehda) Malaysia.

The survey, which covered 187 developers, showed that 62% expect the SST to significantly increase project costs and disrupt business operations. About 70% anticipate construction costs will rise by at least 3%, prompting 73% of respondents to consider price hikes.

Rehda president Datuk Ho Hon Sang said the association is working with the government to refine SST rules, stressing the need for clearer guidelines for the construction and property sectors. He noted that measures such as avoiding double taxation and offering tax incentives for key materials and eco-friendly products would help ease the burden.

Developers are also calling for input tax credits or faster refunds to improve cash flow, simplified SST rates including tiered options, and enhanced digital systems to facilitate smoother dealings with Customs and relevant authorities.

Highlighting the complexity of the tax, Ho explained that while residential properties are exempt, commercial properties are subject to SST, creating confusion in mixed developments. “Materials are generally exempt, but human labour and machinery rentals — which make up a significant portion of our cost inputs — are taxed. It’s very cumbersome for developers to itemise each component. That’s why we are proposing a simplified approach, such as a flat 3% SST,” he said.

Beyond tax reforms, Rehda is also pushing for the revival of the Home Ownership Campaign (HOC), which previously offered stamp duty exemptions. Ho said past campaigns recorded strong take-up rates and believes a reintroduction could boost market confidence and encourage buying activity.

The Penang government has officially gazetted revised quit rent tax rates for the entire state, marking the first adjustment in more than three decades. The new rates, published in the Penang Government Gazette No. 37 on September 11, will come into effect on January 1, 2026.

Chief Minister Chow Kon Yeow said the revision, approved by the National Land Council in 2024, will apply to nearly 370,000 land titles across Penang. The rates will remain unchanged for at least 10 years, with the next review scheduled only after the current term.

“The last review was conducted in 1994. The state skipped two cycles in 2004 and 2014, which delayed adjustments for 30 years. This long gap has limited revenue growth and made it harder to address arrears and leakages in collection,” Chow explained at a press conference in Komtar.

The revision will not affect the state’s 300,000 strata parcel accounts, where owners will continue paying their existing parcel-based rates. Instead, the adjustment is aimed primarily at industrial and commercial land, which has seen significant returns for landowners over the years.

“For residential and agricultural land, the increase will be modest. For example, the minimum rate for residential land in urban areas will only rise from RM40 to RM50,” Chow noted.

Rebate and Incentive Measures

To cushion the financial impact, the state will introduce a rebate scheme beginning in 2026. Landowners will receive a 32.5% rebate in 2026, followed by 20% rebates in both 2027 and 2028. Chow clarified that landowners must continue paying their 2025 rate if the post-rebate amount falls below the existing charge.

The rebate programme is expected to reduce state revenue by RM80 million to RM100 million annually during the three-year period.

In addition, several incentives will be rolled out in 2026:

• Penalty waiver: Full exemption of penalty charges on quit rent and strata parcel arrears for payments made between January 1 and December 31, 2026, valued at about RM25 million.
• Conversion discount: A 50% reduction in land conversion premiums for agricultural lots converted to residential use, applicable to individual housing and subject to planning guidelines. This aims to support landowners in areas where farming has ceased.
• Digital payment rewards: Attractive prizes and lucky draws for those who pay quit rent and strata parcel taxes through the PG Land mobile application, to encourage online transactions.

Chow said these measures are designed to balance the need for revenue with financial relief for landowners.

“With the revised rates, Penang expects a stronger revenue base, which will enable us to provide more targeted financial support and long-term cost-of-living assistance for the people,” he said.