Proposed mixed development by Tetap Gembira Development Sdn. Bhd. at Sungai Nibong, Penang. It is strategically located along Jalan Sultan Azlan Shah, diagonally opposite are SJK(C) Shih Chung, SRJK(C) Kwang Hwa and SMK Sungai Nibong. Just a mere minutes walk to future Sungai Nibong LRT station.

* Find out where is the future Sungai Nibong LRT station *

This development will features a 23-storey building with a mix of 64 units residential and 38 units office suites. There will also be common facilities at level 7.

This project is still pending for approval. Details to be available upon project launch.

Project Name : (to be confirmed)
Location : Sungai Nibong, Penang
Property Type : Mixed development
Total Units: 64 (residential), 38 (office suites)
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Tetap Gembira Development Sdn. Bhd.

Location Map:

If you are looking for a brand new home – be it a condo, house, or holiday villa – you can find a lot of new home sales on property sites such as DDProperty. However, if you’re new to the property market or haven’t bought a new home before, the process can be daunting if you’re used to renting, or even if you have bought older houses in the past. Here is a quick guide to take you through all the steps of choosing, moving into, and maintaining your new home, which should make the process easier and simpler.

1. Choosing a New Home

With so much real estate and new developments listed online, it can be difficult to decide which the right one for you is. You probably won’t have the time to visit and view each home that takes your interest. Instead, shortlist the houses you want to view based on the following criteria:

• Budget
• Location
• Size
• Household amenities (swimming pool, community room, etc.)
• Furnishings
• Local amenities (supermarkets, restaurants, schools, etc.)

By deciding what type of home and neighbourhood you want, procuring listings carefully, and eliminating any that don’t meet what you need, you will shorten your list of properties to view to a reasonable number.

2. Viewing

Contact real estate agents and set up viewings for the homes you have shortlisted in the above step. If the projects are still in development you may be visiting the show homes. In any case, this is the time to have a good long look at your prospective house to shorten your list even further. Many house buyers don’t bother too much with this step and sign off on a mortgage without viewing everything properly or looking around at what is on the market. ThisisMoney estimates that buyers only spend a total of half an hour before settling on a decision of which home to buy. Houses are such a large investment and intended as the place you want to live permanently so it is unwise to spend such a short amount of time on such an important decision.

Don’t be tempted to snap up a competitive property for fear you will miss out on it. Instead, take your time on viewings to look into every nook and cranny of the house, investigate the neighbourhood, talk with local residents, and enquire with the seller. It is best to visit the property you are considering a few times before you commit to signing the papers so that you won’t be regretting your decision a few years down the road.

3. Moving

This is the most stressful part of the house buying process but this stress can be eliminated with careful planning and organization. Make up a list of everything that needs to be done and spread it across the weeks or months you have before moving to ensure that nothing is left to the last minute.

Even if you are moving into a brand new property that hasn’t been used before and which has been inspected fully, it is best to clean it up before moving as a layer of dust might have built up while it was sitting empty. Careless builders might have also left residue behind and failed to clean it up. It is much easier to do this cleaning while the house is still empty, without having to navigate around furniture and boxes.

It is also recommended to have the property inspected, even if this was provided by the real estate agent, to check for any issues which weren’t noticed before. It is rare that they will occur but failure to spot them can be costly.

Finally, ensure that services such as water, electricity, gas, and internet connection have all been set up before your moving day. Start calling these service providers as soon as you know your moving date so that you can ensure you will have them on the day. If you are using your current providers than arrange to have your services transferred to your new address. Keep the names and numbers of all of these companies on hand on your moving day as well in case you have to call them with an emergency.

There are numerous sites online which can offer useful tips on packing up and decluttering for your move. RealSimple has a simplified guide, which boils down to using the right packing materials, packing boxes correctly, and taking extra care with valuable or fragile items. If you really don’t have the time, you can even hire private companies to do the packing for you. Your moving company should be able to help as well and can sometimes provide boxes and packing tape.

One commonly recommended tip is to keep a full inventory of what you are packing in which box and labelling your boxes appropriately. This ensures that nothing is lost, all boxes go to the right place, and it is easy to find essential items such as bedding when you are in your new house.

4. After Moving

If you have followed the above tips about organizing your move correctly, then you shouldn’t have too much trouble in your new home after your move.

Deciding how you want to furnish your new home and where you are going to place your current furniture before you move in will save you a lot of time and hassle. You could even ask for a floor plan to map it out yourself.

Moving into a brand new place may seem like an easier and more stress free option than moving into an older one, but there are still many considerations to be made. The advantage is that your home will be a blank canvas that you can do whatever you want with, which is worth any hassle it may involve. By using the above tips and being organized and careful, you can find and furnish a brand new home which is perfect for you and your family.

The City Residence and The Wave to be main revenue contributors for the group

IVORY Properties Group Bhd is carrying out RM1.8bil worth of projects on Penang island this year.

This includes the first phase of Penang WorldCity (PWC) called Tropicana Bay Residences with a gross development value (GDV) of RM933mil, The Wave (GDV of RM494mil), and The City Residence and City Mall (RM313mil).

Group chief operating officer Goh Chin Heng says The City Residence and City Mall and The Wave will be the main contributors to the group’s 2017 fiscal year’s revenue ending next March 31.

“The City Residence and City Mall is expected to contribute RM40mil, while The Wave RM90mil.

“Both projects have done very well. There are only a handful of units left for both projects,” he adds.

The project has done well because of its appeal to the market of young executives looking for a trendy, cosmopolitan-style home in a prime location that gives easy access to interchanges, public transport system, and essential amenities, according to Goh.

“The City Residence and City Mall is in a location where the undersea tunnel and new highway projects are being planned.

“These plans which are part of the Penang Transport Master Plan has enhanced the appeal of properties developed in the vicinity of Tanjung Tokong and Tanjung Bungah.

“The Wave in Penang Times Square (PTS) is located in a neighbourhood that has been earmarked for the upcoming LRT routes,” he said.

Goh says The City Residence and City Mall will be entered to compete for prestigious overseas and local development awards next year. Priced at RM1,100 per sq ft (psf),

The City Residence and City Mall units have built-up areas ranging between 492 sq ft and 7,882 sq ft.

It is a mixed-use development covering a 2.42-acre prime freehold land in Tanjung Tokong, which is opposite the Island Plaza.

There are 202 condominiums for the residential component, while the commercial segment, City Mall consists of 23 three-storey retail units, with built-up areas ranging between 3,750 sq ft and 14,200 sq ft.

The Wave, comprising 312 service suites and a commercial podium, is priced from RM1.3mil onwards.

The project is located within the RM1.75bil Penang Times Square mixed-development scheme which will have a mall, a cineplex and other lifestyle amenities.

Asia-Pacific awards

The Wave bagged the Asia Pacific Property Awards under the Highly Commended for Best Residential High-Rise Architecture Malaysia category in 2014 for its extraordinary exterior, where elegant sun protection stripes sync rhythmically and aesthetically over the glazed glass façade creating the impression that waves are riding over the building.

Although the property market has softened, there are still buyers who are willing to park their money in properties so long as the capital value of the product has strong growth potential.

“There are many locals with the buying power, but they have become more selective in their choice of properties nowadays.

“Some have adopted the ‘wait and see’ strategy due to the prevailing economic mood,” he says.

According to Goh, the rejection of bank loans from this category of buyers was still low.

“This is one of the reasons why we are launching high-end projects in prime locations.

“Give them an integrated project in a prime location with an innovative concept and investors will not mind parking their money in properties to hedge against inflation,” he says.

Moving ahead, Goh says the group would plan more integrated projects with substantial components in the commercial category like hotel, retail space and shoplots.

“Commercial properties in an integrated scheme that can always be leased out to generate long-term recurring income, especially if the integrated project is in a strategic and prime location, in proximity to well-connected public transportation services and facilities.

“This is why the properties in an integrated scheme tends to sell better,” he says.

The group is now planning to commence work early 2017 on The Central (RM610mil GDV), which is a serviced suite project in Penang Times Square that will have a mall, a hotel and other lifestyle amenities in the fourth phase while the fifth and final phase will consist of a hotel.

On completion, Penang Times Square will have 1.2 million sq ft of commercial space, making it one of the biggest malls in Penang.

Ivory Properties’ Moonlight Bay project in Batu Ferringhi was awarded in March The Niche and Unique excellence award at the inaugural StarProperty.my Awards 2016.

The company was also presented with a “Highly Commended” award for its Ivory Tower under office category at the Asia Pacific Property Awards in Kuala Lumpur last month.

Source: TheStar.com.my

The state government is in no rush to implement the RM27 billion Penang Transport Master Plan (PTMP) as it is a multi-stage project spanning a 15-year period, said local government and traffic management committee chairman Chow Kon Yeow.

He said the implementation of the PTMP will be done in stages and the two priority projects that the state government is looking into is the Light Rail Transit (LRT) line between Komtar and Bayan Lepas, and the first phase of the Pan Island Link (PIL) highway.

“I have said this many times before, the implementation is in stages , we are not rushing to build all systems at one go.

“We don’t have the capacity and the capability to do that,” he said in a press conference during the PTMP briefing at his office today.

Chow together with PTMP project delivery partner SRS Consortium today addressed the nine criticisms listed by non governmental organisations against the massive project.

The NGO had highlighted the issue of sustainability and funding for the project.

Chow said many of the issues highlighted by the NGOs’ had already been addressed.

He however added that the state welcomes feedback from all parties on the implementation of the PTMP.

More details about Bayan Lepas LRT and PIL 1:

Source: TheSundaily.my

Global key cities’ prime residential prices have increased on average by 3.6% over the past 12 months to March 2016, compared with a 3.9% growth in the same period to 1Q2015, according to Knight Frank’s Prime Global Cities Index for 1Q2016.

Knight Frank Residential Research partner Kate Everett-Allen said since 2014, the index has consistently recorded annual growth of 3% to 4%.

The Knight Frank Prime Global Cities Index, established in 2011, monitors and compares the performance of prime sales markets in 35 key global cities. The index is compiled on a quarterly basis using data from Knight Frank’s network of global offices and research teams.

According to the Index, Kuala Lumpur’s prime residential price movement is on a downward trend. Kuala Lumpur, which is one of the key global cities under review, saw prime residential prices dip 1.8% in the 12 months to March 2016.

Meanwhile, eight cities including Kuala Lumpur had seen their prime residential prices drop last year; Hong Kong and Taipei occupy the bottom rankings with luxury prices dipping 6.4% and 7.6%, respectively.

“However, no city has recorded a double-digit annual decline in prices since 2Q2015,” Everett-Allen added.

Overall, Vancouver leads the 1Q2016 Index followed by Shanghai, Sydney and Melbourne making up the top four cities with average price growth ranging between 12% to 26.3% since 1Q2015.

“Vancouver leads the Index for the fourth consecutive quarter as prices accelerated 26% in the 12 months to March 2016,” Everett-Allen said.

She noted that Shanghai, Sydney and Melbourne also recorded double-digit annual price growth, but the gap between the top-tier cities and the remaining cities has widened. Notably, strong price growth in Sydney and Melbourne indicate Australasia as the strongest-performing world region with prices rising 12% on average.

The other key global cities in the Top 10, including Cape Town, Bangkok, Beijing, Singapore, Jakarta and Los Angeles, have seen single-digit growth over 5% for the past 12 months.

Everett-Allen said some 20 global key cities’ residential prices are on the downward trend while 12 cities will continue to grow in the near term.

The Asia Pacific cities on an upward trend include Shanghai, Melbourne, Beijing, Singapore, Guangzhou and Mumbai.

Source: TheEdgeProperty.com.my