by Charles Tan

I was back in Penang just last weekend for a Toastmasters function. I arrived around 12 noon and after the second bridge, there was a slight jam in the Bayan Baru area. It must be the half-day working day on Saturday. My function was in town and I was travelling from my brother’s home in Sungai Ara. Right after Jelutong expressway, everything came to a slow crawl. Jam at 630pm? Perhaps everyone is going to town area for dinner?

During the dinner, I was talking to a close friend who asked me how’s KL’s jam. I told her that based on the place where I stay and the time I travel, I have not really felt the impact of the jams. She said, that’s good because in Penang, she could feel the jams everyday. I told her I felt the same and these days every morning, the radio deejay would talk about jams and one of the places would be Penang’s first bridge. Yet, what I understand was also that the Penang second bridge continue to be under-utilised thus far. Why is this so?

Perhaps whatever is being planned in Batu Kawan can be pushed for a faster completion. Then, some of the huge

population at this part of the island can move over and relieve the two-lane roads off some of the cars which are increasing like crazy while the road networks remain almost the same. There’s the Penang Transport Masterplan but as at now, even the Project Delivery Partner has not yet been chosen. As for the tunnel and all those additional roads etc, it will only be ready in 2025 or so as per what I read in the newspaper and online. Seriously, I am not sure how long can Penang continue to sustain this growth in the number of cars.

If we look at the number of new projects within say Tanjung Tokong or Paya Terubong, some of us may note the daunting number of units which have been proposed, planned and in the process of construction. I can only hope that the state government does more and faster. Yes, moving some of the huge population growth within the island to mainland is really a very important agenda. Of course, based on the jams currently, it is still nowhere near the typical KL jams in LDP or Federal Highway. However, when the gridlock starts, it would be tough trying to ‘unlock’ it. Cheers.

>> This opinion article comes courtesy of my friend, Charles, the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 12 years experience as well as from all the readings and conversations with property gurus in the industry. (Source)

While the recent implementation of the Goods and Services Tax (GST) has made people more cautious about their spending, they are still willing to take the plunge if the right property is available.

This was a common sentiment expressed by exhibitors and visitors at the ongoing Star Property Fair 2015 at G Hotel and Gurney Plaza in Penang.

Eco World Development sales manager Eunice Lee said there was a period immediately after GST where many potential buyers deferred their decision.

“While it prompted some to think twice and study their options in detail, now that things have settled down, people are willing to commit.

“Naturally, pricing is the main concern, especially after the tightening of regulations with regards to obtaining bank loans.

“Location is another key factor, and a good portion of buyers tend to be from within a 10km radius of the particular development,” she said yesterday.

Among those seen browsing the booths for potential investment options were marketing manager Jeffrey Ooi and wife Sueanne Chua, an advertising accounts manager.

“If the product ticks all the boxes, GST or not people will still go for it.

“As an investor, primary considerations are the area, the surrounding facilities and potential rental income,” Ooi opined after checking out the latest phase of MTT Properties and Development’s Botanica.CT township in Balik Pulau.

Valuer Tan See Wei was looking for something mid-ranged, and enquired about Asia Green Group’s The Clovers in Sungai Ara.

“With so many companies in one place, it’s a great time to have a look. Some have nice concepts,” he said.

Retiree S.C. Khor and his wife were interested in affordable options like Ideal Property Group’s One Foresta in Bayan Lepas.

“Like most people, we’re concerned about the price. If it can come down further even better,” Khor quipped.

Meanwhile, the Penang Development Corporation (PDC) booth is exhibiting some 1,921 affordable properties from the state government.

PDC sales and marketing executive Siti Zabedah said the the projects are located in Batu Kawan in south Seberang Prai, Kampung Jawa in north Seberang Prai, and Teluk Kumbar in the southwest district.

“The low-medium cost units for the three locations are priced at RM72,500.

“The other units are priced from RM168,000 to RM220,000 in Batu Kawan, RM200,000 to RM250,000 in Kampung Jawa and RM250,000 to RM330,000 in Teluk Kumbar,” she said.

Siti said the registration for the properties had been slow.

“Although the booth promotes the affordable projects from PDC, buyers can still register for any of the 22,512 affordable units that the private sector and state government are building,” Siti said.

Source: TheStar.com.my

Triuni Residences, the third phase of The Sanctuary development comprises three residential towers, with a total of 552 condominium units. It is strategically located within the established township of Batu Uban, next to The Sanctuary (Phase 1). Just a mere minutes drive from University Science Malaysia and Penang bridge.

• Block 1: 22-storey (176 units) with 3-level multi-storey car park
• Block 2: 24-storey (192 units) with 3-level multi-storey car park
• Block 3: 23-storey (184 units) with 5-level multi-storey car park

Project Name : Triuni Residences
Location : Batu Uban, Penang
Property Type : Residential Development
Land Tenure: Freehold
Total Units : 552
Indicative Price: Gross from RM700psf onwards
Developer : B.U. Developments Sdn Bhd ( Runnymede Group)

Location Map:

SITE PROGRESS

SITE PROGRESS: Triuni Residences (March 2020)

SITE PROGRESS: Triuni Residences (Dec 2019)

Forest Ville, a twin towers freehold project by Ideal Property Group in Bayan Lepas, Penang. Located on an 11-acre land, the two towers were part of One Foresta affordable housing scheme located along Lengkok Kelicap.  Schools, financial institutions and healthcare facilities are only short drive away.

This development scheme comprises 991 condominium units with size ranging from 1,000 sq.ft. to 1,050 sq.ft. Indicative price starts from RM450,000 onwards. Facilities will include a treehouse, viewing deck, camping area, barbecue pit, jogging track, function hall, gymnasium, kids’ play and games rooms, lap pool, family pool, Jacuzzi, playground and gym.

Property Project: Forest Ville
Location : Bayan Lepas, Penang
Property Type : Condominium
Land Tenure : Freehold
Built-up Area: 1,000 sq. ft. & 1,050 onwards
Indicative Price : RM450,000 onwards
Developer : Ideal Property Group

SITE PROGRESS

SITE PROGRESS: Forest Ville (Jan 2020)

The grandest showcase of stylish living — Star Property Fair 2015 — opens at G Hotel and Gurney Plaza in Penang today, offering home hunters and investors varied options both locally and abroad.

The event runs until Sunday and opens from 10am to 10pm daily. Visitors can expect to find attractive packages and bargains alongside informative property-related talks, fun activities and contests with great prizes.

Now in its 14th edition, the fair brings together over 40 major developers and real estate agencies, offering a vast range of products from landed to high-rise residences, retail and office spaces, integrated developments, affordable homes and investment schemes.

First-time home buyers, upgraders or investors looking for sound options will have a vast choice of properties — each offering unique lifestyle concepts and living environments — to consider.

Eco World Development Group will once again be the biggest exhibitor, alongside BSG Property, IJM Land, Asia Green Construction, Iconic Development, Ivory Properties Group, Mah Sing Group and Tropicana Corporation.

Other big names include Berjaya Land Development, MTT Properties and Development, Tambun Indah Land Bhd, Lone Pine Group of Companies, Nusmetro City, Runnymede Group of Companies, Ideal Property Group and Bandar Utama Development.

Joining them are PJ Midtown, KL Metro Group, Seni Bahagia, Australia Property and Development, Trimension Properties Group, Aroma Development, Property Talk, Gambier Sanctuaries, Dennis Wee Realty, First Lead Investments Consultant, Chester Properties and Vona Parkcity.

Also showcasing their projects are Putra Nilai Development, Protasco Land, Absolute Living Developments, Zhuoyuan Iskandar, Plenitude Bayu, OSK Properties, Farlim Group (Malaysia), Atlantic Blue (Solarvest), Penang Development Corporation and Zeon Properties.

Rounding up the list are Golden Ago Plantation (Mukah), GIC Great Investor Club, Sime Darby Auto Hyundai, Afcar Auto, Rockwills and Public Bank.

The eagerly anticipated talks and forums are also on, touching on topics ranging fromfeng shui to investment strategies, bank loans, affordable housing and property tax, all conducted by experts in their respective fields.

Around 20 sessions are scheduled from 11.30am to 6.30pm at G Hotel throughout the fair, and sponsored by Hong Leong Bank.

Attendees will be able to glean useful information and insights on various property matters.

Spicing things up is the Spin & Win contest offering more than RM100,000 worth of prizes, with highlights being Samsung Galaxy A3 smartphones, Samsung Tab 3V and Asus Fonepad 7 tablets, as well as Parkson gift vouchers.

There are also Philips DVD players, Blu-Ray players, Swatch and Columbia watches, Coach lanyards, Swarovski pens and jewellery boxes, Crabtree and Evelyn Hand Therapy gift sets, cordless phones, steam irons, power banks, hampers, Sanctband Active Ex-Band and Loop Band, wallets, luggage tags, key chains and shower gels to be won.

To take part, simply purchase a copy of The Star, cut out the contest coupon, fill in your personal particulars, answer a simple question correctly and redeem it for a spin on the wheel.

A booth will also be available for those who wish to subscribe to The Star’s newspaper and ePaper bundle. Specially for Hari Raya, a one-year new subscription is now only RM300, instead of the usual RM360.

Renewal for one or two years remain the same at RM260 and RM520 respectively. New subscribers are entitled to eight spins in the contest, while those who make one and two-year renewals get five and 10 spins respectively.

All subscriptions come with two complimentary passes to Break The Code real room escape located on Gurney Plaza’s 4th floor, worth RM70. Admission to the fair is free.

Source: TheStar.com.my