Water-themed parks and pockets of lush greenery create a soothing living environment for residents at Penang World City.

The rise of new developments will transform the landscape of the Pearl of the Orient even more dramatically in the years to come.

Penang has become one of the most sought-after areas for residential developments in recent years, thanks to the constantly improving transportation links, political stability, booming manufacturing sectors and the growing appreciation of land. With the latter commodity becoming increasingly scarce, it is amazing to think that an entire metropolis, is set to rise majestically from the island’s south-eastern coast, in the coming years.

Penang WorldCity, a mixed integrated waterfront development spanning 103 acres (42 ha), is poised to transform the area’s skyline. When complete, it will be a modern, mini-international city where residents can enjoy refined lifestyles.

This joint venture project by renowned Penang developer Ivory Properties Group Bhd and Tropicana Corporation Bhd (noted for its successful resort developments in Kuala Lumpur and waterfront developments in Johor) will be developed in phases over the next 10 years. The development will comprise approximately 9,000 units of exclusive lifestyle residences, the majority of which are sized below 1,500 sq ft to cater to homeowners of all income levels.

Water-themed parks and pockets of lush greenery create a soothing living environment for residents while various leisure and recreational amenities like the Performing Arts Centre and Wellness area will enrich residents’ lives.

The planned 1.5mil sq ft development comprising high-end retail outlets, international hotel, grade A offices, a convention centre, an international school and al fresco dining outlets will make it a hub for tourism and commerce.

Indeed, it will be branded as “The Destination” to live, do business and visit in Penang.

This will be a thriving, recreational and commercial centre, where all the action is neatly tucked between the Penang Bridge and the newly opened, Second Penang Bridge, the enclave is a mere 10-minute drive to the Penang International airport.

Various shopping, financial, educational, and healthcare amenities in George Town are just a 20 minutes’ drive away via the Tun Dr. Lim Chong Eu expressway, while the ferry services also provide an alternative means of connection to the mainland. Located even closer, are the Bayan Lepas Free Trade Zone, Queensbay Mall, Pantai Hospital as well as banks, schools and Food and Beverage (F&B) hubs.

Tropicana Bay Residences

The first phase of Penang WorldCity will be Tropicana Bay Residences comprising six blocks of 22-storey condominium towers housing units sized from 455 sq ft to 1,950 sq ft. These are available in eight distinctive layouts.

An impressive drop-off point greets residents and guests alike. Inside, one will find the best of resort style living, with amenities like an overhanging pool, tennis court, saunas and a gymnasium. Conceptualised by an international architect, the development is designed to foster healthy, outdoor living as well as, closer bonds between family and friends.

To date, Tropicana Bay Residences has received a highly positive response since its initial soft launch, with 90% of units of the first four blocks sold thus far.

Block E is now open for registration, with units sized from 872 sq ft to 980 sq ft. The average current selling prices vary from RM769,900 to RM935,900, with an average selling price of RM800 per sq ft.

The Wave

Certain buildings generate a buzz amongst those in the know, even before the construction work has begun. The Wave at Penang Times Square is definitely one such development. The project blueprint features an extraordinary facade of wave-like contours, rhythmically corrugated around each floor of the unique structure. This aesthetically pleasing form is also functional, as it provides protection from the glaring sun. and, at different angles and during various times of day, the reflection of light gives these wavy panels a spectrum of different shades, creating an illusion of the amazing sea and its magnificent corals.

The top component comprises 312 suites occupying 27 floors, which sits on an 11-storey podium comprising car parks, a facilities floor and a commercial retail component.

Units are available in four layouts namely, the corner suites (Type A – 1,250 to 1,290 sq ft), intermediate suites (Type B – 1,300 to 1,345sq ft), penthouse suites (Type C – 2,820 to 2,905 sq ft) and duplex suites (Type D – 2,580 sq ft). The varied layouts enhance the feeling that each unit is a limited edition masterpiece. Types A and B units feature three rooms and two washrooms, while Type C has five rooms and five washrooms. Type D, meanwhile, comes with four rooms and five washrooms.

Its equally impressive facilities include an outdoor Jacuzzi, wading pool, swimming pool, changing room, sauna room, children’s playground, barbeque pit with wash area, landscaped garden, multi-purpose hall, gymnasium room, exercise station and foot reflexology path.

The Peak Residences and The Latitude commercial units

With a limited number of bespoke shop lots, the commercial component of The Peak Residences and The Latitude in Mount Erskine, Tanjung Tokong raises the bar as it is an ideal place for F&B businesses. Serving over 1,500 residential units within the vicinity, these shop lots are a great investment choice as they offer potential for capital appreciation.

For more information, on Penang WorldCity, call 04-6596888, visit the Sales Gallery at Persiaran Bayan Indah in Bayan Lepas, Penang (nearby Queensbay Mall), or log on towww.penangworldcity.com.

For details on other projects, visit Ivory’s new sales gallery in Ivory Tower @ Penang Times Square, located at 81-11-1 Jalan Datuk Keramat from 11am to 6pm daily except Sundays. Otherwise, contact the marketing personnel at 04-2108000 or email to: marketing@ivory.com.my / contact@ivory.com.my

Source: StarProperty.my

Important agreement: Murly (second left) exchanging documents with Zaini after the signing ceremony between MBSB and Aspen Group. With them are Nazir (left) and Abdul Halim.

Aspen Group Holdings Sdn Bhd’s RM400mil Tri Pinnacle project will be the first affordable housing scheme on Penang island with a high quality ambience.

Its chief executive officer Datuk Manokharan Murly said the project, located on a 4ha site in Mount Erskine in Tanjung Tokong, was open to first-time house buyers registered with the state government.

It will be launched in the fourth quarter of 2014.

Tri Pinnacle will have 390 units of 650sq ft low medium-cost (LMC) apartments priced at RM72,500 and 859 units of 800sq ft affordable condominiums priced at RM299,000.

Also present were MBSB President and chief executive officer Datuk Zaini Othman, MBSB chairman Tan Sri Abdul Halim Ali and Aspen Group chairman Datuk Seri Nazir Ariff.

Murly added that the state government would expedite the approval process of genuine applicants to buy the condominiums.

The MBSB loan facility will be used to defray the cost of the freehold site for the Tri Pinnacle project, according to Murly.

“We are here to dispel the common negative perception associated with LMC and medium cost (MC) developments which usually suffer from shoddy architectural design and quality, lack of facilities and security,” said Murly.

“Tri Pinnacle will stand out as an attractive spot to work and live.

“Landscaping, designed with vertical gardens, plays a prominent part in the scheme.

“It will create a natural buffer between the adjoining roads and car park podiums, and mitigate the heat effect,” he said.

Murly said the project would be designed with a 24-hour two-tier security access system.

There will be an elevated garden, a swimming pool, a basketball court, gymnasium, BBQ pits and children’s playground.

Meanwhile, Zaini said the collaboration enabled the company to be part of a vibrant project that would contribute to Penang’s property development sector.

“Other than providing financing facilities to Aspen Group, we will also extend an attractive financing package to its home buyers.

“MBSB is managing several property development projects on the island through contract financing, bridging projects as well as structured financing initiatives,” he said.

Source: StarProperty.my

The Amarene, the next phase of Ideal Vision Park by Ideal Homes in Bayan Lepas, Penang. This development is strategically located near learning institutions including the proposed new schools: Chung San Primary School and Heng Ee Primary and Secondary Schools as well as the Straits International School.

More details to be available upon launching.

Property Project : The Amarene
Location : Ideal Vision Park, Bayan Lepas, Penang
Property Type : Mixed Development
Total Units: 410 (condo), 72 (shop office)
No. of Storey: 23
Land Tenure : Freehold
Developer : Ideal Property

Venti, being part of the development known as Skycube Residence in Sungai Ara, Penang. It comprises 20 units of 3-storey semi-detached houses with typical built-up area of 2,952 sq.ft.. Enjoying swift access to Skycube Residence ‘s resort facilities which includes:

• Beach-inspired Swimming Pool
• Children’s Waterpark Pool
• Sun-rich Decking Area
• Waterfront Gym
• Designer Landscaped Playground
• BBQ Area
• Reflexology Paths
• Scenic Jogging Trails
• Fun Kids Zone
• Expansive Open Spaces

An artist's impression of the sky lounge and bar of the Beacon project in Sungai Pinang.

ASPEN Group Holdings Sdn Bhd plans to launch RM2.1bil worth of residential and commercial properties in Penang later this year and next year.

The projects are the RM780mil first phase of Aspen Vision City in Batu Kawan, the RM400mil Tri Pinnacle in Tanjung Tokong, the RM700mil HH Residence in Tanjung Bungah and the RM226mil Beacon in Sungai Pinang.

Aspen Group chief executive officer Datuk M. Murly said that of the RM2.1bil, about RM1.3bil would comprise affordable and high-end residential property.

‘They will be sold at sub-sale prices which are usually 20% to 30% lower than the pricing in the primary market.

“We believe that sub-sale prices are a more accurate reflection of the market trend.

“For example, the Tri Pinnacle affordable condominiums are priced at about RM375 per sq ft.

“The Beacon high-end residential executive suites are priced at about RM700 per sq ft.

“Current new high-end residential property of the same range and in strategic locations are selling for around RM1,000 per sq ft,” Murly said.

He said the Tri Pinnacle project comprised 1,249 low medium-cost apartments while the Beacon would offer 258 residential executive suites.

He said Tri Pinnacle would be launched in the last quarter of this year and Beacon in the first quarter of next year.

“Both projects are equipped with comprehensive recreational facilities.

“The Beacon, for example, is designed with a sky lounge, sky bar, sky pool, and sky garden on the 37th floor,” Murly said.

He said the prices for HH Residence had yet to be fixed.

“Although the property market has softened in the past 12 months due to the tightening of credit, we are optimistic that our competitive pricing will stir interest among house buyers,” he added.

Murly said the Aspen Vision City project would be built on a 99.1ha plot next to the second bridge.

He said the first phase, to be developed over five years on 14.1ha, would have about 500 retail and shop office units.

“The value of the first phase will be enhanced by the Ikea shopping mall that we are building next to it.

“We will subsequently carry out the remaining phases comprising hotels, serviced apartments, homes and a mini central banking district over a 10-year period.

“Our strategy for Aspen Vision City is to build the commercial property first.

“There will be workers who want to stay near their place of employment.

“This will create the need for residential property which are attractive in pricing.

“The objective is to develop Batu Kawan in such a manner that it mirrors the vibrancy of the island,” Murly said.

He said that Aspen’s objective was to provide more affordable housing and mixed development projects.

“This will allow for public and private land owners to create a sustainable business model that not only maximises the full potential of the development but also meets the community’s cultural, communal and income level needs and adheres to the requirements of local councils.

“Since our inception in 2013, Aspen Group has believed that success comes from a relentless focus on innovation, creativity and execution.

“This concept and vision is not only vital to our property development but also to our efforts to create ecologically-balanced communities.

“We are committed to providing the people homes of unmatched quality at affordable prices,” Murly said.

Souce: StarProperty.my