Popular Swedish home furnishing store Ikea Store will be opening its first outlet in Penang with groundwork expected to commence by end of the year or early next year.

In announcing this, Penang Chief Minister, Lim Guan Eng said the Ikano Pte Ltd, the franchisee for Ikea in Malaysia, Singapore and Thailand, formed a joint venture with local company, Aspen Vision Land Sdn Bhd, to develop the integrated shopping mall in Batu Kawan.

The joint venture company, Aspen-Ikano bought the land from state agency, Penang Development Corporation, for 483.95 million ringgit.

“Aspen-Ikana has bought 245 acres (100 hectares) of land in Batu Kawan at RM483 million to develop an integrated shopping mall and mixed development of offices and residences,” Lim said.

The 245 acres will include 30 acres (12 hectares) for the first Ikea Store in the northern region of Malaysia and the first phase of the shopping mall.

Another 45 acres (18 hectares) is to be set aside for phase two of the shopping mall and 170 acres (69 hectares) for mixed development purposes.

Lim added that the entire commercial and mixed developments on the 245 acres of land are expected to be completed within 10 years from the date of Agreement.

“Notwithstanding that, the IKEA Store is to be developed and completed within the time frame mutually acceptable by both parties.

“The time frame that all parties are targeting at is about 5 years or sooner, depending on various surrounding, economic and demand factors.”

Lim said the state government is confident that the entry of IKEA into Batu Kawan is a vote of confidence for Penang and a boost to making Seberang Perai as the future choice for investments, tourism and habitat for sustainable living.

Source: ABN News

SeventyNine Residence, an upcoming condominium development by Airmas Group located along Jalan Song Ban Kheng, Bukit Mertajam. This project comprises 148 residential units with full facilities, neighboring with some established residential, eateries and schools.

It is less than 10 minutes drive to Penang bridge via Jalan Song Ban Kheng, a mere minutes drive to AEON Seberang Prai City shopping mall as well we AEON Big hypermarket at Bukit Minyak.

Property Project : SeventyNine Residence (79 Residence)
Location : Jalan Song Ban Kheng, Bukit Mertajam
Property Type : Condominium
No. of Blocks : 1
No. of Storey : 16
Total Units : 148
Land Tenure: Freehold
Indicative Price: RM 450,000 onwards
Developer : Airmas Group

Location Map:

Contributed by reader (19/09/2017)

Urban Suites, a mixed development by Aspen Vintage Sdn. Bhd. (Cosmopolitan Homes) in the established township of Jelutong, Penang.   It is easily accessible via Tun Dr Lim Chong Eu Expressway and surrounded by abundance of amenities.

Urban Suites comprises two 42-storey towers, featuring 596 units of commercial suites. Everything about Urban Suites, from its linear shapes, stunning architecture, stylish design and resplendent facilities will captivate its owners and astound the public.

Surrounded by a masterfully imagined designer landscape filled with lush greenery, it is akin to an oasis in the heart of the bustling Jelutong Expressway. Located near the proposed Jelutong East LRT Station, this is one of the cheapest yet strategic commercial suites available in the island.

Property Name: Urban Suites
Location : Jelutong, Penang
Total Land Size: 2.84 acres
Property Type : Commercial suites
Total Units: 596
Built-up Size: 630 sq.ft., 753 sq.ft., 836 sq.ft.
Land Tenure : Freehold
Maintenance Fee: RM0.35 – RM0.45
Indicative Price : RM363,000 onwards
Developer : Aspen Vintage SB. (Cosmopolitan Homes)

Location Map:

BLOCK PLAN

FLOOR PLAN

SITE PROGRESS

SITE PROGRESS: Urban Suites (Jun 2022)

SITE PROGRESS: Urban Suites (Feb 2022)

SITE PROGRESS: Urban Suites (Oct 2021)

SITE PROGRESS: Urban Suites topping up ceremony on 28 Apr

SITE PROGRESS: Urban Suites (March 2021)

Bukit Residence, a gated and guarded residential development by Tambun Indah in Bukit Mertajam, Penang. This gated scheme is strategically located next to the bustling Jalan Song Ban Kheng, in close proximity to schools, eateries and markets.

This project comprises 122 units of 2 & 3-storey terrace houses with price ranging from RM500,000 onwards.

3-storey Terrace

• Standard land area: 1,280 sq.ft.
• Standard built-up area: 20 x 45 ft.
• Total units: 88

2-storey Terrace

• Standard land area: 1,270 sq.ft.
• Standard built-up area: 22′ x 35′, 20′ x 45′
• Total units: 34

Project Name: Bukit Residence (Residensi Bukit Kecil)
Location : Bukit Mertajam, Penang
Land Tenure: Freehold
Indicative Price: RM500,000 onwards
Property Type : 2 & 3-Storey Terrace
Developer : Tambun Indah

Location Map:

Best wishes for a happy and prosperous 2014! We hope you’ve enjoyed keeping yourself updated with Penang’s property development this past year. With your continued support and contribution, PenangPropertyTalk.com has attracted more than 1 million visits from 255 thousands unique visitors in 2013.

While we are excited to see more launches in 2014, let’s look back at the top 5 developments that was posted in 2013 and received the most traffic on this website.

1. Tropicana Bay Residences (~78,000 views)

The phase 1A of Penang WorldCity development by Tropicana Ivory Sdn. Bhd. Strategically located within Bayan Mutiara, a new development hub located in the eastern part of the Tun Dr Lim Chong Eu Expressway and in the vicinity of Sungai Nibong. Comprises four 22-storey residential tower, with condominium unit size ranging from 455 sq.ft onwards.

2. Tree Sparina @ Ideal Vision Park (~30,000 views)

Phase 1 of Ideal Vision Park in by Ideal Property in Bayan Lepas, Penang. This project is strategically located along Jalan Tun Dr. Awang adopting ‘slow-city’ concept that promotes healthy living, environmentally friendly practices, preserving traditional trades and cuisine and, generally, an improved quality of life for residents.

3. Arte S (~23,000 views)

A lifestyle development project by Nusmetro along Jalan Bukit Gambier, Penang. It is located next to Ivory Plaza, comprises two residential towers sitting at the base of Bukit Gambier. Climbing to 49 storey’s, it will be the tallest on the island offering spectacular ocean views from the upper levels of its eastern elevation whilst the Western facade looks onto the jungle covered mountain.

4. The Signature (~21,000 views)

27-storey residential development by Excel Focus Properties in Perai, Penang. This development is strategically located along Jalan Baru within mere minutes drive from Penang bridge. It comprises 148 condominium units with indicative price from RM362,000 onwards.

5. Prominence (~19,000 views)

Mixed development by Bionic Development in Bukit Mertajam, Penang. It is strategically located with easy access to Penang Bridge via Jalan Baru and mere minutes drive to AEON Seberang Prai City mall in Bandar Perda. This development comprises 24 units of 3-storey shop-offices, 19 units of 2-storey shop-lots and 412 condominium units with condo facilities.

Top 3 Developments of All-time

Just in case you are interested to know, here are the top 3 most popular developments of all-time in the history of PenangPropertyTalk.com:

1. One Imperial (~130,000 views)

Strategically located within the establish township of Sungai Ara, Penang. Comprises five blocks of condominium with a total of 768 units. Cheapest unit has an indicative price of slightly below RM400,000 with the size of 1,050 sq. ft.

2. Shineville Park (~116,000 views)

A 40-Storey Skyscraper, consists of 299 exclusive units with typical unit approximately 1,650 sq ft. To live like never before, finely detailed exquisite condominium brings dream into reality which a harmony living place where truly called home.

3. Sierra Residences (~112,000 views)

All-in-one integrated lifestyle development located along Jalan Fettes within the thriving township of Sungai Ara, Penang. A masterplanned community featuring medium and high-end condominiums and a vibrant commercial pocket in a tranquil riverside setting.