THE LIGHT WATERFRONT | Penang | U/C [Archive]

pen

November 28th, 2007, 07:48 AM

RM6.5b waterfront city in Penang

Wednesday November 28, 2007
The Star
By CHRISTINA CHIN

DRIVING along the Jalan Udini coastal highway towards Bayan Lepas in Penang, one cannot miss the massive sea reclamation near the Penang Bridge.

Over the last six months, sand has been dumped on the seafront at a feverish pace, creating a new land bank now covering several hectares.

For those wondering what development is about to take shape, the site has been earmarked for a RM6.5bil waterfront city to be completed in 10 years.

Come 2017, visitors to the island will be greeted by the sight of a new coastal township framed by iconic landmarks like the Penang Bridge and Komtar tower.

Attractions include a seafront park, floating restaurant, waterfront amphitheatre, water theme park, international convention centre, hotels and shopping mall. There will also be waterfront homes with private jetties and high-end condominiums for those who can afford them.

The ambitious mixed residential and commercial development project, called The Light, will be developed by Jelutong Development Sdn Bhd (JDSB), a subsidiary of IJM Properties Sdn Bhd.

With construction scheduled to start in late 2008, the 61.5ha reclaimed land project is set to transform the island’s eastern coastline into a breathtaking tourist attrac-tion.

According to IJM Corp Bhd chief executive officer and managing director Datuk Krishnan Tan, The Light is the “ultimate challenge” for the company under the Jelutong Expressway (JE) privatisation pro-ject.

“We took on a challenge in 1997 to build the JE and despite the physical and technical challenges of implementing the project in the face of the Asian financial crisis, we delivered.

“Now, the JE’s success as a privatisation project will be entirely driven by The Light which will also have a major impact on the state’s development.

“An integrated waterfront living concept, The Light is a dynamic township which incorporates residential, entertainment, business, education and commercial com-ponents,” Tan said, adding that his company was currently conducting reclamation works.

“Under Phase One, six parcels of high-end residences will be developed over 17ha comprising 1,186 units. We expect completion in three to five years.

“Phase Two will see a commercial and retail centre being developed over 41.68ha of land.

“It will comprise twin gateway office towers, family resort, boutique and spa and business hotels; banquet and conference, dining and entertainment facilities; cultural hall, visitor centre and waterfront amphitheatre.

“There will also be family, IT, fashion and activity malls with attractions like galleries, entrepreneurial incubators, recreational park, gourmet dining, floating restaurant, water taxi, water theme park, miniature golf, skating ring and rock climbing course,” said Tan, adding that Phase Three would be developed into a 2.8ha seafront park.

The project was announced by Chief Minister Tan Sri Dr Koh Tsu Koon at e-Gate last Friday. Also present at the launching ceremony were IJM Properties Sdn Bhd managing director Teh Kean Ming and JDSB director Datuk Syed Mohamad Aidid.

http://i237.photobucket.com/albums/ff227/jeff1983/light.jpg
The Light at night: An artist's impression of the mixed residential and commercial development project

http://i237.photobucket.com/albums/ff227/jeff1983/light2.jpg
Reclamation works: The reclamation works being conducted at the site near the Penang Bridge.

http://i237.photobucket.com/albums/ff227/jeff1983/light3.jpg
Future landmark: Visitors viewing a model of the Light project.

proud_penangite

November 28th, 2007, 08:57 AM

wahh ada themepark ka? huhu
cool giler! when it will be fully completed? i hope not for 15 years of time like PGCC.
i like this project more than PGCC now haha!

cooltemper

November 28th, 2007, 10:53 AM

Ya me too. This project is by the sea. so is good for people like me who stay in Butterworth, cause i got beautiful view ma... haha...

pull+bear

November 29th, 2007, 02:13 PM

this project is totally hot just like me haha!
just kidding. im eager for that fashion mall! i don't want lame brands like pdi, body glove wat so ever. i want a designer boutique fashion mall. i want it to be like siam paragon or pavilion kl..here some pics :)

Hot Properties!
http://img153.imageshack.us/img153/4790/10991560fd3.jpg
Kinda Singapor-ish haha
http://img153.imageshack.us/img153/7406/95007846ye5.png
I wanna buy this villa!
http://img255.imageshack.us/img255/5415/32784931wj4.png
This is so cool!
http://img514.imageshack.us/img514/798/78015022fl3.jpg
Fashion Mall? i guess so..
http://img267.imageshack.us/img267/2908/81114706uk4.png

Arkdriver

November 29th, 2007, 06:57 PM

i wanna be excited but the 2 towers will be build under "future development" which means it have the chance to be scrapped. Anyway i like the mall design. IJM is good developer. Unlike Abad Naluri (equine associated company) which is "building" PGCC they have no reputation at all. And Equine Park in Seri Kembangan is a mediocre township with no class whatsoever

proud_penangite

November 29th, 2007, 07:01 PM

yeah now im in love with this project
screw pgcc. taknak buat sudah....

taro_80

November 30th, 2007, 03:58 AM

yeah now im in love with this project
screw pgcc. taknak buat sudah....

ada baru tak nak lama:lol::bash:

MALAYSIAN

November 30th, 2007, 08:15 AM

why all the project take a long tome like 15-20 years to completed? This just wasting all of our time! This also make me sad:ohno:

taro_80

November 30th, 2007, 10:10 AM

^^
malaysia use to be like tat...

rizalhakim

November 30th, 2007, 10:19 AM

not enuf budget lah.....we r not like dubai developers.....cool down huhu.....

WhyS

November 30th, 2007, 02:55 PM

Komtar also use to be have few "phase" ; but until now still haven't complete yet , just imagine yourself :lol: IJM definely can deliver better in term of efficiency and quality , taka a look at Jelutong expressway and eco-system along the highway , really huge contribution for Penang island ! Let's hope they will take over PORR oso which is keep dragging many years ago ( no choice lar , who else ? :ohno: ) , otherwise traffic nightmare shall be endless issue ... untill all penangnites use bycle to replace motorcar :nuts:

built_in_me

December 7th, 2007, 08:14 PM

bukan mereka tak nak buat PGCC....some NGO and public buat hal...they are over-reacting....

patchay

December 8th, 2007, 04:58 AM

I think what is important is THE DEMAND for those properties. Developers usually sell properties Phase by Phase... if alot of demand then can accelerate the timeline, but if not, or usually, developer need to stretch to 10 years of demand.

built_in_me

December 11th, 2007, 07:59 PM

guys.....can u people stop comparing PENANG with singapore and stop drooling over singapore...PENANG is a state not a country...PENANG is unique in it's on way...don't be a loser who drools over singapore...PENANG is more unique than any other places...it's only the government whose ruining the progression of the state...i'm fed up with u people who talk bout s'pore all the time...

taro_80

December 12th, 2007, 03:06 AM

^^ who keep toking SG all the time huh?? dun angry oo....i rather to compare with HK...hahahahaha

rizalhakim

December 19th, 2007, 06:05 AM

IJM Prop unveils RM6.5b Penang waterfront project -The Light Waterfront Penang will be built on part of the 137 hectares of reclaimed land along Penang’s eastern coastline

23 Nov 2007

IJM Properties Sdn Bhd is set to transform Penang into a world class economic and residential hub with the unveiling of its project, The Light Waterfront Penang.

IJM Corp Bhd chief executive officer/managing director Datuk Krishnan Tan said the RM6.5 billion mixed residential and commercial development is the island’s first integrated waterfront city and would be built on part of the 137 hectares of reclaimed land along Penang’s eastern coastline.

“The Light will feature 62ha of breathtaking development on the reclaimed land and will be developed in three phases,” he said at ceremony to unveil the project in Penang today.

Under phase one, covering 17ha, six parcels of high-end waterfront residences, comprising 1,186 units, would be developed.

“The development is expected to be completed in three to five years,” he said.

Tan said under phase two, a commercial and retail city, comprising Gateway Towers, hotels, signature offices, showrooms, banquet and conference facilities, cultural hall, visitor centre and waterfront amphitheatre would be developed on 41.7ha.

“One unique feature of the city is the floating stage and a floating restaurant. The entire city will also be interconnected by water taxis,” he said.

He said The Light would also feature three ha of seafront park under phase three of the development.

Tan said the project, which will developed by IJM Properties Sdn Bhd’s subsidiary, Jelutong Development Sdn Bhd, is expected to be completed in 2017.

“Land reclamation is in progress and construction will start by the end of next year,” he said. — Bernama

rizalhakim

December 19th, 2007, 06:07 AM

RM6.5b waterfront city in Penang

28 Nov 2007

The Light at night:An artist's impression of the mixed residential and commercial development.DRIVING along the Jalan Udini coastal highway towards Bayan Lepas in Penang, one cannot miss the massive sea reclamation near the Penang Bridge.

Over the last six months, sand has been dumped on the seafront at a feverish pace, creating a new land bank now covering several hectares.

For those wondering what development is about to take shape, the site has been earmarked for a RM6.5bil waterfront city to be completed in 10 years.

Come 2017, visitors to the island will be greeted by the sight of a new coastal township framed by iconic landmarks like the Penang Bridge and Komtar tower.

Attractions include a seafront park, floating restaurant, waterfront amphitheatre, water theme park, international convention centre, hotels and shopping mall. There will also be waterfront homes with private jetties and high-end condominiums for those who can afford them.

The ambitious mixed residential and commercial development project, called The Light, will be developed by Jelutong Development Sdn Bhd (JDSB), a subsidiary of IJM Properties Sdn Bhd.

With construction scheduled to start in late 2008, the 61.5ha reclaimed land project is set to transform the island’s eastern coastline into a breathtaking tourist attraction.

According to IJM Corp Bhd chief executive officer and managing director Datuk Krishnan Tan, The Light is the “ultimate challenge” for the company under the Jelutong Expressway (JE) privatisation project.

“We took on a challenge in 1997 to build the JE and despite the physical and technical challenges of implementing the project in the face of the Asian financial crisis, we delivered.

“Now, the JE’s success as a privatisation project will be entirely driven by The Light which will also have a major impact on the state’s development.

An integrated waterfront living concept, The Light is a dynamic township which incorporates residential, entertainment, business, education and commercial com-ponents,” Tan said, adding that his company was currently conducting reclamation works.

“Under Phase One, six parcels of high-end residences will be developed over 17ha comprising 1,186 units. We expect completion in three to five years.

“Phase Two will see a commercial and retail centre being developed over 41.68ha of land.

“It will comprise twin gateway office towers, family resort, boutique and spa and business hotels; banquet and conference, dining and entertainment facilities; cultural hall, visitor centre and waterfront amphitheatre.

“There will also be family, IT, fashion and activity malls with attractions like galleries, entrepreneurial incubators, recreational park, gourmet dining, floating restaurant, water taxi, water theme park, miniature golf, skating ring and rock climbing course,” said Tan, adding that Phase Three would be developed into a 2.8ha seafront park.

The project was announced by Chief Minister Tan Sri Dr Koh Tsu Koon at e-Gate last Friday. Also present at the launching ceremony were IJM Properties Sdn Bhd managing director Teh Kean Ming and JDSB director Datuk Syed Mohamad Aidid.

AhChuan

December 19th, 2007, 09:09 AM

:eek2: :eek2:...speakless....

totally a great project for penang...

patchay

December 19th, 2007, 09:15 AM

i wanna be excited but the 2 towers will be build under "future development" which means it have the chance to be scrapped.

nope. the two iconic towers -office and business hotel- are for Phase II rather than Phase IV. Good to see the Phase II map again. Phase II is where the retail etc components are. According to sources, Phase IV might be more iconic than these.

[B][SIZE="4"]
http://img80.imageshack.us/img80/9863/55802192xq2.jpg
http://img215.imageshack.us/img215/3967/82672073xi4.jpg

glenj

December 20th, 2007, 05:42 PM

Interesting...

When I 1st saw the name, i was wondering what was in that name.. could it be:
1. light = ringan - no way, since this ain't no small project.
2. light = lampu, to light the way - nah, doesn't fit the bill
3. named after Francis Light (the so called founder of Penang) - obviously, duh

Perhaps, just like Raffles (named after Stamford Raffles - founder of S'pore) is such a household name for places and institutions in S'pore, the Light name is comparatively unexploited in Penang - i only know of Francis Light Pri School (my alma mater...). And oh, I believe a Light Street too. There used to be a Light Street Convent if i'm not wrong. Anyway... so much for Light.. and now, The Light. At one time, colonial names were on their way out (remember Western Rd --> Jln Utama, Northam Rd --> Jln Sultan (Something), Province Wellesley --> Seberang Perai, Telok Anson --> Telok Intan.. etc etc), but looks like they're making a comeback.. go for it Georgetown! :)

proud_penangite

December 20th, 2007, 07:52 PM

hey thats my school haha
i miss SK Francis Light!

built_in_me

January 2nd, 2008, 07:24 AM

haha not angryla....just too fed up..it's so stereotypical everyone use s'pore to compare...not wrong to compare but always s'pore...isssshhh.............if given a chance between s'pore or penang...i would choose penang anytime...

rizalhakim

January 8th, 2008, 06:56 AM

The Light Waterfront : An International Waterfront Icon

Around the world, waterfront resort living has become the hotly pursued lifestyle to have among the elite, the well-heeled and high networth set.

Residential status in any of these iconic waterfront resort developments means owning the key to a host of elegant pursuits, exhilarating activities, culinary and entertainment attractions and enjoying a level of service that can only be envied.

From London's Canary Wharf, Melbourne's Docklands, Sydney's The Rock to Toronto's Queens Quay, the lure of resort-style waterfront urban playgrounds seem set to proliferate across the globe.

http://bp1.blogger.com/_jnitJsnrRX4/R00TzBrmNTI/AAAAAAAAA7Y/-hGrOolCYOY/s1600/aa.jpg

Each waterfront paradise is designed to delight discerning palates, with upmarket exclusivity, often combining cutting-edge design with heady fashionable, culinary and indulgent pleasures all in one lifestyle hub, right on one's doorstep.

The Light Waterfront Penang now join the league of international waterfront resort-living icons.

The Light Waterfront designed as Penang's first integrated leisure, retail, entertainment and cultural destination within an upmarket and luxurious waterfront living enclave, The Light creates a totally new experience for Penang visitors and its residents.

This site will have a commercial district with dining promenades, different malls for family, fun, IT savvy and upmarket fashion-conscious types, four hotels ranging from family to resort, boutique / spa and business high-rise, a floating cultural theatre and convention centre.

This project represents one of the highest proportions of leisure-based services anywhere in South East Asia.

As a day-out experience for families, a hip hangout for young techo-savvy or a new Penang discovery for local, regional and international visitors, THE LIGHT will celebrate the spirit of Penang's uniqueness, relaxed serendipity and exotic heritage.

But most of all, it will offer an iconic landmark to distinguish Penang as a world class destination with a waterfront living resort and lifestyle hub of the highest international standard.

The Light will become an example of the next generation of developments for Penang and the rest of South East Asia.

On a picture-prefect site of 152 acres of land on Penang Island's eastern coastline, the bold vision of IJM Properties Sdn Bhd, Malaysia's foremost developer and pioneer of many overseas projects, is fast becoming a reality.

The transformation of this excellent site into a global village, to be called The Light, has begun. This RM 6.5 billion project is under taken by Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd.

The Light represents IJM’s pioneering challenge to showcase the biggest and the best in integrated waterfront living, with residential, recreational, entertainment, business, hospitality, education and commercial components all in one dynamic hub.

PHASE ONE (RESIDENTIAL)
• THE LIGHT LINEAR
• THE LIGHT POINT
• THE LIGHT COLLECTION

PHASE TWO (MIXED DEVELOPMENT)
• Family Hotel
• Residential
• IT Mall
• Corporate Park
• Signature Office and Showroom
• Resort Hotel
• Marina
• Premium Waterfront Living
• Office Tower and Business Hotel
• Banquet and Conference Facilities
• Fashion Mall
• Boutique and SPA Hotel
• Family Hall
• Active Mall
• Waterfront Dining and Entertainment District

PHASE THREE (SEA FRONT PARK)
• Sea Front Park

PHASE FOUR (FUTURE DEVELOPMENT)
• Future Development

www.thelightwaterfront.com

http://bp1.blogger.com/_jnitJsnrRX4/R00RPBrmNQI/AAAAAAAAA7A/sabJDjqR8Pk/s320/aa.jpg

rizalhakim

March 6th, 2008, 08:25 AM

Set To Be An International Waterfront Icon

http://www.livintrend.com/images/light1.jpghttp://www.livintrend.com/images/light4.jpg
http://www.livintrend.com/images/light2.jpghttp://www.livintrend.com/images/light3.jpg
IJM Corporation Bhd’s recent unveiling of The Light Waterfront Penang or The Light in short, to be built on part of the 338 acres of reclaimed land along Penang’s eastern coastline, will have a major impact on the island state.

Its chief executive officer and managing director Dato’ Krishnan Tan said, “Not only will it showcase the biggest and the best in integrated waterfront living with residential, enter tainment, business, hospitality, education and commercial components in one dynamic city, the allure of the new and transformed township with The Light as its gateway, combined with Penang’s age-old and natural appeal, will make the island a unique destination."

“We look forward to developing this eastern corner of Penang island that we all know and love into a spectacular and elite destination that will have worldwide appeal in the years to come.”

This RM6.5 billion integrated waterfront development will comprise both residential and commercial components. It will be developed by Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd, which in turn is the property arm of IJM Corporation.

Spanning 152 acres, this project has gross development value of RM4 billion. It will be developed in three phases over 10 to 15 years, with phase one expected to be completed in 2012.

Covering 42 acres, phase one has been set aside for the development of six parcels of high-end waterfront residences totalling 1,186 units.

Phase two, encompassing 103 acres, will be developed into a commercial and retail city. The commercial city will include a gateway tower, family hotel, resor t hotel, boutique and spa hotel and high rise business hotel for business travelers.

Other components include an exhibition centre, signature offices and showrooms, banquet and conference facilities as well as a waterfront promenade with dining and enter tainment facilities. Also in place is a cultural hall, visitor centre and waterfront amphitheatre.

The retail sector will comprise shopping, enter tainment and dining facilities. It will have separate malls for the family, information technology, fashion and one that is called active mall.

There will be a waterfront dining and enter tainment district sited along the promenade. Other unique features include performances on a floating stage and a marina with water taxis and a floating restaurant.

Seven acres have been set aside for a seafront park under phase three of this project, which will soon join the big league of waterfront resor t-living icons such as London’s Canary Wharf, Melbourne’s Docklands, Sydney’s The Rock and Toronto’s Queens Quay.

As par t of IJM Corporation’s commitment to the environment, new trees will be planted along the eastern coastline where The Light project is located with two km set aside for a greenbelt.

rizalhakim

March 6th, 2008, 08:32 AM

http://www.livintrend.com/images/magazine/feb08/dev1.jpg

rizalhakim

March 6th, 2008, 08:33 AM

http://www.livintrend.com/images/magazine/feb08/dev2.jpg

OshHisham

March 6th, 2008, 09:25 AM

^^ bila nak start?

proud_penangite

March 6th, 2008, 12:26 PM

loves it!!

TWK90

March 6th, 2008, 12:36 PM

I like this, the gateway tower really serves like the gateway to the island as it is located near to the Penang Bridge...and it looks like a self-sustaining township to me as well, there's residential part, then hotel, office, mall, marina and also public space for families....hopefully, there's one monorail line pass through this development, that will be complete to me...

rizalhakim

March 7th, 2008, 05:02 AM

sumhow dis project reminds me of PGCC.....especially da 2 towers

tomkat

March 7th, 2008, 11:10 AM

Good alternative location for PGCC... What fdo you guys think?

proud_penangite

March 7th, 2008, 06:45 PM

i love it but we need pgcc as well!

proud_penangite

March 9th, 2008, 03:34 PM

DAP dah amik penang. Can this project survive?

TWK90

March 9th, 2008, 04:02 PM

^^

Why not? This is private project, and in my opinion, it is better than PGCC in some aspects...

TYW

March 10th, 2008, 01:58 PM

^^ bila nak start?

sudah start reclamation long time ago...

jlshyang

March 10th, 2008, 07:31 PM

Yea, i think this is better than PGCC. The PGCC tower is cool, they can keep that and throw the rest. LOL

OshHisham

March 11th, 2008, 03:05 AM

sudah start reclamation long time ago...

o0o good..since i'll be going to penang next week..really have to see the progress....

and i know some might be worry about the fate of PGCC, but i strongly believe the project will resume soon after new state government gives a deep review on it....:yes:

cooltemper

March 13th, 2008, 03:00 AM

o0o good..since i'll be going to penang next week..really have to see the progress....

and i know some might be worry about the fate of PGCC, but i strongly believe the project will resume soon after new state government gives a deep review on it....:yes:

OMG, are you really come to PEnang?
I think the new government should declare a "darurat kesihatan"... i don't know how many billion bacteria you will be bringing to Penang.

WhyS

March 14th, 2008, 04:36 PM

o0o good..since i'll be going to penang next week..really have to see the progress....

and i know some might be worry about the fate of PGCC, but i strongly believe the project will resume soon after new state government gives a deep review on it....:yes:

All Penangites look forward PGCC can move forward to next step .... except those " Anti development " Ghost .

proud_penangite

March 14th, 2008, 04:45 PM

All Penangites look forward PGCC can move forward to next step .... except those " Anti development " Ghost .

anti development ppl should live in Kelantan!!!!!!

built_in_me

March 29th, 2008, 12:53 AM

HAHAHAHAHAHA LOL LOL ......nice one proud-penangite..actually they shud go to perlis or maybe kalimantan.....and proud-penangite i like it when u say that 'we still need PGCC' keep up the spirit man...development is essential...by hook or by crook we have to fine-tune any project in line and get it progressing..then only we can make a change... anyway u were quite unsure bout the light pulak...trust me man it's by private and on top of that it's by IJM the 'GODFATHER' of penang....the light has more promises than pgcc...the light has started long time ready..when it first started many people thought the small reclamation land is to adjoin with the expansion of p.bridge...actually it's reclaiming for the light...and there is no problem with 'the light' project and there won't be also...no worries...but still yea...we want pgcc to be successful as well....PGCC can be great....

rizalhakim

June 2nd, 2008, 04:16 AM

Penang projects to gain from conversion

The projects that stand to benefit include IJM Properties Sdn Bhd's 350 acres of reclaimed coastal land along the Jelutong Expressway, which has a potential gross development value of RM6.5bil.

Under a privatisation exercise in 1997 to build the Jelutong Expressway, IJM was granted the right to reclaim the land for property development.

Development plans for an integrated waterfront township called The Light will comprise residential, entertainment, business, education and commercial components.

Under phase one, six parcels of high-end residences will be developed over 17ha comprising 1,186 units. It is scheduled for completion in three to five years.

Phase two will comprise a commercial and retail centre on 41.68ha while phase three would be developed into a 2.8ha seafront park.

Previously, there were also other sizeable leasehold property developments in the state that have been converted to freehold status.

proud_penangite

June 23rd, 2008, 06:14 PM

photos by @Dmateur from flickr

http://farm4.static.flickr.com/3146/2601116750_0ffed1cbca_b.jpg
http://farm4.static.flickr.com/3052/2600276773_fc5ef28889_b.jpg

dingdangdong

June 24th, 2008, 02:36 AM

Hmm, those are pretty nice pics by @Dmateur.
I'm thinking he/she could have taken those pics one of the 2nd or 3rd floor of egate?
Or else it's from the newly built IJM office next to tesco?
Or perhaps one of the apt from Bayswater?

WhyS

June 24th, 2008, 03:45 AM

rizalhakim

July 2nd, 2008, 08:55 AM

THE LIGHT Waterfront project on track

http://star-space.com/archives/2008/6/26/pliving/LW2600.jpg
A “green” feature that will be unique to THE LIGHT Waterfront is the harvesting of coral reefs in the waterways that will be built around the residential phase of the development. The coral reefs will function to beautify the development, especially at night when the reefs will be lit with a soft underwater glow.

The LIGHT Waterfront Penang project will have underwater gardens of coral reefs in the waterways built around the residential phase of the RM6.5-billion development. Lit underwater with lights powered by wind generators, residents will have a clear view of the reefs from their balconies or windows.:banana::banana:

According to a press release, Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd, will implement eco-friendly technologies and designs into its residential and commercial mixed-development.

http://star-space.com/archives/2008/6/26/pliving/TheLightTehKeanMing120.jpg
Teh Kean Ming: THE LIGHT Waterfront will have a major positive impact on the entire development of Penang.
The green designs and technologies will be implemented based on guidelines prepared by The Leadership in Energy Environment and Environmental Design (LEED).

The statement explained that the use of environmentally-sensitive systems and low-impact materials within the 338-acre of reclaimed development will result in an energy-efficient, healthier and environmentally sustainable buildings, benefiting both the residents and the environment.

“THE LIGHT Waterfront will be an iconic landmark that will distinguish Penang Island as a world-class destination with a waterfront living resort and lifestyle hub of an international standard,” said Jelutong Development Sdn Bhd managing director Teh Kean Ming in the statement.

“With our leading-edge designs, we want to continue to seamlessly create a new standard for business, tourism, real estate and hotels for the region by also incorporating leading edge green technology into our development,” he added.

“THE LIGHT Waterfront will have a major positive impact on the entire development of Penang. However, construction and development will also have a major impact on many of the world’s most pressing environmental problems such as climate-change, waste generation and depletion of natural resources. As a responsible and leading property developer, we want to encourage the incorporation of green technology that would be friendly to the environment which will in turn, benefit our customers via cost savings on utilities,” said Teh.

Among the eco-friendly technologies that will be installed and implemented are wind-turbines, solar panels, a state-of-the-art water management system, green roofs and the use of recycled materials on selected areas within THE LIGHT Waterfront as well as the management and reduction of solid waste.

Another “green” feature that will be unique to THE LIGHT Waterfront is the harvesting of coral reefs in the waterways that will be built around the residential phase of the development.

http://star-space.com/archives/2008/6/26/pliving/LW1300.jpg
To lessen the need for generated electricity at THE LIGHT Waterfront, wind turbines will be erected at the central axis – The Plaza – which will function as both art pieces as well as alternative sources of electricity.

Besides creating a healthier marine life, the coral reefs will also function to beautify the development, especially at night when the reefs will be lit with a soft underwater glow. The underwater glow, powered by wind generators, will allow residents a clear view of the underwater world directly from their balconies or windows.

To maintain the success of the coral reefs, Jelutong Development will engage THE LIGHT Waterfront’s future residents and visitors in educational programmes on the harvesting efforts, backed by a “reef support group”. Through the group, residences and visitors can also monitor growth progress and the progress of the marine life within the coral reefs.

To lessen the need for generated electricity at THE LIGHT Waterfront, wind turbines will be erected at the central axis – The Plaza – which will function as both art pieces as well as alternative sources of electricity. These wind turbines, a unique feature that will not be found anywhere else in the region, will greatly benefit both residents and the environment as power generation is generally the most expensive feature to add to a development while taking in the highest amount of energy.

http://star-space.com/archives/2008/6/26/pliving/LW3300.jpg
Solar powered panels will also further reduce energy loads, heating water for private homes and private swimming areas. In addition, effective window placements can provide more natural light and lessen the need for electric lighting during the day.

To reduce the impact on water treatment plants and to minimise water waste, Practiced Water Management will be implemented whereby rainwater will be used for irrigation and gardening.

Greywater - non-industrial wastewater generated from domestic use such as dish-washing or laundry - can also be used for the same purposes, i.e. irrigation, gardening, washing of cars or the flushing of toilets.

During the construction phase, Jelutong Development will also focus on reducing the amount of materials going into landfills. Recycled materials will be used during construction such as recycled timber decks and armor rocks as well as recycled road foundations.

Jelutong Development plans to encourage tenants and residents at THE LIGHT Waterfront to participate in a recycling programme at the development’s Recycling Centre for plastic, glass, metal and paper.

THE LIGHT project was launched on Nov 23 last year by IJM Properties Sdn Bhd, a division of IJM Corporation Bhd.

Solar powered panels will also further reduce energy loads, heating water for private homes and private swimming areas. In addition, effective window placements can provide more natural light and lessen the need for electric lighting during the day.

The development is the island’s first integrated waterfront city. It will be built within the 338 acres of reclaimed land along Penang’s eastern coastline.

The 152-acre LIGHT development with a total Gross Development Value (GDV) of RM4 billion, will include waterfront resort-homes and an international-class lifestyle hub.

THE LIGHT will be developed in three phases, with 42 acres in Phase One set aside for the development of six parcels of high-end waterfront residential development comprising of 1,186 units.

In Phase Two, 103 acres will be developed into a commercial and retail city. The commercial city will consist of the Gateway Tower, family-class hotel, resort hotel, boutique and spa hotel, high-rise business hotel, exhibition centre, offices and showrooms. Also to be developed will be banquet and conference facilities as well as a waterfront promenade with dining and entertainment facilities, a cultural hall, visitor centre and waterfront amphitheatre.

The retail sector will have shopping, entertainment and dining facilities with a Family Mall, an IT Mall, a Fashion Mall and an Active Mall. It will also feature a waterfront dining and entertainment district, located along the promenade.

Other unique features within Phase Two include performances on a floating stage and a marina with water taxis and a floating restaurant.

Phase Three will have seven acres set aside for the development of a seafront park.

Trees will be planted along the coastline of the project with a 2km greenbelt as well as greenery integrated into the project designs.

THE LIGHT will be developed over a period of 10-15 years with Phase One expected to be completed in 2012.

proud_penangite

July 2nd, 2008, 09:06 AM

i love IJM!

TWK90

July 2nd, 2008, 09:12 AM

Erm, this project stress the "eco" part a lot, it will be interesting to see how it works in real life...

That tower looks like around 3x or 4x storeys, if we look at the Pearl Regency photo...

Magician

July 2nd, 2008, 09:22 AM

photos by @Dmateur from flickr

http://farm4.static.flickr.com/3146/2601116750_0ffed1cbca_b.jpg
http://farm4.static.flickr.com/3052/2600276773_fc5ef28889_b.jpg

Oh so this site is for the Light Waterfront project and its not for the Penang bridge expansion?

TYW

July 3rd, 2008, 06:04 AM

i afraid if the reefs will die off... Penang has never been known to be good at mantainence...

built_in_me

July 14th, 2008, 02:14 PM

be positive ler.....it's IJM...there is hope....

rizalhakim

July 28th, 2008, 08:33 AM

2009 launch for IJM Penang project
By S.C. CHEAH

KUALA LUMPUR: IJM Land Bhd's flagship development in Penang, The Light, valued at RM4.5bil, will be launched early next year.

Work on the 152-acre mixed residential and commercial development, on 338 acres of reclaimed land along the eastern coastline of Penang (near Tesco hypermarket), will begin in September and scheduled for completion in 2017.

IJM Corp Bhd deputy chief executive officer and deputy managing director Teh Kean Ming told StarBiz yesterday the development would comprise very upmarket waterfront villas, condominiums, office buildings, a hotel, shopping complex, “floating restaurant” as well as facilities for meetings, incentives, conventions and exhibitions. There will also be an amphitheatre, and an event stage on the sea, waterways and canals.

http://thestar.com.my/archives/2008/7/26/business/b_03light.jpg
An artist's impression of The Light.

“This will be a very unique waterfront development that we plan to launch in the first quarter of next year. We may launch some low-rise condominiums and the water villas first,” he said, adding that the indicative price of the villas was about RM10mil each.

IJM Land managing director Datuk Soam Heng Choon said The Light would transform Penang into a modern and progressive state.

“The Light Waterfront is IJM Land's jewel in the crown. We are very proud of the project and are extremely excited about what it means for Penang in particular, and Malaysia as a whole,” he said.

Soam said the RM6.5bil mega project, to be developed over three phases, constituted over half the value of all properties featured at the i-Property exhibition, which opened at the KL Convention Centre yesterday.

He said the 42 acres under phase one would have six parcels of 1,186 units of high-end residential waterfront developments, while the 103-acre phase two would involve residential, commercial and retail properties.

He said that in line with the company's efforts to cut utility costs and promote green building concepts, The Light Waterfront would lead the way as Malaysia's premier eco-friendly development.

“In implementing this project, we will follow the guidelines prepared by The Leadership in Energy and Environmental Design, which will result in energy-efficient, healthier, and environmentally-sustainable buildings.

“We are committed to developing eco-friendly buildings as they will help our customers save on utility bills. This is important, especially now with rising energy costs,” he said.

Among the eco-friendly technologies are wind turbines, solar panels, a modern water management system and green roofs. The use of recycled materials in selected areas and a state-of-the-art solid waste management system are also in the cards.

Another unique “green” feature is the harvesting of coral reefs in the waterways around the residential phase.

.....dis is big dude.....

rizalhakim

July 29th, 2008, 06:45 AM

The 1st phase will be the residential blocks and the 2nd phase will be the commercial blocks....

rizalhakim

July 29th, 2008, 06:47 AM

http://a449.ac-images.myspacecdn.com/images01/127/l_073afbfd7551eda5011cea4a33dbad80.jpg

rizalhakim

July 29th, 2008, 06:48 AM

http://a620.ac-images.myspacecdn.com/images01/75/l_a66d5a0e21678cbe31aa79f837b66ba3.jpg

http://a36.ac-images.myspacecdn.com/images01/63/l_8ce06a456e4e5a0ebbdc1e9cbb8f659b.jpg

rizalhakim

July 29th, 2008, 06:49 AM

http://a866.ac-images.myspacecdn.com/images01/22/l_2cbe1bd6f8d9f3b30f92e18d4600ae19.jpg

and check out the main blocks, got trees maaa.....:banana::banana::banana:

dengilo

July 29th, 2008, 07:03 AM

PGCC Jr ha ha

rizalhakim

July 29th, 2008, 07:17 AM

Residential Blocks - phase 1, current project

http://a209.ac-images.myspacecdn.com/images01/23/l_03e0c10fe13ad2ce75350856fd9afd58.jpg

http://a112.ac-images.myspacecdn.com/images01/70/l_f23f6990c3648edd449ebdee8c8aec87.jpg

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rizalhakim

July 29th, 2008, 07:22 AM

the tallest condo

http://a853.ac-images.myspacecdn.com/images01/9/l_f623abcfb047ea53472f0343c90bb3bc.jpg

rizalhakim

July 29th, 2008, 08:30 AM

Greening for the LIGHT Waterfront Penang

Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd, will implement eco-friendly technologies and designs into its RM6.5 billion 338-acre mixed residential and commercial developme
nt, The LIGHT Waterfront, in line with the company’s effort to cut costs in utility and promote green building concepts.

The implementation will be based on the guidelines prepared by The Leadership in Energy Environment and Environmental Design (LEED) resulting in energy-efficient, healthier, and environmentally sustainable buildings.

“The LIGHT Waterfront will have a major impact on the development of Penang. As a responsible and leading property developer, we want to encourage the incorporation of green technology that would be friendly to the environment which will in turn benefit our customers via cost savings on utilities,” said Mr. Teh Kean Ming, Managing Director, Jelutong Development.

Among the eco-friendly technologies in the project are wind-turbines, solar panels, a state-of-the-art water management system, green roofs and the use of recycled materials on selected areas as well as management and reduction of solid waste. Another unique “green” feature to the project is the harvesting of coral reefs in the waterway around the residential phase of the development.

Once completed, The LIGHT Waterfront will also feature a seven-acre seafront park in Phase Three of the project for the enjoyment of its residents and visitors.

rizalhakim

July 31st, 2008, 08:09 AM

http://a268.ac-images.myspacecdn.com/images01/47/l_4d8c7ddbaaa14b0938edc35b7c61877b.jpg

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http://a939.ac-images.myspacecdn.com/images01/33/l_6998a43d6aa02a5bfa11ec727a2d4112.jpg

rizalhakim

July 31st, 2008, 08:17 AM

http://a535.ac-images.myspacecdn.com/images01/54/l_d45e165a6f069260c25edf26774398c6.jpg

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rizalhakim

July 31st, 2008, 08:19 AM

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http://a456.ac-images.myspacecdn.com/images01/53/l_9449fc8d6340f0ef65a8282925185407.jpg

rizalhakim

July 31st, 2008, 08:21 AM

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rizalhakim

July 31st, 2008, 08:22 AM

http://a273.ac-images.myspacecdn.com/images01/11/l_ac5ba6f6f67be2c7a422749405253048.jpg

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rizalhakim

July 31st, 2008, 08:27 AM

http://a420.ac-images.myspacecdn.com/images01/16/l_29dfa2867cab62c05f1cf1d577cc0deb.jpg

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Riverofmoltensteel

July 31st, 2008, 10:01 AM

Well.... Two emerging cities... I still think KL will still be the best skyline in Msia no matter what these two cities try to put up...

Irwin

July 31st, 2008, 12:46 PM

Well.... Two emerging cities... I still think KL will still be the best skyline in Msia no matter what these two cities try to put up...

KL is capital city of Malaysia what...lol...somemore too much developement concentrate on Klang Valley. :lol:

patchay

July 31st, 2008, 12:52 PM

wat about Danga Bay (JB) in future? :lol:

Riverofmoltensteel

July 31st, 2008, 01:34 PM

^^ Maybe, maybe not, but like Irwin said "somemore too much developement concentrate on Klang Valley" We're may even see five new supertalls around Klang valley also (including the recent PJ SENTRAL CORPORATE PARK)

proud_penangite

August 1st, 2008, 06:28 AM

The Light goes green

IJM’s The Light waterfront project in Penang will be developed in accordance with the Leadership in Energy and Environmental Design (LEED) - a green building rating system established by an international sustainable building movement.

IJM Land managing director Datuk Soam Heng Choon said the company was committed to building eco-friendly buildings as these features would help purchasers save on utility bills.

“This is especially important now with cost of energy on the rise. Besides eco-friendly technologies, the project boasts of wind turbines, solar panels, a modern water management system and green roofs.

“The use of recycled materials on selected areas and a state-of-the-art solid waste management system is also on the cards,” he said.

He also said that once the project was completed, residents and visitors would be able to enjoy a massive seafront park under Phase 3 of the development.

Featuring 1,186 units of high-end waterfront condominiums, an office tower, four hotels, a family hall, an IT mall, a fashion mall, dining and entertainment facilities, the project is located along the Penang’s eastern coastline.

sasaumau

August 1st, 2008, 09:57 AM

Venycal

August 1st, 2008, 11:27 AM

i'm really sad because the development in penang now is like a tortoise meanwhile kl, pj, jb and melaka are moving and developing boombastically!!!
In term of modern infrasturctural and architectural development, penang is way behind. Nothing to be proud of. May be penang especially georgetown is only meant for grand ma and grand pa....

same here......I fear Penang will soon become retirement paradise and nothing else.......even though there are some FDI and so on.......it's not enough to put Penang into the next level......

built_in_me

August 15th, 2008, 07:38 AM

mmmmmm....not really....penang has the potential guys...it's just the politics....and stupid federal government not co-operating with penang state government....
anyway what is FDI

TWK90

August 15th, 2008, 07:40 AM

^^

FDI = Foreign Direct Investment, basically, it is just about foreign investments....

rizalhakim

August 18th, 2008, 05:05 AM

IJM Land to focus on mid to high-end projects

The company now has more than 30 ongoing projects and looks set to join the league of major property players

HAVING the right product mix and brand attributes will ensure IJM Land Bhd joins the league of other well-regarded and strong growing property companies.

According to managing director Datuk Soam Heng Choon, the company would be placing more focus on medium-high to high-end property products as demand for mass market products had slowed down.

“We have some RM1.5bil to RM2bil worth of products lined up for launch each year, of which 30% will comprise high-end properties, 40% medium to medium high-end products and the balance lower-priced products,” he said.

High-end residential properties priced from RM1mil to RM7.2mil currently make up 20% of IJM Land’s total product offerings.

Its products have also shown good capital appreciation. An example is the Ampersand condominium in the KLCC vicinity, which were priced at RM600 per sq ft when the project was launched about a year ago but have now appreciated to RM1,200 per sq ft.

In line with IJM Land’s brand attributes of quality and well-designed products, value creation and on time delivery, Soam said IJM Land would be focusing on more modern and contemporary designs to meet the changing lifestyles of its buyers.

The company has more than 30 ongoing projects, of which 20 are in the Klang Valley, five in Penang, four in Johor, three in Seremban, two in Kuching, and one each in Malacca and Sandakan.

Meanwhile, the massive Canal City development on 5,000 acres in Kuala Langat is scheduled for launch next year. The project has an estimated gross development value (GDV) of RM10bil.:banana::banana:

In Penang, IJM Land has its hands full with the ongoing development on the company’s coastal landbank along the Jelutong Expressway.

The IJM group was granted approval by the former Penang state government to develop 338 acres of land in exchange for the construction of the 4.7km Jelutong Expressway, which kicked off in the 1990’s.

The first 3.1km stretch of the expressway was opened to the public in 2003 while stage two was opened in February.

The whole development will be undertaken over four precincts – Bandar Sri Pinang on 82 acres, Metro East (30 acres) and The Light (152 acres) while the balance 100 acres comprising education, medical, art/cultural, commercial and residential components will be for future development.

The expected GDV for each of the precincts are RM680mil, RM1.1bil, RM5bil and RM2.5bil respectively.

Bandar Sri Pinang, comprising mainly medium to low-medium residences, is about 70% completed. The balance is expected to take another three to four years.

Among the ongoing projects in Metro East include Platino luxury condominium with GDV of RM190mil and Pearl Regency worth RM535mil.

The crown jewel of IJM Land is The Light, which is set for launch in the last quarter of this year.

The 152-acre integrated residential and commercial project will have 1,186 residences, including upmarket waterfront villas and condominiums, as well as office buildings, four hotels, retail malls, dining and entertainment facilities, seafront park, floating restaurant, and facilities for meetings, incentives, conventions and exhibitions.

The project, undertaken by IJM Land subsidiary Jelutong Development Sdn Bhd, will take 12 years to complete.

Work on the development will begin before year-end and the residential component under phase one is scheduled for completion by 2012 while phases two and three will take 12 to 15 years.

Under phase one, covering 42 acres, six parcels of high-end and low-density waterfront residences, will be developed.

With more than two million sq ft in total built up, the exclusive residences, with a view of the Penang Bridge, will generate a GDV of RM1.05bil.

Under phase two on 103 acres, a commercial and retail city, comprising the Gateway Towers, hotels, signature offices, showrooms, banquet and conference facilities, cultural hall, visitor centre and waterfront amphitheatre, will be built.

The seven-acre phase three will feature a seafront park.

The Light will be Penang’s first big scale wireless development and integrated waterfront project that is based on environment friendly designs and will use eco-friendly materials.

In line with IJM Land’s efforts to promote green building concepts, Soam said The Light would lead the way as Malaysia’s premier eco-friendly development.

“The focus will be on energy-efficient, healthier and environmentally-sustainable buildings.

“Being Penang’s first ‘green’ and sustainable development, the project will feature passive and energy efficient designs, including the use of solar panel for heating; wind turbines and photovoltaic panel as part of green energy; rainwater harvesting; eco self-sustainable canals; solid waste recycle management; green roof and the use of recycled timber and plastic,” he said.

Meanwhile, the calm water at the South Channel between the Penang island and the main land, will be ideal for The Light’s water recreational activities including water taxi, boating and floating restaurant.

nazrey

August 26th, 2008, 06:20 AM

IJM Land plans to launch 28 projects
Tuesday August 26, 2008
TheStar

They are mixed development with GDV of RM600mil

SUBANG JAYA: IJM Land Bhd plans to launch 28 mixed development projects with a combined gross development value (GDV) of RM600mil, says managing director Datuk Soam Heng Choon.

“The projects will be located in Penang, Klang Valley, Malacca, Johor, Negri Sembilan and Sandakan,” he said after the company AGM and EGM yesterday.

He said the company was currently developing “The Light” waterfront project in Penang and a township called Bandar Utama in Sandakan.

According to Soam, the company had taken over Sebana Cove, an on-going resort-cum-mixed development project on the southern east tip of Johor.

This would be redeveloped to attract Singaporeans, he said.

The company paid RM120mil for Sebana Cove with infrastructure completed. Current prices in the area range from RM600,000 for a semi-detached house to RM400,000 for a town house.

“We are targeting the middle to upper-middle segment,”Soam said.

On another note, IJM Land would be a geographically diversified Malaysian developer once it completed its rationalisation exercise by Sept 5, Soam said.

IJM Land, previously known as RB Land Holding Bhd, used to have projects only in the Klang Valley and Seremban.

“We would continue to showcase our property in the Klang Valley, Seremban, Penang, Johor, Malacca and Sandakan.”

On IJM Land’s overseas venture, Soam said the company was investing in Changchun, the automotive city of China, for a commercial service suites-cum-residential development with a retail component.

It holds a 50% stake in the project, which will have a GDV of RM500mil when completed in four years.

On measures taken to counter the rising building material cost, Soam said its in-house construction arm was one way of keeping cost down.

nazrey

September 8th, 2008, 12:15 AM

IJM Land: Call us a property supermarket
By Jeeva Arulampalam Published: 2008/09/08 BusinessTimes

IJM Land Bhd will rebrand itself this Thursday as a new corporate entity that aims to be a top tier local developer with geographically diversified projects in Malaysia.

The rebranding exercise comes as IJM Land has completed its rationalisation of IJM Properties into the former last Friday.

"With a streamlined and focused business now, we can call ourselves a property supermarket as we have high-end products in KLCC and low-cost products in other townships," IJM Land managing director Datuk Soam Heng Choon told Business Times in an interview.

IJM Land currently sits on an enlarged landbank of 4,253ha with a gross development value (GDV) of RM26 billion, after holding company IJM Corp Bhd combined property units RB Land Holdings Bhd and IJM Properties Sdn Bhd into one entity.

As a softening property market looms ahead, Soam said, IJM Land will focus on its positive markets such as Sandakan and Penang.

"In Sandakan, the market is still bullish as its driven by crude palm oil while in Penang, we are launching new projects like The Light which will propel us into bigger developments there," he said.

The Light development is divided into four phases including residential, commercial and mixed developments plus seafront facilities.

The first residential phase, the Light Linear and Light Point projects, will be launched by year-end. "This project will see a blend of the new and old Penang," said Soam.

For a challenging market like Johor Baru, Soam said, the company will work harder at selling units while tweaking its products to meet the current market needs. "We will focus on the medium to medium high-end markets and slow down on (developing new) mass housing projects under RM250,000," he added.

Soam said, to contend with rising material costs and a softening property market, IJM Land will target housing needs of specific market segments. "We are focusing on the Malaysia My Second Home programme and marketing our Penang Pearl Regency project overseas. We are doing a sales launch overseas targeting Koreans over the next two months and if the response is encouraging, we will then do this for our other products," he said.

On overseas development, its maiden project will be an upmarket residential and retail project in China's automotive city, Changchun, with a GDV of RM500 million.

"We are looking at other second tier cities in China while considering other emerging markets such as Vietnam. However, we have not set a timeframe," Soam said.

nazrey

September 11th, 2008, 11:11 PM

IJM Corp may cut stake in property unit to 60pc
By Sharen Kaur Published: 2008/09/12
BusinessTimes

http://www.btimes.com.my/Monday/OurPick/IJM111.xml/Article/Current_News/BTIMES/Images/btgraph10/ijm12.jpg

IJM Corp Bhd may reduce its stake in its property unit IJM Land Bhd to 60 per cent to boost trading in its stock and diversify its shareholding base.

It now holds 76 per cent of IJM Land.

"At some point, when the market improves, we will place some of the shares preferably to institutional shareholders. It can be anybody," IJM group managing director Datuk Krishnan Tan Boon Seng said.

He was speaking at the launch of IJM Land's new corporate identity and logo in Subang, Selangor, yesterday. He is also IJM Land chairman.

"If you look at the IJM group of companies, it is predominantly owned by institutions. So we would like an institutional shareholding base," he said.

IJM Land, the fourth largest listed developer in terms of assets valued at RM3.1 billion, is the result of a merger between IJM's property units, RB Land Bhd and IJM Properties Sdn Bhd.

It currently sits on an enlarged landbank of 4,253ha with a gross development value (GDV) of more than RM20 billion that will be realised over 20 years.

As for IJM, Tan expects a better performance in the current financial year ending March 31 2009, led by IJM Land, which has 60 on-going projects.

From now to March 2009, IJM Land will also launch 28 projects worth RM600 million.

"Profit margins in property are generally higher than in construction. As cost escalates, construction earnings will likely be affected. Although we are making money, we are making less," Tan said.

In terms of revenue, Tan said the construction division, with over RM5 billion worth of contracts in hand, will remain the highest contributor.

IJM Land managing director Datuk Soam Heng Choon, meanwhile, told reporters it will replicate what it has done in Malaysia, in China.

It is due to launch its maiden residential and retail project in China's automotive city, Changchun, which will boast a GDV of RM500 million.

"We are in talks with locals to tap China's second-tier cities but the priority is to get all the projects in Malaysia kick-started," Soam said.

Soam said IJM Land is also talking to a few parties for an en-bloc sale of properties in some new commercial and residential developments coming up soon in Kuala Lumpur and other states.

rizalhakim

September 12th, 2008, 03:41 AM

IJM new website...

www.ijmland.com.my

built_in_me

September 17th, 2008, 03:14 PM

good...

rizalhakim

September 22nd, 2008, 08:36 AM

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rizalhakim

September 22nd, 2008, 08:37 AM

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rizalhakim

September 30th, 2008, 04:34 AM

http://www.veritas.com.my/newsletter/Website%20Newsletter/September%202008/02.jpg

rizalhakim

October 7th, 2008, 07:59 AM

Building a new image
By Sharon Kam
Email us your feedback at fd@bizedge.com

IJM Land Bhd is now one of the largest property developers in the country with some 10,000 acres of land which, the developer says, has a potential gross development value (GDV) of RM20 billion to be realised over the next 20 years.
In the next six months, some RM600 million worth of properties are ready to be put on the market, the most significant of which would be The Light, IJM Land's flagship waterfront development in Penang.
Unless market conditions deteriorate further, the inaugural residential launch of the RM5 billion freehold project can be expected sometime next month or in December, IJM Land managing director Datuk Soam Heng Choon tells City & Country.
IJM Land, the property arm of IJM Corp Bhd, and listed on the Main Board of Bursa Malaysia, is a merger of IJM Properties Sdn Bhd and RB Land Holdings Bhd.
For Soam, the former managing director of RB Land, the merger could not have come at a better time. With an enlarged pool of resources, expertise and locations, the merged entity is thus better prepared to face the current slowdown. "There's a lot of synergy in the group because we now have a geographically diversified landbank as well as a variety of products that allow us to offer specific products in specific locations based on market demand at different times," he explains.
RB Land and IJM Properties had stamped their respective brands on different states. While RB Land had a strong presence in Seremban, Negri Sembilan, IJM Properties had been building its name in Penang from 1988. With a diversified property portfolio, both in terms of type and location, the developer has flexibility in meeting market needs, something which may stand it in good stead during a slowdown.
"For example, if the market is not so good for mass housing and margins are squeezed, we can move to the high-end products and when times are better, we can move to the rest. We push different products at different times," says Soam of the company's strategy.
IJM Land has embarked on a rebranding exercise which began with the launch of a new corporate identity on Sept 11.
The developer wants to be known as a company that delivers quality products. It wants to discard its image as a mere contractor or a construction player building projects for others. "We want people to know that IJM is a serious property developer and a good one at that," says Soam. The developer currently has more than 60 ongoing projects.
For a start, to improve quality, site supervisors have to undergo a training programme drawn up with the help of an Australian skills training group. The programme began early this year. This is in response to complaints often heard from homebuyers about basic quality such as wavy walls and crooked doorways.
"Our construction sector expanded so fast that we do not have enough professionally trained skilled workers. Many of those who are trained end up overseas. We now depend on less skilled foreign labour. So at IJM, before we start construction, we train our site supervisors who will be able to tell the workers what's right and what's not," says Soam. The greater emphasis on quality is also to meet the increasingly high expectations of consumers today, he adds.

The Light's first launch

The Light, IJM Land's crown jewel, spans 152 acres on reclaimed land along the eastern coastline of Penang island, stretching from the Penang Bridge to the city centre. The eastern coastline, says the developer, is protected by the mainland which reduces the risk of it being affected by a tsunami.
The project site is 10 minutes away from George Town via the Jelutong Expressway, 20 minutes from the Penang International Airport via the coastal highway and 20 minutes from the mainland via the Penang Bridge. "Of course, from The Light, we will have a view of the Penang Bridge and the lights across the mainland at night," says Soam.
Phase one is a 42-acre residential precinct which include The Light Linear and The Light Point condominiums. The Light Linear, on a 7.66-acre site, offers 328 units housed in two 17-storey blocks with a GDV of RM203 million. These are sea-view condominium units with built-ups of 1,475 to 1,561 sq ft and a modern contemporary design. The indicative average price is RM410 psf.
The more exclusive The Light Point condominium offers 88 units with wide ocean vistas in a single 28-storey tower on a 2.87-acre site. Built-ups are from 1,830 to 2,300 sq ft. There are also two penthouses of 4,090 sq ft. The Light Point has a GDV of RM110 million with an indicative average price of RM550 psf.
Both The Light Linear and Light Point will be built according to green standards. This is in line with the developer's commitment to develop The Light entirely as Penang's first green development. "We will apply for LEED (leadership in energy and environmental design) certification for our projects here. Besides solar panels, wind turbines will also be used to create electricity for the common areas. A rainwater harvesting system will be in place while recycled materials will be used where appropriate," says Soam.
LEED is a green building rating system established by an international sustainable building movement. "It is especially important now for developers to build green buildings as the cost of energy is on the rise. There is also a rising demand for such projects as people become more aware about the effects of climate change. Not only will our buildings be energy-efficient and sustainable, we would also be creating a seven-acre seafront park under phase three of The Light," says Soam.
There will also be a breeding programme for corals and fish at The Light. The developer is working with a marine biologist to culture coral and reefs in the waterways that surround the residential properties. The objective is to create a self-sustaining eco-pond that not only breeds marine fish but also allows for coral and reef harvesting. These self-sustaining waterways will further enhance the ambience and value of the property, the developer says.
Piling works on The Light Point and The Light Linear have begun. In all, The Light residential precinct (phase one) will offer 1,186 homes, including condos, townhouses, villas and waterfront homes with private jetties. Phase two, covering 103 acres, will be the commercial precinct with a marina. It will comprise, among others, the Gateway Tower offices, signature offices and showrooms, a waterfront ampitheatre, hotels, an exhibition centre and several malls. The Light is expected to take 12 to 15 years to be built.
The Light sits on reclaimed land. In the 1990s, Jelutong Development Sdn Bhd, developer of The Light and a subsidiary of IJM Land, was granted the right to reclaim 325 acres by the state government as part of the privatisation agreement for the construction of the Jelutong Expressway. Of the 325 acres, IJM is developing the 30-acre MetroEast (see next story), the 82-acre Bandar Sri Pinang offering low and medium-cost properties and now The Light, with the remainder of less than 100 acres for future development.
IJM Land is not the only developer in Penang building on reclaimed land. The E&O Group is also building Seri Tanjung Pinang on reclaimed land. Asked about the competition, Soam says the two projects are different in many ways, including approach and design concept. He says The Light is poised to be a dynamic and modern integrated iconic waterfront development consisting of residential, retail, entertainment and MICE (Meetings, Incentives, Conventions and Exhibitions) facilities, whereas Seri Tanjung Pinang has a more colonial design, with emphasis on landed residential and commercial properties in a resort setting.
IJM Land is not a new name in Penang. It has been active on the island since 1988 and has a total landbank of about 530 acres there, including land that has been developed.
Soam remains bullish on Penang. "Penang is a vibrant and resilient market. There are a number of multinational companies here and many local self-made businessmen with lots of disposable income who seem to prefer to invest their money in properties even during an economic slowdown. Moreover, a number of Penangites who leave the state to work somewhere else often like to buy a home back in their hometown."
Among IJM Land's ongoing launches in Penang is the 228-unit Platino condominium in MetroEast, a freehold development opposite The Light. The Platino units, with built-ups from 1,800 sq ft, are sold at an average of RM400 psf. Take-up has reached 60%.

The Klang Valley
IJM is the contractor of several high-end projects in the KLCC area such as Park Seven, Binjai and The Troika. So, it makes perfect sense for it to develop its own high-end condominium project here. Enter IJM's Ampersand @ Kia Peng on a 2.7-acre leasehold tract in the city centre. The 71 units were launched a year ago at RM650 psf and are 60% sold. The rest of the units are now going for RM1,200 psf.
Another of IJM's ongoing projects in the Klang Valley is Laman Baiduri, a 228-unit condominium, which includes 32 lake-fronting villas within the gated Wangsa Baiduri residential estate in Subang Jaya, Selangor. Located between the completed Boulevard condominiums and 10 Baiduri zero-lot bungalows, which will be handed over in November, the leasehold Laman Baiduri is adjacent to the Holiday Villa Subang Hotel. Housed in two blocks with every unit facing the lake, the condos are 60% sold since the launch of the first block of 114 units in mid-June at RM380 psf. Built-ups are from 1,184 sq ft.
Over in Cheras, the developer is offering more than 100 units of semi-detached homes in a project called Shngvilla on Jalan Kuari. The project sits on rocky ground 200m above sea level.
In Section 8, Petaling Jaya, it is developing a RM250 million commercial project called PJ8 comprising serviced suites, office suites and two office towers.

Seremban 2
Some 80% of the 2,300-acre township in Negri Sembilan has been completed since its launch 12 years ago. "Seremban 2 is on its way to becoming a mature township with good infrastructure and a 15-acre park. We have a Jusco shopping centre there and government offices, including a courthouse, police and fire rescue and service headquarters," says Soam.
Ongoing launches feature semidees and bungalows in the high-end enclave of Sri Carcosa, with 40 units of semidees (built-ups from 3,000 sq ft; land area from 3,600 sq ft and prices from RM500,000) and more than 50 units of bungalows (built-ups from 4,500 sq ft; land area from 6,000 sq ft and prices from RM1 million), which are already 70% sold.
Directly adjacent to Seremban 2 is the 1,600-acre S2 Heights unveiled two years ago. "There is a demand for higher-end properties in Seremban. We sell at a premium in Seremban 2 compared to other areas in Seremban because of all the value-added facilities we put into the township. For instance, a semidee in Seremban 2 can be sold for RM480,000 compared with RM200,000 to RM300,000 in other areas in Seremban," says Soam. Prices there were RM110 psf 12 years ago but current prices can go up to RM200 psf.

Other states
In Johor, IJM's Nusa Duta homes in Iskandar Malaysia sit next to S P Setia's Bukit Indah. In Melaka city centre, construction is underway on a commercial complex to be leased to Jusco. In Sandakan, Sabah, the developer is building a 365-acre township called Bandar Utama.
Overseas, IJM is in a joint venture with Talam Corp Bhd, the landowner, to develop a RM500 million mixed development project in Changchun, China. The project is in the planning stages. The previous developer had completed up to five storeys of the serviced apartments, with retail outlets, when work stopped. "We went in to take a 50% stake to continue the project after evaluating its potential. We do not think we can go wrong when we are a few doors away from Shangri-la Hotel in the city centre. So, we resubmitted plans which are not much different from the original ones," says Soam.
He adds that the project's tentative launch next year will rest on market conditions.

SH_PG

October 10th, 2008, 04:40 AM

localboy

October 10th, 2008, 08:00 AM

I have heard so much comment on the developement on reclaim land. Heard that the land in Gold coast Penang which was reclaimed is now lower than at first.

I guess that Penang don't have large piece of land anymore in the Island. The light is a nice project. Since there will be no more big project in PGCC, I guess that we can only look forward to the light

I guess it is true that most people don't like tall buildings built in reclaim land. I guess that the demand will be lower. Too bad PGCC project have been cancelled. The state government should stop the reclaiming of land for development. I have seen mud along the seafront opposite EGate. The reclaiming of land have cause damage to the environment.

patchay

October 11th, 2008, 11:42 AM

I mean if the land reclaim is done properly nothing will go wrong. And the project started before the change of government. The good thing is this developer is a major and a reputable one. I've high hopes that this project will bring enormous benefits to Penang.

rizalhakim

November 10th, 2008, 06:52 AM

IJM Land banks on niche projects
By ANGIE NG
angie@thestar.com.my

WITH a number of lifestyle residential projects in its stable, IJM Land Bhd can look forward to riding out the current soft property market by focusing on its niche projects in Kuala Lumpur, Penang and Johor Baru.

For the financial year ending March 31, 2009 (FY09), the company expects to maintain sales at around RM800mil to RM900mil, especially from new project launches in Penang and Johor Baru, and ongoing developments in Kuala Lumpur and the Klang Valley.

Sales hit RM1bil for FY08.

Unless the market takes a turn for the worse, IJM Land is looking at 20 new project launches worth a total gross development value (GDV) of close to RM1bil over the next 12 months.

Managing director Datuk Soam Heng Choon said the market slowdown had affected mainly the mass market and lower product segments while the medium-high to high-end sector was still showing potential.

“We will focus on medium, medium-high and high-end products that are priced from RM300,000 to RM7.2mil a unit in good locations,” Soam said.

IJM Land now has more than 60 projects in various parts of the country and is reviewing the launches.

He said should conditions deteriorate, “there is a possibility of holding back some of the projects, which may also include the high priced products if demand falls.”

http://biz.thestar.com.my/archives/2008/11/10/business/b_p12ampersand.jpg
An artist’s impression of the Ampersand@ Kia Peng

Soam expects the sales of the medium high-end and high-end properties to mitigate the margin squeeze in the lower-end product segment.

He said one of IJM Land’s strengths was having a broad product range in a geographically diversified market across the country.

“This allows the company the flexibility to tweak its product mix and product specifications to suit the current market conditions.

“We have also been prudent in ensuring our projects are located in prime locations and this has kept our projects in the radar screen of buyers, especially those looking for premier properties,” he pointed out.

Being low-rise and low density, Ampersand located in the highly sought after address in Jalan Kia Peng, Kuala Lumpur, stands out among the other high-rise condominium developments in the Kuala Lumpur City Centre (KLCC) area.

http://biz.thestar.com.my/archives/2008/11/10/business/b_p12TheLight.jpg
An artist’s impression of The Light

The 71 luxurious apartments with built up of 3,000 sq ft to 5,800 sq ft are priced from RM3mil to RM7.2mil, or an average price of RM1,200 per sq ft.

The price has almost doubled from the time when the project was first launched early last year. About 50% of the units have been sold to-date and the project will be completed next year.

In Penang, the maiden launch of IJM Land’s flagship project, The Light will take place in the first quarter next year.

The first residential project called The Light Linear to be launched in the first quarter will have a GDV of RM150mil while Light Point with a GDV of RM90mil will be launched few weeks after that.

The Light Linear will have 328 units with built-up from 1,379 to 1,513 sq ft, while the more spacious The Light Point units are from 1,807 to 4,000 sq ft.

The Light, a RM4.5bil residential and commercial development on Penang islands’ eastern coastline, will be developed over 12 years.

The residential precinct will have 1,186 residences, including waterfront villas and condominiums.

The commercial precinct will comprise office buildings, four hotels, retail malls, dining and entertainment facilities, a seafront park, floating restaurants and facilities for meetings, incentives, conventions and exhibitions.

In Johor Baru, IJM Land is planning to launch its latest development, Nusa Duta on 127 acres in the Iskandar Development Region by the first half of next year. The RM320mil project will comprise mainly landed properties that are priced from RM300,000.

To tap the foreign market, Soam said IJM Land was also resorting to marketing its high-end residences to participants of Malaysia My Second Home programme.

The maiden event was undertaken recently in Seoul to promote the Pearl Regency project to South Korean buyers.

“There is still good interest for quality Malaysian residential products among the Koreans and we plan to promote some of our other projects there in future,” he added.

Soam said property roadshows would also be held in the Middle Eat and Japan next year.

built_in_me

November 29th, 2008, 06:46 PM

nice...........

built_in_me

December 3rd, 2008, 02:33 PM

THE LIGHT

The Light Linear
http://img514.imageshack.us/img514/9458/thelightlineargr8.jpg (http://imageshack.us)
http://img514.imageshack.us/img514/thelightlineargr8.jpg/1/w564.png (http://g.imageshack.us/img514/thelightlineargr8.jpg/1/)

The Light Point
http://img150.imageshack.us/img150/7669/thelightpointpy1.jpg (http://imageshack.us)
http://img150.imageshack.us/img150/thelightpointpy1.jpg/1/w355.png (http://g.imageshack.us/img150/thelightpointpy1.jpg/1/)

The Light Collection 1
http://img514.imageshack.us/img514/3484/thelightcollection1go4.jpg (http://imageshack.us)
http://img514.imageshack.us/img514/thelightcollection1go4.jpg/1/w604.png (http://g.imageshack.us/img514/thelightcollection1go4.jpg/1/)

The Light Collection 2
http://img514.imageshack.us/img514/8476/thelightcollection2em8.jpg (http://imageshack.us)
http://img514.imageshack.us/img514/thelightcollection2em8.jpg/1/w604.png (http://g.imageshack.us/img514/thelightcollection2em8.jpg/1/)

The Light Collection 3
http://img388.imageshack.us/img388/8430/thelightcollection3mf4.jpg (http://imageshack.us)
http://img388.imageshack.us/img388/thelightcollection3mf4.jpg/1/w602.png (http://g.imageshack.us/img388/thelightcollection3mf4.jpg/1/)

The Light Collection 4
http://img150.imageshack.us/img150/32/thelightcollection4jp1.jpg (http://imageshack.us)
http://img150.imageshack.us/img150/thelightcollection4jp1.jpg/1/w604.png (http://g.imageshack.us/img150/thelightcollection4jp1.jpg/1/)

Riverofmoltensteel

December 3rd, 2008, 09:54 PM

^^ The phase 1 part is rather simple looking (besides the light point), and well the "Light Linear" reminds me of a college hostel. Must be the architects leftovers :lol:

skye.soo

December 4th, 2008, 06:11 AM

the concepts of seaward residential are so impressive... i love them!
i wonder how's they going to solve the seaside pollution problem,
i just feel fear to imagine those sampah floating here and there in front of the high-end bungalows...

nazrey

December 16th, 2008, 06:55 PM

photos by @Dmateur from flickr

http://farm4.static.flickr.com/3146/2601116750_0ffed1cbca_b.jpg
http://farm4.static.flickr.com/3052/2600276773_fc5ef28889_b.jpg

by Melvin Chia

http://farm4.static.flickr.com/3027/3113218784_a658baa28d_b.jpg

nazrey

December 16th, 2008, 07:02 PM

by Melvin Chia

http://farm4.static.flickr.com/3030/3113216388_d8144812ac_b.jpg

rizalhakim

December 17th, 2008, 04:20 AM

this is by far the best project in penang....

Geminian

December 18th, 2008, 02:04 PM

Imagine after this project finished, you are driving towards Penang on the bridge at night and The Light was glowing and growing before your eyes.That is so perfect

rizalhakim

January 21st, 2009, 11:01 AM

rizalhakim

April 7th, 2009, 09:35 AM

RM2bil projects to be launched

Penang to see new development year-round

http://3.bp.blogspot.com/_BWQmSsODfo8/Sc4kbZiZ2bI/AAAAAAAAFY8/h31RINeRasA/s400/IJM+Light+Point.jpg
An artist’s impression of the IJM’s Light Point project along the Jelutong Expressway.

KUALA LUMPUR-BASED developers will execute projects with an estimated gross sales value of RM2bil on Penang island this year despite a challenging economic climate and price the new products competitively.

IJM Land Bhd, for example, is launching projects with estimated gross sales value (GSV) of RM350mil in the second and third quarter of 2009.

These are high-end sea-fronting projects comprising the RM200mil Light Linear, RM102mil Light Point, and the RM48mil Lots 28 located near the Jelutong Expressway.

The Light Linear consists of two 17-storey block of 328 condominiums on a 7.6 acre land, while the Light Point is a 28-storey block of 88 condominiums on a 2.8 acre site, and Lots 28 comprises 28 units of two and three-storey commercial and shop offices on a 2.6 acre site.

Pricing new property launches competitively does not mean lowering the selling price.

IJM Land Bhd managing director Datuk Soam Heng Choon says the group’s new properties would be priced competitively to reflect current construction cost, which in reality was still above the pre-July 2008 level.

“In reality, prices of construction materials are still high, with the exception of steel bars.

“To reduce the price further means to go for lower specification and finishes. “However, the flexible loan packages and other incentives thrown in by the developer will make the properties more affordable,” he says.

Soam adds that the group recently launched the RM174mil Summer Place condominium project, located at the Jelutong Expressway.

“About 40% of the 531 condominiums in Summer Place was taken up on the first two days of the recent soft launch,” he says.

C P Group is implementing its RM300mil BayVillas water project at the end of 2009 for its RM2bil Queensbay project in Bayan Lepas.

Its executive chairman Datuk Tan Chew Piau says the BayVillas comprises 76 waterfront bungalows, waterfront gardens, and garden villas, equipped with built-up areas ranging between 3,100 sq ft and 10,000 sq ft.

The entire project is guarded and has private swimming pool facilities and smart home features.

Tan says the group’s 335-room, Eastin Hotel located in Queensbay, will come on by the end of 2009.

“This will be the second hotel operating under the Eastin brand name,” he says.

Tan adds that the group is holding back the commercial project, BayCapital office suites, scheduled for launching in mid-2008, after the country succumbed to the global economic recession.

To date, CP Group has generated about RM600mil from the sales of its properties in Queensbay.

The largest project to take off the island this year comes from Mah Sing Group Bhd, which expects to launch its RM1.35bil Southbay Penang by mid-2009.

Group managing director and chief executive Datuk Seri Leong Hoy Kum says that the launch of the project would coincide with the completion of Southbay Penang’s showhouses.

Leong says the Southbay Penang had to date attracted more than 3,000 prospective buyers of which 70% had registered their interest for Residence@Southbay’s superlink homes, and the rest registered their interest for Legenda@Southbay’s designer bungalows and Southbay City, the commercial precincts.

On the prices of Southbay Penang’s properties, Leong says the early registrants would still enjoy the old prices they signed up.

“We will not lower the prices but we will make it easier for buyers to own properties through our Easy Home Ownership scheme which has been very well received.

The Southbay Penang, comprising 376 units of landed residential properties and an integrated commercial hub, is scheduled for completion within seven years.

rizalhakim

April 9th, 2009, 04:47 AM

The Light Linear

http://img187.imageshack.us/img187/4662/lightlinear.jpg

http://img21.imageshack.us/img21/9721/lightlinear5.jpg

Light Linear @ The Light Waterfront situated along the eastern coastline of Penang Island. Just 10 minutes away from Georgetown via Jelutong Expressway and a stone throw away from the Penang Bridge.

Light Linear consists of two 17-storey condominium blocks and has a total of 328 units. These seaview condominiums has a spacious built-up area approximately 1,500 sqft.

Location : along Coastal Highway, The Light Waterfront Penang
Property Type : Condominium
Built-up Area : approx. 1,475 - 1,561 sq.ft.
Total Units : 328
Developer : IJM Land

http://img301.imageshack.us/img301/4467/lightlinear3.jpg

http://img21.imageshack.us/img21/1808/lightlinear4.jpg

rizalhakim

May 6th, 2009, 05:05 AM

The RM5.2bil Light project to shine on IJM Land
By ANGIE NG

Waterfront development set to boost earnings

PETALING JAYA: IJM Land Bhd should see a boost in income with the launch of its flagship project, The Light Waterfront Penang, in the third quarter, analysts said.

The project has an estimated gross development value (GDV) of RM5.2bil. It has been scheduled for launch in the first quarter but was deferred when the property market softened under the pressure of the global recession.

Located on 61.5ha just off the Penang Bridge on the eastern coastline of Penang island, it will be developed in three phases over 12 years.

AmResearch said with the launch of The Light project, IJM Land’s three-year earnings compounded annual growth rate would be strong at 49% over financial years ending March 31, 2010 to 2012.

“The company’s annual sales are expected to rise from RM750mil in FY10 with the maiden launch of The Light Linear and The Light Point to more than RM1bil in FY11 with the launch of The Light Collection low-rise residences and sea-front bungalows,” it said in a report.

http://biz.thestar.com.my/archives/2009/5/6/business/p4-Thelight.JPG
An artist’s impression of The Light Waterfront Penang residential precinct

The research house’s earnings estimates are underpinned by unbilled sales of RM700mil and sales of IJM Land’s existing projects, including Seremban 2, S2 Heights, Taman Perling and Bandar Utama Sandakan.

The freehold integrated waterfront residential and commercial development of The Light will comprise 1,177 residences, including waterfront villas and condominiums.

The first phase of the residential series will be The Light Linear, comprising 328 units with built-up from 1,475 to 1,539 sq ft. With prices at around RM400 per sq ft, this phase will have a GDV of RM200mil.

The next phase, The Light Point, offers 88 condominium units with built-up from 1,830 to 4,090 sq ft at a GDV of RM100mil.

Priced around RM500 per sq ft, or an average of RM1mil a unit, the condos will have sweeping views of the Penang Bridge, the marina and George Town city.

Subsequent phases will be The Light Collection with GDV of RM600mil and sea-front bungalows worth RM300mil.

According to IJM Land managing director Datuk Soam Heng Choon, The Light represents the company’s initiative to showcase the best in integrated seafront living with residential, entertainment, business and hospitality in one dynamic hub.

For the project’s construction, IJM Land will leverage on its parent IJM Corp Bhd’s construction expertise.

IJM Corp is a contractor for several high-end condominium projects in the Kuala Lumpur City Centre (KLCC) area such as The Binjai and Commerce Asset’s headquarters in Jalan Raja Laut.

In its report, AmResearch said IJM Land had the attributes of a blue-chip proxy to the listed property sector.

This is given the potential enlargement of its market capitalisation and gradual improvement in its free float from future placements by parent IJM Corp.

“We understand from management that IJM Corp plans to gradually trim its holding in the property vehicle to 60% from the current 77% to promote greater institutional shareholding,” it said.

It added that the move would promote greater trading liquidity in IJM Land’s shares.

Also planned for launch in the third quarter is the Nusa Duta development on 127 acres in Iskandar Malaysia, Johor.

The RM320mil project will comprise mainly landed properties priced from RM300,000.

nazrey

June 10th, 2009, 07:39 AM

http://biz.thestar.com.my/archives/2009/5/6/business/p4-Thelight.JPG

Progressing:

http://farm4.static.flickr.com/3562/3575810618_32ce8dd72f_o.jpg

roberttan98

June 10th, 2009, 11:20 AM

When is IJM going to launch this project?

rizalhakim

June 10th, 2009, 11:41 AM

wow dats cool!!!!

nazrey

June 29th, 2009, 07:11 PM

From www.veritas.com.my

http://www.veritas.com.my/newsletter/Website%20Newsletter/May%202009/04.jpg

Cakapcakap

June 30th, 2009, 07:36 AM

When is IJM going to launch this project?

July 2009

nazrey

July 4th, 2009, 07:26 AM

Surge in luxury condo launches
Saturday July 4, 2009
By DAVID TAN

http://star-space.com/archives/2009/7/4/pnews/b_13property.jpg

(Clockwise from top left) Artist impressions of the Pavilion Tower by Tropical
Hill Property, infinity swimming pool inside the Pavilion Tower, and IJM Land’s
the Light Linear and the Light Point

GEORGE TOWN: More than 600 high-end condominiums will be launched on Penang island before the year-end.

Although local property prices have not been significantly affected, the volume of transactions has dropped slightly since January.

At present, landed properties in Penang are still holding firm at RM600,000 to RM700,000.

Mid-end high-rise properties are still priced between RM300,000 and RM400,000 for a 1,000-sq-ft unit, depending on their size and location.

Henry Butcher Malaysia (Penang) vice-president Shawn Ong said to bolster sales during the current challenging property climate, zero interest financing packages introduced for purchasers by developers have worked quite well.

“The latest residential product is the ‘mini superb condominium’.

“It is dubbed ‘mini superb condo’ because of its size but they offer five-star facilities like normal super-condo projects.

“Prices range between RM500,000 and RM1mil, depending on their size, location, design, concept, and specifications,” Ong said.

The normal super condos are priced from RM2mil, have built-up areas of over 5,000 sq ft, and are located in prime locations such as Gurney Drive, Pulau Tikus and Tanjung Bungah.

Market prices for such properties on Penang Island had generally remained stable, Ong added.

“The up-market high-rise residential development trend on Penang Island has changed over time. Initially, these developments were more prevalent in the north-western and north-eastern parts of the island such as Pulau Tikus, Gurney Drive, Tanjung Tokong and Tanjung Bungah areas.

“However, due to the availability of relatively lower priced land, good population catchments and better accessibility (improved infrastructure), the focus moved towards the south of island, for example, along and off the Jelutong Expressway, Sungai Nibong, Bayan Lepas Expressway, and Bukit Jambul areas,” he said.

Ong said the demand for “mini superb condos” was expected to be encouraging given the sizeable young population in Penang and the higher household formation rate compared with the population growth.

“Affordability is today supported by low interest rates and the innovative easy payment schemes provided by developers.

“Investment interest in real estate is high given that alternative investments are less attractive today.

“Since the island has limited suitable land for development, most investors and house buyers are confident in the longer-term growth potential of such value-added residential properties,” he added.

Scheduled for launch by year-end are 568 mini superb condos by IJM Land Bhd’s The Light project, comprising The Light Linear, The Light Point, and The Light Collections schemes, located on a 16.8-ha freehold site off the Jelutong Expressway.

IJM managing director Datuk Soam Heng Choon said The Light would offer unique themes and facilities normally found in super-condo projects.

“The Light Linear project comes with fibre optic ICT infrastructure and a comprehensive range of home automation and recreational facilities, including a putting green.

“The unique features are the green concept and water features in all the properties,” he added.

The Light Linear units have built-up areas of 1,475 and 1,561 sq ft and are priced from RM522,000, or about RM354 per sq ft.

The Light Point and The Light Collection residences offer bigger built-up areas ranging from 1,371 to 4,090 sq ft.

“Their pricing starts from slightly below RM1mil, which is still lower than the price of normal super-condo units,” Soam said.

Another Penang-based developer, Tropical Hill Property Sdn Bhd, is scheduled to launch its mini superb condo project late this year.

The 22-storey Pavilion Tower on a 1-ha site in Teluk Kumbar comprises a block of 99 units with built-up areas of between 1,600 and 5,000 sq ft.

Tropical Hill Property managing director Datuk Loh Geok Beng said the units would be priced at about RM300 per sq ft.

“The low-density project, located close to the Penang International Airport and the Penang Bridge, is equipped with full recreational facilities including a swimming pool and community hall that can accommodate 500 people,” he said.

http://img514.imageshack.us/img514/9458/thelightlineargr8.jpg

http://img150.imageshack.us/img150/32/thelightcollection4jp1.jpg

http://img150.imageshack.us/img150/7669/thelightpointpy1.jpg

rizalhakim

July 4th, 2009, 04:12 PM

^^the Pavilion Tower not under The Light waterfront....difnt project by dift developer!!

nazrey

July 4th, 2009, 04:29 PM

of coz la! they just put the rendering of Pavilion Tower in the same project of the Light above! heheh!

rizalhakim

July 7th, 2009, 05:09 AM

there's a minor changes in the light linear condo huh...

rizalhakim

July 8th, 2009, 10:34 AM

http://farm3.static.flickr.com/2584/3697540400_18de7eca22_b.jpg

rizalhakim

July 11th, 2009, 04:00 AM

Developers keen to resume launches
By SHANNEN WONG

HIGH-end property developers are expected to resume their project launches in the coming months aided by strong take-up in the first half of the year and more positive outlook in the economic front.

At least two luxurious residences in Kuala Lumpur and five high-end residential projects in Penang will be unveiled soon. (See table)

“Given the warm response for some of the recent project launches, we understand more developers are planning to launch their high-end properties in Kuala Lumpur and Penang in second half of the year,” says HwangDBS Vickers Research analyst Yee Mei Hui.

Developers are now more confident about resuming launches than focusing on clearing inventories previously.

“We believe that the good response from the properties buyers is an indication that demand for high-end has started to return,” says Yee.

She says while there would be a large incoming supply of high-end condominiums, especially around the KLCC and Mont’ Kiara areas, over the next two years, these new launches generally have lower entry prices due to smaller built-ups and the availability of attractive housing loan packages, says Yee.

“These new launches offer attractive financing schemes such as low down-payments and minimal cash outflow up to two years until the property’s delivery,” she adds.

DNP Bhd will be launching Verticas Residensi condominiums in Bukit Ceylon in Kuala Lumpur priced at RM970 per sq ft.

There will also be the release of 163 high-end serviced apartments for RM1,300 to RM1,400 psf for semi-furnished completed units by the previous en-bloc buyer of Pavilion Residences Tower A.

In Penang, Eastern & Oriental Bhd (E&O) is expected to launch its Seri Tanjung Pinang high-end linked houses, serviced apartments and condominiums these few months.

“We understand E&O is looking to launch its Seri Tanjung Pinang high-end condominiums in September to October at RM600 to RM700 psf,” says Yee.

“It is also planning to launch the second block of the St Mary high-end serviced apartments at RM1,200 psf via international road shows starting in September,” she says.

When contacted by StarBizWeek, an official from E&O says the company will be making announcements on the official launches of its St Mary project within the next few weeks.

IJM Land Bhd will also be launching two of its projects in Penang, namely the Light Linear upper-mid condominiums located near the Jelutong Expressway, and Light Point high-end condominiums later this month and in October respectively.

E&O’s maiden launch of 169 units of St Mary residences in June, the first high-end launch since the fourth quarter of last year, saw a strong 80% take-up rate after a recent five-day preview.

“The sales were above the market’s expectations,” says Yee, noting that buyers were predominantly locals who bought mainly for investment purposes.

Located within the golden triangle district in KL, St Mary Residences were sold at an average price of RM900 psf.

Sky Residences

SP Setia Bhd will be launching its first luxury high-rise residential project, Sky Residences on Jalan Tun Razak, tomorrow.

The sale preview of SP Setia Sky Residences Tower B kicked off last September but were only opened for sale in January this year, in conjunction with the launch of its 5/95 home loan package.

“Close to 95% of our units in Tower B have been taken up. We are now previewing Tower A and will officially open it for sale tomorrow,” says president and chief executive officer Tan Sri Liew Kee Sin.

“This will be the group’s final official launch before the end of the 5/95 programme,” he says.

Given the strong bookings it has on hands, Liew says SP Setia is unlikely to extend its incentive schemes beyond this month.

“We will stop launching any more new products for a few months and concentrate on delivering what had already been sold,” he says.

SP Setia, the largest developer by market capitalisation and sales, has been offering 5/95 home loan package and no interest payments during construction since January to give a boost to the company’s sales.

As of 30 June, SP Setia sales touched RM1.04bil, close to its full-year target of RM1.1bil for financial year ending Oct 31, 2009.

SP Setia has cash reserves of RM551mil and a net gearing of 0.23 times.

Sunrise bookings

Niche high-end developer Sunrise Bhd is among the developers who have benefited from the introduction of attractive incentive schemes.

“Our new bookings have soared to over RM242mil for Mont’ Kiara 11 condominiums and Residence bungalows from our promotion for both projects from March to June this year,” says an official of the company.

Mont’ Kiara 11 residences and the Residence bungalows are priced at an average selling price of RM850 psf and from RM5mil each respectively.

Following the introduction of the 10/90 financing schemes and zero payment up to two years of delivery promotion, Sunrise’s bookings have picked up since mid-March.

In fact, the collective sales for both projects within the first month of promotion have been catching up on its cumulative sales of RM247mil for the first nine months.

Yee of HwangDBS says about 47% of the company’s RM965mil unbilled sales (excluding the new bookings of RM242mil) will deplete by this year-end with the completion of Mont’ Kiara 10 and Solaris Dutamas.

“Sunrise needs to launch new projects in order to replenish its unbilled sales,” she says.

In response to this, the company’s spokesperson says, “It’s too premature to say when we will have our next launch. We are watching the economy right now.”

“Nonetheless, we have comfortable gearing, ample landbank and a pipeline of new projects to be launched, depending on market conditions.”

Sunrise, the largest prime landowner in Mont’ Kiara, is expected to launch its RM732mil Mont’ Kiara 28 condominiums with selling price of RM670 psf in early 2010.

Other launches in the pipeline are its Mont’ Kiara 20 mixed development and Lot 121 Solaris Office Tower. The former has a gross development (GDV) of RM767mil while the latter has a GDV of RM455mil. Both projects has an average selling price of RM700 psf.

Meanwhile, Sunrise will also have RM336mil of completed properties available for sale, which will underpin its earnings until end-2011, says Yee.

On the outlook for the company, the spokesperson says, “The outlook ahead will remain challenging. Much will depend on the strength of the recovery. But the worst is behind us.”

He says the low interest rates and the lack of new launches over the past year as well as the expectation of rising inflation will underpin property demand in the near future.

Legenda@Southbay

Mah Sing Group Bhd managing director and group chief executive Tan Sri Leong Hoy Kum says the company hopes to bring forward the soft launch of its Legenda@Southbay in Penang to the second half of this year.

“We have not held back any launches due to the strong take-up for our products. In fact, we may bring forward some launches,” he says.

The group plans a soft launch of the first 15 units of its Legenda@ Southbay bungalows with some GDV of RM30mil sometime in the second half. The whole project consists of 76 units with total GDV of RM284mil.

“We are looking to bring forward the launches of our Legenda@Southbay due to the overwhelming response for our three-storey super link project Residence@Southbay,” he says.

To date, Mah Sing has sold about 89% of its launched units in Residence@Southbay. Since its launch in May, it registered cumulative sales of 177 units valued at RM149.15mil.

“We have exceeded our 2009 sales target for this project by 60%, and this boosted our confidence that the market in Penang is receptive to our product concept and value proposition,” says Leong.

For the first half, Mah Sing launched seven property projects worth RM315mil, meeting 80% of the company’s full-year launch target of RM394mil.

Leong says the company has achieved approximately 70% of its full-year sales target of RM453mil within the first half of the year.

nazrey

July 22nd, 2009, 04:37 AM

Penang group secures RM2bil in building material contracts
Wednesday July 22, 2009
By DAVID TAN

GEORGE TOWN: Over RM2bil worth of contracts to supply building materials have been secured by about half of the Penang Master Builders and Building Materials Dealers Association’s (PMBBMDA) 117 members so far this year.

President Finn Choong said the materials included essential building blocks such as steel, cement and other aggregates for residential projects in Penang.

“These contracts do not include materials for interior decoration. They only involve PMBBMDA members,” Choong told StarBiz.

Works on the second Penang bridge did not require raw materials from its members at the moment, he said.

He added that the bridge will require supplies from our members when the piling and concrete works begin.

“The contracts to supply materials such as steel, cement, crusher run and premixed bitumen (for the bridge) should be worth a further RM1bil.”

Meanwhile, PMBBMDA secretary Ong Soo Yong said the forthcoming commercial and residential projects, such as the First Avenue Shopping Mall, Cititel Express and IJM’s The Light Linear, should generate demand for interior finishing products from local building material suppliers.

“The Kuala Lumpur-based developers in Penang tend to source essential building blocks from suppliers in Kuala Lumpur and not from our members.

“For such projects, our members can look forward to supplying interior finishings,” he said.

szehoong

July 22nd, 2009, 11:03 PM

Hey I got an invite for the launch on 1st August 2009 at Menara IJM Land. So yea....they are launching it soon but too bad I can't make it as it is in Penang :(

nazri

July 28th, 2009, 07:51 AM

Nice progress! :banana:
by stardex
http://www.flickr.com/photos/stardex/3760196560/

http://www.picamatic.com/show/2009/07/28/09/51/4615268_497x368.JPG

rizalhakim

August 3rd, 2009, 04:28 AM

The Light Phase 2

http://farm3.static.flickr.com/2545/3776884008_f3491c4613_o.jpg

nice!!

Kim2009

August 3rd, 2009, 08:41 AM

Good project but will there be buyers for the project? I heard that IJM is very good at pushing up the condo/apartment project. They will tell you that it is sold out but later sell them at a much higher price.

rizalhakim

August 4th, 2009, 05:17 AM

http://biz.thestar.com.my/archives/2009/8/4/business/p4-propertycht.JPG

En bloc buyers also snapped up 93% of non-bumiputra units launched (last month) at IJM Land Bhd’s Light Linear project in Penang.

http://biz.thestar.com.my/news/story.asp?file=/2009/8/4/business/4447708&sec=business

rizalhakim

August 6th, 2009, 08:38 AM

IJM Land may raise LIGHT properties’ selling prices
Written by Financial Daily
Thursday, 06 August 2009 12:48

IJM Land Bhd may raise selling prices for PROPERTIES under its RM6.5 billion “LIGHT Waterfront Penang” mixed development against a backdrop of improving consumer sentiment as the job market improves in the island state, said RHB Research.

“This is not a surprise to us given its unique status as one of the rare waterfront developments in Malaysia as well as its strategic location.

“It is positive to the LIGHT project as strong sales recorded will boost investors’ confidence on the whole project and eventually increase the company’s bargaining power (and hence, the gross development value for the project),” it wrote in a note yesterday.

The LIGHT Waterfront Penang is located on a 60.8ha site near the Penang Bridge within the eastern coastline enclave of Penang island. According to IJM Land’s website, the project comprises three phases which include residential and office units, besides retail and hotel components.

Phase one, an entirely-residential initiative comprises “The Light Linear”, “The Light Point” and “The Light Collection”.

According to RHB, by virtue of the strong sales seen in The Light Linear, IJM Land may increase the initial selling price for The Light Point condominiums by up to 20% to some RM600 per sq ft from RM500 per sq ft. These high-rise units have built-up areas of between 1,800 sq ft and 4,000 sq ft.

“However, we reckon that the selling price could potentially hit RM700 per sq ft given that E&O Property Development Bhd’s Seri Tanjung Pinang serviced suites are currently selling at about RM780 per sq ft ,” said RHB which kept its earnings estimates for IJM Land in financial years ending March 2010 till 2012, pending further details on the final selling price for properties under the project.

The research house’s fair value of RM2.10, and outperform rating for the stock were also unchanged.

IJM Land shares fell three sen to close at RM1.68 yesterday.

rizalhakim

August 10th, 2009, 08:10 AM

IJM sasar jualan RM800 juta

Oleh cynthia yeoh
cynthia.yeoh@utusan.com.my

PETALING JAYA 9 Ogos - Pemaju hartanah terbesar di Malaysia, IJM Land Bhd. (IJM Land) menyasarkan jualan hartanah sebanyak RM800 juta bagi tahun kewangan berakhir 31 Mac 2010 melalui pelancaran projek baru dan sedia adanya.

IJM Land juga menyasarkan untuk melaksanakan dengan nilai pembangunan kasar (GDV) berjumlah RM20 bilion bagi tempoh 20 tahun melalui bank tanahnya seluas 2,832.79 hektar.

Lokasi utama bank tanah yang dimiliki syarikat itu meliputi hampir seluruh negara iaitu di Pulau Pinang, Perak, Lembah Klang, Negeri Sembilan, Melaka, Johor, Sabah dan Sarawak.

Pengarah Urusannya, Datuk Soam Heng Choon berkata, prestasi ekonomi yang menyaksikan pemulihan secara beransur-ansur sedikit sebanyak mengubah sentimen pengguna untuk melabur dalam hartanah.

"Keadaan ekonomi semasa tidak akan menghalang kami memajukan lebih banyak projek untuk dilancarkan, tetapi sebaliknya kami perlu lebih agresif dan bersedia supaya sesuatu projek dapat dilaksanakan dengan segera apabila ekonomi kembali pulih," katanya kepada Utusan Malaysia, di sini.

Menurut Heng Choon, sekarang adalah masa yang tepat untuk membeli hartanah kerana kos pembiayaan berada di paras terendah dengan ekonomi negara diibaratkan berada dalam rejim 'kadar faedah negatif'.

Sehubungan itu, IJM Land telah melanjutkan tempoh pelan pemilikan rumah, My Space Plan selama tiga bulan mulai 1 Julai lalu hingga 30 September ini.

Pelan yang membantu bakal pembeli memilih serta memiliki hartanah yang bersesuaian berdasarkan peruntukan belanjawan mereka mendapat sambutan yang menggalakkan, ujar beliau.

"Sejak kebelakangan ini, kami telah menyaksikan keyakinan pembeli bertambah apabila mula kembali ke pasaran hartanah dan bagi mereka yang terlepas peluang sebelum ini, ini adalah masa untuk berebut peluang sedia ada," jelasnya.

Heng Choon berkata, sepanjang tempoh pelan itu, IJM Land menawarkan pelbagai insentif termasuk bayaran pendahuluan bermula dari RM500 dan rebat tunai sehingga 10 peratus.

"Pelanggan juga dapat menikmati insentif tambahan bagi produk yang spesifik selain tawaran yang sedia ada seperti kadar faedah rendah bagi skim bayaran 5:95, jaminan balik tunai, faedah pinjaman sifar peratus semasa pembinaan, skim bayaran mudah dan lain-lain," jelas beliau.

Beliau menjangka jualan hartanah bagi tempoh tiga bulan tersebut mencecah RM250 juta bersandarkan sasaran yang ditetapkan iaitu antara RM200 juta hingga RM250 juta, sebelum ini telah tercapai.

Serentak dengan itu, kata beliau, IJM Land juga bercadang melancarkan beberapa projek hartanah bernilai antara RM700 juta hingga RM750 juta bagi tahun kewangan berakhir 31 Mac 2010.

Antara projek yang akan dilancarkan ialah projek pembangunan kediaman Nusa Duta di Johor dan The Light Linear bernilai RM200 juta yang terletak dalam projek lebih besar The Light di Pulau Pinang.

Projek Nusa Duta yang mempunyai kos pembangunan RM320 juta dijual pada harga RM300,000 sebuah. Ia melibatkan pembinaan 190 hartanah di atas kawasan seluas 51.4 hektar terletak di antara Taman Perling dan Taman Nusa Bestari di Johor Bahru.

Beliau menjelaskan, kerja-kerja pembinaan bagi projek berkenaan sedang dilaksanakan dan dijangka siap dalam tempoh antara empat hingga lima tahun ini.

Sementara itu, katanya, The Light Linear yang terdiri daripada dua blok kondominium dengan 328 buah unit dijual pada harga kira-kira RM400 sekaki persegi akan siap dalam tempoh tiga tahun lagi.

"Kerja-kerja penambakan tanah bagi projek yang menghadap laut sudah selesai dan pemasangan cerucuk besi sedang dilakukan," ujarnya.

Mengulas perkembangan projek Canal City di Kuala Langat, Selangor, beliau berkata, perundingan semula dengan kerajaan negeri Selangor akan diadakan sebelum projek itu dilaksanakan dengan harapan segala-galanya dapat dimuktamadkan menjelang tahun depan.

Heng Choon berkata, pihaknya juga merancang untuk memajukan projek bercampur termasuk pangsapuri sederhana mewah bernilai RM500 juta di Changchun, China.

Beliau berkata, projek berkenaan masih di peringkat perancangan dan kerja-kerja pembinaan dijangka bermula tahun depan.

Beliau berkata, China dipilih kerana mempunyai pasaran yang berpotensi selain mempunyai kedudukan yang strategik.

Selain China, katanya, IJM Land turut merancang untuk mengembangkan operasi di Vietnam.

"Ini kerana kami telah mengenali pasaran di negara itu berikutan projek air yang dikendalikan oleh syarikat induk kami, IJM Corporation," katanya.

nazrey

August 30th, 2009, 06:14 AM

Nice progress! :banana:
by stardex
http://www.flickr.com/photos/stardex/3760196560/

http://www.picamatic.com/show/2009/07/28/09/51/4615268_497x368.JPG

by seppyr
http://www.flickr.com/photos/seppyr/3864118137/

http://farm4.static.flickr.com/3523/3864118137_211d4aa831_b.jpg

nazrey

September 6th, 2009, 05:36 PM

From google

http://www.picamatic.com/show/2009/09/06/07/35/4985246_604x403.jpg

nazrey

October 17th, 2009, 12:13 AM

UPDATE:
THE LIGHT LINEAR
http://farm4.static.flickr.com/3505/4015915182_27281062a8_o.jpg

rizalhakim

November 1st, 2009, 10:30 AM

http://lh3.ggpht.com/_lk4hR8_XjC4/SGtleBUD8II/AAAAAAAAAgo/6RTe6D48BQc/The+Light+Waterfront.jpg

they change the design for commercial area..... not bad but still preferd ^^^^

rizalhakim

November 1st, 2009, 12:14 PM

ok guys i finally found da architect's website.... http://www.surbana.com
nice but the earlier proposal way much better than dis!!!....

AhChuan

November 1st, 2009, 07:52 PM

^^superb! Websites so cool~

rizalhakim

November 2nd, 2009, 07:09 AM

the new commercial area
http://farm3.static.flickr.com/2585/4067474856_a2811fd620_o.jpg

http://farm3.static.flickr.com/2522/4067474274_218d2c36cd_o.jpg

http://farm3.static.flickr.com/2770/4067474582_584ca161b6_o.jpg

http://farm3.static.flickr.com/2800/4067475420_6f74b508d4_o.jpg

http://farm3.static.flickr.com/2724/4067476150_564d8c5291_o.jpg

http://farm3.static.flickr.com/2623/4066724661_c694fbcb69_o.jpg

http://farm3.static.flickr.com/2774/4067478880_d742c41098_o.jpg

http://farm3.static.flickr.com/2762/4066726617_3d0e05c17a_o.jpg

http://farm3.static.flickr.com/2661/4067478528_0ecf0985d5_o.jpg

http://farm4.static.flickr.com/3533/4067476414_bbb971647c_o.jpg

http://farm3.static.flickr.com/2704/4067478128_2931190813_o.jpg

taken from
http://farm3.static.flickr.com/2471/4066741423_c8b7358abb_o.jpg
www.surbana.com

nazrey

November 2nd, 2009, 09:59 AM

the new commercial area
taken from
www.surbana.com

http://www.picamatic.com/show/2009/11/02/10/59/5737733_909x476.JPG

http://www.picamatic.com/show/2009/11/02/11/00/5737739_600x456.JPG

http://www.picamatic.com/show/2009/11/02/11/00/5737740_601x459.JPG

http://www.picamatic.com/show/2009/11/02/11/00/5737741_601x462.JPG

proud_penangite

November 2nd, 2009, 06:46 PM

gosh cant imagine those buildings in penang... better than pgcc!

rizalhakim

November 3rd, 2009, 05:40 AM

http://www.picamatic.com/show/2009/11/02/10/59/5737733_909x476.JPG

http://lh3.ggpht.com/_lk4hR8_XjC4/SGtleBUD8II/AAAAAAAAAgo/6RTe6D48BQc/The+Light+Waterfront.jpg
prefer dis ^^^^ but i dont mind the latest proposal juz dat da earlier proposal way much better!!! totally futuristic....

Venycal

November 4th, 2009, 12:43 AM

rizalhakim

November 4th, 2009, 03:51 AM

^^from architecture magazine... architecture@10 at any local bookstore.... rm100... the magazine is about new projects all around asia.... the best projects come from vietnam & dubai!!!

Venycal

November 4th, 2009, 05:45 AM

^^from architecture magazine... architecture@10 at any local bookstore.... rm100... the magazine is about new projects all around asia.... the best projects come from vietnam & dubai!!!
:uh: RM100 @.2
me bankrupt lo....
guess I will have to use my birthday money to buy the book.....

rizalhakim

December 21st, 2009, 05:41 AM

IJM’s The Light to launch second luxury condominium in Penang
By Rosalynn Poh of theedgeproperty.com
Thursday, 17 December 2009 15:51

http://www.theedgeproperty.com/images/stories/the_light_2.jpg
KUALA LUMPUR: IJM Land Bhd’s iconic waterfront project in Penang, known as The Light, will be launching its second luxury condominium within its first phase, The Light Point (picture), this Saturday (Dec 19). The Light, with a gross development value of RM5 billion, is situated just off the Penang Bridge on the island’s eastern coastline.

According to its website, there are at least three phases planned for The Light -- the first phase consisting of three residential projects called The Light Linear, The Light Point and The Light Collection, phase two comprises a mixed development including a hotel, corporate park, office towers and business hotel, fashion mall and waterfront dining and entertainment district. Its third phase, according to the master plan, is a sea front park.

IJM Land’s managing director Datuk Soam Heng Choon told theedgeproperty.com that The Light Linear condominium, also part of the first phase of The Light, was launched in July. “All non-bumiputra units for The Light Linear have been sold since our launch. There is a lot of interest for The Light Point, which we are launching this weekend,” he said. Soam said the average price of The Light Point is RM600 psf.

The Light Point will be made up of 88-units of condominiums with built-ups from 1,830 to 4,090 sq ft. As reported in The Edge’s City & Country on March 30, 2009, The Light Point will consist of a 28-storey luxury condominium block, with only four units to a floor. The Light Linear, on the other hand, comprises two blocks of 17-storey condominiums with 328 units.

The whole waterfront project spans a total of 152-acres and will be developed over the next 12 to 15 years via Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd.

rizalhakim

December 22nd, 2009, 11:27 AM

IJM’s The Light Point records 70% take-up
By Rosalynn Poh of theedgeproperty.com
Tuesday, 22 December 2009 11:57

http://www.theedgeproperty.com/images/stories/dsc_0208_500x335.jpg
Interested buyers of The Light Point registering for the balloting session on Dec 19.

KUALA LUMPUR: IJM Land Bhd’s The Light Point, its second luxury condominium project at the iconic waterfront development The Light in Penang has achieved 70% sales. More than 100 interested buyers participated in the balloting session for the project’s 88 units last Saturday Dec 19, 2009.
Situated just off the Penang Bridge on the island’s eastern coastline, The Light has a gross development value of RM5 billion.

IJM Land’s managing director Datuk Soam Heng Choon told theedgeproperty.com the average price for The Light Point units was RM620 psf.

“Buyers were mainly from Penang and we had some from Kuala Lumpur as well. There are mostly Bumiputera units left. The Light Point offers exclusivity, low density, three car parks per unit and many other attractive features,” he said.

The Light Point consists of 88 condominium units with built-ups from 1,830 to 4,090 sq ft. housed in a 28-storey tower with only four units to a floor.

IJM Land previously launched The Light Linear comprising two blocks of 17-storey condominiums with a total of 328 units, two car parks per unit at an average price of RM420 psf. Soam said The Light Linear is fully sold except for some of its bumiputra units.

The Light will be developed over three phases - the first phase consists of three residential projects - The Light Linear, The Light Point and The Light Collection. Phase two comprises a mixed development including a hotel, corporate park, office towers and business hotel, fashion mall and waterfront dining and entertainment district. Its third phase, according to the master plan, is a sea front park.

The whole waterfront project spans a total of 152-acres and is to be developed over the next 12 to 15 years via Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd.

The next launch for The Light would be The Light Collection I & II which is expected to be in 2Q2010.

dh maju dh

January 18th, 2010, 12:55 PM

any update pic??

rizalhakim

January 20th, 2010, 06:07 AM

The Light to brighten IJM sales prospects
By Marina EmmanuelPublished: 2010/01/20

PROPERTY developer IJM Land Bhd (5215) remains optimistic over demand for its Penang projects this year, as it continues to unveil new offerings within its "The Light" waterfront project on the island.

"The fact that our site is protected from tsunamis is yet another advantage," said its managing director Datuk Soam Heng Choon.

Several parts of Malaysia, including the islands of Penang and Langkawi, were hit by tidal waves, resulting from of an earthquake near Sumatra, Indonesia, in December 2004.

Soam said iconic landmarks such as a digital hub, boutique hotel and a convention centre will set The Light apart from other waterfront developments on the island.

The Light, which is a RM5.5 billion mixed development project, is being carried out on reclaimed land north of the Penang Bridge.

Phase 1, which sprawls over 16ha, comprises residential units and is expected to take six years to complete.

One component of this phase, which will set IJM apart from its competitors, is the 19 units of seafront designer bungalows tagged at RM15 million each.

The units are due to be launched by the end of next year.

The second phase encompasses 41.2ha and will take 15 years to be developed.

The project's The Light Linear condominiums, which were soft-launched in July last year, saw non-Bumiputera units sold out within the day.

"As for The Light Point luxury condos, which are due to be completed by December next year, about 65 per cent of the units have been sold since its soft launch last month," said Soam.

The Light Linear units, which are priced between RM522,000 and RM730,000, have been snapped up mostly by local buyers, he added.

"We are planning for overseas roadshows in Beijing, Shanghai, the Middle East and Singapore this year, and these will (focus) mainly on the second phase of The Light where we plan to target potential investors and en-bloc buyers."

ps5

January 20th, 2010, 07:37 AM

THE LIGHT (PHASE 2)

http://farm5.static.flickr.com/4048/4289275369_f0be0d99e6_b.jpg

dh maju dh

January 20th, 2010, 08:42 AM

THE LIGHT (PHASE 2)

http://farm5.static.flickr.com/4048/4289275369_f0be0d99e6_b.jpg

^^ woow....

rizalhakim

January 27th, 2010, 06:48 AM

cek out today's thestar
light point adv

28storey
88units
1.2mil - 3.3m
xpcted completion - jan 2013
5% bumi discount

04 296 1333

rizalhakim

January 31st, 2010, 11:03 PM

Green plans for IJM's The Light
By Marina EmmanuelPublished: 2010/02/01

Property developer IJM Land is putting about 5 per cent of the construction costs of the Penang waterfront project into green-related technologies

Property developer IJM Land Bhd's (5215) efforts in turning "The Light" waterfront project into Penang's first green development, will see the company putting about 5 per cent of its construction costs into green-related technologies.

Its managing director Datuk Soam Heng Choon said the company is fine-tuning basic design or passive design to cut its reliance on high-technology products for IJM Land's flagship waterfront development in Penang, which carries a development value of RM5.5 billion.

Among others, emphasis will be placed on tapping into natural lighting and cross-ventilation of buildings.

"Our first approach is to reduce materials usage for the project, rather than specifically source for recycled materials," he told Business Times.
Referring to the use of optic cables as an example, Soam said a single core of fibre optics would tremendously reduce a lot of copper cables and yet provide better quality of service to the occupants.

"However we are still sourcing for appropriate sustainable recycled materials for this project, where possible," he said.

Among the few green construction materials identified by IJM Land so far include recycled pavers and composite timber.

The Light, which serves as IJM Land's crown jewel, spans 60.8ha of reclaimed land along the eastern coastline of Penang island. The project stretches from the Penang Bridge to the city centre.

IJM Land is the property arm of IJM Corp Bhd, and is the result of a merger of IJM Properties Sdn Bhd and RB Land Holdings Bhd.

Phase one of The Light is a 16.8ha residential precinct which includes The Light Linear and The Light Point condominiums.

Both The Light Linear and Light Point will be built according to green standards.

Soam said IJM Land, which is working towards complying with Malaysia's Green Building Index (GBI) certification, said rainwater harvesting would be incorporated to reduce water consumption for landscape purposes.

"We also plan to provide a dedicated space for the recycling of household waste for all residents of The Light.

"Educational talks on recycling will be conducted regularly for residents and proceeds from the recycling programme can be donated to charitable organisations," he said.

Apart from using energy-saving lights and air-conditioners with built-in invertor technology in every unit in The Light, Soam said that a centralised vacumn system would be fitted in all units of The Light Point and The Light Collections to reduce the amount of airborne particles that might be reintroduced into the habitable space.

On the advantages of having these green-technology items installed in each unit, Soam said that the inverter air-conditioner, for instance, could help the user lower the power consumed by 60 per cent.

rizalhakim

January 31st, 2010, 11:04 PM

IJM project aims to rival other landmarks
By Marina EmmanuelPublished: 2010/02/01

IJM Land Bhd (5215), which serves as the property arm of IJM Corp Bhd, was the result of merging IJM Properties Sdn Bhd with RB Land Holdings Bhd.

As part of its greening mission with "The Light" waterfront project, IJM Corp seeks to tap the indigenous environmental elements which have contributed to the Penang essence, or Penang air, which the locals and foreign visitors love, seek and enjoy.

For The Light project, new trees will be planted and ample greenery integrated to create green zones that will enhance a visit to the site.

The RM5.5 billion project, to be developed over the next 12 to 15 years, has been designed to rival landmarks such as Canary Wharf in London, the UK; Docklands in Melbourne, Australia; and Queens Quay in Toronto, Canada.
The developer has appointed six Malaysian architectural firms to design the residential components in the first phase. The project will be developed over three phases.

Among the eco-friendly initiatives that will reportedly be carried out by IJM in developing The Light is the harvesting of coral reefs in the waterways that will be built around the residential units.

Apart from ensuring a healthier marine life, the coral reefs will add aesthetic appeal to the development, notably at night, when they will be lit with a soft underwater glow.

The underwater glow, to be powered by wind generators, is expected to give residents a view of what is underwater from the balconies or windows of the units.

Victor18

February 23rd, 2010, 04:49 PM

The Light Waterfront Progress:

http://farm3.static.flickr.com/2682/4381534617_3ee2222627_b.jpg

http://farm3.static.flickr.com/2701/4381535069_655ac3ede5_b.jpg

http://farm3.static.flickr.com/2736/4382294792_f6936863fa_b.jpg

http://farm5.static.flickr.com/4064/4381536177_740ea50b3f_b.jpg

http://farm3.static.flickr.com/2735/4381536665_50c3e1e541_b.jpg

http://farm5.static.flickr.com/4027/4382296430_003f260dc3_b.jpg

http://farm3.static.flickr.com/2487/4382296906_ba5287d86a_b.jpg

dh maju dh

February 24th, 2010, 07:38 AM

^^ x sabar la nak tungu projek ni siap....

skye.soo

February 24th, 2010, 11:03 AM

me too me too, also Seri Tanjung Pinang & Queensbay & Southbay!

ps5

February 25th, 2010, 04:23 AM

^^ x sabar la nak tungu projek ni siap....

http://farm3.static.flickr.com/2804/4386484984_db4d513081_o.jpg

right now all we can do is wait and IMAGINE.............. :nuts:

rizalhakim

March 2nd, 2010, 10:21 AM

IJM Land: Aggressive launching plans in store

Maintain outperform at RM2.08, fair value of RM3.19: Excluding the RM10.3 million net gain arising from the disposal of a subsidiary (a special-purpose vehicle which holds PJ8 Block C) in 2Q10, IJM Land reported 9MFY03/10 normalised net profit of RM76.5 million (more than 100% rise year-on-year). This was within expectations, accounting for 71% and 74% of our and consensus estimates, respectively.

As at December 2009, the company has unbilled sales of about RM800 million, which represents 0.9 time of our FY10 revenue forecast. We understand that the company has achieved close to RM1 billion sales as at Dec 2009.

In view of improving property demand and economic outlook, IJM Land plans to launch the RM165 million Light Collection I in 2Q10 on a seven-acre site next to the Penang Bridge. The project will comprise 152 condominiums and 24 water villas with estimated selling price of RM650 psf and RM800 psf, respectively. The built-up areas for the condominiums range from 1,375 sq ft to 1,580 sq ft while the water villas have a built-up area of 3,169 sq ft.

As for the Light Collection II (with an estimated RM257 million gross development value), it is scheduled to be launched by 2H10. It will comprise 297 condominiums with built-up areas ranging from 516 sq ft to 3,528 sq ft with selling price from RM700 psf onwards.

Meanwhile, the company also plans to launch its RM123 million Maritime Square (mixed development comprising serviced suites, shop and office units) in May. We have incorporated these projects into our earnings forecasts.

Aggressive property launches by developers are not a surprise to us given the economic recovery and improving property demand. Rising inflationary expectation and an excess of liquidity permeating the market due to easy and cheap monetary conditions will enhance house buyers’ affordability. This will be further supported by attractive marketing packages offered by developers.

rizalhakim

March 3rd, 2010, 05:24 AM

THE LIGHT POINT
THE LIGHT POINT is a coveted waterfront address designed and managed by one of Malaysia’s most established and trusted property developers, IJM LAND BHD.

The project is part of a larger, more comprehensive mixed development spanning 152 acres on the eastern coastline of Penang Island known as THE LIGHT Waterfront Penang.

THE LIGHT POINT is born of IJM LAND BHD’s vision to define the elegance of waterfront living. The exclusive residence features luxurious living spaces amidst tropical landscaped gardens with picturesque vistas of the ocean. The exclusive condo blends style with laid-back charm of seafront properties to create the ultimate coastal sanctuary.

Positioned high on a waterfront coastline, THE LIGHT POINT beckons residents and visitors to savour the commanding views of the rising and setting sun. Bask in the zen-like surroundings of the complex’s landscaped gardens and manicured lawns or invigorate the mind and body in one of the many uniquely-fashioned pools, chief among this, the Reflective Pool with an accompanying water feature that embodies elements of good Feng Shui. Residents can also enjoy various other amenities such as the Reading Lounge, the BBQ and such that this luxurious residence has to offer.

THE LIGHT POINT reflects the universal standards of high living residential properties whilst embracing eco- friendly measures of environmental sustainability. Clearly a class of its own, this unique residential property epitomises the finest in urban waterfront living.

THE LIGHT POINT’s architectural genius redefines contemporary living. Each residential unit is designed to seamlessly integrate the ultimate in style with luxurious comfort, within tranquil and secure surroundings. Greater ceiling heights enhance the feeling of spaciousness of the generous living areas.

Well-equipped wet and dry kitchens cater for family dining and culinary entertaining.Timber flooring lends warmth and elegance to the bedrooms. The dynamic layout of every unit successfully harmonises modern social living with the intimacy of a private retreat.

Project name: The Light Point
Developer: Jelutong development sdn bhd
Product type: High end condo
Location: The Light Waterfront Penang
Launch date: 19 Dec 2009
Expected completion date: March 2013
Tenure: Freehold
Total land area: 2.87 acre
Number of units/villas: 88 units
Plot area range (if applicable):
Unit sizes/built-up area range: 1830 sq.ft – 4090 sq ft
Price range: RM 1,026,000 – RM 2,886,000
Architect: Arkitek Permata , Penang
Interior design: -
Landscape architect: Clouston Design (M) Sdn Bhd
Property management: Liberty Heritage
· Common facilities:
Swimming pool, leisure pool, children’s pool, gymnasium, games room, reading room, outdoor reading area, sky lounge, multi-purpose hall, bbq area, lawn, children’s playground, jogging track, cycling path, waterways, marina facilities, waterfront club house, tennis, basketball, squash, green park.

Average monthly maintenance fees (optional): RM 3.92 per share unit
Expected rental return per annum (optional):

Sales Office contact details: +604-2961333 (T) , +604-2961334 (F)
1-16-01, Menara IJM Land,
1, Lebuh Tunku Kudin 3,
11700, Gelugor, Penang, Malaysia.

supremecouncillor

March 4th, 2010, 06:40 AM

I wonder how many locals can afford to buy the multimillion ringgit houses here???:ohno:

project aliciel

March 15th, 2010, 08:02 PM

more and more lower/middle class penangite move to seberang perai, and more and more upper class from seberang perai move to penang...

ps5

March 17th, 2010, 07:52 AM

I wonder how many locals can afford to buy the multimillion ringgit houses here???:ohno:

http://farm5.static.flickr.com/4047/4439511199_113420121b_o.jpg

Heard tat this one cost more than 12million ringgit...
:eek2::eek2::eek2:

rizalhakim

March 17th, 2010, 08:23 AM

^^dats hot......totally hot...

ps5

March 17th, 2010, 08:29 AM

^^dats hot......totally hot...

haha! u r talking about the building design or the PRICING?? :nuts:

rizalhakim

March 17th, 2010, 08:35 AM

dat banglow lo...is it banglow??? 4storey banglow rite...really cool project...

Victor18

March 18th, 2010, 12:56 PM

Great project indeed but this will be slow due to the land reclaiming process,its a hard task to handle before getting every construction started...

PlanetNova

March 18th, 2010, 04:04 PM

dat banglow lo...is it banglow??? 4storey banglow rite...really cool project...

It would be nice if they had planned a garden on each roof top.

hornetsjet

March 18th, 2010, 06:17 PM

dream house!! RM 12 Million is gonna spent my whole life...

rizalhakim

June 14th, 2010, 10:09 AM

IJM's The Light opens for sale
By Racheal Lee
Monday, 14 June 2010 15:21

KUALA LUMPUR: IJM Land has opened The Light Collection 1 for sale at its flagship waterfront project, The Light, in Penang.

Half of the non-Bumiputera units at the project, comprising condos and villas, has been sold since its soft launch on May 29, said its managing director Datuk Soam Heng Choon.
Speaking to theedgeproperty.com, Soam said that The Light Collection 1 is the first among four in The Light Collection series to offer 24 units of four-storey water villas and 152 condominium units in four eight-storey blocks.

The condominium units have built-ups ranging from 1,367 sq ft to 1,582 sq ft, while each of the water villas’ built-up area is 3,132 sq ft. The units are priced from RM823,600 to RM3.18 million.

The developer has not fixed any date for the official launch of the project.

Costing some RM5 billion, The Light Collection 1 is a 152-acre freehold waterfront development that will be built over the next 12 to 15 years.

Its first project here, The Light Linear, received overwhelming response from home-buyers during its launch on Aug 1 last year. Sales of the project hit 82%, with all the non-bumiputera units sold. The Light Linear, which comprises 328 condominium units, have an average size of about 1,500 sq ft and are priced at an average of RM410 to RM450 psf.

It then launched The Light Point, a high-end 28-storey tower block on a 2.87-acre site, which offered 88 unit units on Dec 19 last year. Each unit has a built-up area ranging from 1,830 sq ft to 4,090 sq ft.

This second launch attracted more than 100 interested buyers for the units, which were tagged with an average price of RM620 psf. These units will be housed in a 28-storey tower with only four units to a floor.

The Light is being undertaken by Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd. IJM Properties is a unit of Main Board-listed IJM Land.

Phase One of the three-phased project will consist of six parcels of high-end waterfront residential developments over 42 acres. The first phase will have 1,177 units from The Light Linear, The Light Point and The Light Collection I, II, III and IV.

Phase Two, spread over 103 acres, will be an integrated commercial city with a five-star boutique hotel and another four-star hotel catering for business travellers and exhibition centre visitors.

The last phase has been allocated for a seafront park, which would include a marina and a yacht club.

World 2 World

June 14th, 2010, 11:08 AM

http://i237.photobucket.com/albums/ff227/jeff1983/130620104852.jpg

http://i237.photobucket.com/albums/ff227/jeff1983/130620104850.jpg
by pen

dean87

June 14th, 2010, 09:37 PM

http://farm5.static.flickr.com/4047/4439511199_113420121b_o.jpg

Heard tat this one cost more than 12million ringgit...
:eek2::eek2::eek2:

i don't think bumiputra will afford to buy this crazy homes, only chinese can enjoy it. maybe most foreigners visiting penang lg berminat nk beli... haha:nuts:

Vince

June 14th, 2010, 10:09 PM

daeng_jal

June 15th, 2010, 12:04 AM

the light dah start blom?

supremecouncillor

June 15th, 2010, 04:08 AM

Why are you putting others down? Do you seriously think that there are no Malays who can afford a 12 million house? Look around KL....and please don't discrimminate: it is not appropriate. And don't give Chinese Malaysians a bad name.

Actually these multi-million maniac houses are meant for foreigners, and we malaysian (what ever the race is) can only become a spectators or passers-by...

ps5

June 15th, 2010, 08:27 AM

Why are you putting others down? Do you seriously think that there are no Malays who can afford a 12 million house? Look around KL....and please don't discrimminate: it is not appropriate. And don't give Chinese Malaysians a bad name.

AGREE!! let us imagine "5% Discount for Bumiputra" RM12,000,000 x 5% = RM600,000!!!! :banana::banana: MAYASIA's MALAY BOLEH!

rizalhakim

July 28th, 2010, 06:57 AM

IJM's The Light to contain world-class appeal
By Marina EmmanuelPublished: 2010/07/28

A PERFORMING arts centre to rival Australia's Sydney Opera House, waterfront retail promenade and an international standard marina are among the attractions property developer IJM Land Bhd will unveil when it launches the second phase of its flagship waterfront "The Light" development in Penang at the end of the year.

Its managing director Datuk Soam Heng Choon yesterday said the proposed iconic arts centre, known as "The Pearl" is expected to boost a seating capacity of 2,000 and set to be sprawled over 0.8ha.

The proposed marina, meanwhile, is expected to offer club facilities with more than 200 berths.

"Also to be found in the second phase of this commercial development would be an information technology precinct for Multimedia Super Corridor-status companies and incubator firms," he said during a media launch of the company's "The Light Collection 1" in Penang.

The Light Collection 1 project, which carries a development value of RM203 million, was soft-launched in May, and Soam said half of non-Bumiputera units which are sprawled on 2.8ha have been sold so far.

Present at the launching ceremony were IJM Land general manager (north) Toh Chin Leong and one of the company's consultant architect, Eric Tham.

The Light Collection 1 is the first of four in The Light Collection series which offers 24 units of four-storey water villas and 152 condominiums in four eight-storey blocks.

While the condominiums have built-ups of 1,371 to 1,582 sq ft, the water villas, which are touted to be the first of its kind in the country, are set to boost a built-up area of 3,132 sq ft.

The units are priced from RM823,600 to RM3.18 million.

With a gross development value of RM5.5 billion, The Light is a 60.8-ha freehold waterfront development which will be built over the next 12 to 15 years.

Soam said IJM Land intends to make The Light one of the best waterfront places to live in Malaysia.

"Living by the water," he noted, "represents the highest level of luxury for many home owners."

The entire The Light development is undertaken by IJM Land's subsidiary, Jelutong Development Sdn Bhd.

The project, which will be carried out in three phases, is being touted as the biggest and best integrated residential, shopping, dining, recreational and commercial waterfront living in the northern region.

rizalhakim

July 28th, 2010, 10:07 AM

IJM Land's waterfront project sees 50% take-up before launch
By Regina William of The Edge Malaysia
Wednesday, 28 July 2010 10:41

GEORGE TOWN: IJM Land Bhd's latest addition to the RM5.5 billion The Light Waterfront project — The Light Collection 1 — with a gross development value of RM203 million has seen a 50% take-up rate even before its official launch this weekend.

The Light Collection 1 is the third chapter of the larger development, after the launch of the Light Linear and Light Point in 2009. It will also be the first to feature the water villa series of the project which is being developed in three phases on 152 acres (61.5 hectares) over the next 15 years.

IJM Land's managing director Datuk Soam Heng Choon expressed confidence that the rest of the units would be taken up within the next eight months. The project boasts of being the only one of its kind in Southeast Asia with coral reef waterways weaving around and interconnecting the cluster of buildings.

Soam said the waterways were an impressive feat of high-tech engineering, extensive marine research and expertise which set the project apart from other projects in the country.

At a media briefing on the The Light Collection 1 here, he said the project offered 152 condominium units and 24 water villas within 7.16 acres of land. Also present at the briefing were general manager Toh Chin Leong and the project's architect Eric Tham Kong Meng from Veritas Architects.

The condominiums with floor spaces of between 1,367 sq ft and 1,582 sq ft each are priced at RM580 per sq ft while the three-storey water villas with 3,132 sq ft are priced at RM800 per sq ft.

Each of the water villas feature a basement private garage with three car park bays per unit.

Each of the condominiums and water villas come with air-conditioning units, water heaters, centralised water filtration systems, fibre-to-home, centralised vacuum systems and kitchen cabinets and will be completed by middle of 2013. The four blocks of condominiums are only eight-storeys high with six units per floor.

Soam said IJM would go on a roadshow to Hong Kong, China and Indonesia to market the project.

"There has been much interest generated on the project, which is among the first such waterfront projects in the region. We hope to launch the The Light Collection II project by the end of this year."

TYW

July 28th, 2010, 11:41 AM

^^ i'm skeptical about the success of the artificial coral reef. i think it will be difficult and expensive to maintain, and difficult to even successfully "grow" corals there.

rizalhakim

August 2nd, 2010, 10:13 AM

1 of the best project in malaysia
so cool!!
i heard many indonesian invest in dis property

http://farm5.static.flickr.com/4137/4852576042_e4e92d56c7_b.jpg

http://farm5.static.flickr.com/4073/4851956661_869cb7a4e8_b.jpg

http://farm5.static.flickr.com/4097/4852576192_8fc6e1669b_b.jpg

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http://farm5.static.flickr.com/4121/4851956225_b95cb2f52b_b.jpg

http://farm5.static.flickr.com/4136/4851956437_dc4d006384_b.jpg

Victor18

August 2nd, 2010, 10:15 AM

^^ Wow,very nice :cheers:

dh maju dh

August 2nd, 2010, 11:25 AM

perrghhhh!!!!!!

ps5

August 3rd, 2010, 04:00 AM

THE LIGHT - Collection1

http://farm5.static.flickr.com/4115/4855056491_d45fc20bea_b.jpg

http://farm5.static.flickr.com/4142/4855029385_f76484ced5_b.jpg

rizalhakim

August 24th, 2010, 05:22 AM

IJM's RM4.3bil development project
By DAVID TAN
davidtan@thestar.com.my

So far 42 acres reclaimed in IJM’s Penang project

GEORGE TOWN: A performing arts centre, a green shopping mall, marina, convention centre, and an IT hub to accommodtae MSC-status offices are among the key components of IJM Land Bhd’s RM4.3bil The Light Waterfront phase 2 project, located next to the Penang Bridge.

IJM Land managing director Datuk Soam Heng Choon said this at a recent press conference to unveil the components of The Light Waterfront phase 2 project.

The project’s construction work would start in 2012 when the ongoing exercise to reclaim 210 acres was completed, he added.

So far, IJM Land has reclaimed 42 acres for phase 1 of The Light Waterfront scheme, comprising 1,177 condominium units and gated-landed residential properties, which has an estimated gross development value of RM1.2bil.

“Out of the 210 acres, 152 acres are for the first, second and third phases of the project.

“The remaining 58 acres are reserved for the group’s future projects.

“It will take about 10 years to complete the second phase project from 2012,” he said.

Soam said the performing arts centre would be housed in an iconic building, equipped with seating for 2,000 people.

“There is a sea-fronting amphitheatre next to the performing arts centre.

“The marina that we are planning will have about 250 berths for yachts to park.

“There will be two four-star hotels, catering to the family and business markets, and a five-star business class hotel linked to a convention centre.

“There will also be a 40-storey IT building to house MSC-status companies. The green mall, which will have about one million sq ft of lettable area, provides street shopping facilities and a green environment,” he said.

The entire Light Waterfront project has an estimated gross development value of RM5.5bil, comprising three phases.

“The final and third phase is a seven-acre seafronting park,” he added.

Soam said the group has sold over 60% of the 416 condominium units launched so far under phase 1.

These properties were sold for between RM650,000 and RM1.8mil each, added Soam.

“We will be launching more residential properties for The Light Waterfront phase 1 towards the end of the year and early 2011,” he said.

World 2 World

October 7th, 2010, 06:06 PM

:cheers: wow..luv d 2nd phase. pls build!!

3vRPnwgENZQ

nazrey

October 7th, 2010, 07:01 PM

Huh!! ada alat tenaga angin baling dan aerorail?!

Venycal

October 7th, 2010, 09:03 PM

Huh!! ada alat tenaga angin baling dan aerorail?!

http://img137.imageshack.us/img137/9580/70563796.png (http://img137.imageshack.us/i/70563796.png/) :lol:

Just hope they don't oversell it and the end product turns out to be............not so great

LeeighIam

October 8th, 2010, 03:46 AM

AGREE!! let us imagine "5% Discount for Bumiputra" RM12,000,000 x 5% = RM600,000!!!! :banana::banana: MAYASIA's MALAY BOLEH!
Please take your bigotry elsewhere, this is not the place to start debating racial sentiments. Your cynic remark is despicable. I am Malay and damn proud to have Chinese and Indian friends that I call my brothers and sisters. This is an architectural forum so stick to that, bring good out of this forum and not anger, hatred and bigotry. Foster goodwill, better understandings and compromise among us Malaysians and not tear it apart!

World 2 World

October 8th, 2010, 08:05 AM

^^+1:)

dh maju dh

October 8th, 2010, 08:58 AM

perghhh............. i like.....

LeeighIam

October 9th, 2010, 04:25 AM

:hug:^^+1:)

nazrey

October 19th, 2010, 11:04 AM

http://commondatastorage.googleapis.com/static.panoramio.com/photos/original/26710206.jpg
http://www.panoramio.com/photo/26710206

nazrey

October 19th, 2010, 11:40 AM

http://img831.imageshack.us/img831/2199/38343127.jpg

kubundu

October 19th, 2010, 03:01 PM

^^ old pic. the light linear is already a few storeys high by now.

kwanweijye

January 18th, 2011, 10:36 AM

The Light Point
http://i1209.photobucket.com/albums/cc387/kwanweijye/TheLightPointJan11.jpg

The Light Linear
http://i1209.photobucket.com/albums/cc387/kwanweijye/TheLightLinear02Jan11.jpg
http://i1209.photobucket.com/albums/cc387/kwanweijye/TheLightLinear01Jan11.jpg

World 2 World

January 19th, 2011, 10:29 PM

^^quite fast

jb2020

January 22nd, 2011, 05:13 AM

im always impress with the work/project done by IJM. even at jb also all their project fastly developed,...lagikan pulak kat penang... congrat IJM :cheers:

browncolour

April 23rd, 2011, 10:09 PM

how about now?:lurker:

rizalhakim

June 1st, 2011, 07:32 AM

new
The Light Collection III
http://www.penangpropertytalk.com/wp-content/uploads/2011/05/thelight-collection-iii.jpg
The Light Collection III, the third project among The Light Collection series offering medium-rise super condominiums, duplexes, 3-storey townhouses and seafront watervillas (duplexes) with private pontoon and private pool.

Property Project : The Light Collection III @ The Light Waterfront
Location : Tun Dr. Lim Chong Eu Expressway, Gelugor
Property Type : Super Condominium, Townhouses, Water Villas
Land Tenure : Freehold
Built-up Area : 2,000 sq.ft. – 4,000 sq.ft.
Total Units : 190
Indicative Price: RM1,530,000 onwards
Developer : IJM Land
Website : www.thelightwaterfront.com

The Light Collection IV
http://www.penangpropertytalk.com/wp-content/uploads/2011/05/thelight-collection-iv.jpg
The Light Collection IV, the final project among The Light Collection series offering low-rise super condominiums, duplexes and seafront bungalows with private pontoon and private pool.

Property Project : The Light Collection IV @ The Light Waterfront
Location : Tun Dr. Lim Chong Eu Expressway, Gelugor
Property Type : Super Condominium, Seafront Bungalows
Land Tenure : Freehold
Built-up Area : 1,695 sq.ft. – 7,000 sq.ft.
Total Units : 98
Indicative Price: RM1,600,000 onwards
Developer : IJM Land
Website : www.thelightwaterfront.com

D_Y2k.2^

June 1st, 2011, 08:54 AM

I so wanna buy them if i can afford !

nazrey

June 17th, 2011, 06:57 AM

Can see from far away ...even second bridge constructions also can see!!.and so many projects here!
http://farm3.static.flickr.com/2580/5830768950_ce49044d82_b.jpg (http://www.flickr.com/photos/jonbinalay/5830768950/)
Malaysia's Pearl of The Orient (http://www.flickr.com/photos/jonbinalay/5830768950/) by jon.noj (http://www.flickr.com/people/jonbinalay/), on Flickr

ps5

June 20th, 2011, 11:00 AM

PROJECT UPDATE

http://farm3.static.flickr.com/2563/5851856767_b2c04bb813_b.jpg

daeng_jal

June 20th, 2011, 02:58 PM

im always impress with the work/project done by IJM. even at jb also all their project fastly developed,...lagikan pulak kat penang... congrat IJM :cheers:

secret to their success
they sell almost double price than other people
yet,laku max,pre-launching jer sold out:lol:

rizalhakim

July 22nd, 2011, 10:53 AM

http://www.starproperty.my/malaysiaproperty/Details.aspx?pid=612952
http://starproperty.my/CMSFiles/image/newdev/THE%20LIGHT%20COLLECTION%20I.jpg

tanprop

July 23rd, 2011, 06:24 AM

They are not being sold double the price of others, not at all. During Launch, Light Linear >=400psf, light point 500psf, Collection I & II from 600psf. This price range is comparable, or even lower than the same class of development in the recent time such as pearl regency, E&O, JAZZ residence, future Icon Residence, Southbay City, soho&gurney, Mansion One, 118@island plaza etc. No to mention that most of the units are given >2 car parks (even studio has 2), furnitures fittings (air-cons, heater, kitchen cabinet etc), and it is green certified. Once phase I completed and phase II commercial also at least taking shape, the price would go up again, at least comparable to E&O at >=800psf now.

nazrey

August 21st, 2011, 06:02 AM

http://farm7.static.flickr.com/6089/6061636920_ec8062eb74_b.jpg (http://www.flickr.com/photos/marufish/6061636920/)
Jelutong from the air (http://www.flickr.com/photos/marufish/6061636920/) by Marufish (http://www.flickr.com/people/marufish/), on Flickr

rizalhakim

August 22nd, 2011, 07:40 AM

^^nice.....

rizalhakim

September 26th, 2011, 07:47 AM

hot....
3vRPnwgENZQ

newbi3s

September 27th, 2011, 04:58 AM

Wow splendid project. Something that I can't resist to get. Beautiful I can say.

rizalhakim

October 3rd, 2011, 09:35 AM

IJM Land to set the bar on digital lifestyle
By Marina Emmanuel
Published: 2011/10/01

GEORGE TOWN: IJM Land Bhd is poised to set the bar in Penang and the rest of the country soon on how a fully-networked property development can spur economic growth.

The company's flagship development - The Light Waterfront Penang - will offer a digital lifestyle to all its investors, thanks to fully fibre-to-the-home services and high-speed broadband connection to both residential and commercial investors within its 60.8 hectare project on Penang island.

The move by IJM Land will give a boost to the Penang state government's efforts in bringing fibre-optics to home users on Penang island.

"Thanks to IJM Land's efforts at future-proofing its properties in a greenfield development will stand out as a showcase, since it will soon offer its property owners 25 times more bandwidth from what Penang residents are currently having," Penang Telecommunications Task Force chairman Jeff Ooi told reporters after IJM Land, Astro Malaysia Holdings Sdn Bhd and TIME dot.Com Bhd inked a information and communications technology agreement at Menara IJM in Penang.

Present at the event were IJM group chief executive officer and managing director Datuk The Kean Ming, IJM Land Bhd's chief executive and managing director Datuk Soam Heng Choon, TIME chief executive officer Afzal Abdul Rahim and Astro chief commercial officer Liew Swee Lin.

Ooi, who is chairman of PDC Telecommunication Services Sdn Bhd and Jelutong Member of Parliament, has been working with telecommunications service providers such as TIME.dot.Com in laying 110km of fibre-optic cables around Penang island.

"We are currently short-changing ourselves in Penang where we get only 4 megabytes per second in broadband services. IJM Land is now going to offer what is offered in Seoul, Korea with a 100 mbps broadband connection," Ooi said.

Touted as the "Jewel in the Crown" for IJM, the RM6.5 billion 'The Light' project will feature waterfront living with residential, recreational, entertainment, business, hospitality, education and commercial components in one central hub.

"The offering of fibre-based services at The Light enhances efficiency and allows the flexibility to work from home," Soam said, adding that the use of fibre-optics complies with Malaysia's Green Building Index standard requirements.

CoolFellas

October 3rd, 2011, 07:19 PM

IJM Land to set the bar on digital lifestyle

"Thanks to IJM Land's efforts at future-proofing its properties in a greenfield development will stand out as a showcase, since it will soon offer its property owners 25 times more bandwidth from what Penang residents are currently having,"
"We are currently short-changing ourselves in Penang where we get only 4 megabytes per second in broadband services. IJM Land is now going to offer what is offered in Seoul, Korea with a 100 mbps broadband connection," Ooi said.

.

By next year (2012) the big cities in Korea will have the fastest broadband in the world, 1Gbps and the rest of Korea are between 60-100 Mbps. Meanwhile our Unifi (High Speed Broadband) up to 20mbps. Nevertheless, Penang will go beyond national broadband speed level by 5 times. :)

nazrey

November 8th, 2011, 06:38 AM

http://penangprojectupdate.blogspot.com/2011/06/light-linear-5-jun-2011.html

http://2.bp.blogspot.com/-XX9s9GUr_wE/Tez--sYUDEI/AAAAAAAAAgU/nhocn7oEBsM/s1600/IMG_5752.JPG

http://2.bp.blogspot.com/-0tYHQGjun5w/Tez_IuiJFKI/AAAAAAAAAgY/FGaRN0rMw_Q/s1600/IMG_5753.JPG

rizalhakim

November 16th, 2011, 10:16 AM

IJM brings RM5bil iconic waterfront project to Hong Kong

HONG KONG: IJM Land Bhd's RM5 billion iconic waterfront project in Penang, known as "The Light," is up for grabs at the ongoing MIPIM Asia 2011, the world's premier real estate exhibition and conference, at the Hong Kong Convention and Exhibition Centre.

Located just off the Penang Bridge on the island's eastern coastline, The Light is an integrated project comprising commercial and residential components.

Its chief executive officer and managing director Datuk Soam Heng Choon said: "We are bringing it up to Hong Kong (at MIPIM Asia) where there are more international investors who are looking at it.

"The residential component is on 16.8ha (42 acres) reclaimed land which we launched in 2009. Currently, we've launched four parcels of the residential projects.

"We already commenced reclamation for the commercial projects. We are now ready to go into the market to look for investors," he told BERNAMA on the sidelines of MIPIM Asia 2011, here.

MIPIM Asia 2011, which began yesterday, was opened by Hong Kong's secretary for development, Carrie Lam Cheng Yuet-ngor.

The three-day event will end tomorrow.

In the commercial component, Soam said the total land hectarage was about 42 hectares (105acres) comprising hotels, a business park, convention centre, shopping complex and a performing arts and cultural centre.

He said the first phase of the residential component was under construction.

"We've launched (the residential component) and was mostly sold to Penangites.

"This project will take 10 years (to complete). This, however, depends on how fast we can go. If we can get investors to come in to partner us in some of the commercial projects, this can go very fast, may be in the next five to eight years, it will be completed, he said.

Soam said IJM Land was not desperately looking for investors, however,"we are just looking for people who may be interested because we've already got a lot of interest and investors who are already there but there may be additional people who are also interested as well."

Back home, he said: "We've our local and also Singaporean funds looking at investing in this place as well."

"We came here to specifically network and showcase The Light project. So, we need to be more focused and today we are here to focus on The Light," he added.

IJM Land, with projects in Penang, Klang Valley, Johor, Sabah (in Kota Kinabalu and Sandakan) and Sarawak (Kuching), is among the Malaysian participants at MIPIM Asia 2011 being held at the Malaysian Pavilion.

The Malaysian Pavilion was initiated by Malaysia Property Inc, a Malaysian government initiative that acts as a "bridge" between institutions and corporate and private investors to real estate investment opportunities in Malaysia. - BERNAMA