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Old July 29th, 2007, 12:16 PM   #1
nazrey
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PENANG | Gurney Paragon | 43 fl x 2 | Com

GURNEY PARAGON
Gurney Drive. Penang. Malaysia.
Gurney Paragon is the latest exquisite upmarket luxury condominium project development to be launched. Sited in prime Gurney Drive, the heartbeat of the city, with an abundance of amenities offering modern day city living & conveniences at its best. Gurney Paragon features a spacious built up area of approximately 2,829 - 4,600 square feet. Each unit offers unending sea breezes and superb sunset view which makes living in Gurney Paragon a delight. An enviable location. A place to reside in the heart of the city.


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Old July 29th, 2007, 12:20 PM   #2
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from the newspaper

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Old July 29th, 2007, 01:01 PM   #3
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Gurney drive view from Tg Tokong
by me.







Lovely Guney Drive, the place i always hang out with friends

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Old July 29th, 2007, 01:05 PM   #4
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site project

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Old July 29th, 2007, 01:06 PM   #5
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by cooltemper

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Old July 29th, 2007, 01:10 PM   #6
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by cooltemper

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Old August 5th, 2007, 11:20 AM   #7
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Gurney Paragon
by Hunza Properties Berhad

This freehold land, measuring 10.21 acres, being the latest addition to Hunza Properties Berhad's landbank is strategically located in one of the most prestigious and established addresses along Penang's renowned promenade - the Gurney Drive. It has the frontages of both Gurney Drive and Jalan Kelawai.

The proposed integrated development in this famous tourist attraction landmark comprises 2 blocks of high-end condominiums and a shopping mall of more than 1 million sq ft retail space which will be built around the St Joseph's Novitiate, a heritage masterpiece. St Joseph's Novitiate is under proposal to transform to its original outlook and shall house boutique retailers and restaurants.

Located within the "most happening" stretch of prime estate in Penang, one can easily access to myriad of amenities such as business & commercial complexes, shopping havens, fine dinings, restaurants, hawker centres, 5 stars hotels, financial institutions, medical centres, college, schools, markets and popular leisure hangouts etc. - all the while fanned by cool breezes coming in from the calm seas of the straits channel.

For those who wish to be part of this upcoming hot spot with lucrative capital appreciation/returns for your investment, the proposed gurney development is certainly a "must have".
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Old August 14th, 2007, 10:19 AM   #8
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Location

Quote:
Originally Posted by TYW View Post
Gurney Drive (western part)
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Old August 15th, 2007, 10:31 PM   #9
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design is nothing special, but not bad
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Old August 18th, 2007, 06:51 AM   #10
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Hunza plans tourist shopping mall in Penang
By Marina Emmanuel
August 18 2007


Quote:
Hunza Properties has engaged global real estate advisory firm DTZ International to advise on the tenant mix as it wants the mall to serve as a centre for tourists
PENANG-based Hunza Properties Berhad (HPB) will soon unveil plans for a tourist shopping mall at the site of its 'Gurney Paragon' project on the island.

The company's chairman Datuk Khor Teng Tong yesterday said the proposed mall, which will be completed by 2010, is set to raise the bar for Penang's retail scene.

"We have engaged global real estate advisory firm DTZ International to do the research and advise us accordingly on tenant mix as we want the mall to serve as a centre for tourists," he said after presenting HBP's 2007 fiscal results for the year ended June 30.

"We believe that in the mid-future, say in four to five years from now, we are looking at a much sizeable Hunza.

"We expect to have a steady income stream from the mall, as it will serve as a prime investment in the most sought-after address in northern Malaysia."

The mall is part of a RM700 million 'Gurney Paragon' development project along Penang's sea-fronting Gurney Drive.

The 4.08 hectare freehold site in George Town was purchased by HPB from the Federation of Malaya of the Christian Brothers' Schools for RM97 million.

The project, which is being touted by HPB as the next tourist landmark for Penang, will include shopping mall with 2,627 parking bays, retail lots, service apartments and condominiums.

The two condominium blocks comprising 222 units, carry a gross development value of around RM380 million.

Khor said since its soft launch, about 15 per cent of the 'Gurney Paragon' condominiums have been sold.
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Old August 18th, 2007, 06:59 AM   #11
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Not very good design
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Old August 18th, 2007, 07:22 AM   #12
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Good for PENANG!

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Old September 8th, 2007, 05:08 AM   #13
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Hunza project to add lustre to Penang property scene
By Jeeva Arulampalam
September 8 2007


Quote:
The total sales value for the two condominium blocks and shopping mall of Gurney Paragon is estimated at RM1 billion.


PROPERTY developer Hunza Properties Bhd is aiming to boost property prices in Penang with its latest project, the Gurney Paragon.

The project includes two high-end condominium blocks, a heritage building (St. Jo Square) and a lifestyle shopping centre spread out over 4.13 hectares.

The total sales value for the two condominium blocks and shopping mall is estimated at RM1 billion.

The two condominium blocks, West Tower and East Tower, will have a total of 220 units, with sizes ranging from 2,800 sq ft to 10,000 sq ft for the penthouse.

Currently, 30 per cent of the total units have been taken-up since the soft launch. The price starts from RM1.38 million.

Below the condominium units will be retail outlets such as food and beverage and fine dining restaurants. There will also be facilities such as fitness centres.

The project, targeted to be completed by 2010, will not be built in stages.

"We will try to complete the development of the condos and shopping mall within the timeframe instead of breaking it up," said Hunza Properties group managing director Daisy Ooi in an interview with Business Times.

She also added that the seven-storey shopping mall, with an area of one million sq ft, will not be sold but kept under Hunza Properties.

This development also has a festive square which is an open space of 60,000 sq ft, that can be used to hold events.

To ease traffic congestion, Hunza Properties will also be building two link roads to provide easy access for tenants leaving the Gurney Paragon development.

"This development will enhance property prices in Gurney drive as foreign investors look to purchase these units," she said. She added that Singaporean investors had expressed interest in the units.

"The tenants can expect good capital appreciation and rental return upon completion of this project," she added.

Hunza Properties is currently having a showcase at Brabus showroom in Bangsar Baru and is open to the public today and tomorrow from 10am to 7pm.
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Old September 9th, 2007, 07:53 AM   #14
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Update

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Originally Posted by forever consern View Post
All the consultant and piling contractor have been appointed, now only left Main Contractor, tendering process supposed is on the way

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Old September 22nd, 2007, 05:43 PM   #15
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by Adam Tan

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Old September 22nd, 2007, 06:08 PM   #16
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PENANG-based Hunza Properties Bhd will launch residential properties of its RM700 million development project along the sea-fronting Gurney Drive in Penang soon. The high-end condominiums include 80 units that boast a floor space of between 3,600 and 3,800 sq ft with lap-pools.The project, which has yet to be named, is due to be launched this year. The 4.08ha freehold site in George Town was purchased by HPB from the Federation of Malaya of the Christian Brothers' Schools for RM97 million. The project, which is being touted by HPB as the next tourist landmark for Penang, will comprise a shopping mall with 2,627 parking bays, retail lots, serviced apartments and condominiums.
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Old November 2nd, 2007, 04:39 PM   #17
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Hunza plans upmarket mall in Penang
Wednesday October 17, 2007
By Chan Ching Thut




An artist's impression of Gurney Paragon

KUALA LUMPUR: Hunza Properties Bhd is planning an upmarket mall at its Gurney Paragon project that it hopes will usher in a new shopping experience for Penangites.

Sales and marketing manager Eric Seow said the mall, set to be one of the largest in Penang, would be lifestyle-oriented and cater to high-end brands.

Spread over seven storeys, the mall will offer about one million sq ft of retail space and more than 2,000 parking bays.

“We hope this shopping mall will introduce a whole new shopping experience to Penangites.

“In the past, a lot of brands would only go to Singapore or Kuala Lumpur. However, more regional brands are penetrating Penang and we are working towards that direction (in meeting shoppers' need for luxury brands),” he told StarBiz.

While population growth in Penang might be low, Seow said there was a growing new generation with the ability to spend.

“Now we see younger shoppers (in Penang) who are able to buy luxury items. This is good for brands targeting this group and Penang is a place for them to penetrate,” he added.

To realise its vision, Hunza has appointed the Philippines-based Cardiz International to undertake retail architecture of the mall.

Seow said Cardiz's experience in designing malls would ensure that Gurney Paragon mall stood out from its competitors.

Hunza would also appoint a retail consultant and has been in discussion with Britain-based DTZ.

The latter would advise in the mall's layout, shopping trends, tenancy mix and brands.

Seow was positive on the location of the shopping mall next to Gurney Plaza.

“The malls will complement each other. As shoppers want convenience, they will welcome the malls being side by side,” he said, adding that the company would find tenants different from those already operating in Gurney Plaza.

Seow said marketing activities to lease out the retail space would start early next year.

Gurney Paragon is a mixed integrated development comprising a shopping mall, two blocks of high-end condominiums and a heritage building spread over 10.21 acres of freehold land.

Located along Gurney Drive fronting the sea, the land was formerly occupied by Uplands International School. The company bought it in 2004 for RM97mil.

Gurney Paragon has a total gross development value of close to RM1bil.

Piling work for the development has begun and is scheduled to complete by 2010.
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Old November 2nd, 2007, 04:52 PM   #18
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very nice building
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Old November 2nd, 2007, 05:10 PM   #19
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Update :
by Hunza Properties Bhd

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Old November 15th, 2007, 03:47 AM   #20
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Approved!

Hunza to deliver good results
Thursday November 15, 2007
By SHANNEN WONG
TheStar


PETALING JAYA: Hunza Properties Bhd is expected to deliver promising results in the future, thanks to its projects in the luxury sector amid the property boom in Penang, says Kenanga Investment Bank Bhd.

“We expect quicker take-up rates for Infiniti and Gurney Paragon than for typical Penang properties, given the iconic appeal of both projects,” Kenanga said in a report, noting that Infiniti and Gurney Paragon had recorded 22% take-up rates each since their launch in mid-2007.

In addition, there would be more profit recognition and accelerated sales at Ailila in Tanjung Bungah, Penang and Mutiara Seputeh, Kuala Lumpur as these projects neared completion in the third quarter of its financial year ending June 30, 2008 (FY08), it said.

For the first quarter ended Sept 30, Hunza Properties recorded a 62% increase in pre-tax profit to RM18mil, driven mainly by higher profit recognition for Alila and Mutiara Seputeh, which had 85% and 70% take-up rates respectively.

Kenanga said while the RM12mil net profit was below its expectations and accounted for 19% of its FY08 forecast of RM62mil, first-half results “tend to be softer than” the second. It forecast FY09 net profit of RM78mil.

OSK Research Sdn Bhd concurred that Hunza Properties was coming largely in line with its full-year projection, with a year-on-year growth of 86.3% and 66.8% in turnover and net profit respectively in the first quarter.

OSK had forecast Hunza's FY08 turnover and net profit at RM270mil and RM51.3mil respectively.

“With more cash flowing in from its property development projects, Hunza Properties net gearing position has improved further to 0.57 time in the first quarter from 0.67 time in the fourth.

“Hunza Properties has an unbilled sales of RM194mil from its development projects of Alila, phase one of Gurney Paragon and Infiniti, and semi-detached units and bungalows in Mutiara Seputeh,” it added.

CIMB Research said: “We believe the stock should outperform given the upside to our conservative sales and margin assumptions, the entry of reputable partners for Gurney Paragon and the landbank acquisitions,” it said.

Hunza Properties closed at RM2.69 on volume of 298,700 shares.
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