PENANG RESIDENTIAL HIGHRISES | General Thread

[rizalhakim]

Originally Posted by kubundu

The Uban? Cuban? or Suban? Looks nice but 16 storeys only.

nice huh

[rizalhakim]

Apply to convert to freehold status, CM tells landowners

Residential leasehold landowners in Penang can begin applying to the state government to convert the government land into freehold, said Chief Minister Lim Guan Eng.

He said the state was studying a new land policy, which would allow the 30-year, 60-year or 99-year leasehold land be converted into freehold land on a case-by-case basis.

“We are also looking into allowing the tenure of leasehold industrial land owned by the state government to be extended from 60 years to 99 years.

“Those given the approval must, of course, pay the land premium,” he said after he led a donation drive at the Air Itam market for the Sichuan Earthquake Fund yesterday.

Lim said the move to change the land policy was decided at the state Exco meeting on Friday but there were legal hurdles to overcome.

“We have to make sure that this policy is in compliance with the National Land Code,” he said.

He said the study would include the economic impact on both businesses and on the state.

Lim said extending the tenure of leasehold industrial land would help companies apply for bank loans.

“The state state government will also benefit from the premium to be paid for the extended lease tenure,” he said.

On leasehold commercial land, he said there would be no change to the land policy, which extends to 99 years.

Lim said the state government would take steps to ensure those allowed to convert residential leasehold land into freehold do not sell off the land immediately.

He said each landowner has to submit their own application for the change of land status.

“Those who want to apply can start applying now and if they need help, they can contact their assemblymen,” he said.

A total of RM2629.20 was collected from the public during the one-hour donation drive.

Also, those present were state DAP chairman Chow Kon Yeow, state party secretary Danny Law and Air Itam assemblyman Wong Hon Wai.

by The Star

[rizalhakim]

[rizalhakim]

Condos for the Japanese
RAINE & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh is confident the time is ripe to market Penang properties more aggressively to the Japanese market.

His latest project is to sell three tower blocks at the Teluk Air Tawar condominium development in Butterworth to Japanese who are keen to have a vacation or second home close to three golf courses.



Located north of the Butterworth ferry terminal, the project site takes only 15 minutes to reach by car via the newly-built Seberang Perai Coastal Road.

Comprising 72 three-bedroom units in each of the three blocks, the project was revived this year and is undertaken by Welcome Properties Sdn Bhd.

Standard units have a built-up space of 1,328sq ft and come in two layout designs. They are all designed as corner units. The en bloc sale is estimated at RM30 million per block.

Geh, whose firm is in Penang, cites the scenic coastal location with a panoramic view of Penang island as an important selling point. The development site faces Tanjung Bungah and Tanjung Tokong on the island.

But the main attraction for targeted Japanese buyers is the proximity of the Teluk Air Tawar condo development to three golf and country clubs, namely, Cinta Sayang, Permaipura and Havard Jerai. They are all located to the north-east in Kedah. Cinta Sayang is only 20 minutes away by car.

And with the vibrant growth of commercial centres and retail outlets in Butterworth, residents will have no lack of shopping facilities such as the Tesco, Makro and Carrrefour hypermarkets.

As for food and beverage outlets, the highly popular Auto City commercial centre at Juru is a choc-a-block full of bars and restaurants offering all types of cuisines including Japanese and Korean as well as Western food.

With liberal conditions under the Malaysia My Second Home scheme, the Teluk Air Tawar development may soon become another Japanese enclave with spin-off services to cater to this expatriate community.

[rizalhakim]

From leasehold to freehold
Leaseholders of state land have welcomed Penang’s new land policy allowing them to convert their property to freehold status as it would mean an increase in property prices.

Pioneer Bayan Baru resident and the area’s Rukun Tetangga chairman Chai Tsing Boo, 64, said he would meet with the township’s various residents associations (RA) and Bayan Baru MP Datuk Zahrain Mohamed Hashim to discuss the procedures for getting their residential leasehold titles converted.

“Everything we know so far is from the media. I think it is important to speak to a state representative who can advise us on what needs to be done so that we can submit the relevant forms collectively,” he said.



According to Chai, “thousands and thousands” of Bayan Baru township homeowners would benefit from the policy as a majority of the homes there were built by the Penang Development Corporation (PDC).

“Developed in 1974, my single storey terrace house was under the first phase of PDC’s Bayan Baru development comprising 477 single-storey terrace houses and 74 units of single-storey semi-detached houses.

“The unit was originally priced at RM29,500. Today, despite being a 99-year leasehold property, the value has increased by sevenfold.

“Some of my neighbours who have renovated their homes managed to sell them for about RM300,000,” he said, adding that there was “about 30 years” left on his lease.

“Of course I will take advantage of the conversion policy because I want to leave our family home to my children,” he said, adding that under the last administration, a similar conversion policy was allowed but only for certain areas.

Food outlet owner Azhar Ramli and his mother, Halijah Yusof, were both unaware of the new policy but welcomed the news.

“Between my two siblings and me, we own two commercial shop lots and four flats in Bayan Baru – all are 99-year leasehold properties by PDC.

“We definitely want to convert our residential titles and will find out more at the Land Office on the procedures involved. Hopefully the premium won’t be too high,” Azhar, 36, said.

Halijah was “very happy” but hoped the policy could be extended to include conversion of commercial leasehold units into freehold titles as well.

A photographer who only wanted to be known as Ch’ng, said he would not be “rushing” to convert his land just yet.

“We don’t know how long it will take for the re-alienation to take place. If it is within six months, then I will consider.

“For people like us who are not planning on selling our units, the increase in value after conversion doesn’t really make a difference. In fact, we may end up paying more in assessment after conversion,” the 56-year-old said.

Penang Development Corporation Properties Sdn Bhd (PDCP) chief executive officer Osman Kallahan said he was in “total agreement” with the new land policy as it would benefit the rakyat.

“The change in title will add value to the property, making it more ‘bankable’. This will allow PDC home owners to upgrade their lives and standard of living,” he said, adding that prior to 2005, all PDC development projects in the state were leasehold properties.

“In the past 35 years, PDC had built 22,000 homes but since PDCP was incorporated three years ago, we have developed four freehold projects on the island and mainland.

“With this new policy, we hope to focus on building freehold properties from now on so that we can offer home owners a more valuable title," he said.

Real Estate and Housing Developers Association (Rehda) Penang chairman Datuk Jerry Chan lauded the new land policy as it would prevent property prices from dipping.

"Generally, property prices always appreciate in value but if you own a leasehold property, the prices of the land or unit will fall after a certain period.

"For example, if you have a 99-year leasehold property, chances are you will not be able to sell it for a good price if you only have about 20 years left on the lease.

"Furthermore, a leasehold property can only remain in the family for two or three generations - which is not long at all," he said, adding the home owners still preferred to purchase freehold over leasehold property if given choice.

"Just look at Singapore and Kuala Lumpur.

"A freehold title can easily fetch between 25% and 30% more in market as compared to a 99-year leasehold property. At the end of the day, a freehold title will give you peace of mind because it is more tangible - you can renovate it and give it to your children without worrying," he said.

Raine & Horne International senior partner and property consultancy director Michael Geh agrees.

"I believe conversion will result in an immediate property appreciation of over 30%.

"Lim's new land policy is definitely a good decision as it provides certainty for land title holders," he said, adding that the majority of PDC's residential developments were leasehold titles.

"My advise is to apply for the conversion but let your lawyer and bank handle the legal documentation process for you," he said.

Geh also noted that the decision to allow commercial and industrial leasehold owners to extend their 66-year lease to 99 years would instil "confidence" in leaseholders in investing in their companies.

[rizalhakim]

image hosted on flickr


image hosted on flickr




Official Site
http://www.pearlregency.co.kr

[TYW]

hopefully that's not the final design. it's so so so horrible!!

[rizalhakim]

bad huh?? difnt ppl got difnt taste i guess...

[rizalhakim]

found this but not sure whether dis is new





Pay 10% and balance upon completion
90% Financing
5% discount for Bumiputra


This waterfront haven has the added bonus of assured exclusivity with only 68 units available for select adquisition. With up to 2,950 sq.ft. per residence, The Waterfront is a true statement of luxury & prestige.


Enjoy the confort & relaxation with your family and loved ones in a resort home where every thought is put into the layout for better functionality and practicality
(Approx. build-up area: 1,475 sq.ft.)


The extra spacious corner units take into consideration your need for extra space with built-up of 2,950 sq.ft. for a truly lavish setting that is epitome of modern luxury living.
(Approx. build-up area: 2,950 sq.ft.)



Specifications

Structure: Reinforced concrete frame
Roof: Pitched roof
Walls: Cement bricks/concrete panels

Doors:
Entrance: Hardwood decorative door
Bathroom: Waterproofed timber plywood flush
Others: Timber plywood flush door

Windows: Naturalised anodised aluminium frame and clear glass

Ironmongery: Quality locksets

Floor Finishes:
Living & Dining: Quality ceramic tiles
Bedrooms: Quality ceramic tiles
Kitchen & Baths: Quality ceramic tiles
Balcony & Drying Area: Quality ceramic tiles

Wall Finishes:
Bathrooms: Quality ceramic tiles to ceiling height
Kitchen: Quality ceramic tiles to ceiling height
Other Internal Areas: Quality emulsion paint
External Areas: Quality spray tiles
Woodworks & Metalworks: Quality gloss paint

Ceiling Finishes: Skim coat paint & asbestos free superflex boards

Sanitary Fittings:
Type A: Master Bathroom:
Quality white glazed basin with vanity top
Wall mounted shower rose
Quality white glazed
sitting W.C.
Soap holder
Toilet roll holder

Type B Master Bathroom:
Quality white glazed basin with vanity top
Wall mounted shower rose with shower screen
Quality metal longbath with handset shower
Quality white glazed sitting W.C.
Soap holder
Toilet roll holder

Type A&B Other bathrooms:
Quality white glazed basin
Wall mounted shower rose
Quality white glazed sitting W.C.
Soap holder
Toilet roll holder

Kitchen: Single bowl stainless steel sink

Electrical Installation
Adequate power plug points,light points & ceiling fan points are provided
Door bell point at entrance
Water heater point at master bathroom
A/C point at master bedroom

Telephone
Plug-in telephone points at living and master
bedroom

TV Point
Plug-in MATV point at living and master bedroom

Other Common Facilities
Main swimming pool
Children’s wading pool
2 hi-tech passenger lifts
Poolside BBQ pit
Gymnasium room
Changing rooms
Sauna rooms
Jacuzzi
Community Hall
Central refuse room
24-hours security
Ample carparks


Contact:
55-11-A (Menara Northam)
Jalan Sultan Ahmad Shah, 10050 Penang
Telephone: 604-226 9537
Fax: 604-227 6841
sales@tamanratu.com

[TYW]

Originally Posted by rizalhakim

bad huh?? difnt ppl got difnt taste i guess...

i meant Perl Regency. The light looks cool of course! in fact, i think the light has the best design than any other IJM developments

[rizalhakim]

any construction pic for this project???



Project :Crystal Prestige Block B

Property Type :15 Storey Medium Cost Condominium

Facilities :Sharing the same facilities available from Crystal Prestige Block A. Please see Crystal Prestige Block A for details.

Est. Launch Date :2007

Est. Completed Date :2010

Tenure :Freehold

Listing Price :RM 220,000 to RM 235,000

Bumiputra Discount :5 %

Unit Type :Total 42 units.

Single Type - 875sq.ft.

Show Unit / Location :Jalan Free School, Section 6, Penang Island



http://www.am-el.net

[rizalhakim]

Pinhorn Suites



Pinhorn Suites a low density, exclusive and luxurious condominium development. The apartment sizes range from about 1,700 sq.ft. to 3,000 sq.ft per unit with basement car parks, roof gardens, gymnasium, & covered swimming pool. Sculpted in concrete and glass the building contrasts clearly with the surrounding making it even more extraordinary. Each floor of the building comprises only 2 units of apartment and serviced by 2 elevators.

Location : Jalan Pinhorn, Greenlane, Penang
Type : Condominium
Total Units : 24
Built-up Area : approx. 1,700 - 3,000 sq.ft.
Developer : Harta Intan Group
Price : RM700,000 onwards

[TYW]

Originally Posted by rizalhakim

any construction pic for this project???

http://www.am-el.net/project_illus/CP_BlockB_DT.jpg

Project :Crystal Prestige Block B

Property Type :15 Storey Medium Cost Condominium

Facilities :Sharing the same facilities available from Crystal Prestige Block A. Please see Crystal Prestige Block A for details.

Est. Launch Date :2007

Est. Completed Date :2010

Tenure :Freehold

Listing Price :RM 220,000 to RM 235,000

Bumiputra Discount :5 %

Unit Type :Total 42 units.

Single Type - 875sq.ft.

Show Unit / Location :Jalan Free School, Section 6, Penang Island

http://www.am-el.net/project_pic/CP_LocationB.jpg

http://www.am-el.net

that looks like Halaman Krystal. and Halaman Krystal has been completed for a few years already

[wooikuang]

Originally Posted by rizalhakim

Pinhorn Suites



Pinhorn Suites a low density, exclusive and luxurious condominium development. The apartment sizes range from about 1,700 sq.ft. to 3,000 sq.ft per unit with basement car parks, roof gardens, gymnasium, & covered swimming pool. Sculpted in concrete and glass the building contrasts clearly with the surrounding making it even more extraordinary. Each floor of the building comprises only 2 units of apartment and serviced by 2 elevators.

Location : Jalan Pinhorn, Greenlane, Penang
Type : Condominium
Total Units : 24
Built-up Area : approx. 1,700 - 3,000 sq.ft.
Developer : Harta Intan Group
Price : RM700,000 onwards

I love Pinhorn Suites. Already launch?

[built_in_me]

thats true.....their designs for penang projects are great...suits an island......even their low-cost properties dont look that bad.....anyway it's good that there are fairly a number of low-medium cost projects also....thinkin in positive way it only helps to convert kampung to urban as clearing of kampung will clear eye-sores and leaves back more land for development....it also increases the lifestyle of kampung residents as they move into these low-medium cost properties....im always waiting for the demolition of the bayan baru squatters as bayan baru is really coming up with much prestigious projects.....anyway can anyone let me know bout the status of these projects....the peak , pier at the weld quay , suites at the waterside , the one esp bout the 28 storey tower , bayvillas , the brezza , wikiworld , lcct penang airport , the light reclamation , platino grand tower , hard rock hotel , prima prai's runnymede residence project , the paragon's problem , medico-tourism p.jerejak , casa prima takjung tokong malay kampung which caught fire recently and moulmein rise. thanx

[rizalhakim]

u can check from countdown2020 and search it from there....

[rizalhakim]

Originally Posted by TYW

that looks like Halaman Krystal. and Halaman Krystal has been completed for a few years already

i think this is the 2nd or 3rd phase since they lauchd it last year.

[rizalhakim]

AP Land to launch eco-friendly project "Island Bay Resort"

PROPERTY developer Asia Pacific Land Bhd (AP Land) will launch its first prestigious ecology-friendly development in Penang, also the first for the island, by the third quarter of 2009.

The RM400 million project, dubbed "Island Bay Resort", will comprise 172 units of low density resort bungalows, villas and boutique apartments, built on a 16.2ha (40-acre) freehold site at Batu Ferringhi beach.

AP Land executive director of architectural services, Wee Beng Sang, is confident that the units will be fully taken up in six to nine months from its date of launch.

The bungalows and villas, which make up 70 per cent of the project, will be priced between US$1 million and US$1.5 million ((RM3.26 million and RM4.89 million) each. The apartments with resort- style setting, will be priced from RM500,000.

"We are targeting foreign buyers. The selling point is the elevated ground, undulating terraces, matured trees and view of the Andaman Sea," Wee said at a media briefing in Kuala Lumpur yesterday.

Island Bay, which will be completed by 2012, is aimed at high net worth individuals. It will include a clubhouse and a view platform, while AP Land will incorporate a green concept in preserving the environment for sustainability.

"There is a growing number of millionaires in the world who are looking at setting up homes in foreign countries.

"Penang has a lot to offer in terms of natural resources, but it does not have a prestigious development to attract high net worth people.

"We firmly believe that Island Bay would be a much sought-after development with its environmentally-friendly approach. Our project will set a new benchmark and put Penang on the map," added Wee.

AP Land, which acquired the land in the early 1980s, will use its own money for the initial stage of development and the rest would be self-funded.

This is AP Land's last parcel of land in Penang.

by Business Times

[rizalhakim]

Mutiara Goodyear in Penang venture with Tambun Indah
Published: 2008/06/13




PROPERTY developers Mutiara Goodyear Development Bhd and Penang-based Tambun Indah Group are jointly developing a RM776 million residential development in Seberang Prai, Penang.

Situated on three parcels of freehold land measuring 101.48ha, it is part of the remaining 284ha piece of land owned by Mutiara.

Mutiara's landbank in that area originally stood at 434ha, of which 150ha has already been utilised to develop the Bandar Tasek Mutiara township that houses over 4,000 units.

In a statement yesterday, Mutiara said a joint venture company called Tambun Indah Development Sdn Bhd has been established.



Mutiara's wholly-owned subsidiary, Pembangunan Bandar Mutiara Sdn Bhd holds a 30 per cent stake in the company, while Tambun Indah's two major shareholders - Siram Permai Sdn Bhd and Amal Pintas Sdn Bhd - have a 55 per cent and a 15 per cent stake, respectively.

Tambun Indah Development will purchase all three parcels of land from Mutiara for RM123.5 million and will undertake the development of residential properties on the land in phases.

[rizalhakim]

Bolton eyes more land in Penang
By DAVID TAN


GEORGE TOWN: Bolton Bhd plans to spend RM200mil to acquire by March suitable sites in the north-east of Penang island for new residential projects, said executive chairman Datuk Azman Yahya.

“We plan to launch high-end residential properties with gross development value (GDV) of between RM600mil and RM800mil.

“The properties will comprise high-rise condominiums and landed residential homes,” he said after launching the company’s RM200mil Surin condominium project in Tanjung Bungah.

“In view of soaring energy and building material prices, Bolton will price its future properties 20% to 30% higher,” he added.

Construction work on the condo project is expected to start this month and scheduled for completion in three years.


Datuk Azman Yahya with a model of the Surin condominium

Azman said about 65% of the 198 units in the first tower were sold during the soft launch.

Another 192 units in the second tower will open for sale tomorrow, he said.

“The key features of Surin include 850 parking bays in a multi-storey car park.

“Other facilities are a gymnasium, four high-speed lifts and closed-circuit television connected to the guard post,” he added.

The units have built-up areas of between 1,307 and 2,827 sq ft and are priced from RM364,988 to RM1.2mil.

“The units have higher floor-to-ceiling height and bigger balcony space,” Azman said.

He said Bolton was lining up a new range of residential properties with an estimated GDV of RM1.5bil.

These projects will be launched in the next 12 months.

The bulk of them were in the Klang Valley, including the RM1bil Mayang scheme, Tijani 2 North, Condo 3, Bolton Court and The Piazza in Puchong, Azman added.