Reinventing the Urban Lifestyle in Penang

April 25th, 2018 Comments off

eco-horizon-aerial

Penang, the second smallest Malaysian state by land mass has among the nation’s highest population densities and is one of the country’s most urbanised states. Penang is also the most unique state in the country as it is the only state that is made up of an island and mainland.

In the past, some even thought that Penang is just an island, and completely ignored the existence of the mainland. The Penang property market was naturally just fully focused on the island. Today, the island is choked and congested with overwhelming developments.

Available land appears to be pocket-sized, leaving developers constrained to innovate. The scarcity of land on the island along with the abundance of opportunities on the mainland have subsequently seen developers shift their focus to the mainland.

With the rise of the Millennial Generation, the industry is witnessing new behavioral tendencies among home buyers. They appear to be inclined to invest in lifestyle living that gives them the security, comfort and convenience.

The massive modern township developments at Batu Kawan seem to be providing just the right products for their appetite. If commute to work between the Bayan Lepas Free Industrial Zone (FIZ) and the mainland used to be an issue before, this is a situation which no longer poses any concern.

The workplace is just minutes away today for those who are living on the mainland. If shopping malls were the reason why Penangites chose to stay on the island, the Design Village at Batu Kawan on the mainland is the largest outlet mall in Malaysia. If education was a key attraction on the island, KDU University College and Peninsula College are opening their doors on the mainland in 2019.

Eco Horizon at Batu Kawan, is a good example of how the urban lifestyle is being transformed in Penang. Spanning over 300 acres of land located right opposite the upcoming IKEA at Batu Kawan, Eco Horizon features more than 2,000 units of strata landed houses surrounded by man-made lakes, cycling tracks and a luxurious clubhouse.

Envisioning a new modern urban lifestyle, a notable concept which is currently offered in Eco Horizon is their Garden Home concept. A superb concept which is well accepted in Kuala Lumpur with a. impressive take-up rate. The concept is the first in Penang offering a terrace-type unit with a spacious build-up of 30ft x 40ft and every unit comes with a private garden.

 

As you step into the units of the Garden Home at Eco Horizon, it automatically strikes you that the key difference in this concept is the layout which was designed meticulously to allow natural light into the family and dining areas. The patio area is actually your dining area facing your own garden. A satisfying yet comforting view is guaranteed as you have your meals while overlooking the greenery blooming in your own garden. It also encompasses a very well designed layout which enables the segregation of wet and dry kitchen.

With a spacious car porch size of 20 ft, there are no more worries for Penangites who own more than two cars, since the Eco Horizon Garden Home is designed to accommodate at least 3 cars.

Emphasizing on the importance of exercise in our daily life and the need for healthy lifestyles, Eco Horizon ensures that a durable yet reliable jogging track is accessible for you via your back door.

The Bay Window and Balcony Series are the two design types for consideration. Both designs feature 4 bedrooms with its own attached bathroom and a small room at the ground level which can be either used as a maid’s room or store room. The Balcony Series units are equipped with a balcony for you to enjoy your morning or evening view from the comfort of your master bedroom.

Phase 1 of Eco Horizon is now 80% sold. Visit Eco Horizon show units today to experience for yourself how impressive this exclusive Garden Home concept is.

 

BRYDON COLLECTION is now OPEN FOR PRIORITY REGISTRATION

Brydon, the second precinct of Eco Horizon township at Batu Kawan. An exclusive gated and guarded community offering double storey semi-detached and bungalow houses. Register your interest now to receive priority invitation.

Register your interest here

Find out more about Eco Horizon @ Batu Kawan

Categories: Batu Kawan, Featured Articles Tags:

UPCOMING: Butterworth / Airmas Group

April 23rd, 2018 No comments

proposed-development-butterworth-airmas

A proposed residential development within the established neighborhood of Raja Uda in Butterworth, Penang. Strategically located adjacent to Taman Riang, just a stone’s throw away from Jalan Raja Uda. It’s only 5 minutes drive from the recently completed Penang Sentral.

This is a small development comprises 20 units of 3-storey terrace houses.

The development is still pending for approval. More details to be available upon official project launch.

Project Name: (to be confirmed)
Location : Raja Uda, Butterworth, Penang
Property Type : 3-storey terrace
Total Units: 20
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: Airmas Group

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

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Categories: Raja Uda Tags: , ,

Grace Harmoni

April 20th, 2018 17 comments

grace-harmoni

Grace Harmoni, the latest affordable housing by Nova Land Development Sdn. Bhd. at Jelutong, Penang. It is strategically located near Nova Place and Grace Residence by Nova Mulia Development, easily accessible via Tun Dr Lim Chong Eu Expressway.

This development will see the demonstration of 34 existing houses and workshops for the construction of a 44-storey affordable housing. The new housing will offer 444 affordable and 310 low medium cost residential units. Indicative selling price start from RM100,000 onwards.

The project is now open for registration. More details to be available upon project launch.

READ MORE ABOUT AFFORDABLE HOUSING:

Property Project : Grace Harmoni
Location : Jelutong, Penang
Property Type : Affordable Housing
Built-up Area: 700 sq.ft., 850 sq.ft.
Total Units: 444 (affordable), 310 (low medium cost)
Indicative Price: RM100,000 (LMC), RM300,000 (Affordable) onwards
Developer: Nova Land Development Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

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Penang residential overhang more than doubles

April 18th, 2018 4 comments

penang-market-view

The residential overhang in Penang more than doubled to 3,916 units worth RM3.82 billion in 2017 from 1,896 units worth RM1.47 billion in 2016, the Valuation and Property Services Department (JPPH) said in a report.

In its “Malaysian Property Market Report 2017”, JPPH said the majority of residential overhangs in the state were condominiums and apartments priced at above RM500,000 per unit.

Overhang units are defined as completed properties that remain unsold at least nine months after completion.

“Similarly, the unsold [units] under construction recorded a 13.9% increase with 9,249 units (2016: 8,119 units). The unsold not constructed [units], however, decreased significantly by 97.3% to 80 units in 2017 (2016: 2,918 units),” said the report.

The primary market recorded fewer new launches with 3,879 units in 2017, down by 31.3% against 5,646 units in 2016.

Sales performance for the new launches last year – of which condominiums and apartments accounted for 65% – was promising at 39%.

As at end-2017, there were 497,396 existing residential units with another 44,046 units of incoming supply and 24,597 units in planned supply.

The industrial sub-sector also observed a higher number of overhang units.

According to the report, there were 110 overhang units worth RM178.85 million recorded in 2017, an increase of 22.2% in volume and 36.6% in value against 2016.

On the other hand, the overhang situation in the shop segment has improved significantly.

There were 90 units worth RM50.17 million recorded last year compared with 208 units worth RM151.12 million in 2016, a drop of 56.7% in volume and 66.8% in value.

Similarly, the performance of shopping complexes in the state improved with an average occupancy rate of 72.6%, higher than 69.9% recorded in 2016.

“The annual take-up was positive at 72,356 sq m, attributed to the high take-up in the newly completed Design Village Outlet Mall in Batu Kawan,” noted the report.

Overall, Penang’s property market performance softened further in 2017.

Total property transactions were down by 9.6% year-on-year to 16,592 while value climbed 8.6% to RM10.39 billion.

Market activity across all sub-sectors recorded downtrend except for industrial (+2%).

The commercial sub-sector led the decrease by 20.8%, followed by development land (-12.6%), and the residential (-8.7%) and agriculture (-5.6%) sub-sectors.

In terms of value, all sub-sectors trended upward with the exception of commercial (-11.9%) and industrial (-25.4%).

“The future outlook for the state’s property market is expected to be promising, supported by the on-going and upcoming projects. Infrastructure for transportation continues to be one of the key development agendas for Penang Island,” said the report.

Source: EdgeProp.my

Categories: Property News Tags:

Affordable Housing @ The Zen

April 15th, 2018 27 comments

affordable-the-zen

The Zen, the latest mixed development by Asia Green at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang World City integrated development by Tropicana Ivory. This development comprises around 2,000 condominium units in two 46-storey residential towers, 1,200 units of which are categorized under affordable housing. There are also several shop offices located at the first and second level.

The affordable units has a standard built-up size of 850 sq.ft. with 3 bedrooms and 1 car parking lot. It also comes with full facilities with swimming pool, 180 viewing sky deck overlooking the seaview and bridge, jacuzzi, children playgound, gym and many more!

This project is now open for registration, with an indicative price from RM 300,000 onward.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name : The Zen
Location : Bayan Mutiara, Penang
Property Type : Mixed development
Built-up Area: 850 sq.ft. onwards (residential)
Total Units: 1,200 (Tower A), 730 (Tower B), 86 (Shop offices)
Indicative Price : RM300,000 onwards
Developer: Asia Green

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