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Aurea @ Eco Sun

Batu Kawan/ 19 July 2024 No comments

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Introducing Eco Sun, a premier 74.4-acre mixed-development by EcoWorld, situated in Batu Kawan, Penang’s rapidly growing third satellite city. This strategic location provides seamless access to major industrial and commercial hubs, including Batu Kawan Industrial Park (BKIP), BKIP 2, the upcoming BKIP 3, Bukit Minyak Industrial Park and Valdor Industrial Park. Scheduled to launch in 2024, Eco Sun is set to leverage Batu Kawan’s exceptional growth potential and dynamic economic landscape.

As the second project by EcoWorld in Batu Kawan, Eco Sun builds upon the success and strong market presence established by its predecessor, Eco Horizon and promises even greater opportunities for growth and investment in this emerging city.

Eco Sun’s maiden commercial offering is Aurea, 2-storey shop lots with individual titles. With only 96 units available, these shop lots offer a rare chance to establish a foothold in this vibrant and expanding area.

Visit the EcoWorld Gallery @ Eco Horizon or register now to get detailed information and secure your opportunity to own a unit in this prestigious development.

Ensure your spot in Eco Sun, —Batu Kawan’s premier mixed-development and EcoWorld’s second landmark project in this booming city. Act now to be part of this exciting venture!

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Project Name : Aurea @ Eco Sun
Location : Batu Kawan, Penang
Property Type : Commercial
Land Area: 22’ x 65’ onwards
Total Units: 96
Indicative Price: (to be confirmed)
Developer : Eco World

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SITE PROGRESS: Lucerne Residences (July 2024)

Property News/ 18 July 2024 No comments

Lucerne Residences

About Lucerne Residences

The final phase of residential development by Ideal Property Group at Ideal Vision Park in Bayan Lepas. It is just a short drive to Penang International Airport, 10 minutes walking distance to Straits International School. The project will see two blocks of 36-storey skyscrapers featuring a European living concept. It offers 480 residential units with a 5-storey parking podium.

Find out more about Lucerne Residences

Subscribe here for updates on this project and other property news

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

Malaysia’s property sector shows strong performance in 1H24

Property News/ 17 July 2024 No comments

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Malaysia’s property sector has demonstrated commendable mid-year performance, signalling a promising trajectory for the industry fuelling by strategic developments and growing investor interest, according to Knight Frank Malaysia.

Its group managing director Keith Ooi cited the robust economic growth, significant investments and adaptive market trends as key catalysts supporting this growth.

“Malaysia continues to show promising growth prospects, bolstered by strategic investments, infrastructure improvements and evolving market dynamics,” he said.

The global property consultant released its analysis, titled Real Estate Highlights First Half of 2024 (REH 1H 2024) today, revealing a dynamic and resilient market across residential, office, retail, hospitality, and industrial sectors.

During the REH presentation, Amy Wong, executive director of Research and Consultancy, said the high-end high-rise residential segment in the Klang Valley and Johor saw increased growth in transactions and values.

She highlighted that in the first quarter of 2024, a total of 3,413 residential units sold for RM2.8 billion, marking a 19.2 per cent increase in volume and a 19.3 per cent rise in value.

Three high-end condominium projects were completed during the quarter, adding 1,846 units to the market.

“Future completions in the second half of 2024 (2H 2024) will add some 5,866 units,” she said.

In Johor, growth in transaction volumes and values were recorded in both the condominium/apartment and serviced apartment categories.

“Several high-rise residential projects were launched, reflecting a vibrant market driven by strategic developments such as the upcoming Johor Bahru-Singapore Rapid Transit System Link,” she noted.

Meanwhile, the office sector continues to draw multinational corporations, buoyed by competitive rental rates, a skilled workforce, and robust government support for the digital economy.

Director of Office Strategy and Solutions Naythan Chong said in the Klang Valley, the office sector experienced modest improvements in occupancy and rental rates, driven by tenant relocations and a resilient market in Kuala Lumpur Fringe and Selangor.

In 1H 2024, two significant buildings were completed, adding 0.4 million square feet (sq ft) of space to the market and bringing the total space to 117.9 million sq ft.

In Johor, stable rental rates were observed in Johor Bahru City Fringe, while in Penang, the office space supply remained stable with 6.9 million sq ft on Penang Island and 1.7 million sq ft in Seberang Perai.

Three new office towers are expected to enter the market in the 2H 2024 in Penang, including Sunshine Tower, GBS by The Sea, and a 34-story office suite building in Gelugor.

On the retail segment, director of retail management and consultancy Yuen May Chee said the trends indicate a continued expansion in the Klang Valley, Johor, Penang and Sabah.

Nevertheless, she sees the ringgit and inflation performance, high interest rate, rising costs and rental will add some pressure on consumer spending and operating costs.

As for the industrial segment, executive director of Land and Industrial Solutions Allan Sim said Malaysia’s industrial property market is witnessing robust demand, particularly for high-quality sustainable developments.

“The manufacturing sector is projected to grow by 3.5 per cent in 2024, supported by the recovery of export-oriented industries and sustained growth in domestic clusters,” he said.

Sim noted a marked shift towards high-quality, sustainable logistics spaces, contributing to a slight rise in rents.

Institutional investors are also increasingly targeting industrial assets in the Klang Valley for their stable returns and yield-accretive potential, he added.

In Johor, the rapid growth in the data centre market is driven by its proximity to Singapore as well as the launch of the Johor-Singapore Special Economic Zone in January 2024.

Additionally, Penang is expected to become a hub for high-tech industries, particularly in semiconductor and electronics manufacturing.

Source: Bernama

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Berjaya Land unveils Jesselton Courtyard: A new pinnacle of luxurious living in Penang

Property News/ 17 July 2024 No comments

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Berjaya Land Development Sdn. Bhd., a wholly-owned subsidiary of Berjaya Land Berhad, proudly announces the pre-launch of its latest premium residential development, Jesselton Courtyard at Jesselton Selatan. This exclusive project promises to redefine luxury living on Penang Island, offering an unparalleled lifestyle amidst the affluent surroundings of Jesselton and Pulau Tikus.

Strategically situated next to the esteemed Penang Turf Club and Kensington Gardens, Jesselton Courtyard provides residents with convenient access to Penang’s major amenities and attractions. These include reputable schools such as Saint Christopher International School and Penang Free School, restaurants, shopping centres and state-of-the-art healthcare facilities like Gleneagles Hospital and Island Hospital. This prime location ensures that residents can enjoy both the serenity of a prestigious neighborhood and the vibrancy of urban conveniences.

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Spread across 11.9 acres, Jesselton Courtyard comprises 239 units within a gated and guarded community. The development emphasizes a low-rise, low-density living experience, with buildings limited to a maximum height of five levels. This design approach not only ensures privacy and security but also aligns with green building requirements by utilizing natural lighting and ventilation. The courtyard-themed homes draw inspiration from Georgetown’s heritage, preserving Penang’s architectural culture while committing to sustainability.

The luxury development offers 32 units of four-story Courtyard Homes, starting from 6,649 sq ft and priced from RM6,476,400. Additionally, there are 207 units of 1.5 and two-story Courtyard Villas, starting from 2,734 sq ft and priced from RM2,870,000.

“Jesselton Courtyard is an exceptional investment opportunity for discerning property buyers. This development, located in one of Penang Island’s most sought-after addresses, offers unparalleled value through its blend of luxurious, low-density living and prime freehold land. The spacious design of the Courtyard Homes and Villas ensures a premium living experience and enhance the property’s long-term value. Jesselton Courtyard stands as a symbol of refined living and a wise investment in both lifestyle and future returns,” said Syed Ali Shahul Hameed, Group Chief Executive Officer of Berjaya Land Berhad.

Designed for multi-generational living, Jesselton Courtyard features a dual-key concept with shared gathering spaces and private ensuite bedrooms – a hallmark of Berjaya properties. This design seamlessly blends the convenience of condominium living with the appeal of landed property. Each unit also provides ample parking for four to seven cars, catering to the Malaysian preference for multiple vehicles. The development is expected to be completed by June 2028.

Beyond luxury, Jesselton Courtyard exemplifies a commitment to quality and excellence. The use of premium materials and meticulous construction techniques ensures a superior living environment, making this development a prime investment opportunity.

Interested? Find out more about Jesselton Courtyard.

The master planner of modern townships

Property News/ 16 July 2024 2 comments

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The Penang Development Corporation (PDC) has significantly impacted Penang’s industrial growth, transcending job creation and attracting Foreign Direct Investments (FDIs).

The corporation has played a pivotal role as the master planner and developer of new townships, driving urbanisation.

PDC chief executive officer Datuk Aziz Bakar said, to date, the increasing land value in Bayan Baru, Seberang Jaya, and Bandar Cassia attests to PDC’s success as a master builder and developer.

“These townships reflect PDC’s legacy of foresight in creating innovative, sophisticated, and sustainable communities.

“We continue to enhance the quality of life for Penangites across generations, aligning with the aspirations of Penang2030 to foster a family-focused, green, and smart state,” he said recently.

Commenting on Bayan Baru, Aziz said Bayan Baru stands as PDC’s first groundbreaking township on the island.

“Developed as a self-sufficient town, Bayan Baru offers a comprehensive town sub-centre with easy access to commercial, social, and recreational facilities.

“Officially opened in 1975, Bayan Baru embraced a new economic paradigm, partnering with private developers to create more housing, commercial, and retail developments.

“Today, Bayan Baru is poised to become a major epicentre for the Global Business Services (GBS) sector, housing over 60 GBS companies. PDC’s future plans aim to attract more talent and advance development, continuing to enrich the lives of Penangites,” he said.

Following Bayan Baru’s success, PDC developed its second township, Seberang Jaya, the Penang mainland’s first integrated and planned township.

Aziz said Seberang Jaya, launched in 1976, offered a variety of modern facilities and amenities, including playgrounds and open community areas.

“In response to the surge in commercial activities, PDC constructed SP Arena in 2015, a multi-purpose hall for MICE (Meetings, Incentives, Conferences and Exhibitions) events.

“Seberang Jaya, a focal point for many industrial clusters, continues to evolve with a thriving mix of commercial and residential projects by PDC and private developers. This vibrant township is set for more advanced developments to accommodate its growing population,” he highlighted.

He also spoke about Bandar Cassia, PDC’s latest township development project.

“PDC has renewed its commitment to developing futuristic townships where people can live, work, play, and learn in an integrated, eco-friendly environment with well-connected infrastructure. This vision is exemplified in Bandar Cassia, Penang’s first smart eco-city.

“Bandar Cassia is evolving into a new business district and a major hub for medical, educational, and lifestyle services.

“This one-stop centre for living has become a magnet for talent, population growth, and investment,” Aziz added.

Source: Buletin Mutiara

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