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Sinaran Avenue @ Utropolis

September 21st, 2019 No comments

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Sinaran Avenue @ Utropolis is the third phase of 44.3-acre master-planned Utropolis development by Paramount Property at Batu Kawan, Penang. Strategically located along Bandar Cassia Expressway, about 5 minutes walk to Design Village outlet mall and KDU University College, the first intake of which will commerce Q1 next year. It is only 29km to the Penang International Airport.

This development will feature 16 units of 2-storey shop offices, with a standard built-up size of 3,875 sq.ft. Each unit has an indicative price of RM2.3mil onwards, expected to be ready by 2023.

OFFICIAL LAUNCH

29 September 2019, 11am – 5pm
Utropolis Sales Gallery @ Design Village Outlet Mall

– Please call 012-501 0733 to RSVP by 25 September 2019 –

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Project Name : Sinaran Avenue @ Utropolis, Batu Kawan
Location : Batu Kawan, Penang
Property Type : Shop office
Built-up Area : 3,875 sq.ft.
Total Units: 16
Indicative Price: RM2.3mil onwards
Developer : Paramount Property

Register your interest now to find out more

*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.)

Location Map:

 

The Official Launch of the Harmonious Lifestyle – Celesta Residency (21-22 Sept)

September 20th, 2019 No comments

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Celesta Residency is a modern and low density with 89 units condominium that exudes a high level of opulent sensation for those who seek for distinctive and luxury lifestyle.

Filled with opulence in every aspect, Celesta Residency exudes great excellence in style fits for individuals and families that long for ultimate luxury and relaxation in lifestyle. The gated and guarded living environment provides soothing freedom with serenity.

Celesta Residency offers a strategic development located along Jalan Sultan Azlan Shah, diagonally opposite three public schools, namely SJK(C) Kwang Hwa, SJK(C) Shih Chung and SMK Sungai Nibong, in the established township of Sungai Nibong.

As the development is under the privilege of Home Ownership Campaign (HOC), it offers an amazing experience to all house buyers. Despite its limited 89 units of residential condominium and the mix of commercial components surrounded, Celesta Residency is a freehold property with residential title.

Celesta Residency takes this opportunity to invite you to their Official Launch on 21-22 of September 2019 (11.00am – 5.00pm) at 1-2-10, Elit Avenue, Jalan Mayang Pasir 3, 11950 Bayan Baru, Penang, understand more of this perfect residency for yourself.

Project Details

  • Project Name: Celesta Residency
  • Location: Sungai Nibong, Penang
  • Property Type: Condominium
  • Indicative Price: RM652,800 onwards
  • Developer: Red Blue Development Sdn. Bhd. (Subsidiary of TGB Group)

Key features

  • Freehold with Residential Title.
  • 25-storey Condominium equipped with polished facilities.
  • Super low density with 89 units only.
  • With only 6 units per floor.
  • Gated & guarded development.
  • Located exclusively along Jalan Sultan Azlan Shah in the heart of Sungai Nibong is in close proximity to Penang International Airport and Georgetown.
  • Prime location of ultimate convenience with amenities such as Queensbay Mall, Setia SPICE Arena, schools, petrol station and many infrastructures located nearby.

If there is any enquiries, feels free to contact us or visit our website:

Contact number: 012-497 0009
Website: www.tgbgroup.com.my

 

 

Categories: Events, Property News Tags:

Ideal Property Group to acquire 1st Avenue Mall for RM153m

September 20th, 2019 No comments

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Ideal United Bintang International Berhad (IUBIB) has announced to Bursa Malaysia its proposed acquisition of 1st Avenue Mall in George Town at RM153 million last week.

The company’s subsidiary, I Homes Properties Sdn Bhd (IHomes), entered into a conditional sales and purchase agreement with 1st Avenue Mall Sdn Bhd (1AMSB) for the proposed acquisition of the property located along Magazine Road based on a willing-buyer willing-seller basis.

IUBIB, in a statement issued last week, said the agreement was signed after taking into account the market value of the property of RM220 million and the purchase consideration was at a 30.45 per cent discount of the market value.

1st Avenue Mall, opened nine years ago, has 407,076 sq ft of net lettable space and is sited within the inner city of George Town. It is connected to Komtar and another mall, Prangin Mall, through indoor pedestrian bridges.

In the same announcement, IUBIB said the proposed acquisition will result in the diversion of 25 per cent or more of its consolidated net assets into property investment holding, which is different from its core business of property development operations.

“As such, IUBIB will seek approval from the shareholders of the company at an Extraordinary General Meeting (EGM) for the proposed diversification in conjunction with the proposed acquisition,” it said.

It added that the proposed acquisition is the group’s first venture into property investment holding and it is confident that it will generate positive returns from appreciation in real estate prices and also from rental income from the mall which currently has a 90 per cent occupancy rate.

“The group intends to continue renting out 1st Avenue as a source of income and recognises that the property has potential to be redeveloped in future as it is in a prime location within the city of Penang,” it said.

The proposed acquisition and diversification are subjected to approval of shareholders at an EGM and other relevant authorities.

Source: MalayMail.com

Categories: Property News Tags:

Green City Garden Hotel & Residences

September 18th, 2019 No comments 中文版

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Green City Garden Hotel & Residences, a proposed luxury development in the centre of George Town by Green City Garden Development Sdn. Bhd. Strategically located on a half acre land along Macalister Road, adjacent to the People’s Movement Party headquarter building in Penang. It is only 2km away from KOMTAR, less than 15 minutes drive to Penang Bridge.

This luxury development will see the demolition of the existing building, for the construction of 29-storey building. It will feature a 100-room hotel and 52 units of luxury suites. Automated robotic parking system will be built to allow more car parking bays.

Project is still pending for approval. More details to be available upon official launch.

Project Name : Green City Garden Hotel & Residences (to be confirmed)
Location : George Town, Penang
Property Type : Mixed development
Built-up Size: (to be confirmed)
Land Area: (to be confirmed)
Total Unit: 52 (suites), 100 (hotel rooms)
Indicative Price : (to be confirmed)
Developer : Green City Garden Development Sdn. Bhd.

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.)

Location Map:

 

 

Interview with CM: Will Penang mirror Singapore by 2030?

September 17th, 2019 No comments

Penang Island is sometimes known to have some resemblance to Singapore. Both Penang Island and Singapore are separated from the mainland by a narrow strait with a lack of land for development. The government in both Penang Island and Singapore generally encounters similar challenges whenever there is a need to have a balance between economic development and environmental protection; making many individuals often use Singapore as a reference in topics related to urbanization in Penang.

Let’s hear from Penang Chief Minister on his views whether will Penang mirror Singapore by 2030.

FIND OUT MORE:
Penang CM speaks to Penang Property Talk on Vision 2030