4 New Residential Properties Launched In Penang In Q1 2022

By: Fahri Ahmed
11th May 2022
Property News

Penang is famous for its tradition and heritage, but for first-time visitors, the colonial buildings and the Chinese and Indian ornate houses are the main attention grabbers. The state experienced a slight drop of 1.54% in housing transactions in the last leg of 2021. However, the market is active, with several new launches in the pipeline in 2022.

Here are 4 residential launched in Penang in quarter 1 of 2022 that homebuyers must watch out for:

  1. Ideal Venice Residency at Island Glades

    Image credit: Ideal Property

    Ideal Venice Residency is the second phase of the PR1MA affordable housing development by Ideal Property Group. Located at Island Glades, the first phase, Ideal Residency, is slated to be completed in 2024, and now, the second phase, Ideal Venice Residency, is in progress. At a starting price of RM300,000, it offers an affordable buy for young and first-time homebuyers in Malaysia.

    The property has 2 blocks with 46 storey residency towers. The blocks will develop 1,632 affordable houses with 6 levels of car parking podium and 2 levels of facilities. The buyers can choose 2 distinct layouts, each with a built-up size of 850 sq ft. Complete with a family lounge, reflexology path, yoga room and community hall, the development has 17 facilities altogether.

    It also has a strategic location near the intersection of Jalan Bukit Gambir and Jalan Lembah. Just 5 minutes away from the Penang bridge, the building is very near the renowned University of Science Malaysia (USM). It is also close to Lotus shopping mall, Sunshine Square, several medical institutes, golf courses, hotels and other public amenities.

  2. Rubica at Harbour Place

    Image credit: Rubica

    Rubica is a serviced suite apartment in Harbour Place. It is OSK Property’s new launch in Butterworth city centre. The building has 34 storeys with a built-up size between 946 sq ft and 1,335 sq ft. Each unit has 3 bedrooms and a balcony.

    The property is built with low-density apartments and a facilities podium on level 11. Close to the famous Jalan Chain Ferry and Jalan Raja Uda, the building is located in a mature neighbourhood surrounded by plenty of amenities.

    It is just 1 kilometre away from Penang Sentral and Butterworth train station and 2 kilometres away from the ferry terminal in Butterworth. As such, the place has excellent accessibility. It is also close to many schools, colleges, shopping malls and medical centres within a 3-kilometre radius.

    Slated to be completed in the second quarter of 2022, registration for Rubica has already started, with primarily first-time buyers showing an interest in the development.

  3. Lucerne Residences at Bayan Lepas

    Image credit: Ideal Property

    Lucerne Residences is the second project launched by Ideal Property Group in the first quarter of 2022, slated to be completed in 2026. Located in Bayan Lepas, the upcoming development will have two blocks of 36 storey condominiums comprising 480 residential units and a 5 storey parking podium.

    With an indicative starting price of RM663,900, the property is made for middle and upper-class citizens of Penang. The developer designed the units with a European living concept with a build-up area of 1,100 sq ft. It also offers 17 facilities to facilitate residents, including a pool deck, clubhouse, fitness stations, and 24-hour security.

    Positioned in a strategic location along Jalan Tun Dr Awang, adjacent to The Amarene condominium, the place has easy accessibility. It is just a short drive from the Penang Airport, with nearby schools and public amenities for residents’ convenience.

  4. The Meg at Andaman Island

    Image credit: Pavilius

    The Meg is the first project in Andaman Island, a highly anticipated prime reclaimed island of Seri Tanjung Pinang Phase 2A by Eastern & Oriental Bhd (E&O). Located just across the Gurney Drive, this serviced residence will have two towers. Tower A will comprise 27 stories, while Tower B will have 34 levels.

    Combined, the property will comprise 1,020 residential units with innovative layouts. The build-up area of each unit will be between 567 sq ft and 879 sq ft, suitable for young executives and new families. The property is being developed by Persada Menari Sdn Bhd, a subsidiary of E&O Berhad, over four acres of land with an indicative starting price of RM500,000.

Has this article been helpful for you? Tell us what you think, and stay tuned to the Guyub news portal to know about more such latest launches in Malaysia.

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