Set for value appreciation

Cool design: An artist's impression of Permatang Sanctuary in Bukit Mertajam, one of IJM's projects.

FUTURE residents of the Pearl Regency Condominium can look forward to a luxurious and cosmopolitan sky-high lifestyle when IJM Land Bhd’s iconic development at the MetroEast Udini is completed at the end of 2013.

Located on a 2.78-acre parcel of land and a stone’s throw away from Tesco and e-Gate along the coastal highway, the 35-storey freehold mixed-development project comprises residential and commercial components with a gross sales value of RM244mil.

Its residential units, in 10 different layouts ranging in size from 1,313sq ft to 2,131sq ft and priced between RM734,000 and RM1.4mil, have been well received thus far. Currently, only limited units are still available.

According to IJM Land northern region general manager Toh Chin Leong, 15% of those already taken up are from foreign buyers, testament to the project’s centralised location, innovative design and luxurious finishing.

A gem: Toh showing off a model of the company's Pearl Regency Condominium.

“For today’s lifestyle, people also like to live close to amenities such as supermarkets, F&B and retail outlets, and our location makes it very convenient for them.

“Most places on Penang island are also within easy reach, while the Penang Bridge and the mainland is also nearby,” he said.

All units come semi-furnished with quality fittings — from air- conditioners to kitchen cabinets, ovens, refrigerators, gas hob and hoods, water heaters and wardrobes — that saves residents the headache of hunting for furniture later on.

A comprehensive set of facilities ensures that residents will always have a haven where they can return to. These include a swimming pool, Jacuzzi and pool bar, children’s playground, barbeque pit, gymnasium, reflexology path, putting greens, games room, reading room and community hall.

One is also in touch with nature, with a maze and sky gardens adding a touch of lush greenery. Otherwise, one can simply admire gorgeous panoramas of the channel from the viewing deck.

“On top of that, units have unobstructed views of the sea,” Toh added.

Toh believes that with their nearby The Light waterfront development poised to be a small city in itself and change the entire skyline, it will have positive knock-on effects for the entire area, especially in terms of value appreciation.

“For most of our projects, from the day they’re launched till the day we hand over the keys, we’ve seen appreciation of easily between 30% and 50%.

“Together with our excellent after sales service, buyers have great confidence in our projects,” he said.

As land on the island is scarce and prices of materials on an upwardly trend, in addition to Penang become more well-known internationally, he is optimistic about market prospects and advises prospective home owners to take the plunge once they’ve found something that fits their budget and location needs.

Patsy Lee, the senior manager of sales and marketing, added that specially for the four-day Star Property Fair, the company is offering zero-interest during construction, and free legal fees on sales and purchase agreement and loan. Buyers also get a free utility room averaging 40sq ft, located at the basement, for convenient storage purposes.

Also, the commercial component of Pearl Regency is set to be launched in the fourth quarter of the year, with a GSV of RM80mil. It comprises 76 lots ranging in size from 377sq ft to 2,852sq ft and priced from RM310,000 to RM2.2mil.

Upcoming projects targeted to launch by year-end are The Address at Bukit Jambul comprising low density Boutique Condos and four-storey Duplex Loft, and Permatang Sanctuary at Bukit Mertajam, a 131-acre township, with seven phases and four themed parks.

IJM Land is also sponsoring RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest at the Star Property Fair.

Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to 24.

To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.

The fair, to be open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd. Admission is free.

By TheStar