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Thursday, November 3, 2016

Penang Star Property Fair at Queensbay Mall 2016

Developers all smiles with results

Great response: Visitors looking at the scale model displayed at the Ideal Property Group exhibition booth at the Fair at Queensbay Mall in Bayan Lepas, Penang.

GEORGE TOWN: Ten developers generated RM144mil in sales during the four-day Fair 2016 held at Queensbay Mall.

About RM60mil came from the properties marketed by Zeon Properties Sdn Bhd, which are Ewein Zenith’s City of Dreams, Aroma Development’s Starhill, Devoteshens Sdn Bhd’s My Sakura 28, Tawakar Group’s 98 Residence, Stallion Group’s Vos, and Bionic Land’s Prominence.

The sale of projects from Ideal Property, Asia Green, CI Medini and Aspen Group generated the remaining RM84mil.

Ideal Property general manager (sales & marketing) Nancy Teo said the turnout was not disappointing.

“Given the current economic challenges, we are satisfied with our sales, which was about RM15mil for the past four days.

“There are several hundred potential buyers with whom we need to follow up after the fair.

“They have indicated their interests to view our show units,” she said.

Asia Green creative director Mei Tan said the buyers for QuayWest and The Clovers were those who wanted to upgrade their lifestyle with a new house.

“We sold RM6mil worth of properties during the four-day fair.

“The QuayWest and The Clovers are respectively 50% and 80% sold,” she said.

CI Medini’s marketing director Datuk Seri Jacky Ker said the company generated about RM50mil in sales at the fair with the sale of 70 units of multi-storey shop units in the Ion Axxes project.

Developers such as IJM Land Bhd, Mah Sing Group Bhd, Sunway Bhd and Eco World Development Group Bhd also received overwhelming responses for their projects.

Mah Sing senior chief operation officer Seth Lim said a big pool of visitors were young families.

“Some of the buyers looked into getting a second property or explored investment opportunities.

“We are happy with the response as we were able to secure a few hundred registrations,” Lim added.

EcoWorld general manager Khoo Teck Chong said the group received hundreds of enquiries for the Eco Bloom project in Simpang Ampat.

“Taking advantage of the low interest rates in the market, we also plan to launch the RM8bil Eco Horizon and Eco Sun mixed-development projects in Batu Kawan next year,” Khoo added.

IJM Land senior general manager Datuk Toh Chin Leong said the group planned to launch the Waterside Residence project for the second phase of The Light Waterfront scheme next month.

“The sales of our current projects like the Trehaus in Bukit Jambul and Permatang Sanctuary in Bukit Mertajam should help us achieve the targeted RM240mil revenue for Penang.

“Last year, the revenue contribution from Penang was RM168mil.

“Next year we will launch the Senjayu in Jawi, 3 Residence at Karpal Singh Drive and The Terraces Condominium in Bukit Jambul,” Toh added.

Experts share nuggets of wisdom with house-hunting visitors at the fair

PENANG, acknowledged by CNN as one of the best places to retire in the world, continues to attract numerous interest in its property sector, said Zeon Properties group chief executive officer Leon Lee.

He said Penang partnering Temasek Holdings in developing the Penang Technology Park would create 30,000 job opportunities in the near future, and this would in turn boost the property demand.

“The state recorded 10% growth in arrivals via the Penang International Airport in 2014 from six million to 6.6 million in 2015. And it is expected to increase to eight million this year.

“A growing economy, international recognition from our various accolades, improved state policy and welfare as well as the moderate cost of living will continue to attract people.

“On the island, 67% of the land is occupied by hills and forest reserves which cannot be used for development. This is why property prices will continue to soar,” he said in his talk on ‘Penang Property Outlook: Why Invest in Penang?’ at the Fair 2016 in Queensbay Mall.

 Meanwhile, Prof Joe Choo said first-time home buyers should weigh their decision carefully in picking the property.
In her talk on ‘Feng Shui Tip to Enrich Your Life’, she advised those buying their second property for business or to upgrade to ensure that it faced the same direction as the first one because that was the direction where they made their money.

Property investors were also urged to bear in mind the ‘stay, work and play’ motto before buying properties.

Freemind Works founder and property investment coach Kaygarn Tan said an ideal investment should come from city living that integrates the way in which people live, work, shop and play.

He cited Bayan Lepas as a good example in his talk ‘How to Get Better than Average Rental Yield’.

“We have Queensbay Mall and the Bayan Lepas Free Trade Zone in the area.

“So getting a property here is a good option as the elements of work, play and shop will surely complement the living aspect.

“Remember, all the components must co-exist within a 5km-radius,” he said.

Meanwhile, Diligent Planners Sdn Bhd founder Vince Chia said young people should get their first home even if it had to come from the secondary market.

He said houses priced between RM200,000 and RM250,000 in the secondary market were considered good options.

“Servicing a bank loan of less than RM250,000 should be considered comfortable for a fresh graduate with a RM3,000 monthly income.

“After all, you will probably be staying alone at first. You can upgrade in a few years’ time.

“If you are getting a ‘start-up’ home, forget about getting a house worth more than RM700,000.

“It’s a burden,” he said in his talk titled ‘Easy loan approval like 1-2-3’.

Full-time property investor and trainer Rachel Lim encouraged the visitors to look at the rental and capital appreciation of properties before investing.

“Do not simply jump into an investment but instead look for fundamentally good properties.

“It is a ‘bargain sale market’ during an economic slowdown. We should be excited, grab the opportunity and buy good properties,” she said in her talk on ‘Boom or Burst 2017 Malaysia Property Market.

REI Group of Companies CEO and co-founder Dr Daniele Gambero spoke on ‘Penang Transportation Master Plan: The Secret Unveiled: 10 Years Gold Mine for Smart Propenomy Investors’.

LRT project boost for property near FIZ - Properties around industrial zone soaring in value due to upcoming LRT project

“One of them is the Trehaus project which comprises condominium villas and semi-detached villas,” she said.

PROPERTIES located within the proximity of the Free Industrial Zone (FIZ) which has been earmarked for the LRT line were the most sought-after at the Fair 2016 in Penang.

C.M. Ong, 32, who works in Bayan Lepas, said he was looking for a high-rise unit near the FIZ as an investment which could generate better yield in rental.

“It is good to consider a location where there will be major infrastructure developments.

“The area is also close to the Queensbay Mall.

“I understand that the property value in FIZ has shown a steady increase for the past five years due to the number of fresh amenities in the area,” he said yesterday.

He was checking out the condominiums in Tropicana Bay Residences in Bayan Mutiara by Tropicana Ivory Sdn Bhd.

Air freight clerk Naseem Ali Shaik Othman, 38, said the Triuni Residences within The Sanctuary masterplan by the Runnymede Group of Companies offered the best of both worlds as an urban resort condominium.

“The appeal is the location in Batu Uban, where it is easily connected to the Bayan Lepas area and George Town. We like the urban setting, the sea view and resortstyle amenities,” he said.

The father of four said the gated and guarded safety feature would also provide a safer environment and community to raise a family.

Administrator Nor Syahira Roslan, 23, said her preferred location was Bukit Jambul as it was close to her parent’s house.

“I would prefer a landed property as it offers better privacy.

“The value of a landed property, as I understand, also appreciates faster and is more stable.

“The Bukit Jambul area has a wide range of landed properties up for sale.

“One of them is the Trehaus project which comprises condominium villas and semi-detached villas,” she said.  - The Star

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