Low density, huge in size and RM775 per sq ft in Penang

Are you thinking about Penang properties? Do you like a really low-density luxurious project within the island of Penang for RM775 per sq ft? Even the location is considered prime by many Penangites. It is in Tanjung Bungah. Well, there’s one from a prominent Penang based developer, Hunza Properties Bhd. The development is known as Alila 2 condominium. As per reported in The Star online, it’s group managing director Khor Siang Gin said that the group is promoting its 9.8-acre project in Indonesia, Hong Kong and Singapore early next year.

The few key attractions include ONLY 270 units, generous sizes of between 1,900 sq ft and 3,300 sq ft and prices starting from RM775 per sq ft. Yes, the final price is definitely out of the reach or the majority but their target market would be a totally different segment altogether. Hunza would also be allocated another three acres of untouched hill land for recreational activities within the development. The development would also be aiming for the Green Building Index certification. Currently, 30 percent of Alila 2 has been sold.

Based on the prices, I think going overseas is definitely a needed step. It would also give that ‘multi-national’ feeling which is definitely a plus as Penang grows slowly as a world property destination. Truth is, London, Melbourne, Singapore did not become a world property market because only the locals buy….. However, I have yet to hear about Penang becoming a favourite for Singaporeans. I always believe that for any Malaysian cities to start becoming internationally acknowledged as a property destination, it should start with Singaporean buyers. Happy buying one if you happen to be a Singaporean who intends to stay in a culturally richer island with a real stretch of beach. Yes, where you can suddenly become 3 times wealthier too where money is concerned.

written on 16 Dec 2015

Next suggested article: Landed in Penang? Be prepared with lots of money

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