IKEA Penang? It’s really coming – 24 months away?

Updated with latest update from Penangpropertytalk on 11th may 2017.

A few Penangite friends say it’s the key reason for them buying a property in Batu Kawan. Some say this will bring Penang mainland’s property attractiveness up to be on par with the island. It’s that brand called IKEA. (Yes, I love IKEA even if it shouldn’t be my main reason to buy a property of a few hundred thousand Ringgit) For the one in Damansara Mutiara, I have never seen it half empty before. In fact queues would only be very long or crazily long during weekends. There’s one planned in Batu Kawan Penang and it has started construction. In fact based on an article in Penangpropertytalk. Q1 2019.

Image source: IKEA

IKEA Penang is a store within a 245-acre development joint development by Ikano and Aspen Group. Kano holds 20 percent while Aspen the remaining 80 percent. (I think one provides the needed branding which is extremely important in all new development nowadays. I was just talking to a few industry friends yesterday that sometimes even for the same piece of land, two different developers would have totally different results. Branding provides trust and acceptance….)  Rojkjaer added, “We want to transform the vast swath of land in Batu Kawan into a new metropolis where people can live, work and play. A shopping centre anchored by IKEA is a key component of the development plan for AVC. The IKEA vision is to create a better everyday life for the people.” Of course, beyond just IKEA, the development would also comprise condominiums, office towers, an international school, a Columbia Asia Hospital and a 24-acre park. Total gross development value for AVC is RM8 billion and it should be fully completed within 10 years. Here’s the full article in Thestar. 

I still remember vividly when my wife told me that her Head of department for HR rented a huge lorry and drove all the way from Penang to Damansara Mutiara to buy HUGE quantities of IKEA furnitures and fittings for her factory in Bayan Lepas. I told her, ‘that’s a little crazy, right?’ Well, that’s how IKEA change people’s behaviour? Moving forward, in just 18 months more, this situation may no longer happen. Perhaps occasionally we may find some Ipohans driving to Penang’s IKEA to buy stuffs instead. Developments, especially the bigger ones do take time. If I am a newbie starting in Penang today, mainland should already be a main choice already even if island retains slight advantage due to the completeness of things I can find within. Let’s see if this is a tipping point that many Penang mainlanders have been telling me about. Yes, I have many good friends working in island and staying in mainland today. Cheers.

written on 7 May 2017

Next suggested article: IKEA was packed to the brim, still

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