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RM2 billion AirportCity and Aerotropolis development by Ivory

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RM2 billion AirportCity and Aerotropolis development by Ivory.

Anything which is in billions has to be reported yeah. Furthermore this is not in the Klang Valley or in Penang or Johore but it’s in Kedah. In this case, to be very specific it is in Kuala Muda! In case anyone is wondering what’s the potential of such a place, just need to note that a development would usually take years. Furthermore this is such a huge development.

Article in nst.com.my Ivory Properties Group Bhd will develop the residential components at AirportCity and Aerotropolis in Kedah, generating almost RM2 billion in gross development value. The AirportCity and Aerotropolis form part of the larger Kulim International Airport (KXP) development in Sidam Kiri, Kuala Muda.

The Penang-based developer said in a statement that the residential components would cover 55 hectares (ha) and it will be developed in a joint venture (JV) with ECK Development Sdn Bhd.

Ivory group chief executive officer Datuk Low Eng Hock said, “We look forward to opportunities to be involved in the development of commercial components down the line and are optimistic that the group’s involvement will create a range of attractive, cutting-edge architecture and environmentally sustainable commercial buildings with innovative yet pragmatic master planning.” Do read here for the full article: Article in nst.com.my

Yes, I still own a property by Ivory Properties

I bought this property, a condominium of 1,100 sq ft in Penang many years ago. Thus far, the offer price from the market is not up to my expectations, so will continue to rent it out. I used to tell all my friends about the ‘friend price’ if they like to buy. Actually, today I do not even want the offer if they hit the ‘friend price.’

That friend price was if they offered to buy many years ago. It’s not today. 🙂 Just suffice to say that if I were to sell even at the offer price which is lower than my friend price offer, it is still above the price I paid. So, at least that’s a good positive sign that property price in Penang has largely stayed intact. In the mean time, happy reading and following.

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