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Batu Kawan’s RM10 billion GDV by Eco World

A close friend forwarded a news which I read earlier. I guess she felt this may be the biggest thing to happen for Penang, especially where Batu Kawan is concerned. I do agree. I remember many months back someone told me that everyone should buy Batu Kawan because IKEA is coming. I said, please take note that IKEA is coming only in 2018, earliest. If you buy today, are you staying there? If answer is yes, by all means you should buy. If you buy today and intend to rent out, seriously, think again. The real reason why mainland is still lagging compared to island is because of ‘action.’ There’s little action in mainland when compared to island and when compared to Batu Kawan, I do not wish to comment.
However, what about Eco World Development’s RM10 billion gross development valued project in Batu Kawan? Okay, this may just be the first catalyst while waiting for more ‘actions’ to happen. Not many people would want to stay in a new place, especially if their neighbourhood is the only one there and there’s nothing to do beyond having a much bigger space compared to buying in island. Well, Eco World said they will be building residential and commercial properties. They also happen to have a very good image as a developer of great choice for many. Eco World chairman is also none other than Tan Sri Liew Kee Sin. Eco World is buying a 299.64 acre land from Penang Development Corp for RM730.93 million. They are also leasing another piece of 150 acres to build an international standard golf course with a MINIMUM of 18 holes and a club house. Now, what’s the chance of Penang hosting an international gold tournament? Quite a high possibility, really.
What happens if someone were to ask me again about buying Batu Kawan today? Haha. The answer remains the same, why not consider buying to stay? Why not consider buying today and moving there in a few years’ time? If you can answer yes to this, then buying today is totally risk-free and with very good potential for price appreciation few years down the road when they hand you the key. Any other reason than this, perhaps it may be better to wait to see what’s being launched by Eco World in the near future for the land that they have bought. Based on the usual speed, any land bought is not likely to be left idle. Just like many, I am waiting to drop by in the near future.
written on 19 Apr 2015
next suggested article: Penang Properties Update, Eco World, PDC and theme park

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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