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Penang’s Design Village (Outlet Mall) opens for you.

design-3 My brother sent a photo of him with a cup of Coffee Bean coffee to the family LINE chat. He asked us to guess which Coffee Bean was he at. None of us could guess and then he revealed the answer. He was at Penang’s Design Village. Yes, that outlet mall which has since opened. It is 10.1 hectare and was built by PE Land (Penang) Sdn Bhd and marketed by Savills Malaysia. So, what are the brands that we should expect when we visit? Look at the three images that accompany this article. My brother did manage to buy some new clothes. Perhaps can keep these for the upcoming Chinese New Year. As for me, I would look forward to dropping by in my next Penang trip. Maybe in December. I have been to Johor Premium Outlet as well as to Mitsui Outlet. 
design-3I asked a few friends and none has gone to the Design Village yet. Perhaps one major reason may be that not a lot of people have been there or posting in their Facebook yet. In terms of brands available, I would rate them as above average ones but I did not see that many under the luxury category yet. Perhaps they are on their way since the outlet mall is only nearly 70 percent tenanted currently. According to Savills Malaysia Sdn Bhd managing director Allan Soo, “Many others are already on the way and Design Village is confident of achieving over 70 per cent commitment from more international and regional brands by year-end.” One major reason for JPO being frequented by Singaporeans is due to the luxury brands available and the discounts available.
design-2Many months back, a friend even asked if Batu Kawan would be a great place to buy with the opening of Penang Design Village. I think my answer remains the same. Buy based on why. If the most major reason for  us to buy a property is so that we have a mall right next door, then we should buy. However, if we are thinking of buying and to rent out to expatriates or even doing a AirBnB, I think it’s best to ask some of the experienced real estate agents for Batu Kawan to understand the potential. From my understanding, these two are not the best options currently because island remains more popular even among all my Penangite friends. Of course, always note that there are now more developments in mainland Penang and buying a good one earlier may be more advantageous than later. Happy shopping!
written on 25 Nov 2016
Next suggested article:   Penang: Secondary property market

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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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