The Light Collection II
It begins with the Penang essence which has drawn and charmed generations of visitors. It is distilled from the colourful convergence of diverse cultures on Penang’s waterfront – an eclectic mix of Malay, Chinese, Indian, Nonya Baba, Jawa-Peranakan and European traditions, architecture, food and festivals. The Penang essence is not to be found anywhere in the world.
In THE LIGHT, the Penang essence prevails, inspiring fresh interpretations of the island’s endearing appeal.
Today, Penang’s waterfront is a favourite haunt for families and friends, morning, noon and night. Cool, evening strolls, visits to eating stalls here, or simply being there to watch ships and yachts go by are a national pastime. The magnetic allure of Penang’s waterfront and the lure of water will be made to beckon even more strongly by THE LIGHT.
By having one-third of the area actually covered in water; the Pier-like buildings of THE LIGHT COLLECTION II truly seem to be a float. Resembling a hand reaching out to touch the sea, the wharf-like Pier Apartments radiate like outspread fingers opening up to enjoy the best-possible light and marine-view from all three sides.
Property Project : The Light Collection II @ The Light Waterfront
Location : Off Coastal Highway, Gelugor
Property Type : Luxury Condominium
Land Tenure : Freehold
No. of Blocks : 5
No. of Storey : 7
Built-up Area : 517 – 3,617 sq.ft.
Total Units : 297
Developer : IJM Land Berhad
Website : www.thelightwaterfront.com
I managed to buy a studio unit and have never felt happier. The reason being that IJM is a trusted & reliable developer and I am confident that The Light will be a successful project and will be the Address in Penang in time to come.
I am sure that the value of the Light will appreciate significantly and this area will be full of lively activities. The residents will marvel and enjoy all the facilities offered. It will be the talk of the town and I would encourage successful buyers to keep it for long term appreciation. I would not be surprised that those sea facing studio units will touch RM1 million.
I have a mix opinion on this. I think the value will definitely appreciate, but I’m not sure if it is easy to find a buyer.
Well, latest advert in mudah properties as of 27 July 2011 indicates that a studio unit of 614 sq ft (517 + 97 garden) is RM 680k. Note that this is not even a sea facing studio. This is priceless in the near future when IJM completes the commercial section.
The initial launching price for the studio units was >=700psf, almost 50% of them were already being pre-booked by either own staffs or investors before open to public. People queued 5 days earlier, and all snapped out within 1 hour by the first `20 people (limit to 1 studio per person). The perks are all units come with 2 car parks, save maintaince fees (high at 0.38sf) from smaller built-up and yet get to enjoy all the shared facilities within the light point-collection precinct (>5 swimming pools, gyms, and coral reef, sky launge etc) as the rest of owners who easily paid >800k. Immediately after a week there were poeple offer to let go at `800psf to clinch a quick profit, not sure if any taker. And now asking for >1000psf, this is kinda crazy. Base on the common practice by IJM, they will price their property at 30% higher than initial during Bumi release, should be looking at ~900psf, >1000psf is deifnitely over-demanding. If the commercial portion really take-off and success, price will certainly boom again.
Wah! I have been watching the development of The Light closely and noted that Phase 1 is going on smoothly. There is no doubt that IJM will deliver what they have promised. Upon the completion of the commercial portion, this area will definitely a shining gem in the Pearl of the Orient. Even The Light Linear price has appreciated greatly and it is due to handover to the buyers in the third quarter of 2012. I bet the going rate at that time should be > 800k for those above 10 th floor level.
I reckon this is the place to retire. The view is fantastic with the iconic Penang Bridge at the background. What a view when the Bridge is lighted up at night. I understand that upon completion of The Light, there are many water features teeming with ornamental fish such as Koi species. The environment is holistic, idyllic and a perfect setting after a hard day of work. I may consider investing in this property which has been dubbed to be the best waterfront in South East Asia. I believe and trust IJM will accomplish this promise as they are trustworthy and with high integrity as proven in its track record.
Not only with ornamental fish in the numerous water features in The Light. If I am not mistaken, about 2 acres of the sea fronting The Light has been designated for the breeding of corals and this area will be lighted up at night. I am not sure of the status of IJM’s engagement of Australian specialist on this assignment. Can someone update me on this?
If this materialise, this is the only property developnment area in Malaysia to have corals and it is just fantastic besides the proposed wind generating energy structures (something like windmill) prominently constructed with the magnificent Penang Bridge as a background. What a paradise!!
Interesting… Based on the nature of Penang’s super crystal clear water, I bet IJM can put up fancy lighthing to showcase the corals at night? Very interesting…..
heard IJM will be putting up 2 yatchs (or boats?) for The Light residents to rent. Sounds luxury, perhaps somebody can confirm this. It would really be terrific to imagine being an owner and able to invite few friends and relatives for a weekend partying in yatch, with plenty bikinis and red wines to savour..really cool..a tycoon kind of pass-time and you do not need to be one to enjoy it.
cheapest unit still available?
@Kee
you are referring to the studio? No more of course, people queued a week earlier and snapped out within hours after the launch. I do see people letting go for subsale, but asking a crazy 1000psf.
@jeff
besides 2 boats, there will be a lounge with commercial kitchen near collection 3, facing bridge. You can hire chef, invite friends, taste wines and hang out there with little rental. The light collection will be one of the most prestige place to stay in penang.
@jack
Very exicting indeed…cant wait to see the completion of the project. Its quite amazing to see how things are taking shape currently, no doubt it would be one of the most prestigous place in the island.
Freehold, residential title, seafront, >=2 car parks, world class design and architecture with commercial development next to it, I am blessed that i didn’t miss the boat and get to purchase one early with 570psf. When comparing to other new projects coming up which going to ask crazy price but nothing special to offer – such as the Raffles tower in bukit gambier, 750psf; The landmark, 1000psf. Southbay plaza >=600psf; city residence 700-750psf; The Darra >=570psf; and Penang World City >=600psf, The Light is indeed a good buy for me.
@ghh
No doubt it is a good buy once you compare the light with other developments in Penang. I am Malaysian and I want to stay at place where is convenient. I can access to George Town, Airport, Shopping Mall, Butterworth within 15minutes. Have you heard about the U turn (Expected 4th quarter 2012) IJM will build before The View?
VERY GOOD IMAGINATION.
i would like to offer 1.3mil for a unit, anyone willing to let go??
@thor
1.3mil for what type of unit? A, B, C, D or E?
type B
@thor are you sure? I got 2 units here, how to contact you?? my number is 012-4564889
thor…mai hao sioa la
Hahaha…so many jokers here are dreaming…
You guys made me laugh…..
Initial selling price for type-B was in the range of 850-900k in average if i am not mistaken, depending on the #car parks, built-up, floor levels and etc. 1.3mil does sound way too high, at least at this point of time.
So there are 3 possibilities on Thor:
1) Serious buyer and willing to pay that price;
2) Serious buyer but offered the wrong price;
3) Hao Siao
@weird
lets see at the end who will laugh all the way, the genuine owners, or sour grapes like you.
i was thinking to offer my unit at 1.35mil for thor to negotiate ….
juz wonder how much selling price for type C 1701sf?
the light linear – anyone wants to let go?
Thor, i will never let go…this is really really fantastic place to live, but how much u offer??
I have one studio ground floor unit with garden asking 5xxk if interested please leave your name and number. studio unit only available at block A . The balcony facing light linear.
i can offer 3mil. who wants to let go?
How to look at the Feng Shui for the Studio, is it depends on the where the balcony facing ? Or depends on the main entrance ?
Any studio unit for sale ? Please contact me, goatleong@yahoo.com
any 1500 sqf area for sale?
any 1500 SQF AREA FOR SALE
Hi there, I’m interested in studio unit for The Light Collection 2. Please let me know if you have any. Thanks. (serious buyer!)
Hi JV I have one studio unit that wanted to sell !! please leave your number or email so that I can get in touch with you.
Hi Good day to all,
Straight to the point, i am looking for a unit for 13 floor or above, for own stay. I urgently need it and i could immediate paste booking for you. I am budgeting RM840K for 13 floor and above.
If you are thinking to let go your unit, kindly drop me a mail and i will get back to you soon.
Anyway, i am not an agent.
Thx a lot.
EmailAdd: Alex_weng2000@yahoo.com
Rgds………. alex
What if tsunami happen?
@Mars
All die or “half-dead.”
Hi Good day to all,
Straight to the point, i am looking The Light Linear for a unit for 13 floor or above, for own stay. I urgently need it and i could immediate paste booking for you. I am budgeting RM840K for 13 floor and above.
If you are thinking to let go your unit, kindly drop me a mail and i will get back to you soon.
Anyway, i am not an agent.
Thx a lot.
EmailAdd: Alex_weng2000@yahoo.com
Rgds………. alex
@Buyer
So scary, but then why so many people still dare enough to buy house beside the sea???
@Mars
Some also prefer higher floor and never thought that they will be the last
batch to evacuate during earthquake and disasters. In a way is good also,
if not developers will find it hard to sell.
Trademark of ” chiak boh tiuk pu thoe Kong pu thoe shuee ” …. Try harder next time ok…
Building on reclaim land is already a problem…but immidiately building on it = good luck to buyers. Pray that the land will not sink and cause cracks…
Drove into the site last week and I was amazed to see how much things have progressed so far. Overall things are taking shape nicely and really given me the exclusive and luxury feel. The huge waterfall infront of The Light point’s lobby was a big hit, really impressive. Light collection I is almost ready and only pending for interior touch up, the outlook is impressive. Light collection II pretty much reaching the mid to end stage. Lands being cleared currently at the commercial site and understood that the construction, such as the waterfront convention centre, will commence mid of this year. Also noticed that IJM is constructing the linear park right infront of the project site and next to the highway, very nice, this is going to be a perfect place the the residents to enjoy greenary and to get some workouts.
No doubt this is going to be one of the most prestigous and distinctive neighbourhood in the island. Another project which given me the same feeling 3 years back was Seri Tanjung Pinang.
I am just about to pay the booking fee for a roof top garden duplex apartment looking over the Tropical Waterlake, sea and bridge, for Light Collection III.
I am concerned about the area near the bridge? Even with this development is the area a desirable place to live? The Light is a fantastic addition to Penang Skyline and will result in positive yields when phase 2 is complete, most likely i hope, but is this area too far from Straits Quay, Gurney and Tanjong Bungah areas?
There are not many roof garden duplex apartments/condos in Penang. Most condominiums have large balconies. I only know of the Reef near Batu Ferringhi. So I feel I have re-selling power and something more unique than just a condo. Anyone agree?
Is the Light a better investment than a property in Batu Ferringhi?
I am thinking of flipping my property when the project is finished. Is this a good idea in current climate of Penang Property market.
Anyone advise if BLR is going to rise over the next 3 years?
Thank you in advance for any advice or thoughts!
My advise is not to buy it if u plan to flip
Expats wont be interested in staying there.
They prefer tg tokong.gurney drive,tg bungah and batu ferringhi
@reward
hi,i am serious buyer.please contact me at 0174998283.tq
Contact me 0125255213
Contact me, Tai 0125255213,
Anybody selling 1367 sqft or 1567 sqft?
@zooey
1367sf was about rm800-850k during launch ie 600psf..at least 2 car parks and all direct pool view..no sea view..looking at pwc pricing, I expect it will be at least 800psf when vp next year. Also there is limited units of this size. Best is to follow up with ijm when they release bumi unit, which I think will still be below 800psf
@reward
I am seriously interested for the studio unit, my email: kentleekentlee@gmail.com
Im interested in studio unit or type A.
pls email me
barnegene@hotmail.com
Im agent here, i have buyer looking to purchase, any seller wish to let go, please contact me
Jason Goh
First Home Estate Consultant Sdn Bhd
0124297310
thyeliang@gmail.com
@Pwc
slight correction: There are type B units which not facing the pool
anybody know when is the bumi unit released?
managed to sneak in and take a look at the collection precinct, very impressive instead. In terms of design and quality definitely top of the class. However the studio units really look very small, not so obvious when looking at the brochure but the real thing really surprised me – yes, shoe-box is the best word to describe them. Noticed that those ground floor units facing pools from block C and D are not really “grounded”, they seem to be elevated above ground, so the garden is gone? This puzzled me a little bit. Or perhaps I am wrong the swimming pool foundation will eventually be lifted up and adjoin to the ground floor? Somebody pls enlighten me.
Those blocks siitted above the sea also look impressive. I believe this is the first ever residential development in penang to have units built this way.
The grand landscape waterfall right after guard-house of the Light Point is just impressive.
The outside bicycle and jogging tracks also taking shape nicely, one end will be extended to komtar and the other end to queensbay according to the blueprint – great idea.
@sp
I missed the boat during the launch so I am equally anxious over the bumi release. Heard it is going to happen soon, but no idea how soon that going to be. I do know that there are few collection I bumi units being released, facing light linear, price from 1 mil.
The released bumi units at collection 1 slightly above rm1mil for 15xx sf looks cheap now with 3carparks, compared to The Loft, PWC or even Linear..there are still 3 or 4 units, maybe people are not aware of it….as for Col 2, in 2-3 mts, i believe they will release but only very limited bumi units available, likely rm1000 and 800psf for seaview and nonview respectively
linear is selling for > 900k now with limited choice, i think collection at 1 mil ++ is more worth, look forward to collection 2 bumi release.
not sure if u guys notice or not. For sub sale asking price in iprop and mudah.my, collection 2 is ~rm200-300/sft higher than collection 1 and light point. What makes collection 2 command higher price than the other two…
@ttl,
If u get a chance, try to walk into col 2, block E,F.G..the units here not only have seaview and bridgeview, these are actually directly above seawater and there is also a small marina and another pool above seawater within these blocks..units here are 1700sf above and expect 1000+ psf upon completion
i check with IJM, all the studio bumi unit already take off by bumi. No studio bumi unit left.
thanks Lc2. agree with u… beside that the architecture for coll 2 is diff from the other 2.
@JJ, this coll 2 quite popular among the bumi too. Last time I checked not many bumi lot left for coll 2. coll 1 bumi release unit facing light linear still available last month.
the bumi lot still available
The Light Price will Drop Till 300k? This username already revealed your pessimistic view about this project.
What is the current market price for the smaller unit.
launching price 370k++, for the smallest 517sf units. Its a freehold, residential title, and you know what, even the studio units come with 2 car parks. This is real luxury, that was why people queued 3-4night in order to get one. Current market price is unknown, but the owners are asking for ~500k for their studios, yu can refer to mudah.com
Please don’t be discriminating, i am optimistic about this project, i have 3 studio units, anyone interested contact thelightpricewilldroptill300K@yahoo.com. estimated price, pls refer mudah.
Anyone know the rate for maintenance fees?
is any studio units left? Or is the studio unit for Bumi-lot gets released?
I recently visited Light Linear, Light Collection I and the Light Point and gosh! I was impressed with the development. This area is very beautiful and impressive although Light Collection II is close to completion. I am amazed with the frontage of Light Collection II as the design is just fantastic. The ground level is constructed not per sec but somewhat elevated. I think this is the first of its kind in Penang. The 1 room studio unit is my envy and I heard that current price (i.e. without garden) is RM 630,000. I wonder what is the price for the sea facing unit (i.e. Block G) with garden? It must be around RM 900,000 as I understand that these units are bigger!!
@Chin
Congrat Chin, me too like the project very much, what price u purchased.
Hope that you made a good bargain b4 you buy.
The Penang property sales dropped 18% (in qty) comparing 1st half 12 (7,000 units) vs 1st half 13 (5,000+ units).
Judging from the hot response on new launch, I believe most of the sales were from those new launches ie. Tree Sparina 500+ units, Garden Ville 400+ units, Setia Pinnacle 400+ units, Sandiland 400+ units, Summerton…etc.
It means sub-sale market is very slow.
I follow with great interest with regard to the properties development in Penang. Batu Ferringi and Tg Bungah areas are good locations. However, I personally see The Light area with great potential due to its strategic location as it is close to the Penang bridge. In addition, the Light somewhat has a magical attraction due to its unique & holistic design. The workmanship at Light Linear, Light Point is of very high quality and standard. I had always maintained and continue to say that The Light will be the address in Penang once this area is fully developed.
Existing stock of residential property in Penang : 367,158 unit
Existing stock for con/apartment : 40,843 units
By 2nd half year incoming supply : 48,076 units
Under construction : 45,153 units
So many new project, new design with rebate and discount, how the secondary market wil survive?what is the Penang population rate, i cannot find the statistic data.
@funny
the number is for mainland+island or island only
i heard collection 4 will be launched next month
@aaaa
Must be Pg island plus mainland, refer thestar Raine &Horne property new yesterday.
Total volume of residential property declined 15.7% for 1st quater 2013.
May due higher rejection of bank loan, unreasonable pricing, the pricing fall out of people income range, property market need re-adjustment.
thanks @funny… btw i think for meaningful discussion, they shud seperate figure for sub sale and new launch… the reason is that, if developer launch less unit definitely the number is less than previous year… from the article, the figure already contracted since last year… if you look at new launch and subsale this year price still increase and take up rate of new project still good.. this is just my opinion, correct me if i am wrong
my friend told me collection 4 price start from rm900/sft
http://klse0.i3investor.com/servlets/staticfile/217715.jsp
We expect strong news flow from Penang over the next few months.
IJMLD’s management is likely to finalise the JV partnership for its
commercial cluster at The Light Ph. II soon. Pricing for the land is likely
to surprise the market, and will further hold up the land values on the
Penang island. Management also values the opportunities on the
mainland, and may look to increase its exposure there going forward.
♦ Getting ready for The Light Phase II. We were hosted by Mr. Toh Chin
Leong (GM of Northern region). The Light Phase II will be the next phase
of growth for the Penang region. The interest from local and foreign
players to participate in the development of the 37-acre commercial
cluster (comprising three hotels, 1 retail mall, 1 convention centre and 1
performing arts centre) is very strong. The management is likely to select
the “finalist” over the next two months as their 50% partner in this project.
We believe pricing for the land in the JV partnership could potentially
surprise the market, and land values on the island will be lifted further.
♦ Sales at the Collection series picking up. We visited the Light Point
which was handed over in Dec12/Jan13. The design, facilities and
landscaping are impressive and “thoughtful”. Take-up rate for Collection
I, II and III is encouraging at 85%, 85% and 55%. Collection I and II will
be handed over in July and Dec this year. Pricing for the Collection series
has also seen a gradual step-up to about MYR1,100-1,200 psf (from
MYR700-800 psf a year ago) for the units with seaview. Collection IV is
slated for launch in 3Q. Collection IV and the 19 units of seafront
designer bungalows are already under construction. Earnings impact is,
therefore, rather immediate once this phase is put to the market.
♦ Mainland – the untapped growth potential. Management also sees
potential on the mainland given the anticipated spillover effect once the
Penang Second Bridge is open. Currently, IJMLD only has one project –
Permatang Sanctuary (140 acres left) on the mainland. We feel that the
company is likely to widen its exposure on the mainland soon.
♦ Fair value raised to MYR3.76. Being the sector bellwhether, we raise
our fair value on IJMLD to MYR3.76, by attaching a 10% premium to
RNAV (from 0%). The company is well-positioned to ride on the buoyant
sentiment on the property sector. It is the only listed developer with five anchor projects – The Light, Rimbayu, Pantai Sentral Park, Sebana Cove
and Nasa land, besides the other ongoing township projects in Malaysia.
light coll 4 launching soon… end of this month…. price starting from ~900 psft for low flr… high floor (unblock seaview) more than 1000 psf… cheapest unit already close to 2 mil….
Yes, KIM you are right as posted by you on 5 Sep 2011.
IJM has bought 2 yachts and if I am not mistaken , it will be berthed at Light Collection quay. Residents can rent the yachts for leisure. Great stuff and I could not wait for it.
Light collection 2 hand over may be slightly delay. However, this place is getting better progressively and this place is a good investment. This is the hottest address in Penang once it is fully developed.
@KIM
I heard the VP shud be around Jan 2014.
any idea on the shopping mall? when they will announce it and who is the partner.
Soft launched held 23 Nov. Price is 900 – 1500 psf.
So those good units at LC2 can easily fetch 1500 psf. as the concept and view much better than LC4.
No all units in LC2 are good units, I mean with sea view + privacy.
@Rich Man
at 900 psf, even the not so good unit for LC2 already profits few hundreds K….
for coll 4, I heard that around 20 units out of 70 (+) units get booked. not sure true or not
What so special abts this developer, why this developer not built any affordable home, all project launch are more than one million, reclaim the penang island, seaside land but not built any affordable home.
@buyer
maybe because the developer already contributed to build Lim Chong Eu expressway
any owner here go visit inside the enviroment n infinity pool..has been done,..??
@buyer
Wrong info, Jim land is suppose to come out With LMC projects either within the light or nearby area in near future.
~Light Collection 2 Few Unit For Sale
610sf+ – 670k Onwards
2100sf+ – 2mil Onwards
For More Detail Pls Call Mr Goh
012-4105400
Hi, im looking for a unit for own family stay. Owners please message me, but not studio.
TQ
gb.tan8080@gmail.com
~Light Collection II many Units For Sale
For More Detail Pls Call Anthony Liong
012-4333370,
interetsed to buy 1 unit here
I have 1 unit 1700 sq ft 3 bedroom, see view for sale. Anybody interested?
There are some photos of almost completed units at Light website. Nice
VP mid of Feb.
I have a peek view of Light Collection 2 recently and the design is fantastic. It is definitely a class of its own as compared with other projects. Landscape is good although the plants need watering in view of the prevailing dry season. The view at the berth area is just awesome with the beautiful swimming pool / jacuzie at the background.
‘A class of its own’ describe very well Light Col 2..seeing is believing.
@Tan
I m interested, pl email details and contact.
As a designer I like the feel of the light collection 2. But some may not accept the ” industrial look” . Also I wonder how you “own” the land because the units are sitting on stilts over the water, as far as i know all strata title issued are on land and not on water..
Reclaim land… Land title issued for the sea portion. So why not?
Design wise, the finish product looks so much better than the artist impression. Design is modern, use lots of steel & glass… I have seen that in Sydney / auckland. So this is 1st in penang, I believe everyone will love it. The floating concept might be 1st and last in penang. The authority won’t approve for future projects, and it’s too expensive to build.
@Ken Lee
hi ken lee, what do u mean by “industrial look”
@Rich Man
When we have sewage laden black water with plenty of deadly e coli being flushed directly into the sea , like what happened in batu feringghi and sungai pinang recently , its a very bad idea to have properties floating on top of seawater in penang ! One day those properties will be floating on top of very putrid black water and millions of ringgit of property investments will simply go down the drain .
Photos cant describe the place. You need to be standing at the pontoon area and the floating infinity pool area to see that this is not a typical resort condo development. Will be interesting to see transacted price soon
I am interest with it, how should I contact you?
What is the selling price now for the studio unit facing sea view?
@Keith
There is studio unit facing seaview, except some in block G which could still be possible to peek through. Selling price now is >900psf.
last I checked, there were 4/5 units bumi lot released still available. Cheapest is rm1.6m for 1701sft unit.
I meant there is no studio unit facing the sea.
I think in terms of architecture, density, exclusivity and future prospect, none of the project in the island, either existing or new, is able to match that of The Light Waterfront. Future STP phase II maybe, but not now.
@cii
agreed. the architecture for coll 2 is amazing.
There are less than 300 units (all size incl. studio) in Collection 2. Due to limited supply especially those with seaview, its better for owner to wait a while before selling to gauge the market..ijm would have now incur LADs and if SPA is strictly followed, the LADs are much higher than rental!
@pwc
any news on the shopping mall? who is the operator and when ijm will announces it.
Spore Suntec group will manage the convention centre but i dont know whether they have engaged mall operator. Residential for phase 2 ie. service apartment type, may only be launched earliest 2015.
If we take long term view, owners should not sell Col 2 now as there is huge potential when phase 2 is completed but it will take many years.
Imagine you can just walk over to the mall, convention center, hotel, marina etc…
@pwc
thanks pwc.
Yes, at least hold it for another 4-5 years. According to the plan, convention center should be completed by 2017 together with mall and hotel. But I guess it will delay to 2018 since no progress yet on the construction. When these 3 components completed, this area will be happening already. The rest of the components can be treated as a bonus i.e office, marina, service aptment etc.
Good news. We will get key soon, + IJM cheque for late delivery.
@Rich Man
do u know the exact date?
I was told letters will be posted to owners next week. We will be paid for late delivery as per s&p. Hope that’s true.
Was just informed VP is obtained! Really eager to walk around the pontoon and floating pool. Agents are marketing already rm1200 psf units with seaview. But better wait till phase 2 start selling
Received the letter from IJM today. Once you have paid the final 20%, you can get the key next week.
@water house
we can collect the keys starting tomorrow right? Need to pay 4 mths advance maint fee and misc fee.
phase 2 is very slow. still no news yet. haihhh
Tomorrow is a bit rush… I will collect mine next week. Maintenance + sinking fund works out to be 42 cents/sf which is higher than quayside (35 cents/sf).
I am not so concerned about Phase 2 now, since I will keep mine for retirement use. No regret, the end product is much better than I could imagine.
@water house
yes, very nice from outside…
btw, i also received a letter from ijm to inform that they already submitted strata title application to the authority. Normally, how long will it take for authority to issue the title?
Just seen Light Collection 2 ..aside from some quality issue inside unit, the whole environment is amazing!
@pwc
Agree.. from some of the photo they share out.. is really a nice place to stay!
@pwc
Not only “some”, there are “loads” of quality issues within the unit, base on what I heard from a colleague who bought a type B. There is a big hole at the ceiling, and the workmanship of the whole unit is like a low cost flat. He is extremely disappointed now and what to thrash it out with IJM. Looks like IJM wants to rush for the VP to save late penalty payment, and simply sacrifice the right of buyer when doing that.
Just got my keys. very unique design !!….one of its kind. I love the concept especially with the connectivity to the sea and all the collection series. the only concern me is the maintenance and up keep of the area.
@pwc
Yes, the whole environment is superb. A bit disappointed with the quality issue inside the unit. Eventhough there is no major defect, but I think IJM should have done better than that on the quality of the finished product.
@MO
@tomyam, MO, acro
Haha…if you like it, just keep it for your own enjoyment ok. Don’t even think about flipping it, coz bank valuation is below current asking price ….:))
my initial thought was to flip. After seeing , i have change my mind. keep your laugh for yourself. hehe
@kamekaze
@kamekaze
thanks for the info.
that is expected actually. nowadays asking price for newly VPed property hardly matches bank valuation. but if the property is good then the valuation will increase accordingly. just a matter of time. I think, the owners who plan to sell should wait phase 2 commercial to complete which is in 4-5 years time to gain optimum return.
Many agents say the problem now is very limited sellers but many want to rent out
@pwc
How about the demand from potential purchaser? Any unit already been transacted?
I believe the rental competition will be high and I heard many owners would like to stay too.
During key collection, someone said ijm recently opened 2 good units at block F facing pool, sea and bridge at price above rm1.9mil . This will serve as reference point for seaview units. Not sure whether these have been sold. I met about 7 or 8 owners and mostly say will hold due to 1. They like what they saw 2. Wait for phase two. 3. Limited supply.
After hearing these, i changed mind from Sell to Hold.
@pwc
That’s because they know it’s difficult to sell because valuation is below asking price. Well, very soon they will also find out its difficult to rent out because not many expats would want to stay there due to (1) dusty because construction will be ongoing nearby (2) it is very remote, and no amenities is within walking distance (3) there’s practically zero expat community in the neighbourhood
If owners want to sell, they will of course ask for higher than current valuation of rm1000psf but the point is many owners DO NOT want to sell. You need to hang out at the key collection area and talk to the owners. Agreed rental will be challenging.
I own one studio unit. I initially wanted to sell it and have put it in Mudah. I have at least get more than 20 calls asking about my unit and whether I want to sell it . I have since change my mind after I have talked to some experts and developers. They told me hold on to it. The only way it will go is up in term of price. These people have compare them with other development in Singapore and the prices only go up. Light collection 2 is special and definitely is not like some condo that you bought in other area. It is going to be like Straits Quay at least and look at SQ their prices never come down and only up.
For those who own studio , we are the lucky bunch for a lot of people would love to come stay in collection 2 because it built like a resort. We happen to own the cheapest unit believe me a lot of people would want to buy it from you. Some people already asking close to 750k. I was asking 650K and believe me once phase 2 is build the price will go up higher and higher. This could be one of the best investment that I have a chance to get involved. I have never been happier that I had paid my friend rm100 per day for 5 days to Q up so that I have a chance to buy one of the studio. I am so happy the decision that I made 4 years ago have finally pay off. For those who say bad things about Light collection 2 sorry to say you miss the boat !!!
I have more than 20 units for sales.Please feel free to call/sms/whatsapp Wayne 016-4985547 for any inquiry or viewing arrangement.
Wayne 016-4985547
Prop League Realty
Hahaha….nobody wants to sell? And one property agent has 20 units for sale? *sigh* property speculators……what has our world come to? pay bangla to queue overnight during launching, pre-launch bulk buying for speculations, newspaper reports about all that to create a false sense of demand etc….those are all the evil doings of IJM to push their properties near rubbish landfills and noisy highways. All the empty and unoccupied units in these areas are a reflection of human greed and an unscrupulous and irresponsible developer….:)
Happy Speculation!
I think IJm stopped doing that already because they realized that bulk buying by speculators are affecting their sales right now.
@dunhill
One owner that I met last week told me that he put up his unit for rent and got two expats (through their agent) interested to view the unit. Unfortunately the unit was not ready yet.
@acro
Hehehe……keep trying, don’t give up hope!…:)
@lol
At the end of it, everything has to come back to fundamentals. If you build more then what’s needed, a glut surely cannot be avoided. Regulatory intervention is just a tool to slow things down sooner rather then later, so that when things start to fall, they don’t fall so hard…..:).
There are still plenty of units coming on to the market soon. Good Luck !
@dunhill
I am not trying anything here bro…. it is up to u to want believe or not.
there are plenty of units coming in the market but there is only one collection II ……just too bad, there will not be other similar concept in penang @dunhill
phase II development will be the key to bring residential portion to another level, in terms of demand and price. However I have to emphasize that penangites are normally a bit insensitive, the first pilling or start of construction of phase II will probably not stir their interest so easily, it has to wait until the completion when convention centre, shopping malls, hotels etc taking shape.
I invested in gurney park when I saw the first pile being planted for the paragon. I invested in gold coast when saw queensbay is under construction. I invested in the brezza when straits quay is started. I invested in summer place knowing maritime square is coming. I can say that I always started ahead when others are still taking back-seat and observing.
@MO
Hmmmm….you could be right…the only one seafront residential property, without a sandy beach, located right next to a massive ongoing construction site….:)
@tll
Queensbay under construction? That must have been some donkey years ago, the-mid 90s. It was originally built by Anson Perdana, and then it went bust, the project was abandoned for years before CP Tan came to rescue it. You were lucky the project got revived. Don’t tell me the bust of AnsonPerdana & rescue by CP Tan was all part of your grand plan ah!!….:)) And by comparable standards, putra place would have given a much better appreciation in terms of % vs years waiting.
The phenomenal capital appreciation of brezza was not due to straits quay, as straits quay itself was not even a success, judging by the pathetically low volume of patrons…..:)
@dunhill
what @tll trying to say is that, for those who buy for investment, the success rate is higher if they buy properties nearby mall, but most people (not only prnangites in my observation) only make a move when they see all are in place already.
so, it is normal to get comments from people like u.
@dunhill
I bought when CP land came into the picture. Putra Place’s layout plan doesn’t fit into my appetite at that time.
I purchased The Brezza after seeing the commercial development taking shape, perhaps I forgot to mention about Tesco, but straits quay is definitely one of them.
Are you looking for any property to invest in lately? Have u came across any better property as compared to The Light Waterfront? Do enlighten us here.
@acro
Hope this thread will not turn into a Shineville a-kind.
@tll
hahaha… I hope not. Shinevilla thread is amazing. I believe owners for coll 2 know exactly what they are doing. We welcome any type of comments but no need to worry about ridiculous comments.
@acro,tll
Haha….it’s totally ridiculous in SVP. You have owners hard selling, and by-standers waiting to give them a big slap!…:)) The more defensive the flippers get, the more slaps they attract. So acro, hopefully you don’t fall into that trap…..;)
Coming back to Col II, I think when you’re trying to resell something at RM1000+/sqft, you can’t be talking about malls anymore, as you have plenty of other mall condos around Penang that are priced lower, nearer to schools and all other amenities. Quayside is probably a good indication of what you’re up against when you go RM1000+/sqft territory….:) You simply can’t move any units.
If you’re talking about foreigners, they are not particularly fond of malls (especially the mat sallehs). They normally look for that “special blend” of things around where they stay, and unfortunately at this moment, The Light is not seen to be offering that.
@MO
if you want to add sandy beach to collection ii and a completed phase II development. Then very easy . add another 500psf to the price …. you like to comment on other projects. Let see what project you have own….
@dunhill
f you want to add sandy beach to collection ii and a completed phase II development. Then very easy . add another 500psf to the price …. you like to comment on other projects. Let see what project you have own….
I want a house on top of water…not on sandy beach. You can get any house or condo on sandy beach all along the beaches. There is nothing special with them cos there are so many. Find us a condo ON TOP of water then lets compare ok !
@Hots
Eeehh…..can’t think of a condo ON TOP of water, mosque got lah – the floating mosque in Tanjung Bunga. Same building structure as Col II, sitting on stilts. During low tide, you can see leeches, black mold, disgusting looking slimy sea creatures sticking on the stilts. Very speciale!…:) And just pray that the land reclamation next door will not cause siltation under your home, otherwise during low tide as the silt gets thicker, you will enjoy foul smell and muddy scenery.
No doubt now Coll series are very nice..hopefully the middle bank project in very near future wont affect Coll series price.
Middle bank? Tough, having to battle the strong opposition from the environmental groups and certain politicians, I don’t think it will be realised anytime soon.
In fact I am thinking it is more practical to reclaim the coastline in between queensbay and the 2nd bridge. Not much residential there except some illegal stalls or restaurant, cross the road is the industrial area, probably will have less reasons to complain although I know at the end people are still complaining about it.
What is so special about living on top of a very dirty sea water due to years and years of dumping sewage water directly into the sea ? Its like living on top of sewage dumping area laa.
dunhill, kangkong &yeahright ,
whatever it is…who care!!….but the fact that the price is already RM1,000psf
I tell you what if you happened to own the property on LC 2 congratulation ! I believe you make a good investment. Others who bad mouth about LC 2, well what can I said is a freedom of speech so they are here talk cock only . They either can not afford to buy anything or they are so jealous of you owning some nice property. Who knows what will happen in the future. They have the right to talk shit so let it be. They are waiting for you to dump your property so that they have a chance to buy it from you. Plain and simple.
Hey everyoune,
I wonder whether LAD will also be computed to us for common facilities. As far as I am concerned, we are entitled as it is stated in the S&P Clause.
No point that common facilities have been completed 3 months ago whereas vacant possession is given now. As such logically, LAD should rightly be considered in this aspect.
Anyone out htere has any answers on this ????
I am also unhappy with the amount of LAD.
IJM Land did not take into account with regard to the common facilities (i.e. gym, swimming pool, garden, etc). This is clearly stated in the S&P Clause.
I would require IJM Land’s clarification otherwise ????? . Please read the S&P.
Sorry , what is LAD ?
@John Doe Liquidated Ascertained Damages…is kind of compensation for late delivery. Is calculated based on 10%pa of the purchase price.
There are 2 aspects of LAD:
( a) Clause 25 (2) states 10% of purchase price
PLUS
(b) Clause 27(2) states 10% for common facilities.
I think we are getting (a) only and not (b).
I am the owner of light coll 2, 1701sf unit. I would like to sell my unit. If u are interested to buy from direct owner, feel free to email me thelightcollection2@gmail.com.
the email only for direct buyer (no agent pls) as I already have agent to market my unit.
tqvm
Ijm sold released bumi unit during cny good seaview 1701sf at rm1.89mil for your reference
@LS
This is not an imagination, it is already proven. I already saw one yacht showing off at the pontoon. Fairy small though, may only fit up to 5-6 people max I think, nevertheless, it is truly a luxury stuff for The Light Waterfront’s residents to enjoy.
I went along today to check out a studio as a potential rental, so here are some first impressions. I’m staying in straits quay now and I hadn’t heard of the light project before a few days ago. I wanted to go check out the area around queensbay and saw the light collection II listed. I looked at three different sized apartments with a great realtor and walked around the site to look at the outside areas and gyms.
1) the studios are quite small but I’ve been living in hotels for the last three years so not an issue for me. The view from the balcony looked across the road over the swimming pool in another part of the site. Not very inspiring but it could be worse. All of those studios seem to face west so I think maybe the afternoon sun would heat the places up but it seemed ok when we first walked in. The studios would be perfect for me from a size perspective but others would probably think they were a bit small. The cooker was electric. I would prefer gas. Other than that I really liked it. The issue I would face for all apartments is that I don’t have a car and walking to tescos or queensbay mall would be 20 minutes and pretty hot and sweaty.
2) we then looked at a two bedroom with around 1200sf. Really nice place. Maybe a little more room than I would need as a single person but just lovely. Nice view over the pool from the balcony. It also had a wet and dry kitchen area with gas in the latter.
3) the last apartment we looked at was a three bedroom in another block and the view over the infinity pool to the bridge was just spectacular. The apartment itself was also gorgeous. I didn’t see any finish problems in any of the three units.
Overall I was very impressed with the apartments and the common areas. The potential for the overall project should be great over the next few years. Minor nag: I didn’t see a rowing machine in the gym, which seems to be the same in all the places I’ve looked at. I’ve never seen anyone ever using the gyms in penang either. The rowing machine is the only piece of equipment I use and I don’t really want to buy one. The pools looked very inviting and the coral waterways will be nice in the future. If I did decide to rent there I would end up spending at least 500MR a month on taxis as everywhere is just a little too far to walk to at the moment. But later that might not be an issue when they finish off the commercial areas. In other parts of the world I usually see condos that are around 800sf (one bedroom plus an office) and I think they should have included some units like that. Also if any of the studios had looked out over the pool or out to the bridge they would have been much more appealing.
Hi mjc,
I am shocked to hear you say that you could actually walk to tesco in 20 mins! Walk to Tesco??? You must be kidding!! You will never get there walking, because you would have had run down by a container truck crossing the super noisy highway half way there!
And you surely won’t be able to walk to queensbay either, as cycling from The Light to queensbay would actually take you 25 mins ( I have personally tried that).
If you’re staying in straits quay right now, it is surely a downgrade to your lifestyle moving to The Light.
Haha I didn’t actually try walking but I did see an overhead walking bridge to cross the road. I walk to the tescos from SQ every other day at the moment and it takes around ten minutes. Anything more than that would get pretty warm and sticky. Straits Quay is pretty unique in the world from what I’ve seen and the convenience factor is great, but there is something that doesn’t really grab me about it. I don’t see many places in penang that cater to one person so that’s why I initially stayed in SQ and also why I looked at the LCII. I’m glad I went there to check it out at the very least.
Radio Shock !
I am just curious where do you stay now ?
if i guess right it will definitely an upgrade for you if you move into LC2.
@Mjc, good sharing.. i pressume you are expat. If you do not drive, i would suggest not to stay at Light collection as it is not practical in terms of transportation. Until phase 2 is ready!
Many owner in Light own also SQ/Quayside, as these are the only large waterfront project. I believe they complement each other, in a way high price in quayside also push up price in light or vice versa.
Hi mjc, thank you for sharing your honest comments about LC2. I am from the Netherlands and in the process of moving into Malaysia under MM2H, but have been indecisive about Penang or KL. I lived in Bali in the last 5 years, but found it to be a little bit too backward.
I have recently visited a few residential places in Penang, including Tanjung Bungah, Batu Feringgi, Tanjung Tokong and LC2. I found LC2 to be too “out-of-no-where”, noisy, dusty and especially the on-going construction in the area will be a pain in the neck. The property itself (LC2) is new and neat, but nothing special and not to my liking.
I also visited Straits Quay, very nice environment, with Tesco within walking distance and a well mixed of different types of restaurants all around the area. Batu Feringgi is a little bit too far for me, coming down to Gurney Drive where you have all the shopping activities would be too huge a task. Therefore, I have narrowed down to Tanjung Bungah and Tanjung Tokong. I am definitely looking forward to settling down in this Pearl of the Orient.
Hi Lctwo and Hilda. Yes, I’m an expat. Trying to find my ideal place in the world to settle down. I really like penang. I went to KL but I didn’t stay very long so I didn’t see much there. But it could be equally as nice as Penang. Also I haven’t looked into other areas in Malaysia yet.
Straits Quay is a perfect place to stay while I check out other parts of Penang. I’ll go look at some condos in gurney next. The only minor problem with my apartment here is that I’m facing the sea and up until noon I have to run the AC to keep the temperature reasonable. It’s a beautiful view though.
Another great thing about SQ is that so far, no mosqitoes or other bugs. I’m not sure if that’s an issue in other areas.
Hilda if you find anything nice in Tanjung Bungah/Tanjung Tokong let me know. My condo requirements are pretty simple: clean, a balcony, a pool and coffee shop/restaurants within walking distance. I haven’t really looked into the MM2H yet.
It is not only the concrete structures and services available in Tanjung Bungah and Tanjung Tokong, but the people living around the area really makes you feel at home. I have so far bumped into an English couple, a Japanese family, as well as an American lady just by roaming around the area on foot myself. The presence of tourists around here will also liven things up for me. I just can’t wait to move myself in to this place!
Hi Hilda,
Are you seriously looking to buy around Tanjung Bungah cos I have one beachfront condo, if so do let me have your email so I can give more details..
After reading all the comments on Light collection II and other Condos in Penang, I would like to tell fellow buyers and potential buyers of this development why I zeroed down on this development since its inception and I have waited very long for this opportunity to invest in this unique development even before tzunami hits the coast of Penang. Having seen
many but still I waited for this unique development because having many years of experience in property purchasing my gut feeling tells it is the place to buy for retirement and resort living.
1. It is the iconic place for Penang, the first thing You see when reached the end of Penang
bridge.
2. The resort feeling and the facilities that is offered especially the coral and fishes swimming around is truly remarkable and children just love it
3. It is a freehold development by a very reputable developer who even compensate you for late delivery without the purchaser fighting or asking for it. This is what I call integrity and honesty at its best!!!
4. You can jog, walk and cycle without fear of mugging any time of the day within the huge
vicinity with lovely landscaping.
5. You do not feel hammed in because of the spaciousness, in fact you feel as if you are perpectually staying in a resort.
6. Gym facilities and children playground is fantastic…….so many choices….. so safe
7, It is very near city and the shopping malls.
The list can go on and on…….. verdict not selling because may not be able to buy back next time…… For those who are interested do take a look it is worthwhile…… if you want to
compare to singapore properties this place surpasses in term of value, living lifestyle etc.,,,
Hi Hildakane and mjc.
I would strongly recommend Quayside Resort Condo at Tg Tokong. It is located next to Tesco and Straits Quay. majority of the expats are living here now. It jas a 4.5 acre water park and the community are quite diverse. You jave people from all parts of the world living there.
Light collection 2 are in the middle of no where and usually expats won’t stay there. Expats has always been staying in the northern side of Penang (Gurney Drive, Tg Bungah, Tg Tokong and Batu Ferringhi)
People is very forgetful! Do you still remember when the last tsunami hit, which side of Penang had been badly affected?
@lol
Yes, every now and then all property agents will recommend Gurney Drive,
Tg. Bungah and Tg.Tokong so that the locals will the chance to “milk” you
dry with the their higher prices.
Hi P people, you are right, people are always forgetful, like they said, out of sight, out of mind.
The occupation rate for Quayside is still very low at the moment, although OC was obtained 2 years ago. When lol said “majority of the expats are living here now”, he/she actually meant in this area, rather then Quayside.
The usual complaints about Quayside from potential tenants for the smaller units are there’s not enough windows in the unit, so, bad layout. Therefore tough time for owners to rent out or sell these small units.
Hi Waiting Only,
Nowadays, anywhere you go, seller will try to “milk” you. You go southern part of the island, they give you a gentle fondle before a firm squeeze. You go northern part, they just go straight to the squeezing part and then suck you dry…:)
How’s the sub sale of LC2? The price is ridiculously high, got buyers? I believe only foreigners might be interested, absolutely not for local market…….
@chris
hi Chris,
The occupancy rate for Quayside is pretty good. Block D obtained OC first followed by Block E almost a year later and then Block A and B. Occupancy rate is pretty good because i did check with Quayside management. Recently, 70 units were taken up by a British filming company that will be filming at Penang Hill soon.
Cheers,
Jeremy
Im looking for a unit unfurnished at Light linear to rent
Kindly email me at pbhmag@gmail.com
May I know who have Light Collection II penthouse to let go? I hv serious buyer… Pls kindly call me 0124091299 thank you….
I’m lnterested with The Light Collection II unit, looking for reasonably priced & well-maintained unit, kindly call me 018-2526272 Dan Ho, no agent thanks!
I have 1 unit at waterfront facing the pontoon ( where they park the boat )come with deck and garden sit next to water. This one has a motivated seller willing to let go asking 2,7 million come with 2200 sq feet, only selling at rm 1228 per sq feet. This one is a beauty because this one is really waterfront leaving 100 %. You can actually jump into the sea from the deck. It is a steal at this price !!! hurry please call 0195562779. tq
I rather buy quayside.
@john doe
The latest drone footage of The Light Waterfront Project, https://www.youtube.com/watch?v=UeB2V6_H9b8.
Looking for a unit in light collection with fully seaview, fully furnished and renovated….kindly email at awktsp@gmail.com (direct owner only),thanks!
i am looking for studio unit, fully furnished and renovated.
Please drop me an email if you got any.
@jk
Aiya, you should have posted your comment here earlier, I just sold my unit at a loss of 150k.
@vick how much u sold your unit for ? Why sell at a loss?