Penang World City
Penang World City, a mixed residential and commercial property project by Tropicana Ivory Sdn Bhd on a 102.56 acre site in Bayan Mutiara, Penang. Comprises a mix of residential units, shopping mall, office suites, office tower, hotel, retail spaces and open mall with boulevard.
The development will be completed in eight years and work on the first phase is scheduled to begin next year.
Related Posts:
Tropicana Bay Residences @ Penang World City
hi KK,
Is it on high floor ? the price seem not too bad.
Pgster : 9 floor. Pool view. 1300sf is the one with 2 car park. Other smaller unit only one car park.
Not bad at all. Cheers. I know some units are pre-selected to be sold in KL and some in Pg.
Kk, sounds like good deal for big unit, which block?
Pgster : the price is future price . 4 yrs later on start to serve loan. Should be fine ..
@Pgster
Yea i heard an investor bought up all the small units in Block C and D.
I guess buy now and worry about it 4 years later?
Will there be a preview of the showroom on the 6th of february?
This is the first phase… and i believe Block A-E is only consist 10% of total project land. Ivory need to prove this project is a successful one because they have 100acre of land in Bayan Mutiara. Then only they will manage to sell future phases with higher value.
hi kk,
urs unit is block c?
mine also 9th floor unit e.
Is this a freehold project?
Freehold, DIBS, 3+5% discount. Phase 1
Hi all, we are seeing big potential for the nearby N-Park & E-Park with the current price gap with PWC. Anyone want to join to bulk buy some units there?
YES, delete all unfavorable comments and allow those sound “musical”
to hear only.
hi all – so confirm Block C & D all sold out?
very pissed now as my friend have # below 10 and choose to go back when the sales person claim today not opening any units and block C & D, and we waited from 9-3. WTF….
So this is going to be the next gurney and sri tanjung pinang?… ppl will prefer this place…. so near to the two bridges…. hurray…. south east penang is booming….. great!!
650psft sounds reasonable. Even Southbay is asking for 700psft two years ago. I think future launch will be at least 750psft for world city. Whoever stay at gold coast and putra place will have to suffer the construction havoc for a while.
I was thinking whether we should call this place Bayan Mutiara or Penang World City, quite confusing to me. If they make it a distinct district like queensbay, then easier for ppl to recognise and pronounce. So perhaps Bayan Mutiara name. Just call Penang World City now onwards or TropicanaIvory :p
I believe there are still some units in a, b, c and d left but most probably would be bigger sizes. Worth to check it out. And during preview later, we should see block E.
Potentially we have 100% investors and 0% owner-occupier.
True. If for own stay, many other choices.
May i know where is the sales office for PWC today? Is it at dato keramat or near PWC site sales office? Thanks.
again penang people are fooled n manipulated by unsrupulous unprincipled n greedy developers who are laughing all the way to the bank
Almost 50% of this project Phase 1A launch was purchased by KL investors. As quick comparison, 650psf PWC vs Mahsing Southbay Plaza launch price, PWC is a bargain at this location. 650psf, you can’t even get a decent condo in PJ or SJ areas, most of them are leasehold and commercial title but now u can get it beside the sea. Sg Ara reflection subsale is asking for $800k for 1512sf now, $ and deep in Sg Ara! Comparatively PWC is still a bargain. Remember you are buying PWC at $650psf of the future price (only commit bank loan in 4 years). Still a bargain.
Cindy, it’s in dato keramat. They are working
to setup the show unit by cny in pwc site
Ya. Good location , near to both bridge, easy access to highway, potential future growth with 100ache land and 10billion project development, 1st phase project, selling price cheaper than those feature developer like IJM or Mahsing, limited big land have in surrounding that area by other developer, potential high income ppl to rent because near to working place/factory, lesser traffic jam headache and easy access to any direction as Penang traffic getting worst and worst.
how is the maintenance feet?
Daniel : Rm0.25 per sf.
‘Feet??’ … goodness daniel…. go invest some money and improve on your English.. perhaps you represent the majority of Malaysians who cannot even speak proper English these days….hopeless
gold coast owner will be very happy, this will push the “value” higher. also good for putra place, will now be more ridiculous. as for PWC, look at the block alignment and unit arrangement, i was not convinced. you will be paying a premium for poor units with poor view. i was expecting ivory to come up with better things but nope. no matter what is said, this phase 1 is to suck the blood dry. future price? i’d rather buy a unit in gold coast now
@koko
gold coast = leasehold…??
@KK
Thx for the info KK. Rm0.25 sounds reasonable for a high end condo nowadays.
@Penang Homes
I scored A1 for 1119 12 years ago. Probably u might had thought it was a typo.
Would Summerton a good option also instead of Gold Coast? Though is commercial title and without sea view. What u guys think?
@islander
just my personal opinion.
no matter is leasehold or freehold, at least in penang, the location and quality of life is more important. even leasehold projects like summer place and spring, look at their value now and their future potential? but look at PWC, i’m sure if is leasehold it will still sell like hot cake. because Penang market is too much controlled and influenced by speculators and developers, its the effect of the free economy but economy dont favor the middle income and the poor. this is why the saying – rich getting richer
my opinion only
Since already sold out, I dont think Ivory still need that special preview during CNY. Unless they blocked out all the good units for later release?
N-Park & E-Park is better bargain!!! freehold, location almost similar and just wait for the time to fill the big price gap (RM400psf Vs RM700psf for PWC). ROI conservatively 50% or more and return could be better than PWC! Anyone interested to chip in??
@Speculator Club
May i know more of the club?
Well TOEFL and other distinguished courses only recognise their scores for a maximum of 3 years… 12 years…. ahem….I rest my case…..
By the way Malaysian 1119…. in the eyes of the world…. NO STANDARD…. nothing to shout about …..
@Penang Homes
Then I had to say my English level dropped drastically as I’m getting older. Till I can’t differentiate fee n feet. Btw, this is just a property forum, no problem if my English is so poor.
@Speculator Club
The traffic and neighborhood at n park is a bit congested from my opinion, but is freehold.
No hard feelings Daniel… its just that I am very disappointed with our current level of English…..very sad…we used to be way ahead of Singapore and yet today… we a trailing….so far behind….our exchange rate used to be superior compared to the SGD but today…sigh…. no wonder the Singaporeans sound like birds when they come to Penang…… cheep… cheep….. cheep….. (actually ”cheap…cheap…cheap….)
What, u must be joking when u say Npark is freehold??? Becarefull of conma n guys. Recently theres is a trend of conman trying to use bulk buying properrt as their excuses.
PenangHomes, we r not here to listen to your lectures or to listen how many years or how advance other nations are? We are in property forum now and could u pleaz not start ur language cls over here. This really show how immature u are..
There is a big land PMU in front, it’s substation (probably GIS type, with building).. Anyone familiar with this PMU substation? Will there be cables and high pylon? If there is pylon or structures, how high will it be? This may affect those units facing west..
Also, to conclude if u r not satisfied with our present education system why shout here. Use your vote wisely and make a change for ur children or grandchildren. Ooops maybe u r still in ur teens…..
@CBS
we are a profit-orientated group which focus on high return investment. Are you interested for the N-Park & E-Park deal?
@Daniel
The density of N-Park is definitely lower/less congested than this 5-blocks, & with many 455sqf studio type PWC project. Potential return per price ratio (ROI) is definitely better, and it is for certain that the price will be close up the gap in the future! low risk & high return.
@Lecturer
Go and check the fact. N-Park is definitely freehold.
Thank you for your compliments… I am so glad that you think that as a teen I can think so well and contemplate the state of our nation…. thanks for “see me up”….”khwa wa aye khee”… ha ha ha… really make my day…..(bored in the office….)
Since when it?? I do apologise for the confusion. Sorry..
Just waiting for a challenge…. thanks for taking it up…..(again… bored in the office)
@Lecturer
Agreed with the strategy of fill up big gap of 400 sq with 650 sq…take very simple math to calc ulate the roi…same go to propert surounding, only 420 sq. be it free hold or lease hold, end of the day, if government want to take back for development, it will take back too. Dun fool with this. It,s just a developer startegy.
Education is real suck in malaysia. We shud feel shame of it and vote wisely, or else u will shame another 50yrs
If sold out all, why still need to set up a show @ PWC site during CNY?
Confirmed sold out?
Any unit available in C or D?
this is marketing strategy, artificially creating a high end price in perception by putting 650pst for phase 1 (which scheduled to start work only in one year time). If economy still good and going, price will continue to go up for next phase. Until it reach a point where no more real buyer or investor could support these price increase, it will fall back to the equilibrium point where buyer or investor could affordably purchase it.
I beg to differ….I am confident that prices on the island will continue to rise (at a slower rate than before)….. the demand is phenomenal….. both form local and foreign…. Penang has so much to offer….for the past 50 -60 years Penang has always been the favoured destination…..it will remain such as Penang lang has such great spirit….you can find Penang lang all over the world…..deep in their hearts Penang is still the best!!!!
Penang lang is the greatest but also very famous for being stingy….however we are also very practical…. must buy house for our next generation now (if can afford) or else they will not be able to buy on their own next time… it will be like new york and other cities…a generation of ppl who rent their whole lives……. happy even if can find place to rent… that is the future I see for Penang Island…. my heaven on earth
My point of view… The gap between n park and pwc will never be filled up as they’re in different market segment. Furthermore, there are many options in the same market as n park that sharing similar bucket of supply and demand.
May I know any of you bought the studio unit? What are the facilities at PWC?
dont speculate on npark or epark la. there will be a few projects coming up at sg nibong area. more choices coming soon.
Pls lodge to correct side.. MOH is stand for ministry of health.. Nothing to do with it btw…@Buyer
If KK paid 650psf for block C/D on end of 2nd day, how much other buyers paid for the same size 1320sqft for block A/B on the 1st day? Anyone knows?
I will cancel the order on Monday, knowing the purchasers are 95% or even more are investors, I do not think I will be so lucky for my turn able to sell my unit or rent it out without problem upon completion. However this is individual perception and decision, just my opinion. I prefer to use the same fund for other projects in KL/Klang Valley.
By the way, this is not really a high end condo, just take a look of the typical layout plan and we could easily see how many units per floor can anticipate the kind of future residents there. I could be wrong, time will tell. Just base on my previous experience and mistakes.
MOH = Ministry of Housing
Pls get your fact right before commenting.
Smart move, 10000 or 20000 or more affordable housing scheme 400k is lauching, who will want to buy 500sqf or smaller at 400k?
@Pgster
Do u able to claim back the deposit in full or partial if cancellation? What’s the size of your unit?
I think small unit can rent out but difficult to sell eventually to anyone who has family.
Even if for big units, I do not think anyone with family want to stay in the same area with so many singles or small units.
Ya agree..the rental income from small unit will also not cover the purchase price in 20 years.. And cant find anyone to buy small unit..think carefully
Actully not that many small units..There are about 120 units of 455sf and another 120 units of 615sf in the whole phase 1A. Total units about 1200+ in 5 blocks within 10+acre land…small units studios are getting more acceptance in kl
(1) Unethical business practice by developers is not something new. (2) Gullible investors blinded by greed is not something new. (1) + (2) = artificially inflated property price. I wonder if LGE is not capable of comprehending what’s going on and therefore not addressing it with proper regulations, or is he just too afraid to offend developers? Maybe he’s going to just blame the previous state gov for not addressing the issue first, therefore it’s ok now if he doesn’t address it?….:)
What unethical business practice are we talking about here? Isn’t it the developers’ prerogative to determine when (including before the project is opened for buying) and who (including cronies) to sell to? Isn’t it the developers’ prerogative to raise the price after selling the desired number of units?….:) Is there a law saying that’s illegal? If there’s none, what is stopping us from making one?
Maybe those investors plan to rent out the small units like hostel for medical center nurse and patients.
1200+ units on 10+ acres are very high density!! it’s 120+ units per acre. can build so many units? not max 87 units per acre?
Hi , anyone had book the unit at pwc?what is mean 3+5 % discount? Is it mean 3%discount on the purchase price and then rebate 5percent on the 10% down payment.
@Hihi
Yes.
@JackPg
Na! Property resales value pretty much depends on the rental value. if you can easily rent out, means you can easily sell it out.
@KK
Boss, why you price so cheap, VVIP ? read thru d posts, it seems oledi hit 800psf for some units. Can anyone here clarify ???? tq
Since I will cancel the order, I will stop the cheque today ( it is the only day left to do so
). I was informed 3% off from the listed price and 5% off from the net off price as rebate during signing of S&P. ( balance of 10% )
I suppose KK is refer to the net off price and your mentioned price is refered to the list price before discount. Generally the bigger the unit, the cheaper in term of per sqft and the smaller it is, the higher in price in term of per sqft. As from y experience, almost all developer calculate using the similar formula whereby the 1st 300sqft is a fixed rate at much higher price /sqft, the subsequent is lower and get lower, this is how the developers calculate the costs.
@Pgster
Bro, thx for your explanation ! newbie here.. but tis project seems selling like hot cake..
@N-park? No, no …
Have fun for N-park. I have already exited …
http://www.epbt.gov.my/osc/Proj1_Info.cfm?Name=320251&S=S
@N-park? No, no …
thanks 
hi there
the link you provided, mind elaborate a bit?
With 1mil, can we get the semi-D at Pantai Jerejak just across the street?
Is the new Sales Gallery at Bayan Mutiara already open?
1st phase is next to the “black river”. Isn’t it disgusting to see and smell it everyday? No wonder selling for 700psft only.
@Elain
i believe you can
@Elain
pay to smell river 😀
@korda
Same to you. 😀
@Elain
are you sure? you can get a DST, but for semi-D 1 mil not enough….
@islander
Ok. I figure that. Thanks.
@Elain
hehe i didnt buy and need to clarify that i am not complaining that i didnt. i left their office the other day after waiting for half day and seeing all the havoc going on. smelt something fishy…
as for the river, it it unfavorable to investors but to those who want to stay there, have to go and see if the river really smell or only look unpleasant…
hmm….looks like this phase 1A is closest to the black river and coastal highway…..so there is tendency that even the sea facing unit view will be blocked, because if you observe the location detail enough, there could be another phase (maybe phase 1B ?) right in front of block C/D/E, which is closer to the jerejak jetty and beach.
Since i dont go into the room to see the actual masterplan model (do they have one?), I just snap the block C/D floorplan and phase 1A masterplan, and try match the location & size to google map… hehe
@ks_rev
from what i hear is there definitely will be more reclaimation and development, and is common knowledge in a mixed development like this, the developer will open their least desirable phase as phase 1. sea view? i wouldnt put too much hope. those who buy units facing inland will have evening sun. good luck with that. its scorching hot and daytime can view haze only
Hopefully the state government will ask Ivory to clean up the river as part of the corporate social responsibility. Win win for all.
@Elain
the river is not just in front of the project only, but is a whole stretch and many different causes and people contribute to polluting it. to ask ivory to clean it up is unfair to them…
i think the problem is not the river, is the greedy people. how much can be taken to the grave?
Need advice.. It is gonna be worthy if getting a 22 Floor unit (top floor), 615sqft for 465k+ (750+ psf), and it gonna be facing inland.. ?
@korda
having said that, nobody say the world is fair, and the world is not fair. this is a dog eat dog world, unfortunately, the big dogs have been released for too long and they do what they please
@Carla
my personal opinion:
if for investment, is there any other option? rental or resell?
for such price, how much rental they will demand? remember there are many projects to come in sg nibong area, which itself is not bad and will provide competition. when rental market dont move, the only way is to lower rentals, which, will attract the people you may not like.
and for subsale, as pointed out, this project have to be spectacular, because gold coast is nearby, and queensbay mall empty land still available
like many here suggest, most buyers are speculators.
for own stay:
why? is it so good?
i think everything has got to have its limit. time will tell if its worth it. there are so many factors to look at
just my 2 cents
Yes, I think Tropicanaivory should clean up the river if it is a concern
Here are my opinions on this project:
Has the planning permission been approved?
If it’s 87 units/acre, the project is X3 more densed than Light / QuaySide etc. How can it be high end?
Based on 87 units/acre and selling at 700/sqf., I believe the developer can make a profit of at least 500million from this 1st 10 acres site, so they are trying to creat a “panic” situation for the greedy speculators to jump in, and I believe this strategy works well.
GREED is the word… for both developer and speculators.
The 853 sqf. studio units is “half dead” in Straits Quay. Only good for holiday homes and short stay for tourists… and now they are adding more in QuaySide, sigh
I don’t think studios will work in TropicanaIvory, definitely NOT for speculation.
Hurray…my E-park will rock. 500k in 2 years time..sap sap sui. Unblock sea view, pulau jerejak, pg bridge and 2nd bridge, 1000 sqft, freehold, managment by resident….alamak..should book in another 1 last year….siez
Such a High densitiy project with ~700 persqft is not worth at all , some more facing inland, river and the so call sea view will be block in future for sure. Some relatives that managed to went in to the booking room mentioned that this developer (especially the mgmt team) is so unprofessional & unethical. Only bulk buyer time is valuable and not considerate about the genuine buyer’s time….and they are so silly ,think about if they were to sell majority of the small units (870, 1020 sqft) to the bulk buyer how are they going to face their genuine buyer…
@korda
It should be part of the corporate social responsibility, and it is win win for them too as they will be building more and more high end condo next to the river. Unless they are here for quick profit only.
@Raymond Yap
When all greedy people stuck with multiple loan commitment, they will have to tighten their expenses on other stuffs. So for the next 4 years, I can imagine many PWC investors will be eating in canteen. Economy rice at hawker is not cheap enough for them.
@SSL
The river is actually a longkang. You might not want to have the “river view” at all cost.
with so many negative comments,curious if you are not interested in this project,why waste time to comment on this page?i think this forum should be used constructively to discuss by those who are interested in this project.Btw,just heard from the Sales person that there are still small and big units avaliable for sale today on all the blocks.So if you are venting out your anger here because you did not get a chance to book a unit,go and grab one if you are really interested.Otherwise,please move out of this forum than throwing all your negative comments here.thanks.
This project is really excited from glance, take a deep look and do some work home just to get a closer look of what was being offered and bought. Good forum with mixed comments here. Keep this up to benefit everyone. Thanks.
All the blocks, small and big units for sale ? Something not as told yesterday and the day before yesterday. I have to run over there now. Sales office just few steps below my shop.
@Pgster
Bro, u mean you release more units for sale now ?
Sorry, typo… I mean is d SA release more units for sale now ??? I tot almost sold out ???
Better check it @ sales office to confirm what “Curious” mentioned, it is latest news
to me. I was there 2 days without the same info.
Since this is an open forum for potential buyer discussion & exchange of oppinion/infor , hence Comment would come in with positive & negative remark some time . Does not mean that posting -ve comment are not genuine buyer…
@curious
this is a public forum and anyone is entitled to have their opinion and discuss. this is not a forum to praise any project, good is good bad is bad. if you like it, buy a unit and can sit back, no need to monitor this forum right?
for me its better to keep an open mind. if you like it so much, you can camp at their office or setup camp at the site to start loving your new purchase
i was curious, last time Straits Garden studio suite launch with lower price, but the response really teruk, and ppl question n cursing kao kao…
and now this PWC studio suite launch every 1 is so madly chasing about it……
yes correct it is located at superb masterplan (compare to Straits Garden), but is this will boost the rental market for this small units? for typical 350k unit, monthly replayment about ~1.5k. Will anyone/couple pay 1.5k to rent a studio? Over here we dont have banks / financial hubs (where money come fast/go fast, so they willing to spend for lifestyle), and I don’t think typical local engineer will rent that, don’t talk about expats (you and I know how little this population in FTZ, nowadays).
I am not sure what commercial activities in the PWC masterplan (hospital, can rent to doctor/nurse? commercial? education?)
So right now I really not sure which type or target tenant for this small studio units.
(anyone who manage to bought smaller studio units, mind to share your insights?)
which unit should be best to buy for a)stay,b)sell later,d)rental yield?
inputs?or pwc is not suitable for any?
If you do not have CASH; is like asking which well to jump in?
What are they previewing tomorrow?
What are they previewing tomorrow?
The psf price fo PWC compartivel is high if you look at IJM th elit porject.
Imagig you buy IJM or Putra place or gold cost, we much better off wiht lower PSF $$$$ and larget condo size…. and ROI…
Need to think twice for those intent tp purchse PWC,
a) the view is facing in ladn adnfuture view will be block by high rise
b) PSF is higher compare wiht near by porject why not invenst in other ready build
ppl only know how to say good good buy buy, but never do the math…
what if one day ivory decide to change their mind and not build another mall or hospital etc, and instead build more cramped towers? good luck selling or renting then
@ks_rev
janji is cheap, i think penang ppl know this best
@curious
I am not discouraging people from investing in PWC, I just provided my views on pros and cons of this famed project by Ivory. Please don’t feel offended if I sounded too negative. You should not be worrying too much for such popular project. Guarantee won’t be abandoned.
How long required to complete the construction projects on this 100 acre land? Notice that they need to reclaim some land, and built a man make island? Think that the environment will not be suitable for living for the next 10 years?
Anyway, this is among the last waterfront land of the island, still will be very hot in demand.
I am going to their Bayan Mutiara office tomorrow to checkout the whole project concept and know a little bit more about the facilities, specifications and price. Hopefully they don’t chicken out by delaying the preview.
@ks_rev
The potential tenant may be
1.) 2nd (or 3rd) wife for the rich, as weekend vacation home for rich penangites/non-penangites/foreigners
2.) Rich foreign students (African, Arabian, China, etc, etc)
3.) Indonesian medical-tourists
How many units in total for phase 1a? How big is the land size? These are the questions I will post to Ivory sales tomorrow. I heard that they increased the price “on the spot” for last Friday and Sat VVIP.
Heard from Ivory price increase 10% to 15% from Fri to Sat.When phase2 is launched,they said price will be much higher than Phase1.My thoughts,if small unit and can sustain,can target for rental for couples,rich students,medical tourists.If big unit,hard to say…
Would they sell cheaper for phase 2 if Bank Negara suddenly impose new rules to curb property price like China and Singapore? I dont think investors would want to invest if only eligible for up to 50% loan amount for second house. It will be very interesting to see.
I was there on Friday, Saturday and today (Monday), the price has never changed. It has been 3%+5% all the while…. The price list is fixed. I have a copy of it.
Have booked a small unit sine 4 yr later, it will be extremely hard to find a unit below 500k at this prime location…
This project is another N-Park in the making…
@buyer
which size and how much you bought?
I just can’t imagine how worst is the condition if more than 1000 cars park outside as they only allowed one carpark for one unit.. Dca requirement will restrict the building height, but they would like to max the profit.. Just imagine what will happened next.
@U2
Is it because PWC directly under flight path? Would it be too noisy?
I was one of the purchaser who went fri and saturday but buy nothing. Feel like cheated for nothing as we received a call on fri night and they will open new block but required to fill in new forms and queue up. Sad to say, we were cheated, they change the rules even we are the first one to reach the office.. Everything mess like hell yet they are the so call listed comp. what a shame! they even give priority to bulk buyers and I believe some are agent even they public in advertisement where this are all scam. Just got to know today where one of my friend buying thru agent too. It is really all about bullshit and how unethical developer doing their business …
Just imagine 500 household with 2 car parks, then the extra 500 car parks will park outside along the road. Pity to those putra place and putra marine
hi bros and sis,
I went to the office today still have some units left for 400+, 600+, 800+ & 1300 sqft category.
Would like to know more information about the 3+5% package. I know that the 3% will be deducted from the selling price. Say property price is 600k, then it is 0.97 * 600k
How about the 5%?
thanks.
I have been to a few new launches in the past…this launch by far the entails the biggest manipulation strategy by the developer. They first give priority to “members”, then open limited units to the public and everyone scrambles for the leftovers, then they increase the price each day so people will rush afraid prices will go up again, then they get agents to to bid for clients….I may come across negative by many but seriously think about it…they have actually made people to rush like mad and book a property. Inflated the price way beyond any price in that area. Overall its a long term 20 year project. But hypothetically if the economy goes sour I bet my million bucks that the remaining project will be abandoned until the economy recovers (can even stop building). The developer is not obligated to completed the whole thing as it is phased.
I was at the launch my self and really wasnt please…I own a few properties. This would be one im staying away from. Totally unethical
@GreenB
Yes. The price is after discount 5+3%.
@Carla
hi, you no need to get so high level if facing pool view. Some more each floor different by 2-4k and it is significant amount for small unit.
@smallunitbuyer
I got a 615sqft unit with 460k. What about you?
Hi smallunitbuyer
I got a 615sqft unit with 460k. What about you?
I booked a 1320sf during Sat session, not sure if I can change to smaller 800+sf unit, since there r plentty of available now. Feel like being cheated coz last Sat everything almost gone, now suddenly so many available.
@The Boss
Agreed with The Boss. The risk of not completing all the phases is high and the whole place will not look as good as the pic shows. Then the risk of not re-selling is also high..
Folks,
if u are considering to get a 1320sqft type unit (sea view will be block in future, price ~ 950-1 mil) why not consider The light point sub sale, 1450 sqft facing Png bridge (high floor) asking price around 930k…personally i believe this is a better choice.
Probably Ivory owns 45% of the units while Dijaya owns 55% of units.
Heard that the sales opened last saturday was by Ivory.
The sales by Dijaya just open on 4-Feb-13 in penang.
Price comparison should take in the time factor. RM 900K Net for PWC in 2016 on 1320sqft, The light 1450sqft could be RM 1.2M in 2016.Or I should say the PWC is actually selling at current pricing at 0.95×0.95×0.95 X ( the current net price )= __________ ac tual price.
However for me it is not just the price issue, something else as more important factors not to proceed.
Dijaya ( Tropicana City Mall ) started to sell since 1st FEB and I booked one during 2nd FEB right before the block C and D is opened.
totally agree with some of the forumers here
if the developer can come up with such dirty tricks during selling, what makes you think everything else after this will be clean and smooth?
dont let greed take over. this is the main reason why people get cheated into believing something more than it really is
so Pgster you booked a unit?
So many negative comments on this developer, don’t think subsequent sales will be as good as last week. Heard that now have many small units available, really confused.
Folks, low down payment and DIBS doesn’t mean you are getting a good deal. You are just pilling up your debt for future suffering.
Found out the master plan view from their sale house is totally difference compare to this website picture.
Anyone has the updated one??
The launching plan was not the latest plan and this project was not fully approved by authority either. Due to rushing to launch this, any old plan can be the latest plan. Good luck for those who purchase this project.
From what this guy have just said….Why are you people surprised that many unit are now available? It was all a scam from the start…As if the demand was so high over the weekend..sold out etc…all bullshit seriously!
The developer wanted people to rush for it!
artist impression can be fantastic
indeed true. the layout plan show dont know whether is approved etc. they may show something else in snp. assuming its signed soon? in 2 weeks time?
It can be very problematic with partnership project.. 2 different management & sales team/style. And may be a lot of conflict of interest along the way… Good luck to you all..
Went to the sales office today.
Based on the layout plan & building height, I believe the density is 30 units/acre.
But the concept of 5 linear blocks with swimming pool at the centre is so common and not outstanding, and this parcel itself has no direct access to the sea, and is seperated by 4 lanes road from the future sea reclaimation land.
My advise is to wait for the future phases…
I couldn’t go to the office today as got to work. Has anyone been there? Is there really a lot of units available?
I called the SA that I want to change to smaller size unit, told them reason I booked large unit bcoz smaller size all gone. They replied me ‘NO’. I will cancel my purchase, and show them d bank rejection letter.
if we buy this project, when should we apply the loan from bank? Now or end of 2013? other than investor, i think some small number of buyers will have their loan rejected.
If the actual development will only start later since it is a 4 year project, I think developer wants the buyer downpayment now to roll into their other projects. And any guarantee they will actually build it later, and if not, do they refund all the downpayment.
Things look and sound fishy. Better look into other standard residential proj like Ideal VP, where the profit might not be as high as PWC but the risk is much lower.
@Raymond Yap
do you manage to snap a photo of the masterplan or model at their new sales gallery (at Bayan Mutiara site)?
Too much inconsistent feedback on unit availability are sure signs of manipulation….why isn’t anyone taking note of this? The scenario is like bait thrown to hungry dogs in controlled batches. For almost half a million, you get a unit slightly bigger than a low cost flat! Then squirm and squeeze for the next decade to get the load off. Why?
Agree with Trap completely…
BTW, if the cheque yet to be cleared, u still could do some thing …
@SSL
They cleared the chq same day, even on Sun, u believe it ?
The developer must have an account with CIMB or Maybank at the QB mall, where the banks are open on the weekends. They clear the chq just so people hv no more second thoughts.
Ooo…they are hunger for the money and make buyer no turning back….i never see such a company b4 frankly (base on my past experience)
Nothing to snap. There were few A4 prinouts sticking on wall only. Nothing much to show… and yet can attract so much interest.@ks_rev
In my opinion, you can forget about the future shopping complex, as it’s complete nuts (not feasible) to have 3 shopping complexes in same the stretch… better wait and see how it goes.
And if recession comes in, guess which developer in Penang will be the 1st to go down under?
What is attracting the buyers are the great pictures of PWC that show the whole concept and the name “Penang World City” itself. It is none other than another property development. How much the concept will turn to reality many years later is anyone’s guess.
Cannot change unit? Really not customer first.
Don’t think there will be high profit for PWC. But one thing for sure, they will take 18 months to stamp the S&P. It is black and white in the S&P. They just want to “net” you so that you can’t run away.
@Elain
My fren is a VIP somemore, who bgt a few units, but when he asking them for favor to change my unit size for me, still no face give… hehe.
Just uploaded the details for Parcel 1A
https://www.penangpropertytalk.com/2013/02/parcel-1a-residences-penang-worldcity/
i went to their bayan mutiara office around 10.30 am,asked for the registration form, my number is 158 but i look around, only 50++ people there, i think a lot of people take the form for fun
i checked the price, i saw the smallest unit which is 622 square fts asking for RM 486,404 (don’t know is after or before discount) which translate to RM 782 per square feet !!! it seems like within 3 days, the price has increased so much…
for all the size, i saw there are many units left…
What was the original price?
Thanks Ken
It definately will impact putra place condo value can be increase to 650 per sqf then Putra place value should be rm650k also. But the different PP is leasehold…. may per sqf value is lower. Putra Place residents should be more than happy.
can change lah
@test
Must be many people drop, developer now nervous.
If Putra Place is selling at 400psft, PWC should be valued at 500psft for under construction project.
ur info incorrect
http://www.mudah.my/Light+Point+Gelugor-20165290.htm
light point more expensive
@Elain
But they are selling around 650sqf. May be due to Free gold compare to Putra Place. If Putra Place able to convert to Free Hold, then should aligned to PWC since just neighbour land.
@Elain
But they are selling around 650sqf. May be due to Free Hold compare to Putra Place. If Putra Place able to convert to Free Hold then should be aligned to PWC since just neighbour land.
Good point. No explanation on how to make this a “World City”? What should a “World City” have? What have Ivory offer?
Now just see condo/ studio….. nothing else.
@Unethical
It seems like a lot of the small units are book by investor club and dato and now they are selling it through agents. Please don’t encouraging this kind of practise.
Typical Ivory. Take forever to stamp the S&P. But ask for your downpayment within few days of booking. Sure “net” all the fish one. Then will slowly release some “booked” units to market with higher price, they shiok, investor club lagi shiok. They might take up to 18 months to stamp your S&P if not enough sales. I will definitely stay away from them, especially with this price.
@cl
Putra Place asking 400psft only, why need to pay 700psft for free hold? 10-15% is more reasonable.
I have made a stop cheque on Monday, so save the hassle to ask for refund.
SSL is referring to the Light Linear…..
High Floor –> 940k
Middle Floor –> 800k
http://www.mudah.my/The+light+linear+condo+gelugor-20134674.htm
http://www.mudah.my/The+Light+Linear+1475sf+3Cp+Seaview-20191026.htm
Folks, pls open your eye and ear. Instead of paying a picture or ellusion, pls GO to book Summerton which is only RM470 sq..why you need to pay RM750 sq just because of free hold? Paying >RM500 for units 621sq?? Y guy must be seriously need to wake up. This is just my sincere input. The choice is yours!!
i think we cannot simply compare summerton/putraplace with pwc just based on leasehold and freehold or simply within the same area.
Take example gurney silverton vs gurney paragon, Platino IJM vs Bayswater IJM, Simfornia 3ST by UDA vs Seri Tanjung Pinang 3ST by ENO… they are just nearby BUT the price and demands are totally different . . . . just my own thinking.
Penang properties is more towards perceptions…… if it is a huge masterplan like Seri Tanjung Pinang (ENO), Light waterfron (IJM) and Penang WorldCity ( tropicana Ivory )…..all ppl rush to grab it.
20k for floor premium, a bit high don’t you think?
@topenag
The problem is we can’t see the difference between PWC vs Gold Coast except for seaview for Gold Coast vs free hold for PWC. One is 500psft, the new one is 700psft.
I also cannot see much difference between Platino Vs Bayswater .
That is why i said penang property is towards perceptions. if more ppl think is better deal, then it will appreciate. But whether it can sustain or not, that is another question.
Few years back when agent recommended me to buy Seri Tg Pinang 3ST at RM1 Mil, i said ” are you crazy RM1 mil for terrace with small car porch ” ? At that time you can buy a semi D at Tg tokong/Tg Bungah area for the same price or even lower. And now , It reaches RM1.8-2.0Mil……is even higher than old semi d in tg tokong/tg bungah.
The questions now is whether PWC will appreciate better than gold coast or putra place in terms of % in 3-5 years time ?
For Parcel 1A, the “macro” location is good, the “micro” location is bad…
Some blocks next to highway just like Desa Putra, some next to the sometimes-smelly canal, and why are the units facing either west or east?
I feel that it should be priced at 600-650psf, well, at this point of time.
@topenang
You will know when you see many people “return” their units to Ivory. It is already happening as we “speak”.
Now they launch the smaller units,I m getting mad
@pg guy
definitely you will see ppl cancel and ppl buy. From what i see, whether it is a good buy or not, pwc will proceed. It is unlikely this jv between dijaya and ivoru will be abandoned. . Furthermore, they hv purchased this land for rm 1 billion. I would say eno quayside, the light and pwc will appreciate the best….
Developer playing the trick. At first the small units all sold out, but actually they want to create false perception that their prop is selling well. Now they throw more units out at higher price and let ppl rush into buying. Smart tactic. PWC will proceed only when they hv enough buyers n then get snp stamped. Once snp signed, buyers will be at their mercy.
Purchased but not paid to State government yet… i.e. RM1 billion in debt.
BTW, Phase 1A is not attractive, so why the rush?
The Linear has much more potential, selling at RM550/sqf. only and still it’s sluggish in sub sale market.
Overall, it’s HIGH RISK to invest in PWC now.
Jack
i agree with you. Developer is using worst to best strategy . They will launch the worst unit first and keep the best for last. This is normal in anything like car. They launch new model with old engine, then facelift, then new engine…..etc .
Raymond
Pwc buyer also purchased with loan. Not paid yet. I also like the light but it is a bit inconvenience now.
If Ivory can trust, pig also can climb tree. 700 per sf not worth for this developer. Their success story all not success story.
Normally if there is a group of investors wanted to take up all the small units, they will at least select only the good facing units, not completely the whole block from bottom to top. Does not make sense, this indirectly sent the signal to everyone the developer is playing trcik to sell the bigger units when launching block c and d since they learn that the smallers units can be sold easily after block A and B. If the developer can use this to treat their customers, no matter how well the potential of the appreciation, all buyers stand at high risk position. Besides, are there no more property to buy or invest in Pg anymore wif we have the same extra fund ? If the answer is yes, then just proceed for PWC without further delay.