Tropicana Bay Residences @ Penang World City
Bay Residences, the phase 1A of Penang WorldCity development by Tropicana Ivory Sdn. Bhd. Strategically located within Bayan Mutiara, a new development hub located in the eastern part of the Tun Dr Lim Chong Eu Expressway and in the vicinity of Sungai Nibong. Comprises four 22-storey residential tower, with condominium unit size ranging from 455 sq.ft onwards.
Property Project : Tropicana Bay Residences @ Penang World City
Location : Bayan Mutiara, Penang
Property Type : Residential
Land Tenure : Freehold
No. of Blocks : 4 blocks of condominium
No. of Storey : 22
Built-up Area : 455 sq.ft. – 1,945 sq.ft.
Indicative Price: RM359,900 onwards
Developer : Tropicana Ivory Sdn. Bhd.
Register your interest here
Contributed by reader (Update – 02 Oct 2013)
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Bayan Lepas, Sg Ara area condo.
All mainland area hard to move if above RM400k (including landed property).
Good example. She can’t move Gold Coast because its not RM500k. It is >RM600k. There’s no market. Demand is low. If price drop 20% to RM500k for Gold Coast, demand will pick up. Engineer also no money to buy >RM600k house.
So wait a bit. Penang house price will have massive correction soon.
Bayan Lepas, Sg Ara area condo.
All mainland area hard to move if above RM400k (including landed property).
@mmm
Good example. She can’t move Gold Coast because its not RM500k. It is >RM600k. There’s no market. Demand is low. If price drop 20% to RM500k for Gold Coast, demand will pick up. Engineer also no money to buy >RM600k house.
So wait a bit. Penang house price will have massive correction soon.
@Concern buyer
Hahahaha most Engineers are poor including myself as a PE (poor engineer).
I think the main reason hard to buy a > RM600k house was mainly because of the interest rate.
If interest rate was as low as 1.5-2%, i believe many people will afford to buy houses.
Now buying a RM500k house is like paying RM1m at the end of 35years loan.
So it is case by case basis la… Regency Heights RM400k nobody want?
@Teng
“I only believe in speculative buying of property that has spiraled up the price for the last few years”
Well, you said it yourself, “speculative buying”. The state gov has tremendous power in controlling land/property matters. Why have they not put in policy to stop speculation? And they have actually exacerbated the situation by selling large tracks of land to private developers. I hope the state would do better in Batu Kawan. Don’t screw up any further!
What’s wrong?
“I only believe in speculative buying of property that has spiraled up the price for the last few years”. Well, you said it yourself, “speculative buying”.
Why has the admin not put in effective measures to stop speculation?
They have in fact exacerbated the situation by selling large tracts of land to private developers!
And guess what the developer did to make money after buying the land? They sell it to another developer for profit, before even building a single inch of homes!!
I am just wondering….. how is the Quay West Selling?
Any idea? Sorry i am not base in PG so i have no idea……..
Ok… lets jump into conclusion
those can afford to buy at this price go ahead
those cant afford dont buy..
Those want to wait can continue…
end if story…
@behpangsai
Bla bla bla…
Funny talking by China property agent during current China bubble:-
Mr. Su, the real estate broker, worries that the market tumult shows no sign of ending. “There is not much else I know how to do,” Mr. Su said. “Maybe I will consider selling insurance on the side, if business continues to slow.”
Lai lai!! Price still reasonable
sama-sama goreng~
So long story today …
But, don’t forget this is PWC-TBR page …
Any updated new for this PROJECT?
When can start Foundation Work ?
Who is the buyer can help keep updated it. (*.*)P
This story tell us, wait PWC price decrease to 400psf only sapu, funny?
Nope. This story tell us that majority Penangites have no means to buy over than RM400k condo. Those that have money to buy more than RM400k condo already bought or already invested in one. So that’s why there’s no subsale market for anything above RM400k condo. So buyer/investor/flipper with condo that cost more than RM400k are stuck. You can’t even rent it out because supply is more than demand.
This signal the fall of Penang property market and the market is crashing now. If you’re free, you can go to subsale market to ask for 20% discount. YOU WILL GET IT!!!
@lol
This story tell us if you’re buying this to flip, you’re going to have a tough time later. But if you’re buying for own stay, who cares if you pay RM5kpsf for anything at all!
Actually quite good advice for any buyer out there.
50% of my gross salary goes to mortgage loan. Does this healthy?
Depend on your lifestyle bro.
Average lifestyle, but not much saving at the end of the year (~5k per year). How about others, how many % for mortgage? I just want to know whether i over commit to mortgage.
Definately better if u compare buying a car with 50% of gross salry.
I think its fine… will make u work harder lol…q
if find it difficult than just rent out ur unit. And rent a lower price to stay…. thats what i did for my 1st property
@ex
It really depends on what your income is.
If you earn a salary of RM30k a month, a 50% mortgage would still leave you a decent amount to spend on other things (eg. a bmw, ski trips, wine & dine ).
If you earn a salary of RM3k a month, you would have to take motorbike to work, and eat economy rice for dinner. A horny gf would be handy, as you don’t have to spend money for outings, just stay home skru whole day, get more bang out of the mortgage that you are paying…..:)
@ex
My advise to look at the overall big picture.
Entire monthly debt ratio good to be kept around 60%-70%.Of course the lower the better.
That including your cars, houses and other monthly installment cost.
@bta
@equals
@IsaacTan
eeyerrrrr….
@ex
You got a unit at PWC? From phase I?
*you
@ex
Not about being lust. Just can’t stand people for being disrespectful
@Concern buyer
20%?! Any successful case?
hope this doest not become a similar shineville park thread.
We should talk more about the project and not others non related stuff…
i heard foundation work will start june/july. anymore heard of it as well? just wonder with more than 1300units, can they complete on time.
Everyone hopes to buy property/ies when the price is low (how low is low?) especially during economy recession, govn cooling measures etc., but in actual when it happens, not much people dare to do so, a lot of own-created excuses, constraints & considerations will stop them fr buying. Years later these ppl will regret & blame themselves while their mouth open wide looking at others making money…
When u think the price is high, pls bear in mind, it does not apply to all. Rich ppl are increasing every single day, & importantly every single person values thing/s differently…
*No one can guarantee it is a bad or good investment.
For those who own a TBR unit, do save more within these few yrs if yr holding power is weak. Bad time don’t sell, can consider to rent it out to cover yr partial repayment/installment & so-called bank’s interest. It is freehold after all, why rush?
@khtan
If cannot rent out how? how many unit in total for TBR? Not to mention other project nearby. Everyone also apply same strategy then will it still work?
Every investment comes with risk, no one can 100% sure whether u can make $, can or can’t rent it out. For instance, if the condo rental demand is high now at that area, will it be still high when u obtained the OC about 4yrs later? It’s all about risk taker or risk adverse…
@Concern buyer 2
Some sub-sale units come with existing rental contract, it might be another option for u, but there is also a risk u might face when the existing rental contract expires… Risk again…
Agree
Do not count on rental. Current rental market is bad as well. Either you cannot get tenant or bad rental return (~2%)
Do not buy the property if you are not ready to fund the installment.
Will Penang property market go up again??
@IsaacTan
Of course yes. the question is when?
Don’t forget that before 2008, property has been stagnant for a long time. it is after 2008, it suddenly rocket up.
@Concern buyer 2
As a rough guess, how long will this round drop/stagnant last?
1997 – 2008 was the stagnant preriod. I bought few properties at 20% discount during those period, including 1 in pulau tikus, so called prime area.
So, take your time. 20% drop is a good guide. But possibly higher drop this time, as price is over inflated.
@Rich Man
Thanks and no wonder you’re a “Rich Man” now…
This is TBR sharing forum and now we have so many self proclaimed guru giving advice.
If people want to buy or not buy, it’s their choice.
@pwc
Yes, I agree with you, the final choice of buy or not is the buyer’s own. However, I think what these people are trying to do is to give potential buyers more info, more point of view to consider before making the choice.
But I can sense that a lot of people are frustrated with developer’s sticker game, with the authority doing nothing to stop that. What happened to consumer protection? Doesn’t the state gov think that the buyers deserve fair and transparent trade?
your suggestion is good … developer must provide real information ..
If the intention is to give more info etc to potential buyers, its fine. You and I know some obviously have ulterior motives. I personally dont like ivory but i think the forum is now diluted with too many self declared gurus opinions which are mostly not related to TBR.
For PWC, you should be more concerned on project abandonment, rather than price drop.
@Rich Man
I have some sour grapes, want some?
I didn’t say anything about rental return, I said can consider to rent it out to cover portion of the mthly installment and/or bank’s interest during bad times if the selling price drop… I don’t believe those can afford to buy such condo for investment can’t afford to pay their own $ about 20% to even 40% of their mthly installment after rental fee deduction…
Forum is for info sharing, good & bad comments only serve as references, final decision still up to the one who perceived it…
Encouraging ppl not to buy may be good to that particular person as less demand will lead to price drop, then he/she might grab it to make $$$ in the future.
To me, no risk no gain… Importantly once committed a unit, let’s hope for the best in time to come…
Take smart risk, make smart money. Simply take risk, loose dumb money. No risk no gain, that’s only one side of the coin. There’s still the other side.
I think next stage of progress is coming soon. Received
1)letter from TropicanaIvory sending letter to lawyer firm to confirm buyer loan all approved.
2)confirm letter from lawyer firm that the loan amt with bank process all complete.
By the way, for those taking Maybank loan offer, anyone know when we except to see housing loan account no to appear in our current bank account? or we still need to go bank to do it by ourown?
Invest penang property, be a millionaires no longer just a dream.
If so easy… you won’t see begger on the street.
@Rich Man
How you know? Maybe beggers are flipping too!
If price drop, just hold on and you will recover / gain when boom returns.
If project abandoned… you lose all, and carry debt (for nothing) for the rest of your life. We are talking about a million here, it’s not a risk, but DEATH.
Do tell us whenever u think is good time to buy, as per yr prediction >20% drop, i might want to grab… thks in advance!
No one is going to tell you that. You just need to open your eyes wide wide. And get ready with your money.
@KH
Forget it. They like lousy weather forecaster, every month keep saying “it is going to rain”. And because this, we cannot plan our hiking trip, because it is going to rain mah according to “experts”. Until one day, dont know after how many months, one day it does rains, and the weather forecaster proudly says “I told you so”.
Hope the price to grow healthily……
@Concern buyer
U get me all wrong man, i m saying d opposite way, since he discouraging all ppl not to buy… lol
Now the weather forecaster say going to have typhoon. Don’t say go hiking, stay at home also dangerous.
@ezalor
totally agree…
@IsaacTan
me too…
@foo
If I keep listen to those “experts” since few years ago, until now I still cant have my own house. Because property price going to collapse mah…why so stupid buy now instead of waiting to buy in “very near future” when we can get 50% discount.
My colleague got Maybank loan for other project. It will be autolinked to maybank2u once the progressive payment to developer is started.
Few years ago got DIBS and price still low. DIBS is causing the property price to go very high. And most household take up huge debt to buy house to flip causing household debt to climb.
The current pricing is not healthy. It is supported by high loan ratio. Also, there’s not many buyer that can afford current pricing (that went up the roof due to DIBS and property agent).
So you can’t compare 2011 and 2014. Even China property market especially in HangZhou is popping. So in Penang where the supply exceed demand, bubble will pop soon.
Don’t worry. Those flipper that have money can hold. Those that can’t, lol…BYE BYE
You are right, if the project is abandoned, even if you hide at home, the bank will still come to see you… and will sue you until you dry.
@ezalor
Your weather forecast reminds me of my mum. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home. My advice to her was :-
(1) If your laundry just came out of the washing machine and still wet, why worry, just hang it outside, you have nothing to loose anyway even if it rains.
(2) If your laundry is already half dry, why risk it as you can easily dry it indoors under the fan.
(3) If your laundry is 90% dry, what do you have to gain by risking it outside?
The thing is, sometimes when the sky looks sunny, it could suddenly turn gloomy. When it’s gloomy, there must be something coming, but no one knows if it’s a storm or drizzle. You can’t accurately predict weather, but you can make a pretty good judgement if you consider what you stand to gain and loose.
So comes back to property, if you think you’re very likely to have plenty of upside for the next 3 years, go buy lor.
If you think things are going to be stagnant, do you have more risk than reward if you buy 2 years later? Or have you forgotten about the FAN (alternative investment)?
@ezalor
Your weather forecast reminds me of my mum. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home.
@ezalor
Your weather forecast reminds me of my mum. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home.
@ezalor
Your weather forecast reminds me of someone. She is always indecisive about hanging her laundry outdoors when the sky doesn’t look that sunny, especially when there’s no one at home.
HOw nice if we could buy property by cash….
Then less worry on bubble, typhoon, can’t lease out or etc…..
Hope gov could slow down the land selling process to control the price growing healthily or at least slow down the bubble (as claimed).
@IsaacTan
Damage is done. There’s no turning back. Flippers are stuck.
@islander_ori
OIC. Thanks for the info.
I am asking so because my offer letter have 1 weird requirement due to i request not to take MRTA, they say if dun take MRTA, at least take another product like credit card. Die die also want to add “something” in the offer letter. I talk with the loan agent that I dun want credit card also. Finally the offer letter say I must open another current account(extra) + loan account. If for some reason no $$ put in loan account, they will auto deduct the installment from current account to loan account.
ok.
@Concern buyer
Own stay also felt “BO TAT” because feeling your house value depriciated. If interest rate increase then also “Kena”……..
@IsaacTan
You are right Isaac. Its called negative equity. In USA, when the housing bubble pop, a lot of home owner feel “BO TAT”. So they refuse to pay the loan. And this causing a lot of bank in trouble. Economy suffer.
Hopefully Malaysia bank are strong enough to go through this suffering period.
Some question regarding to SPA, appreciate those PWC’s purchaser advise.
According to PWC’s lawyer, developer committed 48 months completion of SPA stamp date.
For my case, SPA stamping date in May 2014, what if PWC deliver in Apr 2015 then I have no right to claim the late charges. This is what I was told by PWC appointed lawyer. Anyone here please clarify?
Sorry typo error. Should be “…deliver in Apr 2018…”
@Bruce
That is simple and clear statement: 48 months completion from SPA stamp date.
@Bruce
Your lawyer is right. 48 months counted from the data you signed S&P. If you are the late buyer, very unlikely you will get compensation, unless the delay is really huge.
@islander_ori
@foo
Thank for your confirmation.
why quaywest 204 comments but TBR 2482 comments?
@Jj
Almost the entire BLK B in Quaywest bought by investor club for flipping. That is why only 204 comments..
BLk A is too expensive (average above 1 mil).. who can afford or willing to pay such expensive price for a property by an incompetent developer – asiagreen?
Asia Green is the problematic developer of the Clover project that still cannot proceed. LOL.
That is correct concern buyer. Better avoid projects by such developer. Even getting their plans approved also took them 2 donkey years. Buyers would be lucky if they can get their keys in the end.
The funny thing is that Asia Green doesn’t submit the plan on their own, its done by Ivory. They already started selling openly even though up to-date the plan still not being approved.
Therefore, Quaywest is a bit of un-certainty, those who have booked may ended up losing it, getting back something different (change in plan), or will get exactly if lucky enough. If Ivory is low class in its marketing strategy, Asia Green is definitely one class lower.
Tropicana ivory office said. Piling will start this June or July, And will take 5 month to complete..
This year can complete piling, 5 months can complete piling?
Hi All
Wanna ask, have your loan lawyer collect the fee from you guys?
Regards
JayJ
Sure have Charge Lawyer Fee lo ….
@JajJ
Paid during signing the documents.
How’s the sales doing???
went last week, saw below 20 units left
My wife seeeeeems to like this project very much……………tell me to consider……mmmmm.
The construction site has been fence up. No piling work yet. Three visitors around making enquiry. sea view looks nice.
Its quiet and serene………………the lonely bridge is not just far out…….
@Yy
Did you ask her what she likes about this project? Does she know that the seaview that you might get (assuming the unit comes with a seaview) will be gone very soon as new phases is being launched will be blocking the view? Just ask the sales person, they will tell you that.
And you say it’s quiet and serene? Hello? Pls wake up my friend. It’s located right next to the highway.
@Yy
The general concept, layout etc is very good, i believe most of the people will like it! (Dun talk about price :p), those latest movie clip about the general master plan etc makes the whole project looks interesting.
Anyway, must accept this project will not have seaview after future phase comes out unless u able to get those highest floor u might still got little chance…
For Quiet and serene, E&O Seri Tanjung Pinang isn’t it a better choice?
@IsaacTan
STP too far and too expensive for most.
@kt
Agreed on the price. I thought that area was near to Gurney?
Another question i had in mind was about the reclaim land. Nowadays saw most of the developer built right after they reclaim the land. Not like last time that they waited for few years for the land to settle before start building anything. Was that the right way to built or it has been factor in with improve of technology?
STP is only for the rich and the foreigners. Local working class can’t afford it. Tropicana Bay is definitely noisy, The Light Linear is a good lesson, price going down.
@IsaacTan
Too far from the bridge and FTZ. Too expensive for the MM2H. Serene not too sure since they have massive reclamation there very soon, dusty will be yes for the next 10 years.
Thanks everybody.
Serenity is always in the heart. Though you can be in a noisy airport or even in the midst of KLCC, you see vehicles flow around you, people rubbing against your shoulder, laugh and cry…..u still feel calm and ..there are smile inside you.
Finally I decided to book one. Luckily I manage to get a highest level ( 22 floor ) . I am a late comer, right? Hope to be your friendly neighbour one day. Nice to meet all of you.
@Yy
You’re absolutely right! As long as in your heart that was your home sweet home than will be more than enough.
Congrats on your new home, all the best and hope you will get your nice home soon.
When you get your home, can invite us for a beer? Cheers……
@Yy
Agree with you too. As long as your heart and mind is calm, no matter how noisy, you will feel happy too.
Maybe you should consider Light Linear, good workmanship and you can easily get it now at RM600psf. It is much cheaper than Tropicana Bay psf-wise.
You get a seaview too, no risk of view getting blocked as almost all the projects in front of it is completed. It comes with very nice common facilities too. The reason for the low price is the noise, but if you’re the type with serene heart and mind, it is very good option for you. You can move in anytime, no uncertainty about completion date.
@bella
Apart from the “noise”, how about the maintenance fee ?
@huatchai
u want quiet environment, go to balik pulau or kulim. The light price keep going up. Prime areas definitely has more traffic flow. Gurney area super condo also noisy+ jam, do u see price drop?
by the way, the light area properties pricing are not as high as PWC, one key reason is the development still on going, let see what is the price will be after everything complete in few yrs time.
@Yy
Which block did you booked and how much?
@Strawberry
Maintenance fees are more or less the same nowadays. Plus, condo size is small nowadays, so 10senpsf difference doesn’t really make much difference.
@Nana
Price low at Light Linear due to on-going constructions? Then Tropicana Bay even worse, as you will be sandwiched by highway on the left, and construction site on the right. Furthermore, STP price affacted by on-going construction meh? Nope. The main reason for Light Linear price depression is the noise. But good for Yy, the man with serene heart. Hahahaha!!!
Call me serene heart now! No more Yy……………..What a nice title……….hahaha……….
Penang r developing in all aspect……… not only in property field, tourism ,education, investment…. in a steady pace…..probably is decelerate now….not slow down ..in the pace that a lot of people would like it to be……but we r not very sure , when all the townships r completed…….what will be the level of Penang then?…….. in the eye of Penagites………… in the eyes of Singaporean or Hong Kist or Chinese………..How they look at Penang………….cheers Penagites.
@bella
I said development still on going, commercial hubs, shopping mall, hotel are still yet to be developed. Road access is inconvenient at this stage, infrastructure is still on going. when talk about noise, tanjung tokong area, gurney area, even villa emas/putra place all these condos are noisy, but the price still at premium.
@Nana
Here’s some facts :-
(1) Noise is measured in dB. The “loudness” of a sound doubles roughly every 10 decibels, meaning 80dB is 2 times as loud as 70dB. 90dB is 4 times as loud as 70dB.
(2) Studies have shown that hearing loss is usually the result of continual exposure to volumes over 80 decibels.
(3) Data for Light Linear 15th Floor lift lobby – 82dB, House entrance – 84dB, Living room with main door open – 82dB, with door closed – 78dB
(4) Data for Silverton 7th Floor lift lobby – 50dB, House entrance – 48dB, Living room with main door open – 46dB, with door closed – 45dB (cut out the noise of birds chirping)
The main reason for the difference :-
(1) Truck at 70km/h at 100ft away – 84dB (highway area)
(2) Truck with container trail at 70km/h at 100ft away – 90dB (highway area)
(3) Passenger car at 95km/h at 100ft away – 78db (highway area)
(4) Passenger car at 40km/h at 100ft away – 58db (gurney area)
Guess what you’re gonna get for Tropicana Bay?
@Gaga
Maybe u can recommend which project that can meet your expectation in island??? no jam; no noise..
I do agree with other postings that now is not a good time to flip. If affordable, and meant for own stay or long term investment, just buy if u like it. If do not have holding power and sell with loss, then u deserve it; “goreng” = high gain high risk..just suck it up.
Queensbay area property price still got potential hike..such as Villa Emas, Putra Place, Gold coast. Rental is good price as well.
Hi Nana,
I commented in respond to the statement you made …”..when talk about noise, tanjung tokong area, gurney area, even villa emas/putra place all these condos are noisy, but the price still at premium….”.
I just wanted to highlight the noise right beside a highway is TOTALLY a different thing than usual noise. In fact, a little bit of noise around is good, the sound of birds chirping or wave are therapeutic. But excessive noise at above 80dB will be bad for your health.
You then might ask where in Penang can you find homes with surrounding noise level below 60dB. Plenty! As long as it’s not next to the highway.
@Hamik
It s block E. The highest level, 22nd floor. The original price is 844k .But after -8%-5% discount. ,it costs 738k. It s very much higher than the price it lunched last year.
@serene heart
What is the size of your unit?
@serene heart
you need to pay the progressing interest fee during the development right?
http://www.thestar.com.my/Business/Business-News/2014/06/24/Ivory-plans-RM14bil-projects-Group-to-develop-80acre-land-bank-in-Penang-over-the-next-couple-of-yea/
Next phase going to launch!
…
On Tropicana Ivory Sdn Bhd, a joint-venture company between Ivory and Tropicana Corp Bhd, Low said it would roll out Phase 3A of the Penang WorldCity development by the end of the year, following the success of Phase 1A.
“We manage to achieve over 90% sales for Phase 1A, so we’ve decided to release the next phase to cater to the increasing market demand,” he said.
…
my god, so those units in the current phase will be loosing their seaview sooner than I thought.
@ganesan
That is known since day 1…
for unblock seaview should consider property like the loft by mahsing la…
But the quantum is like…doubled? Worth it for seaview meh?
Probably you spend 50% of the time watching tv instead of looking at the sea..
@tomyam
Any idea what is phase 3A?
@Ricky
You mean the price is double for MahSing’s Loft? Oh, no wonder the sales is so slow.
Well, for the price you are paying for Tropicana Bay, you can easily get seaview condos in some other projects, except for the Loft.
@ganesan
2 different categories:
1) Seafront developments. Such as The Light, World City, STP, and the loft. Not necessary all units will have seaview, but the perk is the sea is just next to the door step or within walking distance within the precinct. These are mainly integrated project and upmarket development.
2) Units with seaview. Yes, these are easily found around both island and Penang, old property especially such as those in BF and Tanjung bungah.
Best of course is to get a seaview unit within the seafront development, if you cant have the best of both world, then either one would be just nice. Those buying property in penang, be it penangite or foreigners, just have a strong taste in seaview.
@Ricky
No idea yet… just newspaper info only.
for those taking housing loan from maybank, can open another account call PMA, once the loan start paying out, the loan amt will convert into point and we can have extra point to exchange some gift..
as long as maintain min 1k in the account, no any charges or maintenance fees need to give, this card allows you got priority lane in maybank which no need to queue up that long.
New for phase 3A.
473 unit of luxurious condo – from 771 to 1403 sf
159 unit of affortable house – 450 to 650 sf (erm… this is their definition of affortable house, but still not too bad if can get the 650 sf one)
News for phase 3A.
473 unit of luxurious condo – from 771 to 1403 sf
159 unit of affortable house – 450 to 650 sf (erm… this is their definition of affortable house, but still not too bad if can get the 650 sf one)
@tomyam
Already announced? How about the price?
I guess minimum 1k PSF…..
@tomyam
Exactly how many units in total for TBR? Phase 3A alone already >600 units?
@islander_ori
News publish on few website http://www.nst.com.my/node/5697
only reveal information like below
On another matter, Low said Tropicana Ivory Sdn Bhd — a joint-venture company set up be-
tween Ivory and Tropicana Corporation Bhd which has been set up to oversee the Penang WorldCity development — will be rolling out Phase 3A of the development by the end of the year following overwhelming success of Phase 1A sales.
“We managed to achieve
over 90 per cent sales for
Phase 1A, so we have decided to release the next phase to cater to increasing demand,” he said, adding that Phase 3A will com-prise 473 luxury condomi-
niums ranging from 771 sq ft to 1,403 sq ft and 159 affordable
units measuring between 450 sq ft and 650 sq ft.
@Pete
I dunno where is phase 3A. It might not be part of TBR as TBR is consider as Phase 1A.
PWC is a huge master plan with different phase.
i think 473 + 159 requires at least 2 block. TBR seems only left Block F(if got block F like their picture show previously). So very high chance it is on another piece of land plot.
Previously another developer Aspen have lots of affortable house going to build in tanjung bunga area, yesterday only saw ivory holding Aspen 49% of share. Seems like now all developer have some sort of join venture.
Work starts on TNB site….
But piling never start.
waiting…
The office said some time in Oct.
Should we keep track record for the Work Progress …
This good for future claim …..
Don’t think they will want to spoil their images by being late especially this is 1st part of a mega project. I would rather see they do a good quality job to give peace of mind to all buyers.
office people say piling from june to july and now to Oct?
just wonder why is already more than 9months since the 1st stamped SnP and work not yet started? dunno what they waiting for. Maybe need to wait TNB building complete and can power to start piling???
No complain, the longer the better, price hike more. Just worried the build quality if they rush at the very last min.
@yahoo
I think depends on the build team. Ivory got few project is in progress in Penang. If they have limited resources and team, they will focus those WIP project such as city residence and the wave. Only when those complete, then only come to this project.
So as long as it is ready by end of 2017, then is good for me.
I think focus on 1 and do it right on the first time is better. My colleague renovate her unit recently, the uncle come to work like 1~2 hours everyday only. They say business very good. Everyone call and ask them to work, so they need to show face at each house. Like this more torture when u see 1 tiang up and stop 3 months..
I like summerton progress speed. Quite fast since their pilling start.
Not need worry lo … They got 4 YEAR to waste … Normally From start Piling Work Until Completed just need 2 year only ..
They already got extra time to IMPROVE their QC …
@cm
I wish the upcominng phase wont launch too earlier. So they will take Phase 1A as a good sample for people to show their quality and build the reputation.
From my friend feedback on PTS project, she is quite happy with the build quality and does not complain much, so dun hv much worried on this. Especially the tropicana also join venture in , will surely more reliable as they already have good tracking records in other state.
any of the first phase buyers receive calls from the lawyer for an additional paper to be signed, and a fee rm800 stg incurred? was for some state govt new policy on the land issue.. pls comment..
@jgwp
no call from lawyer.
SnP or loan?
@islander_ori
so far CTS no call too.
Saw TNB site has been barricated.
Get called from CTS&L lawyer said they miss out a payment about land consent fee which pay to government for the loan agreement. It is kind of disappointment and questionable to their professionalism. The worst part is they can’t really explain the situation until I need clarification from my banker, furthermore, my banker can explain must better than them.
The only explanation I get is, the Clark makes it wrong, and she was resigned. Again, this is not a professional answer should come out from a lawyer.
Is a land consent fee they miss out….@jgwp
@looi
Ivory….i worry.. Totally can’t accept..
@looi
Please check on the comment page 10,11. I already kena from CTS last year. Wonder when you pay your lawyer fee? That time they told me they miss out this for this quote ..
Very high chance is you pay last year and you are one of them who “miss out” in the list.
So seems like I am not the only who kena this as last year i ask around, only me kena. Now again they start with this trick.
Best recommendaton for new buyer is perhaps should reconsider again if want to use CTS.. new now new buyer is free of loan agreement etc , so they have no worries too.
I did not use CTS for loan agreement.
I have sign the land consent paper. Have chat with the firm and they say most of the person who pay before July 2013 will probably need to pay this as the fees incur after that. For those who pay late Dec or this years, the cost/fees already include the consent fees.
Piling started for tnb site.
Work started at TBR site….
construction damn slow
@sheana
A lot of poor engineer is actually that the construction is slow during this slowdown in property transaction period. They are so afraid that the properly is build fast and they cant flip or rent it out. And yes, majority of these people are immigrants from other states. They have no intention to stay, and just buy to be a flipper. They hope that they can rip off Penangites hard earn $$$, but hopefully this time it bites them back.
@James
Property is build fast or slow is not determine by the buyers but developer.
TBR @ PWC sale is not good , so they tend to do it according to the pace of
tortoises.
really nit a good sale….? but according to the staff in PWC —- sale like hit cake…. unit sold off ready??
confused
Block E 8th floor, 872sqf at rm736k net, is it worth to buy?
Heard a lot of people cancel their booking after realise Asia Green bought the land infront of it, and potentially build a low cost flat.
Really, can I cancell my booking? Any penalty for cancellation?My loan is in progress now.Thanks.
I am think to cancel…
@Duck
When and Which unit you book? Any penalty charge on cancellation?
Block E still not sold out yet, if got cancellations, will they build the block in time??????
I stay at raja uda also got flyer price start from 488k, sure still got many studio unit cant sold out.
Actually I plan to buy for own stay , is it worth it?
@susan
It depends on your expectation and also relate to your budget to purchase the property, for own stay, there are plenty of property located in Penang, perhaps, you may explore more to have more idea rather than rushing in.
@james
Thanks. Can you recommend better place for stay in Penang with price of RM600k?
So, what happen if the project got abandon later? Who is going to bear the cost?
Saw banner with “Final Release” wording; 488k++. Anyone know what is that? Is it Block F?
Block F not announce yet…..still selling block ABCDE…….488k+ is refer to the leftover studio units in block-A lar……after discount 8% + 5% + 1.5%……net price is about there….
but too bad is facing west + highway and not furnished
@joe
wah.. now the package so complex already ?
8+5+1.5%? what is the 1.5% refer to…
@tomyam
May be 1.5% for DIBS compensation?
BLOK A B C D Start do TEST PILE
@lilian
Buyer lor.
How many units left in block E?
The remaining few units of 455sf studio are now selling above 1000psf after rebate
Penang property is ridiculous. Purchase/selling price sky high but rentalis cheap. Basic example, The View, now subsale 1M, fully furnish rent only 3500. So for this studio u expect to rent out for RM3000? Ahahahaah
They are expecting Pg going to generate ton of High income work force in 2018 onward. Spending 50% salary on rental not a big deal. Fresh grad can get RM4 to 5k salary, jalan kaki to work or public transport cause by then should be like Singapore laio…MRT at ur doorstep (walking distance).
@Lengchai
I think those who invest in new Penang properties now is not look for rental return..
coz penang property is famous of not able to cover rental rate..
may be just fight the inflation rate..
if can flip for 100k gain also not bad.
anyone got small unit to let go ?
Hi, I have a unit of 615 sf. Price RM610K.
Now developer price RM680K on the board. Do you want it?
If you have interest, pls drop me your contact.
Oooppp ….. facing East/Sea.
Thanks Hello 615 but looking for 455 sf type .
@mingzchua
you can visit PWC sales office, Bayan Muatiara. Still have 415sf units.
I thought the studio here is overpriced until i was told 517sf Light Collection 2 has been transacted 700k!
PWC studio is no way compare with Light-Collection studio.
(1) Light Collection studio comes with 2 carparks, PWC studio only 1 carpark
(2) Light Collection studio west facing unit comes with movable sunblock shield (at balcony)and not directly facing highway, it is separated by Light Linear condo and some trees from the highway. PWC studio is direct facing west and with highway in front, and no movable sunblock shield also. The noise is unbearable.
(3) Light Collection studion is semi-furnished. PWC studio is KOSONG!
That is why is offer mine RM610K …. any response?
@Hello 615
Which block/floor?
Block C, High Floor, Facing East/Sea. If further question, pls give me your contact/email.
@islander_ori
only high floor which is exp , out of my budget.
Any 1 can confirm phase 3a affordable unit only offer to first time buyer or open to all? if only for first time buyer need apply at komtar and must at least 750sf with price 400k, but this phase 3a affordable unit only 450sf and 650sf?
@affordable unit
may be here is prime area?
@islander_ori
415 sqft is the size of my master bedroom toilet.
@PPT
oh ya… then you can rennovate your master bedroom toilet and rent it out… extra income.