Waterside Residence at The Light, Penang launching soon from RM749,000
IJM Land Bhd, the property development arm of IJM Corp Bhd, will launch the Waterside Residence at The Light in Penang sometime in December.
The Waterside Residence is the first residential tower of The Light Waterfront phase 2, with an estimated gross development value (GDV) of RM240 million.
Situated on a 4.27-acre freehold site, the Waterside Residence comprises three residential blocks of 17, 25 and 33 storeys, housing 256 units with two and three bedrooms.
The condo units have built-ups ranging between 1,055 sq ft and 1,270 sq ft with prices starting from RM749,000.
With a GDV of RM6.5 billion, the 103-acre phase 2 of The Light Waterfront also features a mall with a gross retail space of 1.5 million sq ft, thematic shops, a convention centre, two hotels offering a total of 750 rooms and an office tower.
According to IJM Land’s northern region senior general manager Datuk Toh Chin Leong, each Waterside Residence unit will come with at least two parking bays. Amenities include a swimming pool, Jacuzzi, gymnasium, reading room and storage lockers.
“Our target audience are homebuyers who are looking to own a moderate-sized unit in the metropolitan area, as Waterside Residence is located opposite the proposed mall and convention centre.
Register your interest for Waterside Residence
“The Waterside Residence is expected to be completed by 2020,” he told TheEdgeProperty.com.
Meanwhile, IJM Land managing director Edward Chong said the Waterside Residence will see a “healthy interest” among potential homebuyers, owing to its strategic location and upcoming surrounding lifestyle amenities within walking distance.
Chong added that in 2017, the developer will largely remain focused on affordable and mid-range products that meet buyers’ aspirations and affordability.
“New launches in the pipeline are priced to target first-time homebuyers and young working adults,” he added. “Next year, we expect buyers to be discerning. Affordability, location and connectivity should remain the determining factors.
“Good projects in strategic locations and priced appropriately shall continue to attract buyers,” he told TheEdgeProperty.com.
Upcoming launches in 2017 in Greater Kuala Lumpur include Riana Dutamas in Kuala Lumpur, Riana South Condominium at Bukit Manda’rina, Cheras, Rimbun Harmoni 2-storey linked homes at S2 Heights in Seremban 2, and a new phase of affordable double-storey terraced in Bandar Rimbayu in Telok Panglima Garang.
Meanwhile, in the northern region, it is looking to launch Senjayu’s maiden phase of terraced homes in Jawi, Penang next year.
Read source: TheEdgeProperty.com.my
Pm
@Hng chun siang
spoon feed
Targeting first time owner who can buy rm750k condo. Clap3. Fresh grads now are filthy rich. 20k standard i guess.
Good! This is very good for blocking out noise for future condos inside, just like Light Linear.
Anyone bought?
Seems like the pricing better than Tamarind and Queens Residence. Low density with seaview summore!
Pm
future going to increase price till 1.5 millions a unit… Fast BBB !!!
Price increase does not mean good investment or nice to stay. This is old tricks. Only stoops fall for it.
Pricing wise they are following the Tamarind. Whether it is better or not is debatable. I bought my 1050sft unit at level 31 for rm730k. Waterside is starting at rm749k for 1055sft level 1. Location is most important. If you want to rank by location then it has to be STP first, Queensbay area second followed by this Light. Ranking based on popularity and balance of commercial to residential properties. 1055sft touching rm1.5 mill in the future, not going to happen in the next 15 years. Simple GDP and capita per income will tell you that such prices can’t be supported by current income.
Yes location is important and so is the density.
Tamarind is >1000 units, Waterside residence is not.
@ranee
1000 units in an area that everyone want vs 200 units in an area that people don want
You decide
Haha… 1000 units everyone want? that is very subjective…. what you want and think people want is not neccessary the one… STP is a nice location, but that 1000 units one is definately not the one… both project are okay la…
Property investment is always about location location and location. Look at good locations, densities are usually higher because the demand is there to support such high density. Secondly, where are the expats staying, STP. That means rental wise it is going to be better than renting to locals. No hard feelings but it is a fact.
Over the design village blog, you have war between mainlanders vs islanders. Here, you have war between north islanders vs south islanders. That shows 2 things (1) property market is very bad (2) penang people very childish and too free.
ohhh.. your name stink….@licktheshit
tamarind free i phone 7, tamarind win even 10k units go go go ha ha
Booking is available now. Better units(high floor) all cost >RM900k(for 1000++ sqf). No direct sea view as still got future projects in front(unless you buy bigger units which face The Light Collections). To me, it’s just another Vertiq except low density…….
Completion : Y2020
@Lol
Expats working in FTZ staying at Elit Heights.
@Lol,
I agree with you on the loaction part. There is nothing wrong with STP… EnO did a great job. The demographics is great.
But that does not mean you have to digest everything thrown at you right? >1000 units but you have no issue…haha… I am fine with that. No hard feelings also… if buy
for own stay okay .. for long term investment okay… short term not ideal… be prepare for hard landing. I dont see how you can gain an edge and differentiate your home with the 1000 units… decent facilities and concept… Will it outperform other prop in the market with over 1000 units … Dont think so…. this is also like you said, facts.
The only thing i think the Tamarind won hands down is the super density….
@CKS
I agree with you that Tamarind is expensive given the density. But in my 15 years of agency experience, my expatriate clients almost never ask about the density of the condo they view. At Quayside, there’s well over 1000 units in there, but it’s still popular with the expatriates.
Well, it might not be attractive to the expats anymore when the sea view at Quayside is blocked by a huge man made island (check out the Penang Structure Plan 2020).
@Jibril
Actually, the man made island and gurney wharf would make this place even more sought after by expats and foreigners. Gurney wharf will have the longest coastal linear park in Asia, right next to a soon-to-be-unveiled upscale shopping promenade. With proper branding and publicity, it will be a major tourist destination, in which most luxury brands would want to set up shop.
I didnt say it is expensive. please if you will, dont compare quayside 21 acres and tamarind… thats x3 the land size its sitting on… expat will definately prefer quay side than this downgraded version… simple logic isnt it. I lazy to elaborate more…..
If youre from an agency, isnt it your job to provide a sound proffessional opinion and advice to your client? Doesnt ask doesnt mean its not tangible, at the end of the day, you,re not liable if something screws up isnt it.
@CKS
Hi everyone. Again it is location, location and location. Density doesn’t matter. I own a unit at Quayside too and if you visit Quayside more than 70% are foreigners there. As for Tamarind you will still target expats, maybe not Europeans or Australians or Americans but you will get Japanese, Koreans etc
The new island is located in front of straits Quay. It is already taking shape, you can do a site visit to see the location and that will add more value to this location and it connects a Gurney drive to STP 1,2 and 3 in the future.
@CKS
As an agent, yes, it is my job to provide a sound professional opinion and advice to my clients. However, I do not make prejudgement for them on what actually is considered too dense to live in. And the FACT is, there is no complains so far, with quite a number of them staying for more than 2 years now. And yes, with only one third of the land size of Quayside, Tamarind is in fact expensive at the current price range, rental yields will be very low.
@Lol
You are right, it’s LOCATION. Most of my clients insist on just location.
There was a shooting in front of the light yesterday. Right in front of this project. Bad location or Feng shui?
@Rob
Yes, this place was cursed from day one.
By the way, I heard they found one bullet within the compound of Light Linear.
Dont let feng shui and other superstitions cloud your judgment lah . be practical please
oh no….this place is not only for blocking noise, for blocking bullets also!!
@fongsin
Nothing can block sunami.
@sara,
Thanks for response…. Okie, I can buy your points…
@Lol,
I am owner of units too. Nothing I want to comments further… Clap clap clap…
People who bought tamarind will say it good and people who bought waterside will say it good. Else they won’t buy also. which one better,only future will know. Today is official launch for waterside or they launch previously?
How is the take up rate in current market condition?
today is official launch…..but few weeks ago already can start place booking.
great location
still got empty unit?
if last time ,sure sold up within few days
those days are long gone.
current market is slow..everywhere also same
unless your talking bout the affordable segment <500k
but queens resident seem like gave more rebate than this one,donno which one to choose
what rebate IJM gives for this project?
Looking at their Waterside Residence brochure, it looks like IDEAL giving better landscaping to Queens Waterfront. Also Phase-2 of IJM (commercial activity) is so un-certain at current situation, where QB mall area is already a proven success.
If buying for investment, I will place my bet on Queens Waterfront.
@LamKT
1% rebate,yalo. that is the fact that queens can see actual mall, but ijm see nothing.
wtf 1% rebate only ? ask them to get lost….LOL
Also IJM is not that great in creating a sustainable commercial environment… At least E&O is better than them (Straits Quay Marina mall).
You see IJM’s AUTOMALL now had become spa, kopitiam, food place. Where got “auto” elements ? Their Udini square also GG already.
Hi there, please PM me at gonggonggong1235@gmail.com if interested about this project. Could earn some pocket $$$.
@LamKT
For the light phase 2, IJM will be partner with SG developer Parennial to develop, for the commercial mall, it will be success and definitely won’t be the same like Udini.
FYI, Temasek just scrap the project to build BPO tower in bayan baru, what makes u think this Perennial wont do the same.
Singaporean are smart, in current economic situation, they will save themselves first. Donald Duck president will save USA, China work with Malaysia to isolate spore, spore economy already in deep shit soon.
Not scrap, but postponed.
Markets are cyclical. When the market picks up, it will resume.
Lets hope for the best.
Anyone interested to get 1 unit could PM at gonggonggong1235@gmail.com, get some pocket $$ during Chinese New Year!
Any one go to the ijm event?any interested package?
Got DIBS package ?
No free food, IJM kiamsiap !
No food but got drink, they prefer dump $$ for construction material instead of marketing
[2024] I am looking to rent a car park. May i know if anyone is willing to rent out a spot? Please send me an email. Thank You