Areca @ Penang
Areca @ Penang, an upcoming mixed development by Titijaya Group in Batu Maung, Penang. It is strategically located next to Penang second bridge. This is the Group first’s acquisition and development outside of Klang Valley, with an estimated GDV of RM2.6 billion.
The 20.3 arce parcel of land will be developed in multiple phases, and is expected to be completed by 2023. This development consists of the following components:
Residential
- 25-storey condominium (299 units)
- 33-storey condominium (575 units)
- 37-storey condominium (503 units)
- 37-storey condominium (359 units)
Commercial
- 3 blocks of 36-storey serviced suites
- 1 block of 27-storey serviced suites
- 1 block of 5-storey shop offices
- Multiple level of shop offices (92 units)
More details to be available upon project launch.
Project Name : Acera @ Penang
Location : Batu Maung, Penang
Property Type : Mixed development
Built-up Area: 750 sq.ft. – 1,100 sq. ft.
Developer : Titijaya Group
Register your interest here
Location Map:
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confirmed leasehold
Interesting location. 800 or 1200 PSF?
so how much psf?
Price range?
at industry zone, mau cari makan susah! good for those working near there, freehold or leasehold?
Very much depending on the success of Southbay mall. The sea view is good though.
Price below 500k will be good
good…good…build a lot, flood the market with new homes, see how long speculators can tahan.
Leasehold, min built up 500sft
Leasehold, 500sqft?…I’m out
Why leasehold??
how you know it is leasehold?
Yes, confirmed it’s leasehold.
Read on news paper.
leasehold .. cannot buy
The state would be making an announcement regarding leasehold soon. The announcement would make leasehold as good as freehold. The aim is to flood the market with homes, regardless freehold or leasehold, so that the speculators would be cornered, especially those with no holding power with properties in sub-prime locations. Speculators beware, you’d better off load your properties fast before things get worse.
haiz…leasehold, later developer will say can change to freehold by purchasers, but see 1 World, kena liao lor, residents fight until press conference put can not change…developer really like to lie whatever to sell their project.
halo fren, resident fight is becoz commercial title issue, MPPP charge them very expensive cukai taksiran. Not becoz leasehold convert freehold issue lah.
when you buy leasehold, don’t think about convert to freehold. when you buy condo with commercial title, please be prepared the cukai taksiran will be expensive.
The main point is, when making property purchase, set your expectation right, don’t dream this dream that and fall into developer’s sweet trap.
So far leasehold projects give good capital gain, look at 1-world and summerton. As long as location is strategic and price is right, i don’t think it matters.
Sub-sales for leasehold projects such as 1-World and Summerton are not easy
to sell. Leasehold projects are just as good as dead.
so what about freehold projects in shitty location? that is dead dead dead too..
@Lousy
For 1-world, most of the subsales already transacted upon OC, you are actually looking at second subsales now. Asking price for Summerton $1.2M, not affordable for most.
The occupancy rate is very high compared to many freehold projects.
@jeff
Which place with freehold projects is considered in shitty location?
@Lousy
Kelantan?
The state will be announcing an auto lease renewal mechanism soon. It applies to all state leasehold land state-wide. Stay-tuned.
We are talking about Penang area not Kelantan.
@spitfire
Why not you say state leasehold land will be automatically converted to
freehold ? What is this renewal mechanism ?
Anyone can give me sales galery contact number?
alamak this is developer is from Selangor… their projects near my house in Subang Jaya… most of their project and units sell to bulk-buyers for secondary properties… then sell to people to rent out to college student taylors inti and sunway and more…. this kinda developer i dont respect… greedy bastards…. klang vallet is full of such developer… this titijaya is now trying their luck in Penang…. i almost bought their properties 2 times… thank god i saved myself… one was ‘first subang’ soho in SS15 and then the other is ‘Subang Soho’… thank god i changed my mind… later i went to their property to visit my friends… super lousy condition…. lol….
This project not open for sales yet.
wow didnt know people still have out-dated thinking regarding Leasehold properties. 1 SKY, 1 World, Summerton, etc all out-performed other properties in their area in terms of sub-sale demand and capital appreciation. 1 SKY and 1 World now mostly are on 3rd sub-sale hence less supply already. Almost all condo projects in KL are Leasehold and Commercial titled. Penang is just doing catching up with the trend. This is speaking from personal experience as past owner of leaseholds properties in Penang.
People who think otherwise must be kidding themselves.
The main point to buy a property regardless of leasehold or not is location, location and location. Full stop.
@Goppal
the price in subang already doubled.. i think you regret for not buying then.
Nothing good or reason to justify so the only way out is to say ” out-dated
thinking “.
Do you guys think like ” out-dated thinking ” using the left side of the brain
only ?
I think era crazy buy already over, the developer need to show the unit value > price 😉
@ren
i dont regret at all…. i bought other property by ijm both in P.J and Penang… price appreciated much better… and im not a person who simply buy property due to greed for money like most of you all….
Hey Lousy, sub-sale for 1-World already long time ago sold…left only few units from owners either letting go now or 3rd hand…for condo high demands usually start during OC time…after some time demand will go elsewhere either due to very little choice left or new projects getting OC like Elite Height…so please don’t post uneducated opinion…thank you
Hahaha……..long time ago ? Just admit it.
Leasehold vs Freehold is forever a topic in Penang.
Whenever we cannot afford landed freehold property, den we changed to leasehold property.
The truth is freehold landed property is ahead of leasehold property if the location is the same for sure. freehold 1 storey terrace in bayan baru can go exceed 1 million while leasehold stays around 600k. Thats the proof.
For condo or apartment, location comes first regarding leasehold or freehold. This is because the choices are a lot in the market regarding leasehold and freehold. My 2cents
What I will say is too much housing project at that area. Now supply are too much compare to demand.
leasehold or freehold..this keep thinking if you want. Now days it is very hard to get a freehold property especially in prime area. Of course freehold will have some advantage but it will sell at higher price as well. Reclaim land like Seri Tanjung Pinang (tanjong tokong), Persiaran Karpal Singh (sungai Pinang), Jeti Pantai Jerejak and some other place normally facing the sea are leasehold area..and this are prime location…so keep thinking who want to think about it. Don’t be too late to make your decision
Condo leasehold ok lar… 100yrs old condo u want stay mer… even 50yrs condo also mi liao..
What do u all think if compare this place which surely will be high end condo with leasehold title vs freehold luxury condo at sg ara by asia green (the clover), ideal vision park, fierra Residence etc?
Admin got any update on this project?
There are few pilling machines working on the site just after the exist from Batu Kawan to Batu Muang. Not sure if under this project
pls email detail. thanks