“One of the most notable features of this development is its automated robotic parking system”

Yes, must take note. So let’s say you left your house key in the car, and someone else is using the robot, so you just have to slowly wait for them to load their car, and then wait for your car to be unloaded, retrieve your house key, then load your car again. Right?

So when the robot breaks down, that means you can’t have your car, have to slowly wait for the technician to come, fix it, then only you can have your car. That’s at least 2 hours if you’re lucky, if the technician ever turn up at all (msian standard). By then, maybe your kids already miss their school or tuition?

In fact, this system is nothing new. Penang Plaza office building has the same system, which was installed 20 years ago. My advice, avoid this.

pm [facebook: Edward chengkc] me details later if details are available, I am interested, thanks

I’m interested

pls pm me, quinnkoh@gmail.com

I’m interested too , pls pm me

I want buy one unit. Please email me at alex_lee_889@hotmail.com

Rm1200 psft…..not worth buying.

Wow…Penang is getting all the fancy thingy.
Really Penang is developing

@IsaacTan

What fancy thingy?

If they install such robot, it is an in thing and will draw attention of Malaysian.

The system is standard thus won’t break down easily and will have plan B, C if it break down. But if it really jam and create issue, there goes the value of the condo. So you need to pray for it to be stable and no super clever technician in bypassing some of the features inside.

Happy investing.

we was been invited to the preview project presentation, the project are Office suite and not resident house, is a potential investment development in Penang. From the presentation the developer had study all the necessary happening on the car park tower. This mechanical are used in Japan for many year.

no wonder they had all hawkers moving away.

Nevertheless, at rm1200 psft which idiot would pay for it. You won’t even get the rental yield you are looking for and for price appreciation, slowly wait for another 10 years.

Even quayside resort the best condo in Penang with a 4.5 acres water park is going for rm1200 psft, foreigners buying and renting.

Let me ask you, which foreigner would want to stay in a jam and noisy area. You think they would buy because of a mechanical car park system? Only idiots or the super too much money do not know what to do will end up buying.

negative people only see problem…..

@Roland

Quayside is overrated, interior all same. Many units still looking for foreigners to buy or rent since OC two years ago.

Summit 191 at least can do short term rent.

@Feikoh

positive people always get cheated by developers….

@fuki
Negative people forever cant be success and only know to comment duno to action

@FRU

Oh yes, you are right. Penang Plaza has this automated parking system installed many donkey years ago. Looks very troublesome to park your car.

I am stating facts. If you go Quayside, majority foreigners there. I think this summit 191 is overrated. You don’t even have a 4.5 acres water park to start with.

Only idiots would pay rm1200 psft for that.

Short term stay? It is next to St Giles and opposite it hotel Jen, behind hotel Neo and hotel Cititel. Hotel Neo renting for rm150 only and it’s new and nice with breakfast. How much can you rent? Rm100? You pay rm1200 psft, you rent for 20 years also cannot get back your ROI. Not to mention it is a serviced apartment with commercial electricity and water rates. Monthly payment for utilities also can run up to rm500-1000 if your tenant on air con 24/7….

If really can do short term stay, the developer would build the hotel there and not sell it as a SOHO. Look at 118@island plaza, also cannot survive. Only idiots would end up paying so much for this project.

Developer smarter than you, faster sell to idiots instead of doing hotel.

@Roland

Hmm, I think you have a point. Thanks for the analysis.

@Roland
the project of 118 at island plaza not in the mid of town…. look at St. Giles and Jen hotel, it was always fully book. the important is the location.

@cat
Then developer should build as hotel. Why sell….Neo hotel rent for rm150 only. You pay rm1200 psft for a unit and you want to rent for how much? Fully booked? You go agoda now, plenty of rooms available. Developer smarter than buyer, if they think can rent out they won’t sell to you, they faster sell already and take your money and rent a room at hotel Neo instead….lol

If developer sell for rm800 psft then I say good buy but now it’s rm1200 psft. Must do your calculation. Even with guaranteed returns also not worth it. What developer do is take your money first then manage for you but the truth is they take your money and slowly give it back to you and at the same time make money from renting the room. In the end, loser would be buyer. Just like the project by Angsana teluk bahang, guaranteed 5% for 3 years but sell at rm1800 psft. With that price I also can guarantee lar…

Hi Roland,

Thanks for putting things in the right perspective and sharing with all. Appreciate your opinion.

Is the project already approved? When is the opening for register? I think thos project is for those oversea Mat Salleh.. Or too rich ppl =.=”

I saw piling started already. Mppp approved already. So fast.. Who is the buyer? Unbelievable..

Piling done.. Tower train up already..2year++ from now i think can completed.. I believe is singaporean..sapu all.. Even our georgetown pre war house more than 100 unit already in singaporean hand.. Soon.. All all penang ppl need close shop..& rent with singaporean..

Can anyone share how many unit each floor?

It is 6 units per floor and total is 96 units.

RM1200/sqf…fully furnite suite..it comes with 6% rental yield very interesting project.
Just the location by itself is worth the money.

Hi,

I am interest in the new project along Jalan Magazine .
Kindly email or call me .I am currently in PG.

6011 2008 4183

Thank you.

@INvestor
By rental yield is it constant? What if no one rents your unit?

Does it mean that a management company would manage the condo and rent out to customers and give rental fee to owner of each units?
What if your particular unit has no tenant/customer for months?Do you still get the 6%?

Are there any high units?

A second tower for this project has begun construction with no planning approval. Neighbouring houses have no idea what is happening. Penang is a lawless place indeed.

are you sure?

@ahbeng
So daring? sure or not?

My house 3 feet from site boundary. I write complaint to Chow, Jagdeep Singh, Mayor , everybody. No reply. MBPP Planning 16th floor Komtar tell me no plan submitted. No notice my house or neighbours. We all sick of this illegal nonsense.