Hua Yang Officially Launched Meritus Residensi
Hua Yang Berhad has charted a successful expansion into the Penang property market via the positive reception of its first development in the State. Meritus Residensi, which was introduced in November 2016, recorded a good take up rate of 34%.
The project, which was officially launched on 31st January 2017 in conjunction with the Group’s Chinese New Year celebration, comprises 480 units of serviced apartments and 15 retail shops with an estimated Gross Development Value (GDV) of RM220 million. This 4.32-acre development makes up the first phase of a 6.98-acre freehold mixed development located along the vibrant Jalan Baru. The estimated GDV of the overall development is RM324 million.
Speaking at the official launch of the project, Assistant General Manager of Hua Yang, Tony Ng said that the Group will continue its efforts in offering affordable housing in the Penang market. “There is a rise in demand for affordable homes in Malaysia and this is especially evident in key urban centres such as Penang. The State is developing rapidly and land is becoming more and more scare, opening doors to high-rise developments such as Meritus Residensi.”
“We are heartened that our inaugural project here has been well-received, and this encourages us to further commit resources in developing affordable projects in Penang. One way to do this is to ensure we continuously engage with Penangites, and this is only possible if we are present here on a permanent basis.”
Meritus Residensi comes in a variety of sizes, from 945 sq.ft. (square feet) onwards, and are priced from RM364,500. The project is expected to be completed by 2020. The Group now has a total undeveloped land bank of 335 acres in the Northern region with a potential GDV of RM1.9 billion.
Established in 1978, the Group today is recognised as one of the nation’s leading property developers in the affordable housing segment, with a strong footprint in Klang Valley, Perak and Johor. The Group’s foray into the Northern region is an extension of Hua Yang’s vision to help make dreams of affordable home ownership a reality.
So RM364,500 is affordable, with my meagre salary of RM3k per month the instalment already cost me RM1,800 per month and i left with RM1,200 every month. How the F is that affordable? Is it affordable to rich people? Knn
Can I know details for this project?
With RM1,200, you can do a lot of things.
RM200 – 2nd hand car
RM100 – medical insurance
RM300 – petrol
RM300 – meals (cook yourself, bring lunchbox to office and etc)
RM300 – personal spending
alternatively, if you dont agree with my calculation,
can try to find a RM200,000 house in Mainland, there are alot.
Hence with RM1000 of monthly installment, you have extra RM2000.
Don’t brag too much, there are a lot of choices outside. just ppl these days demand too much.
Great location, cheap, big size and etc. did u ask yourself – do u have enough money to buy house with these?
@Shukyee
Hi Shukyee, i’m marketing agent for Meritus Residensi. You can contact this number 017-457 5880 (WhatsApp / WeChat Preffered) Thanks!
@Moslem4U
Hahaha….this is indeed in Mainland. Please go thru the location first before comment others.
lol please find in mainland, there are so many far more affordable houses.
Don’t brag, use the time to earn money better
In fact ones can get a secondary property for less compared to a new launch property.
Depending on your budget and location, RM300k can get you a landed single storey terrace, with some minor renovation required or RM200k for a apartment. If you don’t have a deep pocket, this would be probably the choice for your first home.
How much the price per square feet ?
@Lee Jordan
the distribution of household income in Penang is above RM5k per month. its more appropriate to count it based on the large population, rather than individual itself, i suppose
source : http://www.jpph.gov.my/V2/download_akhbar.php?versi=2&no=266