Real estate property market news:
As the nation progresses, the nature of property developments seem to be heading upwards.
Malaysia’s residential market is among the most attractive in Asia because of its regulatory regime, affordability and its relative safety from major natural disasters. Furthermore, as a major international tourism destination, it attracts tourists from all over the world, resulting in economic and tourism growth in various parts of the country.
Malaysia’s economic development is resulting in expatriates coming to Malaysia to work and make it their second home. Some cities have thrived and this is resulting in several upmarket property developments in Malaysia.
This article attempts to feature some of those developments and the characteristics that make them attractive.
The Silicon Valley of Malaysia
Silicon Valley is not just a place where big names in the technology industry are established. It is a place where dreams and ideals of innovators could be unleashed and the potential of those ideals can be realised.
The vision of Cyberjaya to become the ‘Silicon Valley’ of Malaysia, which is to be a self-contained city with world-class IT infrastructure, low-density urban enterprise, and state-of-the-art commercial, residential and institutional developments is fast becoming a reality.
According to Cyberview Sdn Bhd, more than 700 companies, with 35 multi-national companies such as Ericsson, Shell, BMW, IBM, HP, AMD, Dell, NTT MCS, WHO, Fujitsu and HSBC had their global, business & IT centres located in Cyberjaya in 2013. Cyberjaya also has more than 300 SME companies, 35,000 knowledge workers, and 20,000 students.
As there was market demand for townships that would house young families with one or both young professionals based in Cyberjaya, developers such as Mah Sing developed Garden Residence, which is a self-sustained freehold community within
a garden resort environment to cater to
The Garden Residence has amenities and facilities, as well as provisions for parks and commercial zones, that would potentially cater for the lifestyle needs of residents.
The Aspen 3 1/2 storey bungalows is Mah Sing’s most luxurious development in the mini-township. The development comes with lush tropical landscaped gardens, cascading water features, jogging tracks and running trails, and a resort club house, catering to those who seek a luxurious lifestyle with the conveniences of life within reach for the family.
Pearl of the Orient Penang has seen unprecedented growth since 2008 when George Town, its historical capital, was inscribed as an UNESCO World Heritage Site. With increasing numbers of tourists, the completion of the Penang Second Bridge and a strong electronics industry, Penang’s economy has improved and this is leading to more upmarket developments on both the island and mainland.
On the north-eastern part of Malaysia’s Penang Island lies the exclusive seafront development of Seri Tanjung Pinang, which extends from a stretch of prime seafront real estate towards a spectacular series of islands.
Developed in two phases, the 240-acre first phase of Seri Tanjung Pinang has evolved into a vibrant international community of more than 20 nationalities living side-by-side with local residents, which include families and young couples.
Straits Quay, Penang’s first seafront retail marina, is built around an intimate marina filled with yachts and sailboats, and lies at the heart of this world-class waterfront community.
This development is a showcase of luxury residential enclaves, ranging from courtyard terrace houses and grand villas, to luxury condominiums and contemporary suites.
The Light of the Pearl
On the eastern part of the island, Georgetown has been a gateway for thousands of 18th/19th century Chinese immigrants who arrived in search of fortune and a better life.
Once a springboard for colonial ambitions and a bustling venue for spice trading and opium exchange, it is the site of the RM6.5billion ‘The Light Waterfront’ development, which will be developed in three phases by IJM Land Bhd.
Spanning a 152-acre site of prime land beside the Penang Bridge, it will become a global village that integrates waterfront living with residential, commercial, hospitality and entertainment components into one dynamic hub.
The first phase will consist of high-end waterfront housing, which is made up of exclusive waterside homes with private jetties, seafront bungalows, duplex townhouses, water villas and quayside apartments.
Designed as Penang’s first integrated leisure/retail/entertainment and cultural hub with an upmarket and luxurious waterfront living enclave, the second phase will have waterfront dining promenades, lifestyle malls, hotels ranging from family to resort, boutique/spa, business high-rise buildings, business park, a floating cultural theatre and a convention centre.
The final phase is the sea front park that is specially created for residents to live the idyllic tropical island life. This beautiful garden-by-the-sea, when fully flourished, will add extraordinary island paradise views with tropical charm for the enjoyment of residents and visitors of The Light.
Chan Ai Cheng
General Manager, S. K. Brothers Realty (M) Sdn Bhd
Registered Estate Agent with the Board of Valuers, Appraisers and Estate Agents Malaysia
Certified Residential Specialist, NAR USA
Certified International Property Specialist, NAR USA
Registered Financial Consultant, IARFC
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