Penang developers plan RM4.7bil worth of affordable houses

Artist's impression of Ivory's mixed-development project in Tanjung Tokong.

GEORGE TOWN: The Penang property scene, which has seen prices soaring to new levels in the last two years, will see new affordable properties with a gross development value (GDV) of RM4.7bil entering the market in prime locations over the next three years.

Besides the pricing, which ranges between RM300,000 and RM650,000 depending on location, other attractions of these properties are their size, which ranges between 850 sq ft and 1,000 sq ft, and the facilities provided.