RISING where the shore meets the sea, The Light City in The Light Waterfront Penang’s Phase 2 commercial precinct will be an enclave of modern vibrancy.
Occupying a 32.76-acre parcel, it combines retail, convention, hospitality, business and residential components with a total gross floor area (GFA) of about 4.1 million sq ft.
Undertaken by IJM Perennial Development Sdn Bhd in a joint venture between IJM Corporation Bhd and Perennial Real Estate Holdings Ltd, it has an expected gross development value (GDV) of over RM4.5bil.
The recently unveiled integrated waterfront precinct is designed as a smart city with fibre optics and WiFi infrastructure, and features a five-storey retail mall with 1.5 million sq ft of GFA designed around the concept of ‘Where History Meets the Modernity of Penang Retail’.
Sitting atop the mall is the 270,000sq ft Penang Waterfront Convention Centre that when complete, will be the state’s largest event space.
This will be connected to two luxury hotels with 745 rooms in a 37-storey tower.
Also planned is a 28-storey office block with 370,000sq ft of net leasable area, and two residential projects named The Mezzo and The Essence, each having two towers with the former at 34-storeys with 456 units, and the latter at 37-storeys with 315 units.
Get a glimpse of them at the StarProperty.my Fair 2017 in Gurney Plaza from Thursday to Sunday. Also set to be featured is property division IJM Land’s new RM240mil project, the Waterside Residence.
Occupying a 4.27-acre freehold plot within Phase 2 of The Light Waterfront, it has 256 modern and stylish condos with built-ups ranging from 1,055sq ft to 1,270sq ft.
These are spread over a trio of 17, 25 and 33-storey towers. Launched in January, over 70% of units have already been taken up. Available ones are priced from RM749,000 onwards.
Units come with two or three parking bays each. Lifestyle amenities include a swimming pool, Jacuzzi, gymnasium and reading room.
The company will also open for registration its upcoming 3 Residence mixed development in Karpal Singh Drive, to be launched in the 4th quarter of this year.
It has condominiums sized from 872sq ft to 1,077sq ft with sea-facing views, shop/office units of 1,155sq ft onwards, and a hotel with a proposed net floor area of around 235,000sq ft.
It will be the last project at this in-demand location, where previous IJM Land developments have enjoyed high appreciation value and rental returns.
Home-hunters after properties embraced by greenery can also go for other projects like The Address and Trehaus on Penang island, and Permatang Sanctuary on the mainland.
The Address, located near the Bukit Jambul Golf Club, is completed with CCC obtained. Limited units of 2,476sq ft duplex lofts with private Jacuzzi and direct pool access are available from RM1.7mil onwards.
Trehaus along the Bukit Jambul millionaires row, is inspired by the concept of countryside living and has only 46 units of condo villas and 26 units of two and three-storey semi-detached villas.
The condo units, sized at 1,657sq ft with 3+1 rooms, are set for launch soon with estimated prices of RM1.4mil.
The semi-Ds range from 2,997sq ft to 3,291sq ft and have 4+1 rooms, priced at RM2.2mil onwards. Construction is set for completion this September.
Show units for Trehaus semi-D and The Address duplex lofts are available for viewing by appointment.
At the 100-acre Permatang Sanctuary in Bukit Mertajam’s Permatang Tinggi district, the Phase 2 Sanctuary Villas are already completed with CCC obtained. Limited units of the two-storey bungalows, sized from 2,787sq ft and 2,861sq ft, are available for about RM895,000.
The Phase 3 Sanctuary Residence has 218 units of two-storey semi-Ds, link semi-Ds and bungalows with built-up areas ranging from 1,773sq ft to 2,151sq ft. Only limited Bumi-release units, with prices of RM695,000 onwards remain available.
There is also a completed commercial lot at road level below the Vertiq Condominium in Gelugor, near e-Gate, Tesco and Udini Square, sized at 12,335sq ft and catered to by 25 car park bays right next to the lot.
For details and special promotions, visit IJM Land at booth M4 during the four-day fair from 10am to 10pm. Admission is free.