PENANG: CP Landmark Sdn Bhd will launch four residential and commercial schemes this year, for its RM1.5bil Queensbay mixed development project on a 73-acre site in Bayan Bay, the south-eastern enclave of the island.
Group chief operating officer C.C. Pan said the projects to be launched were Baygarden, Baysuites, Baystar and Bayvillas.
“The plan is to launch Baygarden next month, Baysuites in May and Baystar mid-2006, followed by Bayvillas in the third quarter,” he said.
Baygarden comprises 65 bungalows and semi-detached houses, Baysuites two blocks of 10-storey corporate suites, Baystar 160 units of low-density lifestyle condominiums, and Bayvillas 86 three-storey sea-fronting villas.
Properties in Baygarden are priced from RM850,000 to RM1.2mil. A 1,000-sq ft unit in Baystar costs RM450,000 while prices for the Bayvillas which have built-up areas of over 4,000 sq ft, start from RM2mil.
The company has not firmed up prices for Baysuites yet. The projects would be completed three years after their launch.
“Scheduled for opening in December is the Queensbay Mall, the largest and longest shopping mall on the island. The mall has a built-up area of 2.5 million sq ft and more than 1 million sq ft net lettable area.
“Jusco will be coming in as the anchor tenant. There will also be 17 junior anchors and more than 500 retail merchants, both local and international,” he said.
Pan said the phase two of the Queensbay project would kick off in 2007.
“Phase two will see the development of a four-star hotel, a 12-storey serviced apartment block, and seven corporate towers,” he added.
CP Landmark came in to revive Bayan Bay Development Sdn Bhd's Bayan Bay project last year following several failed attempts by other parties. The company subsequently renamed the project Queensbay.
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