PENANG WorldCity is poised to transform the skyline of the island’s southeastern coast in the next 10 years.
Sprawled over a massive plot of 41.4ha (103 acres), the RM10bil mixed integrated waterfront development in Bayan Mutiara will be a modern sea-fronting, mini international city where residents can enjoy refined lifestyles.
The joint venture project is undertaken by established Penang developer Ivory Properties Group Bhd and Tropicana Corporation Bhd which is noted for its successful resort developments in Kuala Lumpur and waterfront projects in Johor.
Penang WorldCity will sit on 27.5ha (68 acres) of existing land and 14.1ha (35 acres) of reclaimed land.
To be developed in phases over the next decade, it comprises approximately 9,000 exclusive lifestyle residences, the majority sized below 1,500sq ft to cater to a broader spectrum of home owners from various income levels.
Water theme parks and pockets of lush greenery create a soothing living environment for residents.
Meanwhile, various leisure and recreational amenities like the performing arts centre and wellness centre are set to enrich lives.
There will also be ‘green belts’ surrounding the high-rise residences, separating them from the main streets, whilst also creating greenscape buffers for pedestrians, cyclists and strollers.
In addition to the residences, Penang WorldCity will also have approximately 1.5 million sq ft of high-end retail outlets, an international hotel, grade A offices, convention centre, international school and al fresco dining outlets.
All this will make Penang WorldCity a tourism and commerce hub.
Neatly tucked between the Penang Bridge and the second bridge, the project is a mere 10 minutes’ drive to the Penang International Airport.
Various shopping, financial, education, and healthcare amenities in George Town are just 20 minutes’ drive away via the Tun Dr Lim Chong Eu Expressway, while the ferry services provide an alternative way of connection to the mainland.
Even closer are the Bayan Lepas Free Trade Zone, Queensbay Mall and Pantai Hospital, as well as banks, schools and F&B hubs.
All these ensure fast appreciation of properties in Penang WorldCity, making it a prime investment option.
The first phase of Penang WorldCity will be the Tropicana Bay Residences, comprising five 22-storey blocks and one 21-storey condo tower housing units sized from 400sq ft to 1,945sq ft.
The project will be featured during The Star Property Fair 2015 from March 12 to 15 at Sunway Carnival Mall and Sunway Carnival Convention Centre in Seberang Jaya.
The Tropicana Bay Residences are available in eight distinctive layouts.
Visitors to the fair can check out Block F of the Tropicana Bay Residences.
It comprises 65 studio units of 400sq ft, 1+1 bedroom units of 550sq ft (136 units) and 800sq ft 2+1 bedroom units (68 units).
The residences have had a highly positive response since their soft launch and to date, 90% of units in the first five blocks have already been taken up.
Block F is now open for registration.
Current average selling prices vary from RM453,900 to RM1,638,900, with an average rate of RM736 psf.
For more information on Penang WorldCity, call 04-6596888, visit the Sales Gallery at Persiaran Bayan Indah in Bayan Lepas, Penang (nearby Queensbay Mall), or log on to www.penangworldcity.com.
Otherwise, visit Tropicana Ivory’s booth during the fair.
There will be an 8% discount on listed prices as well as 5% rebate on the first 10% down payment for selected projects.
The Star Property Fair 2015 will see over 20 exhibitors showcasing their projects. It will be open from 10am to 10pm.
There will also be a Spin & Win Contest during the four days of the fair with more than RM50,000 worth of prizes up for grabs.