Ho (sixth from left), Sundarajoo (seventh from left) and other VIPs posing with the construction crew at the topping out ceremony for GEM Residences.
THE transit-oriented development of GEM Residences in Prai on the Penang mainland reached a milestone with the completion of its structural phase.
A joint undertaking between Belleview Group and LTC Group under Regata Maju Sdn Bhd, the 978-unit GEM Residences and 15-unit GEM Shoppes are part of a 8ha GEM masterplan project.
The main contractor is China Communications Construction Company (CCCC).
It is also behind the construction of the second Penang Bridge and the current land reclamation for Gurney Bay and Seri Tanjung Pinang 2.
Belleview Group managing director Datuk Sonny Ho said the milestone was all the more significant due to the challenges posed by Covid-19.
“I thank all involved for their unwavering commitment and the state government for their strong support.
“As we move into the final stage, let us continue to approach challenges with the same resilience that brought us to this pivotal moment,” he said at the topping out ceremony at the project site in Jalan Baru.
Penang housing and environment committee chairman Datuk Seri S. Sundarajoo launched the ceremony that was also attended by key stakeholders, project partners and business associates.
GEM Residences is targeted for completion by this year.
Sundarajoo commended Belleview on its top-notch developments.
“I was in the property industry for 37 years before becoming a politician and my housing portfolio is close to my heart.
“It is my intention to create a win-win situation for both developers and the state government,” he said.
GEM Residences with a gross development value of RM600mil features four residential blocks of 38 storeys each – Coral, Ruby, Sapphire and Diamond.
There are eight layout designs of one to four bedrooms, sized from 441sq ft to 1,445sq ft.
Prices start from RM400,000.
This project with full condo facilities caters to both locals and foreign residents, taking advantage of the RM400,000 minimum eligibility rule for foreigners under Penang Home Ownership Campaign (HOC) 3.0.
It is located along the six-lane Jalan Baru which connects to the North-South Expressway and Butterworth Outer Ring Road (BORR).
Also at the topping out ceremony were LTC Group general manager Lee Khian Lai, CCCC managing director Allan Ni Qing Jiu, Belleview Group director Grace Ho and Ambank Business Banking (Northern) regional director Teh Teong Guan.
