GEORGE TOWN: Some 40,000 people turned up at the Star Property Fair 2015 to check out the best bargains offered.
As a result, the Kuala Lumpur and Penang-based developers closed RM153.7mil worth of sales during a four-day property fair which ended yesterday at the Queensbay Mall.
Based on buyers’ feedback, they still have confidence in the local property market and the state government’s commitment to implement the Penang Transport Master Plan is one of the reasons for the optimism.
Developers represented by Zeon Properties Sdn Bhd sold about RM80mil worth of property from the developers it was representing.
Zeon exhibited the Ewein Zenith’s City of Dreams in Gurney Drive, Aroma Development Sdn Bhd’s Starhill in Sungai Ara, Bionic Land Bhd’s Prominence in Butterworth, Trimension Properties’ GMansion in Bukit Gambier and KB Group’s Sang Sarang in Lumut.
Zeon Properties chief executive officer Leon Lee said the sales generated at the fair this time showed that there was still confidence in the local property market, which would be boosted once the Penang Transport Master Plan, which promises a LRT system and trams, was realised.
“When prices of goods are going up, property is still the best hedge against inflation. Property that are most in demand are those priced below RM1mil,” he said.
Mah Sing Group Bhd chief executive officer Ng Chai Yong said the group managed to obtain 1,000 registrations for its property such as the Lakeville Residence, Southville City@KL South, and MCity, all in Kuala Lumpur, and The Loft@Southbay, Ferringhi Residence, Southbay City and Legenda@Southbay in Penang.
Eco World Development Group Bhd general manager Khoo Teck Chong said the group achieved its sales target for both its Eco Meadows and Eco Terraces projects located in Bukit Tambun and Paya Terubong.
The Eco Meadows, comprising double-storey terrace homes, is a gated and guarded project, with clubhouse facilities, and located close to the first and second bridge.
“Bukit Tambun is very close to Batu Kawan, where notable projects such as the Eco World Premium Golf Resort, Columbia Hospital, Hull University and The SME Village are being carried out,” he said.
Khoo added that Eco Terraces in Paya Terubong would have at least 70% of the 5.2ha site for green space, which is an unusual size for a project in the suburb of the island.