Despite the current economic turmoil that affects much of the Western world, prices of landed properties in Asia are skyrocketing, thanks to region’s booming economy fuelled by healthy domestic consumption. Many discerning Asian property buyers are now on the hunt for affordable yet quality properties, both in their home countries and elsewhere within the region.
Two Malaysian developers unveiled such projects at the ongoing Penang International Property (PIP) Expo 2012 being held at the Penang International Sports Arena (PISA).
The first, S P Setia Bhd Group, introduced its Penang development dubbed the Setia Tri-Angle. Nestled in the busy Sungai Ara area of Penang, this mixed-use development features 35 commercial units, 70 SOHO units and 235 apartment units – the latter’s prices start at an affordable $167,000.
Meanwhile, GSD Land (M) Sdn Bhd also unveiled its newly launched Penang project called Garden Ville also nestled in the Sungai Ara area. The development comprises 476 units in two towers sitting on an all-in-one integrated lifestyle development. According to GSD Land director Lee Ham Kong, the project is unique as it offers buyers exclusive yet affordable housing units. Amenities include a clubhouse, gym, children’s playground, sauna and other recreational facilities.
The annual PIP Expo has been the launching-pad for a wide range of residential and commercial properties in Penang and the region. Its organizer, PIP Creation Sdn Bhd, is most proud of the long list of expo regulars, who have been loyal exhibitors since 2006.
Aside from high-end residential properties, the expo will also have an online updating of public applications for low- and medium-cost housing by the State Housing Department. Several commercial and residential properties will also be put under bid on 17 March. – by Rodel Ambas