Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, January 3, 2008

A sanctuary in Penang

PENANG: Prima Prai Group, a Penang-based property developer, has launched the latest phase of The Sanctuary, a luxury bungalow project on the eastern side of Penang, in Batu Uban.

The interior of one of The Sanctuary's show units

Phase 1B comprises 30 units of bungalows ranging from 4,200 sq ft to 6,200 sq ft in size, with prices for the units ranging from RM2.6 million to RM4.3 million. Construction is expected to start early next year.

Prima Prai Group recently entered into an agreement with Kuwait Finance House Bhd (KFH) for a RM74.7 million Mudharabah financing facility for the project.

Prima Prai’s managing director Datuk Mohd Ramzan Ibrahim said all units are designed by renowned Australian architect John Colliere to be spacious and bright, with a touch of modern architecture. The Sanctuary aims to be a tranquil and private retreat as its name suggests, he added.

The three design types in Phase 1B are Magnifique, Glamourette and Vogue. The Magnifique units feature a modern-classic design with a distinct pitched roof, while Glamourette offers a modern and tropical design with a variety of layout configurations.

The view from The Sanctuary

The Vogue units have a comtemporary design with stone-clad walls, distinctive curved roofs, tall ceilings and large, glass panels.

The Sanctuary is located within the Northern Corridor Economic Region, is minutes away from the Penang Bridge, Penang International Airport, Georgetown and is near ammenities such as international schools and shopping centres.

Mohd Ramzan said he is confident of a good take-up rate following the success of Phase 1. Comprising 21 bungalows and 11 semidees, Phase 1 is sold out, with as many as 40% of buyers coming from Taiwan, India and China.

Ramzan said other projects in the pipeline for the company include its flagship development, The Runnymede Centre, in Georgetown comprising super condos and a boutique hotel.

The 5.5-acre tract at the historic Runnymede site along Jalan Sultan Ahmad Shah (formerly Northam Road) is expected to be the most exclusive address in the state when launched in mid-2008.

Other projects to be launched next year include a serviced apartment project on 2.03ha in Penang and 103 units of 2 1/2-storey courtyard homes in Prai.

By theSun (by Tim Leonard)

No comments: