Build-then-sell benefit for buyers
EMERALD Residence is a new lowdensity condominium development coming up in Teluk Kumbar in the southern part of Penang island.
It comprises three blocks featuring a total 441 units with a Gross Development Value (GDV) of RM226mil.
The project by TPPT Sdn Bhd is now 70% completed.
Interested purchasers get to preview the development at the StarProperty.my Fair at Queensbay Mall and enjoy a string of benefits including a 9% rebate on the selling price.
Property Talk Sdn Bhd director Steven Cheah, the sole real estate agent for the project, said the developer only launched two blocks to date with the last block to be launched upon completion of the project.
“This is because Emerald Residence is a build-then-sell undertaking, whereby purchasers need only pay a 1% downpayment with the balance 90% payable upon completion of the development in Q2 next year.
“Only reputable and financially-strong developers are able to undertake this concept which accords buyers substantial savings on their instalment interests since they are only billed upon completion," he said.
He said the selling price starts from RM476,792 or RM428 psf. However after deducting the early bird incentives and savings on the progressive interest, the actual nett selling price is only RM400 psf.
“Other benefits consist of free maintenance for two years or a RM10,000 voucher, free stamp duty on the transfer of titles and free legal fees for both the Sales & Purchase and loan agreements,” he added.
Designed with spacious internal layouts of 1,114 sq ft to 1,183 sq ft, the freehold project will be equipped with comprehensive condominium facilities as well as separate lift access for the individual blocks.
There are only six units per floor and every unit comes with two free side-by-side car park lots for practicality and convenience.
Level 4 is the facilities floor featuring an infinity pool, gym and recreation area, amongst others.
The development will also be installed with fibre optic cables for faster connectivity which is deemed essential in today's modern buildings.
Emerald Residence is the second condominium project in the Teluk Kumbar Heights township, which is a 70-acre mixed undertaking comprising terrace houses, bungalows, condominiums, shop offices, a school, medium and low-cost apartments.
Demand for properties here is growing following the completion of upgrading works on the federal road connecting Teluk Kumbar to Bayan Lepas.
The RM207.7mil project included the upgrading of two overhead bridges, a four-lane 750m elevated structure from Jalan Teluk Kumbar to the Penang International Airport and also an elevated U-turn.
Travelling time from Teluk Kumbar to the Bayan Lepas Industrial Estate and the second Penang bridge has been shortened via the new flyover and expanded road.
The southwest district is considered the new property hotspot in Penang with the opening of the second bridge and the improvement in road infrastructures.
For more information on Emerald Residence, drop by Booth C7 at the fair or log on to www. emeraldresidence.com.my or contact 04-6491221, 012-9367389 or 012-5504001.
The show house at the project site is open for viewing by appointment.