First Phase of IKEA integrated shopping centre to open by end of 2019

July 23rd, 2019 No comments

Aspen Vision City - IKEA Integrated Retail Component

We are pleased to announce that IKEA Southeast Asia is now readying to open the first phase of a shopping centre that will be linked directly to our blue-box home furnishing store in Northern Malaysia, bringing a vibrant new mix of retailers to Aspen Vision City.

With around 20 units, this new retail destination aims to become the vibrant hub of the growing Batu Kawan township. The retail extension will open at the end of 2019 and today, 85% of the space is already leased to tenants who will enhance the shopping experience of the IKEA store. Tenants include Sports Direct, Project Rock, 7-Eleven and Harvey Norman. Taking up 50,000 square feet, Harvey Norman is bringing its concept of a flagship superstore outside the Klang Valley for the first time.

“We are grateful for the relationships we have built with long-term partners like Harvey Norman. Together, we can live up to our mission of creating vibrant meeting places for the many people – going beyond just shopping,” said Christian Rojkjaer, Managing Director of IKEA Southeast Asia.

In the region, five of our IKEA stores are anchors for shopping centres – a retail recipe that has been proven to attract millions of visitors, including some who drive hours for a great day out with family and friends. In Penang, the first phase of our integrated shopping centre will offer a unique tenant mix to deliver something for everyone and provide a great base for many more partners to join in the coming years as we grow.

“We look for tenants that meet needs of the people in our community,” explained Christian Olofsson, our Shopping Centre and Mixed-Use Director of IKEA Southeast Asia. “In the four months since we opened IKEA Batu Kawan, we have seen that Penangites often visit on lunch breaks and during dinner time. So, we will focus on bringing in F&B outlets and convenient grab-and-go services. We also see the opportunity for other leisure, entertainment and sporting retailers to serve the growing township of Batu Kawan,”

The integrated retail component to IKEA Batu Kawan is part of the master plan for Aspen Vision City, a joint-venture of IKEA Southeast Asia and Aspen Group. Our ambition is to develop a model state for smart living.

“IKEA is a major catalyst, attracting other businesses that want to be part of a modern and intelligent township of the future,” said Dato’ Murly Manokharan, President & Group CEO of Aspen Group.

“We want to create a convenient destination that is at the heart of a walkable community where people can work, shop, dine, study, and create positive memories together with their loved ones. Vervea, the commercial precinct with 3 and 4 storey shop offices in Aspen Vision City is now ready for business. We welcome the local retailers and corporate entities to join us. In the heart of Vervea also houses a 38,000 square feet trade centre called Vervea Trade & Exhibition Centre (VTEC) that comprises versatile event halls, function rooms, food preparation and service areas that can cater for large scale trade fairs and events. VTEC will be ready for occupancy by Q4 this year. Together, we can create a thriving community in the North.”

Categories: Property News Tags:

Tender for detailed design on Gurney Wharf to open in Q4

July 22nd, 2019 No comments


The state government will call for tender for a detailed design on Gurney Wharf, touted as the state’s seafront park-in-the-city, by end of the year.

State Local Government Com­mittee chairman Jagdeep Singh Deo said they would tap into the expertise of both local and international consultants for the design and construction of the “world-class park”.

Upon completion in 2021, the park is expected to feature a foodcourt, F&B outlets, promenade, wetlands, beach, steps and handicap ramp, children’s play equipment, skate park and water taxi pier.

“The development of the wharf will be guided by an Operational Requirement Statement to ensure the state government realises its vision of creating an iconic public realm.

“The park development is estimated to cost around RM180mil. It will be a Penang icon, as we want to bring it further into the international limelight.

“But most importantly, we need to serve the people of Penang by creating public amenities for them. The project is expected to be completed in 2021,” he told reporters during a site inspection yesterday.

Gurney Wharf Concept

In 2016, it was reported then that the coast along Gurney Drive would get a makeover from a massive recreational waterfront project.

Its conceptual masterplan is by Grant Associates, an internationally-renowned consultant architect involved in various international projects, including the Hive, Bristol Harbour Site and the Cambridge Accordia and also the Singapore Garden’s by the Bay.

Jagdeep said a total of 16.19ha of the 53.01ha reclaimed land at the Gurney Drive foreshore would be handed over to the state government by the end of the year.

He said reclamation work, which began in 2016, was scheduled for completion in September.

It was now 94% completed, including coastal protection and soil treatment, he added.

Source: TheStar.com.my


Categories: Property News Tags:

Strengthen MM2H programme to ease property glut

July 20th, 2019 3 comments


The Malaysian Institute of Professional Estate Agents and Consultants (MIPEAC) is of the view that encouraging more foreigners to take up the MM2H (Malaysia My Second Home) programme and to invest in Malaysian properties could help ease the glut in the property sector.

In a statement today, MIPEAC said it would be a waste not to strengthen the promotion of MM2H and encourage more foreign investments in the country’s property sector.

“With RM20 billion worth of residential overhang, we should be more open to foreign buyers with higher spending power to enter the market,” it said.

International Real Estate Federation (FIABCI) Malaysian chapter president Michael Geh reportedly said in a news portal recently that Malaysia must encourage more foreign buyers of local real estate to resolve the issue of unsold units in the country.

“In general, efforts to drive in foreign investments in other segments like commercial and industrial properties should be taken more seriously as well. MIPEAC believes that more can be done to encourage foreign buyers and investors to enter Malaysia’s property market.

“High-end developments can be marketed more intensively globally, together with the ongoing efforts done in the tourism sector,” it added.

Although stricter background checks for MM2H applications have been implemented recently, MIPEAC applauds the Tourism, Arts and Culture Ministry’s efforts to speed up the approval process of the backlogged applications by setting up a special task force.

Concurrently, it said growth in the ICT sector in Malaysia will also pull in more professional foreign workers which will in turn encourage more property purchases by expatriates.

Source: TheSunDaily.my


Categories: Property News Tags:

Mont Residence – Limited units available with attractive ownership package!

July 19th, 2019 Comments off

Mont Residence, a 38-storey lifestyle condominium located on 5.15 acres freehold land in Tanjung Tokong. Featuring 473 condominium units with four well-designed and practical layouts. The project is now completed with limited units left. Call VST Group at 016-459 8080 or 017-332 8382 now to find out more about the attractive ownership package!



  • Strategic location, just a stone’s throw away from to market, shopping malls, hospitals, schools, shops & restaurants.
  • Multi-tiered security, access control, central CCTV and guard patrols.
  • Healthy lifestyle & facilities, 3 types of swimming pools and fully equipped gym, games room, stydy rooms & more.
  • Sky Garden – Panoramic views of the rolling green hillside & Straits Quay.
  • Wine & Dine – Stylish dining facility.


Covered car park, Barbecue Area, Playground, Game room, Karaoke, Library, Gymnasium room, Fitness Stations, Basketball court, Jacuzzi, Swimming pool, Wading pool, Mini golf range, Sky Lounge and many more!

Developer’s Website: http://www.vstgroup.com.my

Register your interest here or call 016-459 8080 / 017-332 8382 for more details

Categories: Property News Tags:

Ferringhi Residence 2 named the Five Star Best Residential Development

July 19th, 2019 1 comment


Mah Sing Group Berhad’s Ferringhi Residence 2 project in Penang has received recognition for its excellence.

It was named the Five Star Best Residential Development for Malaysia at the Asia Pacific Property Awards 2019-2020.

This impressive achievement is a testimony to Mah Sing’s continuous commitment in delivering a well-planned sustainable residential development with top quality and enhanced features.

“We are honoured that Ferringhi Residence 2 has been recognised,” said Mah Sing founder and group managing director Tan Sri Leong Hoy Kum.

“We have been in the property industry for around 25 years.

“Our promise to reinvent quality space and enhance the lives of our homebuyers is always our main priority when planning a project.”

Mah Sing also revealed its new Ferringhi Residence 2 show unit at Southbay Sales Gallery in Batu Maung recently after relocating from the old sales gallery in Menara Boustead, George Town.

The relocation was done to meet the continuous interest from potential home buyers.

The new 1,494sq ft Ferringhi Residence 2 show unit features the Type A layout which embodies the leisure urban resort style.

Interested homebuyers can now visit the new Ferringhi Residence 2 show unit at Southbay Sales Gallery every day from 9am to 6pm.

In addition, Ferringhi Residence 2 has just celebrated its topping up ceremony for Phase 1, symbolising the completion of the structure of the Tower B building.

Tower B is expected to be fully completed in July 2020 while the entire project, with its two phases, is scheduled for completion by December 2020.

The project is expected to have a total gross development value of RM614mil.

The 3.8ha Ferringhi Residence 2 development is in Penang’s famous holiday spot of Batu Ferringhi.

It is a freehold residential condominium located behind the Penang Hill forest range and the Teluk Bahang Forest Reserve Park.

The project is accessible through Jalan Sungai 1 which branches off from Jalan Batu Ferringhi in front of Holiday Inn Resort Hotel.

Ferringhi Residence 2 is a resort-style condominium designed predominantly in a north-south direction.

The development comprises three towers (32-storey high-rise residences, 10-storey mid-rise residences and 4-storey low-rise residences).

Source: TheStar.com.my


Categories: Property News Tags: