Penang World City


Penang World City is located at Bayan Mutiara, Bayan Lepas, Penang, a mixed development property project consists of both residential and commercial properties.

Penang World City to be developed by Tropicana Ivory Sdn Bhd (a joint venture company between Ivory Properties Group and Dijaya Corp). The project covers a total land size of 102.56 acres, of which 67.56 acres is the existing land while the balance of 35 acres of land would need to be reclaimed over the next three years.

There are six phases in total, the first phase of Penang World City is expected to launch in the third quarter of 2012. Eighty percent of the Penang World City development will be residential units which will comprise mainly condominiums and the others will include serviced residences, waterfront villas, commercial and retail spaces, shopping mall, hotel, office suites, office towers, waterfront entertainment city, medical facilities and so on.

Property Project : Penang World City
Location : Bayan Lepas, Penang
Property Type : Mixed Development
Developer : Tropicana Ivory Sdn Bdh (a joint venture between Dijaya Corp Berhad & Ivory Properties Group Berhad)

49 comments

April 22, 2012 at 11:55 AMinvenprop

Anyone has contact of the developer to share? Thanks in advance.

 
April 23, 2012 at 11:46 AMtwyeow88

checked ivory website, contact is there. but the staff doesn't know much, especially the affordable ones. i believe you need to call the insider.

 
August 9, 2012 at 12:29 PMMadison

Heard they will launch sometime end of this year.

 
December 15, 2012 at 4:57 PMBenson

Any update about this project? Any one know wat will be launch?

 
February 1, 2013 at 1:51 PMAlvin

Launch today at Ivory Birch House. No brochure or catalogue available. Short of sales staff to attend to buyers and invited guest are ask to come back later!. Wonder why they even lauch it if they are not prepared. Waste of my time going there today.

 
February 1, 2013 at 2:38 PMPetals Dennise

I received invitation for private launch on 1 & 2 Fe, 2013..after reading Alvin's comments, I guess i will give it a pass to go although I'm really interested in the project.

 
February 1, 2013 at 4:05 PMpiko

mind share what are they launching? any details to share? :)

 
February 1, 2013 at 7:20 PMmax

Will this cooling measure in Singapore affect the property market in KL & PG?

Permenant Residents in Singapore are required to dispose/sell their HDB flat within 6 months when they purchase a private property regardless in Singapore or overseas.

 
February 2, 2013 at 4:44 PMPam

Wat do u guys think about the location?

 
February 2, 2013 at 7:28 PMUnknown

600+/ sqft. 5k booking as stockholder sum. all small unit below 1000sqft taken up.

 
February 2, 2013 at 10:16 PMKindy

Angry

 
February 2, 2013 at 10:18 PMKindy

They only launch the bigger units. I heard from some ppl that they are going to launch the smaller unit like Units C n D on this coming Chinese New Year with the higher price.omg.

 
February 2, 2013 at 11:44 PMPam

mayb we should invest in johor instead?

 
February 3, 2013 at 12:02 AMKindy

Invest in Penang better.

 
February 3, 2013 at 12:03 AMKindy

If they start to lunch the smaller units, please inform me. Plsssssssssssssssss

 
February 6, 2013 at 1:30 PMZoe

it is already launch~ and i heard all fully book~ left only big units.....

 
February 7, 2013 at 12:02 AMfl09_Ever

Went to see today, 800 per sq ft with nothing only one air one and normal finishing. I don't think is worth it, but I saw many people just come in and buy without asking anything. S&P cannot be stamp within one year because the plan not approved for construction yet. Money they collect only can park under the stick holder. Good luck to all the buyers who think the price will appreciate.

 
February 7, 2013 at 10:11 AMtwyeow88

I agree with Pam to some extent. Johor seems to be more promising in times to come than Penang. 7 years ago i don't believe but now i see things started to happen. medical school, uni, international schools, healthcare, theme parks, RAPID project. more important, its proximity to s'pore where many who earns SGD live including expat. foreigners like it. probably going to be Shenzhen for S'pore in future.

 
February 20, 2013 at 8:17 AMAl

Beware of Ivory! Go read some threads on their projects. Look at 10 Island Resort. When they do sales everything is so Rosy, once they have your money ......



 
February 20, 2013 at 12:15 PMniamahdiu

i went to the sales gallery near Qbay and guess what.. the service is like shit!!.. really shit... and damm shit... i do not know how to describe all this shit salesperson beside than shit ppl, shit service and shit everything.

 
February 22, 2013 at 12:45 PMDahlialover

The other day went to the launching at the new sales gallery..the price is about RM850/psf, Block A & B sold out and left block C & D. But the minimum selling price for the 616sqft studio apartment is at RM519,000 and for every floor increase RM3,000. Furthermore, S&P will not be stamped until the developer deemed that they are financially stable to commence the project, only they will stamp it. So, after further thinking, I will rather wait for other promising projects than to put my $$ in something which isn't concrete!! GOOD LUCK TO ALL THAT THINK THIS PROJECT IS WORTH IT. If it does appreciate in price, well, congrats!

 
March 4, 2013 at 3:12 PMsub-sales owner

Hi All, watch out on this development as you all sure familiar with Ivory development.

 
March 9, 2013 at 9:10 PMMadison

I did received the invitation too but was in KL.It's hard to predict though I like the location.I guess minimum a 5 years wait before your condo be ready.If you have the extra cash,why not.Ivory got so many projects coming up unless you can wait.Price is expensive as you all know the market situation now is very hot indeed.

 
March 11, 2013 at 1:35 PMJT

Location is tip-top and it is an integrated development, pretty much that's all i can say about the pros about this project. Cons wise they are just plenty:

1) Un-clear master-plan. You don't even know whats coming up in the future, which means chances that one additional block suddenly pop-up directly infront of your block and pray hard it wont happen. Worst this phase 1A plan is not even approved by PBT (Pihak Berkuasa tempatan) yet. Tropicana Ivory simply use the first booking fees of 10% from the purchaser to fund their cash-flow.

2) There is no single "luxury" features which can be associated with this suppose to be "luxury" project, at least it does carry a luxury price tag. High dense, normal design, not green certified as initially proclaimed, facilities are standard, no semi-furnished package, no guaranteed seaview, and worst <=1000sf units only come with 1 car park, this is just another N-Park / Sunny Ville emulation. They should go and learn from IJM land on how to define luxury in The Light Waterfront ( i am aware that there are some complaints toward the platino though)

3) Short to mid-term will need to cope with the reclaim activities at the coastline - dust and noise effect. Once reclaim is done I am sure they will built more even higher dense condo to make profit.

 
March 11, 2013 at 9:14 PMsteve

Agreed and I have the same thought as you JT.PWC Price is more or less at the level of the light but PWC do not have a great master plan like THe Light. Rather waiting for such long time I rather invest in the light which is about to complete. Just my personal opinion. No offence.

 
March 24, 2013 at 4:35 PMPenangboy

Just visited ivory office at Bayan Mutiara last Thursday before going back to KL. They have already put up the 1st phase model display. Very nice design. You can view the overall integrated project which is much bigger than IJM. When both IJM & World City projects completed, Penang waterfront will be glittering with lights when you drive from Penang bridge! Penang will be a very beautiful and practical city on the bright side.

 
March 24, 2013 at 5:06 PMPenangboy

By the way, there are still few smaller units of 615 sq ft available I saw on the display sale board at the office.

 
June 30, 2013 at 3:47 AMtsl

is there private lifts for the best condo units? what is largest size?

 
July 2, 2013 at 1:48 PMJasonhor

Anyone has get any thing about the loan ?

 
July 2, 2013 at 7:53 PMtyh

Go for either OCBC or Alliance banks.these are the 2 banks worth to consider.

 
July 3, 2013 at 10:21 AMJasonhor

Ocbc quite provide quite a good package, have u get any ifmation about this ?

 
July 3, 2013 at 8:50 PMtyh

Yes. I signed up for OCBC. You can check out alliance bank. Slightly better than OCBC.

 
July 5, 2013 at 9:16 AMJasonhor

U already sign s and p ?

 
July 6, 2013 at 12:24 AMtyh

Yes. Signed.

 
September 2, 2013 at 6:36 PMy cy

what is state consent?

 
September 4, 2013 at 2:29 PMsamantha lau

hi all, do you know that this land is actually with restriction in interest. you need to get state consent when you purchase and take loan and sell in future. the developer has never mentioned about this when we pay the booking fee, so who is going to pay for the state consent fee for taking a loan? us as the Purchaser?

 
September 17, 2013 at 6:51 PMmal ziz

i'm not confident with this developer...never heard of this...!!!

 
September 18, 2013 at 12:47 PMJT

Both Developers (Tropicana and Ivory) are public listed company and not necessary the unknown in the industry.

Tropicana (previously known as Dijaya) is quite well known in Malaysia, at least you must have heard of their flag-ship projects such as tropicana club-house, golf resort, city mall and a series of upmarket residential development in selangor which bear "tropicana" brand.

Ivory, a penang based developer, comparatively is less popular in this case. Nevertheless, they have proven themselve with some strong track records such as moonlight bay, Penang Times Square, and Island resort. They have recently won the bid to rehabilitate the Plaza Rakya in KL.

 
September 24, 2013 at 12:52 PMsamantha lau

you can confirm with the S&P lawyer, you have to pay for state consent fee on loan, they are not going to apply for blanket consent (which covers state consent for sale and loan) to help you save costs. I have also heard the insider news that Jabatan Perumahan Negara has approved them to amend the provision in the Sale & Purchase Agreement to only deliver vacant possession in 4 years rather than 3 years, you may also verify this with your S&P lawyer.

 
September 24, 2013 at 1:02 PMsamantha lau

that's why they let you pre-sign just the S&P signing pages, they are going to amend Clause 25 to amend delivery of vacant possession from 36 months to 48 months after stamping and let you initial all the pages like normal, making you think that this is a standard S&P (i.e.delivery of vacant possession in 3 years) when in actual fact, they have already asked their panel of S&P lawyer to change Clause 25 to deliver VP in 48 months. If you blame the S&P lawyer later, they will say that you are the one who do not read the clause properly and simply sign!

 
September 26, 2013 at 4:25 PMAnonymous

Observe the date written on the Sale & Purchase Agreement. Any changes in the new ruling must coincide with the same date or later.

 
October 23, 2013 at 10:06 PMAnonymous

ivory is not that reliable. they have had project delays before due to bad planning and they are not financially strong like SP Setia

 
October 24, 2013 at 2:58 PMJT

Yeah it is true that Ivory can never be like SP Setia, Mahsing, or IJM land from finance perspectively. However I am sure if Bayan Mutiara's bid won by any of the big shot as mentioned, they will not be selling at 700psf.

 
December 14, 2013 at 1:59 PMpenang

Soho will end up paying very high Assessment Bill and subject to GST when it is rented or sold...unless one is prepared to pay extras, have to consider seriously these additional charges...

 
August 23, 2014 at 6:19 PMAnonymous

Hey.. any buyer has been contacted by the lawyer recently to sign an additional documentation?

 
November 15, 2015 at 10:48 AMJane Khor

Attractive package for Block F units Interested pls do not hesitate to contact Jane@016-4405426 or email to janekhor94@gmail.com for more details.thank you

 
May 10, 2016 at 11:08 PMdarold tan

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LIMITED UNITS LEFT with Attractive Early Bird Package !!

SHOW UNIT IS READY !!
GRAB IT FAST BEFORE TOO LATE !!

Please contact Darold Tan to enjoy Early Bird Package !!
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August 5, 2016 at 2:23 PMah pang

hi, i hv 2 units for sale ......
- Block A x 872sqf x poolview x 1cp x 730k
- Block B x 1020sqf x face main road x 1cp x 820k

Hi, Call or Whatsapp me, if interested...Phang 0164704702 From Real Estate agent, Thanks

 
December 5, 2016 at 4:52 PMAnthony

Hi,
I have some units for sale and rent. Pls call or watsapp Anthony from Popular Realty. 0124333370 or 0124338798. U can also email to intradayman@gmail.com. TQ
Will try my best to negotiate for u. TQ and have a nice day.

Owners who are willing to let go or rent can contact me too. TQ