A STRATEGICALLY located affordable housing development in the heart of George Town is set to welcome its homeowners soon, marking another significant milestone in Penang’s drive towards achieving its ambitious housing targets.
State Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu said the project stands out as one of the state’s premier affordable housing developments due to its location, accessibility, affordability and future connectivity.
Situated on land where market values have reached almost RM1,000 per sq ft, the development offers Rumah MutiaraKu units at prices below RM300,000, making homeownership more attainable for Penangites seeking to live within the city centre.
“If you go to Block 3, there are 402 units there, and we also have 192 serviced apartment units.
“The location is in the city centre of George Town, where land prices have reached almost RM1,000 per square foot, yet we are still able to build Rumah MutiaraKu homes here at below RM300,000.
“This project is outstanding in terms of location, pricing, transportation facilities and views. Residents can enjoy views of either the sea or the city centre,” he told reporters during a site visit today.
Sundarajoo added that future public transportation infrastructure, including the proposed Light Rail Transit (LRT) line, would further enhance the development’s value and accessibility.
The project comprises two main residential components under the Foreshore development.
The Foreshore Residence component features 402 Rumah MutiaraKu Category C3 units measuring 900 sq ft, all of which have been fully sold.
Of the total, 202 units were sold at RM300,000 each, while another 200 units were offered between RM430,000 and RM480,000, depending on parking allocation.
The development also includes 80 Category C2 units measuring 800 sq ft, which were fully sold at RM250 per sq ft.
Residents of Foreshore Residence will enjoy a dedicated facility floor, 16 units per floor and access to five lifts serving the residential towers.
The project also incorporates 14 double-storey shop offices, with seven units still available for sale at prices ranging from RM1.99 million to RM3.29 million, depending on size and location.
Meanwhile, the Foreshore Serviced Apartment component comprises 192 units, of which approximately 50 per cent have been sold.
The serviced apartments are available in three layouts: 689 sq ft units from RM395,800, 862 sq ft units from RM478,800, and 1,187 sq ft units from RM739,300. All units come with tandem parking facilities.
The serviced apartment block includes a dedicated facilities floor and two lifts serving 16 residential levels. The units can also be legally operated as short-term accommodation.
Sundarajoo said the affordable housing project had encountered numerous obstacles since its inception, including land acquisition and technical challenges.
However, through cooperation between the state government, developers, consultants and relevant agencies, the issues were successfully resolved.
“I am very happy today because this project went through many pressures and challenges from the beginning, including land and technical issues.
“Nevertheless, we overcame all the limitations, and within a month, we will be able to fulfil the dreams of the buyers by handing over the keys to their homes,” he said.
The official handover ceremony, dubbed ‘Penyerahan Impian’, is expected to take place on Aug 31.
On the broader housing agenda, Sundarajoo said Penang remains on track towards achieving its target of delivering 220,000 housing units by 2030.
To date, about 180,000 units are already completed, under construction or in various planning stages, leaving approximately 40,000 units to be realised over the coming years.
He said the target would enable an estimated 1.1 million people out of Penang’s projected population of 1.8 million to own homes by 2030.
“That means more than 60 per cent of Penang’s population will have their own homes through various housing products offered at different price categories,” he said.
Sundarajoo also highlighted the state’s latest affordable housing initiative, Rumah MutiaraKu Class D, which focuses on landed homes priced below RM400,000 in North Seberang Perai (SPU) and South Seberang Perai (SPS).
The programme, undertaken in collaboration with developers including Scientex, is aimed at widening homeownership opportunities and ensuring a more comprehensive range of affordable housing options for Penangites.
Story by Kevin Vimal
Pix courtesy of The Star