Berjaya Land’s Penang project achieves 40% sales

PENANG (July 8): Berjaya Land Bhd has sold more than 40% of the first parcel of its Jesselton Villas development in Penang, since the official launch in May last year.

Eason Phan, executive director of Berjaya Land, said the buyer portfolio of Parcel 1 is the combination of owner occupiers and investors, most of which are locals.

“Our priority is the locals as the project is promoting the lifestyle of ‘home’,” he said at a press briefing held today.

Located on Penang Island, Jesselton Villas is a 58-acre guarded freehold development made up of three parcels. The first parcel, dubbed Kensington Gardens, covers 26 acres and offers 69 bungalow lots sized between 5,995 and 9,634 sq ft. The average selling price is RM674 psf.

The construction of the RM321-million Parcel 1 and major infrastructures will commence by this year-end. Jesselton Villas, which located next to Penang Turf Club, is the developer’s first bungalow lot development in Penang.

The developer has several design options for purchasers.

Parcel 2 consists of 18 acres, while Parcel 3 has 14 acres but the developer has not confirmed the launch date for the remaining two parcels. In total, Jesselton Villas has a gross development value of RM900 million, with 207 bungalow lots. It translates into four bungalow lots per acre.

The concept of Jesselton Villas is that of communal living and security, while providing a liveable and sustainable environment for residents. For example, the developer will transplant more than 300 trees to the area.

Meanwhile, Berjaya Land has an undeveloped parcel of more than 40 acres in Bukit Mertajam. However, it has no concrete plans for that parcel yet.