Ivory Properties optimistic on 2022 performance underpins by govt stimulus plans support

GEORGE TOWN (Sept 29): Penang-based property company Ivory Properties Group Bhd remained optimistic on its performance for 2022 underpinned by support from the government’s stimulus plans to spur the property market.

Group chief executive officer Datuk Low Eng Hock said among its ongoing projects in the state included the Crown Penang in Straits Quay, The Millennium in Batu Uban and The Wave at Penang Times Square.

“We remain optimistic in 2022 with the support of the government stimulus plans to spur property market, however, we will continue to be cautious towards future ventures to address challenges posed by the pandemic,” he said in a statement, which was issued after the company’s annual general meeting, today.

He said the RM340 million Crown Penang is a soaring 40-storey serviced suite located on a 0.81 hectare prime land while The Millennium is a mixed development sprawling over 2.39 hectares of prime land with an estimated gross development value (GDV) of RM950 million.

Besides that, he said The Wave at Penang Times Square is located in the central business district with easy access via all major roads and amenities and would be completed in the first quarter of next year

Meanwhile, he added that Ivory Properties is also targeting to deliver two projects by 2026, namely, the Grand Connaught in Cheras and Avenue 8 in Sungai Besi, which would be the company’s first venture outside Penang.

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