Elmina Business Park, Selangor factory rented for RM36k | DONE DEAL

Carnelian Tower Forest City, Johor condo unit sold for RM500.89k | DONE DEAL

Pelangi Utama, Bandar Utama, Selangor condo unit sold for RM470k | DONE DEAL

Seri Bukit Ceylon, Kuala Lumpur condominium sold for RM430k | DONE DEAL

From a 1km radius from the point of Elmina Business Park, the average transacted price of properties has steadily increased to RM5.6 million (RM500 psf) in 2024 from RM4.5 million (RM401 psf) in 2023. Industrial land spans approximately 81.10 acres, or 31.08% of the area (source: EdgeProp EPIQ).

According to Peter Tang (REN 01200) (016-806 1119) of The Roof Realty Sdn Bhd, the tenant liked the unit in a new area for its good size, ample space, and corporate image, and felt it was a great deal. The owner was renting out the factory for returns on his investment.

As of end-September 2025, based on 100 sale listings on EdgeProp at Elmina Business Park, the average asking price was RM13,134,782.82 or RM773.72 psf, based on built-ups ranging from 6,450 to 575,000 sq ft. Based on 100 rental listings, the average asking price was RM30,610.28 or RM2.81 psf, based on a built-ups of 6,450 to 58,200 sq ft.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.