According to the chief operating officer of Mah Sing Group, Teh Heng Chong, the project has an estimated gross development value (GDV) of RM280 million,
The development is located on Pykett Avenue, at the crossroads of Burmah Road and Anson Road in the heart of Georgetown, Penang. Mah Sing acquired the three-acre freehold tract in 2009 for RM39 million.
Based on the preliminary plans, the condominium will offer 290 units, each with sizes from 1,400 sq ft, with indicative pricing from RM770,000 onwards.
“The concept and design is similar to The Icon Residence Mont’Kiara,” said Teh, referring to the condo project in Mont’Kiara, Kuala Lumpur.
A spokesperson said that development was inspired by the architecture of Santorini in the Mediterranean, with each condominium opening out to a view of gardens, a stream and the ocean.
The group has another ongoing project in Penang, the RM1.3 billion Southbay Penang, a mixed development in Batu Maung.
To be developed over a period of seven years, Southbay Penang comprises 376 units of landed residential properties and an integrated commercial hub.
Southbay's designer bungalows, [email protected] won the Best Architecture-Malaysia award at the Asia Pacific Property Awards 2010 in April, 2010.
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