KUALA LUMPUR: Penang-based developer Ivory Properties Group is set to launch the first phase of The Peak known as The Peak Residences in Penang in 1Q2010. The Peak is located at the foot of Mount Erskine in Tanjung Tokong. The 13.7-acre project has a gross development value of RM400 million.
Ivory Properties Group assistant project director Murly Manokaran told theedgeproperty.com The Peak Residences is positioned to be the “most affordable lifestyle high-end condominium at the Tanjung Tokong area.” Unit sizes range from 1,000 sq ft to 5,000 sq ft and are estimated to be priced from RM300,000 to RM1.8 million.
The Peak Residences comprises three blocks of condominiums with a total of 600 units (200 units each block) and 28 units of 2-storey commercial lots. The commercial units will be priced from RM430 psf. One of its features is a private garden for every Garden, Executive and Penthouse suite.
The Peak is located within a short 5-minute drive to Fettes Park, Tanjung Tokong and Gurney Drive.
The Peak consists of three phases. The second phase will comprise two blocks of condominiums with a total of 300 units while the last phase will have eight 4-storey shop offices.
Among some completed projects by the developer are condominium and commercial projects including Plaza Ivory in Bukit Gambier, bungalows and semi-dees for Palace Hill in Bukit Gambier, condominium The View Twin Towers in Batu Uban and Tanjung Park, consisting of condominium and townhouses, in Tanjung Tokong in Penang.
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