Huayang keeps its "promise" by acquiring lands in Bukit Mertajam (BM), Penang. If this acquisition is successful, it will mark Huayang's maiden foray into Penang property market.
When Huayang declared its intention to acquire land in Bukit Mertajam last year, I thought it would probably be somewhere near Juru area.
However, it turns out to be right in the old BM town center, which to me, is a bit of disappointment.
BM - Big Foot Hill
According to analysts, Huayang proposed to acquire 2 parcels of land measuring 4.9 acres & 3.14 acres for total cash of RM31 million, even though Huayang just made official announcement on one of the parcel (4.9 acres) through Bursa Malaysia.
Land 1 & 2 are located at the same area according to analyst's description, which is at BM town accessible through Jalan Aston & Lorong Usahaniaga 1.
Huayang plans to build 720 units of serviced apartment and 36 units of commercial shoplots on Land 1 with an estimated GDV of RM242.8mil.
So it's likely to be a 3-block serviced apartment on Land 1, in which the acquisition is expected to be completed by mid 2015.
Land 2 has residential title and will only made available in early 2016.
After this acquisition, Huayang's outstanding GDV will increase by 11% to approximately RM3.1bil.
Land 2 has residential title and will only made available in early 2016.
After this acquisition, Huayang's outstanding GDV will increase by 11% to approximately RM3.1bil.
BM old town has passed its glorious time in which it was busy at day time and happening at night time.
Now, it is still busy and congested at day time, but relatively quiet at night. One thing for sure is, it is a heaven for foreign workers especially during weekends and public holidays.
Thus, as a BM folk, personally I don't like to stay in this area.
New residential properties are mostly developed at the outskirt of BM such as Alma & Juru.
Nevertheless, there is a sign of revival of BM old town as developers started to clear squatters and build high-end properties here.
Ivory group who later paired with Dijaya (Tropicana), is one of the first to develop BM town center about 5 years ago with its luxury landed mixed development known as Aston Villa.
Sunway then followed with its Sunway Wellesley mixed development project which is currently still under construction. As we know, Sunway will not sell cheap.
As land and property price jumps in recent years, developers start to build condominiums.
Aston Park (Aston Vista) - a stone throw away from Huayang's land
Ivory has earlier launched the second phase of its BM project which was a luxury condominium called Aston Park. However, this project was quietly disposed to another lesser-known developer with its project name changed to Aston Vista.
Condos projects (roughly <2km radius from BM town center) which are already launched or awaiting to be launched in this area include:
- Seri Jaya condo (completed)
- BM Residence (Tambun Indah - completed)
- BM City (U/C)
- Aston Vista
- SkyVilla (Sunway Wellesley)
- BM Park Lane
- Dutamas Residence
- Sentosa Residence
- Berjaya Condominium (U/C)
- Casa Residence
- Spectrum Residence
- 79 Residence (U/C)
- Prominence (U/C)
Possible location of Huayang's land in Bukit Mertajam
The map above just shows possible location of Huayang's land in BM. Though it might not be accurate, it should be very close to that area.
As we can see from the map, Huayang's land is near BM hospital and some famous schools here such as Jit Sin independent high school, BM Convent and BM High School.
The land is also located next to Aston Heights which is a luxury gated & guarded landed residential project.
The land is also located next to Aston Heights which is a luxury gated & guarded landed residential project.
Perhaps to many people, this area might be a very convenient place to stay.
Anyway, BM is a highly populated area. Huayang has to come out with a good plan and good price in order to be successful.
chyokh
i prefer the beautiful and romantic scenery of big foot hill and Saint Anne church anytime compared to the traffic jams, congestions, container lorries, concrete jungle and mindless development at Juru or Alma. Thanks for the beautiful photos.
2015-01-30 06:48