RM50mil deals made from Star Property Fair 2010

The three-day Star Property Fair 2010 at G Hotel and Gurney Plaza in Penang concluded with developers estimating total sales at over RM50mil, with many saying they had exceeded their initial sales projections.

They attributed brisk sales to visitors’ eagerness to make their investments now in view of rising prices.

Belleview Group sales and marketing manager Jeffrey Yeap said that as of noon yesterday, they had raked in RM7mil in confirmed sales for its projects — All Seasons Park, Bukit Dumbar Residences, Palmyra Residences and Melody Homes.

“It’s a great time to invest as owning a home allows one to hedge against inflation,” Yeap added.

SP Setia Bhd Group enjoyed some RM15mil in sales for its Reflections condominium project.

“It’s even better than last year. This time around, I’ve been attending to inquiries almost non-stop,” said Setia Pearl Island projects, sales and marketing, property division (north) assistant manager Joanne Koay.

Similarly successful was Ivory Properties Group, whose The Peak Residences — one of the few developments which offer a spacious, rooftop garden — was almost sold-out.

“Sales have definitely picked up, as people know that property prices will keep going up,” said corporate property assistant manager Michael Wong, adding that the company enjoyed over RM10mil in total sales for The Peak as well as its other projects such as Penang Times Square and Moonlight Bay.

MTT and Priority Group’s Botanica 3 residences offered something a little different — a green lifestyle — and proved a major hit.

With over RM8mil in sales thus far, the company described the response as “overwhelming”.

“In our project, one isn’t just buying a house, but buying a lifestyle,” said group executive chairman Datuk Dr Kenny Ong.

Upcoming developments were equally well received, with Ideal Homes Properties’ One Residence phase 3, Tree Residences, located near the Penang International Airport, attracting over 800 registrations.

General sales and marketing manager Nancy Teo attributed this to the project’s reasonable pricing for a landed, two-storey property.

The company’s other offering, 1-World 2, had its remaining units snapped up.

Property located outside Penang also generated much interest.

Synergy International Realtors, which is marketing The Haven Lakeside Residences in Ipoh due for launch later this year, said they had attracted 150 registrations from interested parties.

“It’s an eco-project set in an environment of limestone hills with easy access to Penang and Kuala Lumpur,” said the company’s managing director Terry Wong.

Far away in New Zealand, KPWG International’s offering — plots of land for its Hinamoki project at Kaipara Harbour on the North Island — was also snapped up.

“Plots are priced at around RM500,000 on average. You definitely won’t be able to find one-acre plots of land at that price in Penang,” said KPWG director Abdul Ghafar Abdullah.

Among those seen browsing the property offerings were accounts officer Cynthia Tan, 24, who was looking for a condominium with her boyfriend.

“We decided to drop by the fair since we can have all the developers under one roof. It is also easier to compare the offer prices instantly,” she said.

Sales manager Cheah Liling, 33, said her family was eyeing a landed property that could provide a bigger space for her family.

“We will be doing some survey on landed property available in Penang first to roughly know our budget,” said Cheah who came with her husband Lim Eng Kin and son Lim Sheng Xu.

As for software engineer Woon Tze Lean, the annual Star Property Fair was definitely something not to be missed.

“Even if we are not here to buy any property yet, it is interesting to walk around the booths and admire models of the projects.

“Who knows we might suddenly come across a dream home with an affordable price,” the 30-year-old said. - By David Tan, Priscilla Dielenberg, Ann Tan and Jeremy Tan (The Star)


July 27, 2010 at 4:18 PMUnknown

Developers and Relevant Government Agencies etc. Please take into consideration of social responsibility over high monetary benefits.Please provide more affordable homes for Penangite.

July 28, 2010 at 12:10 PMAnonymous

I dont believe what I read in the papers now .. just becareful as property prices are going up too fast and now comes BLR

July 28, 2010 at 10:55 PMUnknown

Yes, don't believe everything that is written in the newspapers now. Penang property prices rising cos greedy developers and too many speculators ..soon there will too many condominiums , the bubble will burst , property market will crash !

August 20, 2010 at 2:12 PMUnknown

in fact, combine sales of 50 mil is not good. Last year, at Pisa. ONe developer already raked in 30 mil sales. It is evident that the fair venue is not suitable.