Condos for the Japanese

Teluk Air Tawar condo (artist's impression)

RAINE & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh is confident the time is ripe to market Penang properties more aggressively to the Japanese market.

His latest project is to sell three tower blocks at the Teluk Air Tawar condominium development in Butterworth to Japanese who are keen to have a vacation or second home close to three golf courses.

Located north of the Butterworth ferry terminal, the project site takes only 15 minutes to reach by car via the newly-built Seberang Perai Coastal Road.

Comprising 72 three-bedroom units in each of the three blocks, the project was revived this year and is undertaken by Welcome Properties Sdn Bhd.

Standard units have a built-up space of 1,328sq ft and come in two layout designs. They are all designed as corner units. The en bloc sale is estimated at RM30 million per block.

Geh, whose firm is in Penang, cites the scenic coastal location with a panoramic view of Penang island as an important selling point. The development site faces Tanjung Bungah and Tanjung Tokong on the island.

Location map of Teluk Air Twar condo project, dotted line in the map indicates the Seberang Perai coastal highway.

But the main attraction for targeted Japanese buyers is the proximity of the Teluk Air Tawar condo development to three golf and country clubs, namely, Cinta Sayang, Permaipura and Havard Jerai. They are all located to the north-east in Kedah. Cinta Sayang is only 20 minutes away by car.

And with the vibrant growth of commercial centres and retail outlets in Butterworth, residents will have no lack of shopping facilities such as the Tesco, Makro and Carrrefour hypermarkets.

As for food and beverage outlets, the highly popular Auto City commercial centre at Juru is a choc-a-block full of bars and restaurants offering all types of cuisines including Japanese and Korean as well as Western food.

With liberal conditions under the Malaysia My Second Home scheme, the Teluk Air Tawar development may soon become another Japanese enclave with spin-off services to cater to this expatriate community.

By The Star