Ideally positioned in the heart of the city of Georgetown, the Tropicana 218 along Macalister Road seems to be gaining popularity rapidly for its scenic view of the sea and the Penang Bridge. We editors of PropertyReviews.my are suckers for properties with sea views, and we jumped at the opportunity to take a closer look…
The property is close to the Millionaires’ Row (or its formal, albeit less glamorous name, Jalan Sultan Ahmad Shah) on the northeast side and a short drive away from Gurney Plaza, State Mosque and the Kek Lok Si Temple while world famous hawker stalls and the Komtar building is several minutes away by foot. The airport is also easily accessible and normally takes less than an hour of drive to get to.
The Tropicana 218 Macalister which feature serviced residential units, a premier business hotel and cozy neo suites together with a plethora of high class retail shops, restaurants and cafes. The integrated development concept in the Klang Valley has hit Penang it seems. 🙂
Freehold, Penang Property = $$$
Tropicana 218 Macalister occupies a highly coveted two-plus acre of freehold land – and with land in Penang available for development now as scarce as condom machines in Vatican city, prices seem to go nowhere but up, up and up. Use this guide to help you nail down the fair market price for this property.
This project is to be built in several phases will eventually rise as a magnificent structure blending inherent town characteristics and contemporary layout and designs. Expected to be completed for the first phase are 71 units of neo suits, followed by 88 units of serviced residences during phase two and lastly, 140 neo suites, 20 retail spots and a heritage mansion for the final phase. The heritage mansion reminds us of the comparable Manor in Pulau Tikus, but that’s the topic for another review. 🙂
Both commercial and residential units will enjoy special features which include:
- Infinity swimming pool
- Wading pool
- Multi-purpose hall
- Children’s recreation playground
- Landscape garden
- 24-hour security
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Build up for the units will range from 378 sq. ft. to 1,312 sq. ft. The suites will be housed in two towers (nicknamed A and B) and will occupy floor areas between 683 sq. ft. and 1,299 sq. ft. Retail spaces, on one hand, will occupy two floors in Tower A and sizes will vary from 378 sq. ft. to 1,312. sg. ft.
Upon completion which is slated in 2017, there will be 208 hotel rooms plus 211 commercial suits and 88 units of apartments available. Launch and asking prices aren’t confirmed yet for residential units but its open for registration and will be subject to availability of units. For the suites, price is said to be set at Rm 1,000 per sq. ft. and retail spots are attached with a RM 2,000 per sq. ft. price.
Now the RM1,000 per sq. ft. price point may well be reflective of median KLCC property prices, and we figured that it’s a matter of time before the upmarket segment of Penang will catch up, and it does seem that Tropicana 218 is leading the way.
In addition to its breathtaking view overlooking the city, the bridge and the sea, Tropicana 218 is even more coveted for the topnotch amenities nearby including two hospitals (Loh Guan Lye and Gleneagles), a number of schools (KDU College Penang, The One Academy, Uplands International School and University Sains Malaysia), two malls (Queensbay Mall and Strait Quay Mall), temples and recreational spots such as the Bukit Jambul Golf & Country Club and the Botanical Garden.
If more efficiency and exclusivity is what you need, taxis can be hired as they are practically found everywhere and can take you to the city’s renowned amenities within a short drive. Walking is also possible but there are underdeveloped footpaths to look out for.
About The Developer
Formerly named Dijaya Corporation, Tropicana Corporation Berhad is Tropicana 218’s developer. Backed with a sterling portfolio and a 20-year proven track record, the developer for the much anticipated luxurious mixed development has a solid reputation for building homes and offices across the country.
Current developments include the AstonVilla Residences (not sure if it’s related to the venerable football club, but it is in Penang also) and the Hillside Island Resort while future projects include the Penang World City, Tropicana Bay Residences and the aforementioned Tropicana 218. In the Klang Valley, it’s most well known for its projects in the, well, Tropicana area (Casa Vista, Tropicana City, Merchant Square, Casa Tropicana).
The Tropicana 218 Macalister project seems to be further cementing Tropicana’s legacy of luxurious and contemporary living. Not only does the developer deliver but Tropicana is also actively involved in corporate social responsibility initiatives. In fact, the developer has recently supported the long enduring Penang Starwalk as its contribution to the community.
Considering that Georgetown is Penang’s transportation hub, getting in, out and around the city is well organized according to Malaysian standards. There are public aircon buses at Komtar building and express buses at Sungai Nibong operating whole day while the Jelutong Expressway connects Tropicana 218 Macalister to Bayan Lepas and Penang International Airport.
Our Final Analysis
Tropicana 218 has got three things going for it – (1) freehold, upmarket niche in Penang is on the rise, (2) integrated development is the way to go as far as Malaysia property is headed, and (3) a brand-name developer. The rather steep price point clearly positions it in the upper tier even for a Penang property, and this niche is currently wide open for Tropicana 218 to occupy and perhaps dominate.
Penang properties may have been overshadowed in the past two years with the emergence of the Iskandar region which is buzzing with new launches almost on a weekly basis. Tropicana 218 would perhaps bring Penang back into the limelight, but we shall see how it fares…