Mezzo beachfront condo at The Light City 40% sold

In Mezzo, the first residential component of The Light City mixed-use development on Penang Island, 40% of its 456 beachfront luxury condominium units have been occupied since its launch in April this year. The developer is IJM Perennial Development Sdn Bhd, a joint venture between IJM Corp Bhd and Perennial Holdings Pte Ltd.

IJM Perennial Development General Manager Tan Hun Beng said by email, “Buyers, mostly locals, are drawn to the location of the project, the surrounding facilities and the waterfront living environment. water.”

With a gross development value of RM512 million, Mezzo offers 2- and 3-bedroom units with built-up areas of 1,033 to 1,367 square feet on two 34-story towers on a 4.12-acre plot. The units are priced from RM 900,000 to RM 1.399 million.

“The 2 and 3 bedroom unit types were equally popular, with buyers having a choice of either the Penang Bridge view or the George Town view. All units offer stunning sea views, ”explains Tan.

He notes that there are only four units per floor in the development. “Private but pleasant at the same time, [Mezzo] is perfect for people who want to have their own quiet space or for families or friends who want to buy the units together.

According to him, many buyers bought units for their own stay, although a few bought to invest. “Buyers see the project as good value for money, and there is the prospect of rental income and future capital appreciation.

“The response to the 2021 Home Ownership Campaign (HOC) has been encouraging and homebuyers have been able to take advantage of the exemptions and discounts on Mezzo,” he adds.

Mezzo offers a range of facilities, including a gymnasium, water aerobics, beachfront swimming pool, jacuzzi, yoga pavilion, landscaped garden, children’s play area, games and reading rooms, a fitness station, function rooms and an outdoor barbecue area.

Located on the waterfront along the east coast of the island, the development is served by the Tun Dr Lim Chong Eu Expressway and is close to the Penang Bridge, Penang International Airport, the free industrial zone of Bayan Lepas and a ferry terminal.

According to Tan, the developer has relied heavily on online marketing as the project’s sales gallery is closed due to movement restrictions. “We got involved and reached out to our customers online. However, we are positive on sales in the coming months when the sales gallery reopens and restrictions are relaxed. “

The Light City’s 32.76 acres are in Phase 2 of the RM 6.5 billion The Light Waterfront Penang development, which first launched in 2009 and consists of three phases. It will include residential, recreational, commercial, entertainment, retail, hospitality and commercial components.

Phase 1 comprises 42 acres of residential development in which a total of 1,177 high-end residential units have been completed. Phase 2 is a 103-acre mixed-use development, while Phase 3 is a 7-acre beachfront park.

Source: TheEdgeMarkets.com


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