Our condo buyers are not speculators, says developer

MOST Malaysian purchasers of the RM180mil The Latitude condominium project in Penang bought the units to live in.

Ivory Properties Group Berhad executive director and chief operating officer M. Murly said the company sold 70% of the 218 units in the project.

The Latitude comprises two 45-storey towers with 109 units each.

He said 90% of the buyers were Malaysians while the rest were Canadians, Chinese nationals, Dutch, Indonesians, Japanese and Thais.

“Most of the Malaysians are not speculators. According to our feedback, they are looking to live in the units they bought,” Murly said.

Showing interest: Roadshow visitors viewing a model of The Latitude project.

The company held a four-day roadshow in Gurney Plaza, Penang, recently to sell the project which is located on a 0.84ha site in Mount Erskine.

Murly said the roadshow was originally meant only for Tower A sales but due to the overwhelming response, the company decided to also launch Tower B at the event.

He said the Tower B launching was originally scheduled for November this year.

He said a selling point of the project was its location at 153m above sea level.

“The Latitude can therefore provide a fresh mountaintop experience with breezy bay views that encapsulate the best that nature brings,” Murly said.

He said The Latitude’s proximity to prime commercial and residential areas such as Gurney Drive, Pulau Tikus and Fettes Park, all within a 5km radius, is also another selling point.

“The easy access to nearby shopping malls like Gurney Plaza, Straits Quay and Island Plaza all make retail therapy an achievable activity while the shops in Tanjung Tokong and Fettes Park have excellent street food and dining options,” he said.

Murly said there was also a wet market, schools and hospitals nearby.

He said the units, which will have built-up areas of 1,500sq ft or more, were currently priced between RM785,800 and RM3.56mil.

He said two parking lots would be provided for each unit. - The Star