I was searching for Mah Sing's new project in Batu Fringgi, the Fringgi Residency on the internet and I could see the advertisement of the project and I pick up my phone to call Mah Sing to enquire about the project. The voice on the other line told me that the project have not been launched yet and she asked me whether I am interested in Tropical Fringgi. What Tropical Fringgi ? I have never heard about the project. The sweet voice asked me whether I would like to visit their show room. I told her I would and will be coming to their office in the afternoon.
By the way, I was going to E&O office at Tanjung Tokong to do some paper work and it was in the same direction. After visiting E&O's office, I drove towards Batu Fringgi. I have not been to the place for the past six months and I was also curious to see the development along the tourist belt. During the route, I could see that there are already alot of condos on my left hand side and going further , more and more conds appeared on my right hand side. I drove pass infinity, HR residence, Mutiara condo, Moonlight Bay, Raya Sayang and took a right turn after Golden Sands on the left and before Holiday Inn. I just sensed that the show room will be some where there. Yes, I was right. I drove along a new road cutting through the Kampongs and pass International College on my right and I drove further up towards the hills and at the end of the road , I saw the guard house of Tropical Fringgi. In front of me was a vast open hill and ample flat land for more resorts to come. It was like a big opening in the jungle up in the hills.
I drove through the guard house and drive slowly towards the show house. I found the sales office housed in one of the semi-D units. I met the sales personnel and they told me that they are from Mah Sing but handling the sales of the completed units . There are about 32 units and only 11 units are still available. It is all two and half semi-D houses fully completed with OC but the S&P is still pending the house rules in the project. It is going to be a guarded and gated resort and it cost about RM1.7million per unit to 2.5 million depending on the size of the individual lots. I visit one of the show house and I was told that more condos will be build on the top of the hills lining the resort.
It was a surprise for me that there is still so much land in the Fringgi area for more massive projects to come in the near future. The development along the Fringgi tourist belt is so amazing and moving so fast. There is a property boom in Penang now and there are so many projects in the pipeline to offer to investors. We have read reports that the house prices have gone up 30 to 40 % and it has gone beyond the reach of the average wage earners but yet, more houses or condos are coming up as the price of property goes higher. This is really strange. I have asked one of the housing agent and he told me that one of the reason is that many local Penang people have gone overseas to work and they bring back their money to Penang to buy property for their retirement or for their family. Anther reason is that there are many Singaporean and China investors who are very interested in Penang because of the current state government. Well, it maybe true but it is not good for the local residents who will need to move to the main land or up in the hills or to the far corners of the island to have a decent living.
Whatever, it is a matter of demand and supply. The land on the island is limited while there are so many investors hunting for a good retirement home. Money is everything if it comes to owning a property. Come what may, Penang will become another Singapore, Hong Kong and Taiwan, an expensive island in the sun.
Namaste.
No comments:
Post a Comment