OVR Site Progress as at 02/11/2010

Here are the latest images from the site.


As for the new access road, it is right on track and should be open for public very soon.

Good news for potential home buyers

Flexible EPF withdrawal

The Employees Provident Fund (EPF) has launched a flexible withdrawal scheme for higher-end houses, which will be effective from Sunday.

In a statement released yesterday in Kuala Lumpur, the EPF said the scheme is open to contributors who have not made withdrawals under the existing scheme to purchase a house or reduce their housing loans.

The main difference of the new scheme is that it is designed to give qualifying members, who initially were not eligible for a higher loan, a better chance to boost their home loan eligibility with the banks after they get to view the members' current and future EPF savings potential.

Those who have made housing withdrawals or who are above 54 years of age are not eligible for the new scheme.

EPF chief executive officer Tan Sri Azlan Zainol said the new scheme does not affect a member's retirement funds as savings that have been set aside under this facility will continue to earn the yearly dividends paid by the EPF.

Members must be below 54 years of age on application day and the application must be made together with their application for EPF withdrawal to purchase/build a house or reduce their housing loans.

A member may transfer part of his savings in account two to the flexible housing withdrawal account, followed by a monthly transfer of a specified amount or contribution to this account.

The flexible housing withdrawal account is not a newly set-up account but a template within account two, created for administrative purposes.

The minimum amount for the housing loan will be determined by the initial two participating banks, namely Malayan Banking Bhd and Public Bank Bhd.

Savings which have been set aside under the flexible housing withdrawal cannot be withdrawn or utilised for any other pre-retirement withdrawals such as housing, education or medical.

Members, however, can still use the remaining savings in account two for other pre-retirement withdrawals.

Each application is to be submitted by the member to the financial institution from where he will obtain the housing loan.

All application forms will then be submitted to the EPF by the headquarters of each participating financial institution.

Members who wish to cancel their flexible housing withdrawal term may do so, but only after a year from the commencement date of the facility and upon consent from the participating bank. - Business Times

PIP Property Summit (24-26/09/10)

Ocean View Residences is part of this outstanding event that will showcase development projects from all the major developers in Penang.


As usual, the venue of the summit is at PISA...


It is normal practice for all the major developers to pay much attention and detail to their respective booths. First impressions is a major factor when it comes to promoting your development projects. Naturally, OVR did not fall short in this aspect.


The Chic Urban Living concept on which OVR is based still gets the better of the crowd's curiousity and interest. The fact that the first Metrocity in Butterworth, Harbour Place, is fast becoming a reality is another attraction that is drawing in the crowd.

OVR Site Progress (15/09/2010)

Here are the latest images from the construction site.

Construction for the new access road to Harbour Place has commenced as well.

Harbour Place article in the Star Newspaper

Harbour Place a much sought after address

Thursday July 8, 2010

By CATHERINE CHONG

BUTTERWORTH’s skyline is set to be transformed with the RM700mil Harbour Place project that will also include a hotel and a college.

Touted as the town’s first Metrocity, the development will see the opening of Swiss Garden Harbour Place next year as well as an educational institution right at the residents’ doorsteps.

Harbour Place is made up of three distinct components, namely The Urban residential zone, The Metro commercial and education zone, and The Retro entertainment and F&B zone.

Pleasant environment: An artist's impression of the new Entrance Statement at the junction of the new access road to Harbour Place.

PJD Group’s senior sales and marketing executive Nicholas Ng said the integration of a ‘live, work, play’ lifestyle had made the project a much sought after address not only among locals but also foreigners.

He said the residential component comprising two luxury condominiums (Phase I and II) — Park View Tower and Sea View Tower — were fully sold out while Ocean View Residences (Phase III) was now open for booking.

“Response to the 386 units in the 30-storey block has been great with about 65% sold to date.

“Targeting the younger market, architectural designs are based on our ‘Chic Urban Living’ concept with the creation of an environment that is both stylish and dynamic,” he said.

PJD Group will promote Ocean View Residences at the Star Property Fair 2010 which will be held at the G Hotel and Gurney Plaza in Penang from July 23 to July 25.

And in conjunction with Harbour Place’s 8th anniversary, purchasers who sign up from now until the fair ends are entitled to a free fully furnished kitchen system and three air-conditioning units worth RM30,000 in total.

With a targeted completion date of mid-2012, the units have three designs with built-up areas of 938 sq ft and 1,100 sq ft. Each unit boasts its own unique features and comes with three bedrooms and two bathrooms as well as a sun deck.

Star Property Fair (23/07/2010)

For the second consecutive year, Ocean View Residences makes an appearance at this ever-popular fair in G Hotel, Penang.

Our beloved Chief Minister also dropped by the fair amidst his usual busy schedule...

Latest news on Penang Sentral (15/06/2010)

BUTTERWORTH: Work on the RM2 billion Penang Sentral, a transportation hub modelled after Kuala Lumpur Sentral, is expected to be ready by 2015.

Second Finance Minister Tan Sri Nor Mohamed Yakcop said the project would be completed by 2015. The first phase, which includes the construction of bus and taxi terminals as well as retail outlets, will be ready by 2011. It will cost about RM300 million. The subsequent phases are commercial in nature.

"The project will comprise an integrated terminal for rail, road and sea travel and is one of several major projects aimed at strengthening Penang's role as a logistics and transportation hub for the Northern Corridor Economic Region (NCER)," Nor Mohamed said yesterday. Prime Minister Datuk Seri Abdullah Ahmad Badawi performed the ground-breaking ceremony for Penang Sentral last August.

The project, located on a 12.8ha site, is jointly undertaken by Pelaburan Hartanah Bumiputera Berhad (PHBB) and Malaysian Resources Corporation Berhad (MRCB). Nor Mohamed said the Penang Sentral temporary bus terminal marked an important milestone after plans to develop the site hit a snag over the past seven years. It will replace the terminal, built under a flyover, after a fire gutted the three-storey bus complex owned by the Penang Port Commission in 2001.

Penang Sentral will be a welcome relief for commuters who have been complaining about the deplorable conditions at the existing terminal. Penang Sentral Sdn Bhd chairman Kamalul Arifin Othman said the completion of Penang Sentral would help maintain the same service without disrupting their lifestyle.

New Straits Times Online