Ocean View Residences Starts to Take Shape (24/08/2009)

The foundation works for Ocean View Residences started a few weeks back and everything is on schedule. PJ Development has decided to adopt a new cutting-edge construction technology known as the MFE (Mivan Far East) Aluminium Formwork. This technology is practiced in countries like Dubai, Abu Dhabi, Hong Kong, China, Thailand and Singapore. The reason for PJD to follow suit is that this technology will be a able to provide stronger, more accurate, highly tolerant and higher quality finished concrete surfaces. This versatile construction technology virtually brings the "assembly-line" productivity to the construction site itself.

Just imagine that by July 2012, this empty piece of land will be replaced with one of the most innovative condominiums around.

Chic Urban Living comes to Penang Island

Ocean View Residences is holding a roadshow at the ever popular Gurney Plaza from the 21 to 23 of August 2009 to create more awareness of the project to the islanders.

PJ Development was among the few distinguished developers to exhibit their latest product at this property fair. The atmosphere was abuzz with activities as there were also quite a number of other non-property exhibitors as well.

Curiousity got the better of these ladies as they went closer for a better look and made enquiries about the project.

The Chic and Easy scheme seems to work like a charm here as well.

A positive property market

I came across this interesting article at the Penang Apartment website. Looks like the property market is starting to recover.

Signs of quick rebound in property sector

The slew of property launches and speedy take-up rates lately are signs that the local (property) sector is on a quick rebound from the global economic downturn.

In its latest report, HwangDBS Vickers Research said the local high-end property sector had been on an uptrend, with developers raking in quick profits from project launches.

Among them were DNP Bhd’s Verticas condominiums in Bukit Ceylon, Kuala Lumpur, which saw 60% of the 50 units soft launched being taken up.

En bloc buyers also snapped up 93% of non-bumiputra units launched (last month) at IJM Land Bhd’s Light Linear project in Penang.

“We see demand for high-end units returning, which could re-rate the sector,” said HwangDBS.

It also highlighted Eastern & Oriental Bhd’s St Mary serviced apartments in Kuala Lumpur (launched in June, 80% take-up in five days) and SP Setia Bhd’s Sky Residences condominiums in KL (previewed in September 2008, with an average 70% take-up so far).

“Developers are more confident now to resume launches, which should lead to faster earnings recovery. Selling prices may soon be raised and incentives gradually pulled back, resulting in margin expansion for developers,” HwangDBS said.

An analyst from a local bank-backed brokerage said the take-up rates were not surprising, given the developers’ good reputation.

“These developers aren’t your fly-by-night type of developers. They have very good reputation and solid track record. The average investor or house-buyer is more likely to park his money with a well-known developer, knowing that his money would be safe,” he said.

Another analyst said the property sector was making a comeback in the region. In the last few months, Hong Kong, Singapore and China had seen strong surges in property demand, she said.

“There’s so much liquidity with nowhere to go. This is one of the safest ways to fight inflation. Putting your money in the bank basically means being eaten up alive by inflation.

“Malaysian property is generally still very affordable. If you don’t buy one now, it will be even more difficult to afford it next time. The 2% interest you get from banks is nothing,” she noted.

HwangDBS also highlighted the Malaysia Property Inc, a joint public-private sector initiative aimed to attract foreign investments worth RM20bil in the domestic real estate sector over the next 10 years.

“The recent liberalisation measures (abolishment of local equity ownership requirement for mergers and acquisitions and Foreign Investment Committee approvals) should help boost both foreign and local demand for Malaysian properties.

“Previous policy changes (waiver of real property gains tax and monthly EPF withdrawals) introduced just before the financial crisis have yet to be fully felt and could be strong catalysts during a recovery,” it said. - By Eugene Mahalingam (The Star)

Sunway Carnival Mall Roadshow (29/07 -03/08/09)

Ocean View Residences decided to do its first roadshow to help create even more awareness for this project and what better than at Sunway Carnival Mall in nearby Seberang Jaya.

"CHIC + EASY Way to Property Ownership" was the theme - just like what it says on the backdrop...

The Exhibition Booth was quite attractive and in line with the Chic Urban Living concept.

The embedded cube boxes which was strategically placed around the exhibition area added colours and vibrant to the area.

As usual, the Chic Urban Living was drawing in the crowd...

While the parents are busy considering their new homes, the children had a great time at the play area...

Durian Runtuh Party (18&19/07/2009)

It was a fun-filled weekend at the Harbour Place sales office because of the Durian Runtuh Party. And the event mascot says it all.

There were fruits everywhere. And it certainly more than enough to go around...

It was heaven for durian lovers as the king of fruits came in the basket fulls.

And to cool down after the durian feast, fresh coconut drinks were served.

Everyone who attended the party had a great time. Not much persuasion was needed to invite the guests to dig in. And who can blame them? The durians were simply irresistible.

Some things are better left to the experts - like opening durians in record time in order to accommodate all the guests.

Needless to say, it is not only the durians that are attracting the crowd. The show house and the scale model of Harbour Place's latest installment, Ocean View Residences, has pulling power of its own.

The Official Launch (27&28/06/2009)

Ocean View Residences was the talk of town again as it was officially launched last weekend. So, the new Harbour Place Sales Office was the center of activity again.

The Clowns were back again to entertain the children while the parents had a real good look at this new luxury condominium that will start to take shape soon in the heart of Butterworth.

The children also had a ball at the Sand Art station especially prepared for them by the organizers.

For the grown-ups, they had the live band performances to cheer them up. Although this event was held on a slightly lower scale, excitement and fun still filled the vicinity.

The sales office opened its doors to quite a number of patrons over the weekend. It was no surprise when a number of units were taken up during the official launch. Chic Urban Living is certainly making a good impression on the local market.

The Soft Launch (13&14/06/2009)

With the hot response from the private preview, it is no surprise that the soft launch of Ocean View Residences was held on the very next week.

The brand new show houses that are incorporated into the new Harbour Place sales office was a real crowd-puller. It gives the crowd an idea of what chic urban living really means.

Things were pretty busy at the sales office as well...

As part of the soft launch, PJ Development included some events to entertain the crowd. On the first day, there was Mr. Clown and his bag of tricks to keep the children happy.

The DJ had some fun with the crowd by organizing games and giving away gifts.

A few local artistes were also there to thrill the crowd with their performances.

On the second day, a bigger crowd gathered at the sales office to experience for themselves what all the excitement is about with this new project development called Ocean View Residences.

Looking for a new house can really build up an appetite...Rest assured the organizers had that covered too.

Mr. Clown was back again - much to the delight of the children. The children in particular really had a great time with all the events organized especially for them.

The arrival of the honoured guests, in the form of a few local celebrities, certainly made an impact to the occasion.

In conjunction with the soft launch, PJ Development also had the final draw for their Mega Cash Home Bonanza. The lucky winners of the draw walked away with very lucrative prizes.

Local recording artiste, Vick Teo entertained the crowd with his pleasant songs...

While Lai Meng, Gan Mei Yan and Jack Lim kept the crowd happy with their jokes and humour...

Before the celebrities called it the day, they all made sure they left a lasting impression by autographing the stage walls - including the lovely Carla Soong.

All in all, the event was another big success. Quite a number of units were taken over the weekend and from the look of things, Ocean View Residences is really re-shaping the skyline of Butterworth in more ways than one.