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Waterfront City project
The IJM
Group is unveiling its RM4bil Waterfront City, a seafront luxurious mixed
development next to the Penang Bridge next month.
The developer, Jelutong Development Sdn Bhd (JDSB) is a subsidiary of IJM
Properties Sdn Bhd, which owns an 80% stake in the company.
IJM Properties managing director Teh Kean Ming told StarBiz that the
152-acre project at the Jelutong Expressway comprised three components:
Over 1,000 units of luxurious low-rise, high-rise, and landed residential
on 42 acres;
Mixed development scheme, comprising about 80% commercial properties such
as hotels, corporate offices, food and beverage outlets and, retail shops
and 20% residential high-rise properties and
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A seven-acre park fronting the sea
Teh said the residential component of Waterfront City would be a gated
community, comprising strata-titled properties.
“There will be waterways constructed to surround the properties, fronting
the sea. This is one of the unique features of the project,” he said,
adding that the other special feature was a six km sea-fronting promenade
with a 10m width, stretching from the Penang Bridge to Sungai Pinang in
George Town, where the Jelutong Expressway ends. There will also be a 2km
green belt, with a 20m-25m width, to separate Waterfront City from the
Jelutong Expressway.
The Waterfront City project would be launched after the Chinese New Year
next year.
He said the properties, targeted at the regional market would be launched
in phases over a 10-15 year period. JDSB’s RM1.2bil Bandar Sri Pinang
project, also along the Jelutong Expressway, was 85% completed.
“We will also be launching the Nautilus Bay landed residential scheme and
The Spring condominiums for the Bandar Sri Pinang project next month. The
Nautilus Bay, comprising 78 three-storey terraced houses, has been
completed and will be launched for sale soon.”
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“We plan to launch next year the Summer Place, the final residential phase
of Bandar Sri Pinang comprising 531 units of condominiums,” he said,
adding that the RM680mil Metro-East mixed developments, also along the
Jelutong Expressway, was about 60% completed.
“We still have two more key residential and commercial projects to launch
for Metro-East,” he added. |
