Penang is considered very attractive to overseas investors.
Property investment in the Malaysian state of Penang is once again in the spotlight among buyers and investors in Singapore, with the VVIP launch of Tropicana 218 Macalister taking place this weekend (16-17 August) from 10am to 8pm daily at the Tropicana sales gallery in TripleOne Somerset.
Located in the heart of Georgetown, the freehold 33-storey mixed development consists of a 200-room Courtyard Marriott Hotel, the first of its kind in Malaysia, 211 Neo Suites, 88 serviced residences, 20 boutique retail shops, and a refurbished mansion that commemorates Penang’s rich history.
The Neo Suites and serviced residences offer sea or city views, a full range of high-end recreational facilities and round-the-clock multi-tier security system with CCTV surveillance. Nearby amenities include reputable schools, healthcare facilities and tourist destinations.
PropertyGuru understands that a special launch discount will be provided during the event, which is being marketed by C&H group.
Penang is considered very attractive to local and international investors for a number of reasons including tax incentives, rising property prices due to land scarcity, a large pool of skilled labour and its status as the eighth most liveable and workable city in Asia by ECA International.
Tropicana 218 Macalister is expected to be completed in 2018.
Image: Artist’s impression of Tropicana 218 Macalister.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email: romesh@propertyguru.com.sg
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