M Summit set to launch two new projects with combined RM85m GDV

GEORGE TOWN (Jan 9): Penang-based property developer M Summit Group is set to launch next month two new mixed-development projects, with a combined gross development value (GDV) of RM85 million.

Its managing director Datuk Albert Moh said the group’s first project outside Penang, Lakeside Pavilion, would be launched in Kedah with a GDV of about RM20 million.

He said earthworks on the 1.2ha land located in Jitra had started with piling expected to begin after the Chinese New Year break and completion slated for 2018.

“This is the first time the group has ventured outside Penang. It is also the best platform for us to explore new opportunities, especially in the northern region,” he told Bernama.

He added that the project, which includes six units of bungalows and 14 units of semi-detached houses in Taman Tunku Sarina, would be priced from RM600,000 to RM1.8 million.

Moh said the other new project to be launched after Chinese New Year is the Scots Pavilion in Penang, a retirement cum wellness home, equipped with facilities for physically challenged individuals.

He said among the special features of the project located in Scotland Road include a 100% wheelchair-friendly bathroom, entrances wide enough for wheelchairs, a hydro therapy pool, panic button in every unit, a mechanical car park and physiotherapy centre.

He explained that the project would have 89 units in a 22-storey tower and a cafeteria and convenience shop on Level 1, while the rooftop has penthouse units.

Moh said the launch price would be fixed at RM700 to RM750 per sq ft with a minimum two parking lots for each unit.

This article first appeared in The Edge Financial Daily, on Jan 9, 2017. Subscribe to The Edge Financial Daily here.