Batu Ferringhi Residential Land For Sale - Ideal For Branded Luxury Resort Villa Bungalows Development.

The site is gradual slope lying on elevated ground from the access road, walking distance to the beach. Previously approved to build 29 villa bungalows & only allowed 4 units per acre but now due to stringent guidelines, MBPP not allowing because the subject site with parts of the land of Class 3 & 4 slopes. Buyer buy the subject site, 29 plots of vacant lands on a "as is where is basis" without the PM and asking price have been reduced from RM42mil to RM33.9mil. Hopefully, in the near term, the State Govt of Penang will later on change the guidelines to allow to do so. At that time, lands with such restrictions from the State of Penang was the last property to be approved for such development.

The Wealth Report 2022 by Knight Frank - luxury residential markets worldwide enjoy a red-hot 2021 as luxury homes became the asset class of choice for ultra-high-net-worth buyers and not w due to stringent guidelines from MBPP, the subject site with parts of the land of Class 3 & 4 slopes not allowing.  affected much by the pandemic in the past two years. Price is not really an issue for ultra-high-net-worth buyers when searching for a property. They focus more on the product & service quality. Luxury residential targets a niche group of buyers. Therefore, the product has to be designed to suit their needs.

High demand for luxury resort bungalows RM8mil targeted ultra-high-net-worth buyers from Hong Kong, China, Spore, Indonesia, Thailand, Japan, Europe and locals.

Dear property buyer, this is a special-land listing direct with owner, foreigner buyer [Singapore/ Indonesia/Thailand/Hong Hong/China/Japan/Australia & others local luxury land buyers] welcome to make an appointment for an exclusive site-viewing. Must View! Don't Miss! For convenient communication, foreigner buyer please whatsapp [+6019 322 8086] your company name card and via whatsapp easy communicate to each oth...

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