Raffles Residence 199 is a freehold, residential development located at Bukit Gambier, Gelugor, Penang. Boon Siew Group (BSG), the Penang-based property developer expects the project to be completed by the end of 2015. The name, Raffles Residence 199, indicates that only 199 units are to be made in this project. The units are almost identical 3 storey terrace houses with 5+1 bedrooms and 5 bathrooms. At the project’s launch, the units were priced at RM1,588,000. However, since the project’s launch, asking prices have inflated by 10%-15% as of Q3 of 2013.Raffles Residence 199 is situated close to a good amount of amenities. Two clinics, namely the Rakyat Clinic and I-care Polyclinic is conveniently situated less than a kilometre away. For Muslims, there are also 2 Masjids, which are Masjid Jamek Batu Uban, and Masjid Pantai Jerjak, within walking distance. For working parents, there is a Sunshine Child Centre located nearby. Two government schools are located within one kilometre also, namely SMK Bukit Gambir, and SK Minden Height. Universiti Sains Malaysia is located south east of the area, also being less than a kilometre away.Further away from Raffles Residence 199, the Tesco Hypermarket of Penang is 10 minutes away with clear traffic. A Tesco Extra is also located nearby on a less travelled road, making it less than 5 minutes away. A shopping mall named the Sunny Point Complex is within comfortable driving distance should one prefer a change of destination. In terms of public transport, the Sungai Nibong RapidKL hub is within walking distance.
Property Details
Name: Raffles Residence 199 Address: Bukit Gambier, Gelugor, Penang Developer: BSG Property Completion Date: Q4 2015 (estimate) Type: 3-Storey Terraced House Tenure: Freehold No. of Storey: 3 No. of Units: 199 No. of Bedrooms: 5+1 No. of Bathrooms: 5 Land Area: 20 ft x 80 ft Built-up: Approximately 3,000 sf Launch Price: From RM1,588,000 Subsale Price: Layouts
Three storey terraced house 5+1 bedrooms + 5 bathroomsAnalysis
BSG has been involved in the Penang development scene since as early as 1950. In terms of workmanship, the pride of BSG to date is Raffles Residence 18.18, which is able to boast a score of 85.2/100 given by the Construction Quality Assessment System (CONQUAS), an internationally recognised construction quality certification body, the highest score ever given by the body to date. Permata Arkitek would be responsible for the landscaping and the design of the development.The location of Raffles Residence 199 offers easy access to the Penang Bridge, being less than 10 minutes away with clear traffic, and easy access to the town as well. Traffic congestion is expected to be relatively heavy as it is near to Georgetown proper. The development also shares the same main road with two schools, attributing to its high congestion. With a buy-in price of at least RM1,588,000, this area is very exclusive with relatively low population density in comparison with the rest of Penang Island. Despite the high price tag, 95% of units were sold off within the first 6 months after launch. Land scarcity is driving the demand upward, and landed units are especially hard to come by in Penang.
