Marina Tower

Marina Tower (also known as Ratu Mutiara Marina Tower) is a condominium located in Tanjung Bungah developed by Taman Ratu Sdn Bhd. The condo which was completed in 1998.Marina Tower consists of one 5-storey low-rise block and two 23-storey high-rise blocks. Overall, there are 208 units in total with three types of layouts to choose from, namely two types of standard units with built-up areas from 1,050 sf onwards and the penthouse units which is from 2,700 sf onwards.This 11 years old condo was built on a 5 acres plot of freehold land, which can be accessed via Jalan Batu Ferringhi. Some of the basic amenities around the area include food outlets, Tanjung Bungah wet market and community hall, shopping malls (Island Plaza, Gurney Plaza), schools (SJKC Pai Chai, SK Tanjung Bunga, SK Pendidikan Khas Persekutuan and Dalat International School), hotels and many others.

Property Details

Name: Marina Tower (also known as Ratu Mutiara Marina Tower)

Address: 1 & 3, Persiaran Tanjung Bungah, Tanjung Bungah, 11200 Penang

Developer: Taman Ratu Sdn Bhd

Completion Date: 1998

Type: Condominium

Tenure: Freehold

No. of Blocks: 3

No. of Storey

Low Rise: 5

High Rise: 23

No. of Units: 208

Maintenance Fee: RM0.20 psf

Launch Price: RM230,000 onwards

Subsale Price:

Rental:

Layouts

Standard Type 1

1,050 sf

2 bedrooms

Standard Type 2

1,350 sf

3 bedrooms

Penthouse unit

2,700 sf

5 bedrooms

Facilities

24-hour security

Swimming pool

Wading pool

Sauna

Landscaped garden

BBQ pit

Gymnasium

Community hall

Convenience store

Table tennis room

Analysis

These days, most property buyers are looking for properties with low density status or specifically those properties with less than five units on each floor. On the whole, Marina Tower is one of the low density types of developments. However, as one looks at the condo's average number of unit per floor, this could be one of its drawbacks as most property buyers perceive that properties with lesser units on each floor provide a feeling of exclusivity to property owners. Marina Tower has six units per floor in the low-rise block and eight units per floor in the high-rise blocks for the standard units. Residents also tend to link the density issue, as well as number of units per floor, with privacy concern. By looking at Marina Tower's density status, residents are assured to enjoy privacy in the comfort of their own home. Apart from that, the surrounding area of Marina Tower, which only consists of three neighboring developments namely the Twin Towers, Coastal Towers, as well as Mar Vista, also proves that the area is well planned and not congested. This is certainly important in promoting a serene and non-hectic stay for the residents at Marina Tower.This freehold condo may be located at a very popular area but there is one main concern that potential property buyers should consider. There is only one road leading to Marina Tower after the Jalan Tanjung Bungah stretch. To certain property owners, this could be a sign of exclusivity of the property but in terms of practicality, it would obviously be troublesome for accessibility to other areas within Penang Island. Further to that, certain parts of the road are poorly lit at night. This could pose potential danger to property owners driving along this road at night. Marina Tower's location gives residents the opportunity to enjoy panoramic views of Penang Island's beautiful stretch of beaches as well as lush green hills. However, as this condo sits on a plot of freehold land at the foothill / near to hillside, there are high chances of landslide occurring at this area. Even though the other neighboring condos are much nearer to the hillside, prospective property buyers should still consider any potential threat to their family’s safety. When one mentions about Batu Ferringhi, most people would be familiar with the name of this place. Being tagged as Penang's most famous beach area, the properties developed in the nearby areas have undeniably benefited from it in terms of increase in demand. As with many other developments within the area, Marina Tower is also one of the favorite properties among expatriates and foreigners under the Malaysia My Second Home (MM2H) program. This has truly promoted property investment on this development which can be clearly seen on the condo's pricing. Even though Marina Tower is somewhat old, its subsale value is still comparable to many other developments around its age. However, Marina Tower still falls under the affordable range as its subsale price is still lower compared to other new developments in Batu Ferringhi.