E-Park

E-Park (also known as E-Park Condominium) is an integrated apartment resort which strategically located along Jalan Batu Uban in Gelugor area. The apartment was developed by the infamous Pernas Group.E-Park comprises of 3 blocks which each consists of 27 floors. There are 4 units for Block A and B, and 6 units for Block C on each floor. There are altogether 350 typical units measuring 800 sf and 7 penthouses measuring 1,600 sf in the apartment. There are several amenities surrounding E-Park, including hypermarket and shopping mall to cater residents' everyday necessities and fulfill shopping addiction. It is located just within short driving distance from Tesco, Queensbay Mall and the dynamic FTZ hub. It is also kilometers away from Sunny Point, which is an office complex that houses offices, car showroom, convenience store, art class and others. In addition, residents of E-Park can reach Universiti Sains Malaysia within walking distance. There are also a number of Malay villages located in the vicinity as well as mosque. There are several apartments residing along the same road which are namely N-Park, Villa Sri Kenanga and Sunny Ville. Residents of E-Park will find it convenient to travel to almost every part of Penang, including the Northbound which heading to Georgetown, and Southbound which leading to Bayan Lepas. Plus, motorists can access to Bayan Lepas with the Jelutong Expressway via the ramp nearby Tesco Penang.

Property Details

Name: E-Park (also known as E-Park Condominium)

Address: Jalan Batu Uban, 11700 Penang

Developer: Pernas Group

Completion Date: 1996

Type: Condominium

Tenure: Freehold

No. of Blocks: 3

No. of Storey: 27

No. of Units: 357

Built-up: 800 - 1,600 sf

Maintenance Fee: RM0.15 psf

Subsale Price:

Rental:

Facilities

Landscaped garden

Management office

Community hall

Launderette

Children's care center

Reading room

Common bathroom

Car wash bay

Cafe / restaurant

Conference room

Swimming pool

Wading pool

Water slide

Gymnasium

Sauna

Tennis court

Squash

Badminton court

Children's playground

Cineplex

Analysis

Each unit at E-Park is built with a balcony allowing residents with units facing the sea can always relaxed and take deep breath of fresh breezy air. In addition, one can enjoy mesmerizing view of the sea, Penang Bridge, Georgetown skyline and Butterworth coastal.The surrounding area of Gelugor including E-Park is part of the Penang Cybercity 1 (PCC1) which covers 923 hectares of the island. The cybercity plan would bring much more hi-tech developments and source economy into the area.Most of the locals and students of Universiti Sains Malaysia would prefer to stay in N-Park, which is a medium-cost apartment which costs them half the price and rental rate imposed for E-Park. Even though it is unlikeable by the locals, it is one of favorite home for exchange students who studying in USM, which mostly from the western countries.Being developed by the infamous Pernas Group, one can recall its notorious chief, Goh Chun Lai who is famous for swindling residents' sinking fund and cutting material costs during construction. This explains why the properties in the area including Sunny Ville and N-Park price tags keep going south and even below transacted developer's price.Depending on the owner, most units at E-Park come with a single covered car park and some come with two bays. Being 357 units residing in the apartment, illegal parking on the roadside near the entrance seems phenomenal, which can be evidenced at night. The situation is worsen with the residents fighting for the nearest spot to the entrance as there will be a long illegal parking queue on the roadside on the later time. If you are not quick enough, you will end up having to walk a long way to get home. Alternatively, you can rent a car park from the home owners who willing to rent out their additional car park.Besides that, traffic congestion in the area is bad which worse during peak hours. Most of the motorists from the residential in the area claim that they consume almost 20 minutes to get to the main road during these hours. This problem is due to numerous of high-density residential being packed nearby to each other and also being part living in one of the prime area of Penang.Looking at the price movement of E-Park in the recent years, it suffers the same fate as other residential in the area as its price is down trending and currently transacted below developer's price. Its rental yield is also does not seem interesting as well, unlike N-Park that offers better rental yield.