Olive Tree Residences (formerly known as Mahsuri Condominium) is a freehold residential development located in Bayan Baru, Penang. The development is very exclusive and extremely low density as it features a maximum of 6 units per floor.Each unit within Olive Tree Residences comes with two parking lots upon purchase. All units come with air-conditioning readily equipped in every room and overall semi-furnished. It includes wardrobes in all bedrooms and cooker with hoods and cabinets in both wet and dry kitchen. The developer also provides a HDTV along with broadband internet. Facilities of Olive Tree Residences are located upon the 7th floor which is also known as the club floor which is equipped with a swimming pool, gymnasium, games room, function room and a children's playground. A themed pool deck would also be built along with a relaxation garden along with barbecue facilities. Security is also paramount within any residence of Olive Tree Residences, and the premises come equipped with CCTV surveillance in all common corridors as well as lifts. It features two-tier security with an intercom system allowing for convenient and instant contact with the security personnel in cases of emergencies. Furthermore, it is also conveniently situated near to many amenities. There is a Giant Supermarket and the Bayan Baru wet market within walking distance being less than a 2-minute walk. Apart from that, Tesco and Queensbay Mall are less than 10 minutes' drive away. The closest hospital nearby is the Pantai Medical Centre. It is also a 7-minute travel time away from Universiti Sains Malaysia. It is also located directly adjacent the Penang International Sports Arena (PISA). The location is also excellent as it is very central being so close to the heart of Bayan Baru. Jalan Tun Dr Awang is the main road that leads to both north and south of Penang. The location is also less than 10 minutes from both the Penang Bridges as well as the Penang International Airport. There is also a RapidKL bus stop located right across the street as well as a taxi stop.
Property Details
Name: Olive Tree Residences Address: Bayan Baru, Penang Developer: HIG Livingston Completion Date: December 2015 (estimate) Type: Residential Tenure: Freehold No. of Blocks: 1 No. of Storey: 23 No. of Units: 91 No. of Bedrooms: 3 - 7 No. of Bathrooms: 2 - 6 Land Area: 3 acres Built-up: 1,656 - 5,135 sf Launch Price: RM761,000 - RM3,738,735Layouts
Type A 4 bedrooms + 3 bathrooms (1,861 sf) Type B 3 bedrooms + 2 bathrooms (1,721 sf) Type C 3 bedrooms + 2 bathrooms (1,656 sf) Type D 5 bedrooms + 5 bathrooms (2,919 sf) Type E 7 bedrooms + 6 bathrooms (5,135 sf)Facilities
Swimming pool Gymnasium Games room Function room Children's playground Themed pool deck Relaxation garden Barbecue facilitiesAnalysis
Harta Intan Group was established in 1996 and classified under Grade G7 of Construction Industry Development Board (CIDB), which is the highest rank. They do have the penchant to develop highly exclusive properties with great success such as the Air Rajah Bungalows which consists of only 3 bungalows located along Jalan Tengku Abdul Rahman.The future plans of the developer are able to hold a lot of water, so to speak, simply because of their background as an established development company that has consistently succeeded in delivering. There is one block of Olive Tree Hotel located right beside the residence, and two blocks of commercial building being planned for a plot of land behind the residence. The excellent location with good amenities, as well as the good planning on the part of the developer would probably translate to excellent capital appreciation; despite a rather steep buying price, it is hard to go wrong with this property.
