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Continue Reading ⋅ 30 January 2023
i-Santorini is a high density, 2155-unit, 3-storey affordable condominiums for Penangites. It is located 5 minutes from the Marina Straits Quay and Tesco, Tg Tokong. Priced at a minimum of RM430K, the prominent developer Ideal Property Group has become a part of the state government’s affordable housing scheme initiatives
The i-Condo series is a series of luxurious and affordable condominium developed by Penang-based Ideal Property Group. The series include One Foresta(Bayan Lepas) and i-Santorini(Tanjung Tokong) along with 3 other projects that are coming soon namely Sungai Ara, Sungai Dua and Balik Pulau.
Ideal Property Group has managed to launch only two locations, thus far. Its plan to go into the high-rise affordable housing initiative is in line with the state government’s plan to helm the PR1MA initiative.
i-Santorini, an upcoming affordable housing development by Ideal Property Group in Tanjung Tokong, Penang. The piece of land which was previously planned for a 988-units condominium project is now being re-purposed for affordable housing.
i-Santorini is located in the heart of Tanjung Tokong, along Jalan Pinang. The condominium’s exterior infuses a classy, laid-back Mediterranean lifestyle. Its design is inspired by the beautiful Santorini island of Greece.
Since Feb, 6 months ago since the project was open to public, it has recorded more than 80% of sales. The new development plan comprises two parcels:
- Parcel 1: 2 blocks of 48-storey residential towers (1,320 units) and 52 units of shop offices
- Parcel 2: 1 block of 49-storey residential tower (835 units) and 16 units of shop offices
Both parcels come with 8-level multi-story carpark and all affordable units has a standard built-up area of 850 sq.ft.
Property Project : I-Santorini @ Tanjung Pinang
Location : Tanjung Tokong, Penang
Address : Jalan Desiran Tanjung
Developer : Ideal Property Group (JV with UDA Holdings Bhd)
Property Type : Condominium (Residential)
Tenure : Leasehold
No. of Blocks : 3
No. of Storey : 48 & 49
Total Units : 2,155
Built-up Area : 850 sq.ft.
No. of rooms : 3 bedrooms, 2 bathrooms
Price range : RM430K – RM460K
Parking lots : 2 per unit
Maintenance fee : RM121.00/month
There are three towers making up i-Santorini, of which there will be 18 units per floor. Each tower has up to 48 levels altogether. Tower A and Tower B are open to the public, Penang residents and elsewhere, while Tower C has been reserved for those who work and reside in Penang only.
While all units carry a standard price of RM430,000, units priced at RM460K, which are facing better direction/ view of the waterfront are available too.
Features
- Open recreational spaces
- Lifestyle facilities
- Contemporary design
- Easy accessibility
- Close proximity to public amenities
- Lush greenery
- 24-hour security
Recreational facilities
- Barbecue area
- Cafeteria
- Covered parking
- Gymnasium
- Jacuzzi
- Jogging track
- Playground
- Sauna
- Swimming pool
- Wading pool
- Tennis court
Awards:
The developer, Ideal Property Group has won multiple property accolades during the PropertyGuru Asia Property Awards (Malaysia) 2020 event such as:
- Winner of Best Affordable Homes Developer
- Winner: Special Recognition for CSR (Corporate Social Responsibility)
- Winner: Special Recognition in Sustainable Design
- Winner: Special Recognition for Building Communities
Project Details
The architecture and exteriors of i-Santorini bear a distinctive look that resembles Greek designs.
Instances of incorporation of the Greek touch is the colour scheme used for its buildings, i.e : deep azure blue and white-washed walls, that blends seamlessly with the blue sky of Penang and the Andaman Sea nearby.
The interiors of the showroom have been transformed into immersive depiction of the peaceful and indulgent Mediterranean atmosphere, cleverly maximizing the 850 sq ft unit. The condominiums face the sea and come with three bedrooms and two bathrooms, which is standard of i-Santorini.
However, when we took a tour of the bare unit, we were genuinely surprised to see the amount of furnishings efforts being put into the furnished one!
These are the real units you get for the price you pay for RM430,000 in the heart of Tanjung Tokong.
The bare bathrooms and rest of i-Santorini rooms actually took our Mediterranean reverie completely out of our imaginations.
But anyway, at least it looks quite decent.
You may want to try and ask the developer what are the renovation procedures going to be like, or if there would be a protocol to go about with it at all.
Well, there is always the pros and the cons, and most things in life pretty much depends on our perspective. But we do always try to look at things on a brighter note. Wouldn’t hurt if you can also see if a lower price can be agreed upon.
Each unit comes with:
- Free 2 car parks
- MS grilled door at main entrance
- Air cond drain piping for living room and 3 bedrooms
- Upgrade to powder coated window frames
- Boxed up toilet piping
- Upgrade on air-cond yard (comes with inlet and outlet) – No aircond wil be provided
- Tiles flooring with wooden door
- Change on colour of floor tiles to white and upgrade size to 400mmx400mm
- Maintenance fee of RM121.00/month include the parking lot and access card features.
- 10 lifts will be servicing each block of the more than 40 floors of residents
Safety features
- Guardhouse, access card system and CCTV
- Fire safety features
- There will be flights of stairs on every end of each floor for escape purposes
- No balcony will be built for i-Santorini homes
- Maintenance fee will be imposed strictly, so that all residents remain responsible, failing which their access cards will be blocked and be denied entry.
Location
i-Santorini is located behind the sales gallery between Tesco Tanjung Tokong and Vantage, Desiran Tanjung.
The sales gallery is located at Vantage with the address :
A-3-6,7,8,9,10 (3rd floor) Vantage, Desiran Tanjung, Jalan Tanjung Tokong, 10470 Penang
However if you must find your way using electronic devices such as Waze or Google Maps, you may try following the following route. Follow your way to either Marina Straits Quay or Tesco Tanjung Tokong. You will still be able to find your way there.
The location map to i-Santorini project site
The sales gallery at Vantage, Desiran Tanjung
Highlights of i-Santorini would be its close proximity to some of Penang’s latest attractions and destinations.
Surrounding this project are high population density and international visitors who come here holidaying. It is also surrounded by luxury condominiums, bungalows, and 3-storey terrace houses which have appreciated a lot in market value of late.
Here are the distance to the main locations from i-Santorini condominium:
- Tesco (5 minutes walking distance)
- Penang Straits Quay Marina (5 minutes’ walking distance)
- Queensbay Mall 17km
- Georgetown 9km
- Gurney Plaza 1km
- Batu Ferringhi 10km
- Balik Pulau 2km (through Air Itam access road)
- Penang International Airport 1km
- Penang Bridge 2km
- Butterworth 8km (Through Penang Bridge, optional, Ferry ride)
Schools around i-Santorini :
- Dalat International School
- Tenby International School
- Penang Chinese Girls’ High School
- Phor Tay Primary & High School
- Tunku Abdul Rahman (TAR) College
- Han Ming Primary School
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Straits Quay, Penangites’ recreational location
i-Santorini residents will be able to enjoy the privilege of overlooking the harbor of Straits Quay all day. It is the latest draw and tourist location in Penang.![i-Santorini to Straits Quay Marina]()
![Straits Quay (Booking.com)]()
Straits Quay (Booking.com)
As Penang’s first and only seafront retail marina, the Straits Quay is the newest must-visit destination on the magical Malaysian island of Penang. Heavily influenced by western architectures as seen from the inviting atrium that makes the entrance of the building, the Straits Quay is a project by the distinguished E&O Property Development.
The Straits Quay is currently the latest favourite place for residents of Penang, both from the mainland and the island especially on weekends and during the festive seasons.
The Straits Quay has over 100 shops, bistros, bars and boutiques overlooking the festive marina, attracting thousands of visitors of Penang every day.
The Straits Quay Marina (Image sourced from Booking.com)
Straits Quay Marina has 40 pontoon berths that can accommodate boats from 10m to 25m in length, with the approach channel and marina basin dredged to three meters below chart datum. All berths have potable water and 240V 32/63A electricity supplied via pedestals. – (straitsquay.com)
Along with permanent attractions such as the Royal Selangor Visitor Center and Penang’s first dedicated Performing Arts Center, Straits Quay is awashed with energy and activity during every major festival especially Christmas and Chap Goh Mei.
Analysis
Santorini is one of the few high-rise buildings being constructed at the moment. Properties almost similar to the size of i-Santorini is going for much less in the mainland.
The VertuResort at Aspen Vision City by Aspen Group is also one such developments.
The Aspen Vision City is one of the projects on the mainland that is attracting much attention and soon, EcoWorld will also be jumping on the bandwagon.
Of all the projects under progress at present, i-Santorini is particularly high-density in capacity. Plus, it is a leasehold development. This means that, i-Santorini would appeal more to serious homebuyers eager to have their own homes.
| Project title | Tenure/Land Title | Built-up areas(sq ft) | No. of units | Price range |
| i-Santorini, Tg Tokong | Leasehold condominium | 850 (one size) | 2,155 (very high density) | RM430,000 |
| VertuResort, Aspen Vision City | Freehold condomimium | 1,030 – 1,290 | 1,282 | RM398,000 onwards |
| BM Parklane, Bukit Mertajam | Freehold mixed development | 947 – 1,513 | 278 | RM406,000 – RM600,000 |
We analysed the reason why i-Santorini is such a hit among the locals.
First and foremost, the location is prime.
The developer offers lifestyle-inspired residences at such an affordable prices. Perhaps the winning point of Ideal Property’s i-Santorini is that the idea of bringing Malaysians Mediterranean at homebase has been executed quite brilliantly.
It is a case of marketing and advertising done right, and Ideal Property Berhad had got it good.
About the developer
Ideal Group is a property developer in Malaysia which has completed many successful construction projects over the years. The company’s motto of “Creating Legacy” has allowed us to develop many admired and oft-praised property projects.
These eye-catching and highly-vaulted properties include Ideal Regency, 1-World, 1-Sky, I-Avenue, 1-Square, Terrace Plus, Krystal Point Corporate Park, The Palazzia, The C.E.O., i-Suria amongst others including luxurious condominiums, landscaped landed residential properties and industrial parks.
Whether in generating ideas, design or planning for a new project, the Group ensures that they are incorporated with humanistic elements, with advanced features such as environmental sustainability and energy-saving.
These stand-out features will ensure the timelessness and high value of the property. As such, Ideal Group is a trusted developer, always setting the benchmark and at the forefront of property development in the country.
Mission
To create a cross generation good living and take property development as a social development project, that is, under the prerequisite of fulfilling demand of society and trend of social development, to build good quality development project to upgrade the living quality of the community, and allow the descendents to inherit the precious heritage of the era.
Summary
Ideal Property’s project development strategy, is thus far, in line with the State Government’s plan to provide affordable housing for the people of Penang and some opportunities for Malaysian people to rake in the chance to invest as well.
This will eventually lead to more income flow for the state and generate employment opportunities in the future resulting in growing need for residential spaces.
One other project worth noting, which is also part of the state’s affordable housing scheme, is the Hijau e-Komuniti, one of the largest masterplan development project in Penang. It is conceptualised with an aim to continually realise the collective aspiration of Penangites who wish to own a home each.
For the purpose of general information, the Penang State Government re-branded low-cost and low-medium-cost houses to affordable housing types A and B.
Affordable housing is now categorized based on the following price points:
Obtained from Penang Property Talk
If at all, here is another great website for reference for those in search of affordable housing projects in the state of Penang. Some of the affordable home locations are as follows.
Affordable Housing Projects & Location
http://www.penangpropertytalk.com/affordable-housing/project-information-location/
Affordable housing projects proposed in Penang
Regardless of whether it is in good times or bad, the property sector of Malaysia will continue to receive demands. Even though, this demand had seen healthier pace, Malaysia is still a great place for property sector to remain on a competitive edge against other major industries, such as oil and gas and pharmaceutical.
With that being said, property developers are now more sensitive towards the call for affordable housing by the majority lower middle-income group of the citizens. Hence, the sector will be seeing a spike in affordable housing demands.
What’s more, developers are already responding to the government’s attention given to fulfill the needs of this sidelined segment of the Malaysian society.
On Feb 26, 2016, a report on the Malay Mail had highlighted that Penang State Government is ready to take on the national affordable housing schemes, PR1MA.
Penang offers to take on PR1MA applicants for state’s affordable home plan by Opalyn Mok
http://www.themalaymailonline.com/malaysia/article/penang-offers-to-take-on-pr1ma-applicants-for-state-affordable-home-plan
Based on this, i-Santorini will be another success story. With a brilliant marketing strategy and an unbeatable selling point of being at a prime location, i-Santorini is not just Mediterranean in Penang.
Its creative strategy will be the benchmark for other affordable housing initiatives that ensue, moving forward.
