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Continue Reading ⋅ 30 January 2023
The Golden Triangle project is developed by GSV Development Sdn Bhd. It is a mixed development with both residential and commercial components, located along Jalan Paya Terubong, off Jalan Dato Ismail Hashim in Relau, Penang.
The Golden Triangle project was among the earlier mixed developments that helped transform the once laid-back Sungai Ara township into a bustling area in recent years.
There were only a few residences in the area that offered a modern lifestyle concept. So, when Golden Triangle entered the market in 2011, it was met with good response and units were sold out soon after.
The project was completed 3 years later. Today, the project stands proud as a business hub, with food and beverage outlets, home furnishing shops, convenience stores, offices, and more, all operating at the commercial podium.
Many believed that this project sparked the transformation of the once-quiet Sungai Ara township into a bustling lifestyle destination. It was a success story for the developer. Following the success of Golden Triangle, GSV Development presented the second chapter in Sungai Ara, named Golden Triangle 2.
Address: Off Jalan Dato Ismail Hashim, Relau, 11900 Penang
Property Type: Mixed (Condominium & Shoplots)
Land Title: Residential for the condominium
No. of Blocks: 2
No. of Storeys: 26
Total Units: 672 condo units & 170 shoplots
Tenure: Freehold
Sales Gallery: GSV Development Sdn Bhd, 72-2-36, Arena Curve, Jalab Mahsuri, 11950 Bayan Lepas, Penang
Year of Completion: 2014
Built-up Area:
- Condo: 1,165 sq ft – 1,315 sq ft
- Shop lots: From 1,800 sq ft
Facilities:
- Barbeque area
- Gymnasium
- Children’s playground
- Community hall
- Basketball court
- Swimming pool
- Covered parking lots
Launch Price: From RM387,000
Maintenance Fee: RM0.25 psf
Project Details
When it was launched in 2011, Golden Triangle received a positive response as it became the talk of the town, with buyers queueing up as early as a day before the launch.
The first phase of Golden Triangle features a high-rise condominium with 672 units, and 170 units of shoplots.
The built-up area for the condominium units are from 1,165 sq ft to 1,315 sq ft, while the shoplots have built-up areas from 1,800 sq ft onwards. The units were priced from RM387,000.
Golden Triangle Condominium offers 4 layouts with 3+1 bedrooms and 2 bathrooms each:
- Type A: 1,260 sq ft
- Type B: 1,165 sq ft
- Type C: 1,315 sq ft
- Type D: 1,270 sq ft
Residents of Golden Triangle will be able to enjoy facilities including barbeque area, gymnasium, children’s playground, community hall, basketball court, covered parking lots, and swimming pool.
Completed ahead of schedule in 2014, Golden Triangle serves as another testimonial of GSV’s commitment to exceeding customer expectations. Golden Triangle has also recorded an impressive 100% appreciation in value since its launch.
GSV Development Sdn Bhd was incorporated in 2010, and therefore, there isn’t many projects from them just yet. So far, the Golden Triangle development is their only project, and it was completed in 2019.
Key features of Golden Triangle:
- Excellent connectivity via a 6-lane access road
- Connected through first-class infrastructure such as the Penang Bridge and Second Penang Bridge
- Close to key destinations including Georgetown, Penang International Airport, Bayan Lepas FTZ, and shopping malls
- Close to the SPICE Arena, an events and convention centre
- Easy accessibility to local and international schools
Location
Golden Triangle sits at one of Penang’s key connection points. It fronts a major access road that connects Penang to Paya Terubong, Balik Pulau, and Sungai Ara.
The development is easily accessible via Jalan Dato Ismail Hashim, which leads to Jalan Tun Dr Awang that is connected to Tun Dr. Lim Chong Eu Expressway.
Its strategic location allows for swift ins and outs to a selection of amenities, including the Bukit Jambul Country Club, SPICE Arena, SPICE Aquatic Centre, D’Piazza Mall, Bayan Lepas FTZ, both the Penang Bridges, Penang International Airport, major hypermarkets, hospitals, and schools.
The aquatic centre is complemented by a world-class convention centre, hotel, retail, F&B outlets; spread over 25 acres upon its completion.
Golden Triangle is positioned in the midst of 3 essential locations – Sungai Ara (a bustling residential area), Relau (a natural green lung) and Bayan Lepas (Penang’s vibrant international free-trade zone).
Another distinctive feature of Golden Triangle enjoys is its green surroundings, as it is located directly opposite 1.9 acres of open space.
The development also is also situated in a new growth area that gives residents a place to call home, and at the same time, shop for daily needs without leaving home. This way, the businesses will also enjoy a ready catchment of potential customers.
For families with children, there are a number of schools in the vicinity, including SRK Seri Relau, Fairview International School, SRK Min Sin, SK Sungai Ara, SJK (C) Chong Cheng Primary School, and INTI International College.
Now a thriving lifestyle and business hub, Golden Triangle is recognised as a landmark in Sungai Ara.
Accessibility
- Jalan Dato Ismail Hashim
- Jalan Tun Dr Awang
- Tun Dr. Lim Chong Eu Expressway
Education
- SRK Seri Relau
- SK Sungai Ara
- SRK Min Sin
- SJK (C) Aik Hwa
- SMK Chung Hwa
- SJK (C) Chong Cheng
- INTI International College
- Fairview International School
Medical Care
- Pantai Mutiara Hospital
Shopping
- D’Piazza Mall
- Sunshine Square
- Giant Hypermarket
Recreation
- Bukit Jambul Complex
- SPICE Arena
- SPICE Aquatic Centre
Analysis
GSV Development Sdn Bhd followed up the success of its maiden undertaking, Golden Triangle in Sungai Ara, Penang, by introducing Golden Triangle 2, which has the similar integrated commercial and residential concept on an adjacent plot.
Launched in the middle of 2015, it is the latest in a slew of developments by various companies in this densely populated area near the island’s southeast.
Prices for properties here are comparatively more affordable than those in more prestigious locales. This is a plus point that has drawn Penangites’ attention.
A search on PropertyGuru in January 2021 shows that a 1,165 sq ft unit listed for sale is from RM450,000 to RM495,000, while rental is from RM1,100 to RM1,500 per month. For units purchased at RM460,000, and rented out at RM1,300 per month, the gross rental yield would be 3.39% per annum.
Here’s a look at residential properties in Penang.
|
Project |
Land Tenure |
Property Type |
Completion |
Built-up |
Approximate Launch Price |
|
Golden Triangle by GSV Development |
Freehold |
Condominium |
2017 |
1,165 sq ft – 1,315 sq ft
|
From RM387,000 |
|
Freehold |
Condominium |
2019 |
1,161 sq ft & 1,238 sq ft |
From RM600,000 |
|
|
Taman Desa Relau 2 by AM-EL Group |
Freehold |
Condominium |
1999 |
700 sq ft |
From RM245,000 |
|
Freehold |
Serviced Residence |
2021 |
From 1,000 sq ft |
From RM475,000 |
|
|
Vista Condominium by Ideal Property Group |
Freehold |
Condominium |
1996 |
700 sq ft |
From RM250,000 |
|
Villa Kejora |
Freehold |
Apartment |
1999 |
700 sq ft |
From RM160,000 |
Summary
GSV Development Sdn Bhd is incorporated in 2010 and they emphasise on quality, innovation, and timely delivery. The property market in Penang will remain challenging in 2021, and it will still be a buyer’s market.
According to the PropertyGuru Malaysia Property Market Index Q4 2020, Penang registered the smallest change in asking prices among the 4 key regions (KL, Selangor, Penang, Johor) in the country, with a slight dip of 0.64% QoQ and 1.30% YoY.
The relative stability of Penang prices in the current climate marks it as potential safe haven for those who wish to preserve wealth through property investment.
The top 5 areas with the highest median asking price in Penang was Georgetown, Bayan Lepas, Barat Daya, Butterworth, and Bukit Mertajam.
Here are estimated loan figures for a Golden Triangle Condominium unit priced at RM460,000.
- LTV / margin of finance: 90%
- Down payment (10%): RM46,000
- Loan amount: RM414,000
- Loan term: 35 years
- Interest rate: 3.2%
- Monthly repayment: RM1,640
- Approximate required gross annual income: RM66,000*
* Assumptions: You have no other monthly debt obligations, and 30% of gross income is spent on the home loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
The figures above are derived from the calculators below. Use them to input the numbers that work best for you:
Home loan basics: Know your Debt Service Ratio (DSR)!
DSR is a method used by banks in Malaysia to calculate whether you can afford the loan you’re applying for. To calculate your Debt Service Ratio (DSR), refer to the FREE PropertyGuru Home Loan Pre-Approval tool. It has a 99.9% accuracy, which greatly helps in avoiding loan rejections.
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