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Aspen's Penang residential project 90% booked in first weekend

MALAYSIA developer Aspen (Group) Holdings on Tuesday announced that its latest residential project in Batu Kawan, Penang is 90 per cent booked after a unit selection event on Apr 20 and 21.

The project, Vivo Executive Apartment, has 1,530 units in total, and more than 1,300 units were booked during the event. The group expects the remaining units to be booked within two weeks, as there are more than 300 registrants on the waiting list to select a unit.

The gross development value for the project is 502.2 million ringgit, while the starting price for apartments in the project is 260,000 ringgit (S$84,490) for 730 square feet with one complimentary car park lot.

"Although it is priced affordably, we are confident that Vivo Executive Apartment can meet the needs and aspirations of its homeowners and it is a good deal for all," said M. Murly, president and group CEO of Aspen Group. "We are thrilled by the overwhelming response and will continue to provide the best service to ensure that we meet our customers' expectations."

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Vivo Executive Apartment sits on 268,330 sq ft of freehold land in Aspen Vision City and features the standard range of condominium communal facilities as well as a communal co-working space and a social kitchen.

The project is expected to commence construction in Q4 2019 and slated for completion in Q4 2023.