Friday, May 30, 2014

800sf CONDOMINIUM for just RM299,000 - IN PENANG !!!

TRI PINNACLE- Located in the premier part of town, residents of this urban housing will be very fortunate to able to have access to many conveniences within a short driving distance. Highly sought after, properties located at Tanjung Tokong cater for those looking for the best. TRI-Pinnacle is perfect for those who seek a more relaxed living away from the hustle and bustle of the city and still be spoiled with numerous amenities close by to fulfil every resident's social needs.

This was announced as Penang state’s first privately-initiated affordable housing project. Not much details were available except that the project is in Mount Erskine in Tanjung Tokong. However, with a price of just RM299,000, I can safely say that the number of registrants would far outnumber the total units available. Per sf basis, it is at RM373. For a condo, within Penang island and in Tanjung Tokong, I seriously think there is no such deals available even today. Oh yeah, I believe these condos should be under the moratorium whereby buyers cannot sell their unit for 10 years. This was announced by the state exco for housing, Jagdeep Singh Deo a few months ago. 

Not to be forgotten, there’s also another 390 units of low-medium cost apartments of 650sf priced at just RM72,500 each. Actually if you are family members and you happen to be able to get a unit side by side, thats just RM145,000 for a total of 1,300 sf! The GDV for this whole project is estimated at RM400 million and is expected to comment in the third quarter of this year. I have never heard of this developer, Aspen Group but MBSB is giving them a financial facility of RM95.5 million. Thus I think it should be pretty stable and safe.

Project name is called Tri-Pinnacle. Since Pinnacle is used to describe this project, you can be sure it is somewhere near highest point of an area where it is built. Tri may simply means there are three towers or blocks. I have never been to the site but normally names may give away their position. These houses are only opened to registered approved buyers by the State’s Affordable Housing Department. If you are interested, you may visit Aspen Group’s website here:

Updates from the Developer ASPEN GROUP:

Dear Valued Customers,

Thank you for your interest in our Affordable Condominium project- Tri Pinnacle.

The Tri Pinnacle project, the first Private Initiative Affordable Housing Scheme, will be open only to eligible buyers registered and approved by the State’s Housing Department. The eligibility criteria is bound by the conditions, requirements and regulations stipulated by the State Government. The public is encouraged to log in to to understand the stipulated requirements and regulations.

We wish to highlight that we are currently undergoing an introduction and awareness campaign of this Affordable Condominium to all aspiring buyers. We hope that through this campaign, all eligible home buyers will be given equal opportunity to buy their dream homes at a reasonable price, prime location and unmatched quality.

However, we regret that some inaccurate information has been spread around and this has caused confusion among many genuine first time home buyers. We encourage all interested home buyers to log in to to refer the requirements stipulated by the State Government. You can also register with us at so that we can keep you posted on the status of this project. You can also call us at 04-227 5000 or visit our office to get accurate and correct information and details.

Thank you.

The Management of Aspen Group

Hmm...really? TAKE SERIOUS NOTE you all out there....faster get the information on how to register and the criteria to be eligible....ACT FAST !!!

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