Market Analysis I.

Gurney Paragon

Gurney Paragon is set to be the new premier shopping, entertainment, office and luxury residential address in Penang. It is located on Gurney Drive, a beachfront esplanade that enjoys stunning ocean view and cool sea breezes. But most uniquely, it is built around and inspired by the former St. Josephs Novitiate- converted into St. Jo, an area for stylish restaurants and cafes steeped in the architecture of Penang heritage. Gurney Drive is one of the upmarket areas on Penang Island. However, with the rising population at this particular area, it will definitely aggravate the existing heavy traffic flow problem. Thus, Persiaran Gurney which is one of the Penangs tourist attractions is often packed with cars, particularly on weekends and public holidays. With the availability of two car parks per unit house, this problem might not even disturb the parking lot problem to the resident. Residents at Gurney Paragon may find it difficult to enter and exit the premise, and the situation could even worsen once the second phase of the mixed development which comprises a lifestyle shopping mall is completed. But then again, the local government had proposed to build the Penang Outer Ring Road (PORR), an elevated expressway which will connects Gelugor (near Penang Bridge) to Tanjung Bungah on Penang Island with intention to cut down the travelling time and solve the congestion problem. Pricing wise, Gurney Paragons value is comparable to that of similar development around the Gurney Drive and Pulau Tikus areas, within RM1.4mil and above. Gurney Paragon is undeniable the only luxury condo built under a mixed development plan with easy access to fine restaurants and shopping malls.

II.

The Straits Quay

Straits Quay is very welcomed by the locals and the tourists as it offers plenty of strolling entertainment frm jesters, clowns, stilt-walkers and imps and fairies. And there are shows held for the children as well as festivals and parties to be held here. For example, the last New Year Eve Celebration (2011) at Straits Quay showcased heart-pumpinh action with light shows, street performers, the High Society band, magical fire dance and LED Poi Maori traditional dance. The night was ended with a bang great spin from the renowned DJ Joey G and fireworks as it hit mid night of New Year Eve. There are several more events in plan from time to time. The retail mall at Straits Quay is more like a leisure and entertainment center that hosts fine and established F&B outlets with several branded boutiques instead of our typical shopping mall that hosts almost everything under one roof. Straits Quay is part of the first phase that consists of 240 acres out of the 1000 acres of master planned waterfront community in Seri Tanjung Pinang. Besides Straits Quay, other developments have already in shape including seafront villas, courtyard homes and semidetached homes. The second phase of the development spans over 740 acres and will offer a mix of luxury residences and world-class leisure and commercial facilities.