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Sunshine Tower is a development of various commercial properties within the fast-emerging town of Farlim, Penang. The ambitious project will see the integration of 300 retail shop lots within a 9-storey retail podium, and a trinity of 40-storey tall towers with 270 units of serviced residences, a collection of 144 SoHo units and a business hotel able to accommodate 320 rooms. The entire development will span 9 acres of commercial land, transforming the skyline of the town upon its scheduled completion in 2019.
The developers behind the project, Crimson Omega Sdn Bhd, is a wholly-owned subsidiary of Suiwah Corporation Berhad, which has more than 50 years of experience in the supermarket and retail scene in Penang through their line of Sunshine supermarkets and departmental stores. Banking on Sunshine’s established name and reputation as a friendly neighbourhood store in the Air Itam area, the project’s retail podium will be anchored by a Sunshine supermarket, which is one of the main features set to draw public interest to the idea of convenient living in Sunshine Tower.
Other amenities expected to be found in the retail phase of Sunshine Tower include a multi-hall cineplex, wellness centre, as well as an array of food and beverages outlets and much more. In anticipation of the high volume of traffic and people, the developer has planned for parking facilities which can provide 3,500 parking bays.
Sunshine Tower’s strategic location just off Jalan Thean Teik is also an attractive feature for the many working Penangites who want to live close enough to the city, Bayan Lepas and have access to the mainland without the need to fork out tons of money for a mid-range condominium in other more central parts of the city. Highways close to the development include Lebuhraya Thean Teik, and Lebuhraya Tun Dr. Lim Chong Eu, which are connected to the property via major roads such as Jalan Paya Terubong. With that, Georgetown and the first Penang bridge is just a 20-minute drive from the development while Bayan Lepas is about 30 minutes away.
There are talks of constructing 2 flyovers which will lead directly to Sunshine Tower from Jalan Thean Teik as well as many other exits heading onto the surrounding roads such as Jalan Pisang Embun, Jalan Pisang Rastali, and Lintang Kampung Melayu.
With the bringing together of such elements, the development is set to make convenience a lifestyle rather than just a part of your grocery needs or daily commute. Apart from that, Sunshine Tower is also situated in a highly populated residential neighbourhood where there is an estimated population catchment of more than 200,000. Hence, the development may also be an ideal choice of investment should investors seek properties with the potential of encouraging rental yields and an appreciating value.
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Did you know?
Check out the value of surrounding recently completed properties to make the best buying decision.
Property Name | Year of Completion | Ad Selling Price | Ad Rental Price | Avg Transacted Price | Avg Rental Yield (%) |
---|---|---|---|---|---|
Sunshine Tower | 2019 |
RM530,000
-
RM530,000
RM 504 psf - RM 504 psf |
NIL | NIL | NIL |
Quattro Zen | 2015 |
RM950,000
-
RM1,000,000
RM 330 psf - RM 374 psf |
NIL | NIL | NIL |
Shineville Park | 2014 |
RM480,000
-
RM1,300,000
RM 217 psf - RM 823 psf |
RM750 - RM750 | NIL | 1.65 % |
All Seasons Park | June 2013 |
RM428,000
-
RM1,250,000
RM 429 psf - RM 934 psf |
RM1,000 - RM1,000 | NIL | 2.79 % |
Melody Homes | Dec 2012 |
RM289,000
-
RM430,000
RM 412 psf - RM 614 psf |
RM850 - RM850 | NIL | 3.59 % |
Boulevard Condominium | 2011 |
RM480,000
-
RM730,000
RM 512 psf - RM 715 psf |
RM1,200 - RM1,200 | NIL | 3.07 % |
Sri Kristal | 2009 |
RM360,000
-
RM480,000
RM 396 psf - RM 571 psf |
RM1,000 - RM1,000 | NIL | 2.81 % |
Did you know?
Check out the past transacted prices of this neighbourhood to make the best buying decision.
Non-Landed | Landed | Commercial | |
---|---|---|---|
0 - 500 SQ. FT | - | - | - |
500 - 1,000 SQ. FT | RM 563 psf | RM 244,500 psf | - |
1,000 - 1,500 SQ. FT | RM 524 psf | - | RM 515 psf |
1,500 - 2,500 SQ. FT | RM 340 psf | RM 600,000 psf | - |
2,500 - 4,000 SQ. FT | - | RM 986,667 psf | - |
4,000 SQ. FT and above | - | - | - |
Note:
Down Payment (10%) | RM 50,000 |
Loan Amount ( 90 %) | RM 450,000 |
Tenure Years | 35 Years |
Interest Rate | 4.85% |
Others (Estimation) | RM 10,000 |
Disclaimer
The information shown is indicative and for illustration only. It does not guarantee the accuracy of the calculation and accepts no liability for any inaccuracies or omissions. The above does not constitute an offer of credit nor does it guarantee that the credit facility applied for will be approved. All applications for financing are subject to credit evaluation and approval and it reserves the right to approve or reject such applications without assigning any reason therefore.
All interest rates shown are indicative according to criteria provided by financial service providers and this is an estimated figure only do not constitute a guaranteed figure. Please consult your respective financial provider for the exact interest rate.
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