The Rise

Condominium
Jalan S.P. Chelliah, 10100 Georgetown, Penang
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Developer

Zubicon Sdn Bhd
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Developer of The Rise, Zubicon Sdn Bhd

Facilities

Multi storey car park
Rooftop garden
Futsal court
Badminton court
Community hall
Kindergarten
Linear park
Green space

The Rise in Georgetown, Penang is one of the Penang State Government’s efforts in the provision of affordable housing. Formerly known as Chelliah Park City, the housing scheme is a compact, mixed development designed with the concept of sustainability and self-containment in mind.

The development which spans a land area of 11 acres will be equipped with public facilities worth RM25 million, including a bus terminal, bicycle lanes, pedestrian walkways, a surau, a linear park, a greenspace, as well as the beautification of Sungai Pinang.

Residences at The Rise consist of 3 blocks of 43 storeys high towers which are able to sustain 1,900 condominium units at a variety of sizes and prices to meet the requirements of affordable while also comfortable homes. Prices range from lower medium to medium cost, with RM72,500 for the 700 sf units, RM200,000 for the 800 sf units, RM300,000 for the 900 sf units and RM400,000 for the largest, 1,000 sf units.

Residents of The Rise will be able to enjoy facilities no different from a number of condominium developments outside the affordable housing scheme in Penang, such as a rooftop garden, badminton court, futsal court, community hall and even a kindergarten to cater to working parents with young children, all on top of the public linear park and green space.

The Rise is conveniently situated in the city centre with many shops and eateries around the area. The property is also just minutes away from shopping malls such as Penang Times Square and Prangin mall at Komtar. Located within convenient access to The Rise are also major roads such as Jalan Dato Keramat, Jalan Sungai Pinang and others which can lead to Jalan Sultan Azlan Shah and Tun Dr. Lim Chong Eu Expressway, connecting to Bayan Lepas and the first Penang Bridge.

With its location within the city centre and affordability, the project has been highly anticipated. Procuring a unit is also not an easy task as buyers have to go through a balloting process, which is the only method that the Penang State Government is selling the units, on top of the limited number of each type of unit. There are only 80 units of the 1,000 sf type, 165 units of the 900 sf type, 885 units of the 800 sf type and 770 units of the 700 sf type.

However, given the soaring prices of homes on the island, it might be worth trying your luck and if you are fortunate enough, you might just end up with a home that is well worth its price.

24-hour
Security
No
Pet Friendly
No
Eco Friendly (GBI)
Nearby Restaurants


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Today
(Under Construction)
2018
(Year of Completion)
  • RM 72,500 - RM 220,000
  • NIL
  • NIL
  • RM60/month
Built Up
700 sq ft - 1,000 sq ft
Land Title
Residential
Tenure
Leasehold
Total Blocks
3
Total Storey
43
Total Units
1900
Parking
Min. 1

Nearby Amenities

Did you know?

Check out the value of surrounding upcoming properties to make the best buying decision.

Property Name Year of Completion Launch Price Ad Selling Price
The Rise 2018 RM 72,500 - RM 220,000 NIL
The Wave 2017 From RM 635,600 NIL
Tropicana 218 Macalister 2018 From RM 520,000 NIL
Beacon Executive Suites 2019 From RM 686,000 NIL
Sandiland Foreshore 2020 RM 72,500 - RM 400,000 RM 770,000 - RM 870,000
RM 575 psf - RM 650 psf
18 For Sale in Sandiland Foreshore 7 For Rent in Sandiland Foreshore

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 (%)
The Rise 2018 NIL NIL NIL NIL
86 Avenue Residences 2014 From RM 760,000 From RM 1,600 NIL NIL
Hexagon Tech Park 2013 From RM 288,400 From RM 1,540 NIL NIL
Residence 21 2012 RM 2,830,000 - RM 4,200,000 NIL NIL NIL
Lavender Park Jan 2011 RM 330,000 - RM 340,000
RM 412 psf - RM 485 psf
RM 800 - RM 800 NIL 3.76 %
Summer Place 2011 RM 668,000 - RM 1,100,000
RM 614 psf - RM 785 psf
RM 1,500 - RM 1,500 RM 685,000 (RM 628 psf) 3.05 %
Birch The Regency 2009 RM 600,000 - RM 3,300,000
RM 600 psf - RM 900 psf
RM 1,400 - RM 1,400 RM 588,333 (RM 579 psf) 1.48 %
2 For Sale in Hexagon Tech Park 1 For Rent in Hexagon Tech Park 3 For Sale in Lavender Park 4 For Rent in Lavender Park 31 For Sale in Summer Place 38 For Rent in Summer Place 13 For Sale in Birch The Regency 22 For Rent in Birch The Regency

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 - - RM 855 psf
500 - 1,000 sq ft RM 370 psf - RM 967 psf
1,000 - 1,500 sq ft RM 645 psf - -
1,500 - 2,500 sq ft RM 604 psf - RM 680 psf
2,500 - 4,000 sq ft - RM 387 psf RM 456 psf
4,000 sq ft and above - - RM 447 psf
Avg Recent Transactions
Last 100 Recent Transactions Recorded
RM 351 psf
Non Landed Properties
RM 570 psf
Landed Properties
RM 794 psf
Commercial Properties

Note:

  • This price analysis is to be used only as a reference. The accuracy of its data will improve over time as more data is collected.
  • 'Nearby distance' is based on 1 kilometre
  • Average Rental Yield takes into account an estimated amount of maintenance fees
  • My Affordability Logo hong leong2

    Down Payment (10%) RM 7,250
    Loan Amount ( 90 %) RM 65,250
    Tenure Years 35 Years
    Interest Rate 4.85%
    Others (Estimation) RM 10,000
    Apply with Hong Leong Bank now
    Monthly Installment
    RM 3,000 ±
    Mortgage Provided By Hong Leong Bank
    Maintenance Fee
    RM 60 ±
    RM 60.0 psf (700 sq ft)
    Total Monthly Expenses
    RM 3,000 ±

    Disclaimer

    The information shown is indicative and for illustration only. HLB 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 HLB reserves the right to approve or reject such applications without assigning any reason therefore.

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