When it comes to investment opportunities in the region, Singapore investors are turning their gaze further up north to Malaysia's Penang island, with Batu Ferringhi emerging as one of the most sought-after locations for luxury real estate. This picturesque beachfront destination, known for its laid-back charm, presents a compelling opportunity for those seeking a lucrative yet accessible investment beyond Singapore's competitive property market.
With an initial investment of RM130 million, New Wealth Development (NWD) Holdings acquired numerous freehold land banks at Batu Ferringhi Beach, where it will build its first-ever hospitality development.
"Batu Ferringhi is to Penang what Sentosa is to Singapore," says Sean Lim, managing partner of the Singapore-based investment group.
"When we bought the land in 2018, we felt that it would be viable for two reasons: one, for those who want to buy a beachfront property, Penang is an easier entry point; and two, those looking for such a property will also want to look at the healthcare infrastructure and, if they are raising their families there, the schools, too. Unlike any other beachfront locations, such as Phuket or Bali, Penang has all these amenities to offer." Situated at the northernmost point of Penang island, with spectacular views of the Andaman Sea, Batu Ferringhi is a popular holiday and weekend getaway destination for both tourists and residents alike. It is a short 15-minute drive from George Town, the island's main shopping and lifestyle belt, with medical facilities and international schools nearby, and within close proximity to Penang International Airport. And it is approximately a 90-minute flight away, or a scenic drive from Singapore.
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