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Discussion Starter · #1 ·
Hi,

My wife and I are considering buying a unit at 10 Island Resort, Batu Ferringhi, Penang. The developer is 'Ivory'. Does anyone have any feedback, positive or negative, on either the developer or the development?

I understand that it's sister project, 1 Island Resort, has been cancelled and we are wondering if there are any issues with 10 Island Resort that we need to know about before parting with any money.

Thanks:)
 

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Hi,

My wife and I are considering buying a unit at 10 Island Resort, Batu Ferringhi, Penang. The developer is 'Ivory'. Does anyone have any feedback, positive or negative, on either the developer or the development?

I understand that it's sister project, 1 Island Resort, has been cancelled and we are wondering if there are any issues with 10 Island Resort that we need to know about before parting with any money.

Thanks:)
Hi there Rusty!

To be honest, project from Ivory, the workmanship is not that nice actually. Ive encountered a few Ivory projects for example Times Square Penang, their outer look is quite eye catching but when I entered the building I was like "OH GOSH!!" but I can say that if you are going for investment purpose, you should probably go for it. It is because Ivory developer is no doubt famous for building in a good location that may boom up the value of your house! Before that, you should probably search for Interior Design to renovate a few part of your house so that it may increase your house value.

I got my own Interior Designer and he has done a few of my houses here. He has done a tremendous job in my house and im satisfied with it. Perhaps if you wanted to search for an Interior Designer, I may intro to you =)
 

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Discussion Starter · #3 ·
Thanks,

We have just agreed to purchase a unit in 10 Island Resort and paid the deposit so I guess there is no going back now. For sure, if you would like to send me the details of your interior designer we will tell him our ideas and get a quote for consideration. OC is anticipated in Oct this year so now would be a good time to retain an interior designer.

PM me with details if you like.

Rgds

Rusty

Hi there Rusty!

To be honest, project from Ivory, the workmanship is not that nice actually. Ive encountered a few Ivory projects for example Times Square Penang, their outer look is quite eye catching but when I entered the building I was like "OH GOSH!!" but I can say that if you are going for investment purpose, you should probably go for it. It is because Ivory developer is no doubt famous for building in a good location that may boom up the value of your house! Before that, you should probably search for Interior Design to renovate a few part of your house so that it may increase your house value.

I got my own Interior Designer and he has done a few of my houses here. He has done a tremendous job in my house and im satisfied with it. Perhaps if you wanted to search for an Interior Designer, I may intro to you =)
 

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Hi Rusty, oh you have bought 10 Island Resort? What is the site progress now? The property looks great, I've seen the poster next to the road and it is impressive! I have a lady friend with a few of her Hong Kong friends who bought a total of 15units over there! How much is a unit over there now?
 

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Yes, it think the price is quite fair..as most of the properties around that area also cost somewhere between RM600 - RM700 now. My friend who bought a few units in Bayu Ferringhi Condominium which is situated next to Sri Sayang Service Apartment / Rasa Sayang Hotel also looking at selling the units there for about RM700/psf. He did some minor renovations for his units and they are satisfied with the designs too. The interior design company charges a very reasonable price, so his property gained its value.

If you are thinking of investing that place, i think you should do some renovation to it, simple and nice so that it is easier to rent out or sell it out. I'm just thinking of engaging the interior designer who renovated my friend's place too.. =)
 

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Hi,

My wife and I are considering buying a unit at 10 Island Resort, Batu Ferringhi, Penang. The developer is 'Ivory'. Does anyone have any feedback, positive or negative, on either the developer or the development?

I understand that it's sister project, 1 Island Resort, has been cancelled and we are wondering if there are any issues with 10 Island Resort that we need to know about before parting with any money.

Thanks:)
Hey Rusty...

So how was the purchasing going on? Everything going fine now? Ive bought Times Square last year and Ive sold it few months ago . Ive appointed a designer to renovate my house and they are very reliable. Looks simple and nice and the most important thing is the renovation really boost up my property value! Are you planning to live there or you plan just for investment?
 

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Discussion Starter · #8 ·
Apologies for the late reply,

Purchase is now 80% on stage payments. OC has slipped a couple of months to December which actually suits us as we are in the process of leaving Singapore and can now spend a couple of months with my wife's father in KL. We have an interior designer from Gotleib Road who seems fine but we just need to simplify his designs a bit. We are shipping a lot of our own furniture to Penang so don't needed fitted beds, wall boards etc. Just air con, fitted dry/wet kitchen and fitted wardrobes with some electrical bits and pieces and a steel security door and that should do it.
 

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I purchased an brand new apartment in the island Resort. It cost me 1.4MIllion Ringit ( 4 bed codo on floor 29) directly through Ivory Developer. I paid a lot of money for it and as time goes by I realise that I may have paid well over the odds. In other words the same developer offered the identical sized apartment on the exact same site to a friend of mine for half the price I bought mine on the proviso that he was to obtain a MM2H visa. This was never advised to me and when I purchased it I made it very clear that I intended Malaysia to be my second home. So I would like you to advise me on the following :- Â Is it a Malaysia requirement that all developers selling to foreign investors, that they advise them of the MM2H visa which will enable them to buy property at a \" locals\" rate ? Do I have any rights to obtain a refund for the difference from The developer once I have the MM2H ? Do I have any legal rights if I was not advised even though I had made it clear that I was investing in Malaysia as a second home ? I would very much appreciate any advice or guidance in the above. I feel I have been misled by the Developer as it is hardly an incentive for foreigners wanting to invest in Malaysia as a second home if they are unaware of the visa that would help them get discount. Ivory are not the friendliest or the most professional . You HAVE to use their solicitor ( no quote given ) and they were very expensive. When I disputed their legal bill I was merely ignored. I found out through the bank I was using in Penang that Ivory use the solicitor as they get back handers and are family links to Ivory. Go figure. I am hoping my apartment will look good. I have been told it is complete and that end of this month they will contact me to advise key collection. I am not sure what deal you arranged internally but I have to sort kitchen . Very strange. One pays a large amount of money and they have to source their own kitchen . Amazing . I am totally not impressed. They take your money and once they have you notice the massive shift in the " customer service " . Not what I expected.
 

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I have a short vacation in Island Resort last week. Love the unobstructed seaview, the pool and the facility. My friend who is the house owner intended to rent it out. It's high floor with 2550 s/f, 4+1 bedrooms with attached bathroom each. Furniture ready with air-cons, sofa, bed, kitchen cabinet, etc. If you know anyone interested, you may call/text him at 0165519730.
 

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Hi Rusty,

I hope you're well and enjoying you life in Penang.

I came across your thread by accident as I am trying to find out if 10 Island Resort is a good investment. My wife and I are thinking of purchasing a 2500sft unit so we would greatly appreciate any opinions you may have.

I can see the average price for these are being advertised at 1.4m which seems pretty pricey. Are they actually going for this?

Hope to hear from you soon.

And thanks for any information you may have.

Macbook52
 

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Discussion Starter · #13 ·
Hi Macbook,

The short answer to your question is 'it depends.' 10 Island Resort is now old enough for the Developers guarantees to have expired. So, if you are buying a unit that someone has done nothing with, you will undoubtedly inherit a few developers faults that you will have to pay to rectify.

The interior finish to the units by Ivory is, quite frankly, a disgrace and we had to have all our internal walls replastered. Similarly the exterior paint has obviously been diluted to the point where they may as well not have bothered.

That said, the units are in a great location, have full sea views and if renovated sensibly should make a decent profit should you ever wish to sell.

1.4 million is typical of the price I have heard for an un-renovated unit. Budget about 250k on top of that to make it nice and fix faults.

Be very careful which interior designer you use as they vary in quality, reliability and integrity.
 
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