The most expensive condominiums and penthouses in Penang

According to Saw, the super condos in Penang, built in the late 1990s to the early 2000s, were generally sized from 3,500 sq ft to 6,000 sq ft. They included projects such as Springtide Residences, Skyhome, Infinity, Harmony Residence, The Cove, and 1 Tanjong, all located in the Tanjung Bungah area.

In George Town, the schemes offering large-sized units include Silverton, The Mayfair, 11 Gurney, The Regency, East Tower of Gurney Paragon, and 8 Gurney (typical unit sizes of 5,000 sq ft and 10,000 sq ft).

As for the factors influencing the demand, Saw cites convenience, security and privacy, types of service available and view, among others.

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Branded residences are a relatively new concept in Penang; Marriott Residences will be the first. "Its impact on the local residential scene has been encouraging; the development benefits from the synergy of being next to an international upscale hotel brand (Marriott Hotel), where quality is assured in terms of its management and services," opines Saw.

The luxury segment in Penang will always be sought after as the pricing is still considered affordable and competitive compared to Hong Kong, Singapore and Phuket. This is also supported by the fact that Penang continues to be a preferred destination for many.

Saw highlights the most expensive condominium transactions in Penang Island between 2022 and 2024.

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Marriott Residences is the first Marriott Residences in Southeast Asia. Located along Gurney Drive, the project was completed in December 2023.

Marriott Residences is being developed by Taman Sri Bunga. It forms part of an integrated development rising above 55 floors. It houses a 5-star hotel with 223 guest rooms, 90 executive apartments, and 302 units of branded residences.

Marriott International will operate the hotel, executive apartments, and branded residences, offering concierge and à la carte services. The executive apartments are not available for sale.

The branded residences have built-up areas ranging from 850 sq ft to 6,932 sq ft, and selling prices start from RM1.2 million (US$256,135) per unit. The three-bedroom units facing the sea and east-facing units reportedly sold out before completion.

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Setia V Residences by SP Setia was completed in 2017. Located off Gurney Drive, the project is on 1.8-acre freehold land and features two towers of 48 and 31 floors, with 178 units ranging from 1,376 sq ft to 4,118 sq ft.

The built-up areas for units in Tower A and Tower B are from 2,624 sq ft to 4,118 sq ft, and from 1,376 sq ft to 1,869 sq ft respectively.

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Queens Residences Q2 is the second phase of Queens Residences, which forms part of Queens Waterfront development, a mixed-use development in Bayan Lepas. 

Completed in 2022, the development offers 450 condominium units with built-up sizes ranging from 950 sq ft to 1,650 sq ft. 

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Alila 2 is an exclusive residential development comprising two 33- and 34-storey towers, offering 270 luxurious condominium units.

Situated on 9.8 acres of freehold land in Tanjung Bungah, the development is designed to meet the stringent Green Building Index (GBI) standards.

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Quayside Condominium is the first phase of the Quayside Seafront Condominium development, which is situated in Seri Tanjung Pinang. 

Completed in 2013, the development comprises two high-rise and two low-rise towers with built-up areas ranging from 877 sq ft to 7,169 sq ft.

This development is part of Eastern & Oriental Berhad's (E&O) mixed-use development, including Straits Quay, Penang's first seafront retail marina.

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