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Marina Bay, Tanjung Tokong

Marina Bay (also known as Marina Bay Condominium) is a high rise condominium which was developed by Hunza Properties. This condo which consists of three 20-storey blocks with a total of 449 units has built-up areas that ranges between 1,100 sf and 3,825 sf. This leasehold condo was completed in two phases, the first in 1996 and the subsequent phase in 2001.

Marina Bay is located at Jalan Tanjung Tokong in the Northern part of Penang Island. This condo is easily accessible via Persiaran Gurney, Jalan Bagan Jermal, Jalan Mount Erskine, Kelawei Road and many others. It is also near to amenities such as schools and institution (Penang Chinese Girls’ High School, St Nicholas School), hospitals (Penang Adventist Hospital, Gleneagles Medical Centre, Tanjung Medical Centre), shopping complexes (Island Plaza, Gurney Plaza, One Stop Midlands Park Centre), and food outlets.

Property Details

  • Name: Marina Bay (also known as Marina Bay Condominium)
  • Address: 76, 78 and 80, Jalan Tanjung Tokong, 10470 Penang
  • Developer: Hunza Properties
  • Completion Date
    • Block A & C: 1996
    • Block B: 2001
  • Type: Condominium
  • Tenure: Leasehold
  • No. of Blocks: 3
  • No. of Storey: 20
  • No. of Units: 449
  • Maintenance Fee: RM0.16 psf
  • Subsale Price: RM630,000 - RM1,300,000
  • Rental: RM2,000 - RM5,500

Layouts

  • Standard unit
    • 436 units
    • Block A & C: 1,100 sf to 1,300 sf
    • Block B: 1,600 sf to 2,000 sf
  • Penthouse unit
    • 23 units
    • Block A & C: 2,000 sf onwards
    • Block B: 3,154 sf to 3,825 sf

Facilities

  • 24-hour security
  • Landscaped garden
  • Games room
  • Wading pool
  • Swimming pool
  • Gymnasium
  • Sauna
  • Jacuzzi
  • Tennis court
  • Children’s playground
  • BBQ pit

Market Trends

Analysis

A developer’s reputation is often one of the most essential considerations when a potential property buyer scouts for a suitable property. Being built by one of Penang’s reputable developers, Hunza Properties has more than 10 years of proven track record in property development. So, in this sense, potential property buyers would have the assurance that this particular condo was built by a reputable developer.

Even though Marina Bay was built by a reputable property developer, there were complaints that the condo comes with unsatisfactory build quality. Some property owners have reported of crack lines within their unit. Though the crack lines were not severe, potential property buyers are to be reminded that they might need to fork out extra money just to rectify the quality issue.

Apart from that, there were also claims made by some property owners of Block B, stating that their units were infested with termites. Although the cause of termites’ infestation could not be confirmed by the condo authorities, it was believed that it was due to the earlier mentioned factor of poor build quality.

These days, potential property buyers often scout for freehold properties. As Marina Bay is a leasehold development, it appears to be less favorable among property buyers. When compared with other developments within the same area, the leasehold status is indeed a drawback to this condo as the other nearby properties is mostly freehold developments.

In terms of the condo’s location, Marina Bay is located at one of the prime locations on Penang Island. Nestled in the Tanjung Tokong neighborhood, this condo is near to Gurney Drive and Batu Ferringhi, which are popular tourist spots. In other words, there could be demand for short to mid term stay at this condo due to its close proximity to the above mentioned tourist destinations.

However, one needs to take note that Jalan Tanjung Tokong and the nearby roads are often packed with cars particularly on weekends and public holidays. Thus, traffic congestion might be an issue to certain potential property buyers as they need to go through the heavy traffic flow before they get to their destination.

Even though this condo is located at an area with moderate number of population, Marina Bay is considered to be a high density development. With a total of 10 units per floor for the standard units at Block A and B. Although the condo’s location is a plus point, its density status would be an issue to certain property buyers due to privacy concerns.

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