New Condo Launches in Penang 2025

Penang’s property market continues to attract homebuyers and investors. In 2025, several new condo projects are set to launch, offering a variety of choices from affordable living to high-end luxury homes. This guide will take you through the upcoming developments, introduce key developers, and explain the current trends shaping Penang’s real estate market. Whether you’re buying your first home or making an investment, Penang has plenty of opportunities.

What's New in Penang Condos for 2025?

The year 2025 brings exciting changes to Penang’s residential property market, especially in the condo sector. Here are some of the key new launches and major projects to look out for:

Eight & Eight Condominium, Tanjung Tokong (UDA Land Penang):

• Status: Confirmed new launch in 2025.
• Location: Tanjung Tokong, a prime and highly sought-after address on Penang Island.
• Details: Comprising 600 units across two towers, offering versatile layouts from 885 sq. ft. to 1,140 sq. ft., including single, dual, and triple key units.
• Pricing: Expected to start from RM 622,465 to RM 952,571.
• Completion: Estimated by 2027.

SENZE @ PICC, Bayan Lepas (Hunza Properties Penang):

• Status: Successfully launched in early 2025.
• Location: Part of the Penang International Commercial City (PICC) in Bayan Lepas, strategically positioned near the Free Industrial Zone (FIZ) and future Penang LRT stations.
• Details: Features 1,680 fully furnished serviced residences across three towers, with sizes ranging from 915 sq. ft. to 1,561 sq. ft.
• Pricing: Starting from approximately MYR 1.2 Million.
• Completion: Targeted for Q1 2028. This development is set to redefine luxury living and connectivity in the bustling Bayan Lepas area.

G'Vinton Executive Residences & Suites, George Town (GSD Land Penang - Sunrich Capital Sdn. Bhd.):

• Status: Held an exclusive pre-launch event and signing ceremony in April 2025, confirming its status as a new 2025 launch.
• Location: Situated on Jalan Sultan Ahmad Shah (Northam Road), George Town, offering prime city living.
• Details: A freehold serviced apartment project with 336 units, unit sizes from 387 sq. ft. to 1,323 sq. ft., catering to various needs from compact studios to larger residences.
• Pricing: Indicative prices start from RM500,000 onwards.
• Completion: Estimated for Q4 2027.

Amaanee Residences @ Wakaf Seetee Aisah, Seberang Jaya (UDA Land Penang)

• Status: Ongoing construction, launched prior to 2025
• Location: Taman Wakaf Setee Aisah, Seberang Jaya, 13500 Permatang Pauh, Penang. Strategically located next to the North-South Expressway, a few minutes' drive from Penang Bridge and Butterworth Outer Ring Road.
• Details: 40-storey condominium project, Units from 950 sq. ft. and 1,100 sq. ft. (3 bedrooms, 2 bathrooms), Total 422 residential units and Malay Reserved
• Price: From RM299,000 onwards (units from 950 sq. ft.). Some listings show prices up to RM365,000 for similar sized units.
• Expected Completion: Q1 2027.

Aston Acacia @ Bukit Mertajam (Hua Yang Berhad Penang)

• Status: Ongoing construction, launched prior to 2025
• Location: Along Persiaran Aston Indah, Bukit Mertajam, Penang. Strategically located in the heart of Bukit Mertajam, adjacent to Jit Sin Independent High School, and a few minutes' drive to The Summit Bukit Mertajam. Easy access to the North-South
• Expressway.
• Details: Serviced apartments (mixed development including shop offices), 2 blocks of 33-storey high-rise towers, Total 622 serviced apartment units and 38 shop offices, Freehold
• Price: From RM258,000 onwards. Current listings show prices ranging from approximately RM355,000 to RM540,000, depending on unit size and configuration.
• Expected Completion: May 2025 (Tower A), Overall project completion expected by 2025

Terraces Condominium, Bukit Jambul (IJM Land Penang)

• Status: Ongoing construction, launched prior to 2025
• Location: Lebuh Bukit Jambul, 11900, Penang. Strategically located on 9.32 acres of land next to INTI International College. Minutes away from Penang Bridge and Penang Second Bridge.
• Details: High-rise residential condominium, 34-storey condominium tower, Total 410 residential units, Leasehold 99 years
• Price: From RM627,000 onwards. Price per square foot (PSF) ranges from RM547 to RM610.
• Expected Completion: 2025 (conflicting reports mention Q3 2025 or 2024, but the completion is still stated as 2025 in recent listings)

What's Driving the Penang Property Market in 2025?

The property outlook in Penang for 2025 looks cautiously optimistic, driven by several important factors:

Infrastructure Development:

• Penang LRT Mutiara Line: The construction of this public transport project will start in Q3 2025, with large-scale work expected by Q4 2026. This will improve island-wide connectivity and is likely to increase property values along the LRT route.
• Penang International Airport (PIA) Expansion: Ongoing upgrades to the airport will make it easier for people and businesses to access Penang, which will positively impact the property market.
• Silicon Island (Penang South Islands): This major long-term development, with reclamation efforts set for completion by 2032, will introduce a large residential area with around 20,000 units, including condos and serviced apartments. It will influence future property supply and demand.

Economic Growth: Penang's strong industrial sector, particularly in manufacturing and high-tech industries, continues to attract talent and investment, maintaining steady demand for residential properties.

Government Initiatives:

• MADANIHome Ownership Campaign (MOC) 1.0: Launched by the Penang State Housing Board from June 2025 to May 2026, this initiative encourages homeownership. A highlight is the new affordable housing category, Rumah MutiaraKu Type D (RMKu D), offering homes up to RM400,000 (with variations for the island and mainland) that feature at least 950 sq. ft., 4 bedrooms, and 3 bathrooms. This campaign, along with developer incentives, will help boost the affordable housing market.
• Urban Renewal Projects: The Hunza Properties urban renewal project at Mahsuri Flats in Bayan Baru is focused on improving housing for current residents and later adding new units for sale, showing the state's dedication to modernizing urban areas.

Market Trends and Buyer Insights

• Affordability Focus: Homes priced below RM600,000 continue to be the primary drivers of market activity, aligning with the government's push for affordable housing. The Rumah MutiaraKu scheme is a direct response to this demand.
• Moderate Expansion: The National Property Information Centre (NAPIC) reported a moderate expansion in new residential launches in Penang during Q1 2025, reflecting a healthy, sustained interest.
• Improving Overhang: The overhang of serviced apartments nationwide has shown improvement, indicating a better absorption rate for these types of units, a positive sign for new launches like SENZE @ PICC and G'Vinton.
• Strategic Locations: Developments in well-connected areas with access to amenities, employment hubs (like the FIZ), and future public transport nodes (LRT stations) remain highly desirable.

 

The Penang property market in 2025 is shaping up to be an exciting year, with new condo launches catering to all types of buyers. Thanks to strong infrastructure development, economic growth, and supportive government programs like the MADANIHome Ownership Campaign, both Penang Island and Seberang Perai present great opportunities. Whether you’re a first-time buyer, upgrading your home, or looking for an investment property, staying up-to-date on these new developments will help you make a smart choice in Penang’s growing real estate market.

Other Article:

• Affordable Studio Apartments for Rent in Selangor and Kuala Lumpur (KL)
• Top 11 Luxury Condo Near TRX Kuala Lumpur
  
• 11 Property for Rent in Johor Bahru near CIQ