Ivory Properties Group Bhd, which is working on multiple projects in Penang, is optimistic about its prospects for 2022.
Datuk Low Eng Hock, the company's chief executive officer, expressed optimism in the wake of the government's multiple stimulus initiatives aimed at boosting the housing market.
He said in a statement released yesterday following the company's shareholders meeting that Ivory Properties will continue to be cautious about future ventures to address challenges posed by the Covid-19 pandemic.
Among the company's projects are the Crown Penang in Straits Quay, The Millennium in Batu Uban, and The Wave at Penang Times Square.
According to Low, the RM340 million Crown Penang is a soaring 40-storey serviced suite located on 0.81 hectares (ha) prime land.
The Millennium is a mixed-use development with a gross development value (GDV) of RM950 million that spans 2.39 hectares (ha) of prime land.
The Wave at Penang Times Square, which has a GDV of RM500 million and is located in the central business district, would be completed in the first quarter of next year, according to Low.
The Grand Connaught in Cheras and Avenue 8 in Sungai Besi, he said, are two projects the company hopes to complete outside of Penang by 2026.