365 residences · 3 & 4 bedrooms · completing 2028
Freehold residential,Tanjung Bungah.
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Indicative
Starting prices by layout
- RM1.2m – RM1.3m
- Types D2 & C2 · 1,334 – 1,388 sq ftThree bedrooms, two bathrooms, facing the hill. The lower entry point, and cooler through the afternoon.
- RM1.4m
- Type E2 · 1,334 sq ftThe same floor area as D2, facing the sea instead. That difference is what the view costs here.
- RM1.6m – RM1.7m
- Type B2 · 1,636 sq ftThree bedrooms, three bathrooms, sea-facing centred corner.
- RM2.3m – RM2.4m
- Type A2 · 2,152 sq ftThe four-bedroom, three-bathroom corner. The largest plan below level 33.
These are the developer’s own “indicative SPA price” figures for levels 9 to 32, not a price list. The top seven floors carry larger plans and are priced separately. The figure for a specific unit moves with level and stack and is released in writing — ask and I will get the current one.
Foreign buyers & MM2H
Yes, foreigners can buy here
Tanjung Bungah is one of Penang island’s long-established expatriate neighbourhoods, and this development is priced above the state’s minimum for foreign buyers.
Above the island threshold
Penang sets a minimum purchase price for foreign buyers on the island, and every layout here sits above it. Ask and I will send the current figure in writing rather than printing one that ages.
State consent is a normal step
A foreign purchase needs Penang state consent. It is a standard part of the process handled by your solicitor, not an obstacle — build the timeline into your planning.
MM2H is a separate question
Malaysia My Second Home is a residency programme, not a condition of buying. You can own here without it, and holding it does not exempt you from the foreign-buyer rules. The tiers are set out below.
Budget for the extras
A foreign purchase carries a stamp duty surcharge and a Penang state consent fee on top of the price. The developer’s current package covers part of that — the list is below.
MM2H, as it currently stands
The programme runs in tiers. Each requires a fixed deposit in a Malaysian bank and a property purchase, and the property has to be held for as long as you hold the visa.
| Tier | Fixed deposit | Minimum property | Visa term |
|---|---|---|---|
| Silver | USD 150,000 | RM600,000 | 5 years |
| Gold | USD 500,000 | RM1 million | 15 years |
| Platinum | USD 1 million | RM2 million | 20 years |
Published terms as at August 2026
There are also age and minimum-stay conditions, and part of the deposit can be released after the first year once the property condition is met. Those details have been revised more than once and are reported inconsistently, so ask me for the current ministry position rather than working from a summary. Note too that Penang island sets its own floor for foreign buyers, which sits above the Silver property minimum — so on this island the state rule, not the tier, is what governs what you can buy.
Developer incentives
The current package from the developer. Confirm what is live on the day you book.
- Free sale and purchase agreement legal fees
- Free loan agreement legal fees and loan stamp duty
- RM10,000 subsidy toward the foreigner consent fee
- RM20,000 booking fee, paid to the stakeholder’s account
- Semi-fitted unit — kitchen and wardrobes in
Not covered: the memorandum of transfer and the foreigner levy. Both fall to the buyer.
Thresholds, state consent and MM2H terms are set by government and are revised from time to time. Nothing here is legal or immigration advice — confirm the current position with me and with your own solicitor before committing.
Ask about eligibilityThe address
A 20-minute drive from George Town, next door to a school
Two freehold towers on two acres. 365 homes, six to a floor, three car parks each.
Waterstone is off Jalan Loh Poh Heng in Tanjung Bungah, on the coast road between George Town and Batu Ferringhi. The wet market is a three-minute walk, Tree Square is two, and POWIIS is next door. This is a settled neighbourhood — nothing here is waiting to be built.
Parking sits on levels 1 to 7 and the facilities deck on level 8, so every home is above it. Sizes run 1,334 to 2,195 sq ft. Types A, B and E face the sea; C and D face the hill and cost less. Freehold, completing Q4 2028, by BSG Property.
Ask for the price list →Tanjung Bungah freehold
Where does it sit?
Mira Residence, Alila2 and Waterstone are all freehold on the same stretch of coast. The transacted numbers tell you what the corridor prices today and where a new launch fits.
Mira Residence
Price per sq ft
RM722 median
3 transactions, Sep – Nov 2024; median price RM1.18m
- Status
- Completed 2016
- Scale
- 376 units · 32 storeys · 6 per floor
- Price
- RM850k – 2.15m asking
This project
Price per sq ft
~RM900 – 1,100
Derived from the indicative SPA prices (RM1.2m – RM2.4m) across the built-up range
- Status
- Expected Q4 2028
- Scale
- 365 units · 40 storeys · 6 per floor
- Price
- From ~RM1.2m
Why here
Why buyers pick this one
Only six homes per floor
Four passenger lifts and one service lift for six units. You notice that at 8am, not on a brochure.
Three car parks, every home
Unusual at this size in Penang, and not something you can add later.
Residential title, not serviced
Pure residential strata — lower utility rates, lower assessment, lower maintenance than serviced or commercial title. Over a decade, the savings compound.
A ready tenant pool on the doorstep
POWIIS and Dalat families, the established expat community, and the medical-hub corridor — Tanjung Bungah has a year-round rental demand that does not depend on tourism.
The towers
What sits on each level
Parking on 1–7, facilities on 8, homes from 9 up. Nobody looks down at the pool from their bedroom.
Levels
Bands are drawn in proportion to storey count, from the car park up to level 39 — the highest residential floor of a 40-storey tower. The upper band carries its own set of larger plans.
- Floors drawn
- 39
- Residential levels
- 31
Every layout, side by side
Pick the orientation first, then the shape. The top seven floors get the same plans, slightly larger.
Sea View
- E21,334 sq ftLevels 9 – 323 bed · L9–32
- E11,399 sq ftLevels 33 – 393 bed · L33–39
- B21,636 sq ftLevels 9 – 323 bed · L9–32
- B11,722 sq ftLevels 33 – 393 bed · L33–39
- A22,152 sq ftLevels 9 – 324 bed · L9–32
- A12,195 sq ftLevels 33 – 394 bed · L33–39
Hill View
- D21,334 sq ftLevels 9 – 323 bed · L9–32
- C21,388 sq ftLevels 9 – 323 bed · L9–32
- D11,410 sq ftLevels 33 – 393 bed · L33–39
- C11,463 sq ftLevels 33 – 393 bed · L33–39
The essentials
Project details
The numbers, in one place.
- DeveloperBSG Property
- LocationOff Jalan Loh Poh Heng, Tanjung Bungah · Penang
- TenureFreehold, residential title · about 2 acres
- Bedrooms3 in most layouts; Types A1 and A2 are 4-bedroom
- Bathrooms2 in the smaller layouts, 3 in Types A and B
- Built-up1,334 – 2,195 sq ft across ten layouts
- Car parks3 bays per residence · parking on levels 1 – 7
- CompletionExpected Q4 2028
Six homes to a floor.
Three car parks each.
Layouts
Ten layouts, five shapes
Five plans in two orientations. Types A, B and E face the sea; C and D face the hill and cost less. Each plan appears twice — once for levels 9–32, and again about 40 sq ft bigger for levels 33–39. Type A is four bedrooms; the rest are three.
2,152 sq ft · 4 bedrooms · 3 bathrooms · sea-facing corner
Plans are indicative and not to scale — message me for the full-resolution pack.
What you can walk to
The market is 100 m. Tree Square is 200 m. POWIIS is 300 m. That is the real reason families buy here.
Schools
- 4 minPOWIIS International School
- 12 minDalat International School
- 19 minTenby Schools Penang
Everyday
- 1 minTanjung Bungah fresh market & food complex
- 2 minTree Square retail & outlets
- 14 minPenang Swimming Club
- 18 minPearl Hill
Tanjung Bungah
Everything close, and one honest catch
Wet market 100 m. Tree Square 200 m. POWIIS 300 m. Straits Quay 8 minutes, George Town 20.
Schools
- POWIIS International School300 m
- Dalat International School1 km
- Tenby Schools Penang1.6 km
Everyday
- Tanjung Bungah fresh market & food complex100 m
- Tree Square retail & outlets200 m
- Penang Swimming Club1.2 km
- Pearl Hill1.5 km
Further afield
- Straits Quay marina~8 min
- George Town~20 min
- Penang Bridge~25 min
- Penang International Airport~45 min
Good to know
Frequently asked questions
The questions buyers ask first — including the ones where the honest answer is that I do not have it in writing yet.
How much does a residence cost?+
What sizes are available?+
How many homes are there, and how dense is each floor?+
Is it freehold?+
The harder questions
Three things worth asking before you commit
The specification tells you what the building is. These decide whether it is right for you — answered including the part that does not help me.
Why Tanjung Bungah rather than closer to George Town?
You are buying a shorter distance to the things a family uses every week and a longer one to the office. Five schools sit inside three kilometres, the marina is a ten-minute drive and the beach is six kilometres up the same road. Freehold land on this coast is largely spoken for — most of the shoreline was developed decades ago — so a 2.4-acre freehold site here is not a thing that repeats often.
The catch
One coastal road serves the whole strip, and it carries everything moving between the city and Batu Ferringhi. If you commute into George Town at peak, that road is your daily reality and no amount of sea view offsets it. Drive it at 8am before you decide.
Sea-facing or hill-facing — does it matter that much?
More than most buyers expect, and it is worth settling before you look at a single floor plan. Sea-facing units look west across the Strait, carry the premium and get spectacular evenings. Hill-facing units look back at the ridge, stay noticeably cooler through the afternoon, and cost less for the same floor area. Neither is the better home in the abstract; they suit different people.
The catch
West-facing glass on this coast takes the full afternoon sun, which means heat and higher cooling costs, and the premium you pay for the view is the part that is hardest to recover if you sell in a soft market. If you are buying primarily to let, run the numbers on the hill-facing units before you assume the sea view pays for itself.
What does a Q4 2028 handover do to my money?
You are buying at today’s price for a home you take in about two and a half years, and you pay for it in stages rather than up front — a Malaysian new launch draws down progressively as construction reaches each stage, so your capital goes in over the build rather than on day one. Between now and then you are not paying maintenance, quit rent or assessment on it, and you are not letting it either.
The catch
Two and a half years is long enough for the market to move against you, and construction timelines slip. Your sale and purchase agreement sets the completion period and the damages if it is missed — read that clause with your own solicitor rather than taking a date from a marketing page, this one included.
What happens next
Four steps, no obligation at any of them
You message
One WhatsApp message to Kelvin. No form, no mailing list, nothing stored on this site.
The documents
The current price list and the unit schedule from the developer — the one document that resolves most of what this page says is unconfirmed.
A private viewing
At the sales gallery, by appointment. We confirm beforehand what is built out to walk through.
Booking, then your solicitor
A booking form and deposit reserve a specific unit. The sale and purchase agreement follows, and your own solicitor takes it from there.
Speak to the sales team
Ask for the price list & unit schedule
Message Kelvin on WhatsApp for the current price list, the unit schedule and the full-resolution floor plans.
Replies from the sales team, usually within a few hours. No obligation.
- AdvisorKelvin
- Call+60 13-614 1314
- LocationJalan Loh Poh Heng, Tanjung Bungah, Penang