Lightwater Residences: Redefining Waterfront Living in Penang
This article first appeared in City & Country, The Edge Malaysia Weekly on November 18, 2024 – November 24, 2024
At a record price tag of almost RM1,800 psf, The Light City in Gelugor is set to feature the most expensive project in Penang with the upcoming launch of Lightwater Residences, says IJM Land Bhd CEO Datuk Tony Ling.
In an exclusive interview with City & Country, he explains that Lightwater Residences, which has a gross development value (GDV) of RM694 million, is the second and final residential development in The Light City and will be launched next February. The first residential development is called Mezzo.
The Light City is the second precinct of the RM6 billion The Light Waterfront Penang masterplan, which will consist of five precincts once completed.
“We are absolutely thrilled to bring Lightwater Residences to market because we know it’s going to be a game changer. This project represents the pinnacle of luxury waterfront living, with unobstructed sea views and conveniences from the amenities nearby. There’s a market for [such properties] and we also think that the project itself commands that kind of value, with the demand and value proposition,” Ling says.
“Also, we sold the most expensive supervillas at The Light Collection (the masterplan’s first precinct). The four water villas sitting on top of the seawater are the most luxurious water villas in Penang.”
Lightwater Residences
The freehold Lightwater Residences sits on 2.87 acres and offers 262 condominium units in two 34-storey towers, with built-ups ranging from 1,152 to 3,186 sq ft. The units are priced from RM2.05 million or RM1,780 psf.
“It epitomises low-density living where privacy and tranquillity are ensured for its discerning residents. Each unit is designed with floor-to-ceiling windows, allowing natural light into the interiors,” Ling adds, noting that each unit has a private lift lobby.
Beyond the allure of the coastline, he explains that the crystalline structures of Lightwater Residences catch and reflect light, creating a dynamic interplay between the built environment and the natural seascape. The window-wall facades not only offer uninterrupted views but also maximise natural light into the unit.
The development also includes two facility floors to provide holistic wellness-oriented amenities. On the sixth floor is a landscaped garden deck featuring a range of leisure and wellness facilities, such as a fitness room, indoor children’s playground, gymnasium, kitchen, studio room and wellness room, to promote relaxation and well-being.
On the 25th floor, the sky terrace offers a private sky villa designed for relaxation and social gatherings, with facilities like a sky lounge, whisky lounge, cigar lounge, private dining area and Jacuzzi.
Ling notes that Lightwater Residences is designed with sustainability in mind and has obtained GreenRE Gold rating. It incorporates various eco-friendly features, including a rainwater-harvesting system to collect and store rainwater, alongside an automatic irrigation system for the landscaped areas.
“Additionally, EV (electric vehicle) charging bays are provided to support the growing shift towards electric vehicles, promoting greener transportation options. The use of low VOC (volatile organic compounds) paint improves indoor air quality, while the design ensures accessibility for disabled individuals, fostering an inclusive environment,” he says.
“There is a 360° biophilic pavilion that features innovative cooling systems and lush vertical gardens, creating a serene retreat while enhancing energy efficiency. Solar panels power common areas, reducing reliance on non-renewable energy sources. The community gardens utilise water-saving techniques and hydroponic systems, fostering a sustainable lifestyle that aligns with modern ecological values.”
The Light City
Beyond the amenities within the development itself, says Ling, the premium price at Lightwater Residences is also supported by the overall master plan of The Light City, where residents can enjoy seamless access to a variety of amenities.
The Light City, the second precinct of the 152-acre The Light Waterfront Penang master plan, is being developed by IJM Perennial Development Sdn Bhd, a joint venture between IJM Corp Bhd and Singapore-based Perennial Real Estate Holdings Ltd. IJM Corp Bhd (KL:IJM) is the parent company of IJM Land.
Positioned as Penang’s premier integrated waterfront precinct, the 32.76-acre The Light City will have a total GDV of over RM4.5 billion. With an estimated total built-up area of 4.1 million sq ft, the development will include the Penang Waterfront Convention Centre (PWCC), a shopping mall called The Waterfront Shoppes, and residential, hotel and office properties. It will also feature a 750m-long waterfront promenade.
With a direct link to an upcoming LRT station, the development is exceptionally well-connected and will appeal to both local and international buyers.
PWCC — with a theatre-seating capacity of up to 8,000 guests and is the largest in the state at over 76,000 sq ft — held its topping out ceremony in January this year. The convention centre, along with the shopping mall, is expected to be opened to the public in 4Q2025.
The shopping mall, which will have a total gross floor area of 1.5 million sq ft, is positioned similarly to The Gardens Mall in Kuala Lumpur, Ling says.
The development also includes two mixed-use towers. Currently under construction, one will house two international hotels: the 5-star JdV by Hyatt with 156 rooms, and the 4-star Galaxy Minyoun Penang The Light City Hotel with 303 rooms. These hotels will cater for discerning travellers seeking comfort and convenience. Below the hotels are nine floors of office suites. This tower is scheduled to open in 2Q2026.
Construction of the other tower, with details yet to be finalised, is expected to start in 2026.
For now, the precinct’s first residential property Mezzo, where vacant possession is expected to be delivered by 2Q2025, is almost fully sold.
Launched in April 2021, the 4.12-acre Mezzo offers 456 units of luxury condominiums. It features 2- and 3-bedroom units with built-ups ranging from 1,033 to 1,367 sq ft across two 34-storey towers. Prices range from RM900,000 to RM1.399 million. The project has a GDV of RM512 million.
Amenities include a gymnasium, aqua gym, sea-front swimming pool, Jacuzzi, yoga pavilion, landscaped garden, children’s playground, fitness station and al fresco barbecue area as well as games, reading and function rooms.
The master plan’s first precinct is the 42-acre The Light Linear and The Light Collection, which comprises 1,177 high-end residential units that have been handed over to buyers.
The third precinct will be launched next year while reclamation works for the fourth and fifth precincts are scheduled to begin in 2026.
Ling notes that the entire master plan will take ten to 15 years to complete.
The development is served by the Tun Dr Lim Chong Eu Expressway and is near the Penang Bridge, Penang International Airport and Bayan Lepas Free Industrial Zone.
Pivotal development
Meanwhile, Ling sees Lightwater Residences as a pivotal achievement for IJM Land, solidifying its leadership in luxury real estate. “It exemplifies our commitment to excellence, blending world-class design with an exclusive waterfront lifestyle. It is a bold statement of our ability to redefine high-end living, where urban sophistication meets natural tranquillity,” he says.
“Our goal with Lightwater Residences is to create a landmark development that stands as a symbol of prestige and innovation. Every aspect, from its architecture to its meticulously crafted lifestyle offerings, reflects our dedication to setting new standards in luxury living.
“This project is about building a legacy — a community that embodies refinement, exclusivity and a superior living experience. Through Lightwater Residences, we aim to shape the future of luxury living, delivering an unparalleled experience that resonates with discerning buyers.”
Media: The Edge Malaysia
Read more: https://theedgemalaysia.com/node/734510
