Geo Valley Sdn Bhd will be launching 358 units of high-end residential and commercial properties in Paya Terubong, Penang over a 12-month period.

With a gross sales value of over RM367 million, the development will be located on a 50-acre freehold site.

A member of the Lone Pine Development Group, which boasts 20 years’ experience as a developer, Geo Valley hopes to transform Paya Terubong into one of the most liveable suburbs in Penang in the next five years.

The developer, established 10 years ago, had recently only completed and sold 68 double-storey semi-detached units in Taman Seri Rambai in the locale.

Marketing and purchasing manager Mabel Ooi said several launches are planned in the coming months, the first at the end of July with the introduction of 30 semi-detached houses and six bungalows priced from RM800,000.

In addition to the residential launches, the Pine Valley Business Centre, that will comprise 34 units of three-and-a-half-storey shops and offices priced from RM1 million will also be introduced.

According to Ooi, Geo Valley has sold about 47% of the commercial properties since its soft launch last month.

Next year, the developer hopes to launch a gated-community project of 288 semi-detached villas that will boast five-star lifestyle living, Ooi added. 

Currently, Geo Valley is undertaking the niche development of five three-storey detached units, four of which have been sold, as well as a 29-storey block of 405 flats and 12 shoplots in Paya Terubong. Construction work for the properties is scheduled for completion by next month.