The verdict
4.1/ 5Mezzo sits inside The Light City masterplan in Gelugor — IJM Perennial's 4.12-acre, 2-block, 456-unit freehold residential development.
- Price
- RM1M–RM1.50M
- Tenure
- Freehold
- Land title
- Residential
- Completion
- 2025
Zac’s own rating, not user reviews.
Zac’s own rating, not an average of user reviews. It reflects one licensed agent’s assessment of this project against others he tracks in Penang.
Mezzo is the first finished home inside IJM's Light City, and right now it's the closest completed home to Penang's biggest new mall. Its 456 freehold homes in two 34-storey towers were handed over in 2025, and The Waterfront Shoppes opens beside them on 29 October 2026.
Key takeaways:
- 456 freehold homes on residential title, two 34-storey towers on 4.12 acres, completed 2025 by IJM Perennial.
- Two- and three-bedrooms of about 1,033–1,367 sq ft, handed over bare.
- Launched in 2021 at about RM900,000–1.399M; 2026 resale asking about RM1M–1.5M.
- Rents about RM3,600–6,000 a month, the strongest rental case in the precinct.
What you get
Mezzo is a joint venture between IJM and Singapore's Perennial Holdings, the same partnership behind The Light City's mall, convention centre and hotels. Its homes are two- and three-bedrooms of about 1,033 to 1,367 sq ft, aimed at couples and small families rather than big households. The main layouts are a 1,033 sq ft two-bedroom and a 1,292 sq ft three-bedroom, with slightly larger versions, about 1,109 and 1,367 sq ft, on the facility floor.
The homes were handed over bare: no kitchen cabinets or built-ins, just air-con piping, a water heater point and a grille door. Budget for a full fit-out if you buy an unrenovated unit. Residents' facilities are on a level-6 deck. The quoted service charge is about RM0.30 per sq ft, which is moderate. The title is residential, so you get household utility rates and normal loan terms.
What has changed since launch
IJM Perennial launched Mezzo in April 2021 at about RM900,000 to RM1.399M. In September 2026, resale asking prices ran from about RM1M to RM1.5M, so the cheapest units are asking about 10% above launch after five years. Early buyers have seen a modest gain, not a windfall, and a buyer today is paying close to launch-plus. Check what the seller actually paid, and whether a renovation is included in the price.
Prices and rents in 2026
Resale asking prices ran from about RM1M to RM1.5M. Furnished homes were listed for rent at about RM3,600 to RM6,000 a month: two-bedrooms mostly RM3,600–5,500, three-bedrooms around RM6,000. On a RM1.1M two-bedroom renting at RM4,500, that's about 5% gross before costs, the best rental return in The Light Waterfront. Remember these are asking rents in a newly completed building; achieved rents are often lower once a lot of owners compete for tenants.
Living here once the mall opens
The Waterfront Shoppes soft-opens on 29 October 2026, with about 1.6 million sq ft and around 300 shops beside the Penang Waterfront Convention Centre. Mezzo is the nearest completed home to it, which helps with tenants and everyday convenience. It also means the most traffic and visitors, especially in the first months. More in my Waterfront Shoppes opening guide.
Getting around
The precinct sits beside the island end of the Penang Bridge. Measured road distances at free-flow speeds (rush hour takes longer):
- USM: about 5 km, 8 minutes.
- Queensbay Mall: about 6 km, 8 minutes.
- Komtar, George Town: about 10.5 km, 12 minutes.
- Penang airport: about 11 km, 13 minutes.
The Mutiara Line's Penang Waterfront (The Light) station is planned beside the precinct, due in December 2031. In Klang Valley, new stations added only a small premium to nearby prices, so don't pay extra for it today.
For foreign buyers
Many Mezzo homes now list at or above Penang Island's RM1M minimum for foreign buyers of condos, but check each unit. MM2H participants can buy from RM500,000 (residential, up to two homes), which opens every unit. Homes up to RM1.5M pay a 1.5% state levy, on top of the flat 8% foreign-buyer stamp duty and a three- to four-month wait for state consent.
The catches
456 homes is not boutique. Expect the pool and gym to be busy at peak times.
The Light City is still filling in. The mall opens on 29 October and the hotels are expected later, and Lightwater Residences next door won't complete until 2029, so expect construction around you for a while yet.
Bare handover means a renovation budget on top of the price for an unrenovated unit.
If you want a large family home, Mezzo's biggest layout tops out at about 1,367 sq ft. Look at the Light Collection phases instead.
Which Light building suits you?
The Light Linear, completed in 2012, offers bigger three-bedrooms of about 1,500 sq ft from about RM850,000. Merione Residences, launched on 13 September 2026, starts at RM1.578M for a new three-bedroom due in 2029. Lightwater Residences is the luxury launch, from about RM2.05M. The Light Waterfront guide compares every phase.
Zac’s Take
Zac Ong
Mezzo is the easiest way to own a brand-new home inside The Light City without paying luxury prices, and the mall next door makes it the precinct's best rental case. It suits couples and small families, and investors who want a new unit to let. Budget for the fit-out if the unit is bare, and test the asking rent before you rely on it. If you need more space or fewer neighbours, the older Light Waterfront phases give you more home for the money.
Average response: under 1 hour, 9am–7pm Mon–Sat.
📲 Get current Mezzo listingsCurrent details and listings are on the Mezzo project page.
Sources: Launch date, prices, towers, land area and sizes from IJM Land's project announcements; handover specification, facilities and service charge from developer material. Resale asking prices and rents from PropertyGuru and Mudah listings (September–October 2026). Road distances measured on OpenStreetMap routing; LRT station from MRT Corp's Mutiara Line site.