Moulmein Rise Review 2026 — 84 Freehold Pulau Tikus Suites Under The Anton's Price

Part of my Pulau Tikus 2026 buyer's guide. For the full corridor read — every project, PSF band, foreign-buyer angle and honest catch — start there. This piece drills into one specific decision within it.

Against The Anton elsewhere in Pulau Tikus, Moulmein Rise is the Pulau Tikus luxury buy that stops short of villa-scale floor plates — and stops short of villa-scale prices too. Belleview Group completed it in 2016: 84 suites over 27 storeys on a 2-level retail podium at Jalan Moulmein, freehold, with units of 1,787 to 2,228 sqft now trading sub-sale between RM2,400,000 and RM3,000,000, or RM1,400–1,600 a foot. If you have looked at The Anton and decided you do not need 5,470 sqft, this is usually the next conversation.

Key takeaways:

• 84 units in one 27-storey tower — a genuinely small building by Pulau Tikus standards, sitting on a retail podium.
• RM2,400,000–3,000,000 at RM1,400–1,600 PSF: below The Anton's ceiling, well above the area's entry-level sub-sale.
• 1,787–2,228 sqft, 3+1 to 4+1 bedrooms — spacious without being landed-scale.
• Completed 2016, freehold — a decade of owners and a real resale record, no developer warranty.
• Wrong building for anyone who wants brand-new stock or the largest floor plates in the neighbourhood.

Eighty-Four Suites, Not Several Hundred

The first thing that separates Moulmein Rise from most of what sells in Pulau Tikus is the unit count. Eighty-four homes across 27 floors is a low-density address where you recognise your neighbours, lifts are rarely crowded and the management committee is a small room rather than a hall. It also means listings are infrequent; when one appears it tends to be a specific unit on a specific floor rather than a choice of stacks, so the decision is often "this one or wait" rather than "which one".

The 2-level retail podium at the base is the other structural feature worth understanding. It puts daily convenience at ground level without a drive, which matters more than it sounds for the older own-stay buyer this building tends to attract.

RM1,400–1,600 a Foot — Where That Sits in Pulau Tikus

Pulau Tikus prices in tiers. At the top is The Anton, with 2,698–5,470 sqft units at a premium that reflects near-landed scale. At the bottom is a large stock of older, more accessible sub-sale condos. Moulmein Rise sits in between: RM2,400,000 to RM3,000,000 buys a 1,787–2,228 sqft suite at RM1,400–1,600 PSF. That is a mid-premium price for a mid-premium product, and the band is not arbitrary. Within one building, a 200-PSF spread reflects floor, facing and — in a ten-year-old tower — how much the last owner spent on it. Two listings at RM1,400 and RM1,600 can be the same layout in very different condition, so compare the unit in front of you, not the headline.

1,787 to 2,228 sqft, 3+1 to 4+1 Bedrooms

The sizes here are what a Penang family used to landed living can move into without feeling squeezed: 3+1 layouts at the smaller end, 4+1 at the larger, with the plus-one room doing helper or study duty. It is generous without tipping into the 3,000-plus sqft territory where maintenance bills and resale pools both become awkward. For a buyer downsizing from a Pulau Tikus bungalow, or an MM2H family who wants space without a garden to manage, this is the size bracket that tends to fit.

Nine Years of Owners Have Already Tested This Building

The 2016 completion is an advantage, not a drawback, provided you use it. With a new launch you underwrite a render and a developer's promise; here you can read the actual maintenance and sinking-fund history, walk the common areas and see how they have been kept, and look at real transacted prices instead of projections. What you give up is the defect-liability period and the feeling of new. For a buyer who prioritises certainty over novelty — and most RM2.4M-plus own-stay buyers do — that is a trade worth making.

Three Hospitals Within Reach

The neighbourhood's defining asset is medical. Island Hospital, Gleneagles Penang and Loh Guan Lye Specialists Centre are all in the immediate Pulau Tikus area, which is why the district draws retirees, medical-tourism families and MM2H holders who want a specialist within minutes. Add the food, the wet market culture and the proximity to Gurney Drive, and you have a neighbourhood that trades on convenience rather than sea views. My guide to buying in Pulau Tikus goes deeper on the sub-districts and what each tier costs.

Foreign buyers clear the RM1,000,000 island minimum by a wide margin here. Budget the 3% state levy (RM72,000 at a RM2,400,000 purchase), state consent of typically three to four months, and the exit tax — RPGT at 30% in years 1–5 and 10% from year 6, which the RPGT calculator will model for your hold period. The rest of the acquisition stack is in what it really costs a foreigner to buy here.

Verdict: the Mid-Premium Pick, With One Caveat

Moulmein Rise is for the buyer who wants Pulau Tikus's established luxury tier — own-stay families, long-hold investors, downsizers — and values a settled building with a known record over the shine of a new launch. The caveat is simply that it is a decade old: no warranty, and the condition of the specific unit will move the price as much as the floor does. If you need the largest plates in the area, The Anton is the answer; if you need new, look elsewhere. Everyone else should start with the listings on the Moulmein Rise project page and ask me which floors have come up recently.

Sources: Project prices, PSF, sizes, unit counts, tenure, land title, developer and completion year from our tracked dataset, compiled from developer price lists, official project sites and public listings. Sub-sale asking verified from live portal listings using the median-anchored method, with bait listings and relisted units excluded. RPGT rates and the s.21B retention per the Real Property Gains Tax Act (LHDN). Stamp duty per the Stamp Act (LHDN) — a flat 8% for foreign buyers, tiered 1–4% for citizens. The foreign-buyer minimum purchase price, 3% island / 2% mainland state levy and state consent requirement per Penang state policy and s.433B of the National Land Code. MM2H tiers per MOTAC. Figures move with the market — confirm current details with the developer or your solicitor before committing.