The Light Waterfront is the most misunderstood address in Gelugor. Buyers arrive convinced it's one condominium, or that E&O built it, or that "The Light City" and "The Light Waterfront" mean the same thing. None of that is true, and the confusion costs money, because the homes inside it run from about RM850,000 to RM9.5M and suit completely different buyers.
Key takeaways:
- It's IJM's 152-acre freehold seafront masterplan in Gelugor, beside the island end of the Penang Bridge. Not E&O.
- The Light City is a precinct inside it, by IJM Perennial: Mezzo, Lightwater Residences, the mall, convention centre and hotels.
- Homes run from about RM850,000 (The Light Linear) to RM9.5M (Collection IV water villas); new launches from RM1.578M.
- The Waterfront Shoppes soft-opens on 29 October 2026; the LRT station is due in December 2031.
- Merione Grand is commercial space, not homes, and it's sold out.
What it actually is
It's a masterplan, not a building. IJM reclaimed land along Gelugor's eastern shore and has built it out in phases since 2009. The homes came first: The Light Linear and The Light Point in 2012–13, then the four low-rise Collection phases to 2017. The newer Light City precinct followed, with Mezzo completed in 2025 and Lightwater Residences under construction.
The commercial side is arriving now. The Penang Waterfront Convention Centre is the state's largest convention venue. The Waterfront Shoppes, about 1.6 million sq ft, soft-opens on 29 October 2026. Two hotels, JdV by Hyatt and Galaxy Minyoun, are planned in The Light City's mixed-use tower, with opening dates that have moved several times. More in my Waterfront Shoppes opening guide.
The E&O confusion, settled. E&O's Penang reclamation is Seri Tanjung Pinang and Andaman Island in Tanjung Tokong. Both are seafront reclamation by listed developers, which is why buyers merge them, but they're on opposite sides of the island with different products and prices.
Every home, with real numbers
Completed phases show 2026 resale asking prices; new launches show the developer's prices.
| Phase | Status | From | Sizes (sq ft) | Homes | Done |
|---|---|---|---|---|---|
| The Light Linear | Completed | ~RM850,000 | 1,475–1,570 | 328 | 2012 |
| Mezzo | Completed | ~RM1,000,000 | 1,033–1,367 | 456 | 2025 |
| The Light Collection I | Completed | ~RM1,300,000 | 1,367–3,132 | 176 | 2012 |
| The Light Collection II | Completed | ~RM1,450,000 | 517–3,617 | 297 | 2014 |
| Merione Residences | Selling | RM1,578,000 | 1,055–1,206 | 145 | 2029 |
| The Light Collection IV | Completed | ~RM1,730,000 | 1,991–7,150 | 98 | 2017 |
| The Light Point | Completed | ~RM1,800,000 | 1,830–4,090 | 88 | 2013 |
| The Light Collection III | Completed | ~RM1,900,000 | 1,851–5,091 | 190 | 2015 |
| Lightwater Residences | Under construction | ~RM2,085,000 | 1,152–3,186 | 262 | 2029 |
The completed phases
The Light Linear is the cheapest way in: 328 three-bedrooms in two 17-storey towers, from about RM850,000. Mezzo is the brand-new option, two- and three-bedrooms from about RM1M, and it's the closest finished home to the mall. The Light Collection I, II and III are the low-rise heart of the estate, seven to eleven storeys, with layouts from compact apartments to near-house-sized homes. The Light Point is the boutique tower, 88 big homes in 28 storeys. The Light Collection IV is the top end: apartments, duplex penthouses and 19 water villas up to about RM9.5M.
The subsale market is the strongest argument for buying here. Seven completed phases mean real transactions to compare, a choice of sizes and prices, and homes you can walk before you pay. Every review linked in the table covers each phase's catches.
The new launches
Lightwater Residences is The Light City's second and final residential project: 262 homes in two 34-storey towers, launched in February 2025 from about RM2.05M (RM1,780 per sq ft). Published prices have since moved up, to about RM2.085M for a 1,152 sq ft two-bedroom and RM2.642M for a 1,410 sq ft three-bedroom, around RM1,810–1,870 per sq ft. It's due in the first quarter of 2029.
Merione Residences launched on 13 September 2026: 145 semi-furnished three-bedrooms of about 1,055–1,206 sq ft on levels 11 to 39, five per floor, at RM1,578,000 to RM1,943,000. It's due in December 2029.
Merione Grand is the commercial base of the Merione tower: retail units, shop-offices and boutique offices. It isn't housing, and IJM reported a full take-up of the commercial units in September 2026, so anything there now will be a resale.
The LRT station
The Mutiara Line began construction on 11 January 2025 and targets December 2031. It runs about 29.5 km with 22 stations, from Silicon Island past the airport and the Bayan Lepas industrial zone, up the eastern coast to Komtar, and across to Penang Sentral. Station S15 is Penang Waterfront (The Light), beside the precinct.
Two things follow. It's real, not proposed: a funded project under construction. And it's a long-dated catalyst. In Klang Valley, studies found only a small price premium near new stations, so price a home on what it's worth today and treat the station as a convenience you aren't paying for. The line doesn't serve the northern coast. If someone sells you a Gurney or Tanjung Tokong condo on an LRT story, they're describing a station that doesn't exist. More in the LRT and property prices.
What the foreign-buyer rules mean here
Penang Island's minimum for foreign buyers of condos is RM1M. The state levy is 1.5% for homes from RM1M to RM1.5M and 3% above that, plus a flat 8% foreign-buyer stamp duty and three to four months for state consent. MM2H participants can buy residential homes from RM500,000.
Every home at Lightwater, Merione Residences, The Light Point and Collections I, III and IV clears the RM1M minimum. At The Light Linear, Mezzo and Collection II, check each unit, because many list below or close to RM1M. On a RM2.085M Lightwater home, the levy alone is about RM62,550. Work through the true cost of buying as a foreigner before you set a budget.
Which phase suits you
- Family on a budget: The Light Linear. Normal three-bedrooms, often under RM1M.
- New, near the mall: Mezzo. Finished, so you can inspect before you buy.
- Low-rise and settled: Collection I or II.
- Space for a big family: Collection III, The Light Point or Collection IV.
- New-build, long hold: Merione Residences (cheaper, compact) or Lightwater (bigger, flagship).
- Yield first: not the strongest case. Asking rents give roughly 4–5% gross on Mezzo's smaller homes and about 3–4% at The Light Linear, but under 3% on the big homes.
The honest caveats
Traffic. Gelugor sits on the approach to the first bridge, and peak hours are heavy. The mall opening will add to it, at least at first. Drive it at 8am on a weekday, not just on a Sunday viewing.
Construction isn't over. Lightwater and Merione won't complete until 2029, so some homes will live beside cranes for a few more years, and new supply will compete with resales.
Density varies enormously. 88 homes at The Light Point and 456 at Mezzo are very different places to live. Decide which you actually want.
Reclaimed land. That's normal for Penang's waterfront and the engineering is established, but if it matters to you, ask about the soil and settlement documentation for your building.
Zac’s Take
Zac Ong
The Light Waterfront is no longer a promise: the homes, the convention centre and now the mall are real. For most buyers the best value is in the completed phases, where you can see the view and check recent sales. Pick the building that fits your family first, then the unit for its view. The LRT is a bonus for later, not a reason to pay more today.
Sources: Masterplan, phases and launch details from IJM Land and IJM Perennial announcements and The Edge and EdgeProp coverage; Lightwater pricing and completion target from EdgeProp Singapore (November 2025); Merione details from IJM Land's September 2026 launch announcement. Resale asking prices from portal listings (September–October 2026). LRT details from MRT Corp's Mutiara Line site.
If you're weighing one phase against another, or against Tanjung Tokong's Andaman area, send me the unit you're looking at and I'll tell you what I actually think of it, including when the answer is that you should buy something else.