IJM Perennial Development Sdn Bhd
Lightwater Residences
The Light City, Gelugor, Penang Island
From
RM 2.05M
Completion 2029
Launched February 2025 from about RM2.05M (RM1,780 psf). EdgeProp Singapore (Nov 2025) reported starting prices of about RM2.085M (1,152 sq ft 2-bedroom, RM1,810 psf), RM2.642M (1,410 sq ft 3-bedroom, RM1,874 psf) and RM3.154M (1,690 sq ft 3-bedroom + study). Completion target 1Q2029.
Tenure
freehold
Title
residential
Total Units
262
Completion
2029
- From
- RM 2.0M
- PSF
- —
- Tenure
- freehold
- Total units
- 262
- Status
- under construction
- Completion
- 2029
Price at a glance
Prices as at November 2026 — Developer prices basis. Last checked 2026-10-10. The project has not completed — no resale market yet.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 1,152–3,186 | RM2.05M | ~RM1,780 |
Zac’s Take
Zac Ong
Lightwater Residences is IJM Perennial's freehold condominium at The Light Waterfront in Gelugor: 262 homes in two 34-storey towers, targeted for completion in the first quarter of 2029.
There are eight layouts, from 1,152 sq ft two-bedroom-plus-study homes priced from about RM2.05M (around RM1,780 per sq ft), through three-bedrooms of 1,410 to 1,561 sq ft from about RM2.64M, up to 3,186 sq ft.
You're paying for a master-planned waterfront address with the convention centre, the shopping and the promenade around you, and it's priced near the top of Penang's market. It suits buyers who want the best-finished address at The Light rather than value per sq ft. Every unit clears the RM1M foreign-buyer minimum.
Lightwater Residences price list 2026
0 of 5 unit types have a published price · completing 2029
| Type | Size (sqft) | Price from | PSF (derived) | Units |
|---|---|---|---|---|
| A2-bedroom | 1,152 | On application | — | 0 |
| A12-bedroom | 1,152 | On application | — | 0 |
| A22-bedroom | 1,152 | On application | — | 0 |
| B3-bedroom | 1,410 | On application | — | 0 |
| C3-bedroom + study | 1,690 | On application | — | 0 |
PSF is derived, not quoted — each row divides that type's price by its own square footage. Developers do not always state whether a published size is built-up or nett, and the two can differ by 20%. Ask for both in writing before you sign.
Developer price — the project has not completed, so there is no resale market to compare against, last checked 2026-10-10. Developers reprice between phases — confirm the current list before committing.
No published unit type clears the RM1M foreign-buyer minimum, but 5 types are priced on application — those may qualify. Ask before ruling the project out.
5 unit types are priced on application
Usually the penthouses and duplexes — developers hold those back rather than publish them. I can get you the current figure and the floor plan directly.
📲 Ask for the current price listLightwater Residences completion date
Lightwater Residences is expected to complete in 2029. It is under construction now.
Read that as the developer's target, not a guarantee. What matters contractually is the vacant possession date in your SPA — 36 months from the sale and purchase agreement for a strata title under the Housing Development Act, with liquidated damages payable if the developer misses it. A launch year quoted in marketing and the VP date you can enforce are different things, so check the SPA schedule before you plan a move-in or a tenancy.
Building specifications
- Blocks
- 2
- Floors
- 34
- Total units
- 262
- Lifts per floor
- 6
- Ceiling height
- 3.00m
- Maint. fee
- RM0.44/sqft
- Security tiers
- 5-tier
Facilities
What's nearby
🏥 Healthcare
- Hospital Lam Wah Ee
- Penang Adventist Hospital
🎓 Schools
- SMK Datuk Hj. Mohamed Nor Ahmad
- Universiti Sains Malaysia (USM)
🛍 Shopping
- Queensbay Mall
End-financing panel banks
Banks pre-approved for Lightwater Residences — approach any of these for a faster loan approval process.
Pre-approved banks as at launch. Confirm current status with your preferred bank directly.
🌏 Foreign buyer info
Every published price clears the RM1M island minimum. Tower A launched first; about 20% of its early buyers were foreign (EdgeProp SG, Nov 2025). Confirm unit-level foreign eligibility with the developer.
See also: Penang foreign buyer guide →
💎 Premium tier — what actually matters
At this price tier, buyers care about a different set of numbers
Most Lightwater Residences buyers pay cash or use private banking — so monthly instalments aren't the metric. The questions Zac gets asked are:
- · Resale liquidity — how long to find a buyer in 5 years
- · Capital appreciation — what the area has done over 3, 5, 10 years
- · Carrying cost — maintenance + tax + utilities, not loan
- · Estate planning — title structure, inheritance handling
- · Foreign buyer levy & consent — true total cost basis
- · Lawyer / private banker network — who handles transactions well
Other projects in gelugor
All 16 others we track here, cheapest first — 5 of them still selling.
- Zen6RM565K
- Merione GrandRM693K
- STARK TowerRM700K
- Pearl RegencyRM790K
- Keeperz SuitesRM844K
- The Light LinearRM850K
- The LighthauzRM890K
- Mezzo @ The Light CityRM1M
- Middleton @ Minden HeightsRM1.08M
- The Light Collection IRM1.3M
- The Light Collection IIRM1.45M
- Merione ResidencesRM1.58M
- The Light Collection IVRM1.73M
- The Light PointRM1.8M
- Vilaris Courtyard HomesRM1.86M
- The Light Collection IIIRM1.9M
Gelugor — area snapshot
Full area guide →Gelugor is a central island location close to USM and the Light Waterfront. Infrastructure is established, and The Light Waterfront development has lifted profile significantly.
Price range
RM 565K – RM 1.9M
asking prices in area
Active projects
5
selling or under construction
Subsale condos
11
completed projects
Total tracked
17
properties in this area
Total Cost Breakdown
Every cost you'll pay — stamp duty, legal fees, loan documentation, foreign levy. Real Penang numbers, not generic Malaysia estimates.
| Downpayment | RM 205,000 |
| SPA stamp duty (tiered 1–4%) | RM 66,000 |
| SPA legal fee | RM 19,650 |
| MOT stamp duty (at VP) Tiered 1–4% on transfer value. Paid at Vacant Possession stage. Buyer's cost — rarely absorbed by developer. | RM 66,000 |
| Loan stamp duty (0.5%) | RM 9,225 |
| Loan agreement legal fee | RM 9,225 |
| Valuation fee | RM 3,500 |
| Search, admin, misc | RM 1,000 |
| Gross upfront total | RM 379,600 |
New launch — typical developer savings
Toggle what the developer is absorbing. Confirm the actual package before signing.
Net upfront (after savings)
Based on typical 2026 new launch package
Estimates only, based on 2026 Penang state rules — not an offer, quotation, or representation of the developer's actual package. Actual costs vary by bank, lawyer, and case complexity. Confirm exact figures with Zac →
Frequently asked questions
What is the price of Lightwater Residences?
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Is Lightwater Residences freehold or leasehold?
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Can a foreigner buy at Lightwater Residences?
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When will Lightwater Residences be completed?
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How big are the homes at Lightwater Residences?
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Is Lightwater Residences part of The Light Waterfront?
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Substitutes worth comparing
Open full comparison →Same area family, same property type, similar price band — what most buyers actually cross-shop.
From
RM 2.0M
Lightwater Residences