Ideal Property Group
Maldives Residences
Jalan Sungai Tiram 6, Bayan Lepas
From
RM 498K
RM 460–580 PSF · Completion 2027
This development includes a Rumah MutiaraKu affordable allocation (RM300,000 tier, quota-restricted, not open to foreign buyers). The price shown is the open-market unit price.
Tenure
freehold
Title
residential
Total Units
1665
Completion
2027
- From
- RM 498K
- PSF
- RM 460–580
- Tenure
- freehold
- Total units
- 1665
- Status
- under construction
- Completion
- 2027
Price at a glance
Prices as at November 2026 — Developer prices basis. Last checked 2026-10-13. The project has not completed — no resale market yet.
| Unit type | Size (sqft) | Price from | PSF from |
|---|---|---|---|
| All units | 850–930 | RM498,000 | RM460 |
Zac’s Take
Zac Ong
Maldives Residences is Ideal Property Group's freehold condominium on Jalan Sungai Tiram in Bayan Lepas: four towers of 34 and 46 storeys with 1,665 homes, due around 2027.
Homes are three-bedroom units of about 850 sq ft, plus 930 sq ft dual-key layouts. The project mixes affordable units sold to eligible buyers with upgraded open-market units; the developer quotes an indicative price from RM498,000.
It's aimed at people who work in the Bayan Lepas free industrial zone, a short drive away, and at landlords renting to them. With 1,665 homes in one place and plenty of similar supply nearby, expect competition when you let or sell, so plan on today's rents rather than rises. It's below the RM1M foreign-buyer minimum.
Maldives Residences price list 2026
0 of 1 unit types have a published price · 1,665 units total · completing 2027
| Type | Size (sqft) | Price from | PSF (derived) | Units |
|---|---|---|---|---|
| 2BR / Studio | 850–930 | On application | — | 1665 |
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 2026-10-13. Developers reprice between phases — confirm the current list before committing.
No published unit type clears the RM1M foreign-buyer minimum, but one type is priced on application — those may qualify. Ask before ruling the project out.
2BR / Studio is 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 listMaldives Residences completion date
Maldives Residences is expected to complete in 2027. 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
- 4
- Floors
- 46
- Total units
- 1,665
Facilities
What's nearby
🛍 Shopping
- Queensbay Mall
Monthly Instalment Calculator
Monthly Instalment
RM 2,011
Total Interest
RM 396,626
Total Outlay
RM 894,626
Estimates only — not an offer, quotation, or representation of the developer's actual pricing or package. Actual instalments depend on the bank's approved rate, tenure and margin of financing.
📲 Discuss financing options with ZacOther projects in bayan lepas
All 14 others we track here, cheapest first — 4 of them still selling.
- Tropicana Bay ResidencesRM315K
- Avion ResidenceRM342K
- One ForestaRM395K
- London PavilionRM418K
- Forest VilleRM420K
- Havana Beach ResidencesRM450K
- Solaria ResidencesRM500K
- Tree SparinaRM540K
- SummerSkye ResidencesRM597K
- Lucerne ResidencesRM599K
- The AmareneRM620K
- Goodwood ResidenceRM678K
- SENZE @ PICCRM705K
- Tierra ResidencesRM930K
Bayan Lepas — area snapshot
Full area guide →Bayan Lepas is the island's industrial and tech hub, home to the Free Trade Zone and Penang International Airport. Condo demand comes primarily from professionals working in the area.
Price range
RM 315K – RM 930K
asking prices in area
Active projects
4
selling or under construction
Subsale condos
10
completed projects
Total tracked
15
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 49,800 |
| SPA stamp duty (tiered 1–4%) | RM 8,960 |
| SPA legal fee | RM 6,225 |
| MOT stamp duty (at VP) Tiered 1–4% on transfer value. Paid at Vacant Possession stage. Buyer's cost — rarely absorbed by developer. | RM 8,960 |
| Loan stamp duty (0.5%) | RM 2,241 |
| Loan agreement legal fee | RM 2,241 |
| Valuation fee | RM 1,000 |
| Search, admin, misc | RM 1,000 |
| Gross upfront total | RM 80,427 |
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 Maldives Residences?
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Is Maldives Residences freehold or leasehold?
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Can a foreigner buy at Maldives Residences?
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When will Maldives Residences be completed?
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How big are the homes at Maldives Residences?
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Is Maldives Residences a good investment for Bayan Lepas FIZ rental?
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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 498K
Maldives Residences