My Property Deals by Scott Seow

My Property Deals

Rubica @ Harbour Place by OSK Property

rubica harbour place - contact Scott for more info +6011-1098 4066

Rubica Harbour Place By OSK Property

Table of Contents

Rubica Butterworth, Penang

Rubica Harbour Place, Butterworth, Penang

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Rubica Harbour Place, Butterworth LOCATION

Who is the developer? – OSK Property

rubica harbour place osk property - contact Scott for more info +6011-1098 4066
OSK Property

OSK Property is launching a new development at Harbour Place, Butterworth, Penang. Rubica, a serviced suite apartment at Jalan Assumption near the famous Jalan Chain Ferry and Jalan Raja Uda, Butterworth, Penang. With a total level of 34-level high, the apartment is just a stone’s throw away from Luminari, also a project by OSK Property.

Total unit of Rubica shall be 230 serviced suite units with five (5) types of unit layout, along with the facilities podium located on the 11th floor.

Key Features / Summary of Rubica Harbour Place

Property Type

Rubica is built in serviced apartment

Tenure

TBU

Developer

OSK Property

Maintenance Fees

to be updated

Built up / Size

From 946 sq ft to 1,335 sq ft ; 3 to 4 bedrooms & balcony

Date of completion

TBU, personally estimate 2027 +/-

Total Units

Total level: 34
Total Unit: 230

More About Rubica Harbour Place

Rubica is surrounded by amenities such as eateries, wet market, hypermarkets, mall, schools, colleges, hotels, banks, clinics, hospitals and etc.

Rubica is located just 1.5km away from Penang Sentral for public transport purpose. You can take the ETS train service to travel to important landmark such as KL Sentral in 4 hours.

layout to be updated

  •  Bedrooms
  •  Bathrooms

Layout to be updated

  •  Bedrooms
  •  Bathrooms

Facilities & Floorplan of Rubica Harbour Place

  1. To be updated

Residents will also get to enjoy an unobstructed panoramic sea view of the iconic Penang Bridge and Penang Port from Rubica, depending on the direction of units.

Rubica review

Is Rubica Harbour Place a Good Buy ?

Our Analysis / Opinion

Own Stay Purpose

2.5/5

Never heard much complaint about OSK Property’s project if compared to certain developer which I definitely cannot mention here. Quality wise I would say ok.

Reason I’m rating 2.5 for Rubica @ Harbour Place is because of its serviced apartment nature. If I’m not mistaken few years ago there’s cases going on in Luminari Residences and there was a fight took place among the AirBnb / short term stay visitors with the security guards. (correct me if I’m wrong)

Hence, due to the grey area of serviced apartment I can’t determine yet if this is a good place for your own stay purpose unless the developer already sign the agreement with purchaser that this project will not be for AirBnb or short term stay purpose.

Investment

2.7/5

With the current market conditions, slightly better than Covid-19 timing but still the price are hanging, you should expect an annual ROI of rental rate around 2% to 4% (if you’re lucky) 

Return on Investment ROI

2.7/5

ROI in terms of rental rate for Rubica shall be around 2% to 4%

Rental & Cash Flow

2.7/5

If you’re ok with the rental income of Rm 800 to Rm 1,800 per month I think you’re safe to pick up a unit as your investment. This is just based on my very very conservative estimation, if you can get higher rental, congratulations.

How easy to sell in the future ?

2/5

Not gonna be an easy job to sell it in the foreseeable future if government does not come out with incentive for secondary market and there’s a few choices of serviced apartment here as well compared to the new added Rubica to the master plan as at May 2022 such as Luminari Residence.

Others

3/5

Be careful of what the agent / developer’s staff told you. Because this is a serviced apartment therefore it will be qualify to operate AirBnb & short term stay.

If you’re an investor you need to be careful as well as certain over-promising sales representative will tell you “yes we can operate AirBnb” but in the end when VP you collect your keys that time you saw a big banner “NO HOMESTAY” then gg.com.

Because this is a grey area for serviced apartment, If you hate homestay and Rubica is your only choice then my suggestion is you need to join the AGM to ban homestay and vice versa if you’re investor want to operate AirBnb/ homestay business then you also need to involve in the AGM to voice out / to vote in favour of AirBnb.

Disclaimer:
I do not represent developer and any party regarding this project Rubica @ Harbour Place.
Please kindly proceed to OSK Property Sales Gallery should you need more information
Information are gathered from Penang Property Talk & PropertyGuru

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Scott Seow

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