1999

Ivory Properties Group was established on 30th June 1999 and has since made a steady progress in undertaking and completing a multitude of impressive development projects. Ivory Properties Group had a humble start with only 5 office staff based on the 4th floor of Island Plaza in an office of less than 700 sq ft. Ivory began embarking on its maiden property development project the RM104.4 million Tanjung Park Condominium in mid 1999 and officially launched the project six months later during the Chinese New Year of 2000. Over 80 units were sold in the first day of this 298-unit project that marked the beginning of the remarkable story of Ivory Properties Group.

2000

Between mid 1999 and 2000, an additional 32 new staff were hired. The single unit office doubled up and tripled within the next 6 months so as to accommodate the growing number of staff. The 3 units of office space were renovated turning nearly half of it into a boardroom, marketing gallery and technical department. In year 2000, the staff had their first annual dinner at Oriental Seafood Restaurant at Gurney Drive.

2001

In 2001, Ivory had 88 staff in total and they were all witnesses to the launch of Ivory’s second project, Plaza Ivory, at Vistana Hotel.

2002

This was the year that saw Ivory becoming one of Malaysia’s few developers with a complete in-house technical and construction departments set-up. It was also the year a prestigious member of Ivory’s landmark projects, The View Twin Towers was launched. There was a total of 142 staff.

2003

In 2003 Ivory completed two of its first projects, Plaza Ivory Commercial and Tanjung Park Condominium.  When Tanjung Park Condominium was completed, the value of the property had appreciated by as much as 40% resulting in windfall profits for all investors. The stunning success of the project amidst the Asian financial crisis and against all market predictions marked the unmistakable emergence of Ivory Properties Group in the highly competitive Penang property market. The long serving staff enjoyed the fruits of Ivory’s success as it organized a study trip to Hong Kong for the first time.  

2004

On 9th September 2004, Plaza Ivory was completed. The RM125.7 million Plaza Ivory mixed-use development project also comprised Palace Hill, a prestigious low-density residential development comprising 3 storey semi-detached homes and bungalows of classical French architectural designs. An office was set up at Plaza Ivory where the technical department was first to move in.  Birch The Plaza, Penang Times Square’s phase one was also launched this year.

2005

In February 2005, Ivory’s most ambitious and significant development Penang Times Square commenced its construction. Located in the heart of historic George Town, its carefully assembled components and development concepts would mark Penang’s grand entry into the ‘World of Times Square’.  This was also the time when Ivory’s corporate office was established at Birch House, the century old historic building sited within Penang Times Square development. Also in the year, a study trip was organised to Shang Hai.

2006

Completed in December 2006, The View Twin Towers luxury condominium set a new milestone in condominium design with its distinguished architecture. The widely acclaimed project appeared on the front page of Star newspaper not once but twice, and was recognized as the symbolic gateway to millions of visitors to the beloved Penang Island each year.  Birch Regency, Penang Times Square’s phase two was launched. Also launched in the year was Moonlight Bay, a luxurious gated and guarded community residential development sited on the scenic hill of Batu Ferringhi.

2007

By the year 2007, Ivory grew to 240 numbers of staff. There were several study trips organized where staff visited Korea, Hong Kong and Bangkok. There was also a preview of another Ivory’s grand development at Batu Ferringhi called Island Resort comprising condominiums, resort villas and bungalows.

2008

In 2008, Ivory ventured out from Malaysia to expand its horizon in Medan as there were a great number of Medan purchasers. Ivory Medan office was established and opened on 17th January 2008. Ivory started off its exclusive project, Moonlight Bay comprising only 70 units of luxurious villas and 20 units of condo villas. It was also the year when Birch The Plaza, phase one of Penang Times Square was completed. In July, the company organized a study trip to Lake Toba, Medan. The number of staff totaled 351.

2009

In June 2009, Ivory turned a decade old. There were a total of 419 staff. Penang Times Square opened its doors to Birch The Plaza’s residents, retailers and shoppers.  A signing ceremony between Ivory and Suiwah Supermarket & Departmental Store was held where Sunshine City became the anchor tenant for Penang Times Square’s phase one.  The Peak Residences, the most affordable lifestyle high end condominium at Tanjung Tokong was unveiled to the public.  Ivory proudly ventured into the food business by becoming the franchisee of Marrybrown. Two outlets were officially opened this year at Penang Times Square and Plaza Ivory.

2010

On 6th February 2010, the Official Grand Opening for Penang Times Square’s phase one took place with a host of exciting events held throughout the month, coinciding with the Chinese New Year celebration. The opening ceremony was officiated by Penang Chief Minister, YAB Tuan Lim Guan Eng.  An official prospectus launching ceremony was held on 12 July 2010 at AmBank Group’s headquarters. The balloting of public issue shares was carried out on 21 July 2010. Ivory’s 9.3 million shares allocated for public subscription was oversubscribed by 2.19 times. Its listing on the main market of Bursa Malaysia Securities Berhad took place on 28 July 2010.