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Penang’s mega projects can now be completed earlier

May 27th, 2018 1 comment

LRT-MAP1by Charles Tan

The sky in Penang seems brighter today than before the GE14? I believe in general, Penangites would welcome the announcement by the newly minted Chief Minister Chow Kon Yeow. He said this in an article in TheSunDaily. “Need for Penang’s mega projects to be expedited.” Specifically, he said this in the article, “We have also received requests from Land Public Transport Commission (SPAD) to discuss how best to develop the projects.” Actually, this is a very powerful sentence because it showed that the federal and the state government are now working on the same side. Usually, this meant that there is now speed in everything that’s proposed. As long as the projects are beneficial to the state and its expedited, we are definitely looking at much brighter prospects for Penang moving ahead. Yes, also the property market even if everyone must still buy carefully because the number of unsold units remain high. Here’s an earlier article.

Some of the projects being classified as state mega projects are the underwater tunnel project which includes the construction of three major highways, the Southern Penang reclamation project, Penang Sky Cab and Light Rail Transit (LRT) with an estimated total cost of RM46 billion. Chow said that the implementation of the two major highways connecting the Tun Dr Lim Chong Eu Highway to Air Itam and Tanjung Bungah to Teluk Bahang under the Zenith Consortium will start first since both of these major highways has received Environmental Impact Assessment (EIA) approval. These mega projects are under the Penang Transport Master Plan. It will help to overcome traffic congestion in Penang and also connect the island to Seberang Perai. They are the 7.2km undersea tunnel project which will connect Persiaran Gurney to Bagan Ajam in Seberang Perai. The main highway construction comprises the 10.53km from Tanjung Bungah to Teluk Bahang, the Air Itam-Tun Dr Lim Chong Eu Expressway and the Persiaran Gurney-Tun Dr Lim Chong Eu Expressway. Full article in TheSunDaily.

For owners with homes in Penang today, you have made a great choice of buying and waiting. 🙂 Well, to those who believe the new CM of Penang, I guess it’s time that viewings start? Perhaps not yet the buying stage but the viewing stage can certainly start because property investment takes a lot of time to complete. Earlier article here. As for the actual projects that will proceed, I think it’s important that the it goes through the right stakeholders so that it is really beneficial to the state and not because it was something that was delayed and now it should be expedited. Connectivity is extremely important but the state government should also have an overall plan for the development of Penang for the next 5 years,10 years and more. I think this is the best time to sit down with the relevant stakeholders and discuss objectively. The element of ‘I am not on your side’ has been cast aside. We only have the Malaysian side today as demonstrated by majority of Malaysians. Happy investing.

>> This guest article comes courtesy of my friend, Charles, the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 14 years experience as well as from all the readings and conversations with property gurus in the industry. (Source)

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Pulau Jerejak world class development approved

May 25th, 2018 21 comments

pulau-jerejak2

Majilis Perbandaran Pulau Pinang (MBPP) has allowed the developer of buildings at Pulau Jerejak to demolish the buildings, paving the way for redevelopment of the island, reported The Star.

The developer Tropical Island Sdn Bhd has been given planning permission with conditions – namely to not encroach on the island’s forest reserve – to undertake the project, said mayor Yew Tung Seang.

“It’s still in early stages as there are number of conditions attached which would need to be carried out after the demolition of the structures are completed,” he said.

According to the initial plan, this development will see the demolition of existing hotel buildings for the construction of luxury hotels and residences in multiple phases:

  • Phase 1: 10-storey hotel with 350 rooms and a 4-storey clubhouse
  • Phase 3: Three blocks of 10-storey serviced residence with shop offices
  • Phase 4: Two blocks of 10-storey condominium and 4-storey villa
  • Phase 5: 10-storey serviced residence

It was previously reported that there were plans to permanently gazette hundreds of acres on the island into a forest reserve, but those plans have not materialized yet.

 

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Guided tour at Mont Residence – 2 & 3 June 2018

May 24th, 2018 Comments off

You are cordially invited to visit the newly completed Mont Residence at Tanjung Tokong on 2/6 and 3/6, and experience the unique offering by this lifestyle condominium.

mont-residence-tour-3

Register for Mont Residence guided tour to find out more about the special package offered.

Register your interest here for Mont Residence tour

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Date/Time
2 & 3 June 2018
3:00PM – 6:00 PM

Venue
Mont Residence Condominium
Mount Erskine, Tanjung Tokong

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Location Map

Center map
Traffic
Bicycling
Transit

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Overwhelming take-up rate at Utropolis, Batu Kawan

May 22nd, 2018 No comments

utropolis-under-construction

Utropolis @ Batu Kawan, is a 44.3 acres self-contained mixed commercial development by Paramount Property in Batu Kawan anchored by the flagship KDU Penang University College campus. The project which was featured at Penang Property Talk portal in the mid-year of 2016 generated a significant query, is the Penang Smart New City.

Sensasi, the Phase 1 of the 44.3 acre (17.9ha) Paramount Utropolis project recorded a strong take-up rate of 91% since it launched in December 2016. Sensasi, comprises a total of 808 units where 612 units are serviced apartments and 196 units are commercial units, is currently 60% complete and it is on track to be ready by Q3 2019.

Find out more about Utropolis @ Batu Kawan

Following the strong and overwhelming take-up rate of Sensasi, Suasana is the second phase of Utropolis @ Batu Kawan. A purely two towers residential component encompasses 491 serviced apartments, it is priced between RM500,000 and RM670,000 comes in three sizes – 926sq ft, 1,076sq ft and 1,313sq ft. Designed with elegance in mind, Suasana Tower A offers 247 units was recently launched in November 2017 and it continued to indicate an impressive take-up rate. At present, the Suasana Tower A is 60% sold just within 5 months from its launched date. It is slated to complete by December 2021.

 

Utropolis has proved to be the sought-after project due to its close proximity to several exciting development namely KDU University College and IKEA furniture store. The impressive response on Sensasi and Suasana does not only demonstrated a strong attraction in Batu Kawan but also affirms that a vibrant, stunning and thriving township will surface soon.

Register your interest here Suasana @ Utropolis

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

The New Era in Property Investment (26 & 27 May)

May 22nd, 2018 Comments off

Setia flyerGM Training Academy will be organizing two days talk on a very interesting topic “The New Era in Property Investment”.

Many people have many unanswered questions in mind.

  • What is the state of property market now?
  • Should I invest in property now?
  • The do’s and don’ts in property investments.
  • What are the things we should be looking at before committing our purchase?\
  • What is the impact on properties after election? Is it good or bad?
  • Going forward what strategy should I use?
  • Know more about Penang as a destination for property investments.
  • Everyone is talking about AirBNB. What is that?

No worries, there will be 3 prominent speakers in the property industry who are excited to share with you their experience.

Date: 26th & 27th May 2018 (Saturday & Sunday)
Time: 1:00 pm – 5:30 pm
Venue: Setia Tri-Suites @ Setia Tri-Angle (besides McDonald), 3, Persiaran Kelicap, 11900, Penang
Contact: 012-492 1226 (Calvin)

* You are welcome to attend networking session with the speakers at 1pm
* Light refreshments will be served
* Talk will starts at 2pm

Please Click Here to register

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