Penang Property Talk

Penang government yesterday announced that a sum of RM17 billion from an estimated total cost of RM46 billion for the Penang Transport Master Plan (PTMP) project has been approved.

State Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the RM17 billion cost included the Bayan Lepas Light Rail Transit (LRT) from Komtar and the Pan Island Link 1.

He also reiterated that the total cost of PTMP as proposed by its project delivery partner, SRS Consortium, was RM46 billion for the railway and highway which also included three major roads and an undersea tunnel project by Consortium Zenith Construction Sdn Bhd (CSZ).

He said based on the engineering consultant Halcrow’s study in 2011, the report only covered the conceptual studies, at an estimated cost of RM27 billion. There were no detailed studies undertaken.

“The state government had appointed SRS Consortium to implement the PTMP, and the consortium had proposed a cost of RM46 billion after they conducted feasibility study and preliminary engineering design,” he said.

He added that the cost has remained the same so far.

It was reported earlier this month that the Barisan Nasional strategic communications team had questioned the Penang government over the alleged increase of the PTMP cost from RM27 billion to RM46 billion, an increase of RM19 billion.

“What is approved for Phase 1 is less than RM27 billion. What have been approved and will be given the green light to start are the Bayan Lepas Light Rail Transit (LRT) and the Pan Island Link 1 projects, which are just about RM17 billion,” he told reporters here today.

He explained that the Environmental Impact Assessment (EIA) report for the Bayan Lepas LRT project had been submitted to the Department of Environment in May and is currently waiting for the Land Public Transport Commission’s (SPAD) conditional approval for public inspection.

As for the EIA report on the Pan Island Link, it is expected to be submitted by the end of July.

Chow hoped that SPAD which is currently working on the Northern Region Transport Master Plan, would provide the conditional approval for public inspection for the Bayan Lepas LRT project soon.

Source: Bernama

Eco World Development Group Bhd had achieved total sales of RM1.705 billion as at end-May for its financial year ending Oct 31, 2017 (FY2017).

The developer announced today that the group’s six projects in the Klang Valley contributed RM1.33 billion while its seven projects in Iskandar Malaysia raked in RM331 million and its two projects in Penang contributed RM45 million.

Eco World president and CEO Datuk Chang Khim Wah said: “We are fortunate that our projects have been enjoying positive momentum especially the three large-scale developments in the Klang Valley that were launched at the end of the last financial year — Eco Ardence, Eco Grandeur and Bukit Bintang City Centre.”

He shared that the second half of FY2017 will see the launch of three new projects, namely Eco Forest and Eco Business Park V in the Klang Valley as well as Eco Horizon in Penang. These projects are expected to contribute towards the group’s sales in 4QFY2017.

Among the projects by the developer, Eco Ardence has continued to attract buyers with the launch of its first commercial precinct called Ardence Crest on May 13. The precinct saw a solid take-up rate of 80% from the 120 units launched.

Comprising 160 lifestyle shop offices in total, the units offered consist of 2-storey intermediate lots with sizes of 22ft x 75ft and 26ft x 75ft, priced from RM1.8 million and RM2.2 million; and 3-storey corner lots of 42ft x 75ft, priced from RM4.8 million.

According to Chang, the shop offices were well received by purchasers as many wanted to ride on the pioneer advantage of owning the first commercial product in the township.

Find out more and register your interest for Eco Horizon

Meanwhile, Eco World has begun handing over the first phases of products sold at the end of last year, he added. “The target is to hand over approximately 4,700 units of properties sold to our customers by the end of this year and so far, we are well on schedule with more than 3,000 units already delivered to our buyers.”

Source: TheEdgeProperty.com.my

The Penang government welcomes the state’s ferry service being taken over by the federal government linked Prasarana Malaysia Bhd.

Chief Minister Lim Guan Eng said the takeover by the largest public transport provider in the country, bodes well for the future of ferry services, in the state.

He hoped that Prasarana will also have sufficient funds to improve ferry services and bring them to greater heights.

He added the state was confident that a positive outcome would be seen in better ferry services following positive feedback since it started running Rapid Penang bus services.

“The people running Rapid Penang are professionals,” he said at a press conference today.

Lim added Prasarana also plans to introduce catamaran-type ferries to improve services between the island and mainland.

He said the introduction of catamarans will increase passenger loads and ensure the ferry service becomes reliable.

He said it is important to maintain the original design of the ferries to ensure it is maintained for heritage and historical purposes

“I hope Prasarana’s ferry service will be free from any political interference,” he said.

Source: Bernama

Article by Freemind Works

To own our own home is viewed by society as one of the key milestones of being successful. Hence, we will almost always buy a property for our own stay first.

However, with the rising home prices and the fact that our salary or income is still at the level it was 10 years ago, owning a home continue to be a big challenge to many people.

Therefore, to be a smart property investor, you need to have the right strategy or methodology.

To find out more, how to To Buy Your Property For Under RM1,000 and make RM20,000 to RM60,000 A Year, click here:

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#1. You should never buy your first property for own stay. Buy your investment property first.

Firstly, buy a property for investment. Make money buying this property. Rinse and repeat. By doing so repeatedly, you will be able to build up sufficient fund to eventually buy your dream home.

#2. Buy the investment property at below market value.

By following the 15 steps outlined in the Master Key Method®, you can potentially identify a below market value. A property that fits into all the criteria will enable you to make money when buying your investment property. The seed money generated will enable you to buy your next property and slowly build up a sizeable property portfolio.

#3. Maximize your ROI.

Always aim to maximize your ROI when buying your property.

When we invest our hard-earned money in any investment vehicle, one of the most important criteria for us to consider is the Return On Investment (ROI). Using the Master Key Method®, we can increase our ROI up to 2,000%!

If you recall, the recent money game scheme that got busted offered a return of 240%. Based on this high return, many will say that it is a scam. But I’m telling you now that buying the right property can generate even higher returns.

Let me illustrate:

Using the Master Key Method®, you identified a property selling at RM100,000. You buy this property with only RM1,000 and you make RM20,000 from just this one property. Let’s calculate the returns.

(%)ROI = RM20,000/RM1,000 x 100% = 2,000%

That is a whopping 2,000%.

The best part about using this method is that you still own the property and continue to collect monthly rental that gives you positive cash flow and passive income every single month.

I will be sharing more about the Master Key Method® and how you can invest in Property With Under RM1,000 and make RM20,000 to RM60,000 A Year with high ROI, on the following date:

Date: 17 Jun 2017 (Sat)
Time: 1pm – 6pm
Venue: Vistana Hotel

So do block your calendar reserve your seat.

And now for the good news. For readers of Penang Property Talk, you get to attend this workshop for FREE. But only for the first 17.

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Demand for quality homes remained strong despite the current soft market conditions, said Eastern & Oriental Bhd (E&O) senior general manager for group marketing and sales Wayne Wong.

In April, E&O sold 87 per cent of Phase 2 of the Ariza Seafront Terraces, a seafront haven nestled within its award-winning Seri Tanjung Pinang master planned development in Penang.

The price for the units starts at RM2.9 million and above.

These elegant 2½-storey, freehold, terraced homes have an estimated gross development value of RM90 million.

“The heightened interest garnered at the recent Ariza Seafront Terraces private preview is a testament that discerning homeowners’ demand for high-quality homes remains strong despite the current soft market conditions,” he said.

The Ariza Seafront Terraces feature distinctive straits-eclectic architecture and elegant interior courtyards – showcasing the seamless blending of modern living standards with Penang’s old-world charm.

Leveraging on its prime seafront location, Ariza offered homeowners a much-coveted sea-fronting lifestyle at Penang island’s address of choice, said Wong.

Slated to be completed in March 2019, built-ups of the Ariza terrace homes range from 3,488sq ft for the intermediate units to 3,781sq ft for the corner units.

Wong said the well-appointed Ariza homes present a spacious and serene abode for families, with internal courtyards that open to the sky, high ceilings, wide windows and breezy living spaces.

Each Ariza unit comes with four generously-sized bedrooms, with two bedrooms paired with elegant en suite bathrooms and another two with connecting bathrooms, wall-mounted split air-conditioning systems, comprehensive set of kitchen appliances and ample living spaces.

The Ariza Seafront Terraces is among the final set of landed properties within the Seri Tanjung Pinang development.

Phase one of Ariza Seafront Terraces comprises 33 units. It was launched in 2009 and is fully sold.

Source: New Straits Times