Penang Property Talk

Yet another proposed affordable housing by Kobay SB Sdn. Bhd. at Teluk Kumbar. Located on an approximately 1-acre land off Lintang Teluk Kumbar 1, about 5 minutes walking distance from Lexis Suites, and less than 10 minutes drive from Penang International Airport. Communities within 1km radius include Taman Emas Flat, Sunway Aspera, Cascara 88 and Vanilla Bay Villa.

This development will see the demolition of the existing buildings, for the construction of a 31-storey residential tower with 9 levels of multi-storey carpark.

The project is still in its planning stage. More details will be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name: (to be confirmed)
Location: Teluk Kumbar
Property Type: Affordable Housing
Built-up Size: (to be confirmed)
Total Units: 259
Indicative Price: (to be confirmed)
Developer: Kobay SB Sdn. Bhd.

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Aspen Group, through its subsidiary Aspen Park Hills Sdn Bhd, has acquired 29.05 acres (11.62 hectares) of land in Paya Terubong from Geo Valley Sdn Bhd to be developed into mixed-residential development.

Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the seven pieces of freehold land would be developed in phases, comprising among others residential towers with communal facilities, serviced apartment towers and lifestyle retail facilities.

“The proposed development will benefit from existing amenities and infrastructure in a matured residential township, including the ongoing Jalan Bukit Kukus Paired Road Project which eventually will link the Air Itam township to the FTZ area of Bayan Lepas, Penang International Airport and two Penang bridges,” he said in a speech at Aspen Group Hari Raya Open House, graced by Penang Chief Minister Chow Kon Yeow, here today.

Nazir said the project also marked Aspen Group’s first joint-venture with Oxley Holdings Ltd, a Singapore-based property developer.

Source: Bernama

One Hundred Suites & Residences, a commercial development by Atta Global Group at Sungai Nibong. It is strategically located along Jalan Sultan Azlan Shah, diagonally opposite are SJK(C) Shih Chung, SRJK(C) Kwang Hwa and SMK Sungai Nibong. Just a mere minutes walk to future Sungai Nibong LRT station.

This development will features a 23-storey building with a mix of 62 units residential and 38 units office suites. There will also be common facilities at level 7.

More details to be available upon project launch.

Project Name : One Hundred Suites & Residences
Location : Sungai Nibong, Penang
Property Type : Mixed development
Total Units: 62 (residence), 38 (office suite)
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Tetap Gembira Development Sdn. Bhd. (Atta Global Group)

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By Charles Tan

I no longer stay in Penang but I support the Penang South Reclamation (PSR) scheme. The main reason is because it provides funding for Penang Transport Master Plan (PTMP) without which PTMP will not have the fund to proceed. Let’s understand that traffic jams in Penang is also getting worse and there are no alternative roads usually. Connectivity will also enhance business activities which is a good thing for the state and its people. As for the details for PSR and how it will affect the environment and the fishermen’s livelihood for example, that will have to be transparently handled. The latest news is that PSR’s current scale may be resized (downwards) if there are federal funding for its PTMP.

Article in thestar.com.my Chief Minister Chow Kon Yew said, “We can relook at the scale of the PSR project if we have the funding from the government. The size of the land to be reclaimed can be relooked, but the PSR scheme is still needed. We need PSR not only to finance the PTMP, but also to drive the state’s economic development in the future.” The PSR is a massive reclamation plan totalling 1,800ha. This is the size of 3,600 football fields. There will be three man-made islands for PSR; Island A (930ha), Island B (445ha) and Island C (323ha). Island A is seen as a conti­n­­­uation and expansion of the Bayan Lepas Free Industrial Zone (FIZ) while Island B will be “a playground for city planners and architects to give their best design” with a tram system and green spaces. Island C is meant for a mixed development project. Chow said that currently the Department of Environment (DoE) has only approved the Environmental Impact Assess­ment (EIA) of the Pan Island Link 1 connecting Gurney Drive to Tun Dr Lim Chong Eu Expressway near Bayan Lepas Free Trade Zone. For the full article, do refer to Article in thestar.com.my

FIZ is already fully occupied except for some small pockets of land here and there. Given a choice, any electronic manufacturing plant will prefer to be located as near to the island as possible. The reason is not just for logistics connectivity but also for hiring of professionals. Truth is, it’s not easy to hire good talents and get them to work far away from Penang island. island B will be a very interesting model. If it’s successfully carried out, I think it will be a great place to stay too. Perhaps there’s no need to drive! Last but not least, I would like to remind everyone about that important matter too; Penang International Airport. Even after expansion, it’s still considered small if we look at Penang as an entry point into Malaysia from the northern side. By the way, it’s closer to China, for example… Happy following.

Charles Tan – the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 15 years experience as well as from all the readings and conversations with property gurus in the industry. He is presently the CEO of an auction house auctioning assets beyond just properties. (Source)

Taman Desa Harmoni, a small residential development by Loyal Greenworld Sdn. Bhd. at Sungai Dua in Butterworth. Located off Lorong Sungai Dua Utama 21, just a stone’s throw away from SK Desa Murni. It is only less than 15 minutes drive to Penang Bridge via North South Expressway.

This development comprises 17 units of 2-storey terrace houses, with a built-up size of at least 1,800 sq.ft. Indicative price starts from RM550k onwards.

Project Name: Taman Desa Harmoni
Location: Sungai Dua, Butterworth
Property Type: 2-storey terrace
Total Units: 17
Built-up Size: 1,800 sq.ft. & 1,980 sq.ft.
Land Area: 1,690 sq.ft. – 3,165 sq.ft.
Indicative Price: RM550,000 onwards.
Developer: Loyal Greenworld Sdn. Bhd.

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