ARENA place of pride

The Arena’s overall design is inspired by the ancient Roman amphitheater. Its unique architectural style is not only spectacular but also a breathtaking visual monument to meaningful design. It is destined to be a place of pride for owners and a landmark in Penang.

The Arena is a commercial center mirroring the courageous magnificence of the ancient Roman amphitheater. It is set to be a thriving business hub and an engine for commercial growth by gathering the leading lifestyle proponents under one roof.

This lifestyle building is sure to attract the best in food and beverage, retail, financial services, entertainment, leisure, beauty and fashion to make this the most high profile and popular lifestyle center.

Arena Curve’s unique design differs from the rest as the escalators are outside the building and shops her are given equal prominence to display their offerings to potential customers thereby promoting commercial opportunities and driving business growth.

Super luxurious executive suite, The Arena, takes this development to a whole new level with its unique architectural design to create a superior home environment for the discerning.

Location : Bayan Baru, Penang
Property Type : Commercial, Residential Suite
Developer : Golden Virtue Capital Sdn. Bhd.

Contributed by Reader – Nov/2013

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Sources say SP Setia is likely to get a 30-year concession to build and operate the Penang International Convention Centre

Property developer SP Setia Bhd. has emerged as the leading contender to build the Penang International Convention Centre (PICC) on the grounds of the Penang International Sports Arena (Pisa).

According to sources, SP Setia is likely to get a 30-year concession to build and operate the convention centre, which will include other components like a hotel and retail outlets.

“The proposed project is likely to cost over RM200 million,” one source told Business Times yesterday.

Another source said SP Setia is one of four companies which had responded to a request for proposal from the Penang state government. The Penang Island Municipal Council had closed the tender in September last year.
The other companies said to be in the running are Singapore-based exhibition contractor Pico Global Services Ltd, which has operations in Malaysia, and a host of local contractors.

Pisa (picture) is an indoor sports arena located close to Penang international airport.

The project was completed in 2000 and serves as the largest and most comprehensive multi-purpose indoor venue on Penang Island.

The arena, which is owned by the Penang Island Municipal Council and managed by Penevents Sdn Bhd, boasts an Olympic-sized swimming pool and a spacious air-conditioned area, which has been designed to host conventions, exhibitions and entertainment shows, along with major sporting events.

A source said that if SP Setia succeeds, it plans to build a public rooftop park in the convention centre building.

The proposed PICC, which was initially tagged at RM50 million, has been mired in controversy ever since Penang Chief Minister Lim Guan Eng proposed it.

One of the concerns raised was that the project would incur huge expenditure, which could result in the council becoming insolvent.

SP Setia’s entry into Penang dates back five years to its maiden development “Setia Pearl Island” in Sungai Ara near the Penang international airport.

The project, which is sited on a 45.2ha of land, serves as the company’s flagship project in Penang.

Since then, SP Setia has made its mark in several other property projects dotting the island and these include high-end landed properties in the upscale Jesselton neighbourhood and an upcoming exclusive condominium project facing Penang’s famed promenade, Gurney Drive.

The company is said to be aggressively in expansion mode to increase its landbank in Penang.

SOURCE: Business Times

ASIA Pacific Land Bhd (AP Land) (1716), founded in 1961, was initially involved in textile business, operating under the name of Min Ngai Knitting Factory (Malaya) Sdn Bhd.

It was listed on the Kuala Lumpur Stock Exchange and the Singapore Stock Exchange in 1969. In 1990, it was delisted in Singapore.

The company changed its name to Public Textile Bhd in 1973. It diversified into property development in 1981 and was known as Public Corp Bhd.

In 1983, Public Corp took over the business of Mount Pleasure Corp Sdn Bhd, and changed its name to Mount Pleasure Holdings Bhd.
Mount Pleasure became a major property investor in 1990 when it bought City Square Centre, the country's first integrated commercial development.

City Square comprised the Empire Tower, Crown Princess Hotel and City Square mall, located at the junction of Jalan Tun Razak and Jalan Ampang.

AP Land assumed its present name in 1990. It ventured into oil palm plantation in 1997 and marked its foray in Indonesia's plantation sector in 2007.

In the same year, it sold City Square to MGP I (Mal) Sdn Bhd, which was advised by Macquarie Global Property Advisors, for RM680 million.

Its current projects are myHabitat in Kuala Lumpur, Bandar Tasik Puteri in Rawang, Selangor, and Penang Island Bay Resort.

SOURCE: Business Times

South Homes is nested in the ultimate location for getting to any destination efficiently, near or far! It boasts a short drive to major international travelling gateways such as the airport and Penang Bridge.

Location : Bayan Lepas, Penang
Property Type : Shop-office, Terrace, Semi-Detached
Tenure : Freehold
Developer : Kobay Properties
Contact Number : 04 228 8777 or 019 415 1122

Indicative Price: RM888,000 onwards