SOME 90 low-cost units costing RM35,000 each will be built in Permatang Damar Laut in Batu Maung, Penang, this year.

Batu Maung assemblyman Abdul Malik Kassim, who is also a state exco member, said the units would have a built-up area of 700sq ft.

Without naming the developer, he said the project would kick off late this year and completed in two years.

He said this to reporters after the balloting for some 50 shortlisted candidates for a separate low-cost project, also in Batu Maung and comprising 88 units in a six-storey building, by Mah Sing Group Bhd.

Malik said so far some 400 units of low-cost properties had been handed over to buyers this year in Batu Maung.

?This include over 300 units handed over earlier this year and the 88 units by Mah Sing which are priced at RM35,000 each,? he added.

Of the 88 units, 73 were given as compensation to squatters in Batu Maung who were affected by Mah Sing?s Southbay Penang mixed-development project.

Seven names were picked from the balloting yesterday to purchase another seven units of the project.

The seven individuals were from a list of 50 eligible applicants for low-cost housing supplied by the State Housing Department to take part in the balloting.

The remaining eight of the 88 units were reserved for sale to those whose homes were affected by Mah Sing?s Residence@Southbay project.

SOURCE: The Star

Wellesley Residences, the fourth phase of Harbour Place township in Butterworth. A total of 401 new units will be built in a 27-storey and 30-storey blocks.

With emphasis on both practicality and appeal, the architectural design simply dwells in the extraordinary. Sensuous, soothing, indulging. Wellesley Residences hides a wealth of undiscovered appeal and character behind its sleek latter-day facade. This is where the possibilities are limitless.

With your peace-of-mind in mind, Wellesley Residences uses a 24-hour security system comprising the “3Cs” that are CCTV, Card Access & Communication Home Security. The adequacy and efficiency of this system means that your well-being and safety is always priority but at the same time, your privacy is never compromised.

Property Project : Wellesley Residences
Location : Harbour Place, Butterworth, Penang
Property Type : Condominium
Tenure : Freehold
Built-up Area: 650 sq.ft. onwards
Total Units : 401
Developer : PJ Development
Indicative Price: RM 191,000 onwards

Taman Jelutong Indah Phase 2 is located along Tun Dr. Lim Chong Eu Expressway, within the established township of Jelutong, Penang.

Property Project : Taman Jelutong Indah Phase 2
Location : Jelutong, Penang
Property Type : Apartment
Tenure : Leasehold
Built-up Area: 900 sq.ft.
Total Units : 382
Developer : JKP Sdn. Bhd.
Indicative Price: RM 190,000 onwards

THE developer of Harbour Place, a new township pro-ject in Butterworth, has launched the fourth phase of its trendy condominiums known as ‘Wellesley Residences.’

The project undertaken by PJD Eastern Land Sdn Bhd is located on a 12.1ha site in the heart of town.

Currently, the township has three existing luxury condominiums and a hypermarket.

A total of 401 new units will be built in a 27-storey and 30-storey blocks.

The project will have a signature chic urban living concept with nine units per floor in a semi-detached setting.

PJD chief operating officer Lim Lian Seng is confident of luring investors to their properties here due to their proven track record.

The company is a subsidiary of a Kuala Lumpur-based develo- per, PJ Development Holdings Berhad.

The parent company has developed highly integrated development projects in various parts of the country.

Lim said the name Wellesley Residences was derived from Se-berang Prai’s former name of Pro-vince Wellesley.

He added that the units were designed to complement and en-hance the requirements of mo-dern urban living.

They were designed to re- energise, rejuvenate and revitalise modern living concepts as the residents would enjoy a sky gymnasium, yoga, aerobic, recreational games, sauna and steam rooms, Jacuzzi, massage facilities, a sky lounge and a viewing deck on the roof-top.

Lim said a 26,666sq meter su-permarket had been planned nearby to provide the conve-nience of shopping for residents at their doorsteps.

Besides that, an educational institution and a 30-storey Swiss-Garden Hotel and Residences hospitality property, are additional facilities for the folks in Butter-worth.

He said the hotel chain owned by the company would start construction at the end of the year.

Source: The Star

Business Times has learnt that CP Land Sdn Bhd, the property arm of the CP Group, has disposed of 40 hectares of land it owns in the Queensbay area at Bayan Lepas to a Penang-based property player.

Sources said the land was sold at RM420 per sq foot (psf) to Asia Green Development Sdn Bhd in May and the transaction is believed to be worth RM160 million.

Asia Green is said to be planning to build serviced apartments on the land, which is currently serving as a parking lot.

The Queensbay development sits on 29.2ha of sea-fronting land on which Penang’s largest shopping centre, Queensbay Mall, and the Eastin Hotel are sited.

The mall was sold by CP Group Sdn Bhd to CapitaMalls Asia last year for RM657 million.

On Monday, property player Ivory Property Group Bhd announced that it had won the rights to buy 41.50ha of land at Bayan Mutiara on the island, which lies south of the Penang Bridge and close to the Queensbay area.

Some 27.34ha are existing land and 14.16ha are to be reclaimed for a proposed mixed development, Ivory told Bursa Malaysia in a statement.

The reserve price of the Bayan Mutiara land is said to be RM200 psf and it is learnt that Ivory’s win-ning bid was RM240 psf, im-plying that total land cost was about RM1 billion.

It is also learnt that Ivory’s payment to the Penang Development Corporation will be staggered over five years and the company intends to embark on its maiden launch of the project next year.

Meanwhile, at a stone’s throw from the proposed Bayan Mutiara development, Boustead Holdings Bhd is believed to be embarking on a reclamation project.

A financial daily last September reported that Boustead will be allowed to reclaim an area “very much less” than 40ha between the existing Penang Bridge and the Penang Second Crossing in Batu Maung as compensation for having had to reduce the height on a 12-storey hotel it is developing at Weld Quay on the island.

Boustead was reported to have submitted a compensation claim of RM60 million to the Penang Island Municipal Council for revoking the initial approval of a 12-storey building in order to comply with heritage status guidelines within the Unesco heritage zone.

Boustead’s initial plan was for a RM140 million development of a four-star hotel with 300 rooms.

Property experts told Business Times that the cost of reclamation per square foot currently stands at RM40 and Boustead is likely to pay RM174.5 million for the reclamation of the 40ha.

It is also learnt that the Penang government will be given 8ha of the 40ha free of charge.

Source: Business Times