fbpx

MRCB: Penang Sentral to take off in 2013

Property News/ 26 November 2012 Leave a comment

MALAYSIAN Resources Corp Bhd (MRCB) says the Penang Sentral project in Butterworth, estimated to be worth over RM3 billion, will begin in 2013 after more than four years of delay.

Penang Sentral, an integrated mixed commercial development was expected to start in 2008 but works got delayed due to land acquisition matters. MRCB was awaiting federal government allocation to fund the public utility project.

It was then reported that Phase 1, comprising the integrated transportation hub with a retail component, worth an estimated RM400 million, would start in December 2010.

MRCB’s property division head of marketing Zamry Ibrahim said construction will begin next year and there would be some changes to the plan, like the incorporation of more green elements in the buildings.

“There is a lot of demand for energy efficient buildings from multi-national companies and local players. We will develop what is required by the market,” Zamry told Business Times in an interview recently.

The 9.6ha Penang Sentral will feature a transport terminal for ferries, buses, taxis, trains and a projected monorail station.

Zamry said the terminal will be integrated and surrounded with commercial, residential and retail components, similar to MRCB’s Kuala Lumpur Sentral integrated commercial hub in Brickfields.

The 28.8ha KL Sentral development, which started over eight years ago, currently comprises a transport hub for rail, buses and taxis, two hotels, a mall, and several residential and commercial towers.

Penang Sentral, which is part of the Northern Corridor Economic Region initiative, will be developed by MRCB and Pelaburan Hartanah Bumiputera Bhd.

The project is poised to be the catalyst of growth to rejuvenate the economy in the northern region.

It has been reported that Penang Sentral is expected to generate economic spill-over effects of over RM8 billion when it is completed in about 10 years.

It is also expected that with the completion of the KTMB electrified double tracking project, train service between Penang Sentral and KL Sentral will be shorten to three hours.

Source: Business Times

Tags:
RELATED PROPERTIES FOR SALE/RENT AT
  1. Indo
    November 28th, 2012 at 09:50 | #1

    another white elephant 20 yrs project

  2. siaokia
    December 27th, 2012 at 10:30 | #2

    @Indo
    the project already started in 2010, but until now still nothing.

  3. Economic Crisis
    December 27th, 2012 at 13:40 | #3

    IJM’s The Light already can see the shape, this Penang Sentral still talk talk talk….can you see the huge different between who runs the company?

  1. No trackbacks yet.
(You can also Login/Register to submit your comment using unique ID)


Comment Guidelines
  • Avoid political discussion.
  • Comments with inappropriate wordings or personal attack may be moderated or deleted.
  • Developer must register before comment. All anonymous comments claimed to be from developer without registration will be deleted.
  • All advertisement in the comment will be deleted. Please contact us for advertising details.



To advertise your property in this page under "Related Properties for Sale/Rent":
 1. Submit your property at PenangPropertySale.com, it's FREE!
 (Please do not advertise your property in the comment)