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IKEA in the making!

September 14th, 2015 Leave a comment

Poll to find name for Penang’s new, intelligent, satellite township

14092015_lim_guan_eng_at_groundbreaking_of_Aspen_Vision_City_tmi_pic

Groundbreaking of Aspen Vision City in Batu Kawan, Penang

The people will have a say in the naming of Penang’s new, intelligent, satellite township on mainland Seberang Prai.

The township is in Batu Kawan, in the southern Seberang Prai district, Chief Minister Lim Guan Eng said today.

He said state investment arm Penang Development Corporation (PDC), which owns the land in Batu Kawan, was in the process of demarcating the areas to be included in the new township.

“We expect it will take about a month for PDC to determine the areas for the new township. Once that is done, we will start an online poll so that the people can give their input on what we should name it.
“The online poll may be for two months or even six months. We will make the announcements in due time,” he told reporters after the groundbreaking of the Aspen Vision City project in Batu Kawan this morning.

Lim had recently said that there was a need for a name for the new township, which was transforming the old, quiet town of Batu Kawan. The plan had earlier caused some confusion and had met with the disapproval of researchers and historians interviewed in Chinese newspapers.

Lim said the new name would not replace the old name Batu Kawan, as the area itself would still remain apart of the new development.

“Batu Kawan will still be here as a part of this larger satellite township, which we envision will grow into a metropolis in the future,” he said, stressing that the area, where Fortune 500 companies were present, remained important to Penang’s economy.

While the actual boundaries of the new township are yet to be disclosed, Lim had previously said that the southern Seberang Prai district, which is also seeing new developments, could be included in the plan.

Aspen City Vision, a mixed development with a gross value of RM8 billion, is also expected to change the landscape of Batu Kawan.

The project is a joint venture between the Malaysian Aspen Group and Ikano Pte Ltd, which owns the Ikea franchise in Singapore, Malaysia and Thailand. The partnership is also bringing the famous Swedish furniture retailer to Penang.

Ikea in Batu Kawan will be the brand’s first outlet in the northern region. The store is expected to be ready in 2018, along with Aspen Vision City’s phase one, Vervea, the biggest gated and guarded commercial precinct in northern Malaysia.

Aspen Group chief executive officer Datuk M. Murly said the project would change the landscape of Batu Kawan and beyond, as neighbouring areas would also benefit from the new developments.

Source: TheMalaysianInsider.com

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  1. eric
    September 15th, 2015 at 10:42 | #1

    Horray… Ikea is coming……Ready by 2018!!!!!!!!

  2. Pot of Gold
    September 15th, 2015 at 12:59 | #2

    Wah. So VVIPs on the groundbreaking ceremony. Sure win liao lor. Faster invest :-)

  3. Kaz
    September 15th, 2015 at 14:46 | #3

    IKEA was supposed to come to Johor. Open by 2012. Then nothing. Don’t know what happened. Maybe too much competition to Singapore IKEAs? Best of luck with this one.

  4. ang
    September 15th, 2015 at 21:20 | #4

    Would you buy the property in batu kawan just because of IKEA?, think about it and twice. : )

  5. Suba
    September 16th, 2015 at 11:15 | #5

    Nicely done! Batu kawan will boom boom boom!!!

  6. Property
    September 16th, 2015 at 13:16 | #6

    With new development in a place will definitely change the landscape of the any
    area. Trying to boost their sales in Batu Kawan with the help of Ikea is not going
    to move anything to this mosquitoes swampy jungle.

  7. tan32
    September 16th, 2015 at 13:36 | #7

    Property :
    With new development in a place will definitely change the landscape of the any
    area. Trying to boost their sales in Batu Kawan with the help of Ikea is not going
    to move anything to this mosquitoes swampy jungle.

    also with limited road accessibility.

  8. liverpool
    September 16th, 2015 at 15:03 | #8

    Batu Kawan development not just about IKEA only. there’s more n more project on going recently, university, hospital, commercial, industry, penang design village, and ecoworld project. This place is going to transform entirely with its big land. Would you consider buy property here with all those project already confirmed planned? For me….yes, you make the choice !

  9. InvestLah
    September 16th, 2015 at 15:49 | #9

    I remember years ago when people were sceptical about investing in Sungai Ara. Same words. Ulu, limited access, mosquitoes, backwater area … those same words are slapping those people right now in the face.

    The difference between a person of success with others is the ability to see opportunity and by weighting the risk factor, is able to accept the risk level, then invest wisely.

    The “island” mentality is a thing of the past as people are more connected now. It may take year for Batu Kawan to ever become something like Georgetown or Gurney but with the current market slowdown, matured areas are appreciating slower than up-coming locations.

    Coupled with big players such as Eco World, a new benchmark will be set. This is evident by their recent Eco Meadows launching with more than 80% take up rate and pricing above RM700K. Tambun Pearl City’s terraces are going at about RM550K only.

    Then again, it’s your money. You decide where you want to invest. The fact are out there. You can choose to be ignorant, sceptical or a critic but in just a couple of years, who is right and who is wrong will be determined.

  10. IKEA4LIFE
    September 16th, 2015 at 15:55 | #10

    It may not be all about IKEA but a lot is about IKEA.

    For those Penang people that don’t know, a second IKEA is opening in Cheras. They started construction a year ago and rumour or news of it started since 2012. Go check it out. BOTH residential and commercial properties nearby or within 5km proximity of the IKEA mall.

    The prices have almost tripled since 2012! I won’t say prices in Batu Kawan will triple due to the difference in economic situation now but it will definitely create value and appreciation to the surrounding. I’ll put my money in the up-coming residential properties.

  11. Buyer
    September 16th, 2015 at 16:05 | #11

    @Kaz

    The IKEA development in Johor is postponed to my internal information.

    If you think logically, this can be explained. If IKEA opens in Johor who is their target customers? Johorians mainly. That’s a population of about 3.5m. This number will further split to Muar and JB, whereby Muar is closer to KL than to JB. Singaporeans won’t come over cause there are already 2 IKEA stores in Singapore. Malacca and Pahang people will likely to travel to KL to shop there since it will be about the same travel distance.

    However, placing an IKEA in the Northern region is more strategic. This will cover Perlis, Kedah, Penang and northern Perak. Southern Thailand is also very possible as Thailand’s IKEA is in Bangkok. This covers a rough population of 5m excluding Thais.

    So, the delay in Johor’s IKEA is just purely business decision of prioritising which area to come first.

  12. Property
    September 16th, 2015 at 16:17 | #12

    “You can choose to be ignorant, sceptical or a critic but in just a couple of years,
    who is right and who is wrong will be determined”.

    1) How to compare Sg. Ara to Batu Kawan even if it’s 20 years ago ?
    Batu Kawan has nothing and far away in the swampy mainland.
    2) The “island” mentality is a thing of the past.
    It happens only to you!!!!
    3) Big players such as Eco World ?
    The location will determine the success of an area and not a company.
    4) Money wise you are totally wrong to invest in such an area.
    Investors will not put their money in this uncertain or “dead” location.

  13. InvestLah
    September 16th, 2015 at 16:40 | #13

    @Property

    That’s your Opinion. I respect that. Don’t invest then. I believe you are a successful property investor with millions of property worth in your asset portfolio.

    Different players or investors have different risk appetite. My cup of tea may not be your type and vice versa.

    The success or failure in Batu Kawan can be seen in a matter of time. Let’s put a timeline of 10 years. Currently Dedaun Bungalows are going at about RM1.1m. Let’s see it’s worth in 10 years.

    For your information, Batu Uban and Sungai Nibong was a swampland as well 25 years ago. After the IJM reclamation project and the Jelutong Express Highway was constructed, new areas such as Sungai Pinang IJM, Bayan Mutiara & FTZ expansion was created. You may be too young to realise know this but this fact is available at Jabatan Tanah Pulau Pinang.

  14. Property
    September 16th, 2015 at 17:16 | #14

    @InvestLah

    My opinion is better than taking this high risk area. Why not compare Butterworth
    with Batu Kawan ? That will be more appropriate than comparing with Penang
    island.

    For your information,some parts of Batu Uban were cemeteries.

  15. ==
    September 16th, 2015 at 18:04 | #15

    compare with long time ago, may be only 20% investor and demand for properties so high sure can earn alot, but now dif story, if 90% investor, imagine how u sell ur property? u can see properties like sungai ara now, bundle of property list, price keep reduce day by day…

  16. shit
    September 16th, 2015 at 19:58 | #16

    @Property
    Location will determine the success of an area. How do you identify good location and bad location? Can you further elaborate of your said statement? Location is fixed (dead) you cant move the only way is to develop. With good developments, assibility, infrastructure, amenities can make a location become a good location. Do you agree?

  17. Property
    September 16th, 2015 at 20:48 | #17

    @shit
    “How do you identify good location and bad location”?

    I only know going by the present environment in Batu Kawan is a bad location
    and full of mosquitoes. Just compare Batu Kawan with Butterworth.

  18. boom?
    September 16th, 2015 at 20:57 | #18

    Last time many ppl said second bridge will boom the place, where is the boom?

  19. Island
    September 16th, 2015 at 21:25 | #19

    @boom?

    Only “brooms” sweeping empty houses.

  20. sacker
    September 17th, 2015 at 00:04 | #20

    Aiya, no need to argue lah. If you have money, Gurney-Tanjung will be the place to invest. If not that loaded, then Batu Kawan. Forget about Sg. Ara or Balik Pulau, these places will be marginalized.

  21. Steve
    September 17th, 2015 at 06:46 | #21

    For me investment in property in all about location and land value.
    The house itself is depreciating and the land is appreciating as it goes. Particularly in an area where there is scarcity of land such as in Penang island. I never buyer condo or apartment in my investment portfolio . Location it all depends on the risk versus reward . Of course it depends on your affordability as well. Let me put it in this way I would buy a landed property in batu kawan rather than a tiny bird nest in Penang island. Just my humble opinion

  22. InvestLah
    September 17th, 2015 at 10:19 | #22

    @Property

    How do you define “high risk”? If I invest in Batu Kawan landed which is about RM400K now my risk is only RM400K. If you invest in a condo in Tanjung Tokong, let’s say Tamarind, that would be about RM650K at early bird launch. If you compare absolute price, the risk is also higher. If you compare psf. price, the psf. is more than double at T.Tokong. If you do a 24 months pricing research on both location, facts will prove that pricing in T.Tokong is appreciating slower than B.Kawan. So obviously we have different risk opinions.

    For your information many parts of Penang have cemeteries as well and are now insanely priced. Marina Bay, All Seasons Park, BLVD, Shineville …

    So far all your remarks have been negative. A development in Penang is better than no development at all. IKEA in Penang may not be the only factor to create demand but IKEA will definately create job opportunities. Easily more than 200 jobs.

  23. sacker
    September 17th, 2015 at 10:45 | #23

    @InvestLah

    You said – “If you do a 24 months pricing research on both location, facts will prove that pricing in T.Tokong is appreciating slower than B.Kawan”. That is not true, unless you take the highest data point in Batu Kawan to compare with the lowest data point in Tanjung Tokong…:)

    So it’s like you take the richest person in a kampung, to compare to the poorest person in the city, and then conclude that people in the kampung are richer than those in the city….:)

    I’d like to hear your response to that….:)

  24. sacker
    September 17th, 2015 at 10:56 | #24

    @Steve

    Your opinion is very humble, but flawed.

  25. InvestLah
    September 17th, 2015 at 14:21 | #25

    @sacker

    Why can’t someone from the a village cannot be richer than from someone from the city? If you don’t know, go ask Citibank. Their data will show that BM people are cash rich and possibly richer than many “rich” people from the city.

    Anyway, my point earlier if you misinterpret is nothing about who is richer than who. It is about the growth of the property value. Since 2013, if have the property subsale price data, average transaction is between RM550psf. – RM650psf. for T.Tokong. The same property today will sell at about RM600psf. – RM700psf. That is a growth of about 10% – 15%. Annual returns of 5% – 7.5% still better than FD.

    A property in Simpang Ampat would have better growth meaning a 2-Storey Terrace priced at RM400K in would fetch about RM500K – RM550K today. Let’s not compare to Eco Meadows which is selling lifestyle and pricing their 3-Storey Terrace at above RM700K. The average RM100K – RM150K appreciation would mean a growth of about 20% – 30%. The annual returns is higher since returns is averagely 10% per annum.

    Nothing about who is richer than who. It’s about where the appreciation is better.

  26. John
    September 17th, 2015 at 15:46 | #26

    @sacker

    I strongly agree with you. Should not buy property or say in balik pulau. It seems traffic accident happens very often along that stretch of road. One person got killed in an 8-vehicle crash this afternoon along that road to balik pulau. Again.

  27. Property
    September 17th, 2015 at 16:57 | #27

    How do you define “high risk”? No need to say this and that. Just compare Batu
    Kawan with Butterworth and investment in Batu Kawan definitely will be a very
    high risk.

  28. Kaz
    September 18th, 2015 at 11:30 | #28

    @Buyer: Thanks for that. Makes a lot of sense. Nice to see the word “postponed”, instead of “cancelled”. :) Maybe there’s still hope for the “Singapore hinterland”.

  29. InvestLah
    September 18th, 2015 at 11:47 | #29

    @Property

    Your example is ridiculous. It’s like comparing T.Tokong with B.Lepas or S.Ara. It’s different market.

    People will look at the different areas differently. What you feel is high risk may be low risk for another.

    Remember that time after tsunami hit Seri Tanjung Pinang and everyone say it is high risk? Not anymore.

  30. Property
    September 18th, 2015 at 16:49 | #30

    @InvestLah

    The “island” mentality is a thing of the past is even absurd. Trying to promote
    an infested area of mosquitoes and swampy land is even worst.

  31. siong
    September 22nd, 2015 at 00:03 | #31

    @ang
    exactly, you dont go to ikea everyday, i probably will go there when i need to small renovate my house, why would i move there just because there’s an ikea?

  32. ray
    September 22nd, 2015 at 09:09 | #32

    @siong

    I think not many people would pack up and move there just because of Ikea. But I think the point is, with Ikea, and all the other amenities coming up in that area, it becomes a lively place with many conveniences, which in turn will make the place comfortable to live in.

    So, it becomes very attractive for first home buyers. People who are just moving out from parents place, newly weds etc. So that creates demand. Let’s say I’m getting married, looking for a home to buy, and then comparing RM1.3 mil for a 3-storey terrace in Sg. Ara vs RM700k for the same thing in Batu Kawan, then Batu Kawan becomes very attractive, whereby you can buy the house + 1 Lexus for your wife and 1 Merc for yourself…:)

  33. Go4mainland
    September 22nd, 2015 at 11:30 | #33

    ang :
    Would you buy the property in batu kawan just because of IKEA?, think about it and twice. : )

    People won’t buy property cause of one Ikea, how about the food companies around? restaurant? boutiques? Mini market? cinema? hospital? school?

  34. Go4mainland
    September 22nd, 2015 at 11:32 | #34

    Property :
    “You can choose to be ignorant, sceptical or a critic but in just a couple of years,
    who is right and who is wrong will be determined”.
    1) How to compare Sg. Ara to Batu Kawan even if it’s 20 years ago ?
    Batu Kawan has nothing and far away in the swampy mainland.
    2) The “island” mentality is a thing of the past.
    It happens only to you!!!!
    3) Big players such as Eco World ?
    The location will determine the success of an area and not a company.
    4) Money wise you are totally wrong to invest in such an area.
    Investors will not put their money in this uncertain or “dead” location.

    Let’s see.

  35. Go4mainland
    September 22nd, 2015 at 11:34 | #35

    Steve :
    For me investment in property in all about location and land value.
    The house itself is depreciating and the land is appreciating as it goes. Particularly in an area where there is scarcity of land such as in Penang island. I never buyer condo or apartment in my investment portfolio . Location it all depends on the risk versus reward . Of course it depends on your affordability as well. Let me put it in this way I would buy a landed property in batu kawan rather than a tiny bird nest in Penang island. Just my humble opinion

    They want tiny bird nest ahead of comfortable landed property.

  36. Property
    September 22nd, 2015 at 12:54 | #36

    @Go4mainland

    What to see ? Only the ignorants will invest blindly in Batu Kawan. Butterworth
    areas will be more attractive than this “ghostly” village filled with mosquitoes.

  37. Mainland
    September 23rd, 2015 at 15:04 | #37

    @Go4mainland
    What to see ? Only the ignorants will invest blindly in Batu Kawan. Butterworth
    areas will be more attractive than this “ghostly” village filled with mosquitoes.

  38. Penangkia
    October 26th, 2015 at 15:54 | #38

    !!

  39. lordie
    February 26th, 2016 at 10:54 | #39

    Batu Kawan and Simpang Ampat traffic is getting heavier by the day..

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