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Reclaimed islands will boost Penang’s economy and land bank

August 7th, 2018 Leave a comment

reclaimed-islandsThe reclamation of three islands to finance the Penang Transport Master Plan (PTMP) will add value to the state’s investments, said Chief Minister Chow Kon Yeow (PH-Padang Kota).

Chow said the three proposed islands, on the south of Penang island, went beyond improving the state’s transport system as it would significantly boost the state’s economy by beefing up its land bank.

“It was initially thought if the Federal Government stepped in to help finance its transportation projects, the three islands need not be reclaimed.

“(But) the three islands were needed so that the existing Penang airport can have its runway expanded, besides offering a larger area for industries to grow and boosting the state’s land bank,” said Chow.

“We have asked the Federal Government repeatedly if they can help with our transport projects. If they can help, great, but in reality, we are short of land.

“The Penang South Reclamation (PSR) scheme is good value for our industrial zone expansion. It is for Penang’s future development,” he said in response to Lee Khai Loon’s (PH-Machang Bubok) call to review the project over climate change concerns during the state assembly today (Aug 6).

PTMP, which is the state government’s multi-billion ringgit public transport project involving LRT, monorail, cable cars and water taxis, depends on funding from property development on a proposed trio of man-made islands known as the PSR scheme.

The reclaimed islands will have a total land area of 1,800ha.

Source: TheStar.com.my

 

Categories: Property News Tags:
  1. Beh
    August 7th, 2018 at 12:42 | #1

    Island A, B and C, which one is better?

  2. Sanshugong
    August 7th, 2018 at 18:57 | #2

    Roll the dice

  3. Zachary Hines
    August 7th, 2018 at 19:35 | #3

    All good for Penang. One roll of the dice and Penang wins!

  4. Sanshugong
    August 7th, 2018 at 20:08 | #4

    Build casino on Stp2

  5. Pinenglang
    August 10th, 2018 at 16:11 | #5

    The airport should be moved to mainland Penang, Sungai Acheh or Jawi.
    Close to seaside, plantation, and industrial areas.

    The airport land in island can be freed up for redevelopment, and to improve traffic/connectivity between east and west Bayan Lepas.

  6. Lego
    August 11th, 2018 at 07:42 | #6

    Is it easier to move airport or build tunnel? Better build LRT first….

  7. Frank
    August 13th, 2018 at 19:18 | #7

    Yes, agreed that Airport should built in the Butterworth area.

  8. Three islands
    August 13th, 2018 at 20:01 | #8

    Island better, direct tourists influx

    @Frank

  9. Pinenglang
    August 15th, 2018 at 15:01 | #9

    Most alpha cities have their airports located far away from the downtown core because that will create a long corridor of developments between the airport and city. F’more, airport, together with IKEA, industrial parks and USM could stimulate investment in mainland Penang while freeing up land space in the already-congested island, which is good.

  10. huatchye
    August 15th, 2018 at 17:16 | #10

    Aiyo why you guys so st00pid one?? The main issue is not mainland or island, the main issue here is this LCCT has to be built on a shoestring budget. So how to have a new airport with limited budget?? Share existing runway lor!! So it’s no other way than building it on island, so that can share share the existing runway. Understand??????? *sigh*

  11. Duh
    August 15th, 2018 at 20:23 | #11

    Goods need to be flown out fast, reclaimed islands next to airport…

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