Construction of the 5.7km Ayer Itam-Tun Dr Lim Chong Eu (LCE) Expressway bypass, which would be part of the RM46 billion Penang Transport Master Plan (PTMP), will begin on Aug 31 this year, Penang Chief Minister Chow Kon Yeow (pictured) said yesterday night.

He said the commencement of the by-pass will mark the beginning of a comprehensive transport infrastructure plan to alleviate traffic congestion in the state.

Additionally, he said the state government had also approved one of the packages under the PTMP to be carried out by its developer, SRS Consortium within the first half of this year.

“This will definitely spur the construction sector and provide a lot of opportunities for companies in Penang associated with building and construction businesses,” he said when speaking at the Real Estate & Housing Developers’ Association (Rehda) Penang Chinese New Year dinner here.

State Housing Committee chairman Jagdeep Singh Deo who also spoke at the event said the State had agreed to Rehda’s request to extend the period for the exemption of a three percent levy on properties purchased by foreigners in the State until the end of June this year.

Initially, the deadline for the exemption of the approval fee imposed was until Feb 28, but it was said that many foreign buyers would not be able to enjoy the benefit as the period was deemed too short.

“The state government has reviewed the request by Rehda Penang, and we have agreed to extend the deadline to end of June, in line with the Federal home ownership campaign,” he added.

Source: EdgeProp.my