A PIECE of land covering the peak of Pearl Hill in Tanjung Bungah and its surrounding area in Penang will be transformed into a park with a viewing point for tourists.

Tanjung Bungah assemblyman Teh Yee Cheu said a 6.07ha piece of land where a Tua Pek Kong Temple is located near the peak of the hill had been identified for the project.

He said the park would be loca-ted some 152.4m above sea level.

It would provide tourists with a panoramic view of the sea, Tanjung Bungah, Tanjung Tokong and Batu Ferringhi, he said.

Exclusive Series @ Taman Bagan, a residential development by BSG Property located within the established township of Taman Bagan in Butterworth, Penang. This property development comprises 30 units 2-storey terrace houses. It comes with unique dual frontage design.

Property Project : Exclusive Series @ Taman Bagan
Location : Taman Bagan, Penang
Property Type : 2-Storey Terrace
Tenure : Freehold
Total Units : 30
Developer : Chainferry Development Sdn Bhd (Boon Siew Group)

PHASE One of the road upgrades on Penang island by the Penang Municipal Council (MPPP) is now 30% completed and it is expected to be fully completed by the end of 2013.

The project involving several roads is aimed at reducing traffic congestion on the island.

Six construction packages, at a total cost of RM37mil, have been planned for phase one.

“The first package to be completed was in July 2011. It involved the upgrading of the Lorong Batu Lancang and Lebuhraya Thean Tek intersection.

“The RM300,000 upgrade was completed in three months and it provides a free-flow left-turn for northbound traffic on Lorong Batu Lancang towards Lebuhraya Thean Tek,” said the council acting deputy director of engineering department A. Rajendran during a press briefing on Wednesday.

The second package, currently 90% completed, is the upgrading of the state mosque interchange to provide additional lanes, plus more right-turn lanes into Jalan Air Itam.

The RM1.2mil upgrade which commenced in August, is expected to be finished by January next year.

“Another package which has started work, is the upgrading of Jalan Gottlieb and Jalan Bagan Jermal to provide additional lanes on both sides, thereby increasing the roadway capacities.

“The additional lanes will also function as waiting area for school traffic during dismissal hours. Bicycle lanes will also be provided from the intersection in Jalan Kebun Bunga to Jalan Kelawei,” he said.

For the bicycle lanes, the completion progress is only 10% as work only started in November this year.

The tender had closed three months earlier at a price tag of RM3.5mil.

It is expected to be ready by July 2012.

The remaining packages which have yet to begin work are the removal of traffic lights at the intersection in Jalan Scotland and Jalan Batu Gantung, upgrading of Udini Roundabout to provide free-flow U-turn for northbound traffic and an elevated U-turn at Lorong Batu Lancang to cater for traffic from Jalan Taman Greenview, Jalan Tembaga and Lorong Batu Lancang.

Phase two of the road upgrading project comprises 10 future development plans and they are expected to be completed by 2014 at an estimated cost of RM24mil

Present at the briefing was Chief Minister Lim Guan Eng who had earlier announced the project in May.

The public is welcome to provide feedback on the road upgrades by e-mailing Rajendran at rajendra@mppp.gov.my.

Source: The Star

KUALA LUMPUR: The Malaysian property market is likely tosee a gradual slowdown next year, taking into consideration the uncertainty in the global economic situation.

President of Fiabci Malaysia, Yeow Thit Sang, said the high end residential units were already seeing a slowdown both in pricing and the take-up rate.

“There are less expatriates from multinational companies (MNCs) coming here and rentals with a yield of between six and eight per cent are no longer achievable.

“Investors in these units will have to wait longer to realise their investment. The slowdown in global economy is definitely affecting the high-end property market,” he told Bernama in an interview recently.

He also saw a fallout for office space next year, saying the category was already overbuilt and the overhang felt in the market with rental falling and a slow take-up rate.

However, there is a huge demand for low medium and medium cost residential units below RM300,000 with most developers building high-end units to cash in on the good time.

“The government’s effort in building such units in joint venture with developers will help the low income earners to own affordable homes.

“Building such units will not be fast enough to relieve the pent up demandover the last five years,” he added. Meanwhile, Zerin Properties’ Chief Executive Officer, Previndran Singhe,said the slowdown in the property market would only last in the first quarternext year and the industry will be stable afterwards. “Prices will remain stable, with asking prices, not values, becoming morereasonable as owners check their values to real pricing. “At present, sentiment is down due to the eurozone financial crisis and theUS double dip fears, which has been faring for a long time, but I think we aremore Asia focused,” he told Bernama. If and when China goes on reverse gear, then there would have to be concernsin the market, otherwise, barring external shocks, the industry should have astable year next year, he said. Contrary to common belief and expectations, the property market hasregistered 214,764 transactions worth RM64.75 billion within the first half of2011. Against the first half of 2010, the volume and value of transactionsrecorded double digit growth of 18.1 per cent and 29.7 per cent respectively. — BERNAMA

Source: Business Times

Everyone is different with their own lifestyles, ambitions and desires. Keeping that in mind, a unique living concept has created called 360º Lifestyle under IJM Land’s newest sea – front development, The Maritime.

As each person has diverse and unique needs for their business, leisure and home life, the objective of 360º Lifestyle is to provide innovative and completely adaptable living solutions. This is where The Maritime comes in.

With its strategic location along the New Promenade, off Jelutong Expressway, The Maritime is just a short drive away from Georgetown, Penang Bridge, Bayan Lepas Industrial Zones, Penang International Airport and the Ferry Terminal.

This project comprises of two major components i.e. Maritime Suite ( Duplex Suites ) & Maritime Piazza ( Shops ).

The Maritime Piazza will be Penang’s newest lifestyle locale with a fascinating array of shops, bistros and restaurants for people from all walks of life. Shoppers can unwind in an open and delightfully airy ambience while enjoying a magnificent panoramic view of the sea. For those seeking a dramatic venue for exhibitions, road shows & fairs, the Piazza’s concourse is the ideal place. Strategically situated on an elevated section to take advantage of an ever changing ocean as the backdrop and has a drive – up ramp leading to it, making it convenient to transport goods and stage props. Maritime Piazza has 50 units of commercial lots with choices of single storey shop, 2 storey shop – piazza and 3 storey shop – office.

Single storey shops : 
Level 1 : 20 shops ( 1,140 – 2,088 sq.ft )*
Level 2 : 9 shops ( 753 sq.ft – 2,045 sq.ft )*

2 storey piazza : 
Level 3 : 12 shops ( 1,873 sq.ft – 2,939 sq.ft )*

3 storey shop office : 
9 shop office ( 3,616 sq.ft – 6,394 sq.ft )*

Property Project : Maritime Piazza
Location : Georgetown, Penang
Property Type : Commercial
Total Units: 50
Indicative Price: RM 450,000 onwards
Developer : IJM Land