GEORGE TOWN: Penang-based property developer Belleview Group will unveil new projects with a development value in excess of RM500 million this year in the northern region.

Its managing director, Datuk Sonny Ho, yesterday said besides two launches on Penang island, the company is also set to launch first condominium project in Alor Star, Kedah.

"We are working with the state authorities to try and change Kedah's landscape and introduce condominium living by bringing in projects similar to the ones we have been doing in Penang for three decades," he told reporters after the official opening of the 1st Avenue mall here yesterday.

1st Avenue is a joint-venture project between Asian Retail Mall II Ltd (a pan-Asian fund managed by the Pramerica Real Estate Investors Asia Pte Ltd), Belleview Group and the Lion group.

Ho said the Amansuri Residences project along Jalan Darul Aman in Alor Star will boast two towers, comprising 22 and 24 levels respectively.

"The project will be sited on a 1.21ha of land and will comprise 277 units, with floor areas ranging from 1,200 to 3,000 sq ft and priced at around RM350 per sq ft," he added.

On Penang island, Belleview will launch its RM200 million Moulmein Rise mixed development project in the Pulau Tikus area by the middle of this year.

"We will offer, among others, commercial, small-office, home-office type units, along with upmarket condominiums in a 27-storey block close to the Pulau Tikus market," Ho said.

Also to be launched are eight bungalow units along Jalan Utama (also known as Western Road). The "W Residence" project, which carries a gross development value of between RM70 million and RM80 million, is expected to be completed by the middle of 2014.

Meanwhile, Pramerica Real Estate Investors Asia chief executive officer Victoria Shigera Sharpe said despite continued chaos in the global economic environment, the year 2011 was a very successful year for Pramerica in the Asia-Pacific region.

The S$3 billion (RM7.3 billion) fund, which is managed by the Singapore-based company, last year consolidated its popular closed-end Asian Retail Mall funds into a private open-end property fund for institutional investors looking to take advantage of opportunities in Asia's growing retail sector.

"What this new fund structure means for our investors, Pramerica and Malaysia is quite significant as the conversion allows us to maintain a more long-term position in the Singapore and Malaysian markets, where we do not have exit assets because of structural reasons, namely the term of our investment funds coming to an end," Sharpe said.

SOURCE: Business Times

THE state government is not efficient in tackling traffic woes in Penang, especially on the mainland, claimed state Gerakan Environmental Bureau chief Tan Chai Liang.

“If anything, the so-called effort by the state government through its car-free day campaign and bicycle-riding programmes failed to counter the worsening traffic problems in Penang,” he said.

Describing such efforts as short-term measures, Tan said traffic congestion in Penang was at its worst at the Butterworth-Kulim Expressway (BKE) roundabout near the Seberang Jaya Hospital during peak hours.

He said that the merging of numerous lanes near the roundabout from the North-South Expressway (NSE), Penang Bridge and Free Trade Zone area as well as from Megamal Pinang or Pacific Hyperstore in Butterworth caused bottleneck traffic congestions daily from 3pm onwards until about 9pm.

“The problem has been there for years but the state government has done nothing about it, which clearly shows that it does not view the problem seriously.

“We have seen a lot of political shows, like state exco members taking public buses, but there is no real effort to solve the matter effectively,” Tan told a press conference at the state Gerakan headquarters yesterday.

He said that as short-term measures, the state government should get traffic police to guide and control traffic flow in the area besides closing other inlets during peak hours to ease the flow of the exit.

“This is to prevent a traffic pile-up on the NSE,” he said.

Tan also said the state government should consider building a flyover or a tunnel to replace the existing BKE roundabout.

He also warned that the traffic congestion on the Penang Bridge and PLUS highway would jeopardise efforts to develop the Batu Kawan area, as investors would be put off by the traffic con- gestion.

State Public Works, Utilities and Transportation Committee chairman Lim Hock Seng said that a proposal had been submitted by the state Public Works Department for a flyover to be built on the NSE (with the Seberang Jaya mosque on the left) leading to Kulim (near the Road Transport Department).

“The proposal is submitted yearly but it has always been rejected,” he said.

Lim added that the BKE roundabout is part of the Butterworth Outer Ring Road maintained by Lingkaran Luar Butterworth (Penang) Sdn Bhd which comes under the Malaysian Highway Authority under the purview of the Federal Government.

Source: The Star

The Residence – Phase 2, strategically located in Bagan Lallang, easy access to North-Sourth Expressway, Perai Industrial Area, Butterworth and a mere minutes drive to Penang bridge. This is a non-gated residential development comprises 14 units of 2-storey semi-detached and 2 units of bungalow houses.

Phase 1: The Residence (Gated and guarded)

Project Name : Taman Cengkeh Indah (The Residence)
Location : Bagan Lallang, Butterworth
Property Type : 2-Storey Semi-Detached and Bungalow
Indicative Price : RM840,000 onwards
Developer : Airmas Group
Contact Number : 1700 818 333 / 04-380 6000

GEORGE TOWN: Cititel Hotel Management (CHM) Sdn Bhd, a subsidiary of IGB Corporation Bhd, will invest RM183 million to build two more hotels on the island.

CHM managing director Datuk Eric H.K. Lim said the properties would be built at the Gat Lebuh Noordin area by early 2014.

The two hotels are the four-star St Giles Hotel and a budget hotel – Cititel Express.

The 33-storey St Giles will have a unique facility of a helicopter pad at the rooftop, while the Cititel Express will occupy 23 storeys.

The St Giles Hotel will have 500 rooms and the Cititel Express will have 275 rooms.

Both these new hotels will be built adjoining each other at the site.

Speaking at a function to mark Cititel Penang's 15th anniversary celebrations here yesterday, Lim said the St Giles Hotel will be the fifth edition under the St Giles Hotel Group, with other hotels in the US, the UK and the Philippines.

The Cititel Express will be the second after Cititel Express in Kota Kinabalu.

He said the groundwork for the two new properties had already started in December and work was expected to be completed by 2014.

SOURCE: Business Times

THE next phase of the Jalan Air Itam widening project slated for April should ease traffic congestion by at least 15%, said Penang Municipal Council senior traffic engineer A. Rajendran.

The widening of the 190-metre stretch in front of the Han Chiang High School from two lanes to three is expected to commence once the details of the project has been finalised.

“The widening of the 165m stretch from Green Lane to the school from four to six lanes was completed at the end of last year.

“We are in the midst of preparing the tender documents and are in discussions with Han Chiang on the details of the upgrading works.

“We hope to get started by April. It should take about three months or less to complete,” said Rajendran.

Source: The Star