A PKR assemblyman, who is in the dark about a major reclamation project in his constituency, has asked the state government to brief the relevant assemblymen on the matter.

Sim Tze Tzin (PKR ? Pantai Jerejak) claimed that some 40.4ha in front of the Queensbay Mall coastline would be reclaimed by Boustead Holdings Bhd under an agreement with the state government.

?From what I understand, the state government approved the reclamation as compensation to the developer for having to scale down its project in the Unesco world heritage site.

?To date I have not received any information on this. I hope the state government can brief the relevant assemblymen on such a big and important project,? he said at the Penang state assembly in George Town yesterday.

He said the reclamation could cause serious environmental impact to nearby areas like Pantai Jerejak and Batu Maung.

?Furthermore, Pulau Jerejak is the crown jewel for the state and should be developed as a tourism attraction like Singapore?s Sentosa Island ? land on the Queensbay Mall coastline is needed for this purpose,? he said calling for an environmental impact assessment to be conducted.

In January, an English daily quoted sources as saying that Boustead and the Penang government had concluded negotiations on the compensation for the property developer to scale down its RM100 million hotel project in the heritage city.

The purported agreement would see Boustead scaling down the height of its original 12 floors to five to comly with Unesco requirements. In return, it would be allowed to reclaim land on the Bayan Lepas coastline.

SOURCE: The Star

KUALA LUMPUR: Mutiara Goodyear Development Bhd (Mutiara) is partnering with Tambun Indah Land Bhd (Tambun Indah) to develop a 527-acre land in Seberang Perai.

Mutiara via its wholly-owned subsidiary, Pembangunan Bandar Mutiara (PBM) has entered into a joint venture (JV) agreement with Tambun Indah on Wednesday, May 4.

The JV is a continuation of partnership between Mutiara and Tambun Indah following a previous JV to develop 253 acres of land in Bandar Tasek Mutiara in 2008. The two JV have a combined total acreage of 678 acres.

“I am pleased to be able to work together with Tambun Indah on this project and our partnership track record is evident in the on-going Pearl Garden township development with a gross development value of over RM150 million. Further, with this partnership, both Tambun Indah and Mutiara will jointly benefit in the development,” said Hamidon Abdullah, executive director of Mutiara in a press statement on the same day.

Tambun Indah has since launched 685 units of homes under Pearl garden with take-up rate of 86%.

The Seberang Perai JV will be carried out through Palmington Sdn Bhd (Palmington). Palmington is 40% and 60% owned respectively by PBM and Tambun Indah. Palmington will acquire from PBM five parcels of land totaling 527 acres for RM233.2 million, to be paid on deferred basis over a period of 4 years.

Moving forward, Mutiara will continue to focus in developing projects under the Nadayu brand namely, Nadayu Melawati, Nadayu 92 Kajang, Nadayu 28 Sunway, Nadayu 290 Penang and Nadayu Cyberjaya, added Hamidon.

This JV is expected to enhance Mutiara's earnings as it will continue to participate in and benefit from the development of Bandar Tasek Mutiara and at the same time benefit from the sale of land to the JV company.

SOURCE: The Edge Property

Atlantic sits on a prime freehold land on mainland Penang that offers enchanting and breathtaking view of Penang Island. Unique Modern Contemporary Design optimizes comfort but not at the expense of luxury. It is designed to be an exclusive beachfront low-density apartment enclave with amenities at its vicinity.

Atlantic is a mere 10 minutes drive from the Jetty Terminal and Penang Bridge, Easily accessible to North-South Highway and Butterworth Outer Ring Road.

Features:
– Seaview Gymnasium
– Seaview Reading Corner
– Pool Table
– Dart Boards
– Table Tennis
– BBQ Area
– WiFi Zone
– Roof Top Landscaping

Location : Jalan Bagan Jemal, Butterworth, Penang
Property Type : Apartment/Condominium
Land Tenure : Freehold
Total Units : 54 (Typical), 3 (Penthouse)
Developer : Kee Lin Development
Contact No.: +604-261 8461

THE Plenitude Penang International Dragon Boat Festival will be held at the Teluk Bahang Dam on June 11 and 12.

State Tourism Development and Culture Committee chairman Danny Law said Plenitude, a listed company involved in property development, was the sponsor of the event this year.

He said 12 teams from Australia, China, Hong Kong, Indonesia, Macau, Singapore, United Arab Emirates (UAE), Guam and the Philippines and 16 Malaysian teams from Kuala Lumpur, Putrajaya, Kedah, Perak, Penang, the police and the navy would take part in the more than 10 categories lined up.

Law added that three junior teams from schools would also be taking part in the event.

The dragon boat races will be held from 9am to 6pm on both days.

A photography competition, which is a new side event, will be introduced this year.

“The top three winners will receive RM500, RM300 and RM100 respectively,” he said.

“Participants are required to take photos on both days. Results will be announced a week after the event,” Law said.

He said those interested in taking part in the dragon boat races could call 04-6505136, the event hotline at 016-4110000 or visit www.penangdragonboat.gov.my.

Law said a school band carnival would be held on June 12 near the dam in conjunction with the race.

SOURCE: The Star

Caribea & Casuarina is the latest addition to the Isle of Conifer @ Setia Peral Island. This new development comprises 8 units of 3-storey semi-detached and 37 units 3-storey terrace houses.

Property Project : Isle of Conifer @ Setia Pearl Island
Location : Setia Pearl Island, Sungai Ara, Penang
Property Type : Terrace, Semi-Detached
Total Units : 37 (Terrace), 8 (Semi-D)
Indicative Price : RM988,000 onwards
Developer : SP Setia