In a bid to bolster the sports and recreational offerings in the region, the state government, through the Penang Stadium and Open Spaces Corporation (PSDKLPP), is making significant headway in the development of the ambitious ‘Sports City’ project in Batu Kawan. The concept and financing model for the project are currently in the works, marking a crucial preparatory phase before the issuance of a request for proposal (RFP).

Daniel Gooi Zi Sen, the State Youth, Sports, and Health Committee chairman, has emphasized the importance of this initial stage, which will pave the way for attracting reputable investors or bidders once the RFP is announced. While an exact date for the RFP remains uncertain, Gooi assures that the concept and financing model are being meticulously crafted.

“The Sports City project is supervised and handled by the PSDKLPP, which has held discussions with related agencies and stakeholders to identify the components to be included in the Sports City project,” Gooi stated during a press conference.

This exciting development comes after the project was first announced by the former state Youth and Sports Committee chairman, Soon Lip Chee, last year. The intention behind the Sports City project is not only to foster a thriving sports community in Batu Kawan but also to transform it into a sports hub, complementing the area’s reputation as an industrial center.

Gooi emphasized the multi-faceted benefits of this project, stating that it has the potential to stimulate the growth of Penang, benefit the local population, and attract sports enthusiasts not only from neighboring states but also from other countries. It is envisioned as a dynamic hub for sports and recreation that will host a wide array of events, making Batu Kawan a destination for athletes and spectators alike.

The Penang government has called off the sale of a plot of industrial land in Batu Kawan to a private company, following a change in shareholding in the purchaser’s company.

State agency Penang Development Corporation (PDC) said it has since given Umech Land Sdn Bhd a three-month notice, following a board meeting yesterday.

“The change of majority stake in Umech Land Sdn Bhd, to an extent the controlling stake, without PDC’s prior approval is a serious issue that the PDC board is unable to accept,” it said in a statement.

The land sale became controversial following claims it was sold below market rate, with the company later being acquired by a major property developer.

PDC said it would now open up the land to be developed through a request for proposal (RFP) for the Batu Kawan Industrial Park 2 project, which would be advertised soon.

It also reiterated that the earlier land deal with Umech was above board, with its cash contribution and payment schedule evaluated as transparent as per PDC’s policies.

“The board also took note that the collaboration was feasible and would have a positive impact on PDC’s cash flow,” it said.

The controversy arose when the Penang Chinese Chamber of Commerce (PCCC) said the plot was sold below market value to Umech Construction Sdn Bhd. It also found the directly negotiated deal to be unacceptable.

PCCC also alleged that a property developer had taken control of Umech and is now offering to lease out parcels of the land at high rates.

Chief minister Chow Kon Yeow has since defended the deal, saying the land had to be sold through direct negotiations, since there were no interested parties and it was a piece of raw land next to a landfill.

He said the directly negotiated deal was nothing new, with other parcels of Batu Kawan land having been given up this way too previously.

It was also reported that on Sept 27, Sunway Bhd announced that Umech Land had inked a joint development agreement with PDC to co-develop a 558.96-acre (226.20ha) land in Batu Kawan into an industrial park with a gross development value of around RM3.5 billion.

Source: FreeMalaysiaToday.com

About Iconic Regency

A mixed development by Iconic Development Sdn. Bhd. at Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, next to SK Sungai Nibong. It is only 10 minutes walk to two future LRT Stations – Sungai Nibong & Pesta Stations. Featuring a 42-storey serviced suites with 268 fully furnished residential units.

Find out more about Iconic Regency

Taman Damai Harmoni, a small landed housing development by General Supreme Sdn. Bhd. (a subsidiary of Airmas Group) in Bukit Mertajam. Strategically located near Jalan Betek, diagonally opposite Harmoni Residensi gated and guarded community by the same company. With direct access to the ever-bustling Jalan Song Ban Kheng, an abundance of essential amenities are easily accessible within a mere minutes’ drive, which includes public schools, banks, markets, popular eateries and others.

This development comprises 26 units of 2-storey terrace and 4 units of bungalow houses.

The project is in planning stage, more details to be available upon official launch.

Project Name: Taman Damai Harmoni
Location : Bukit Mertajam
Property Type : Residential
Total Units: 26 (terrace), 4 (bungalow)
Built-up Size: 1,655 sq.ft. (terrace), 2,830 sq.ft. (bungalow)
Land Tenure : Freehold
Indicative Price : RM1,800,000 (bungalow), RM928,000 (terrace)
Developer: General Supreme Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

The Real Estate And Housing Developers’ Association Malaysia (Rehda) expressed concern over the government’s plan to introduce a 4% flat rate for the stamp duty on memorandum of transfers (MOT) on purchases by foreign individuals and companies in Budget 2024, presented by Prime Minister and Minister of Finance Datuk Seri Anwar Ibrahim on Friday.

In the press statement, Rehda president Datuk NK Tong said the move may discourage homeownership and Malaysia My Second Home (MM2H) application for those looking to migrate to Malaysia.

Nonetheless, Tong welcomes the announcement to loosen requirements for the MM2H programme. He said: “We look forward to receiving more information about these requirements, and as one of the stakeholders, Rehda hopes to be included in engagements and discussions pertaining to MM2H.”
Meanwhile, he is wary of the decision to increase the service tax to 8% from 6% on selected industries and sectors, explaining that as a player of an industry that is still finding its post-Covid footing and struggling with increased development costs, he fears that this will directly or indirectly impact the livelihood and income of many stakeholders across multiple industries.

Commenting on the overall Budget 2024, Tong said that the concept of Madani continues to take centre stage in the development of the nation, which is reflected in the latest budget.

“Rehda continues to support the government’s Madani concept, as we have done for the past four decades, through cross-subsidising affordable housing for state governments in one form or another. For the housing industry, the various allocations for the B40 are much needed, [and] will allow more Malaysians to own homes, including RM546 million towards Program Perumahan Rakyat in Johor; RM358 million towards the development of 3,500 residential units under 14 Program Rumah Mesra Rakyat; and RM460 million towards the extremely underprivileged in rural areas to build or repair their homes,” he noted.

He added that the increase in the Housing Credit Guarantee Scheme of up to RM10 billion to benefit 40,000 borrowers is also much-welcomed news, which Rehda hopes will help increase homeownership amongst gig economy workers and those without a monthly income statement.

On the other hand, the association views with cautious optimism the announcement to reduce the majority consent for en-bloc sale from 100% to a level consistent with Singapore’s, which stands at 80% to 90%.

“This will better reflect the equity and voice of the people living in strata-titled properties. As Rehda and other stakeholders await more details on the announcement, we believe that should this come into fruition, it will lead towards a reformed urban regeneration landscape that will finally see Malaysia on par with other global nations in terms of urban sustainability,” he noted.

Source: TheEdgeMalaysia.com