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Repurposing abandoned hawker complex, leasing heritage shophouse

Property News/ 27 November 2023 No comments

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The Penang Island City Council (MBPP) is open to considering proposals for the alternative use of an abandoned two-storey hawker complex in Lengkok Erskine, apart from its original purpose as a food court.

Nicholas Theng Jie Wey, the MBPP alternate chairman of the Finance Committee, revealed that despite three previous calls for Request for Proposals (RFP), there were no takers for the hawker complex.

Handed over to the care of MBPP in 2013 after being built by a developer, the hawker complex is located on Lot 2964, Section 1, Lengkok Erskine, Taman Kristal, in George Town, covering an area of 1,070sq metres (11,517sq ft).

“Featuring 47 existing stalls on the first floor and a ground-floor car park with 29 spaces, the MBPP intends to invite tenders for the redevelopment, management and maintenance of the hawker centre. The submission deadline for proposals is set on Feb 5, 2024.

“Anyone interested in participating in this tender is required to attend a briefing session and site visit on Dec 4 (Monday),” Theng told reporters in Komtar today.

In another development, Theng also announced that MBPP is also inviting proposals through RFP process for a two-storey shophouse on Lot 376, Section 18, George Town.

The ​​land and building dimensions for this property on 26, Lebuh Armenian, are 2494sq ft and 3264sq ft respectively.

The shophouse, classified as a Category 2 heritage building with ‘Early Transitional Style’ architecture, is located within the George Town World Heritage Site.

“This building needs to be preserved and restored based on the George Town World Heritage Site Special Area Plan.

“This property had been advertised for rental and renovation without success due to the three-year rental terms.

“Now, MBPP intends to lease this property for a period of 10 years with one extension possible, up to a maximum of 20 years. The tender statement was issued on 27 November 2023 in several major newspapers, with the deadline for submissions set for 5 February, 2024.

“Interested parties are required to attend a briefing session and site visit on Dec 4 (Monday) at 9.30am,” Theng added.

Source: Buletin Mutiara

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E&O: Short-term rental ban in Penang has led to increase in property value and rental yield

Property News/ 25 November 2023 2 comments
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Work in progress at Andaman Island

The ban on short-term rental in Penang has resulted in an increase in property values and rental yields, according to Eastern & Oriental Bhd (E&O).

E&O executive chairman Datuk Tee Eng Ho said the group’s property development in Penang was never intended to be marketed as an investment play.

“Whichever condominium without Airbnb, their property price goes up, rental even much better,” he told reporters and analysts at E&O’s 2QFY2024 results briefing on Wednesday.

“Our [development in] Andaman Island, we never targeted it for people to do Airbnb,” Tee added.

Tee was referring to the Andaman Island development, an artificial island off the Northeast coast of Penang that is set to be launched in the first quarter of 2024.

Effective May 25 this year, the state government of Penang imposed a ban on almost all types of short-stay accommodation, making it the first state in Malaysia to impose such a ban.

Source: TheEdgeMalaysia.com

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Damai Springs

Bukit Mertajam/ 24 November 2023 5 comments

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Damai Springs, 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.

Project Name: Damai Springs
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. (Airmas Group)

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Penang’s undersea tunnel project awaits port masterplan

Property News/ 24 November 2023 No comments

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The fate of Penang’s undersea tunnel project hinges on the comprehensive masterplan for the North Butterworth Container Terminal (NBCT), set to be finalised by the Penang Port Commission (PPC) by the year’s end.

Zairil Khir Johari, chairman of the state Infrastructure, Transportation, and Digital Economy Committee, emphasised that the preservation of the ship navigation area in the port’s northern waters is paramount for smooth vessel movement.

“Before delving into the tunnel project, we must factor in the alignment, and this will be contingent on the PPC’s NBCT expansion masterplan,” stated Zairil during his winding-up address at the State Legislative Assembly.

The project, along with three major road constructions amounting to RM6.34 billion, includes the Tanjung Bungah-Teluk Bahang, Tun Dr Lim Chong Eu Expressway-Bandar Baru Air Itam, and Pangkor Road-Tun Dr Lim Chong Eu Expressway.

Alternatively, Zairil expressed optimism about Penang’s trajectory toward becoming an international smart city by 2030.

He commended the state’s commitment to infrastructure development, highlighting initiatives such as the Creative Digital District project, ESG Incubation Hub, SME100 Digital Champion, and Founder’s Grit Seed Programme.

Zairil noted that these efforts, spearheaded by Digital Penang, aim to attract more investors to the state.

Collaborating with the Malaysian Business Angel Network (MBAN), Digital Penang facilitates the growth and establishment of startups in Penang. MBAN has established branches in the state to assist startup companies in securing their initial capital.

To enhance service delivery, the state launched the Digital Integrated Service Centre (DISC) across its 40 constituencies.

Zairil reported that 17 constituencies have already embraced this system, aligning with technological advancements.

Addressing perennial traffic congestion, Zairil emphasised ongoing discussions with various authorities to develop infrastructure projects as part of the state’s long-term planning. He specifically highlighted the importance of addressing traffic issues for motorists traveling from Juru to Sungai Dua.

Providing an update on the Penang South Island (PSI) project, Zairil assured that progress is underway. Dismissing claims that the project would adversely impact the marine environment, he cited the approval of the Environmental Impact Assessment (EIA) report by the Department of Environment (DOE) after considering public feedback and relevant authorities’ approval.

Source: Buletin Mutiara

Penang LRT project is on track

Property News/ 23 November 2023 10 comments

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The Penang light rail transit (LRT) project is on track to become a reality, the state legislative assembly heard on Tuesday.

State Infrastructure Committee chairman Zairil Khir Johari said the project manager, Mass Rapid Transit Corporation Sdn Bhd (MRT Corp), has already called for a tender to appoint a consultant to conduct research for the project.

“The project is in the research stage and the research is expected to be completed early next year,” he said when replying to a question by Gooi Hsiao-Leung (PKR-Bukit Tengah) on the project.

He assured Gooi that the cross-channel LRT, linking Penang Island and Butterworth, will become a reality.

He said Prime Minister Datuk Seri Anwar Ibrahim had announced that the federal government would fund the project.

“The state government has met with MRT Corp in various meetings to discuss the project so we are 100 per cent confident that this project is on track to be built as planned,” he said.

Zairil said the state had also conducted various technical, feasibility and alignment studies on the LRT project.

He said the studies have been handed over to MRT Corp.

“We hope the project will begin in the near future,” he said.

In May this year, Anwar announced that the federal government would fund the development of LRT in Penang.

The LRT alignment, which was originally Bayan Lepas to Komtar, will now be from Bayan Lepas to Komtar to Tanjung Bungah, Air Itam to Butterworth to Kepala Batas and to Simpang Ampat.

Meanwhile, Zairil said the costs, implementation and start date of the project will be decided by the Transport Ministry.

He reiterated the state’s commitment to implement the Penang Transport Master Plan (PTMP).

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