A total of 4,541 trees will be planted at Gurney Bay, with 1,500 trees for Phase 1 and the remaining 3,041 trees for Phase 2.

Local Government and Town and Rural Planning Committee chairman H’ng Mooi Lye disclosed that so far 310 trees, which is over one-fifth of the Phase 1 target, have been planted.

In addition, as many as 10,000 shrubs will be planted around an area of 4,815sq m in Phase 1 and 16,130sq m in Phase 2.

As of Sept 1, the first phase of the Gurney Bay project is 96.15% completed, with construction work expected to conclude on Sept 30. Phase 1 of the park is expected to open its door to the public by the end of this year.

Spanning 115.35 acres, the project is divided into two phases.

H’ng, who visited the site yesterday, said out of the 115.35 acres, 27.53 acres of land and two water bodies were set for Phase 1.

“The key components include a playground (97% done), skatepark (100% done), open car parks (100% done), South Vantage Point (99% done), toilets (86% done), and kiosks (93% done),” he said.

The public car park will accommodate up to 64 cars and 62 motorcycles, with additional parking areas also available.

Phase 2 will encompass the remaining 87.82 acres, and introduce further elements, including a hawker centre, multilevel car park, north vantage point, additional toilets, a water taxi jetty, and more.

Four nominated sub-contractors (NSC) have been entrusted with managing various aspects of the project, including soft landscape, skate park and playground, steel roof works, and marine engineering.

The Gurney Bay project, initiated on May 14, 2022, features two water bodies. Tenders for the appointment of contractors for Water Body ‘A’ will soon be advertised by JKR whereas JKR has already appointed contractors for Water Body ‘B’.

Source: Buletin Mutiara

Residential prices in Penang grew 5.78 per cent year-on-year (YoY) making it the second-best performing city in Southeast Asia, according to Knight Frank Asia-Pacific.

Kuala Lumpur on the other hand, saw residential prices increase by 0.34 per cent.

This was part of the findings of Knight Frank APAC’s Asia-Pacific Residential Review Index for H1 2023.

The report tracks the movement of average residential prices within the Asia-Pacific region across 25 cities.

Knight Frank Asia-Pacific in a statemennt said the price increases came after Malaysia’s economy advanced 5.6 per cent YoY and the unemployment rate tightened to 3.5 per cent in the first quarter (Q1 2023).

“Despite a slowdown in the economy with gross domestic product recorded at 2.9 per cent in Q2 2023, the recent pause in overnight policy rate hike coupled with improving labour market conditions will continue to support the housing market.”

“Improvements in road and rail links will underpin demand for well conceptualised residential products in key cities and moving forward, prices are expected to hold steady,” said Knight Frank Malaysia senior executive director of research & consultancy Judy Ong.

According to Knight Frank, 14 out of 25 cities monitored recorded positive annual price growth in 1H23, with Singapore registering as the top-performing market with 8 per cent growth YoY.

Head of residential at Knight Frank Asia-Pacific Victoria Garrett said prices plateaued six months into 2023, indicating that correction is taking place in more markets.

“With rate hikes being paused, buyers are utilising this window of opportunity to lock down on their dream homes, which is notably predominantly seen in Australia, New Zealand, and India. “While the high inflationary conditions plough on, the combination of limited housing supply, restricted new constructions and robust household formation will support prices in various markets,” she said.

Knight Frank Asia-Pacific head of research Christine Li noted the Asia Pacific maintained a balanced outlook, adapting to global challenges while showcasing resilience in key markets.

“Steady sales momentum, positive year-on-year growth in select markets, and buyer confidence in the face of diminishing affordability underscore the region’s promising outlook.

“As we move forward, the rate of price deceleration in Australasia could start to restore confidence in the Australian and New Zealand markets, while the rise in income levels, coupled with a strong aspiration for property ownership, will sustain demand in emerging markets such as India and Malaysia,” said Li.

Source: NST Online

About Sinaran Residences @ Utropolis

The residential component in the third phase of Utropolis development by Paramount Property at Batu Kawan, Penang. It is strategically located along Bandar Cassia Expressway, with walking access to Design Village outlet mall and UOW MALAYSIA KDU Penang University College. Driving to Penang International Airport will only take approximately 30 minutes via Second Penang Bridge.

This development featuring two blocks of 35 & 36-storey serviced apartments, offering a total of 964 residential units with unit size ranging between 667 sq.ft. – 1,044 sq.ft.

Find out more about Utropolis @ Batu Kawan:

• Phase 1 – Sensasi Commercial & Residential Suites (Completed)
• Phase 2 – Suasana Residential Suites (Completed)
• Phase 3 – Sinaran Avenue & Sinaran Residences (On-going)
• Phase 4 – Savana

(Photo taken Aug 2023)

Preparatory works for the Penang Silicon Island project have started yesterday and will continue until the related works are completed, Chief Minister Chow Kon Yeow said.

He said this followed the approval to the Environmental Management Plan (EMP) for the project which was obtained from the state Department of Environment (DOE) on July 21.

The go-ahead is a follow-up to the nod of the Environmental Impact Assessment Report (EIA) for the Penang South Island (PSI) project which was approved with 71 conditions by the central DOE through a letter dated April 11.

“With the approval of the agencies involved, the preparatory works for the Silicon Island will begin from today and continue until the related works are completed.

“On behalf of the state government, we express our highest appreciation to the state DOE for the careful assessment that has been given in evaluating and approving the related EMP.

“The decision is the result of cooperation and joint efforts to ensure that the development of the Silicon Island project complies with the environmental and safety standards of the local community,” he said today, also expressing the state’s appreciation to all parties which had contributed views in drafting this EMP.

In May, Chow announced that Penang would do away with two of three islands of the controversial PSI reclamation project, which meant a scaling down of 49 per cent of the total three man-made islands project.

Island A, now known as Silicon Island, measures about 920ha.

Meanwhile, Chow said, in line with the state government’s commitment to make ex-gratia payments to the fishing community affected by the project after the approval of the EMP, the payment of 75 per cent of the ex-gratia would begin to be credited in phases starting today while the remaining 25 per cent would be completed in early 2024.

“Payments will be made in phases taking into account the scope of the PSI project which has been reduced to an island, compared to the previous initial planning.

“The development of the Silicon Island project is designed based on environmental, social and governance (ESG) principles. It is expected to become a leading technology centre in the region and open up new job opportunities by injecting lasting economic benefits to the locality.

“To begin with, a total of 600 sea and land-based job opportunities will be offered over the next 18 months. Priority will be given to fishermen and local residents,” he added.

On April 26, Chow announced that Penang had finally obtained the EIA approval for the PSI project, which came with 71 conditions to be fulfilled.

The approval was for the three islands, namely A, B and C.

The controversial reclamation project had undergone a comprehensive process with regards to the EIA report approved on June 25, 2019, but there was an appeal until the decision was overturned.

Several revised reports were subsequently submitted.

PSI involves the development of three artificial islands, with an area of 1,800ha, in the waters off Permatang Damar Laut, near Bayan Lepas.

However, the project received objections from the fishing community and environmental non-governmental organisations in the state because it was alleged that the project would damage the marine ecosystem in the area.

Source: NST Online

Proposed luxury condominium development by Instant Icon Sdn. Bhd. at Batu Ferringhi. Strategically situated on a freehold cliff land along the coastal road of Jalan Batu Ferringhi, where the well-known Boon Siew Villa is currently located. It sprawls across a vast land area of approximately 1.1 acres, and the property is expected to offer an unobstructed panoramic sea view.

This development entails the creation of a 43-storey condominium, comprising 66 upscale residential units accompanied by 2 levels of recreational and utility spaces. Additionally, the structure will incorporate 8 levels dedicated to car parking.

The project is in its planning stage and still pending approval. More details about the development to be available upon its official launch.

Project Name: (to be confirmed)
Location : Batu Ferringhi
Property Type : Condominium
Built-up Size: (to be confirmed)
Land Area: 1.1 acres
Total Units: 66
Land Tenure: Freehold
Indicative Price : (to be confirmed)
Developer: Instant Icon 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.