Hunza Properties Berhad started the second half of 2023 with a bang as they successfully broke the ground for Phase 2 of Penang International Commercial City (PICC) here at the doorstep of the soon-to-be-completed MUZE at PICC.

PICC was first unveiled to the public back in 2018 in conjunction with the Group’s 40th Anniversary. With a massive gross development value (GDV) of RM7.5 billion and long-term real estate investment value of RM2.5 billion on a 43-acre freehold land, it is expected to create more than 15,000 job opportunities upon its complete manifestation. The first phase, MUZE at PICC, was launched shortly after in 2019 to a great reception from both the local and international markets.

After more than four years-and despite the onslaught of the pandemic from 2020-2022-MUZE at PICC will finally be completed within the next few months to the title of “Tallest Smart Residential Building in the Northern Region of Malaysia”. The penthouse component, MUZE Signature VI, which was designed by the world-renowned YOO from the UK will also be launched shortly.

In time for its 45th anniversary, Hunza Group will embark on the next phase of PICC which comprises PICC Commercial Hub and SENZE at PICC. The PICC Commercial Hub will be at the heart of the entire development with a shopping mall, a 5-star hotel, a Global Business Services (GBS) hub, and high-grade office spaces in the mix. More details on the hotel and the mall’s anchor brands will be revealed across 2024.

“The combined long-term investment value for our PICC Commercial Hub will be around the range of RM1.3 to RM1.5 billion. The different components will also bring about 15,000 job opportunities to the state of Penang,” said Dato’ Khor Siang Gin, the Group Managing Director of Hunza. He also said that the Group commits to creating positive ripple effects to the surrounding communities through external infrastructure upgrades that will involve approximately RM130 million on top of job creation and the establishment of a vibrant social hub for the township of Bayan Lepas.

The other half of Phase 2 – SENZE at PICC – will be Hunza Group’s biggest endeavour to date. With 1,680 furnished units of serviced residences spread across 3 towers, the Group intends to present a brand-new living experience amidst the metropolitan setting of PICC. The project will be officially launched with more details in the coming months.

Earlier on, YB Jagdeep Singh-the Penang State EXCO for Housing, Local Government, and Town & Country Planning – delivered his speech with much optimism for the upcoming Phase 2. “When Phase 2 is completed down the road, I believe it will be able to rival those landmark developments we often see in capital cities around the world,” said YB Jagdeep. He also mentioned that the Penang Housing Board is collaborating with Hunza Group for the former’s first RMMPg (Rumah Mampu Milik Pulau Pinang) – The Millennia at Bukit Gedung.

In his congratulatory remarks, YAB Chow Kon Yeow, who is the Chief Minister of Penang and Guest of Honour at the event, said: “PICC will be an embodiment of what Penang aspires to be for the future: vibrant, integrated, metropolitan, forward-looking, and powered by technology. With the myriad of commercial components at play in Phase 2, it will further exemplify Penang’s potential as a major economic gateway as well as amplify the variety of job opportunities in the State.”

The construction of Bandar Baru Air Itam to Tun Dr Lim Chong Eu Expressway (Package Two) bypass is now at 35.14%.

Project director Nasfiza Mokhtar, who was from the Public Works Department and currently with Penang Infrastructure Corporation (PIC), said the project was behind schedule by about 2%.

She said, however, the project completion deadline remained Jan 31, 2025.

“We thank the authorities and all involved for the cooperation given.

“Most land acquisition matters have been resolved, and we look forward to addressing the remaining soon. Similarly, utility-related challenges have also been successfully managed,” she said during her short presentation at the construction site at Bukit Gambir here, yesterday.

The briefing was part of the site visit ceremony of the 5.7km Bandar Baru Air Itam to Tun Dr Lim Chong Eu Expressway (Package Two) bypass project. Chief Minister Chow Kon Yeow and state Transport and Infrastructure Committee chairman Zairil Khir Johari inspected the project which included several elevated and at-grade sections.

The estimated cost of the dual carriageway project is RM851.04 million.

It was reported that Package Two will comprise three interchanges – Interchange One (at Lebuhraya Thean Teik), Interchange Two (Jalan Bukit Gambir-Jalan Sultan Azlan Shah) and Interchange Three (at Tun Dr Lim Chong Eu Expressway, which will involve a left in-left out junction and an elevated U-turn.

The project contractor is Consortium Zenith Construction (CZC), and the implementing agency is PIC.

CZC project director Razif Ahmad Ahmad Khan said when Chow first visited the site on Jan 7 last year (2022), the work progress on only about 8%.

“Today, we are proud to announce that we have achieved 35%. We understand the heavy responsibility of providing a good highway network for the people,” he said in his speech.

PIC chief executive officer Datuk Seri Farizan Darus said the project was being monitored by PIC.

“The Chief Minister has been briefed and taken on a tour to check out the work progress. He was able to understand the project status through this site visit,” Farizan said.

Chow said two twin land tunnels would be built along the Package Two alignment.

“Initially there were three, but after revision, there will be two (twin land tunnels).

“Each tunnel is about 300m to 400m-long. And it is only about 600m between the two tunnels,” Chow replied to a question by a journalist after the event.

Earlier in his speech, Chow said the site visit helped him to understand the implementation of the project better.

“In the past, Datuk Lim Hock Seng (now Penang Economic Planning Division transport chief) and I objected to the Penang Outer Ring Road (PORR) proposal as it will involve burdening the people with tolls for using the expressway.

“Today, the Penang government is able to implement this (Package Two) project without imposing any toll on the road users. It will be a toll-free highway which will connect Air Itam to Tun Dr Lim Chong Eu Expressway.

“Penang government is committed to addressing traffic issues in the state,” he said.

Source: Buletin Mutiara

First-time house buyers will continue to enjoy a 100 per cent stamp duty exemption for purchases not exceeding RM500,000 via the Malaysian Home Ownership Initiative (i-Miliki) as provided for under Budget 2023, said the Finance Ministry (MoF).

It said a 75 per cent stamp duty exemption will also be given for first-time home ownership for houses priced at between RM500,000 and RM1 million under the i-Miliki initiative.

“This stamp duty exemption applies to sale and purchase agreements executed from June 1, 2022, until Dec 31, 2023,” the ministry said in a statement on Friday.

It said the exemption comes under the Home Ownership Programme (HOPE), where first-time buyers are given stamp duty exemption on transfer documents and loan agreements.

The move is aimed at encouraging home ownership among the people, the statement said.

The MoF also said the stamp duty on instruments of transfer of ownership of real estate by way of love and affection between parents and children, and between grandparents and grandchildren, is also fully exempted, limited to the first RM1 million of the property’s value.

“The remaining balance of the property’s value is subject to the ad valorem duty rate with a 50 per cent remission of the stamp duty chargeable.

“This stamp duty exemption applies to real estate transfer documents executed from April 1, 2023,” it added.

Source: Bernama

About Celesta Residency

Mixed development by Red Blue Development Sdn. Bhd. (TGB Group) in the established township of Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, diagonally opposite three public schools, namely SRJK(C) Kwang Hwa, SRJK(C) Shih Chung and SMK Sungai Nibong. It features a mix of residential and commercial components.

(Photo taken in May 2023)

Find out more about Celesta Residency

Ikano Centres, a leading retail developer, is delighted to announce the highly anticipated opening of two major additions at Klippa, located in Batu Kawan’s growing township in Penang. Joining the retail line-up is a petrol station, to be operated by Caltex, and mainland Penang’s first Decathlon store which will further expand the diverse offerings most crucial to the community’s needs.

Acknowledging the despair among residents and adjacent community groups, the centre identified the pressing need for a nearby petrol station that offers convenience and accessibility. The Caltex station will feature multiple retail components, including two convenience stores, and a pharmacy as well as a standalone Starbucks drive-thru, which are all scheduled to open in the first quarter of 2024.

“Caltex is excited to be a part of this new community in Batu Kawan and looks forward to serving its residents 24/7 around the clock. This site will be our third station in Batu Kawan, complementing the first and second stations that are currently under construction and expected to open next year as well. Our goal is not only to offer fuel services and retail amenities but also to provide a one-stop destination solution that is convenient and accessible to its residents and surrounding community,” says Dean Gilbert, Country Chairman for Chevron Malaysia Limited.

Ikano Centres is thrilled to announce that it will be building a stand-alone Decathlon outlet at Klippa, scheduled to open the second half of 2024. With a floor space of 21,200 sqft, Decathlon will offer a wide range of sporting goods and equipment to cater to sports enthusiasts and Penangites. This will be the third Decathlon in the Ikano Centres portfolio after successful openings at MyTOWN Shopping Centre and Toppen Shopping Centre.

Additionally, Klippa has recently welcomed several new brands, which has increased the total Gross Leasable Area (GLA) to 675,000 sqft. Among them is TMG Plus by the Tunas Manja Group, a grocery retailer that offers enhanced services such as personal shoppers, home delivery and drive-thru services. This marks the first TMG Plus in the Northern peninsular of Malaysia. Other brands that have opened include Malaysian-based appliance store Mr DIY Plus and their Mr. Dollar and Mr. Toys subsidiary brands, Guardian, Dr Specs, and a variety of exciting eateries such as Kejap Foods, CMR Restaurant Express, Zus Coffee, Chicago Chicken City, XiXiang Kaya Kopitiam and more. A+ Go Babyland, has also joined Klippa, strengthening the centre’s family friendly offerings.

Moreover, renowned brands like Kenny Rogers, Coffee Bean & Tea Leaf, and A&W have been introduced to Klippa’s F&B unique drive-thru concept, ensuring a diverse culinary experience at the convenience of the community. With the new addition of Caltex, the drive-thru component of Klippa is now 100% leased out.

Adrian Mirea, Managing Director at Ikano Centres said, “Together with IKEA Batu Kawan, we are excited to create a vibrant and customer-centric shopping experience for Penangites. Our primary goal is to meet the evolving needs of the community and establish Klippa as the go-to commercial and leisure hub for the growing Batu Kawan community. As we continue to build Klippa phase by phase, we will also seamlessly grow with the catchment area and adapt to the growing needs of the community. This current phase aligns strategically with the lifecycle of the township, offering relevant and enticing offers that caters to the lifestyle of the community. By carefully curating our strategic tenant mix, we ensure that Klippa remains a destination that integrates with the community’s daily life.”

Arnoud Bakker, Commercial Director at Ikano Centres highlighted the tenant selection process is thoughtfully shaped to ensure a balanced mix of renowned brands and unique offerings. He explained, “Our commitment to creating a compelling retail ecosystem remains steadfast, as evidenced by our 98% occupancy rate. This achievement does not alter our targets; rather, it fuels our dedication to further enhancing the retail experience. We are focused on aligning our current phase of masterplan development with the evolving needs of the community, boosting footfall, and fostering customer loyalty. Our goal is to establish Klippa as the vibrant community meeting place, where individuals can gather, connect, and enjoy an exciting shopping experience.”

Across the peninsular, Ikano Centres is excited to share that Toppen, its southern one-stop community destination will be opening a state-of-the-art sports facility in partnership with the Forum Group and new entertainment addition Game On Theme Park by Nextgen. The sports facility will feature 17 badminton courts and 2 multi-purpose courts, providing ample space for sports enthusiasts to engage in their favourite activities. The Hub at Toppen, which is the new retail component on top of Toppen’s new multistorey carpark will house the new badminton court, which is set to open by the end of this year. Game On Theme Park by Next Gen is an indoor theme park designed to provide thrilling entertainment options for visitors of all ages.

Ikano Centres remains committed to its vision to foster community growth and enhance the retail landscape at all their destinations. Its ongoing efforts to introduce new and diverse offerings will continue to make a positive impact on the lives of shoppers and strengthen the ties within their communities.