Botanic Villa is a new addition to Pearl City township development by Palmington Sdn. Bhd. (Tambun Indah Group). Located next to Pearl Residence and Aster Villa, about 10 minutes drive to the North-South Highway, Batu Kawan Industrial Park and Penang Second Bridge. Amenities within 5 km include Pearl City Mall, GEMS International Schools, SMJK Jit Sin II and several other shops and facilities.
This is a gated and guarded development featuring a mix of 2-storey terrace, semi-detached and 3-storey townhouses. Facilities include community hall and a swimming pool.
2-storey semi-detached (114 units)
2-storey terrace (232 units)
3-storey townhouse (144 units)
Property Project : Botanic Villa Location : Pearl City, Simpang Ampat Property Type : 2-storey terrace, semi-detached & 3-storey townhouse Total Units: 232 (terrace), 114 (semi-detached) 144 (townhouse) Land Area: (refer to floor plan) Built-up Area: (refer to floor plan) Tenure : Freehold Developer : Tambun Indah Group Indicative Price: RM512,000 onwards
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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.
It is one of the three islands under the PSI project which will be located at the south end of Penang island, measuring a total of 4,500 acres in land size. Island A will be 2,300 acres in size, Island B 1,400 acres and Island C 800 acres.
The PSI project has recently received the Environmental Impact Assessment (EIA) approval from DoE with 71 conditions.
Chief Minister Chow Kon Yeow said the name was in line with the topside development plan for the proposed island, which includes the high-tech industrial park called ‘Green Tech Park’ (GTP) as well as digital technology infrastructure, e-Commerce, and Business Process Outsourcing (BPO) facilities.
“The location of the GTP and BPO is strategic because it is close to the Bayan Lepas Free Industrial Zone (FIZ), Penang International Airport (PIA) and the Sultan Abdul Halim Muadzam Shah Bridge.
“Besides that, the ‘Heart of the Island’ (HOTI) commercial centre will also be set up in a beautiful waterfront area and connected by a network of special waterways. HOTI will be one of the state’s tourist attractions,” he told a media conference at Komtar on Wednesday. He added that the development of Silicon Island could drive the creation of over 460,000 jobs and generate a forecasted Gross Domestic Product (GDP) of RM2.2 trillion in a 30-year time frame.
Chow said Silicon Island’s master plan has successfully obtained a ‘5 Diamonds’ recognition for the Design Category from the Malaysian Green Technology and Climate Change Corporation (MGTC) in the Low Carbon Cities 2030 Challenge.
“Various green initiatives will be developed on Silicon Island to reduce carbon production by up to 45%.
“Among them are to allocate 405 acres of land for the development of public parks, wetlands, floodplains, and bioswales; to plant and grow mangrove forest which has the potential to become a popular recreational area for locals and tourists; to construct water canals and create a blue-green network that enables the implementation of water taxi transport; a 100% usage of renewable energy at GTP; to implement green mobility by creating 110km of bicycle and pedestrian network; to encourage the use of public transport powered by electricity through the implementation of light rain transit (LRT) and electric bus services; and to construct ‘super low-energy’ buildings equipped with efficient cooling systems and smart features.
“Others include implementing sustainable urban planning with climate-responsive design and green characteristics; implementing a dual-function sewage treatment plant, rainwater harvesting, and instal water-saving devices; and implementing recycling programmes, food composting and decomposing processes to reduce wastes in landfills,” he said.
Penang Infrastructure Corporation (PIC) chief executive officer Datuk Seri Farizan Darus said the PSI project is the future development of Penang which would drive the state to remain progressive, attractive to highly skilled talents, competitive, and sustainable.
Farizan also presented some details about Silicon Island during the media conference.
The proposed development of Silicon Island includes land use for industry and Global Business Services (GBS) Belt (700 acres); public spaces, infrastructure and blue-green network (1,042 acres); and housing and commercial (558 acres).
“The targeted sectors for the 700-acre land Green Tech Park allocated for industry and GBS Belt include semiconductor IC Design; software development; embedded systems design; product design and development; high-tech manufacturing: semiconductor and systems product; assembly, testing and packaging; automated test equipment and equipment fabrication; medical devices; and GBS,” Farizan said.
He also spoke about the 405 acres of land for the development of public parks, wetlands, floodplains, and bioswales. They include 110km of bicycle and pedestrian network, 580 acres of land for roads, LRT and Bus Rapid Transit (BRT) corridors, utility reserves, landscape, bus depot and LRT; and 57 acres of land for public facilities such as schools, fire stations and houses of worship.
“As for commercial and housing, some 558 acres have been allocated for that purpose on Silicon Island. The housing includes affordable homes, stratified housing, and landed properties,” Farizan said.
He added that the coastal buffer zone on the perimeter of Silicon Island is flexibly designed to enable long-term coastal adaptation to face excessive sea level rise.
“Contingency measures include a ‘polder’ system (banks of reclaimed land will be raised and increase water storage capacity); weirs; flood gates to prevent the entry of seawater; and pump system to drain excessive stormwater,” he added.
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Chin Hin Group Property Berhad, through its subsidiary, Stellar Platinum Sdn Bhd, has today, entered into a Joint Development Agreement (JDA) with Ivory Meadows Sdn Bhd, a wholly-owned subsidiary of Penang-based property developer Ivory Properties Group Berhad, to jointly develop the iconic Crown Penang, marking its maiden foray into Penang.
Under the JDA, Stellar Platinum Sdn. Bhd will fund the entire project development cost through capital injection, internal funds, and secure financing facilities while Ivory Meadows will continue to manage the development of the project, including planning, construction, as well as marketing and sales. Stellar Platinum will be seeking a collaborative partner to take up 30% of its stake.
Envisioned to be a sustainability-focused, low-density, landmark development with minimalist architecture, the 41-story Crown Penang has an estimated gross development value of RM 475 million, and will comprise 588 units of residences featuring cutting-edge smart home technologies within a tranquil urban resort setting. The development is targeted to complete in 2027.
Crown Penang is envisaged by a curation of world-class award-winning firms including Quintrix Architects, Chaos Design Studio, Sputnik Forest Labs, Permata Green and Arup. The only development with a double-story rooftop facilities deck which “crowns” its residential tower, it is located on the last plot of land in the prestigious seafront neighborhood of Seri Tanjung Pinang 1 with direct access to the Gurney Wharf via the Penang Outer Ring Road.
Chin Hin Group Property’s Non-Independent Non-Executive Director, Datuk Seri Chiau Beng Teik, who signed the JDA, said “At Chin Hin we believe strongly in forging strategic partnerships to accelerate growth and value creation for our customers and shareholders. We are delighted to take another leap forward with our first foray into Penang’s exciting real estate market which is expected to continue to trend upward post-pandemic.
“We are thrilled to develop the landmark Crown Penang alongside Ivory Properties which will appeal to discerning homeowners and investors. We are confident that Crown Penang will be well-received and set a new standard for both the real estate market and the burgeoning tourism market in Penang,” he said.
Ivory Properties Group Berhad chairman and independent non-executive director Datuk Abdul Malik Abul Kassim said the partnership marked a significant milestone for both parties and is confident about the success of the collaboration.
The residences within Crown Penang range from studios to three-bedroom residences from 495 sq ft to 1,367 sq ft in sizes. The development is located adjacent to the up-and-coming Gurney Wharf, a 60-acre waterfront public recreation by the Penang state government, which will have its first phase completed in May this year.
Convenient amenities nearby include Lotus’s Tanjung Pinang and Straits Quay Retail Marina which are within walking distance, while banks, shopping malls, medical centres, schools, wet markets, restaurants, coffee shops and hawker centres are located just minutes away. Residents are a short walk away from the waterfront promenade and easy accessibility from various parts of the island.
Bank Negara Malaysia (BNM) unexpectedly raised its benchmark interest rate on Wednesday, citing a need to normalise monetary accommodation as the economy was resilient and it needed to manage persistent inflation.
The overnight policy rate was raised by 25 basis points to 3 percent. A Reuters poll of 25 economists had largely expected Bank Negara Malaysia to hold its overnight policy rate at 2.75 percent, with just four forecasting a rate hike.
BNM had kept rates unchanged at its two previous meetings this year as it sought to assess the impact of four consecutive hikes totalling 100 basis points in 2022.
The Southeast Asian economy has bounced back strongly from a pandemic-induced slump, with growth hitting a 22-year high of 8.7 percent in 2022 but slowing global demand has clouded the outlook for its exports of energy, commodities, and high-tech goods.
BNM said in a statement that the latest developments point towards further expansion in economic activity in the first quarter of 2023, driven by strong domestic demand, household spending and better labour market conditions.
While inflation was expected to moderate, core inflation would remain at elevated levels amid firm demand conditions, it said.
“With the domestic growth prospects remaining resilient, the MPC judges that it is timely to further normalise the degree of monetary accommodation,” the central bank said, referring to its monetary policy committee.
The consumer price index in March grew 3.4 percent from a year earlier, its slowest pace in nine months, government data showed.
The central bank has forecast headline inflation to average between 2.8 and 3.8 percent in 2023, compared with 3.3 percent last year.
Malaysia’s economy was expected to grow 4-5 percent this year, BNM has said.
