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SITE PROGRESS: Green City Residence (Jan 2023)

Property News/ 4 January 2023 No comments

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About Green City Residence

A 29-storey luxury development in the heart of George Town by Green City Garden Development Sdn. Bhd. Located on a half-acre land along Macalister Road, it is only 2km away from KOMTAR and less than 15 minutes drive to Penang Bridge.

This project features 52 units of luxury suites and a 100-room hotel. An automated robotic parking system will be built to allow more car parking bays.

Find out more about Green City Residence

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Taman Ara Mutiara

Kubang Semang/ 3 January 2023 No comments

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Taman Ara Mutiara, a mixed development by Primutiara Development Sdn. Bhd. (a subsidiary of Oriental Max Group) at Kubang Semang near Tasek Gelugor. Located on 19.5 acres of land along Jalan Ara Kuda, immediately opposite Desa Ara Permai housing scheme by the same company. It is less than 2km away from Penang-Kedah border, about 13km to Kulim Hi-tech Park, and less than 25 minutes drive to Penang bridge.

This development comprises a mix of 2-storey shop offices and terrace houses with two different layout types to choose from:

  • 2-storey terrace (Type A – 17 units)
  • 2-storey terrace (Type B – 114 units)
  • 2-storey shop office (18 units)

Project Name : Taman Ara Mutiara
Location : Kubang Semang, Tasek Gelugor
Property Type : Terrace house and shop offices
Total Units: 131 (terrace), 18 (shop office)
Built-up Size: 1,600 sq.ft. onwards (terrace)
Land Area: 1,300sq.ft. onwards (terrace)
Land Tenure: Freehold
Indicative Price: RM382,500 onwards (terrace)
Developer : Primutiara Development Sdn. Bhd. (Oriental Max Group)

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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.

Forging ahead into 2023 and beyond

Property News/ 3 January 2023 1 comment

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The year 2022 ended with unprecedented political developments in Malaysia, leading to a unity federal government helmed by Datuk Seri Anwar Ibrahim as the nation’s 10th prime minister.

What does this mean for Penang which has been an opposition state for most of the last 14 years since 2008, now that there is a new prime minister and federal government in place?

The DAP-led administration has highlighted before that Penang often received a paltry sum from the annual federal budget despite its high contribution to the national gross domestic product (GDP).

How would you rate Penang’s progress in the last four years since you took office? What was the biggest challenge you and your administration faced?

CM Chow Kon Yeow: The biggest challenge is definitely the Covid-19 pandemic – the global disruptor of the early 21st century. Currently, we are still trying to rebuild the economy that has been critically affected by the virus, especially in the tourism and hospitality sectors.

In terms of Penang’s progress over the past four years, I’m heartened to say that the state has received the highest foreign manufacturing investment in 2021 amounting to RM74bil – surpassing all previous records. If we can build the right supporting ecosystem, I am confident that Penang is poised for further growth through the manufacturing sector.

In what areas could we have done better as a state? What are the improvements you wish to see moving forward?

As an industrialised state, we need to continue to improve our investment numbers. We need to plan for the long run, which is why we are looking to reclaim the Penang South Islands (PSI) to create land for the Green Tech Park (GTP), which is an industrial park that complies with the environmental, social and governance (ESG) standards for high-tech investors of the future.

The development will play a central role in Penang’s growth for decades to come. The GTP will further strengthen Penang’s position in the electrical and electronic (E&E) global supply chain as the Silicon Valley of the East.

Penang’s civil society organisations and the local fishermen have urged previous prime ministers to cancel the project, saying the reclamation will destroy marine life and the fisherfolks’ livelihood along with it. Why is Penang so adamant about pursuing this project?

We have always acknowledged their views and concerns. But I hope we can be fair. The scenario will not end fishing, as some critics have been claiming. The majority of the fishermen actually approve of the project. The social impact assessment done by an independent consultant shows that about 80% of the local residents, including fishermen, are supportive. No reclamation project in Penang has ever wiped out the fisheries and caused fishermen to become jobless.

Fishermen in south Penang island can still fish during and after the reclamation. Locations where many of them fish are beyond the PSI footprint, even today. This fact was verified by 200 satellite images studied by a geospatial expert. The fishermen have a vast area to fish. We will even provide a navigation channel with a minimum width of 250m, which will give fishers 24-hour access to the sea as part of the PSI development. Presently, they can only go to sea during high tide.

Fishermen are not being sidelined. In February 2021, we announced the Social Impact Management Plan (SIMP) which offers fishermen in south Penang island financial aid in the form of:

  • Ex-gratia.
  • New boat and engine.
  • Skills training.
  • Job and business opportunities.
  • Education support for their children who are in primary and secondary schools.
  • House ownership scheme.

The four fishermen units facing the proposed project site will get new jetties.

The fishermen are entitled to join the Koperasi Komuniti Pulau Pinang Selatan Bhd (KKPPSB) which will provide services and goods to support the PSI development and generate income for its members, namely the fishermen. So far, the cooperative has been tasked with managing and delivering the SIMP’s boat and engine aid programme, as well as serving as the main contractor for the Permatang Tepi Laut temporary fishermen jetty.

These benefits were offered under the SIMP following engagements with fishermen to gather their input. Various government agencies, which included the Fisheries Department and the Malaysian Fisheries Development Authority, also contributed their ideas.

The whole intention is to have a holistic plan for fishermen who want to continue to fish and also for those who want to broaden their horizons by going into entrepreneurship and other ventures. We want to diversify their options and give them more opportunities to generate income from other sources.

We also want to help their children do better in school so that they can get better jobs, including future jobs on PSI.

We are planning for the long term with the SIMP. These benefits are just the beginning. We can do more when PSI gets the approval to start work.

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How will Penang address the inevitable environmental impact?

The reclamation process must adhere to stringent conditions set by the Environmental Department. There will be mitigation measures in place as required, such as silt curtains, round-the-clock turbidity and water quality monitoring and others. Failure to implement environmental control measures to minimise the impact on the environment will lead to a stop-work order, which nobody wants. We will implement all the required measures during construction.

The project will also implement the PSI Ecology Offset Master Plan (PEOM), which will provide coastal protection, carbon sequestration and new habitats for marine life that contribute towards the sustainability of the fisheries industry. The PEOM involves, among others:

  • Planting mangroves.
  • Deploying artificial reefs near Pulau Kendi and fish aggregating devices (FADs).
  • Releasing fish and prawn fry.
  • Building eco-shorelines along the reclaimed islands’ perimeter.
  • Providing funds for marine ecology, fisheries, turtle and coral reef research.

The project has started to implement some of the initiatives in phases. The project has, directly and indirectly, contributed to the expansion of mangrove habitat with the planting of more than 3,500 saplings and release of two million fish fries into the sea.

Additionally, since 2008, there are more than 100 artificial reefs deployed into the sea.

All these measures are nourishing the local marine ecosystem and offsetting the impact of development. With all these initiatives and upcoming plans, it is one-sided and unfair to keep accusing Penang of harming the environment.

What about climate change? There is concern over rising sea levels and yet Penang is planning reclamation projects.

PSI’s master plan is guided by the United Nations Sustainable Development Goals (SDGs) and the Intergovernmental Panel on Climate Change (IPCC) recommendations, as well as the Low Carbon Cities Framework (LCCF). Penang wants to build a different kind of development – one that complies with ESG principles, which are important requirements in today’s business world.

As such, PSI’s development will incorporate many green measures, like reserving 164 hectares of land on Island A for public parks, water canals, wetlands, floodplains and bioswales to enhance biodiversity and cool the environment by 1°C to 2°C. These blue and green networks make PSI a sponge city with the capacity to retain, recover runoffs, control flooding and recharge groundwater to face more intense rainfalls.

Sustainable master planning, facilities sharing, implementation of climate-responsive designs, using 100% renewable energy to power the GTP, building super low-energy buildings, integrated transport planning that puts bicycles and pedestrians before cars, and using water taxis, electric-powered public transport like e-buses and the LRT will also lead to reducing carbon emissions.

Other plans include reducing freshwater demand through a dual-purpose water treatment plant, rainwater harvesting and water-saving devices, and reducing landfill waste with extensive recycling, food maceration and composting.

We have also taken note of the IPCC’s 2019 Special Report on the Ocean and Cryosphere in a Changing Climate finding that global mean sea levels would likely rise between 0.29m and 1.1m by the end of this century. PSI’s perimeter platform will be built with a minimum elevation of 3m above sea level and up to 5m in other parts of the island. The coastal buffer of a minimum of 40m will also enable long-term coastal adaptation flexibility to suit changing sea level conditions.

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Can Penang convince the federal government to support the state’s ambition to develop this project?

I am confident the PM keeps an open mind when it comes to the economy and development issues. PSI is not new to Datuk Seri Anwar, who was briefed on the project at my office in Komtar in July 2019. He understands that Penang is a very dynamic state and we need to continue growing. He will be able to judge the proposed development based on its merits.

Soon after taking over Putrajaya, the PM spoke about eradicating poverty and inequality, regaining investors’ confidence, and driving economic growth. These objectives are also Penang’s goals, and as one of the more developed and industrialised states in the country, we have the responsibility to support the new central administration’s endeavours for a better Malaysia.

We can do that through PSI, which is a state project to create new land for future housing, commercial, industrial and infrastructure developments, as well as new attractions for tourism and recreation. The economic spillover will be huge.

In 2021, a Penang South Islands Economic Impact Assessment Study by Deloitte Tax Services Sdn Bhd estimated that PSI will bring about a RM2.2tril national GDP impact, over RM70bil in foreign direct investments (FDI), a total government revenue of RM226.5bil, and support 460,000 jobs in a 30-year timeframe.

If we do not create quality jobs, we will forever face the brain drain problem. In 2022, we launched the Creative Digital District and the Penang Internship Subsidy Programme as measures to recognise and retain our Malaysian talents. PSI is our long-term plan, with its lifestyle campus-like environment that will encourage industry collaboration with education institutions to develop and upskill our workforce and move the industry up the value chain. This will certainly bring great benefits to Penang and nearby states, as well as to Malaysia as a whole.

I believe PSI can offer Malaysia a good example to follow. We received positive feedback from various parties – such as government-linked agencies, companies and higher learning institutions – that visited Penang Infrastructure Corporation and Pusat Perkhidmatan Setempat Nelayan to learn about PSI, the SIMP and PEOM. Even fishermen from other states commended the SIMP. They lauded the initiatives and were impressed that Penang is going to such lengths to make this project successful and sustainable.

How is the progress of implementing the Bayan Lepas LRT? Will Penang seek federal funding?

We would greatly welcome financial support from the federal government. We have previously obtained a loan guarantee, but that was cancelled by the previous administration. Since then, we have looked at green financing. We are also in the middle of an RFP (request for proposal) process to appoint a contractor to build, deliver and run the LRT. We have also asked tenderers to propose a financial model for the project. We hope for some support from the federal government.

What do you think about civil society and Gerakan’s objection to the LRT and the Penang Transport Master Plan (PTMP) in general?

They are free to express their views. As with the PSI project, we have also addressed their comments. As (state infrastructure and transport exco) YB Zairil (Khir Johari) has said, there is no need to review the PTMP, as implementing the transport projects will benefit the economy during a recession.

While they disagree with the LRT, many Penangites and other Malaysians support the LRT proposal for Penang due to the traffic congestion problem. The project gained a 97% approval rate from over 22,000 people whose feedback was collected during the 2019 public inspection. In the recently-concluded PTMP roadshow, 88% of over 1,000 people surveyed said they were willing to give up driving if they could use the LRT.

What is your biggest hope or wish for Penang in 2023?

Looking at the forecasted recession ahead, my biggest hope is for Penang to be able to develop these critical infrastructures – the PSI, LRT, and other components of the PTMP – so that they can help the state withstand the impact and emerge as a more resilient and liveable place.

Source: TheStar.com.my

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PE Land partners Affin Bank to offer flexible home financing solution for Anggun Residences

Property News/ 2 January 2023 No comments

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PE Land has formed a strategic partnership with Affin Bank to offer homebuyers of Anggun Residences a more flexible home financing solution through Affin Bank’s Home Step Fast/i campaign.

The campaign offers a lower monthly repayment for the first five years from vacant possession, making homeownership more viable especially for first-time homebuyers.

Under the campaign, homebuyers will be able to receive a loan margin of up to 90% with an additional 5% allocated for home loan insurances, legal and documentation fees, including stamping and valuation fees. Loan tenure is spread up to 30 years or until 70 years old.

“With this joint effort with Affin Bank, we hope to help ease our purchasers’ homeownership journey and open up the opportunity for first-time homebuyers and young couples to own a wellconceived and wholesome home for their family. The flexibility of Home Step Fast/i will allow them to have more cash flow while they build their income growth and financial capacity in the next five years,” said PE Land’s Executive Director, Joanna Ling.

“Another advantageous feature of Home Step Fast/i is that it has no lock-in period and no early settlement fee required. This is very appealing to those who are buying for investment purpose as it minimises capital outlay and increases the potential of a higher yield,” Joanna shared.

Anggun Residences is located in rapidly developing Batu Kawan, right next to Design Village Outlet Mall, the first outlet mall in northern Malaysia. Its strategic location and distinctive condotel concept are among the many reasons why Anggun Residences is so favoured by homebuyers and investors.

The development is also the first residential project in Malaysia to be equipped with Hyundai’s Air Touch Elevator Technology. A first-of-its-kind that offers homeowners a completely contactless elevator system that ensures a cleaner, safer and more convenient way of life at home.

Construction is currently in progress and the entire development in expected to be completed by end of 2024. Sales for Anggun Residences has reached 80% and pick-up rate is expected to increase with the latest offering of Affin Bank’s Home Step Fast/i’s flexible home financing solution.

To view the show unit or to find out more about Anggun Residences, visit PE Land Sales Gallery at Lot G-18, Design Village Outlet Mall or call 012 440 3933. Alternatively, homebuyers can also visit anggunresidences.com.my or fb.com/anggunresidences for more info.

UPCOMING: Nibong Tebal / IMG Incorporated Sdn. Bhd.

Nibong Tebal/ 2 January 2023 No comments

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A proposed residential development by IMG Incorporated Sdn. Bhd. in Nibong Tebal. Located near the main federal trunk road connecting Penang and Perak (Route 1), less than 2km away from Penang/Perak border. It is surrounded by several mature communities, namely Taman Sinar, Taman Seri Acheh and Taman Fajar.

The development comprises 141 units of 2-storey landed houses with a community hall:

  • 2-storey terrace (116 units)
  • 2-storey semi-detached (22 units)
  • 2-storey bungalow (3 units)

The project is still pending for approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Nibong Tebal
Property Type : Residential
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units: 116 (terrace), 22 (semi-d), 3 (bungalow)
Indicative Price : (to be confirmed)
Developer : IMG Inforporated Sdn. Bhd.

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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.