Imagine taking in the peaceful atmosphere of a public park and checking out the world of art from a whole new perspective – both at the same time!

Visitors to the Armenian Park can do so now, thanks to the newly-launched ARmenian Park project.

A collaboration between Penang Art District and Perk Reality, this project offers visitors the opportunity to appreciate art using Augmented Reality (AR) technology.

Penang Tourism and Creative Economy (Petace) Committee chairman Yeoh Soon Hin said while there were several private initiatives which allow shoppers in shopping malls to experience AR technology in Malaysia, Armenian Park was believed to be the first AR park in the country.

“Armenian Street is one of the popular tourist spots in Penang. Integrating AR art in Armenian Park can maximise the tourist experience and add value to the destination itself.

“Through AR technology, we can provide a new channel for artists, both local and international, to showcase their work. AR technology allows us to overcome obstacles related to art exhibitions, such as geographical constraints, physical space limitations, or operation hours of a physical art gallery or museum.

“AR makes it easier for artists to reach a wider audience. Their work can now be experienced in any location, as long as the viewer has a smartphone or a tablet,” he said in his speech before the launching ceremony of the ARmenian Park project yesterday.

Yeoh added that the Penang government had been adopting holistic methods which emphasised sustainability and personalisation to enhance the travel experience through digital technology.

The ARmenian Park project is supported by the Penang government, Petace, Penang Island City Council and the Penang2030 team.

Chief Minister Chow Kon Yeow lauded the success of the ARmenian Park project.

“You are changing the name of our park… from Armenian Park to ARmenian Park,” Chow said in jest.

“I believe that you have chosen Armenian Park (to kickstart the project) because it has the letters ‘AR’ in its name.

“Well…we have two or three more parks with ‘AR’ in their names, and you can work on them next.

“We have the Areca Park in Sungai Pinang, and the Ara River Linear Park (Taman Jajar Sungai Ara) in Sungai Ara.

“So, you can continue to work on the ‘AR’ parks in Penang. You are welcome to explore other (potential) ‘AR’ parks in the state,” he said, receiving applause from the visitors at Armenian Park.

Chow said the Armenian Park is now an ‘open-air gallery’.

“The adoption of AR technology brings together the physical and digital worlds through new and exciting ways, allowing visitors to experience art from a different perspective.

“The AR technology can also provide visitors with additional information about the art on display. This helps visitors to better understand and appreciate the work of the artists.

“Art plays a significant role in the preservation of a country’s cultural heritage. In Penang, art is an essential aspect of our cultural identity, reflecting our values, beliefs, and heritage,” he said.

Chow added that the AR technology in Armenian Park broadened the possibilities of exhibiting art in places other than galleries or museums.

“We believe that this AR park in Armenian Street will establish itself as a new landmark for Penang., attracting visitors to experience the magic of AR technology and art.

“We hope that this park will inspire creativity, and innovation, and bring people together to experience something truly special; in line with the Penang2030 vision,” he said.

It is learnt that Penang Art District has provided funding of RM30,000 for the purchase and installation of AR technology in Armenian Park, with Perk Reality providing service and maintenance of the technology.

Chow thanked Yeoh, Penang Art District and Perk Reality for making this project a success.

Also present were Chow’s wife Tan Lean Kee, Komtar assemblyman Teh Lai Heng, Perk Reality founder Aboud Fares, Taipei Economy and Cultural Office (cultural division) director Ellen Ko, and Penang Art District project manager Kenny Ng.

Ng said there were 19 ‘scan boards’ in Armenian Park for visitors to scan with their smartphones or tablets; after which, they can experience the magic of AR and view the content.

“We will change the content (artworks) monthly, providing a platform for more artists to showcase their work,” Ng said.

Visitors need to download and turn on the Perk Reality application to experience the AR technology.

The app is available on the Apple App Store and the Google Play Store.

Hunza Group has added another milestone to its record amidst a year of celebration for its 45th anniversary. In a star-studded Metro Finance Hong Kong Leaders’ Choice Award Ceremony held on 9 February 2023 in JW Marriott Hotel Hong Kong, the eminent developer from Penang clinched the Excellent Brand of Overseas Property Developer for the seventh consecutive time. Hunza Group remains the only developer in Malaysia to be accorded this top accolade in Hong Kong, and is a strong testimony to its well-established brand in the region known also as Asia’s top financial hub.

The Hong Kong Leaders’ Choice Brand Award is a representative corporate annual event that bestows award and public recognition to brands which have shown outstanding standards in quality as well as performance in their respective fields. Instituted by Metro Finance under the umbrella of Metro Radio Hong Kong, the award recipients were voted in by established entrepreneurs after a rigorous process of nomination by an independent panel of respectable judges. The recognition by equals in the commercial sphere adds to the weight of the award as a significant brand acknowledgment.

The ceremonious evening on 9 February 2023 was graced by the attendance of Guest of Honour Mr. Chris
Tang Ping-keung, the Hong Kong’s government Secretary for Security, and Mr. Sung Man-hei, the Managing Director of Metro Broadcast Corporation. After a 2-year hiatus from in-person event, there was much fanfare about for this year with the presence of many influential figures from both Hong Kong and overseas. Mr. Sung delivered the welcoming remarks before Mr. Tang took to the stage to congratulate all winners and business leaders. In his speech, Mr. Tang also highlighted the positive trajectory of Hong Kong’s future economy particularly with the border reopening.

Alongside the conferment to leading players from the banking and finance industry, there was also a nod to outstanding player in the property industry. The sole winner under this category from overseas was none other than Hunza Group. Ms. Khor Tze Ming, our Group Executive Director, represented the company to receive the honour on stage in the attendance of fellow business peers. In her appreciation remarks, she mentioned: “This award is a joyous tie-in to our 45th Anniversary celebration which is happening this year with the theme of FORTIFYING THE FUTURE! We are very thankful for the support of our partners and customers in Hong Kong for this recognition, and we will continue to deliver to the best of our brand together with our exclusive partner here, Jade Land Properties.”

Even with the border closure since the pandemic hit, Hunza Group has never relented in its Hong Kong campaign to promote Penang as the preferred destination for living, investment and retirement. Coupled with the expertise and knowledge of its local partner Jade Land Properties, Hunza Group’s leadership position in the Hong Kong market is well upheld. Currently, both entities are gearing up for the imminent Hong Kong launch of its MUZE @ PICC’s penthouse series, the MUZE Signature VI.

The first of the set pieces for the larger PICC, MUZE @ PICC is the tallest smart residential building in Penang which consists of 846 units of high quality homes that combine luxury living with flexibility as well as practicality. It is slated for completion in early Q2 of 2023. Hunza Group will then embark on the fullscale construction of PICC’s next stage – Phase 2 – which will be made up of serviced residences, a lifestyle mall, Global Business Services (GBS) hub and an international hotel. Concurrently in 2023, the Group will kick-start on its progress for several other projects such as Mekarsari Unggul (Phase 17 of Bandar Kepala Batas), Taman Seri Bayu Phase 3C and The Millennia @ Bukit Gedung, the maiden RMMPg project in collaboration with Penang State Housing Board.

Yet another proposed residential development by Airmas Synergy Sdn. Bhd. in Bukit Mertajam. Located along Jalan Tan Sai Gin 3, adjacent to Taman Tan Sai Gin and Dutamas Residence by the same developer. It is only about 1km away to KTM station, just a mere minute’s drive to Bukit Mertajam town centre.

This development will feature 26 units of 2-storey terrace houses, with easy access to an abundance of surrounding amenities which include Jit Sin Independent High School, banks, markets and popular eateries.

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

Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Residential
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units: 26
Indicative Price : (to be confirmed)
Developer : Airmas Synergy Sdn. Bhd.

SP Setia Bhd will begin new projects within Setia Fontaines, an integrated development north of Seberang Perai, Penang, which is benefiting from growth from a nearby 850-acre industrial park.

Setia Fontaines is a 1,691-acre township with a gross development value (GDV) of RM12 billion. It will include commercial development including office space, a trade centre, warehousing, a technological hub, shopping centres, F&B, a convention centre, a hotel, and a leisure area.

Wong Wei Sum, an analyst with Maybank Investment Bank (Maybank IB), said that the company recently visited Setia Fontaines and was informed that the project accounted for 10 per cent of SP Setia’s remaining GDV.

As end-Dec 2021, SP Setia has a remaining landbank of 7,237 acres worth RM122 billion in GDV, spread over Malaysia, London, Singapore, Vietnam, and Australia.

“Setia Fontaines offers a similar eco theme as Setia Eco Park but is more affordably priced like Setia Alam. The catalyst to the project include the industrial park nearby, which could offer employment opportunities and attract new population to the area over the longer term,” she said in the firm’s research report.

She stated in a note that the project, which primarily offers standard landed properties, is anticipated to still have at least 25 to 30 years of development left.

According to Wong, the project has produced stable and increasing sales for SP Setia since its launch in 2018.

The project generated RM157 million in sales (+89 per cent year on year), or 4 per cent of SP Setia’s property sales.

She disclosed that Setia Fontaines’ products are more premium (RM500,000 to RM600,000 per unit), in comparison to nearby competitors like Scientex Bhd’s Tasek Gelugor and Sungai Dua developments, which are priced at RM250,000 to RM280,000 per unit.

“We suspect the premium pricing is due to the Setia brand name and a well-designed development plan. The project’s sizeable land area of about 1,000 acres also signifies SP Setia’s long-term commitment and this somehow has provided confidence to the potential buyers and increased the perceived value of their purchase, we think,” she said.

Wong said that SP Setia will launch the commercial plot with a GDV of RM130 million and 450 units of landed residential properties with a GDV of RM400 million in the third quarter of this year (Q3 2023), after receiving a positive response to the launch of Amansara North in the fourth quarter of 2022.

Amansara North has a GDV of RM296 million and 499 landed residential units. Some 80 per cent of the units have been sold, with an average selling price of RM580,000.

Wong also disclosed SP Setia’s continued focus on reducing its debt level through the sale of non-core landbank assets and strategic joint venture partnerships for some of its projects to reduce the up-front project development expenses.

“Apart from that, cash flow repatriation from its overseas projects will help to lower its debt level,” she said.

Source: NST Online

Artist impression of a GBS building near Bayan Lepas Technoplex

Muhibbah Engineering (M) Bhd has bagged a RM172.6 million construction contract from Penang Development Corp for a development in the Technoplex industrial area located in Bayan Lepas, Penang.

The proposed development involved a nine-storey office building and factory, a six-storey parking building with a TNB sub-station and mechanical requirements, and one unit of normal waste depot, office waste depot and recycling room.

The contract is scheduled to commence on Feb 13 and is expected to be completed within 14 months from the commencement date.

Source: TheEdgeMarkets.com