The Priority One (Phase One) of the iconic Gurney Wharf project is expected to be completed in March next year.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the RM200 million project, which is an initiative of the Penang government, has several components.

They are divided into Priority One and Priority Two.

“Among the facilities to be built under Priority One are a children’s playground, skate park, viewing deck (south vantage point), public toilets, pedestrian promenade, trader’s kiosks, recreational park, landscape areas and open space car parks.

“Under Priority Two, the features include additional landscaping areas, more recreational parks, a hawker centre, a viewing deck (north vantage point), public toilets, more trader’s kiosks, multi-storey car parks, open space car parks, a beach area and boardwalk, water garden, and the drainage system.

“The construction works for Priority One and Priority Two are taking place concurrently. The ground-breaking ceremony of the project was held in May this year.

“So far, the construction works of components in Priority One and Priority Two are going on smoothly.

“In short, we expect the Gurney Wharf project will be fully completed by 2025,” Jagdeep told a press conference during a site visit today.

According to Jagdeep, the main intention of the state government in initiating the project is to benefit the people of Penang from various age groups when they carry out social and family activities.

“We hope that a project like this can strengthen family ties and improve the quality of life and productivity of the locals.

“It is hoped that when this project is completed, it will be another new attraction to the state as well as increase high-quality added value, especially in contributing an economic spill to the residents of the Gurney Drive and the people of Penang as a whole,” he added.

Source: Buletin Mutiara

Houses worth from RM500,000 to RM1mil will enjoy an increase in stamp duty exemption from 50% to 75% until Dec 31, 2023.

Stamp duties for the transfer of property between families is subject to a stamp duty of RM10.

The allocation for building new and renovating houses in rural areas has been increased from RM367mil to RM460mil.

A RM367mil allocation has been provided for People’s Housing Projects in urban areas including new projects in Marang Terengganu and Arau, Perlis which will benefit 12,400 people.

4,250 housing units worth RM358mil will be built under the Rumah Mesra Rakyat program.

The 100% stamp duty exemption for first-time homeowners remains, applicable for properties priced RM500,000 and below through the Keluarga Malaysia Home Ownership Initiative (i-Miliki) initiative from June 1, 2022 to December 2023.

RM290 million will be allocated to repair old lifts at low-cost high-rise residential schemes.

Source: The Star

State Local Government, Housing, Town, and Country Planning Committee chairman Jagdeep Singh Deo announced that Penang Home Ownership Campaign (HOC 3.0) will be extended for one more year from January 1 to December 31, 2023 to help first-time buyers achieve their home ownership dream and to help developers promote affordable housing.

He said the decision was approved at yesterday’s executive council meeting and thanked all executive councillors and Chief Minister for their endorsement of the scheme.

10% discount for affordable housing until Dec 2023

“Under this scheme, those who apply for affordable housing next year will receive a 10% discount for one year. For example, the affordable housing scheme in Penang Island will be reduced from RM150,000 to RM300,000, to RM135,000 to RM270,000.”

He said that this decision taken by the government is not easy in these challenging economic times, but in order to ensure that people have their own homes, the government is willing to continue this policy of benefiting the people.

Jagdeep hopes that all developers will also work hand in hand with the Penang government to ensure an adequate supply of affordable housing in Penang and he is confident that this is a win-win strategy for the developers.

“The Penang government is willing to allow developers to increase the selling of affordable housing from 40% to 50% to the open market. In addition, the contribution fees of RM30,000 per unit is also reduced to RM10,000.”

He said the plan was agreed upon after several meetings among developers, as it was a win-win policy.

Affordable housing expo will be held this weekend, from Friday to Sunday

The affordable housing expo, which has been suspended for two years due to the epidemic, will be held at Prangin Mall in George Town from October 7 to October 9.

The expo will feature various affordable housing projects located in Penang Island and Mainland by eight developers. LPNPP will also be there to address questions about affordable housing applications.

“The Affordable Housing Fair 2022 will be held from 10am to 10pm and all interested parties are welcome to attend the event.

About Iconic Regency

A mixed development by Iconic Development Sdn. Bhd. at Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, next to SK Sungai Nibong. It is only 10 minutes walk to two future LRT Stations – Sungai Nibong & Pesta Stations. Featuring a 42-storey serviced suites with 268 fully furnished residential units.

Find out more about Iconic Regency

Artist impression

Tenaga Nasional Berhad (TNB) has launched a RM500mil project to boost electricity supply in Penang.

The project will see direct connection of supply from the national grid to Penang through overhead line transmission.

Slated for completion in 2024, the 275kV overhead line transmission will be in parallel with Penang Bridge through 31 monopoles, connecting the Prai Power Station (SJ) Main Inlet Substation (PMU) to The Light PMU on Penang island which will be built near Batu Uban army camp.

The project is set to be an iconic landmark of Penang due to the unique transmission line tower with a betel nut design.

It will be able to supply up to 2,000 megawatts (MW).

It is also the second of its kind in the country after the TNB 4.2km monopole overhead line project connecting Pantai Siring and Pulau Besar in Melaka.

Energy and Natural Resources Minister Datuk Seri Takiyuddin Hassan said currently the existing firm capacity in the island was 1130MW and expected to decrease when the Gelugor power station ends it service in August 2024.

“At the same time, supply demand is expected to increase in the future based on the peak load demand which reached 777.85MW in January 2020,” he said during his speech at the launch ceremony.

He said it was vital to implement the overhead line project which has a higher capacity compared to under-bridge cables and submarine cables.

The project, he noted, was capable of supplying 2,000MW from Prai to The Light PMU, depending on the load demand in the island area.

The project would be developed by three experienced companies in transmission line and sub-sea construction, he added.

One of the companies is the CHEC Construction (M) Sdn Bhd, which was directly involved in the construction of the Sultan Abdul Halim Muadzam Shah Bridge.

“This project is also the most sustainable, supplying electricity from the national grid to the island while taking into consideration its cost, safety, efficiency and stability of supply, including the speed of detecting any damage or disruption,” Takiyuddin said.

The project will be part of TNB’s ongoing investment in developing and modernising the national grid into a stable and reliable smart grid in meeting the country’s energy transition needs, the minister said.

Meanwhile, Chief Minister Chow Kon Yeow, in his speech, said the project to boost electricity supply in Penang would be the catalyst for the state’s development.

“We can plan carefully or strategise our mega projects, but it can’t materialise if we don’t have enough and stable power supply.

“This is where TNB has played its role with the project implementation,” he said.

Describing the project as high impact and quality, Chow said the tower would be equipped with aesthetic decoration lamps, making it another iconic landmark and attraction in Penang.

Also present were TNB chief executive officer Datuk Baharin Din, TNB chief grid officer Datuk Husaini Husin and state executive councillor Zairil Khir Johari.

Source: TheStar.com.my