A newly proposed beachfront hotel residence development by TGR Developments Sdn. Bhd. at Batu Ferringhi. Strategically located on approximately 4 acres of land along Jalan Batu Ferringhi, adjacent to Bayview Beach Resort. It is probably going to be the last hotel built along the stretch of Jalan Batu Ferringhi road before Teluk Bahang.

This development will see the construction of a 16-storey building, comprising a mix of hotel rooms and serviced residences with 4 levels of car parking podium. There will also be several commercial lots located at the ground level. Serviced residences will have their facilities located above level 11 whereas hotel facilities will be located at lower levels.

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

Project Name: (to be confirmed)
Location : Batu Ferringhi
Property Type : Hotel and serviced residence
Total Units: 480 (serviced residence)
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: TGR Developments Sdn. Bhd.
Last Update: Nov 2024

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.

The demand for real estate in the industrial sector is leading the way to full economic recovery for the property sector in Malaysia.

Despite the rising concerns over inflation, property consultant Knight Frank said, the industrial property sector was already “flourishing” while demand for real estate in the retail sector across the Klang Valley, Penang, Johor Baru and Kota Kinabalu is “slowly recovering”.

In the industrial sector, the logistics segment is seeing growth, with third-party logistics and warehousing space showing the highest demand, Knight Frank said in a press statement release this morning.

In the Klang Valley alone, it said, 2,050 industrial properties worth RM9.21 billion changed hands in 2021, reflecting an annual increment of 20.2% in transacted volumes and 23% in value.

Allan Sim, executive director of land and industrial solutions at Knight Frank Malaysia, said that with more multinationals setting up new businesses and facilities in the Asean region, Malaysia is expected to benefit from the diversification and reshaping of the global supply chain.

Nonetheless, challenges remain. Sim said the main concerns among manufacturers and logistics players were rising transportation costs, shortage of labour and disruptions in the supply chain.

Institutional investors and real estate investment trusts are driving the demand for real estate in the industrial sector in Malaysia.

For instance, Sim said, the first industrial-related real estate acquisition by KIP REIT was a mixture of industrial land and facilities in Pulau Indah worth a total of RM78 million. KIP REIT is a real estate investment trust with a portfolio of community-centric malls.

In addition, Capitaland Malaysia Trust purchased a 5.11ha freehold industrial warehouse in Batu Kawan, Penang, for RM80 million, and IJM Corp partnered with China Harbour Engineering Company Ltd for their first industrial and logistics development in Kuantan.

Mark Saw, executive director at Knight Frank in Penang, said there is now an encouraging demand for logistics facilities to serve an expanding e-commerce sector.

“Batu Kawan Industrial Park will continue to be the main hotspot over the next three years,” he said.

However, Knight Frank cautioned, with the rise in the overnight policy rate to 2.25% in July and further potential hikes this year amid rising domestic and global inflationary pressures and the on-going geopolitical tensions, the growth momentum could be derailed.

Source: FMT Online

About Terraces Condominium

A highrise residential development by IJM Land at Bukit Jambul, Penang. Strategically located on 9.32 acres of land next to INTI International College. It comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from.

(Photo taken in July 2022)

Find out more about Terraces Condominium

The proposal to build a centralised workers’ quarters (CLQ) at the industrial area in Penang Technology Park in Bertam, Kepala Batas has been cancelled.

Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman said the developer decided not to go ahead with the project after taking into account the views of the various stakeholders.

“The stakeholders include local residents, local leaders, and other technical departments.

“We are delighted to receive information from the developer to not proceed with the development of CLQ.

“We will monitor the Penang Technology Park’s project to ensure it benefits the people in the state,” said Zakiyuddin, who is also the Penang Technology Park Monitoring Committee chairman during a press conference in Komtar today.

Zakiyuddin said the developer was now in the process of working alongside the industry.

“For the time being, the state is of the view that there is a need for the industry to manage the workers’ placement and encourage the industry to consider if it is necessary to develop the CLQ,” he said.

“We will be monitoring the situation from time to time.”

Meanwhile, the public is welcome to attend the Perkampungan Khaira Ummah 2030 (KAMPUNGKU2030) event in Masjid Ibadur Rahman, Kepala Batas, starting tomorrow until this Sunday.

“Those who attend the event can gain more knowledge of the state’s initiative in religious development,” he said, adding that Penang Governor Tun Ahmad Fuzi Abdul Razak is slated to launch the event.

On a separate matter, Zakiyuddin announced that the allowance for meeting attendance for the 375 Village Community Management Councils (MPKK) in the state would be increased from July 1 this year.

Source: Buletin Mutiara

About Garden Superlink II @ Jesselton Hills

The second phase of Garden Homes Collection in Jesselton Hills, Alma by Wing Tai Asia. It comprises 75 units of two-storey superlink homes with extended size up to 26ft wide, surrounded by lush greenery and wholesome recreational amenities. The residential enclave is strategically located close to comprehensive public amenities for commercial and leisure.

(Photos taken in July 2022)

Find out more about Garden Superlink II @ Jesselton Hills