AME Elite Consortium Bhd and Majestic Builders Sdn Bhd will jointly develop a RM1bil gross development value (GDV) integrated industrial park in Seberang Perai Tengah, Penang.

The industrial space solutions provider, in a statement, said its wholly-owned subsidiary Northern Industrial Park Sdn Bhd and Majestic Builders had jointly formed a special purpose vehicle (SPV) to undertake the industrial park development.

The SPV, Suling Hill Development Sdn Bhd, has entered into a sale and purchase agreement with landowner Waz Lian Holdings Sdn Bhd to acquire the 175.98-acre freehold development land for a total purchase consideration of RM130mil.

According to AME, the acquisition will be satisfied partly via cash amounting to RM80mil, while the remaining consideration of RM50mil is anticipated to be settled in-kind via industrial properties from the intended industrial park development within 24 months upon fulfilment of conditions of the sale and purchase agreement.

“We are thrilled to find in Majestic Group an equally visionary partner that yearns to bring the tested concept of our fully-integrated industrial parks to Penang, to attract even more high-quality investments.

“The tremendous job-creation and economic multiplier effects from the proposed industrial park will certainly position Malaysia as an advanced industrial hub, conducive to propel the expansion of growth-focused multinational and domestic corporations,” AME Elite group managing director Kelvin Lee Chai said.

“This strategic acquisition is consistent with AME Elite’s strategy of expanding our i-Parks beyond Johor. We anticipate the next seven years to be very exciting for us as this project with potential GDV of RM1bil comes into fruition,” he added.

Source: TheStar.com.my

As the first project to be launched on Andaman, The Meg is a serviced apartment that is equipped with a wide variety of amenities and designed specifically for millennials who seek to live a modern lifestyle at a relaxed pace.

Apart from being a brand that is associated with sleek, classy and unique designs, E&O’s properties in Penang are in highly coveted location, Seri Tanjung Pinang. Moving from strength to strength, E&O’s new island township, Andaman, with its strong connectivity to Seri Tanjung Pinang, Gurney Drive and Pulau Tikus, promises to be the up-and-coming new address to look out for.

Furthermore, the location of The Meg at the heart of the commercial precinct on Andaman means that all your life’s necessities are all within a stone’s throw away thanks to the commercial establishments providing various types of services that are located within the precinct. Designed to be an iconic apartment in Penang which embodies the concept of trendy living, The Meg offers residents a panoramic view of George Town’s skyline and Gurney Wharf. Imagine waking up to the sounds of gently lapping waves and natural light from the morning sun shining across the shores of the island, what else could you ask for?

Hailed as the first of its kind in Penang, The Meg flawlessly combines the concepts of communal working, dining and living all into one through the extensive amenities built within the apartment’s compound. This innovative concept aims to make home a place where you can work and enjoy leisure time with your friends and family or even just by yourself at your own pace.

With fully furnished units that are ready to be moved in, the Meg is undeniably the prime choice for first time homeowners as it eases the often tedious process of setting up a new home.

As a residential project that also promotes sustainable and healthy living, The Meg is filled with beautifully landscaped gardens and constructed with various facilities that allow residents to unwind themselves in lush greenery. Apart from a sizable swimming pool which comes with a kid’s pool and jacuzzi as well as a pool deck where residents can organise barbeque parties and other leisure activities. The facilities deck is also designed with several well-terraced thematic gardens, canopy walk and garden maze which allow residents to go for a morning walk, jogging and yoga.

Realising the rising number of electric vehicles on the road, the car park of The Meg will also be equipped with modern electric vehicle (EV) charging stations where residents can conveniently leave their electric vehicles for an overnight charge. Staying true to the vision of the E&O Group in creating flawless home living experiences, The Meg is definitely a property that cannot be missed by young professionals who sought to live their lives full of energy and positive vibes.

For more information, visit https://www.easternandoriental.com/themeg/.

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A proposed small landed housing development by General Supreme Sdn. Bhd. (a subsidiary of Airmas Group) in Bukit Mertajam. Strategically located near Jalan Betek, diagonally opposite Harmoni Residensi gated and guarded community by the same company. With direct access to the ever-bustling Jalan Song Ban Kheng, an abundance of essential amenities are easily accessible within a mere minutes’ drive, which includes public schools, banks, markets, popular eateries and others.

This development comprises 26 units of 2-storey terrace and 4 units of bungalow houses.

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
Total Units: 26 (terrace), 4 (bungalow)
Built-up Size: (to be confirmed)
Land Tenure : Freehold
Indicative Price : (to be confirmed)
Developer: General Supreme Sdn. Bhd.

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 Penang Island City Council (MBPP) has confirmed that illegal land clearing is being done near Taman Sahabat Indah, Kampung Suluk in Teluk Kumbar, Bayan Lepas.

Local leaders and residents have recently voiced concerns as to the nature of the work, whether it was for the construction of the foreign workers’ hostels to which they had vehemently objected or other projects.

The council said a stop-work notice had been issued against the land owner on Aug 5.

“MBPP’s engineering department had conducted site inspection after receiving a public complaint about the clearing work. During our inspection, we found felling of trees, cutting of slopes and construction of a temporary road using an excavator.

“A verbal order had been given to the excavator operator to stop all work, which had been adhered to.

“We also issued a stop-work order to the landowner and for other measures to be taken,” it said.

MBPP said, among others, the landowner also had to immediately put up fencing and close up the road leading to the site to prevent any further work.

“The landowner also has the responsibility to ensure that the site remains safe and does not cause danger and harm to nearby residents, public property or the surrounding.

“An investigation paper has been opened, which will be followed by legal action,” it added.

It was reported that the Penang government planned to construct foreign workers’ hostels to house some 50,000 people on three plots of land in Teluk Kumbar near here.

The plan had been met with widespread objection.

In recent days, there have been calls to do away with the foreign workers’ hostels in Teluk Kumbar, particularly from Bayan Lepas assemblyman Azrul Mahathir Aziz and Balik Pulau member of parliament Datuk Muhammad Bakhtiar Wan Chik.

Azrul said local residents had told him that they would launch a massive protest if the state government proceeded with its plan.

“As such, I urged the state government to intervene and review or cancel this plan,” he added.

Bakhtiar, meanwhile, urged the local authorities to hold engagement sessions with the local residents before proceeding with the project.

Source: NST Online

At a cost of almost RM6.45 million, the Penang Housing Board (LPNPP) is going to build 3-storey low-cost flats on an abandoned plot of land near Lorong Murai Jaya here and is expected to be fully completed within 12 months from now.

Chief Minister, Y.A.B. Tuan Chow Kon Yeow informed that eligible local residents will be given priority to be offered units through a project that will consist of 36 residences with a floor area of ​​700 sq.ft. per unit through the rent-to-own method for a period of up to 25 years as stipulated by LPNPP.

“These houses may not be sold but eligible applicants will be offered to pay rent (through the ‘rent-to-own’ method) which when the term (‘rent-to-own’) expires within a period of 20 years or 25 years (i.e. ) payment every month (completed), finally the house will belong to the residents.

“This would mean they don’t need to get a (housing) loan from the bank (first), but can continue to move in because this is the State Government’s social responsibility,” he explained before completing the groundbreaking ceremony for the project here yesterday.

According to Mutiara Bulletin, the 0.8 acre land for the low-cost housing has already been abandoned for almost 35 years and the private developer firm has finally agreed to hand over the vacant land to the local authority (PBT).

The State Government through the LPNPP appointed the Penang Development Corporation (PDC) to manage the development of the abandoned land.

Source: Buletin Mutiara