Mitsui Outlet Park @ KLIA

Penang is expected to host a new Mitsui Outlet in the near future as Mitsui Fudosan Co Ltd and joint venture partner Malaysia Airports Holdings Bhd are awaiting greenlight from the state authorities.

The approval for the new mall, which would be located near Penang International Airport (PIA), was expected by the third quarter of this year, said TJ Cheah, who is managing director of MFMA Development.

MFMA Development is a 70:30 joint venture between Mitsui and MAHB, with the Japanese retail giant holding the majority stake.

“We’re planning to open (an outlet mall) in Penang. At the moment, we don’t have a date (of launching) because we’re still going through some processes with the local authorities.

“But we’re getting there. We’ll announce it soon, hopefully in the next month or two,” he told NST Business in an exclusive interview recently.

Cheah added that there was an opportunity up north that was missing, which led the company to choose Penang as the location to build the new outlet.

The plans for a Mitsui Outlet in Penang was first reported in 2018, with the media quoting Penang Federal Action Council chairman Datuk Seri Zainal Abidin Osman as saying that the construction of the mall would be part of the expansion of PIA.

Cheah said Mitsui Outlet in the country had gained traction in the last few years given that Malaysia was largely made up of mid-income group earners who prefers to shop discounted products or items are that below the original prices.

“I also feel that it fulfills the desire for them to upgrade themselves at an affordable price… I think Mitsui Outlet has been gaining traction.

“At first, people didn’t seem to understand what the outlet offers but when they realised that we offer discounts and products that are below the original prices, I think people find that as a really good deal,” he added.

Mitsui and MAHB recently launched Phase 3 of the Mitsui Outlet Park KLIA Sepang that featured a sports zone and an array of contemporary home and living offerings.

The Phase 3, which measures about 82,885 square feet of gross floor area, houses two brand new tenants – Objet and Courts as well as new concept stores by Adidas, Nike and Puma.

Cheah said the launch of Phase 3 was timely as the mall was seeing increasing footfall traffic, especially after Malaysia ended its lockdown and opened its international borders.

He said the Covid-19 pandemic had been challenging for the outlet in Sepang, but at the same time it had helped the company to think outside the box by leveraging on digital marketing as the main communication channel with its shoppers.

Some of the new efforts include “Live Exclusive Sales” via Facebook to create an alternative revenue stream for the outlet’s business partners, enhancing the website to promote direct engagement between the respective brands and customers and the introduction of online personal shopper as well as introduction of online contest entry.

When asked if online shopping would ever trump brick-and-mortar, Cheah said that the latter was still relevant in the retail industry particularly in Southeast Asia, although the online experience would continue to grow in the future.

“Our consumers (in Southeast Asia) prefer to touch and feel things. People drive all the way out here (Mitsui Outlet KLIA) to see the products themselves, feel it, test it, wear it, be comfortable with it, be satisfied before they make that purchase,” he said, adding that the mall was expected to welcome about four million visitors this year.

Source: NST Online

The Penang government will always strive to ensure Seberang Perai becomes the catalyst for growth of the state in the future, said Chief Minister Chow Kon Yeow.

He said his administration would focus on balanced development of both the island and Seberang Perai, where the Penang Development Corporation (PDC) had implemented strategic plans for growth of new development areas based on the “green and smart city” concept and an increase in asset value.

“Batu Kawan is one of the areas that is a catalyst for rapid growth of Seberang Perai and, as such, many industries are focused in that area. The state government, through PDC, is developing this area as the main industrial area like the Batu Kawan Industrial Park, Batu Kawan East and South Penang Science Park.

“The development plans in the Bandar Cassia Technology Park and Batu Kawan Industrial Park 3 will ensure there is sufficient industrial land to be offered to investors for industries like electrical and electronics, electronic manufacturing services, semiconductors, automotive and others,” Chow said during the winding-up session of the Penang State Legislative Assembly here on Friday (June 3).

He said that PDC will also carry out studies on the development of the Penang Science Park South as an area for general industries and food (a halal hub), which would involve the development of a logistics hub in the Seberang Perai area.

Apart from that, the Bandar Cassia Development Master Plan would feature a combination of mixed and integrated developments involving housing, commercial, education, medical and industries.

Although Seberang Perai is rapidly developing, Chow said the state government does not deny that there are problems like traffic congestion, waste management, river pollution and water supply issues, which still exist and had turned into “growing pains”.

He added that the state government had approved an allocation of RM316.13 million for the implementation of development projects this year, taking into account the needs of critical and high-impact projects.

“However, this allocation alone is insufficient to upgrade the facility and requirement network in Seberang Perai, and we need a bigger allocation to improve facilities and amenities,” he said.

Source: EdgeProp.my

About Havana Beach Residences

Affordable housing development by Ideal Property Group at Bayan Lepas. Strategically located near Jalan Tun Dr. Awang, less than 2km away from Penang International Airport. It is about 5 minutes walking distance to  SMJK Heng Ee (Bayan Baru branch).

*Images show progress in May 2022

Find out more about Havana Beach Residences

Penang luxury waterfront condominium, the second phase of Queens Waterfront – Queens Residences Q2 was completed ahead of schedule. The project is a partnership between Ideal Property Group and Ideal Gim Venture Sdn Bhd.

The stylish and elegant residential towers of Queens Residences Q2, sits on the tranquil bay adjacent to the vibrant neighbourhood of Queensbay Mall in Bayan Lepas, sets a prominent new land mark in the area. This mind-blowing luxury high rise with an overwhelming take up rate showcases home buyers’ confidence and strong demand towards the Group’s high end quality product offerings.

Queens Residences Q2 is a slice of paradise that is distinctive in many ways. Its prime location at seafront overlooking the unparalleled view of Penang Bridge and Second Penang Bridge, paired with sought-after neighbourhood that is completed with major public amenities and good connectivity have garnered high interest from property buyers looking for homes and investments.

The project encompasses 24 floors of residential units, garden units, podium facilities and commercial units. The living spaces available in multiple sizes ranging from 900 sqft to 1650 sqft make for a great residence, an upgraded work-from-home set up or even a good investment to acquire rental yield.

Residents of Queens Residences Q2 enjoy luxury waking up to the sight of sea, or opt to relax in the terracing infinity pool and sea lounge fronting the spectacular sea view. Other best-in- class facilities include a shaded family Jacuzzi and spa, an aqua therapy gym, hanging cocoon, kids lagoon and a garden for edible plants.

This upscale residence further expands its lifestyle offerings through its commercial component located at the ground floor and 1st floor. The thriving retail outlets will host a wide variety of alfresco dining, retail and lifestyle selections.

The completion of Queens Residences Q2 signifies a substantial achievement for the development of Queens Waterfront master plan. Ideal Property Group looks ahead to completing more components of the master plan, with aspiration to establish an iconic waterfront precinct in Penang.

The master plan of Queens Waterfront presents the best waterfront living through its unique nautical inspired development theme consisting of alfresco dining, a marina bay and a 700 meter promenade that offers residents a desirable waterfront lifestyle.

The development offers a series of public amenities which are developed to enhance the quality of life for the residents and local community, such as international sports center, international school/ private school and groceries and F&B outlets.

Queens Waterfront is also in close proximity to existing Penang International Airport, Penang Second Bridge, Bayan Lepas Free Industrial Zone, Terminal Bus Sungai Nibong, hospitals, finance institutions, recreation parks and leisure mall.

Queens Waterfront has won ‘Mix-used Development Award’ at the prestigious Asia Pacific Property Awards 2019-2020, based on its design, quality, service, innovation, originality and commitment to sustainability.
Besides the above award, Queens Waterfront had previously scored Excellence Winner of ‘The Poseidon Award’, ‘Best Condo Development (Penang)’, Excellence Winner of ‘The Northern Star Development Award’, ‘Best Leisure Waterfront Development’ and ‘Best Luxury Lifestyle Development’.

The Penang state government will issue a request for proposal (RFP) by the third quarter of this year for the implementation of its Bayan Lepas Light Rail Transit (LRT) scheme.

State infrastructure and traffic committee chairman Zairil Khir Johari said the state would invite experienced private companies to participate in the process.

“The state government will appoint the most suitable company to implement this component of the LRT project,” he told the state legislative assembly today when answering an oral question by A. Kumaresan (PKR – Batu Uban).

He said the state is now starting the pre-qualification process for the Bayan Lepas LRT scheme to identify qualified companies that are interested in implementing the project.

“The pre-qualification process is expected to start by the second quarter of this year while the RFP will be called by the third quarter,” he said.

He said interested companies will need to submit proposals on the technical aspects of the project along with a funding model to implement it.

“For example, the bidder will need to propose a recoupment method such as land swap, advertisement revenue and farebox revenue,” he said.

He said typically, public transport projects such as LRT would be funded by the federal government.

“Therefore, other than using the RFP process, the state is continuing to apply for funding from the federal government under the third rolling plan of the 12th Malaysian Plan,” he said.

Kumaresan then asked for contingencies in the event Putrajaya declines to finance the LRT project.

Zairil said the state will not rely fully on federal funding even though the state had consistently applied for this.

“We will continue with this project by other means possible, including through RFP,” he said.

The Bayan Lepas LRT scheme has received approvals from main technical agencies including from the Department of Environment and PLANMalaysia.

The project is now in the process of submitting an Environmental Impact Assessment (EIA) report for the LRT alignment in Penang South Reclamation (PSR) project including a LRT depot on Island A of PSR.

Zairil said the LRT depot is the main component for the Bayan Lepas LRT scheme.

“The Land Public Transport Agency will give its final approval to the Bayan Lepas LRT scheme after the EIA approval is obtained,” he said.

The Bayan Lepas LRT scheme is a main component of the Penang Transport Master Plan and it is a long-term plan to resolve traffic congestion issues on the island, he said.

He said a public feedback exercise held between August and November 2019 revealed that the project obtained 97.7 per cent support from 22,678 respondents.

“So, the state government is committed to implement the LRT project for the sake of the people’s future,” he said.

Source: MalayMail.com