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UPCOMING: Simpang Ampat / Tambun Indah Group

Simpang Ampat/ 8 December 2021 No comments

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Yet another proposed serviced residence by Tambun Indah Group at Pearl City township in Simpang Ampat. Located along Persiaran Mutiara 8, this will be the third high-rise development within the vicinity of Pearl City. It is adjacent Palm Garden,  just across the street from Pearl City Mall and GEM International School.

This development comprises a 21-storey serviced apartment, featuring 359 residential units with six levels of multi-storey car parking podium. There will also be 10 units of 2-storey shoplots located at the ground level.

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

Project Name : (to be confirmed)
Location : Simpang Ampat, Penang
Property Type : Serviced apartment
Total Units: 359
Land Tenure: Freehold
Indicative Price : (to be confirmed)
Developer : Palmington Sdn. Bhd. (Tambun Indah Group)

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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.

Kerjaya Prospek buys Batu Kawan land

Property News/ 7 December 2021 5 comments /中文版

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Kerjaya Prospek Property Bhd’s wholly-owned subsidiary, Pixel Valley Sdn Bhd (PVSB), is acquiring a 1.97 hectares freehold land from Aspen Vision City Sdn Bhd (AVC) in Penang for RM27.57 million.

In a filing with Bursa Malaysia today, it said PVSB has entered into a purchase and development agreement with AVC following the proposed acquisition.

It said the proposed acquisition would enable Kerjaya Prospek Property to focus on its core business of property development as well as expand and strengthen its landbank size.

“It is strategically located at Bandar Cassia, Batu Kawan, Penang. The proposed development of the property is a mixed development comprising serviced apartments and some commercial/retail lots,” it said.

It added that barring any unforeseen circumstances, the proposed acquisition is expected to be completed within 90 days from the unconditional date, which is expected to be completed by July 2022.

Source: Bernama

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SITE PROGRESS: Nusacinta @ Setia Fontaines (Dec 2021)

Property News/ 6 December 2021 No comments

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About Nusacinta @ Setia Fontaines

The second residential component to be launched in the 1,675-acre Setia Fontaines master-planned township development by SP Setia. This will be the first gated residential precinct located next to the 63-acre man-made lake with a musical fountain. It comprises a total of 294 landed residential units, offering a few types of landed houses with built-up size ranging from 1,332 sq.ft. up to 2,943 sq.ft. Indicative price starts from RM420,000 onwards.

Find out more about Nusacinta @ Setia Fontaines

Register your interest here. We will keep you updated.

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer to initiate follow-up communications with you on the project.)

Land reclamation can be a good thing

Property News/ 6 December 2021 1 comment

Karpal Singh Drive

Despite the bad press and claims by non-governmental organisations that Penangites are generally against reclamation projects, many people and local businesses have benefited from such developments.

Reclamation projects have given locals a place to call home and access to important infrastructure, and businesses new opportunities that generate new economic activities.

Lee Wan Tong, 70, a long-time Pengkalan Weld resident, said the reclamation project in George Town created more land in the city to provide more homes for the people.

His village home on TOL (temporary occupancy licence) land off the Raya Merdeka Highway near the iconic floating Hean Boo Thean Kuan Yin Temple was built on land reclaimed by the state government more than 50 years ago.

“There was nothing here but rubbish until the area was reclaimed. Over 200 homes were built on the manmade land.

“When I first lived here, all the houses had no utilities. We had to get water from outside the village.

“The reclamation gave us a place to build our homes. It was certainly better than staying in a flat. Today, it is not so easy to find a Chinese village like this elsewhere in the city,” he said.

The reclaimed land where Lee’s home stands today is a stone’s throw from George Town’s earliest reclamation project, which took place in the 19th century when Penang was under colonial rule.

The British administration reclaimed Pengkalan Weld for harbour trade activities. Piers and warehouses were built there, as well as historic and heritage landmarks such as the Malayan Railway Building (now Wisma Kastam) and the famed Clan Jetties.

From the 1960s onwards, more land reclamation projects were carried out to meet urbanisation demands – altering the island’s turtle-shaped outline.

From Pengkalan Weld, reclamations have extended along the island’s eastern shoreline, all the way south to the Penang Bridge and beyond.

The reclamation along the island’s eastern shoreline, which is still ongoing today, first began in the 1990s when developer IJM built the Tun Dr Lim Chong Eu Expressway (previously known as Jelutong Expressway).

The project to create Penang Island’s sole expressway linking George Town and Bayan Lepas was undertaken by IJM in exchange for rights to reclaim the Jelutong seafront for its massive mixed development projects.

Among the projects completed by IJM over the last 20 years in the Bandar Sri Pinang development are low- and low-medium cost flats, apartments, condominiums, three-storey link houses, shop lots, light industrial lots and others, including an international school.

The development also gave Penang island one of its most vibrant seafront promenades and commercial areas – the iconic Persiaran Karpal Singh and Automall Karpal Singh Drive, which have grown into popular lifestyle attractions.

Derick Ooi Tze Wei, 41, who owns a hair salon at Automall, said Persiaran Karpal Singh was attractive because of its strategic location next to the expressway and halfway between George Town and the Penang Bridge.

Because of this, businesses at Automall also recovered quickly after the pandemic movement restrictions were lifted, he said.

“We get good crowds throughout the week, especially on weekends when there are 20% more people.

“I think being in front of the sea is a contributing factor. People like the environment. So business is good here,” he said.

Ooi said he also had reservations at the beginning when he set up his shop but when he heard Starbucks was also opening on Persiaran Karpal Singh, he was certain his decision was right.

“When we first opened in 2014, we were one of the pioneers. There were only two other shops. But within a year, boom! Others started coming,” he said.

Ooi said it was inevitable for Penang island to reclaim more land for better development in the future.

“We don’t have enough land, so that is our only option. Look at Singapore,” he said.

Leon Lee, founder of integrated property solutions consultancy Zeon Properties, whose office is also on Persiaran Karpal Singh, said reclamation projects helped spur development and stimulate economy in their respective areas.

Such projects, said Lee who is a member of the Malaysia Associated Chinese Chambers of Commerce and Industry national council, offered more than just high-end residential and commercial properties.

“The Bandar Sri Pinang project also built the Fisherman’s Wharf food court, which has given local hawkers a place to make a living for their families.

“When the Automall opened, many businesses opened their first outlets like Coffee Smith for example. If a new business becomes successful, it will expand and create more jobs.

“Look at the promenade, which has given many families a place for recreation and leisure. The promenade also hosted the New Year countdown three times in past years,” he said, pointing out how the reclamation project had benefitted many Penangites in both economic and social aspects.

Leon acknowledged that some people had prejudices against reclaimed land.

“They say reclaimed land is not real, not good, and unsafe because it is built over dumpsites. But so many countries around the world have reclaimed land to build.

“Reclamations are also not done with the purpose of destroying the earmarked sites and their surroundings. They are to bring development and generate growth for the people’s benefit,” he reiterated.

As an economy that depends on the services and manufacturing sectors, Leon said Penang must continue to develop and provide the right environment to attract investors, visitors, and talent.

“We want international investors and visitors to come. We want to attract international brands to our FIZ (free industrial zone). They are not going to come if Penang has no development.

“Even if we have land to develop in Seberang Perai, it will not be the same because the location is different and some investors may not be interested.

“Penang Island is just special because it is an island, and that is the selling point.”

Source: TheStar.com.my

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JHM and QES spread their wings to Batu Kawan Industrial Park

Property News/ 4 December 2021 2 comments

llc in batu kawan

The Batu Kawan Industrial Park (BKIP) in south Seberang Perai, which is poised to be the next ‘Silicon Valley of the East’ after Bayan Lepas Free Industrial Zone (FIZ), continues to attract an influx of investments and job creations from local corporations.

Two public-listed large local companies (LLCs), namely JHM Consolidation Berhad (JHM) and QES Group Berhad (QES), have clocked in their investment projects with a combined investment value of RM190 million. They are set to generate over 1,100 job opportunities in five years.

Constructions of both expansion projects are scheduled to be completed by 2023.

Last month, three LLCs, namely Greatech Technology Berhad (Greatech), Pentamaster Corporation Berhad (Pentamaster) and UWC Berhad (UWC), had announced a total of RM520 million expansion plans in BKIP.

new-llc-bkipChief Minister Chow Kon Yeow, who was present during the investment announcement ceremony of JHM and QES at the Penang Development Corporation (PDC) headquarters in Bayan Baru, applauded the two local companies for their decisions to house their manufacturing sites in Penang.

“The entrance of JHM and QES is an acknowledgement of the robust industry clusters in the state.

“JHM and QES are among the key players in the country’s electrical and electronics (E&E) supply chain. JHM is an electronics manufacturing services (EMS) provider, which specialises in one-stop engineering solutions while QES specialises in the manufacturing of equipment and provision of engineering services.

“We are proud to be the location of choice for the expansion plans of both companies.

“With the strong presence of multinational corporations (MNCs), LLCs and auxiliary industries closed to one another, these companies are able to enjoy far-reaching benefits in terms of operational advantage and increasing penetration into the global supply chain.

“We are also grateful to have existing industry players, who stand by us throughout the journey as well as newcomers who place their trust in us as we celebrate our 50th anniversary of industrialisation journey next year.

“We pledge to be the leader by continuously making Penang’s position as a destination of choice for investments,” he said in his speech during the event.

Chow pointed out that Penang is the most important manufacturing base for E&E products in the country.

“We are among the most vibrant hubs globally, with an estimated of 5% of global semiconductor exports.

“Our exports had surpassed the RM300 billion mark in 2020 to reach a record high of RM310 billion, despite the Covid-19 pandemic. It was mainly contributed by E&E and professional, scientific and controlling instruments, including medical devices,” he added.

Chow also thanked the Malaysian Investment Development Authority (Mida), InvestPenang and PDC for their hard work and efforts to facilitate these investments.

“Congratulations to JHM and QES on your latest achievements. We look forward to seeing the two new facilities in BKIP in the future,” he said.

JHM Consolidation Berhad group chief executive officer Datuk Tan King Seng was delighted to be part of Penang’s robust industrial ecosystem.

“We are setting up a two-storey facility, with 350,000sq ft build-up area in BKIP, with an investment of RM170 million.

“JHM will broaden the business portfolio to include assembly and test services for telecommunication equipment and devices, through this expansion,” he said.

QES Group managing director Chew Ne Weng said the expansion in BKIP would be the company’s second factory in the country. The first one is located in Shah Alam, Selangor.

“The estimated investment for this project will be about RM20 million, which includes the land, construction, facilities and manpower.

“This plant will cater to our expansion in ATE (automated test equipment) manufacturing as well as a new venture in IR4.0 Smart Manufacturing Solutions.

“It is expected to provide 100 new job opportunities in three years’ time, which include engineers, technicians, administrative and executive personnel, ” he said.

Source: Buletin Mutiara

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