A section of the Bukit Kukus paired road project under the Penang Island City Council (MBPP) is expected to be officially open to road users on Jan 13 this year.

Chief Minister Chow Kon Yeow and state Transport and Infrastructure Committee chairman Zairil Khir Johari, together with MBPP mayor Datuk Yew Tung Seang and MBPP secretary A. Rajendran, visited the project site today.

Zairil said MBPP had already completed its portion of the construction works recently.

“We are happy that finally a section of the project is 100% completed after six years in construction.

“It has been delayed for a few times due to the landslide incident, the Covid-19 lockdown and some technical issues involving additional works.

“Nevertheless, it has been completed now. We hope this iconic project will be able to solve traffic congestion at a rate of up to 30%.

“At a height of 55m from the pile caps, is the highest elevated highway in the country.

“Thus, this project is the state government’s legacy for the people of Penang.

“Hopefully, it will bring many benefits to the road users, especially residents of Balik Pulau, Paya Terubong and nearby areas,” Zairil told Buletin Mutiara during a site visit today.

The 5.5km paired road project, costing RM545.6 million, consists of three sections. It connects Paya Terubong and Relau.

The state government, through MBPP, is responsible for the construction of a 3.3km stretch that costs RM275.6 million.

Meanwhile, two more developers, PLB Land Sdn Bhd and Geo Valley Sdn Bhd, are responsible for the remaining 1.4km (RM150mil) and 0.8km (RM120mil) stretches respectively.

According to Zairil, the other two portions by the private companies would not be ready this year.

“PLB Land’s section is expected to be completed in 2025.

“Meanwhile, for Geo Valley’s section, the completion date is unknown due to an ongoing court case but they will do their best to expedite the project,” he added.

Source: Buletin Mutiara

Yet another upcoming affordable housing development by Penang Housing Board (LPNPP) at Teluk Kumbar. Located on a 4.2-acre land near Jalan Gertak Sanggul, just a stone’s throw away from Baymont Residence. It is surrounded by several seafood restaurants,  less than 5 minutes drive to Lexis Suites Penang and Tanjung Asam Beach.

This development will feature 800 units of mixed development, including affordable housing units with the construction work expected to be carried out at the end of this year

The project is still in the planning stage. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Teluk Kumbar
Property Type : Mixed development
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 800
Indicative Price : (to be confirmed)
Developer : Penang Housing Board (LPNPP)

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.

State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo emphasised the importance of delivering affordable housing schemes to the community when he announced a new housing scheme in Lot 244, Mukim 9 Teluk Kumbar, Bayan Lepas on Saturday.

He said the state has managed to reach 130,087 of various types of housing units as of now, which is near to 60% of its 220,000 target units of affordable homes by 2030.

“We need to continue with the momentum to ramp up the affordable units for the sake of Penangites.

“We are now doing well in our effort to meet the targeted units as the state Housing Board is set to kick-start its own affordable housing projects this year.

“We hope that the positive results can be seen,” he told reporters in Bayan Lepas today.

The scheme, which will be developed on a 4.2-acre plot, will see 800 units of mixed development with the construction works expected to be carried out at the end of this year.

Meantime, Jagdeep expressed his hopes that the Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican could assist the state in building the People’s Housing Project (PPR).

Jagdeep reiterated that the state had identified five plots of land, measuring 72.3 acres for PPR development in each of the five districts in Penang.

“We are now awaiting directive from the Federal Government as we have done our part in identifying the land.

“The Federal Government had already stated that two PPR projects will take place in Penang, one on the island and one on the mainland,” he said.

Source: Buletin Mutiara

Wishing you and your family a Prosperous and Happy New Year 2022! 

Looking back at 2021, the prolonged COVID-19 pandemic has definitely caused an overall subdued property market. However, Penangites have never stopped searching for their dream home in Penang.

Here are the 10 most popular projects. As usual, 9 out of 10 are affordable housing projects.

Ideal Residency

Ideal Residency, formerly known as PR1MA @ Bukit Gelugor, is an affordable housing development by Ideal Capital Venture Sdn. Bhd. (a subsidiary of Ideal Property Group) in Penang Island. This development is strategically located on Kampung Kastam land near the intersection of Jalan Bukit Gambier and Jalan Lembah. It's only less ...

Grace Harmony

Grace Harmony, the latest affordable housing by Nova Land Development Sdn. Bhd. at Jelutong, Penang. It is strategically located near Nova Place and Grace Residence by Nova Mulia Development, easily accessible via Tun Dr Lim Chong Eu Expressway. This development will see the demonstration of 34 existing houses and workshops for ...

Havana Beach Residences

Havana Beach Residences, the latest affordable housing development by Ideal Property Group at Bayan Lepas. Strategically located near Jalan Tun Dr. Awang, adjacent to Sunsuri Residences and the upcoming Maldives Residences. It is less than 2km away from Penang International Airport, about 5 minutes walking distance to  SMJK Heng Ee (Bayan Baru ...

118 Harmony

118 Harmony, an upcoming affordable housing by Eizo Enterprise Sdn. Bhd. (part of SHH Holdings) at Relau. Located on approximately 1 acre of land along Lebuh Relau 4, next to Relau Sports Complex. It is only about 2km from Setia SPICE Convention Centre. Neighboring communities include Relau Vista apartment, Taman Relau Mutiara, ...

Zen 9

Following the successful sales of The Zen affordable housing scheme and Zen 6, Asia Green Group will be launching yet another mixed development within the same vicinity at Bayan Mutiara soon. It is strategically along Tun Dr. Lim Chong Eu Expressway, near the exit of Penang Bridge's Bayan Lepas exit on the Island. It is ...

Fairview Residence

Fairview Residence, an affordable housing development at Sungai Ara, Penang. Strategically located next to Setia Pinnacle by SP Setia, about 10 minutes drive away from Setia SPICE. This is a joint venture development between BSG Property and VST Group. This development will features 34-storey condominium offering 750 units of affordable housing, ...

Sandilands Foreshore

Sandilands Foreshore, an affordable housing development by Tanjung Villa Development Sdn. Bhd. (subsidiary of Tah Wah Group). It is strategically located at along Lintang Macallum 2 in Georgetown, just a stone's throw away from Sandilands condominium by Heng Lee Group. This development will see the construction of a 48-storey building, featuring ...

Affordable Housing @ The Zen

The Zen, the latest mixed development by Asia Green at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang World City integrated development by Tropicana Ivory. This development comprises around 2,000 condominium units in two 46-storey residential towers, 1,200 units of which are categorized under affordable housing. There are also ...

TreeO

TreeO, affordable housing development by Hunza’s wholly-owned unit, Diamaward (M) Sdn Bhd, at Sungai Ara. It is located next to Taman Sungai Ara, about 1.5km away from SJK(C) Chong Cheng. This development comprises three 49-storey towers offering a total 1,240 affordable units: BLOCK A Tower A1 – 390 affordable units Tower A2 – 390 ...

The Dew

The Dew, yet another affordable housing development by PLB Land at Paya Terubong. Located along Tingkat Paya Terubong 4, between Taman Suria Vista and Majestic Heights. This is just a stone's throw away from The Stone affordable housing by the same company, about 3km away from Bandar Baru Air Itam ...

Vertice Bhd and Consortium Zenith Construction Sdn Bhd have mutually terminated the contract for the construction works for Package 2 of the Penang Mega Infrastructure project worth RM815.0 million undertaken by Buildmarque Construction Sdn Bhd.

Buildmarque Construction is a 50:50 JV company formed between Vertice Construction, a wholly-owned unit of Vertice Bhd, and Vizione Construction Sdn Bhd, a wholly-owned subsidiary of Vizione Holdings Bhd, for the construction of a by-pass from Bandar Baru Ayer Itam connecting to Lebuhraya Tun Dr Lim Chong Eu.

In a filing with Bursa Malaysia yesterday, Vertice said Buildmarque Construction, Vertice Construction and Consortium Zenith Construction has entered into a deed of rescission and termination to mutually agree to terminate the contract awarded on Aug 30, 2018, and the supplemental letter of award dated Jan 31, 2019.

According to the company, Buildmarque Construction was unable to procure project financing worth up to RM295.0 million to fund the total estimated project costs for the contract works, overheads (such as salaries, office expenses as well as legal and professional fees) and interest costs in order to pay the sub-contractors and suppliers in a timely manner.

It added that Buildmarque Construction did not require financing to commence with the early works as its shareholders, namely Vertice Construction and Vizione Construction, were able to finance the early works from their respective working capital and internally-generated funds.

Vertice said under the contract, the construction period was supposed to be 36 months from the commencement date or from the date of issuance of the notice to proceed, with the construction of major road 2 is expected to commence in September 2019 and be completed in August 2022.

“The construction of major road 2 did not commence in September 2019 as expected.

“Instead, Consortium Zenith and Buildmarque Construction mutually agreed to commence only the early works for the project in November 2019 which amounted to RM25.0 million,” it said.

As the contract is worth RM815.0 million, the company said the mutual termination would have a material impact on the future earnings of the group.

“As a result of the mutual termination, Buildmarque Construction will not be able to recognise further earnings, if any, from the contract works of Package 2 project.

“Correspondingly, Vertice will not be able to recognise its future share of earnings, if any in Buildmarque Construction,” it said.

Nevertheless, Vertice said in the absence of the project financing, Vertice/ Buildmarque Construction is unable to comply with the above-mentioned payment terms to continue to undertake contract works of Package 2 Project.

“Buildmarque Construction had requested for Consortium Zenith to vary the payment terms, for instance, for payments to be made to Buildmarque Construction after each progress claim.

“However, the request was denied by Consortium Zenith,” it said.

Vertice said premised on the above, in particular Buildmarque Construction’s inability to procure the project financing, the board is of the view that it is no longer feasible for Vertice/ Buildmarque Construction to continue to undertake the contract works of Package 2 project.

Source: Bernama