The Penang Hill Corporation (PHC) has launched its Penang Hill Upper Station Upgrading Project (Phase Four) to provide better comfort to its visitors on the hill.

The RM9.3 million project would comprise expanding the waiting halls and facilities at the Penang Hill upper station.

PHC general manager Datuk Cheok Lay Leng said that the current upper station is 800sq m and is able to accommodate up to 250 visitors at a time.

“The Phase Four upgrading project would increase the space to 1,422sq m (two floors), allowing it to accommodate up to 700 visitors at a time.

Chief Minister Chow Kon Yeow said the Phase Four project would also better position the hill for the future and improve visitors’ experience.

“The Penang government has allocated RM13 million (last year) and RM14.1 million this year for the upgrading of infrastructure and facilities on Penang Hill.

“PHC is committed in ensuring that Penang Hill remains as the preferred destination of choice in Malaysia,” he said in his speech before launching the groundbreaking ceremony today.

He said that PHC would work towards achieving the Green Building Index (GBI) Gold rating for this project.

“I am sure the Penang Island City Council (MBPP) mayor Datuk Yew Tung Seang welcomes the effort.

“The upper station was built and open in 1923. The station has ‘served’ the visitors for almost 100 years.

“We look forward to celebrating the 100th anniversary of the upper station when the Phase Four project is completed.

“The developments on Penang Hill are in line with the fundamental guidelines stipulated in the Penang Hill Special Area Plan (SAP) 2016 and Penang Hill Special Area Plan (Substitution) 2020 to maintain the aesthetic value and natural attractions of the hill,” he said.

The Penang Hill Corporation (PHC) has launched its Penang Hill Upper Station Upgrading Project (Phase Four) to provide better comfort to its visitors on the hill.

The RM9.3 million project would comprise expanding the waiting halls and facilities at the Penang Hill upper station.

PHC general manager Datuk Cheok Lay Leng said that the current upper station is 800sq m and is able to accommodate up to 250 visitors at a time.

“The Phase Four upgrading project would increase the space to 1,422sq m (two floors), allowing it to accommodate up to 700 visitors at a time.

Chief Minister Chow Kon Yeow said the Phase Four project would also better position the hill for the future and improve visitors’ experience.

“The Penang government has allocated RM13 million (last year) and RM14.1 million this year for the upgrading of infrastructure and facilities on Penang Hill.

“PHC is committed in ensuring that Penang Hill remains as the preferred destination of choice in Malaysia,” he said in his speech before launching the groundbreaking ceremony today.

He said that PHC would work towards achieving the Green Building Index (GBI) Gold rating for this project.

“I am sure the Penang Island City Council (MBPP) mayor Datuk Yew Tung Seang welcomes the effort.

“The upper station was built and open in 1923. The station has ‘served’ the visitors for almost 100 years.

“We look forward to celebrating the 100th anniversary of the upper station when the Phase Four project is completed.

“The developments on Penang Hill are in line with the fundamental guidelines stipulated in the Penang Hill Special Area Plan (SAP) 2016 and Penang Hill Special Area Plan (Substitution) 2020 to maintain the aesthetic value and natural attractions of the hill,” he said.

The system is said to provide a hassle-free queuing experience where visitors can wait in comfort. They are only required to get to the station once their batch number is called.

Visitors are able to retrieve their batch number through the ticket counter and queue status from the display panels or QR code displayed at major public facilities on the hill.

Also present were Air Putih assemblyman and former Chief Minister Lim Guan Eng, Penang Tourism and Creative Economy Commitee chairman Yeoh Soon Hin, Pulau Tikus assemblyman Chris Lee, Air Itam assemblyman Joseph Ng, Bukit Bendera MP Wong Hon Wai, and Penang Botanic Gardens curator Datuk Dr Saw Leng Guan.

Source: Buletin Mutiara

The Penang property sector is expected to see a modest recovery in 2021, with experts anticipating it to be a buyers’ market on the back of the ongoing vaccine rollout and various government incentives.

Knight Frank Penang executive director Mark Saw says recovery of the residential sub-sector will depend on the effectiveness of the Covid-19 vaccine, as well as economic performance.

“The government’s stimulus packages, low interest rate environment and Home Ownership Campaign (HOC) will offer opportunities for first-time homebuyers, especially those within the B40 and M40 categories, ” he tells StarBizWeek.

“Federal and state incentives aside, developer sales packages and promotions such as rebates, discounts, free gifts or attractive layouts and home concepts that follow the current trend of buyer preference will also play an important role in spurring sales.”

The HOC was kicked off in January 2019 to address the overhang problem in the country. The campaign, which was initially intended for six months, was extended for a full year.

The government reintroduced the HOC in June last year under the Short-Term Economic Recovery Plan (Penjana) to boost the property market after it was adversely affected by the Covid-19 pandemic.

Henry Butcher Malaysia in its Malaysia Property Outlook 2021 report is projecting a modest recovery pace for Penang this year.

“In Seberang Perai, residential property transactions are expected to improve in 2021, with prices holding at 2020 levels.”

Before the implementation of the second movement control order in January, Henry Butcher says there were possibilities of new launches occurring in the second half of 2021 or early 2022, if the market improved.

However, it says, any recovery would now likely be delayed.

“Either way, any new launches in the market in this era shall be executed on a smaller scale as a way to gauge the market’s appetite.

“Potential hotspots on the mainland remains pointed to Batu Kawan, given its appeal as a relatively new township but with the likes of Ikea, Penang Design Village, some multinational companies, a university and college as neighbours.”

CBRE|WTW in its Market Outlook Report 2021, meanwhile, says the Penang residential sub-sector is expected to remain resilient in the short term.

“However, significant growth is not expected yet as the issues of property overhang, lack of spending confidence by consumers and stringent lending policies by banks are expected to linger in the next one to two years.

“Delays in completion of residential projects are anticipated, as well as less launches as developers focus on clearing unsold stocks.”

Saw notes that 2020 was a tough year for the Malaysian property market in general due to the Covid-19 pandemic.

“The Penang residential sector showed a year-on-year decrease of 17% and 19% in volume and value respectively from January to September 2020.”

On his outlook for the first quarter of 2021, Saw says Penang residential transactions should show positive movements, spurred by ongoing initiatives such as the HOC.

“The residential segment should record the highest number of transactions compared with other property segments.

“Progress in housing developments that were disrupted or delayed could be launched in this quarter.”

Saw says the market is expected to see more affordable homes being launched during the quarter, in light of the subdued economic environment currently.

“Launches within the high-end segment are expected to remain low, especially due to the suspension of the MM2H programme and the travel ban between countries, which will make it difficult for foreigners to purchase property.”

In terms of property type, Saw says the bulk of transactions within Seberang Perai will comprise landed properties, while the majority of transactions on the Penang island will consist of high-rise units.

“Based on available data, residential transactions last year were averaging between RM300,000 and RM400,000, as buyers were mostly looking for affordable houses. We believe this trend will continue in the first quarter of 2021.”

Due to Penang’s strong manufacturing base, Henry Butcher says logistics has become a favourite among investors.

“It is the sole asset class with fundamentals improved during the pandemic, given online retail’s surging demand.”

Henry Butcher says demand will likely remain strong for the right assets, particularly with long-term appeal, given that loan financing is still available selectively.

“While the downside is not expected to be severe, investors are looking at relatively stable asset prices in 2021.”

CBRE|WTW notes that the residential overhang situation in Penang comprise mainly high-rise units, totalling 3,194 units worth about RM2.26bil as at the third quarter of 2020.

“It was mainly due to the plentiful supply over the past few years, especially in secondary locations such as Relau and Sungai Ara. Further price adjustment is expected, especially in locations with relatively lower demand and interest.

“Under this challenging market situation, lending policies by banks would be stringent and buyers will be more cautious. As such, the overhang in high-rise stratified residential units may be extended well into 2021.”

CBRE|WTW says Penangites still prefer landed residential units, notwithstanding the state’s limited land supply, especially on Penang island.

“There was only one landed residential project launched on Penang island in 2020, namely Geranium @ Botanica.CT in Balik Pulau.

“Other launches of landed housing projects such as Jesselton Hills, Pearl City and Scientex Tasek Gelugor are located in Seberang Perai.”

CBRE|WTW says the prices of landed residential units are likely to remain stable in the near future.

“The Penang residential market will continue its correction in the short term with fewer new launches, reduction in overhang as more unsold developer units are progressively absorbed by the market, as well as adjustment in asking prices of units for sale, reflecting the prevailing subdued market.”

Source: TheStar.com.my

Phase One of the RM176 million Gurney Wharf project is expected to be completed in the first half of 2022, Penang state exco Jagdeep Singh Deo said today.

The Penang housing, local government and town and country planning committee chairman said phase one of the public park will be ready in about a year’s time and open tender for the public park will be called by June this year.

“The project is expected to start by the third quarter of this year,” he said during a site visit at the reclaimed land this morning.

He said almost 50 acres of the 131 acres will be turned into a public park complete with public facilities and amenities for the disabled.

Jagdeep said phase one of the park project will include landscaping, a skate park, a promenade, a children’s playground and kiosks selling snacks and souvenirs.

He added that the park will be fully equipped with facilities for the disabled to ensure access to everyone.

“The promenade is already completed but it is not open to public yet,” he said.

He said water taxis facility from Gurney Wharf is also under the planning stage.

The Gurney Wharf project is a seafront public park located on part of the 131.09 acres of reclaimed land off Gurney Drive that was handed over to the state government progressively since last year.

Reclamation works along the Gurney Drive foreshore started in 2016 and reclamation of 131.09 acres (53ha) of land was completed in September 2019.

The reclamation works were conducted in accordance with a concession agreement signed between the Penang state government and Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of Eastern & Oriental Berhad.

Under the agreement, TPD was to reclaim the land at its own cost and handover 131.09 acres of reclaimed land along the Gurney foreshore to the state government by December 2022.

Source: MalayMail.com

About The Zen

A mixed development by Asia Green at Bayan Mutiara. It is located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from the ongoing Penang World City township development by Tropicana Ivory. This development comprises a 46-storey skyscraper with two residential towers, and shop offices located at lower level. The residential component will feature 1,200 affordable units and 730 bigger open market units.

Find out more about The Zen development

The latest freehold commercial & light industrial precinct by Mah Sing Group at Permatang Tinggi is set to be unveiled soon. The 17-acre development is strategically located along Jalan Permatang Tinggi, about 3km to the north-west of Simpang Ampat. It is sited in close proximity to a few established industrial parks, namely Bukit Minyak Industrial Park and Permatang Tinggi Industrial Park. A highly sought-after location with exceptional vehicle access and swift connectivity to major transportation routes.

Prominently positioned to give a strong visual presence from the main road, the first phase of this development will feature 22 units of semi-detached and detached light industrial lots with a minimum built-up size of 40ft x 78ft.

Semi-detached Light Industrial lot
Price: from RM 2.4 mil to RM 3.3 mil
Built-up: 40ft x 78ft

Detached Light Industrial lot
Price from RM 4 mil to RM 5 mil
Built-up: 65ft x 85ft

Location : Permatang Tinggi
Property Type : Commercial & light industrial
Total Units: 22
Built-up Area: 40’x 78′, 65′ x 85′
Indicative Price: RM2.4mil onwards
Developer : Mah Sing Group

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