The Penang government today said that one of the three islands it plans to reclaim under a giant project in the south of the main island will now be handled by the private sector.

Chief minister Chow Kon Yeow said the state government had now decided to let the private sector fund the RM3.8 billion needed to reclaim the biggest of the three islands.

Under the earlier project delivery partner (PDP) model, the state was supposed to fund the entire project through a RM1.3 billion bridging loan. However, changes became necessary as that loan failed to get a guarantee from the federal government.

Chow said given the current economic situation due to Covid-19, the state had decided to allow the partner, SRS Consortium, to pay for the reclamation of the first island, “Island A”, on its own.

Island A is to be created in the waters right next the Penang airport runway, near Permatang Damar Laut.

To facilitate the creation of Island A, a 30:70 share joint venture company would be created between state government-linked company Penang Infrastructure Corp and SRS.

This joint venture company would then create another firm to be the project developer and turnkey contractor.

Chow said the reclamation of Island A would be done in phases. Under the first phase, only 486ha of the total 930ha would be reclaimed, with an inverted E-shaped island created.

Gamuda Engineering would be appointed to reclaim Island A under the first phase. The company would “slow down” or “increase” reclamation as demand for land reduces or increases over time.

“This does not mean that the Penang South Reclamation (PSR) project is now private. The reclaimed land would remain the property of the state government,” he said at a press conference here today.

Chow said the joint venture model would only apply to Island A, while the PDP model would be used for the other two islands and projects under the Penang Transport Master Plan, such as the light rail transit and highways.

He said preliminary survey and soil investigation works would be carried out on March 29 in the area concerned.

SRS’ Szeto Wai Loong said Island A would be 70% public transport-based and built with environmental, social and corporate governance so as to attract investors.

He said the island would see a smart industrial park created, where high-end tech industries are expected to take foot. Denmark-based Bjarke Ingels Group will be the lead masterplan designer for the island.

Szeto said they had obtained all required approvals from the Department of Environment, barring an environmental management plan, which he said was only required to be submitted before the actual reclamation took place.

The PSR, or three-island project, seeks to reclaim 1,821ha of land. The state plans to sell the land to the highest bidder to finance infrastructure projects worth RM46 billion, such as highways and a 30-station LRT line.

The project will be spread over 17 sq km, with islands covering 9.3, 4.45 and 3.23 sq km, to be reclaimed off the coast of Permatang Damar Laut.

Source: FreeMalaysiaToday.com

Proposed light industrial factory development by Uni-alliance Resources Sdn. Bhd. in Southern Seberang Perai. This is a small development located along Jalan Preindustrial Valdor, directly opposite Eonmetall Group Berhad’s factory. It is about 3km to Batu Kawan Industrial Park, less than 10 minutes drive to Penang Second Bridge.

This development comprises 14 units of 2-storey link factories with office floor.

This project is still pending approval. It is not known if this will be opened for sale.

Project Name : (to be confirmed)
Location : Sungai Bakap
Property Type : Light industrial factory
Total Units: 14
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Uni-alliance Resources Sdn. Bhd.

Location Map:

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.

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Joint management bodies (JMB) and management committees (MC) of strata schemes can enact a bylaw to prevent short-term accommodations under Section 70(2) of the Strata Management Act 2013 (SMA), Penang state local government committee chairman Jagdeep Singh Deo (pictured) reminded all stakeholders, The Star reported.

“We hope people are aware of this. We have had complaints from owners of residential buildings about homestays in their areas.

“We understand that some unit owners may want to earn additional income through short-term stays or homestay businesses but this is not acceptable. If unit owners want to rent their units out to short-term guests or turn them into homestay units, 75% of the residents there must first agree to it.

“An annual general meeting (AGM) must be chaired by the JMC or MC and three quarter of residents in that particular building must be agreeable to the idea. Otherwise unit owners are not allowed to turn their units into homestay units,” Jagdeep told the media after a spot check at a condominium along Karpal Singh Drive here yesterday.

Jagdeep added that JMBs or MCs can issue a compound to the owner if he or she insists on continuing the homestay even after residents do not allow it.

“Under the Strata Management Act, 2013, the JMB and MC can enact their own bylaw to compound the owner RM200 for each time the unit was rented out for a short-term stay.

“If the JMB and MC has issued compounds to the unit owner and the compounds are not paid or if there are further disputes, the issue can be referred to a tribunal,” Jagdeep said.

“If the majority are not agreeable to the idea, unit owners must not continue with the short-term stay business.

“But if the majority is agreeable, go ahead. At the end of the day, we just do not want any social issues.

“This is because short-term stay businesses may endanger the local community, as they would not know who entered the premises.”

Jagdeep also revealed that landed properties such as terraced homes and bungalows also faced “similar problems and we will look into them soon”.

“We are studying other property types as well but we are sure landed home owners would not allow homestays as well.”

Source: EdgeProp.my

Ferringhi Residence 2 is a freehold prestigious residential development by Mah Sing Group. Located just a few minutes away from the famous tourist belt of Batu Ferringhi beach, it comprises low-rise condo villas and high-end condos with built-up area ranging from 1,208 to 1,565 sq ft.

There are 3 choices of floor plan layout to choose from and each unit is designed to have good natural ventilation and lighting with most living spaces having 16ft wide opening towards outdoor. The living, dining and kitchen have an open-plan layout to enhance spaciousness with a resort feel. It also features the largest resort-style facilities deck in Penang, fostering a harmonious, communal and family spirit amongst closely-knit residents.

Ferringhi Residence 2 Tower B is now completed with VP and ready to move-in.  Register your interest now to find out how you can own the best resort home in the heart of Batu Ferringhi with up to 12 months of subsidy!

About Urban Suites

A commercial property development by Aspen Vintage Sdn. Bhd. (Cosmopolitan Homes) in the established township of Jelutong.  It is easily accessible via Tun Dr Lim Chong Eu Expressway and surrounded by abundance of amenities. Urban Suites comprises two 42- storey towers, featuring 596 units of commercial suites.

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