The new seawall project at Esplanade under the North Seafront Masterplan of George Town is making good progress together with an extended and much-improved public promenade between Dewan Sri Pinang and Fort Cornwallis.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo, who visited the construction site to conduct a spot check, said the seawall would expand the area’s limited public spaces and improve public amenities within the George Town Unesco World Heritage Site.

He added that the upgrading of the seawall, which stretches for about 570m from the Medan Renong food court to the Royal Malaysian Navy Base, is currently being managed by George Town Conservation Development Corporation (GTCDC) in collaboration with the state government, Penang Island City Council (MBPP), Think City and the Aga Khan Trust for Culture.

“The reinforcement of the Esplanade seawall is an important initiative aimed at upgrading George Town’s northern waterfront, and it is now almost 50% completed.

“It is part of the North Seafront Masterplan which covers some 14 projects at a total cost of RM140 million.

“Apart from that, the new-look seawall will also help protect the popular promenade, that often attracts a large pool of visitors from raging waves,” Jagdeep said during the site inspection at Esplanade with his entourage today.

He also added that the total construction cost is RM12.2 million, which was funded by the Penang government and MBPP while Think City contributed RM1.5 million for the detailed conservation study of the site and consultations.

“The construction works, which commenced in 2019, are now progressing rapidly. They are expected to be completed by the end of 2021. Works on the promenade walkway and its landscape are also in progress,” Jagdeep added.

Source: Buletin Mutiara

A proposed landed residential development within the established township of Bukit Mertajam by Avongold City Sdn. Bhd. Located next to the KTM railway tracks, accessible via Jalan Aston Indah. It is approximately 5 minutes walking distance from Jit Sit Independent High School, just a mere minutes drive to abundance of amenities such as markets, banks and popular eateries.

This development will see the construction of 36 double-storey terrace houses on the 3.29 acres land.

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

Property Project : (to be confirmed)
Location : Bukit Mertajam
Property Type : Terrace
Total Units: 36
Built-up Area: (to be confirmed)
Indicative Price:(to be confirmed)
Developer : Avongold City 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.

Bank Negara Malaysia is expected to announce a 25 basis points cut to the Overnight Policy Rate (OPR), taking it to 1.50 per cent in the next Monetary Policy Committee Meeting on Match 4.

HSBC Global Research Asean chief economist Joseph Incalcaterra said the government may continue to reallocate expenditure towards short-term measures, but a large package of fresh spending is unlikely.

More assistance will be needed in the short term to offset the impact of the latest lockdown and this suggests the burden will fall on monetary policy.

“We have continued to stress that Bank Negara has substantial policy space that should be used to confront clear hit to economic activity and fresh disinflationary pressures,” he said in a note today.

The 5.6 per cent contraction in Malaysia’s gross domestic product (GDP) in 2020 should not be too much of a surprise as the latest wave of Covid-19 infections has proven to be incredibly tenacious, impacting consumer mobility and spending at the end of the year, Incalcaterra said.

He said unfortunately, conditions are likely to deteriorate further in the first quarter (Q1) of 2021 given the imposition of a fresh one-month lockdown, the Movement Control Order (MCO), putting the government and Bank Negara’s 2021 6.5-7.5 per cent forecast range at risk.

About Straits City

A proposed 40-acres waterfront masterplanned development by STC Property Management Services Sdn. Bhd. in Butterworth. Strategically located along Jalan Bagan Luar, adjacent to Taman Selat. It is only a mere minutes drive to Penang Sentral, under 15 minutes to Penang Bridge.

Find out more about Straits City

The movement control order will be extended in Kuala Lumpur, Selangor, Johor, and Penang from Feb 19 until March 4, says Datuk Ismail Sabri Yaakob.

The 10km radius travel limit within the same district has been lifted for all states, regardless of whether the states are under the movement control order (MCO), the conditional MCO, or the recovery MCO.

However, inter-district and interstate travel restrictions are still in place, said Ismail Sabri at a press conference on Tuesday (Feb 16).