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Penang Hill cable car project set to start year-end

Property News/ 8 January 2020 1 comment

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After the recent breakdown of the funicular train to Penang Hill, the state government resolved to implement an alternative way to ascend the hill, which is through a modern cable car that connects the summit with the Penang Botanic Gardens.

This link will be among several infrastructure projects expected to take off this year besides the Light Rail Transit and the Penang South Reclamation – both of them integral parts of the RM46bil Penang Transport Master Plan.

If things go as planned, construction work on the cable car could begin by the end of this year, said Chief Minister Chow Kon Yeow, adding that pre-feasibility studies of the project are ongoing while a full technical study will be carried out as the next step.

He emphasised that the need for an alternative to the funicular hill railway became very obvious right after the King and Queen used it on Dec 21 on their maiden official visit to Penang.

“It broke down after their visit. We were very lucky it didn’t happen when their Majesties were on the train.

“At that juncture, the need for an alternative transport is very important. Of course, there is the road to cater to four-wheel-drives, ” he noted.

Any decision regarding the development of the Penang Hill cable car project will be made once the pre-feasibility study is completed.

Chief Minister Chow Kon Yeow said currently the pre-feasibility study of the cable project is still ongoing.

“The study has to be completed first and only after that, we will have a better idea whether the project is feasible or not,” Chow told a press conference in Komtar today.

Under Budget 2020, the Federal Government announced RM100mil for the development of the Penang Hill cable car system.

In dialogue sessions with stakeholders, Chow had earlier said he expected eight to 10 pylons would be needed to support the network, which links the summit to a “station outside the gates of the Botanic Gardens, near Penang Rifle Club”.

At the hilltop, the plan is to have the station near the entrance to the Habitat, a nature park with elevated walkways through the forest canopy.

Chow believes the project will generate growth for the tourism sector and create job opportunities for the people.

On the concern that the hilltop would be overcrowded, Chow said that under the Special Area Plan for Penang Hill, it could comfortably hold about 4,500 people at any one time.

“Rightly, the funicular train itself is a mechanism to control the number of visitors at the hilltop. You can only allow 100 people up the hill every five minutes.

“If I don’t like so many people up there, I can always slow down the train and lengthen the waiting time. It is possible to control the holding capacity of the hill, ” said Chow.

The chief minister also suggested that enhancing the walk up the hill has a role to play in managing overcrowding at the funicular railway stations, especially the upper station.

“If we continue to make our walking track more attractive, I think people need not have to congregate just at the upper station alone.

“They can actually enjoy Penang Hill by talking a walk of a few kilometres up the hill while appreciating nature along the way.

“The crowd will be spread out at other attractions throughout the hill and this will lessen the impact on the upper station, ” he said.

Chow added that the hill has also evolved over the years, particularly at the lower station.

“There is a world of difference compared to 20 years ago. Now, it can hold 1,000 people compared with just about 200 many years ago.

“With the cable car as an alternative mode, we can cater to a bigger crowd, ” he said.

Source: TheStar.com.my

 

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Sunway Property sets RM2b sales target for 2020

Property News/ 8 January 2020 No comments
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Artist impression of Sunway Valley City at Paya Terubong

Sunway Bhd’s property division, Sunway Property has set a sales target of RM2 billion in 2020. It has recorded RM1.55 billion in sales in 2019 surpassing the year’s target of RM1.3 billion. Unbilled sales stood at RM2.8 billion to date.

Speaking at a media briefing yesterday, Sunway Bhd property division managing director Sarena Cheah said Sunway Property will be launching properties worth almost RM3.5 billion in gross development value (GDV) this year. Of that amount, 70% (RM2.4 billion) will be properties in Singapore while RM1 billion will be projects in Malaysia.

“We target a sales number of RM2 billion or more depending on how the market is doing. We are a bit more conservative for the Malaysian side, depending on how it goes,” said Cheah.

“Both local and international properties are expected to contribute about 50:50 to the sales target for the year. But there is a potential for the international segment (especially Singapore) to contribute slightly more given the stronger currency,” she added.

In Singapore, Sunway Property will be launching three residential properties worth RM2.4 billion – Parc Canberra, Ki Residence and Park Avenue Residences. It will also be making headways into China, UK and Australia as well.

In terms of land banking activities, Cheah said Sunway Property aims to be “more aggressive” in acquisitions this year both in Malaysia and overseas after acquiring about 33 acres of land last year worth slightly over RM4 billion.

Here’s what’s in store for the year:

“A majority of launches in Malaysia this year would be priced from RM600,000 – RM800,000. We believe (the pricing) would be a sweet spot for the majority of the population as we have seen encouraging take-ups from our recent launches of around the price range,” explained Cheah.

Meanwhile in Penang, the developer will launch its first commercial offering in the state, the 25-acre Sunway Valley City. The development has a GDV of RM2.4 billion and will be located in Paya Terubong, Ayer Itam. Currently, Sunway Medical Centre Seberang Jaya is being built.

For the Klang Valley, several launches are planned for 2020 – worth some RM691 million. These include Sunway Avila Retail (retail shops), serviced apartments at Sunway Velocity TWO Tower C and Sunway Belfield Tower A.

Besides that, RM573 million in investment properties consisting of an office tower and the expansion of a student accommodation are currently under construction at Sunway City Kuala Lumpur.

Down south in Johor, the developer will be launching Sunway Maple townhouses (GDV: RM100 million) while the 288-room hotel Sunway Big Box Hotel is set to be completed this year.

Source: EdgeProp.my

 

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GEM Soho breaks ground today, to be completed by 2022

Today, the Chief Minister of Penang YAB Chow Kon Yeow officiated the groundbreaking ceremony of GEM Soho, a freehold development of 978 units and 15 commercial shops along Jalan Baru connecting North-South Highway and Butterworth Outer Ring Road (BORR) and the future public infrastructure LRT and Monorail under the Penang Transportation Master Plan (PTMP). The groundbreaking ceremony was held at GEM Sales Gallery located on Jalan Seberang Perai.

GEM Soho – Redefining Urban Condo Living In Seberang Perai

GEM Soho is a joint development between Belleview Group and LTC Group under Regata Maju Sdn Bhd (“RMSB”) for the development of a parcel of prime land located at Jalan Baru measuring approximately 5.34 acres. This development project is the first Transit Oriented Development (TOD) in Seberang Perai for RMSB.

Poised to be the new ‘Heart’ of Seberang Perai, GEM Soho is a freehold development bearing a total gross development value (GDV) of RM600million, and will introduce a new standard of living in Seberang Perai featuring 978 units of well-designed modern living spaces housed within four residential blocks of 38-storey each – Coral, Ruby, Sapphire and Diamond. Featuring eight layout designs of one to four bedrooms, sized from 441 sq ft to 1,445 sq ft. Every elegant residence is artfully curated to pamper the senses and come with striking seaview of the Penang Bridge, Penang island and the cityscape of Butterworth and Bukit Mertajam.

Register your interest here for GEM Soho

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

The ‘GEM’ of Northern Region Malaysia

GEM Soho is optimally positioned in the heart of Seberang Prai, along the six-lane Jalan Baru connecting the North-South Expressway and Butterworth Outer Ring Road (BORR). The prime location is remarkably accessible with a short 7 minutes drive to the Penang Bridge and 30 minutes to the Penang International Airport. It is bordered by a host of amenities to provide residents with complete convenience, especially being neighbours with GEM Mall, the largest shopping mall in the Northern Region Malaysia.

With a comprehensive pipeline of public infrastructure announced under the Penang Transport Master Plan (PTMP), linking both Penang island and Seberang Perai via LRT and Monorail for better convenience and connectivity, GEM Soho will be the first Transit Oriented Development (TOD) in Seberang Perai. Transit Oriented Development is an exciting fast growing trend in creating vibrant, livable, sustainable communities. Also known as TOD, it’s the creation of compact, walkable, pedestrian-oriented, mixed-use communities centered around high quality train systems.

With a targeted completion in year 2022, GEM Soho stands as the new star address for the local and foreigner investors. Managing Director of Belleview Group Dato Sonny Ho said there are demands for homes and investment in Seberang Perai.

gem-launching4Managing Director of Belleview Group Dato Sonny Ho emphasise that “GEM development will transform Seberang Perai with modern living standards, mega shopping experiences and impressive 4-star hotel facilities”. “We are very pleased with the joint effort of Belleview Group and LTC Group to bring GEM Soho to life. We are optimistic that GEM will be well received by locals and foreigners with its unique features that is centred around conveniences, strong selling attributes, attractive pricing and announced public transportation plans for Seberang Perai. In addition, with an average selling price of RM500 per square foot onwards and RM500k threshold for foreigners to purchase urban high-rise properties in Seberang Perai only, I am confident that this will attract local and foreigner interest adding a huge boost to the economic development of Seberang Perai city,” he said.

He added that the collaboration with LTC Group would further heighten the quality of property development and living standards in Seberang Perai, transforming the city into a more livable city.

 

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360 Aerial View: Batu Kawan (Jan 2020)

Property News/ 5 January 2020 No comments

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Auspicious Year 2020 Feng Shui Talk @ Brydon Open House

Events & Promotions, Property News/ 4 January 2020 Comments off

In conjunction with Brydon Open House, EcoWorld is having their early celebration of Chinese New Year on 11 January 2020 at Eco Horizon. Grab your FREE seat today!

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Grab your FREE seat today!

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