Artist impression

Phase 2 of the billion ringgit Penang Sentral integrated mixed-development project in Butterworth is expected to go full swing next year.

The second phase entails the development of an office tower and retail mall, said MRCB Land Sdn Bhd chief executive officer Raymond Cheah.

Cheah said, the office tower and retail component would serve as a catalyst to the transport hub in Butterworth, which is the largest urban settlement in the city of Seberang Perai.

“We are accessing the market. We may start building the office tower first to build up the population before establishing the mall,” he said in an interview.

Cheah is bullish about the new developments for Penang Sentral as the project is located in an established neighbourhood comprising commercial, residential and industrial properties.

“There is a cargo hub and oil depot. Further north is the North Butterworth Container Terminal, with berthing and storage capacity, while further south is the Prai industrial zone comprising light and heavy industries. We believe there will be additional requirements for office space, retail, and apartments.”

The Penang Sentral project is undertaken by Penang Sentral Sdn Bhd and sits on a 9.2ha land.

The total gross development value of the project is estimated at RM2.9 billion. It is expected to be completed in the next 10 to 12 years.

There will also be a business hotel, small office home office units and serviced apartments in future phases.

The Penang Sentral is an integrated hub for bus, rail (KTM Bhd’s electric train service and Komuter train services) and sea transport and costs about RM230 million.

It has nine levels altogether, with level three being the main pick-up and drop-off point. Level one is for passengers of express and stage buses while level two is the transit floor for the purchase of bus tickets. Levels three to five are for retail and food courts while levels six to nine are for parking.

The transport hub, which opened in late 2018 is expected to handle around 4,000 passengers daily.

Cheah said the retail occupancy rate of the transport hub, which commenced operation in November 2018, stood at 82 per cent.

He expects it to be fully-tenanted within the year.

The anchor tenants include Penang Port Sdn Bhd.

Source: NST Online

The Cooperative Commission of Malaysia (SKM) is set to build a new town in Sungai Ara, Penang.

Executive chairman Datuk Nordin Salleh said the project would be developed by SKM’s subsidiary, Sungai Ara Bhd (Tunas Muda).

He said the new town, which will comprise residential units and various other amenities, is an initiative by SKM to help its members own affordable homes. It will be the country’s first ‘cooperative town’ and estimated to cost RM1.6 billion.

“To me, Tunas Muda’s plan to build its own town is something that is forward-looking and it is in line with our efforts to prioritise the well-being of the people,” he told reporters after visiting the ‘coop market’ at Masjid At-Taqwa here yesterday.

He said the project covering 83.3 hectares and involves 3,867 housing units, various facilities and infrastructures such as a mini stadium, football field, clinic and mosque is expected to be completed within three years.

Nordin encouraged cooperative members to venture into new business endeavors to establish themselves as cooperative entrepreneurs who could truly fulfill the society’s needs.

“SKM does not want them to become complacent, rather, we want them to expand their businesses and keep up with the times. We are in pursuit of (economic growth) in manufacturing, trade and so on,” he said.

Source: EdgeProp.my

Yet another mixed development proposed by Asia Green Construction Sdn. Bhd. at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, this could be the next to phase of The Zen development.

The proposed development comprises two 42 and 34-storey residential towers, featuring a total of 860 serviced residence units with 36 retail shop lots at level 1 and 2. There will be 7 levels of multi-storey carpark with facilities located at level 8.

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

Property Name: (to be confirmed)
Location : Bayan Mutiara, Penang
Property Type : Mixed development
Total Units : 860 (condo), 36 (shop lot)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : Asia Green Group

Location Map:

The Penang government expects the construction work on the light rail transit (LRT), Pan Island Link (PIL) and Penang South Islands (PSI) projects under the Penang Transport Master Plan (PTMP) to begin by the fourth quarter of this year.

Chief Minister Chow Kon Yeow said the state government and the project delivery partner, SRS Consortium, were now undertaking the vetting process for the projects.

“We, together with SRS Consortium, are hoping to sign the agreement for the projects (soon),” he told reporters after the ground-breaking ceremony for the new building of the Penang chapter of Federation of Malaysian Manufacturers (FMM) here today.

He said construction work was expected to begin either in the early second half or fourth quarter of this year.

He also said the reclaimed land of Gurney Coast will be ready by April.

Asked which of the three projects would begin first, Chow said the state government was finalising the matter and it would depend on financing.

“Whether it is one after another or all (LRT, PIL and PSR) concurrently, it will depend on the financing,” he said.

The proposed LRT will cover 27 stations and 29.9km, running from Komtar to the Penang International Airport, including to the three future reclaimed islands in the south of Penang under the PSR.

The state government is proposing to reclaim 1,821 hectares of the sea on three man-made islands across south of Penang International Airport towards the east around Permatang Damar Laut, to create a land bank to fund the PTMP.

The PIL1 project is a 19.5km-long toll-free highway alignment from Gurney Drive to Tun Dr Lim Chong Eu Expressway near the Bayan Lepas Free Industrial Zone IV area, consisting of a 7.6km length of viaduct sections, four tunnel sections totalling 10.1km in length and embankment sections of 1.8km.

The PTMP project, estimated to cost RM46 billion, encompasses an undersea tunnel connecting the island to the mainland, highway, LRT, monorail and a bus network on the island and Seberang Perai.

Source: Bernama

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