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20% of PSR land set for affordable homes

Property News/ 10 August 2019 No comments

Penang South Reclamation

The Penang government has agreed to reserve 20% of land from the proposed Penang South Reclamation (PSR) project for affordable homes, says state Local Government, Housing, Town and Country Planning chairman Jagdeep Singh Deo.

He said he had insisted for that reservation in order to have an adequate supply of affordable homes as the Penang population increases every year.

“The state will continue to build low-cost, low-medium cost and affordable homes even though the target of having 76,000 such units by 2025 under the election manifesto has already been surpassed,” Jagdeep told reporters after visiting the almost completed Iconic Vue in Batu Ferringhi today.

He was responding to a question from a reporter that there were claims of oversupply of these units since the housing target has already been reached.

Jagdeep said the priority of the state government was to ensure adequate supply of these units so that Penangites have a roof over their heads.

“Since 2008, 29,959 units had been built, 23,567 are being built and 48,809 have been approved to be built, bringing the total to 102,335 units.

“These units are, however, being built in stages, not overnight. There are new applicants for these housing units every day. So, there is a need to ensure adequate stock.

“For the PSR, it may take between 10 and 15 years by the time the first island is reclaimed. By 15 years time and beyond, the population in Penang would have increased. There will be a need for even more housing.

“And it would reduce our burden to look for place especially on the island where we have the scarcity of land.

“That is the plan. We’ve a plan. I insisted that 20% of land reclaimed under PSR be allocated and reserved for affordable housing. I may even ask for it to be increased. But at this point in time, that has been agreed (by the state government). The reclaimed land will be for industrial, commercial and residential purposes and even affordable housing.”

Source: Buletin Mutiara

 

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Aspen Group to finish part of Bukit Kukus paired road project

Property News/ 9 August 2019 No comments

bukit-kukus-aspenThe state government has found a new developer to complete one portion of the Jalan Bukit Kukus paired road project that hit a snag due to financial constraints faced by the previous private developer.

Penang work, utilities and flood mitigation committee chairman Zairil Khir Johari said the previous developer Geo Valley Sdn Bhd had entered into an agreement with Aspen Group for the latter to take over work on the 0.8km stretch.

The 0.8km portion, costing RM120mil, is expected to be completed in 2022.

“The other stretch, which is being built by PLB Land Sdn Bhd and costing RM150mil, has also hit a snag but works are still ongoing.

“We will be getting updates on the progress from PLB,” said Zairil during a site visit to the Lebuh Bukit Jambul stretch.

Zairil said the section spanning 2.8km is financed by the Penang Island City Council (MBPP) and cost RM275mil.

It is 78% completed.

“Based on the time frame, the section should be 86% completed now.

“However, it was delayed by a stop-work order lasting 100 days due to a landslide which killed nine foreign workers and injured four others.

“Despite that, the MBPP stretch should be ready in June 2020.

This portion will include a new elevated road to Jalan Tun Sardon, a roundabout and a new paired road to Lebuh Bukit Jambul.

“We expect it to open to traffic by August next year,” he said.

State housing, town, country planning and local government committee chairman Jagdeep Singh Deo, who was also present, said the cost for MBPP’s portion actually totalled RM370.1mil.

“The construction cost was RM275.6mil while the land acquisition came to RM83.5mil and consultant services cost RM11mil,” he said.

“The project commenced in January 2016 and as of last year, the MBPP has spent RM275.8mil for the construction and land acquisition costs.

“This year, MBPP allocated RM44.2mil and next year, there will be RM37.355mil for the project,” he said.

Jagdeep said the project had been taking up 40% of the city council’s allocations for projects each year since 2016.

The project consists of three sections with MBPP constructing 2.8km of the stretch while the two developers are responsible for the remaining 1.4km (RM150mil) and 0.8km (RM120mil).

The works include the junction improvement of Lebuhraya Thean Teik, widening of the existing Jalan Bukit Kukus, construction of new roads and an elevated link connecting Jalan Bukit Kukus to Lebuh Bukit Jambul.

There will also be construction of the elevated road from Jalan Paya Terubong to Jalan Tun Sardon and an intersection of new paired road to Lebuh Bukit Jambul with a dedicated right-turn ramp.

Source: TheStar.com.my

 

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SITE PROGRESS: Queens Residences (Aug 2019)

Property News/ 9 August 2019 No comments

site-progress-queens-residences-6

 

About Queens Residences

Luxury waterfront development by Ideal Property Group at Bayan Bay with gross development value (GDV) of RM600mil. This development is located in front of BayStar Condominium, just stone’s throw away from Queensbay Mall.

Find out more about Queens Residences

 

Afternoon Tea at Southbay Sales Gallery

Drop by Southbay Sales Gallery with your friends for an Afternoon Tea tomorrow to find out how you can be rewarded with MahSing’s Refer & Reward program.

afternoon-tea-mahsing

10 August 2019 (Saturday), 2:00pm – 6:00pm
Southbay Sales Gallery

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Master plan contest for Penang South Reclamation project

Property News/ 9 August 2019 1 comment

LRT-MAP11

SRS Consortium, the project delivery partner for the Penang Transport Master Plan (PTMP), is organising a master plan competition for the development of three man-made islands under the Penang South Reclamation (PSR) project.

SRS Consortium project director Szeto Wai Loong today said the company would finalise the matter with the Penang state government and federal Department of Town and Country Planning (PLAN Malaysia) before announcing the details to the public by the end of this month.

“Now, we have the necessary approval. We and the state government want to have (something) like the Bandar Malaysia last time, (on) how to do the master plan.

“We will have this master plan competition where international planners also can participate, even locals can team up with international planners,” he told reporters at a conference on ‘Moving Penang Into The Future’ here today.

Earlier, Szeto delivered a briefing entitled ‘Introduction to PTMP’ to about 100 participants at the conference.

Szeto said the six best designs or master plans will be selected and presented to the public and state government.

“We will have a symposium so that the public can come and give their opinions, before finally the state will choose which is the best master plan. We want to have a balanced development, so that it will be well accepted,” he said.

When asked on the call by the Penang Fishermen’s Association for the PSR project to be cancelled, he said the state government is actively engaging the fishermen.

He said there were so many areas to look into in their objections and the state had set up a task force to deal with the affected fishermen.

Under the PSR project, the state government is proposing to reclaim about 1,821 ha of the sea to build three islands south of Penang International Airport towards the east around Permatang Damar Laut to create a land bank to fund the PTMP. The Penang government received approval for the PSR project EIA report from the Department of Environment on July 4.

The RM46 billion PTMP project entails the construction of an undersea tunnel connecting the island to the mainland, highways, LRT, monorail and a bus network on the island and Seberang Perai.

Source: Bernama

 

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