Aspen Group, through its subsidiary Aspen Park Hills Sdn Bhd, has acquired 29.05 acres (11.62 hectares) of land in Paya Terubong from Geo Valley Sdn Bhd to be developed into mixed-residential development.

Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the seven pieces of freehold land would be developed in phases, comprising among others residential towers with communal facilities, serviced apartment towers and lifestyle retail facilities.

“The proposed development will benefit from existing amenities and infrastructure in a matured residential township, including the ongoing Jalan Bukit Kukus Paired Road Project which eventually will link the Air Itam township to the FTZ area of Bayan Lepas, Penang International Airport and two Penang bridges,” he said in a speech at Aspen Group Hari Raya Open House, graced by Penang Chief Minister Chow Kon Yeow, here today.

Nazir said the project also marked Aspen Group’s first joint-venture with Oxley Holdings Ltd, a Singapore-based property developer.

Source: Bernama

One Hundred Suites & Residences, a commercial development by Atta Global Group at Sungai Nibong. It is strategically located along Jalan Sultan Azlan Shah, diagonally opposite are SJK(C) Shih Chung, SRJK(C) Kwang Hwa and SMK Sungai Nibong. Just a mere minutes walk to future Sungai Nibong LRT station.

This development will features a 23-storey building with a mix of 62 units residential and 38 units office suites. There will also be common facilities at level 7.

More details to be available upon project launch.

Project Name : One Hundred Suites & Residences
Location : Sungai Nibong, Penang
Property Type : Mixed development
Total Units: 62 (residence), 38 (office suite)
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Tetap Gembira Development Sdn. Bhd. (Atta Global Group)

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By Charles Tan

I no longer stay in Penang but I support the Penang South Reclamation (PSR) scheme. The main reason is because it provides funding for Penang Transport Master Plan (PTMP) without which PTMP will not have the fund to proceed. Let’s understand that traffic jams in Penang is also getting worse and there are no alternative roads usually. Connectivity will also enhance business activities which is a good thing for the state and its people. As for the details for PSR and how it will affect the environment and the fishermen’s livelihood for example, that will have to be transparently handled. The latest news is that PSR’s current scale may be resized (downwards) if there are federal funding for its PTMP.

Article in thestar.com.my Chief Minister Chow Kon Yew said, “We can relook at the scale of the PSR project if we have the funding from the government. The size of the land to be reclaimed can be relooked, but the PSR scheme is still needed. We need PSR not only to finance the PTMP, but also to drive the state’s economic development in the future.” The PSR is a massive reclamation plan totalling 1,800ha. This is the size of 3,600 football fields. There will be three man-made islands for PSR; Island A (930ha), Island B (445ha) and Island C (323ha). Island A is seen as a conti­n­­­uation and expansion of the Bayan Lepas Free Industrial Zone (FIZ) while Island B will be “a playground for city planners and architects to give their best design” with a tram system and green spaces. Island C is meant for a mixed development project. Chow said that currently the Department of Environment (DoE) has only approved the Environmental Impact Assess­ment (EIA) of the Pan Island Link 1 connecting Gurney Drive to Tun Dr Lim Chong Eu Expressway near Bayan Lepas Free Trade Zone. For the full article, do refer to Article in thestar.com.my

FIZ is already fully occupied except for some small pockets of land here and there. Given a choice, any electronic manufacturing plant will prefer to be located as near to the island as possible. The reason is not just for logistics connectivity but also for hiring of professionals. Truth is, it’s not easy to hire good talents and get them to work far away from Penang island. island B will be a very interesting model. If it’s successfully carried out, I think it will be a great place to stay too. Perhaps there’s no need to drive! Last but not least, I would like to remind everyone about that important matter too; Penang International Airport. Even after expansion, it’s still considered small if we look at Penang as an entry point into Malaysia from the northern side. By the way, it’s closer to China, for example… Happy following.

Charles Tan – the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 15 years experience as well as from all the readings and conversations with property gurus in the industry. He is presently the CEO of an auction house auctioning assets beyond just properties. (Source)

Taman Desa Harmoni, a small residential development by Loyal Greenworld Sdn. Bhd. at Sungai Dua in Butterworth. Located off Lorong Sungai Dua Utama 21, just a stone’s throw away from SK Desa Murni. It is only less than 15 minutes drive to Penang Bridge via North South Expressway.

This development comprises 17 units of 2-storey terrace houses, with a built-up size of at least 1,800 sq.ft. Indicative price starts from RM550k onwards.

Project Name: Taman Desa Harmoni
Location: Sungai Dua, Butterworth
Property Type: 2-storey terrace
Total Units: 17
Built-up Size: 1,800 sq.ft. & 1,980 sq.ft.
Land Area: 1,690 sq.ft. – 3,165 sq.ft.
Indicative Price: RM550,000 onwards.
Developer: Loyal Greenworld Sdn. Bhd.

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There will be no increase in the price of cement, says Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

The minister said the decision was made following a meeting with industry players on Tuesday (June 18).

“I have been meeting with the stakeholders for the past few days. Following our discussions, all parties have agreed not to increase the price of cement,” said Saifuddin at a press conference at the ministry here.

Saifuddin added that the price of cement is controlled by the Government and the industry cannot raise the prices without approval.

Recently, several developers and cement product manufacturers have expressed concern that the price of cement could go up by 40% to 50% .

Saifuddin said a hike in the price of cement would be detrimental to the government’s plans to build one million affordable homes for the people.

“However, to be fair to the industry, we allow them to air their views and we listen to their reasoning on why they feel there should be a price increase,” said Saifuddin.

Source: TheStar.com.my