Bayview, a proposed mixed development by Malim Jaya Sdn. Bhd. in Batu Ferringhi, Penang. Strategically located next to Miami Green condominium, just a couple minutes walk away from Miami Beach.

The proposed development comprises 3 blocks of high-rises, offering a mix of serviced residences, affordable housing and several units of shop lots:

• 2 blocks of 34-storey serviced residence (336 units) with shop lots
• 1 block of 20-storey affordable housing
  • 850 sq.ft. (152 units)
  • 750 sq.ft. (30 units)
  • 650 sq.ft. (15 units)

This project is still pending for approval. Details to be available upon project launch.

Project Name : Bayview (to be confirmed)
Location : Batu Ferringhi, Penang
Property Type : Serviced residence & affordable housing
Total Units: 336 (serviced residence), 197 (affordable)
Built-up Area: 650 sq.ft. onward
Indicative Price: RM150,000 (750 sq.ft.)
Developer : Malim Jaya Sdn. Bhd. (Lion Group)

Location Map:

Construction of the proposed Komtar-Bayan Lepas Light Rail Transit (LRT) project, part of Penang’s multi-billion ringgit Transport Master Plan (PTMP), is expected to begin next year.

Chief Minister Chow Kon Yeow said the project is currently awaiting conditional approval by the Transport Ministry, which would likely be obtained soon.

He said a team from the Land Public Transport Agency (APAD) visited Penang about two weeks ago to view the proposed rail line alignment and suitability of locations for train stations.

“Based on their suggestions and comments, our team (state government) will make the amendments and improvements for APAD to advice the Transport Minister.

“With that, we will (then) be able to fine tune the alignment, location of stations and financing packages,” he told Bernama during his recent visit to the national news agency’s headquarters here.

A state-initiated project, the PTMP is expected to cost an estimated RM46 billion.

It features an undersea tunnel linking the island to the mainland, highways, LRT and monorail, and an extensive bus connectivity on both the island and mainland.

SRS Consortium is a joint venture between Gamuda Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

, Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd as the project delivery partner for the PTMP and the South Reclamation Scheme.

The proposed projects in the first phase of the PTMP include the Pan Island Link 1 (PIL1) highway, the Bayan Lepas light rail transit system, and works involving several major roads.

The state government obtained a conditional approval (PIL1) from the Department of Environment (DOE) on April 10 after it reviewed the Environmental Impact Assessment (EIA) on the project.

Meanwhile, the rail line for the LRT project will cover 29.5 kilometres and 27 stations, running from Komtar to the Penang International Airport and to the three future reclaimed islands in the south of Penang, estimated to cost RM8 billion.

Chow said the LRT project would take between six to eight years to be completed and a public display will be held for three months to gather feedback from the public on it.

“The project delivery partner will assist the state government in implementing the project, secure the approval, get funding and deliver it according to the time frame, quality and cost.

“There should not be any overrun in terms of cost, time and other things,” he added.

Source: Bernama

The Environmental Impact Assessment (EIA) report for the proposed Pan Island Link 1 (PIL1) in Penang has been approved by the Environment Department (DOE).

Chief Minister Chow Kon Yeow said the approval was conveyed to the state via a letter from DOE dated April 10, 2019.

“With this approval in place, the state considers it a major milestone towards enabling the project to move on the ground,” he said in a press conference in Komtar Monday (April 15).

Chow added that the next phase of work will be the detailed design phase and appointing the best work package contractors through open tender.

Earlier, The Star broke the news in an exclusive report that the construction on the RM9bil light rail transit (LRT) line and the RM9.6bil PIL1 were scheduled to start in June next year.

The Star learnt that the PIL has received approval from the DOE – the federal regulator overseeing the EIA reports – in March while the LRT is expected to receive a conditional approval from the Transport Ministry in May.

Both mega projects will be tendered to local and international companies at the end of the year.

Source: TheStar.com.my

Penang Chief Minister Chow Kon Yeow has expressed his confidence that the state’s property market will be promising in the near future as the present soft market situation is only a cyclical phenomenon.

“The promising future for the Penang’s property market is also supported by the state’s strong economic fundamentals and upcoming infrastructure projects for transportation such as the Penang Transport Master Plan, which continues to be a key agenda of the state government,” he said when officiating the launch of the state’s Home Ownership Campaign – Malaysia Property Expo 2019 (HOC-MAPEX 2019) in Seberang Perai Arena yesterday.

Chow urged the property developers in Penang who have approval for affordable housing project to be more prudent and aware of developments in the property market.

The three-day Penang HOC-MAPEX 2019 ending tomorrow showcases more than 3,000 units of properties worth over RM3 billion from 20 participating property developers.

The event is part of the national Home Ownership Campaign 2019 (HOC 2019) initiative by the Federal Government to address the nation’s property overhang issue and also to increase home ownership among Malaysians.

HOC 2019, a partnership between the Ministry of Finance, Ministry of Housing and Local Government and Real Estate & Housing Developers’ Association (Rehda) Malaysia, was officially launched by Prime Minister Tun Dr Mahathir Mohamad on March 1.

During HOC 2019, Malaysian home buyers can enjoy stamp duty waivers for the purchase of certain categories of residential units priced from RM300,001 up to RM2.5 million (before discount), as well as incentives including a minimum of 10 per cent discount for all properties, extra rebates, renovation packages and special packages by individual property developers.

Source: EdgeProp.my

Property Insight is proud to present the fifth edition of the annual Property Insight Prestigious Developer Award (PIPDA) 2019, which will be held at the Shangri-La Hotel on the evening of 3rd May 2019.

The award ceremony/gala dinner is supported by the Ministry of Housing & Local Government (KPKT), and the event will be officiated by YB Puan Zuraida Binti Kamaruddin, the Minister of Housing & Local Government.

PIPDA works as an independent bi-partisan body that qualifies award recipients through four main judging criterions – Track Record, Concept, Value Creation and Design. The key driving factor behind PIPDA is to recognise innovation and outstanding achievements committed by individuals, groups or even sector projects in the industry.

The judge’s lineup for this year’s PIPDA include

• Eric Lim, President of Malaysian Institute of Estate Agents (MIEA)
• Datuk Paul Khong, Managing Director of Savills Malaysia
• Ar Ezumi Harzani, President of Pertubuhan Arkitek Malaysia (PAM)
• Dr Dolf de Roos, New York Times and Wall Street Journal Bestselling Author
• Dr Suhardi Maulan, President of Institute of Landscape Architect of Malaysia (ILAM)

PIPDA is widely recognised within the property industry, and it is a tribute to the continually evolving property landscape here in Malaysia. “This year’s award will be bigger, better and grander than what we have previously accomplished. I pray that PIPDA 2019 is able to push the industry forward to greater heights,” commented Dato’ KK Chua, managing director and editor-in-chief of Property Insight.

About Property Insight
Property Insight is currently Malaysia’s number one top selling property magazine with nationwide coverage, garnering about approximately 230,000 followers on social media. Now with six years of consecutive publishing, Property Insight is the premier source for in-depth analysis on trends, highlighted issues within the property industry prevalent to homebuyers and investors.