The Seri Tanjung Pinang Phase 2A (STP2A) development and the reclamation of STP2B and STP2C will provide Eastern & Oriental Bhd (E&O) with future launches for the next 15 years and beyond.

E&0 said reclamation works on STP2A, a massive property development off Tanjung Tokong in Penang island, are almost completed.

STP2A is expected to have a gross development value of over RM17 billion and will be developed over 15 years.

E&O said a detailed master plan is being finalised to create Penang’s foremost investment, residential, commercial and tourist destination.

Managing director Kok Tuck Cheong said in a statement recently that the development of STP2A and reclamation of STP2B and STP2C are key to value enhancement of the group.

Kok said the reclamation of STP2B and STP2C will open the company to more joint venture (JV) opportunities like the JV master development of STP2A it has with Retirement Fund Inc (KWAP).

E&O’s 78.78 per cent-owned Tanjung Pinang Development Sdn Bhd (TPD) had in 2017 signed a sale and purchase agreement to sell 20 per cent of STP2A to KWAP as a strategic investor for RM766.02 million.

TPD was granted a concession by the Penang government to reclaim and develop about 307.56ha off the foreshore near Mukim 18 of Tanjong Tokong.

The reclamation work is divided into three phases, namely STP2A, STP2Band STP2C. STP2A and will comprise gross area of about 102.31ha.

Meanwhile, Kok said E&O’s property development segment has shown improvement for the period under review despite soft market conditions.

The company recorded cumulative sales of about RM251 million for the third quarter ended December 31 2018, which is 6.45 per cent higher year-on-year.

Kok said the E&O Luxury Living Campaign launched in July last year recorded successful sales figures for selected E&O landmark properties in Penang, Iskandar Malaysia and Kuala Lumpur City Centre.

On the hospitality front, E&O said its namesake, Eastern & Oriental Hotel (E&O Hotel) in Penang, will be undertaking extensive renovation and upgrading works.

The Heritage Wing will be closed from this month and re-open in December this year with new F&B concepts and fully-refurbished suites.

“These updates are designed to keep the E&O Hotel relevant to the evolving luxury travel market.

At the same time, careful consideration has been taken to ensure we retain E&O’s treasured style of timeless elegance that is unique to this cherished heritage landmark,” said Kok.

Source: NST Online

Up to 20,000 people thronged IKEA Batu Kawan on its first day of operations, yesterday.

Excited patrons from across northern Peninsular Malaysia made their way through the 470,146 square foot store and explored its 49 different showrooms.

During their visit, customers also tucked into IKEA’s iconic cafeteria fare – according to the Swedish home furnishing giant, 32,000 Swedish meatballs and 23,600 curry puffs were snapped up on Thursday.

“We can confirm that IKEA Batu Kawan surpassed its visitation goal of 20,000 customers on its first day of operations yesterday.

“It is a surreal feeling to finally welcome our beloved fans to our new home here in Batu Kawan. We have been gearing up for this very moment and the turnout was phenomenal.

“From today onwards, even more Malaysians will enjoy easier access to well-designed, functional, quality and low-priced Swedish home furnishings,” said Pathmalingam Arumugam, store manager of IKEA Batu Kawan.

With more than 8,000 home furnishing solutions, the unique IKEA shopping experience is now available to 6.6 million potential customers across the northern region. More notably, the Swedish company has created a more customised environment and experience for visitors to its fourth store in Malaysia.

“In addition to the consistent IKEA experience that Malaysians have known and loved, customers will enjoy customised offerings suited for the local market, including room sets that are fitted to the local living style; an original wall mural entitled ‘The Trishaw Captain’, hand-painted by Penang resident artist Thomas Powell; and favourite local delicacies served together with our well-known Swedish favourites,” added Pathmalingam.

Customers visiting the store throughout this opening weekend are in for a treat, as special deals and a wide variety of family-friendly activities await. In-store activities include face painting, balloon sculptures, clown performances, balloon giveaways and mascot appearances.

Visitors can also look forward to exclusive deals for IKEA members, food offers, a limited-edition Trishaw Captain canvas print, and a meet-and-greet session with Thomas Powell.

IKEA Batu Kawan is open every day from 10am to 10pm, while the IKEA Restaurant operates from 9.30am – 10pm daily.

Source: NST Online

Vivo Executive Apartment, the latest addition to Aspen Vision City township development at Batu Kawan. It is strategically located next to the upcoming Integrated Shopping Mall, walking distance to the Central Island Park.

The units will be built complete with communal co-sharing working space and a social kitchen to support the modern lifestyle of young working adults. Indicative price for a 730 sq.ft. unit starts from RM238,000 onwards.

Project Name: Vivo Executive Apartment
Location: Aspen Vision City, Batu Kawan, Penang
Property Type: Executive Apartment
Built-up Size: 730 sq.ft. onwards
Total Units: 1,530
Land Tenure: Freehold
Indicative Price: RM238,000 onwards
Developer: Aspen Vision City Sdn. Bhd. (Aspen Group)

Location Map:

SITE PROGRESS

SITE PROGRESS: Vivo Executive Apartment (Nov 2024)

SITE PROGRESS: Vivo Executive Apartment (Mar 2024)

SITE PROGRESS: Vivo Executive Apartment (Oct 2023)

SITE PROGRESS: Vivo Executive Apartment (July 2023)

SITE PROGRESS: Vivo Executive Apartment (Dec 2022)

SITE PROGRESS: Vivo Executive Apartment (May 2021)

A newly proposed affordable housing development by PTL Properties Sdn. Bhd. at Kepala Batas. Located along Jalan Desa Sena, adjacent to Taman Desa Sena.  It is less than 15 minutes drive from North-south Expressway Bertam interchange, about 10km away from Setia Fontaines township development by SP Setia.

This will be a gated affordable housing scheme, offering 338 units of 2-storey townhouses. It is still pending for approval, more details to be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Full list of affordable housing in Penang
• Eligibility and the requirement of buying affordable housing

Project Name : (to be confirmed)
Location : Kepala Batas
Property Type : Affordable housing (townhouse)
Tenure: (to be confirmed)
Total Units : 338
Indicative Price : RM250,000
Developer : PTL Properties Sdn. Bdh.

Location Map:

Artist Impression (Source: MalayMail.com)

Penang residents will get to enjoy a 2.62-acre worth of public green space in the middle of the city in six months.

“We don’t have a proper park in George Town and this space is perfect for a park, for people to rest, go for walks and enjoy the greenery,” BYG Architecture Sdn Bhd director Michael Ong told the news portal.

BYG Architecture is Sia Boey Urban Park’s lead project consultant. It will create the park and restore the 22 pre-independence shophouses on the site.

“Our concept is to make sure it is a recreational park for the community, with a playground for children, and it will make the city a liveable city,” he added.

Ong explained that the heritage buildings will be restored and “most of the large ficus trees that have grown among the buildings” will be maintained.

“We want to keep as many of the trees as possible to go with the whole park concept so we will strengthen the walls of the buildings when restoring them,” he said.

Meanwhile, the famous “archaeological findings” — a police barracks and a basin with canal lock — on the site will be included in the urban park.

Ong told Malay Mail that “the base structure for the police barracks, dating back to the Straits Settlement era, will be left open to the public”.
But parts of the basin with canal lock will be covered up.

Sia Boey is still closed to the public and will only be open after the area is restored.

So, if you are in Penang in about six months, do give Penang’s historic new urban park a visit!

Source: EdgeProp.my