Approximate location

A proposed commercial development by MFMA Development Sdn. Bhd. at Bayan Lepas. Located near Penang International Airport, next to the existing outdoor car parking area.  MFMA Development Sdn. Bhd. is a joint-venture company between Mitsui Fudosan and Malaysia Airports with shareholdings of 70% and 30% respectively. The company owns Mitsui Outlet Park at KLIA.

This development will see the demolition of the existing hostel and office buildings, for the construction of a 3-storey shopping complex.

The project has commenced detailed development planning works in 2020.

Project Name : Mitsui Outlet Park
Location : Penang International Airport, Bayan Lepas
Property Type : Shopping complex
Developer : MFMA Development Sdn. Bhd.
Last Updated: June 2021
Location Map:

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The expected drop of up to 10% in Penang’s housing prices will not include low-cost and low medium-cost houses that are being built at a loss.

State Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said the prices for low-cost and low medium-cost units would remain at RM42,000 and RM72,500 respectively even though the Sales and Service Tax (SST) had been exempted for major construction materials.

“The current construction cost for a low cost unit is RM120,000 but is sold at RM42,000,” he told reporters after a site visit to the Chelliah Park City affordable housing project here.

“Low-cost and low medium-cost housing units are of a different category. We are already losing so much, so we will maintain their selling price.”

Jagdeep Singh said the state government would, however, consider reducing the pricing on its affordable housing projects following a move by Real Estate and Housing Developers’ Association Penang (Rehda) to bring down the overall housing prices by 10% for those costing above RM300,000 and 6% for affordable housing.

“I will raise the matter at the next state exco meeting for discussion,” he said.

“When it was announced that the Goods and Services Tax (GST) would be replaced with the SST, I did mention that housing prices would go down.

“As SST is not charged for construction material like cement, construction cost is reduced and it would be right for the housing prices to go down as well.

“We welcome the announcement made by Rehda,” he said.

It was reported yesterday that Rehda Penang chairman Datuk Toh Chin Leong said the association would advise its members to lower housing prices in the state.

“If they can reduce by 10% immediately it would be great. If not, it would apply to all new developments.

“For affordable housing, which is partly subsidised by developers, we will look at reducing the price by 6%. The reduction will apply for all new projects after the implementation of SST,” he said.

Meanwhile, Jagdeep Singh annou­nced that the Chelliah Park City project had been given the Green Building Index (GBI) Gold Rating, making it the first affordable housing project to receive the certification.

“It has complied with several green initiative requirements.

“They include a passive design approach for solar orientation, sun blocking and shading to reduce heat gain, use of energy efficient lighting to reduce electricity use and water saving fittings, among other features.

“This project can be an ideal benchmark for others,” Jagdeep Singh said.

“I will ask the Penang Develop­ment Corporation to see how this can be replicated in other projects in the state.”

Source: TheStar.com.my

Housing prices in Penang are set to drop by at least 10% with the implementation of the Sales and Service Tax (SST).

Real Estate and Housing Develo­pers’ Association Penang (Rehda) hopes to bring down the overall housing prices by 10% for those costing above RM300,000 and 6% for affordable housing.

Rehda Penang chairman Datuk Toh Chin Leong said the association here would advise its members to lower the prices.

“We will talk to our members and if they can reduce by 10% immediately it would be great, if not it would apply to all new developments.

“The reduction will apply for all new projects after the implementation of SST this month,” he said during a press conference held by Finance Minister Lim Guan Eng at SPICE Convention Centre in Bayan Lepas.

Toh said replacing the Goods and Services Tax (GST) with SST had reduced costs and Rehda Penang would like its members to pass on any savings to the buyers “as we should not take advantage of it”.

Lim said it was a commendable move, which he hoped would be followed throughout the country.

“It is starting in Penang and is a positive move to reduce housing prices by 10% and 6% respectively.

“It is a good start by a responsible corporate body,” he said.

Source: TheStar.com.my

The Federation of Malaysian Manufacturers (FMM) Penang has supported the implementation of the Pan-Island Link 1 (PIL 1) Highway and Penang South Reclamation (PSR) based on the Penang Transport Master Plan (PTMP).

The PIL 1 Highway is a 19.5km, dual three-lane highway running from Gurney Drive to Penang International Airport (PIA) whereas the PSR project is to build three man-made islands located in the South of Penang island.

In a statement yesterday, FMM noted that any delay in the execution of PTMP and PSR by the state government can cause prolonged productivity loss from worsening traffic congestion, and opportunity loss from constrained growth as Bayan Lepas Free Industrial Zone (FIZ) has no available land for future expansion.

“With this, FMM Penang is strongly urging the authorities to place more investments in the State’s public transport and traffic dispersal system especially in the high-density Bayan Lepas that needs urgent upgrading, and expand the Bayan Lepas FIZ for new investment opportunities,” they stated.

Meanwhile, the statement was also made in response to the online news article dated Sept 9, where an activist alleged the proposed highway may drive out high-value factories, especially precision goods manufacturing factories, at the Bayan Lepas FIZ due to “excessive vibration” from the construction.

It is also stated that FMM had not received any operational issues from their member companies in Bayan Lepas FIZ despite part of its region being adjacent to PIA where high-frequency flights took place, as well as the high volume of vehicles plying the elevated Bayan Lepas Expressway.

“In light of the potential gravity of such claims, FMM Penang would appreciate if the concerned individual may share relevant studies, facts, information or data with the public to support such insights,” FMM stated.

PTMP is a state-initiated project, costing an estimated RM46 billion, which features an undersea tunnel linking the island to the mainland, highways, LRT, monorail as well as extensive bus connectivity on both the island and the mainland.

Source: Bernama