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Maya Residence

Bukit Mertajam/ 2 June 2018 5 comments

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Yet another upcoming serviced residence development at Bukit Mertajam. To be development by Maya Inti Sdn. Bhd., strategically located off Jalan Song Ban Kheng, adjacent to Casa Residence development scheme by Jayamas Property Group. It’s about 10 minutes drive from Penang bridge, just a stone’s throw away from Maju Jaya commercial district.

This development comprises a 20-storey serviced apartment, featuring 213 units of residential suites with unit size ranging from 761 sq.ft. to 1,182 sq.ft.

Property Project : Maya Residence
Location : Jalan Song Ban Kheng, Bukit Mertajam
Property Type : Serviced apartment
Built-up Area: 761 sq.ft. – 1,182 sq.ft.
Total Units : 213
Land Tenure: Freehold
Indicative Price: (to be confirmed)
Developer: Maya Inti Sdn. Bhd.

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(This information will be used to keep you updated on the project and future development.)
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Yearning for green spaces and lasting homes

Property News/ 1 June 2018 No comments

MYHOME-amenitiesThere seems to be a growing environmental awareness among Malaysians, if the Lafarge-EdgeProp MYHOME survey findings are of any indication.

Findings from the six-week-long survey show that while the top two considerations when buying a home are convenient location (74.1%) and security (71.8%), having natural green spaces garners 51.4% to be rated as the third top priority for Malaysian homebuyers. The demand for green spaces is ahead of other factors such as built quality (42.2%), returns on investment (21.9%), easy ownership scheme (19.1%), developer reputation (12%) and prestigious address (7.5%).

Organised by Lafarge Malaysia and EdgeProp.my, the MYHOME survey received close to 14,000 respondents. It sought to find out what the ideal home of the majority of Malaysians looks like, as it will form the basis for the design of homes to be built by the country’s top property developer S P Setia Bhd.

Public parks and green spaces are also among the most important amenities that Malaysians want near their ideal home (50.4%), almost on par with other amenities such as public transportation including the mass rapid transit and light rail transit lines (56.5%), schools (55%), and restaurants and cafes (53.8%).

When asked to pick their favourite optional spaces in their ideal home, the respondents’ top two choices are balcony and garden — again reflecting their love for the outdoors and nature.

Notably, most of the respondents are not just hoping for more greenery but also want to live in homes that offer good ventilation (65.6%) and ample natural lighting (40.7%), two hallmarks of a sustainable development.

Green lungs, lush landscaping and open spaces are aspects that may have been less prominent in urban developments due to land scarcity and high land cost. However, it is clear that urbanites are yearning to live amidst nature.

“Landscape plays an invaluable role towards sustainable development. People are concerned about their living and environment quality.

“Landscape provides recreational opportunities and enjoyment, and also encourages healthy lifestyles for its users. Thus, landscape is now considered a base for well-being and inspires living with sustainable values,” says Institute of Landscape Malaysia president Assoc Prof Osman Tahir.

Osman also notes that landscape and greenery also contribute to the social, cultural and psychological aspects of human lives, which are crucial for the liveability of our modern lifestyle and living environment.

“It provides an escape from the physical and emotional pressures of daily life,” Osman adds, emphasising that without landscape and green infrastructure, a space will be considered dead and without any soul or spirit.

A home for all ages

The survey results also show that most households comprise around three to five persons (63.6%), with the majority stating that they range from as young as 19 to as old as 60 years of age (86.1%).

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S P Setia executive director Datuk Tan Hon Lim notes that a teenager’s needs will differ from his parents and even more from his grandparents. “A home must have a certain ‘flexibility’ to cater for the needs of three generations. A good example is our Starter Homes series in Setia Alam, where each unit has an 8ft backyard that is renovation-ready. While the space can be used as a drying area, it can also easily accommodate an extension as the foundation and slabs have already been laid in, should the residents need more space when the family grows bigger.

“Some of our other projects in the Klang Valley and Johor have an open-plan concept, whereby the ground floor can accommodate a room for aged residents and equipped with an en-suite bathroom. Should the family decide that this is not needed, they can tear down the walls to make their living area more spacious.”

Source: EdgeProp.my

 

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Penang CM on Mega Projects

Property News/ 30 May 2018 13 comments

the-new-penang

It’s easy to understand why Chief Minister Chow Kon Yeow is such a popular figure in Penang despite hailing from Kuala Lumpur.

Holding the exco portfolio of Local Government, Traffic Manage­ment and Flood Mitigation for the last two terms here was not an easy task, but Chow’s simple, frugal and austere ways won over the people and even his harshest critics.

Now he is in the hot seat as the chief executive. Here, he shares his thoughts on his plans to move Penang up another notch over the next five years, as well as personal and party matters. Below is an excerpt from the Q&A:

Q: How are you keeping after more than two weeks into the top post in Penang?

As Chief Minister, I also have to look into investment and economic issues, besides being chairman of Penang Development Corporation, PBA Holdings Bhd and other state statutory bodies.

Q: Which plans do you intend to see through in your first term?

Upon taking office on May 14, I took up the Transport portfolio because I intend to see to the implementation of at least some of the projects under the Penang Trans­port Master Plan (PTMP). It is too ambitious to say that we will implement all the projects, but they will be a priority.

On the projects by Consortium Zenith Construction Sdn Bhd (CZC) comprising the RM6.43bil undersea tunnel and three paired roads, we will likely begin construction for one of the three major roads.

As for SRS Consortium, the project delivery partner of PTMP, we will start the Light Rail Transit (LRT) project. Since it is tied to Penang South Reclamation (PSR) in the southern coast of Penang island, the reclamation of three man-made islands will have to start as well to finance the LRT project.

(The PSR is a massive plan to reclaim three islands totalling 1,800ha off the southern coast of Penang island. The success of PTMP, the state government’s multi-billion ringgit public transport project involving LRT, monorail, cable cars and water taxis, depends on funding from property development on the islands.)

One important element here is that people see the reclamation as solely financing the infrastructure projects, which is true in a sense. The man-made islands will not only finance the infrastructure projects, but the lands made available will help meet the development needs of Penang for the next 30 years.

It is near to the Bayan Lepas industrial electronic and electrical cluster. Taking it away from the cluster will not produce the synergy effect.

And preferably, the expansion of our industrial zone into the future must also be near to the cluster and Penang International Airport facilities.

Q: So we can safely say that the three man-made islands are a sure thing?

It is subject to review by the Federal Government. We need approval from the Federal Govern­ment for any large-scale project and the reclamation is one of them. It has to be approved by the National Physical Planning Council. If we can get all the necessary reports to support our application, it will be tabled at the National Physical Planning Council for approval.

Q: You said the LRT component of PTMP is your priority. When can we expect to see it materialise?

We have made a submission to the Land Public Transport Commis­sion (SPAD) since March 2016 for a railway scheme.

Besides the LRT line from Komtar to Bayan Lepas, we have also submitted the other alignment as a full package, as our depot will be built on one of the man-made islands that has yet to be reclaimed. We are still waiting for the environment impact assessment approval.

I believe our application is still active. Hopefully, it will be brought before the Transport Ministry for deliberation and approval.

Q: Previously, it was either an undersea tunnel or a third bridge to link Bagan Ajam and Gurney Drive. What will it be now?

It is still too early to say. We can always make changes because of the cost factor. There is no firm decision on this. CZC will have to complete the feasibility studies first, which are now at 96%.

There is no hurry because even if we were to build the undersea tunnel, it would only take off in 2023.

Right now, CZC’s priority is to start building the 5.7km paired roads starting from Jalan Kampung Pisang in Ayer Itam and connecting with the Tun Dr Lim Chong Eu Express­way in Gelugor. It is one of the three major roads undertaken by CZC.

Q: What are your thoughts on the claims that CZC paid RM22mil to cover up anti-graft investigations on the mega project comprising the undersea tunnel and three paired roads?

It is entirely up to the Malaysian Anti-Corruption Commission to investigate, as it has nothing to do with the state government. We are not the approving authorities.

The concession companies ap­pointed by us are responsible for getting all the approval. What CZC told us was that it was basically political extortion. They were under great duress and had no choice but to believe that the other party could help smooth the process of getting the necessary approval.

This had nothing to do with the state government and we had no prior knowledge of it until it was reported in the media.

Q: Penangites have been plagued by floods on some occasions. What are your plans to resolve this?

The first phase of Sungai Pinang Flood Mitigation project was completed in the late ‘90s and it never went beyond that. This project has been delayed for 18 years.

We need about RM600mil to resolve the problem. The money can be used to build a barrage along the river near the People’s Housing Project in Sungai Pinang. If there is a barrage, backflow from the sea during high tide would not flow inland.

Other components include the construction of pump houses, retention ponds, collector drains along the river, deepening of rivers and the raising of bunds. All these measures are expected to be completed in three and a half years.

We believe these measures will help mitigate floods. All designs can only cater to a certain capacity, so we cannot say that there will be no floods after this.

It is important to secure approval and funding from the Federal Gov­ernment. The Sungai Pinang Flood Mitigation project is vital because it has impact upstream, as there are six tributaries linked to Sungai Pinang.

Q: Many hillslope developments have taken shape, especially in the Tanjung Bungah area, which has drawn concern from environmental activists. What is your take on this?

The current state government will not change the tight guideline of restricting development 76m or 250ft above sea level, although the national guideline can go up to 500ft. The guideline is very restrictive as it will prevent a lot of hill lands from being developed.

This guideline only came into place under the Penang Structure Plan approved in 2007. Before that, approval had already been given to certain developments we can’t stop abruptly. Under this category, there are many projects approved that went beyond the restriction.

I will get the Penang Island City Council to brief me on how much land is still left that is restricted by the guideline. If there is not much land left, we will consider that the guideline will prohibit hillside deve­lopment in the future.

If the guideline is still in place, the people of Penang must confront the fact that there won’t be any development beyond this guideline. Land will become expensive. If there is no reclamation, what will the future hold for Penang island?

Q: Gentrification is an issue in George Town, with foreigners snapping up properties within the Heritage zone. What do you think of this?

Prior to interest in our heritage buildings and before the inscription of the Unesco World Heritage Site, there were a few hundred houses in need of refurbishment. Some houses collapsed during storms.

If you look at the heritage site today, there are few dilapidated houses left due to the interest in heritage properties. The owners have greater appreciation of their value.

My personal stance is to save the house first. If there are buyers, we should save the buildings and negotiate on their use later.

Q: Regarding tourism, is there any new programme that your administration would like to introduce to attract visitors within the next five years?

We should be more selective not only in terms of quantity matters, but in terms of quality as well. We need to have niche tourism markets to get high spenders.

At the moment, we cannot be choosy as we need them to fill up our hotel rooms and patronise our local businesses. But there will come a time when it will negatively impact the local environment.

We should move up a notch by focusing on higher spending and business travellers rather than the usual travellers.

Q: In your own opinion, what should an ideal Penang look like?

Economic growth with environmental sustainability would be an ideal situation rather than sacrificing the environment for the sake of development.

Development has to be balanced not only geographically, but also in the strata of society, meaning that the B40 class (households earning RM3,900 a month or less) must be able to benefit from the economic development.

There must be job opportunities and stable income for them. They must not be sidelined or living in poverty without jobs. If jobs can be made available to foreign workers, why can’t it be the same for locals?

Source: The Star

 

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Exclusive Update: Eco Horizon (May 2018)

Eco Horizon is a 300-acre integrated mixed development by EcoWorld at Batu Kawan. The project serves as the first gated and guarded landed residential development for EcoWorld in Penang.

The main highlight of this development is a flamingo-inspired lake garden which is spread over 13.6 acres of land – the equivalent of 13 football fields – and brings you closer to nature.

At Eco Horizon, 70% of the land has been earmarked for landed properties. The project will be home to four distinct homes collections. Last year, the Ashton Collection- comprising double-storey terraces – was launched and the developer will focus on the launching the Brydon Collection which is made up of semi-d’s and bungalows.

This development is located next to the landing point of the Penang Second Bridge and the Batu Kawan Industrial Park. A proposed major retail development catering to vibrant commercial activities and a university are among some of the amenities found at your doorstep!

Additionally, Eco Horizon provides thematic landscaped gardens which lend peace and calm amidst hectic lifestyles. The gazebo found on our grounds serve as a signature of all EcoWorld developments.

Featuring open concept homes in 8 distinct designs, within a gated & guarded community. The homes built-up range from 22’x70’, 25’x75’ up to 30’x60’. The Garden Home and Superlink come with wide car porch which can accommodate up to 3 cars. The unique part of  the Garden Home, is that each unit comes with a pocket garden, catering to different lifestyle options.

There is  also a 20’ back lane garden found in every unit, providing better childhood memories to children and encourage commune with nature.

Seeing is believing, experience it yourself by visiting Eco Horizon show village today. :)

* Exclusive update by Penang Property Talk *

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Find out more about Eco Horizon

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Penang’s mega projects can now be completed earlier

Readers Column/ 27 May 2018 3 comments

LRT-MAP1by Charles Tan

The sky in Penang seems brighter today than before the GE14? I believe in general, Penangites would welcome the announcement by the newly minted Chief Minister Chow Kon Yeow. He said this in an article in TheSunDaily. “Need for Penang’s mega projects to be expedited.” Specifically, he said this in the article, “We have also received requests from Land Public Transport Commission (SPAD) to discuss how best to develop the projects.” Actually, this is a very powerful sentence because it showed that the federal and the state government are now working on the same side. Usually, this meant that there is now speed in everything that’s proposed. As long as the projects are beneficial to the state and its expedited, we are definitely looking at much brighter prospects for Penang moving ahead. Yes, also the property market even if everyone must still buy carefully because the number of unsold units remain high. Here’s an earlier article.

Some of the projects being classified as state mega projects are the underwater tunnel project which includes the construction of three major highways, the Southern Penang reclamation project, Penang Sky Cab and Light Rail Transit (LRT) with an estimated total cost of RM46 billion. Chow said that the implementation of the two major highways connecting the Tun Dr Lim Chong Eu Highway to Air Itam and Tanjung Bungah to Teluk Bahang under the Zenith Consortium will start first since both of these major highways has received Environmental Impact Assessment (EIA) approval. These mega projects are under the Penang Transport Master Plan. It will help to overcome traffic congestion in Penang and also connect the island to Seberang Perai. They are the 7.2km undersea tunnel project which will connect Persiaran Gurney to Bagan Ajam in Seberang Perai. The main highway construction comprises the 10.53km from Tanjung Bungah to Teluk Bahang, the Air Itam-Tun Dr Lim Chong Eu Expressway and the Persiaran Gurney-Tun Dr Lim Chong Eu Expressway. Full article in TheSunDaily.

For owners with homes in Penang today, you have made a great choice of buying and waiting. 🙂 Well, to those who believe the new CM of Penang, I guess it’s time that viewings start? Perhaps not yet the buying stage but the viewing stage can certainly start because property investment takes a lot of time to complete. Earlier article here. As for the actual projects that will proceed, I think it’s important that the it goes through the right stakeholders so that it is really beneficial to the state and not because it was something that was delayed and now it should be expedited. Connectivity is extremely important but the state government should also have an overall plan for the development of Penang for the next 5 years,10 years and more. I think this is the best time to sit down with the relevant stakeholders and discuss objectively. The element of ‘I am not on your side’ has been cast aside. We only have the Malaysian side today as demonstrated by majority of Malaysians. Happy investing.

>> This guest article comes courtesy of my friend, Charles, the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 14 years experience as well as from all the readings and conversations with property gurus in the industry. (Source)

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