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AFFORDABLE: Sungai Nibong / Vista Fleet Sdn. Bhd.

Sungai Nibong/ 8 September 2017 84 comments /中文版

upcoming-sungai-nibong-vista-fleet

A proposed affordable housing development by Vista Fleet Sdn. Bhd. at Sungai Nibong. Located along Persiaran Pantai Jerejak 1, just a stone’s throw away from 98 Nibong Residence. It is about 1km away from Queensbay Mall, about 10 minutes drive to Penang Bridge.

This development comprises a 20-storey condominium, offering 67 affordable units with standard built-up size of 850 sq.ft.

The project is still pending for approval, more details to be available upon official launch.

Property Project : (to be confirmed)
Location : Sungai Nibong
Property Type : Affordable housing
Tenure: Freehold
Built-up Size: 850 sq.ft.
Total Units : 67
Indicative Price : RM300,000 (estimated price for affordable housing)
Developer : Vista Fleet Sdn. Bhd.

Register your interest here

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

Location Map:

(Approximate location)

 

Residents divided over coastal route

Property News/ 6 September 2017 23 comments

Penangites aloncprthe island’s north coast seem divided over the North Coastal Paired Road (NCPR) project.

Some residents in Tanjung Bungah want the road plan scrapped but many in Batu Ferringhi and Teluk Bahang want it as soon as possible.

“Do you know what it was like after the recent big landslide? We were cut off for two weeks. No fuel, no groceries.

“That day, my son had to take his SPM exams and I took him to school by travelling in a big round through Balik Pulau,” said Penang Nature Tourist Guides Association chairman Fauzi Mohd Yacob in Teluk Bahang.

He was referring to twin disasters on Nov 7 when a landslide buried the road between Teluk Bahang and Batu Ferringhi while another road section fell into the sea after a downpour.

“I’m a nature guide and if you want to cut down a tree, I will say no.

“But there is a difference between a need and a want. And the NCPR is needed,” Fauzi said.

A team from The Star spoke to residents, shopkeepers, fishermen and taxi drivers on Monday to get their views on the NCPR.

Food stall owner Sharifah Feisol, 54, from Batu Ferringhi, said she once saw an ambulance with siren blaring stuck in traffic.

“It tried to squeeze through the jam but the road was too narrow and the cars had no space to make way for it. It was a nightmare!”

Fisherman Wong Tien Swee, 35, felt that people should not object to the NCPR unless they live in the northwestern corner of the island.

“Just one small accident along the way and the lorries to collect our fish will be hours late,” he said.

Taxi driver Loo Ah Huat, 81, said he had been servicing Batu Ferringhi for the past 50 years and watched the traffic problems grow.

“On weekends or holidays or after an accident, the whole way from Hard Rock Hotel to the Tanjung Bungah floating mosque will be heavily jammed. We need a new road now.”

But in Tanjung Bungah, a few residents expressed fears that the NCPR might bring traffic from Teluk Bahang and Batu Ferringhi to the Vale of Tempe area.

Retired teacher Ong Nyuk Foong, 59, argued that Jalan Lembah Permai was already congested with new housing developments, an international school and university college.

“The NCPR will make it worse. We don’t want it,” she said.

It was reported in The Star on Monday that the Tanjung Bungah Residents Association got 400 people to sign a petition and wrote to the Department of Environment, urging it not to approve the detailed environmental impact assessment report of the road.

It listed several grounds for objection including the cost-to- benefit, deforestation, construction on slopes steeper than 25 degrees, noise and air pollution.

The NCPR is a 10.53km four-lane road built on hill slopes starting from near SK Teluk Bahang and ending at the L-shaped bend of Jalan Lembah Permai at Sri Vazhikattum Muniswarar Temple in Tanjung Bungah.

Source: TheStar.com.my

 

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Call to scrap proposed North Coast Paired Road

Property News/ 4 September 2017 15 comments

pair-road-tTanjung Bungah residents want the proposed new road from Teluk Bahang to their neighbourhood scrapped after realising it entails deforestation and construction on slopes with gradients steeper than 25 degree.

Through the Tanjung Bungah Residents Association (TBRA), 400 of them signed a petition against the North Coastal Paired Road (NCPR).

TBRA chairman Meenakshi Raman said the environmental impact assessment (EIA) showed that 3.34ha of gazetted forest reserve will be cleared for the road.

“Tracts of the Teluk Bahang Forest Reserve and Bukit Kerajaan Forest Reserve will be deforested. How can this be allowed?” Meenakshi said during a press conference at the Tanjung Bungah market yesterday.

She said the EIA revealed that 46% of the proposed road would be on slopes with gradients higher than 25 degrees.

“The EIA is clear that slope instability risks will be high. Mitigation measures are suggested, but haven’t we learnt enough about Penang’s development? The island is sensitive to landslides,” she said.

The residents urged the Department of Environment (DoE) in writing not to approve the EIA. A copy of the letter was also forwarded to Chief Minister Lim Guan Eng on Aug 21.

The NCPR is a 10.53km four-lane road that is part of the Penang Transport Master Plan and is under the purview of Consortium Zenith Construction. It is part of the traffic dispersal system of the Penang Undersea Tunnel project.

The residents are also confounded by the cost. Meenakshi said in 2011, the estimated construction cost and land acquisition cost of the NCPR was RM1bil.

She felt the EIA should have included a cost-to-benefit analysis and “for RM1bil, can’t we think of other alternatives to the traffic problem?”

In response, state exco member Lim Hock Seng clarified that the clearing of the forest reserves was studied in the EIA as a requirement, but the state is planning to avoid it.

“The first phase of NCPR is from Batu Ferringhi to Tanjung Bungah. The Teluk Bahang stretch, where the forest reserves are, won’t happen so soon.

“Although it is studied in the EIA, we do plan to continue examining alternatives and avoid deforestation,” said Lim.

Source: TheStar.com.my

 

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Emerald Residence

Teluk Kumbar/ 2 September 2017 83 comments /中文版

emerald-residence

Emerald Residence, yet another condominium development by TPPT Sdn. Bhd. at Teluk Kumbar, Penang. Located along Jalan Teluk Kumbar, adjacent to Platinum III. It is about 5km away from Penang International Airport, under 15 minutes drive to Penang Second Bridge.

This development comprises 3 blocks of 28-storey condominiums, offering a total of 411 residential units with built-up size ranges from 1,114 sq.ft. onwards.

Project Name : Emerald Residence
Location : Teluk Kumbar, Penang
Property Type : Condominium
Total Units: 411
Built-up Size: 1,114 sq.ft. and 1,183 sq.ft.
Indicative Price: RM420,000 onwards
Developer : TPPT Sdn. Bhd.

Register your interest here

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

Location Map:

 

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Seri Tanjung Pinang Phase 2A reclamation to complete in 2H 2018, first launch in 2019

Property News/ 1 September 2017 7 comments

stp2-designEastern & Oriental Bhd’s (E&O) net profit increased 6.5-fold to RM21.24mil for the first quarter of the financial year ending March 31, 2018 from RM3.24mil in the corresponding period last year.

The lifestyle property developer attributed its earnings growth to its property segment, which witnessed higher revenue recognition from ongoing projects namely The Tamarind, the Amaris Terraces and the Ariza Seafront Terrace in Seri Tanjung Pinang (STP), Penang as well as an increase in the sale of completed properties.

E&O managing director Kok Tuck Cheong said: “Notwithstanding the prevailing property market conditions, there has been encouraging support for our properties in Seri Tanjung Pinang which has buoyed the group’s performance in the first quarter.”

During the quarter under review, E&O’s earnings per share rose to 1.66 sen from 0.26 sen in the corresponding period last year.

The group’s revenue rose about 6% to RM173.44mil in 1Q18 from RM163.31mil in 1Q17.

Going forward, E&O said it would continue to pursue the sale of completed properties and the reclamation of Seri Tanjung Pinang Phase 2A (STP2A) in preparation for the launch of projects in 2019. STP2A reclamation works were slated for completion in the second half of 2018.

“Timing is important and we are monitoring the market closely,” Kok said of the group’s upcoming projects.

Kok said that in tandem with the group’s focus on mobilising its inventory of completed properties, there were also concerted efforts towards realising the STP2A project.

He said the reclamation works for STP2A was progressing with more than 75% of the island being reclaimed.

Earlier this month, E&O shareholders sanctioned the RM766mil sale of a portion of STP2A to KWAP Inc, paving the way for the group to unlock the value of its investment in STP2A and importantly, further reinvest into the development of STP2A.

E&O noted that while property market conditions continued to be challenging, it had achieved encouraging take-up rates with its projects in Seri Tanjung Pinang. This included the positive response received for The Tamarind and Ariza Seafront Terraces phase two.

E&O said it would continue to evaluate existing assets as part of ongoing efforts to monitor cashflow while maintaining a manageable gearing level to strengthen its financial position.

Source: TheStar.com.my

 

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