Tanjung 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

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.

Location Map:

Eastern & 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.

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

M Vista is low density residential development by Mah Sing Group, part of the company’s Southbay township development at Batu Maung. It is located just a stone’s throw away from Free Trade Zone, less than 5 minutes drive to Penang Second Bridge.

This development will feature a 23-storey serviced residence, offering 237 units of residential suites with unit size ranges from 534 sq.ft. to 1,201 sq.ft.

M VISTA VIRTUAL TOUR
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Project Name : M Vista @ Southbay
Location : Batu Maung, Penang
Property Type : Serviced residence
Total Units: 237
Built-up Size: 534 sq.ft. – 1,201 sq.ft.
Indicative Price: RM345,000 onwards (Studio – SOLD OUT), RM500,000 onwards (Standard – Limited units left)
Developer : Mah Sing Group
Location Map:

SITE PROGRESS

SITE PROGRESS: M Vista @ Southbay (May 2021)

SITE PROGRESS: M Vista @ Southbay (Feb 2021)

SITE PROGRESS: M Vista @ Southbay (Nov 2020)

SITE PROGRESS: M Vista @ Southbay (Jan 2020)

Centro Residence, a strata development by Genius Access Sdn. Bhd. at Bagan Lallang, Butterworth. Located off Jalan Tembusu 5, just a stone’s throw away from The Residence gated and guarded scheme by Airmas Group. It is only 15 minutes away from the upcoming Penang Sentral, about 30 minutes drive to Penang Bridge.

This development comprises a 15-storey condominium offering 102 residential units, and 12 units of 3-storey terrace houses.

Project Name : Centro Residence
Location : Bagan Lallang, Butterworth
Property Type : Condominium and terrace
Total Units: 102 (condo), 12 (terrace)
Built-up Size: 1,216 sq.ft. – 2,131 sq.ft.
Indicative Price: RM436,000 onwards (condo), RM639,000 onwards (terrace)
Developer : Genius Access Sdn. Bhd.

Location Map: