About 3,000 jobs will be created for locals with the opening of a RM200 million high-end Global Business Services (GBS) complex near the second bridge by 2020, Chief Minister Lim Guan Eng announced yesterday.

He said the complex, called “GBS by the Sea”, would be housed in two buildings, one eight storeys and the other nine storeys, with a total floor space of 411,000 sq ft and 2,500 parking lots.

Lim said the Penang Development Corporation (PDC) would build the project next to the current Motorola Solutions building at the Free Industrial Zone in Bayan Lepas.

GBS is a term referring to businesses housed under one roof that offer shared services and outsourcing to improve service delivery and reduce costs.

Last month, Lim launched GBS@Mayang, a similar set-up which involved the refurbishment of a mall in Bayan Baru.

The Mayang initiative is part of the Bayan Baru Improvement District under the Penang Cyber City plan.

“Penang’s concerted efforts to enhance GBS infrastructure will provide higher value jobs in the manufacturing industry through expansion and diversification of the GBS business,” Lim said in a press conference at Komtar.

“We aim to be part of the Industry 4.0 Transformation, which revolves around big data analytics, e-commerce, crowdsourcing, cloud computing and the Internet of Things.

“GBS by the Sea is expected to attract many key international players.”

According to PDC general manager Rosli Jaafar, GBS by the Sea is envisioned as a centre for tech and R&D companies.

It will be an MSC Malaysia cybercentre-standard building incorporating retail and food outlets, he added.

Outsourcing Malaysia, the industry association, projected that Malaysia’s GBS sector would see a compounded annual growth rate of 10%-15% in the next three years.

According to Malaysia Digital Economy Corporation, GBS companies with MSC Malaysia status recorded a total revenue of RM18.4 billion in 2016.

The Malaysian Investment Development Authority, in its 2016 report on investment performance, listed Penang in second place after Kuala Lumpur in investments for Global Establishments for Services or “Principal Hub”, with an investment value of RM4.1 billion.

Source: FreeMalaysiaToday.com

Fairview Residence, an affordable housing development at Sungai Ara, Penang. Strategically located next to Setia Pinnacle by SP Setia, about 10 minutes drive away from Setia SPICE. This is a joint venture development between BSG Property and VST Group.

This development will features 34-storey condominium offering 750 units of affordable housing, with standard built-up size of 970 sq.ft.

Project Name: Fairview Residence
Location : Sungai Ara, Penang
Property Type : Affordable Housing
Built-up Area: 970 sq.ft.
Total Units: 750
Indicative Price: RM388,000 onwards
Developer: BSG Property & VST Group

Location Map:

SITE PROGRESS

SITE PROGRESS: Fairview Residence (Oct 2021)

Eco World Development Group Bhd is targeting to launch the first phase of landed terraced homes at its Eco Horizon and Eco Sun complementary township developments in Batu Kawan, Penang sometime in 2H2017, Eco World Penang general manager Khoo Teck Chong told TheEdgeProperty.com.

The 300-acre Eco Horizon and 74.5-acre Eco Sun have a combined gross development value (GDV) of more than RM7 billion to be developed over the next 10 years.

Eco Horizon will be divided into four residential precincts and one commercial precinct.

“For Eco Horizon, we are allocating over 230 acres of land for the residential component itself, while the remaining 70 acres will be for a commercial precinct. We are looking to launch the commercial precinct four to five years from now,” said Khoo.

“We will launch the terraced houses first, then maybe we will move on to other types such as the semi-dees. We always believe in bringing in the residential component first before the commercial,” said Khoo.

The two-storey terraced homes to be launched in both Eco Horizon and Eco Sun will have built-ups from 2,000 sq ft, with an estimated selling price starting from RM800,000.

Find out more about Eco Horizon and Eco Sun

Meanwhile, Khoo added that the houses in both Eco Horizon and Eco Sun will have a colonial design concept.

“The houses will be something similar to our landed houses at Eco Botanic. The Eco Botanic landed homes are like a sneak peek of what we will be offering at our mainland township,” said Khoo. Eco Botanic in Johor is the developer’s maiden township launched in 2013 with a total GDV of RM3.79 million. Over 15% of the 270-acre freehold development has been reserved for greenery including indigenous trees and plants. The first residential project of Eco Botanic — dubbed The Verandah — comprises 624 cluster homes and semi-dees, which were fully sold and delivered to buyers last September.

“Eco Horizon and Eco Sun will be in a gated-and-guarded development. We will definitely not scrimp on security because that is of utmost importance. We will also be building a larger-than-normal clubhouse for the residents to enjoy,” explained Khoo. Eco Horizon and Eco Sun will have two separate entrances. While the clubhouse is located at Eco Horizon, residents at both Eco Horizon and Eco Sun are free to use the facilities.

Located at the centre of Eco Horizon will be the township’s 13.6-acre main park, with a pond that will take the form of a pair of flamingos.

“We understand that the residents may not utilise the clubhouse on a daily basis, yet when they want to use it, they want complete amenities such as a big gym and a big swimming pool. By building a bigger-sized clubhouse to be shared among more than 2,000 units of homes, this will definitely reduce maintenance fees, yet they can enjoy all the facilities,” he said.

According to Khoo, there are many Penangites who are looking for landed homes but cannot afford to buy them on Penang island.

“I would say many of them are genuine homebuyers and upgraders who may have previously bought a non-landed property to stay but have always dreamt of owning a landed property. Unlike the island where there are only small pockets of land for development, Batu Kawan offers clean swathes of land where we can showcase what we can do for these homebuyers,” said Khoo.

“The upcoming developments in Batu Kawan will be exciting as catalysts such as the second Penang Bridge to ease connectivity from the mainland and island will encourage more people to live on the mainland. Besides, the industrial area in Bayan Lepas is already fully occupied and companies are constantly looking for places to expand. The industrial development at Batu Kawan will involve high-technology components and with more upcoming industrial developments in Batu Kawan, it will definitely draw more people to work and live here,” Khoo added.

Source: TheEdgeProperty.com.my

Covering 245 acres of freehold land in Bandar Cassia, Batu Kawan, Aspen Vision City is the collaboration between Aspen Group and Ikano Pte Ltd, owner of popular furniture franchise IKEA.

Among the key highlights of Aspen Vision City is the development of an integrated shopping centre and the Northern Region’s very first IKEA store. The much-anticipated IKEA furniture store as well as the shopping centre will be placed under the management of Ikano Pte Ltd.

Strategically located at the landing point of the Second Penang Bridge, Aspen Vision City offers a mix of condominiums, shop offices, serviced suites, hotels, office tower, financial hub, medical centre and international school.

Current Developments:

Vervea –  The first phase of Aspen Vision City’s development at the heart of Bandar Cassia, Batu Kawan. Located on a 35-acre freehold land, claimed to be the largest gated and guarded commercial precinct developed in Penang.

Vertu Resort – The very first resort inspired high-rise development by Aspen Group at Batu Kawan, with a gross development value (GDV) of RM620mil. This is the second phase (and the first residential development) in Aspen Vision City.

Vittoria –  Commercial development by Aspen Group at Aspen Vision City in Batu Kawan. It is strategically located next to Vertu Resort Condominium and the future Columbia Asia Medical Centre, right opposite KDU University College.

Viluxe – Gated and guarded luxurious designer bungalow development by Aspen Group in Aspen Vision City. It comprises 157 units zero-lot bungalow with direct access to the future 25-acre Central Island Park. There will be 6 design types to choose from.

IKEA – This  will be the forth IKEA store in Malaysia and the second one outside of Klang Valley after Johor Bahru. The new store is expected to open for public by Q1 2019.

The Penang Waterfront Convention Centre (PWCC) spanning 25,083sq m is poised to turn the state into a hub for conventions and exhibitions in Southeast Asia.

Its multipurpose hall will be a sprawling 7,060sq m, the largest ever planned for Penang.

But the best news is that PWCC is part of the 381,000sq m seaside development, The Light City, which will have a retail mall, two luxury hotels, a 28-storey office tower and two premium condominium blocks.

This RM4.5bil freehold project, about 32 acres, is located along Tun Dr Lim Chong Eu Expressway near Penang Bridge and The Light Waterfront.

The project, expected to be ready by 2021, was unveiled by IJM Perennial (IJMP) Development Sdn Bhd recently at a ceremony attended by Chief Minister Lim Guan Eng and 200 guests in The Top@Komtar.

This is a joint venture between IJM Corporation Berhad and Perennial Real Estate Holdings Ltd from Singapore.

Perennial chief executive officer Pua Seck Guan said The Light City would be at a coveted location and designed with a good asset plan.

“It will feature modern architecture with a heritage setting.

“When completed, it will be one of the iconic landmarks in Malaysia,” he added.

He said the five-storey retail mall will cover a total gross floor area of about 140,000sq m, built in such a way that the ambience mimics heritage areas such as Armenian Street.

IJM Land Berhad managing director Edward Chong said the two luxury hotels would offer 745 rooms.

Chong added that the two condo towers, christened Mezzo and Essence, would be 34 storeys tall.

Source: TheStar.com.my