fbpx

AFFORDABLE: Bukit Mertajam / Zuwen Bina

Bukit Mertajam/ 24 December 2016 3 comments /中文版

proposed-affordable-kota-permai-zuwen-bina

Yet another affordable housing proposed at Bukit Mertajam by Zuwen Bina. The newly proposed development is strategically located along Jalan Bukit Minyak, within the vicinity of Kota Permai.

This project comprises a 26-storey condominium with 320 residential units and four units of 2-storey shop offices.

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

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name: (to be confirmed)
Location : Kota Permai, Bukit Mertajam
Property Type : Affordable housing (condominium)
Total Unit: 320
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: Sunshine Spectrum Sdn. Bhd. (Zuwen Bina)

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:

 

SP Setia acquires land in Penang from Boustead Plantations Bhd (BPB)

Property News/ 23 December 2016 No comments

SPSetialandPenangSP Setia Bhd is acquiring five parcels of land measuring a total of 677.8ha in Seberang Perai Utara, Penang from Boustead Plantations Bhd (BPB) for RM620.12 million in cash.

In a filing with Bursa Malaysia today, S P Setia said its wholly-owned subsidiary Setia Recreation Sdn Bhd had entered into a sale and purchase agreement with Boustead Plantations for the proposed acquisition.

The proposed acquisition follows a successful bid submitted by Setia Recreation under a tender process conducted by WTW Real Estate Sdn Bhd.

The land is situated on the mainland of Penang, and it is located within the Butterworth Sungai Petani Growth Corridor with good accessibility from the North-South Highway via the Bertam Interchange.

S P Setia said that the purchase consideration is expected to be funded via the cash proceeds from the issuance of Islamic Redeemable Convertible Preference Shares by S P Setia, which was completed on Dec 6, and/or bank borrowings, the breakdown of which has not been determined at this juncture.

The property developer said the parcels of adjoining land are suitable for township development, and marks the group’s maiden entry into the mainland of Penang.

“The land is planned for the development of a mixed development township which will comprise landed and high-rise housing development and commercial components which will provide the necessary catalyst for the creation of wholesome and sustainable communities

“The group is proposing a development with a gross development value of approximately RM9.6 billion which will be fine-tuned according to the needs and closer to the time of actual commencement of each parcel in the township,” read the group’s filing.

Barring any unforeseen circumstances, S P Setia targets to launch the township development on the land in 2019/2020 and it is expected to take 15 to 20 years to complete.

Read More: TheEdgeProperty.com.my

Tags:

UPCOMING: Butterworth / Venn Group

Butterworth/ 23 December 2016 1 comment /中文版

upcoming-development-butterworth-venn-group

Another proposed strata development by Venn Signature Sdn. Bhd. in Butterworth. It is strategically located along Jalan Kampung Gajah, just a stone’s throw away from Nautical Bay by OHM Group.

This development will see the construction of a 15-storey condominium offering 92 residential units with panoramic view of Penang Island.

Project is still pending for approval. More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Kampung Gajah, Butterworth, Penang
Property Type : Condominium
Total Unit: 92
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: Venn Signature Sdn. Bhd. (Venn Group)

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:

 

Century-old Penang market to get RM5m facelift

Property News/ 21 December 2016 4 comments

20161220_PENANG_MARKET_04_620_465_100The Campbell Street market will undergo a major upgrade next year to give it a new lease of life.

The century-old market, located at the junction of Campbell Street and Carnavon Street, has experienced a drop in business in recent years as the building’s structure deteriorated over the years.

After over two years of planning and consultations, the Penang Island City Council (MBPP) has finalised an upgrade and restoration plan for the market.

“About RM5 million will be allocated for the upgrading and restoration works of the market where new elements will be introduced to inject new life into it,” said local government and traffic management committee chairman Chow Kon Yeow during a site visit today.

The state executive councillor said the MBPP started the process in 2014, first by engaging the stakeholders, getting public feedback and working with a consultant architect and Think City to come up with a Heritage Management Plan for the project.

“After two and half years of planning, it is time to call for a tender of the project by March next year as the consultants needed to make final adjustments to the plans,” he told reporters this morning.

Chow said the work on the exterior of the building is expected to start in the middle of next year.

“The upgrading works will be conducted phase by phase so that it will not affect the daily business of the remaining traders here,” he said.

Chow said the market trading dynamics have changed over the years as both the number of customers and traders have dwindled.

“After the heritage inscription, the way of operations have changed, the number of walk-in customers have reduced, many stalls have closed and wholesaling activities have also reduced,” he said.

The market was first established in the 1900s when the then municipal council bought the land and relocated an existing cemetery there to another site.

In the 1930s, the market received its first upgrade. It was upgraded again in the 1960s.

Throug the years up till the heritage inscription in 2008, the market was one of the main wet markets in the inner city after Chowrasta Market just a few hundred metres away.

With the proposed upgrade, the old market building will be maintained and restored but new features will be added.

A modern Food Street section will be built next to the market to attract new businesses and new customers to the market site.

“We hope this effort will add new elements to the market as the market stalls will be rearranged to give it a new face and new look,” he said.

All existing traders will be maintained at the market and they hope to attract new traders and businesses to the market after the upgrade.

“The Food Street will open new opportunities for other businesses including cafes to attract crowds to the site,” he said.

Read More: TheMalayMailOnline.com

Tags:

Damai Springs

Bukit Mertajam/ 20 December 2016 1 comment /中文版

IMG-20161222-WA0002

Damai Springs, an upcoming residential development by Airmas Group in Bukit Mertajam. It is located at Jalan Betek, diagonally opposite Residensi Harmoni gated and guarded housing scheme.

This development will see the construction of a 15-storey condominium, offering 138 residential unit with built-up size ranging from 1,371 sq.ft. onwards. There will be 12 units per floor, each unit will comes with two car parking lots.

More details to be available upon official launch.

Project Name: Damai Springs
Location :
 Bukit Mertajam, Penang
Property Type : Condominium
Land Tenure : Freehold
Built-up Area: 1,371 sq.ft. – 1,375 sq.ft.
Total Unit: 138
Indicative Price : (to be confirmed)
Developer: General Supreme Sdn. Bhd. (Airmas Group)

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: