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Penang Tunnel road projects face further delay

Property News/ 12 November 2016 35 comments

undersea-tunnel-penang-delayedThe three paired roads proposed as part of the RM6.3 billion undersea tunnel project could be delayed further due to land and environmental assessment issues, said state executive councillor Lim Hock Seng.

“This package was supposed to start first but we found that the lands that was previously acquired by the federal government for the PORR project still belonged to the federal government,” the public works and utilities committee chairman said.

The PORR was the Penang Outer Ring Road project that was proposed by the previous Barisan Nasional state government and later cancelled after they lost in Election 2008.

He said the state government will need to seek approval from the federal government to use the affected land before work for the so-called Package Two — paired roads connecting the Tun Dr Lim Chong Eu Expressway to Air Itam — can start.

Lim said that Penang will proceed with Package One — phase one to connect Tanjung Bungah to Batu Ferringhi and second phase to connect Batu Ferringhi to Teluk Bahang — in the meantime.

He said Consortium Zenith BUCG, the company undertaking the massive undersea tunnel and paired roads project, will identify the land needed and inform the state for acquistion.

“This section involves private land so we can acquire it, unlike federal government-owned land which we can’t acquire,” he said.

But he said Package One will also need a detailed environmental impact assessment (DEIA) from the Department of Environment before they can commence work on the project, compared to the preliminary report as previously required.

The three paired roads project are supposed to be carried out in stages between this year to 2025.

The third package is to connect Gurney Drive to Tun Dr Lim Chong Eu Expressway and it will be the last package to be constructed.

On whether the delay in implementing the projects could raise costs, Lim said the costs of construction for the paired roads were already fixed according to the tender agreement with Consortium Zenith BUCG.

“However, we won’t know about the land costs, as we needed to acquire land, so if land prices were to increase, this means the costs of acquiring lands for the project might increase,” he said.

The proposed undersea tunnel is a 7.2km link between Gurney Drive to Bagan Ajam in north Seberang Perai and the three paired roads were to disperse traffic in the areas and to link to the undersea tunnel.

Meanwhile, a public briefing on Package One of the paired roads, the one from Tanjung Bungah to Teluk Bahang, will be held on this Saturday evening at the Tanjung Bungah market complex to explain the details of the project to local residents.

Tanjung Bungah assemblyman Teh Yee Cheu said his office will also conduct a survey to gather public opinion on the project.

“The paired road is a needed infrastructure project that will benefit the public but I am certain that by engaging the residents in the whole process, there will be a better understanding of the project,” he said in another press conference this morning.

Other than the upcoming briefing, Teh said there will also be more meetings in the form of dialogues with residents in future.

Read Source: TheMalayMailOnline.com

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MARC Residences

Bukit Mertajam/ 11 November 2016 8 comments /中文版

MARC Residences, an upcoming mixed development by Jayamas Property Group at Bukit Mertajam. Strategically located on a 1.84 acres land along the ever bustling Jalan Song Ban Kheng. It is diagonally opposite Honda 3S Centre, just a stone’s throw away from Beng Teik primary school.

This development will see a 26-storey skyscraper, offering a mix of shop houses, serviced suites and condominium units:

  • Shop office (8 units)
  • Serviced suites (40 units)
  • Condominium (110 units)

Residential units has a built-up area ranging from 1,130 sq.ft. to 2,242 sq.ft.

Project Name: MARC Residences
Location : Bukit Mertajam, Penang
Property Type : Mixed development
Built-up Area: 1,130 sq.ft. to 2,242 sq.ft.
Total Units: 8 (office), 40 (suites), 110 (condo)
Indicative Price: (to be confirmed)
Developer: Auspicious Properties (Jayamas Property Group)

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SP Setia buys land in Penang for RM620m

Property News/ 10 November 2016 No comments /中文版

Image source: TheEdgeProperty.com.my

SP Setia Bhd is acquiring 1,675 acres of land in Penang for RM620.12 million following a successful tender bid.

In a filing with Bursa Malaysia yesterday, the group said its wholly owned subsidiary Setia Recreation Sdn Bhd accepted an award of tender for the purchase of the parcels of freehold land in Seberang Perai Utara.

The land represents SP Setia’s maiden entry into the mainland of the state, the company said in a statement issued yesterday.

The site is about 18km away from Butterworth and 32km away from the Penang Bridge. It is surrounded by existing townships, retail malls, medical institute, a university campus and a golf course.

The land is planned for an eco-themed mixed development township that has a potential gross development value of RM9.6 billion, to be developed over 15 to 20 years.

Source: TheSunDaily.my

 

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Development density guidelines in Penang to take effect next year

Property News/ 10 November 2016 40 comments

development-densityThe guidelines for the increase in development density to 128 units per acre from 87 units per acre will only come into effect next year in Penang.

Penang Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the state was in the process of fine tuning the guidelines.

He nonetheless noted developers will still have to comply with the same requirements like having traffic impact assessments and contributions to public amenities.

“Developers still have to adhere to requirements,” he said when asked about the issue today during a visit to the Seri Delima constituency.

The allowance to increase the density was announced by State Housing, Town and Country Planning Committee chairman Jagdeep Singh last month.

The reason being that the higher the density, the smaller the unit size and the smaller the unit, the cheaper the price, which will result in cheaper units across the board.

Units built under the increased guideline cannot be less than 900²ft and not cost less than RM400,000 while affordable housing elements and low-cost (LC) and low-medium cost (LMC) components are maintained.

On the RM150 million allocated to the Sungai Pinang Flood Mitigation Plan Phase Three, Chow said the federal funds were to be channeled directly to the Drainage and Irrigation Department (DID).

“The DID director will supervise the project and the state government will be keeping tabs on the progress,” he said.

Source: TheSunDaily.my

 

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Jerejak island resort to be redeveloped, joint venture with Ideal Property

Property News/ 8 November 2016 13 comments /中文版

jerejakTropical Island Resort Sdn Bhd (TIRSB) has entered into a joint-venture agreement with Q Islands Development Sdn Bhd (QID), a subsidiary of Ideal Property Group, to redevelop the Jerejak Rainforest Resort & Spa and the 80 acres of land owned by TIRSB on the island.

TIRSB is a joint-venture company between UDA Holdings Bhd and Penang Development Corp with percentage equity of 51% and 49% respectively. As the owner of the resort, it had appointed Bestari Hospitality Management to operate the resort since 2004.

The resort is said to be quite popular among local tourists and TIRSB believes QID will be able to re-brand the operations, enhance the value of the development and turn the loss-making property into profitability.

TIRSB said in a statement today that the redevelopment master plan, which will consist of a bridge linking Pulau Jerejak to the main island, has been approved by the Penang state government.

The redevelopment will comprise 1,200 units of residential development, a marina, four- and five-star hotels, theme park, an 11.5km round island cycling track and related infrastructure to promote tourism in the state.

As at April 30, TIRSB has recorded an accumulated heavy loss since it commenced the operation of Jerejak Rainforest Resort & Spa in 2004, which resulted in its closure in May this year.

UDA will have 100% control of TIRSB upon completion of the Novation Agreement.

Consequently and in accordance with the joint-venture agreement between TIRSB and QID, the operation of Jerejak Rainforest Resort & Spa will be handed over to QID within six months after the formalisation of the terms and conditions of the agreement.

Construction of the redevelopment is expected to commence in 4Q2017, with completion slated within eight to ten years.

Read source article: TheEdgeProperty.com.my

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