The culturally and historically significant landmark, Chowrasta Market’s physical form is given new life. Chowrasta Market’s integrity is preserved with careful planning with integration of existing marketplace activity while sensitively adding new functions and spaces to revitalise the character and quality of the market. The design also intends to create a pioneer eco-project based on responsible and sustainable planning, aiming for GBI certification. Due to community needs and interests, public consultation and focus group studies were conducted throughout the entire design process.

Upgrading works of the three-storey market, built in 1890, started in May 2013, and works include tearing down existing shops and stalls, replacing them with new ones as well as building two extra floors on the back portion of the market to serve as car park.

It was also reported that the new market will have 295 stalls and shops as well as 56 stalls selling dry goods along Jalan Chowrasta.

Other features of the market makeover include opening an entrance from Jalan Kuala Kangsar.

While the car park is already opened, the upgrading works for the whole market complex is scheduled to complete end of this year.

Source: LLA

J-Avenue Commercial Hub, a mixed commercial development by TPS Properties Sdn. Bhd. at Bukit Minyak. It is strategically located along Jalan Bukit Minyak, about 1km away from AEON Big hypermarket.

The entire development will be completed in two phases, with first phase featuring a mix of 2 & 3 storey shop offices:

Phase 1

• 2-storey link shop offices (15 units)
• 3-storey link shop offices (2 units)
• 3-strong semi-detached shop offices (8 units)

Phase 2

• 24-storey serviced apartment (200 units)

More details to be available upon project launch.

Property Project: J-Avenue Commercial Hub
Location : Bukit Minyak
Property Type : Shop offices & Serviced apartment
Total Units: 25 (shop office), 200 (serviced apartment)
Land Tenure : Freehold
Indicative Price: RM788,000 onwards
Developer : TPS Properties Sdn. Bhd.

Location Map:

A proposed commercial development by Kuala Lumpur International Dental Centre (KLIDC) at Georgetown. It is strategically located at the junction of Jalan Zainal Abidin and Jalan Burma, right opposite Tune Hotel.

This development will see a 24-storey commercial building, comprises a hospital and 210-rooms hotel with swimming pool located at the top floor.

The project is still pending for approval

Project Name: (to be confirmed)
Location : Georgetown
Property Type : Mixed development
Total Units: 210 rooms (hotel)
Developer : KLIDC

Location Map:

DISCLAIMER: This article is purely based on research done using publicly available data. This is not an advertisement by the developer or agent, unless stated otherwise. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

Queens Residences and The Tamarind, the two most popular Q2 2016 projects in Penang have their own unique popularity. Take a look at the comparison of these two projects…

	The Tamarind	Queens Residences
Developer	E&O Property	Ideal Property Group
Location	Tanjung Tokong	Bayan Bay
Standard unit size	1,042 onwards	950 sq.ft. – 1,650 sq.ft.
Price psf.*	RM700 onward	RM780 onward
No. of carpark	2	2
Selling Price*	RM700,000 onward	RM760,000 onward
Development land size	7 acres	11.74 acres
Land tenure	Freehold	Freehold
Total units	1,104	2,100
Expected completion	2019	2020
Highest floor	33	30
5 nearest schools	Tenby International School (4km) Penang Chinese Girls High School (4km) Phor Tay Primary & High School (3km) TAR College (4.5km) Han Ming Primary School	SJKC Shih Chung (3km) Phor Tay High School (3km) SJKC Kwang Hwa (3km) SK Sungai Nibong (2.5km) Straits International School (9.5km)
5 nearest malls	Gurney Plaza (3.5km) Island Plaza (1.5km) Tesco Sungai Pinang (1km) Gurney Paragon (3km) Straits Quay (1.5km)	Queensbay Mall (0.2km) Bukit Jambul Complex (3.5km) Sunshine Square (4km) Giant Hypermarket (5km) Tesco Hypermarket (7km)
Web popularity (Past 90 days)	9,500 pageviews	10,500 pageviews
Travelling to (off peak) Penang Bridge 2nd Bridge Airport Komtar FTZ	14km (20 minutes) 22km (28 minutes) 22km (30 minutes) 7km (16 minutes) 19km (26 minutes)	4.5km (9 minutes) 7km (9 minutes) 8km (14 minutes) 18km (22 minutes) 5km (8 minutes)
	Find out more about The Tamarind exclusive package!	More about Queens Residences

*Based on initial soft-launch price

The Penang state government will soon make its decision regarding a proposal to revise the current density guidelines to 128 units per acre in order to provide more affordable housing in the state.

Penang State Exco for Housing and Town & Country Planning Jagdeep Singh Deo said the proposal to raise the density from the current 87 units per acre is in the final stages of discussions and an announcement will be made soon.

“During a series of meetings with relevant stakeholders, it was suggested that the [87 units per acre] guideline be revised as they are facing difficulties selling large units that are deemed unaffordable (pursuant to the density guidelines),” Jagdeep said at the Penang International Property (PIP) mid-term review conference in Penang last Friday (Aug 5).

The proposed revision to 128 units per acre guideline will also take into consideration the affordable housing component for developers that come under this guideline.

The current 87 units per acre policy comes with the requirement that developers must ensure that 5% of their total project is priced at RM200,000; 15% is priced at RM300,000 and 5% is priced at RM400,000.

Under the new proposed density of 128 units per acre, it has been proposed that 5% of the developer’s project be priced at RM200,000 and another 20% be priced at RM300,000.

Meanwhile, on the performance of the current property market in Penang, Jagdeep said residential properties in Penang have shown a 15.67% quarter-to-quarter increase in property transactions from 3,110 transacted units (valued at RM1.21 billion) in 1Q2016 to 3,597 units (valued at RM1.44 billion) in 2Q2016.

“Nationally, the unit price index was 227.5 for all houses in Malaysia while for Penang, it was 262.2. This higher unit price index recorded for Penang shows that the average mean housing price in Penang is still on the rise,” Jagdeep added.

“These statistics prove that investing and owning a home in Penang continues to be highly desirable and this is a positive indicator for property developers in Penang,” he added.

Among other issues discussed during the summit included suggestions to allow developers to pay certain contributions by way of corporate guarantee instead of a bank guarantee; and for contributions to be capped at a fixed rate instead of being based on the existing market valuation.

The summit also discussed the formation of a State Planning Technical Special Committee to ensure a more efficient consideration for the applications of development projects.

Source: TheEdgeProperty.com.my