Rena Park, an on-going development by Absm Land Sdn. Bhd. at Balik Pulau, Penang. Located next to Fragonard Garden by VST Group, about 10 minutes from Balik Pulau town center.

This development comprises 35 units of 3-storey terrace houses, with 2 spacious design to choose from. All units come with a large family area and roof terrace at the 2nd floor and 2 master bedrooms.

Property Project: Rena Park
Location : Balik Pulau, Penang
Property Type : 3-storey terrace
Total Units: 35
Land Tenure : Freehold
Indicative Price : RM770,000 onward
Developer : ABSM Land Sdn. Bhd.
Sales Contact: 017-986 0717 (Selin Ong)

Location Map:

More options for those who are interested in affordable housing at Balik Pulau. Here is the proposal by Ion Development Sdn. Bhd., comprising a 10-storey low-rise condominium with 6 units of shoplots located at ground floor.

This development is located immediately opposite South West District Police Headquarters, it between Heliconia Garden and The Loft 23. The residential component will offer 226 affordable units.

This project is still pending for approval. More details to be available upon project launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Property Project: (Pending)
Location : Balik Pulau, Penang
Property Type : Affordable housing
Total Units: 226
Land Tenure : Freehold
Indicative Price : RM400,000 and below
Developer : Ion Development Sdn. Bhd.

Location Map:

The feasibility study for the controversial RM6.3 billion undersea tunnel is proceeding and expected to be done in six months’ time, said Datuk Zarul Ahmad Mohd Zulkifli when correcting his statement to the contrary.

The Consortium Zenith BUCG chairman today claimed he mistakenly told the media in Kuala Lumpur yesterday that the study was put on hold.

“It’s the puasa month, so I might have mistakenly said that but we are continuing with the study as we are already 83 per cent done,” he said today in a press conference together with Penang Chief Minister Lim Guan Eng.

Lim earlier also clarified that the undersea tunnel and three paired roads project have not been cancelled or postponed.

“There are still 17 per cent left to completion of the study so the contractor will continue with it,” he said.

Yesterday, in a press conference announcing legal proceedings against Parti Cinta Malaysia’s Datuk Huan Cheng Guan over allegedly defamatory statements about Consortium Zenith, Zarul reportedly said the state government had asked them to stop the feasibility study for the undersea tunnel.

Lim today insisted the study was never halted, adding that there were also additional surveys needed.

“After the feasibility study, we still need to get the DEIA and if the DEIA is not approved, the project will not go on too and all costs will be born by the contractor,” Lim said.

One of the conditions for the award of the project to Consortium Zenith was that it must obtain the necessary approvals for the undersea tunnel and three paired roads, failing which it must bear the full costs of the feasibility studies.

He stressed that the undersea tunnel is a future plan to provide an extra link for when the first and second bridges become saturated.

“It will not be built now, construction for the tunnel might only start in 2022 and expected to complete by 2027,” Lim said.

As for the three paired roads, construction works are only expected to start next year and completed by 2022.

Zarul said their priority now is to start work on the three paired roads pending the completion of the feasibility study and obtaining approval for its detailed environmental impact assessment (DEIA) for the undersea tunnel.

Under the massive project, the 7.2km undersea tunnel will link Gurney Drive to Bagan Ajam in north Seberang Perai.

The three paired roads are from Tanjung Bungah to Teluk Bahang, Tun Dr Lim Chong Eu Expressway to Air Itam and Gurney Drive to the same expressway.

Source: TheMalayMailOnline.com

RELATED NEWS: Penang undersea tunnel project on hold

The Penang government has put a stop to the feasibility study on the proposed 7.2km undersea tunnel linking Penang to Butterworth.

Consortium Zenith BUCG Sdn Bhd’s (CZBUCG) chairman Datuk Zarul Ahmad Mohd Zulkifli said the company had stopped its feasibility study for the undersea tunnel following a request by the state government a month ago.

“They did not provide any explanation on stopping the feasibility study for the undersea tunnel, but want us to focus on the highway projects for now,” Zarul told a press conference yesterday.

He said the consortium had spent some RM100mil on the feasibility study, which could be claimed from the Penang government.

Asked if the project was shelved in preference to the construction of a third bridge for the island, Zarul was non-committal.

“We will cross the bridge when we get to it,” he said.

Although there was no compensation clause in the contract with the state if the undersea tunnel project was cancelled, he said the company could still make claims for work done.

The undersea tunnel and three paired road project was awarded to the company in 2013 and is estimated to cost some RM3.2bil, with financing coming from a land swap deal involving 45.5ha to be reclaimed.

On the three paired road project, Zarul said CZBUCG planned to start work this September after getting the nod from the state.

He claimed that the feasibility and detailed design fees for the three paired roads was RM220mil, of which the state had paid about RM135mil through a 1.485ha land swap deal.

On the financing for the three road projects, Zarul said CZBUCG had approached institutions for it.

“The funding for the project would be a mix of investors and bank borrowings. We have our own formula such as in the form of a property fund, where they will pay us first and then get the land later,” he said.

Zarul said the consortium will hold a roadshow and town-hall meetings in Penang in early August to explain the project to Penangites.

Source: TheStar.com.my

RELATED NEWS: Firm claims mistakenly said Penang tunnel study on hold

Penang hopes to secure a conditional approval for its first railway scheme connecting Bayan Lepas to Komtar by next month, state executive councillor Chow Kon Yeow said.

The local government committee chairman said SRS Consortium, the project delivery partner (PDP) for the Penang Transport Master Plan (PTMP), met with Land Public Transport Commission (SPAD) last week.

“The meeting went well and seemed favourable,” he told reporters after a PTMP briefing with Japanese delegates at Komtar this morning.

Chow added that a July approval for the proposed Bayan Lepas Light Rail Transit (LRT) would allow the state to proceed with a three-month public inspection beginning August, to allow public feedback.

The Bayan Lepas LRT project, along with the pan island highway link and the reclamation of two islands off southern Penang, are part of the first phase of the PTMP implementation.

Chow also said that once SPAD grants the approval, a Special Purpose Vehicle (SPV) will be set up to administer the implementation of these projects.

The SPV will be a government entity that that will also be tasked with facilitating city planning, development, promotion and management of the Penang South Reclamation (PSR)  project, he said.

Chow added that the state hopes to commence construction on the Bayan Lepas line – the first phase of the LRT project – by next year. Operations for the first phase should begin by 2023 while the full line should be operational by 2030, he said.

Earlier, during a question and answer session, SRS Consortium business development senior manager Andrew Chan said it will take up to three years before they could have land to sell under the PSR to fund the PTMP.

He said they can proceed with construction of the LRT and highway project first but would still need to time it with the sale of lands from the reclamation.

“We will depend on bridging financing first to fund the reclamation and construction of the LRT and after the third year, we will have lands to sell to fund the project,” he said.

When asked about sustainability of the future transport assets, Chow said the transport system will not rely strictly on farebox revenue and advertisements.

“We are looking at property development to generate another revenue source to sustain the transport assets, like in Japan and Hong Kong. I think Hong Kong’s MTR is known more as a property developer than as the LRT operator,” he said.

Source: TheMalayMailOnline.com