A new 20km highway, the Pan Island Link 1, is proposed to alleviate the heavy traffic load on the Tun Dr Lim Chong Eu Expressway (LCE) and adjacent arterial such as Pengkalan Weld, Jalan Masjid Negeri, Jalan Jelutong and Jalan Sultan Azlan Shah. Given that little can be done to improve conditions on the LCE, the solution is to provide a second North–South spine road.

It also addresses the strategic importance of traffic dispersal from the newly-­opened Second Penang Bridge and the future undersea tunnel.

It will be able to accommodate potential increase in travel demands from the enlarged Penang International Airport, expansion of the Bayan Lepas industrial zone, and the proposed reclaimed islands in the Southern Coast of Penang Island.

It is designed with six interchanges to link highly-populated areas and transport hubs on the island from the Second Bridge and the Penang International Airport all the way towards George Town, Paya Terubong, Bayan Baru, and Relau.

PIL1 will be a dual three–lane purpose-built highway with limited points of access to ensure certainty in speed and travel time over the entire length of the highway. The alignment along the mountainous terrain also avoids the possibility of congestion caused by future developments.

The proposed highway will be built beyond the developed periphery of George Town, to disperse traffic away from it rather than force traffic to converge in the extended parts of the city.

The PIL1 would not only allow better traffic dispersal but also improve accessibility to various areas along the north–south corridor of Penang Island. Upon completion, it will be able to significantly shorten north-south travel time to only 15 minutes from Gurney Drive to the airport, favorably compared with the current 45 minutes required under normal traffic conditions on the LCE.

* Click here to find out more about Penang Transport Master Plan (PTMP) *

2016 looks to be another happening year for property industry in Penang. While many industry experts predicted the property market to remain slow, our website traffic has hit an all-time high with nearly 1 million pageviews and over 180k unique visitors in Q1.

With that in mind, let’s take a look at the 20 most active projects in Q1 2016. The Tamarind by E&O continues to hog the limelight being the most popular project in Penang, followed by the affordable One Foresta and i-Santorini by Ideal Property Group.

Vertu Resort, ranked fourth in the list, is the very first high-rise development by Aspen Group at Batu Kawan. It is expected to continue gaining traction as the show gallery is slated to open by end of this month.

On the affordable segment, it’s worth mentioning that the newly announced affordable units at QuayWest Residence only starts from RM200,000, with unit size ranging from 728 sq.ft. onward.

* Projects are ranked based on the pageviews recorded in Google Analytic web traffic report for PenangPropertyTalk.com.

– Ken Lim
(Founder and Principal Reviewer, PenangPropertyTalk.com)

The Penang Structure Plan, which is out-dated, needs to be revised to incorporate the three proposed man-made islands off the south coast near Permatang Damar Laut meant to fund the Penang Transport Master Plan (PTMP).

State Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said a special task force would adopt a master plan to guide the development of the new islands set to have a population of 300,000.

The task force includes the Town Planning and Develop-ment Department.

“The master plan will guide the development of the three islands measuring 1,821ha for commercial, residential, industrial, institutional and open space usage.

“In May, this plan will then be submitted to the state planning committee for it to be adopted into the Penang Structure Plan.

“In June or July, the proposal for the three islands will be submitted to the National Physical Planning Council for consideration.

“Following the changes, the Penang Structure Plan will need to be revised.

“The local plan will also need to be based on the revised plan,” he said.

Chow told reporters after a dialogue session with the Malaysian Dutch Business Council attended by Chief Minister Lim Guan Eng.

On the Bayan Lepas Light Rail Transit (LRT), Chow said the conditional approval for the project was expected to be given in June.

“The final approval should be given early next year.

“More than RM20bil worth of jobs can be expected to be tendered out to contractors following the implementation of PTMP,” he said.

To a question on waste management for the islands, Chow said the issue would be tackled.

“The islands will be designed with new technologies to handle the problem,” he said.

Earlier in his speech, Lim said a global property consultant had recently voted Penang as the preferred destination for investment in the country.

“Even without a proper transportation system, Penang can still be the choice location of investment.

“Imagine what Penang can do with an integrated transportation system,” he said.

The RM27bil PTMP is aimed at building a public transport system based on a five-in-one mode — taxi, bus, water taxi/ferry, cable car and LRT/monorail.

Source: TheStar.com.my

Eco World Development Group Bhd, driven by a vision to ‘create tomorrow and beyond’, is gradually transforming Penang’s skyline with unique projects.

Its Eco Terraces is taking shape in Paya Terubong on the island, so too are Eco Meadows and Eco Bloom in Bukit Tambun on the mainland.

Towards the yearend, the company will unveil the eagerly anticipated Eco Marina in Bandar Cassia on the mainland near Sultan Abdul Halim Mu’adzam Shah Bridge.

Eco World Penang general manager Khoo Teck Chong said all the projects have a verdant touch inventively crafted around different lifestyle concepts.

The RM430mil Eco Terraces, launched in mid-2015, is unique because 70% of its overall 12.79 acres are dedicated to landscaping and greenery.

These are split into five zones — The Lawn, The Arch, The Commune, The Mesa and The Trail — which surround a 33-storey residential tower of 333 units, with 40% already taken up.

“We finished The Lawn during Chinese New Year. It has open green spaces, a gazebo and small cafe that has attracted many visitors.

“Work has started on the tower’s foundations, and one can expect to see it rise within a month or two,” said Khoo.

The road in front of the project has been upgraded, while a paired road from Air Itam to Relau and an artery linking Air Itam to the Tun Dr Lim Chong Eu Expressway are being worked on.

At the RM918mil Eco Meadows, the 375 units of double-storey Northampton Terrace homes have been well-received, with all but the bumiputra units already sold out.

“Many are drawn to its stately English elegance, landscaped surroundings, security features, and fully gated and guarded concept, which is rather novel to the mainland,” Khoo said.

Piling for the terraced homes has commenced, and the company estimates completing the units ahead of schedule by early 2018.

First-time property buyers should keep a lookout for Eco Bloom, a mixed residential-commercial development located on a 4.8-acre land within Eco Meadows.

It will have 490 condominiums in a 33-storey block. They are sized at 800, 900 and 1,100sq ft, with either two or three bedrooms. Priced below RM400,000, they will be among the most affordable and lowest priced properties of its kind.

“Our surveys show that the younger generation doesn’t need big units and they prefer affordable average-sized ones.

“We cater to this need while keeping to the lifestyle luxuries Eco World properties are synonymous to,” Khoo noted.

There are 23 double-storey shoplots on the first two podium levels, sized at 22ft x 60ft for the lower ones and 22ft x 68ft for those on the upper level.

“We will carefully select potential tenants to ensure an optimum mix of retailers.

“We’ll also play matchmaker and help pair shop lot owners with suitable tenants,” he added.

Shop lot owners who wish to run their own enterprises, buy then lease out or apply for franchise licences are also eligible for Eco World’s newly launched Pioneer, Investment and Franchising Grants to help offset their start-up costs.

These grants provide them with funding of up to 3.5% of the property’s purchase price.

It will be disbursed monthly for three to 12 months after commencement of their businesses, subject to certain thresholds and conditions.

Facing Eco Bloom’s commercial lots will be the 23,000sq ft Bloom Garden for al fresco dining and residents’ leisure needs.

Khoo said the property would be launched by the middle of this year, with a targeted mid-2019 completion.

The Eco Marina at Bandar Cassia — along the Sungai Jawi rivermouth where the Pulau Aman Jetty is — has entered the final planning stage and would be unveiled by the third quarter this year.

Among the planned components in the 470-acre and RM10bil project will be an 18-hole international golf course with mixed residential and commercial components on rolling hills by the water.

“It will be the first integrated waterfront development on the mainland and perhaps the only one in Penang built on solid and not reclaimed land.

“The hill at its back affords good feng shui with a waterfront view of both Penang’s bridges,” said Khoo.

The company also launched its Eco World Home Plus campaign in partnership with OCBC Bank, offering easy entry for home buyers, which runs until the end of September.

For details, visit EcoWorld Galleries@Macalister Road (04-2292255) and Eco Terraces in Jalan Paya Terubong (04-8275522) or Eco Meadows in Jalan Paboi (04-5102255).

Source; TheStar.com.my

* UPDATE: Design Village grand opening – 23 November 2016 @ 6PM *

Design Village Penang – the northern state’s first premium outlet mall – aims to open by this November in time for the school holidays, said its general manager Tay Ai Leen.

This is slightly earlier than its previous targeted launch date of around Christmas this year.

The mall’s operator PE Land (Penang) Sdn Bhd is confident that international brands will want to have a presence at the mall – coming up at Batu Kawan on Penang’s mainland – as it will be the only premium outlet mall in Peninsular Malaysia’s northern corridor, she told TheEdgeProperty.com.

PE Land is also the owner and operator of The Spring shopping mall which is based in Kuching, Sarawak.

According to her, Design Village is expected to provide a unique experiential retail journey and attractive offerings of premium brands at discounted prices for shoppers.

The 400,000 sq ft Design Village Penang is part of a 40-acre mixed-used development that will include a hotel, serviced apartments and high-end condominiums.

The entire development will have a total estimated gross development value (GDV) of RM1 billion, while Design Village itself will have an estimated GDV of between RM200 million and RM300 million.

“The residential and hotel components will complement Design Village’s development, making it a place for living and leisure. The residential units will be linked to Design Village and a linear park, and the hotel will provide affordable accommodation to tourists,” Tay added.

However, she did not disclose more details on the residential and hotel developments as the company’s current focus is on the premium outlet mall.

According to data from the Penang Tourism Development Committee, the state is expecting more than six million tourists to Penang this year. It had recorded 6.25 million tourist arrivals in 2015.

On the market outlook, Tay noted that Penang’s property market is spearheaded by strong foreign direct investment results and strong international support.

“The second Penang bridge as well as a list of developments in Batu Kawan, including a theme park, golf course, mid-to-high end housing, IKEA, universities and medical centres, will be growth catalysts for Batu Kawan and attract tourists here,” she said.

Source: TheEdgeProperty.com.my

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