A total of RM220mil will be spent on the new KDU Penang University College campus in Batu Kawan.

Paramount Corporation Bhd Group chairman and executive director Datuk Teo Chiang Quan (pic) said the first phase on a 4ha site would be completed in 2018.

“There would be another phase of commercial and residential components on a 8ha site to support the campus.

“The entire project is known as ‘utropolis’ coined from the words university and metropolis,” he added after the ground-breaking ceremony of the new campus by Penang Chief Minister Lim Guan Eng.

Also present were Paramount Corp chief executive officer (CEO) Jeffrey Chew, Paramount Education CEO Datin Teh Geok Lian, and KDU Penang University College vice-chancellor Dr Chong Beng Keok.

Teo said when completed, the “utropolis” would be able to accommodate up to 5,000 students.

“It would feature a green campus with state-of-the-art facilities that are in line with the requirements of a university college, and include a myriad of informal activity areas designed to promote active discussions and learning beyond the classrooms,” he added.

On the new campus, Dr Chong said the programmes offered would focus on skills development and the spirit of entrepreneurship.

“Our aim is to prepare job-ready graduates especially in the accounting, banking and finance, and engineering sectors,” he added.

The Batu Kawan campus is modelled after the “utropolis” in Glenmarie, Shah Alam, Selangor.

Meanwhile, Teh said that KDU Penang boasted a high record of employability with more than 90% of its graduates finding jobs within six months of graduation. She added that the new campus would be equipped with energy-saving features for effective consumption.

Source: TheStar.com.my

Gurney Wharf post recorded 1.7K shares/likes in less than 2 days!

The Gurney Wharf project has drawn a mixed reaction from the public.

While some have given the thumbs up to the mammoth project, others remain cautious on the impact it would cause to the environment.

Avid jogger and lawyer David Hoon said the project would definitely be a boon for joggers as the makeover would rid the stench emanating from the sea during low tide.

“The air here would be fresher. I hope the project would be people-centric and ideal for recreation for the whole family rather than a commercial one,” added Hoon, 56.

On Tuesday, Chief Minister Lim Guan Eng announced the massive recreational waterfront project, which would include a seaside food and beverage area, water gardens, beach and coastal groves spanning some 1.5km of shoreline.

The distance from the existing Gurney Drive to Gurney Wharf varies between 230m and 140m out in the sea from the Jalan Pemenang and Lorong Burma underpasses respectively.

Briton Alan Pratt, a marine consultant, said the government should just go ahead with the project rather than wait for feedback.

“I have been coming back to Penang every year and this is my favourite spot for jogging.

“However, you can see the presence of rubbish and mud at low tide. This vibrant waterfront project would address the issue once and for all,” added the 58-year-old.

Restaurant owner Albert Fong welcomed the wharf project as it would transform the promenade which he claimed had been “neglected for a long time”.

Project supervisor Herman Poh, 41, said he was impressed by the concept master plan prepared by award-winning international consultants.

“If you have been to Singapore, then you will realise one of the components of Gurney Wharf is similar to Gardens by the Bay.

“The whole Gurney Wharf will surely inject us with something different that is suitable for people of all ages,” he said when met at the exhibition booth meant to collect public feedback on the project in Komtar yesterday.

However, a mall operator has remained cautious of the proposed development especially during the construction period.

“During this time, it may affect the traffic flow and disrupt the businesses here.

“However, if the construction is out at sea as reported, the impact would be minimal.

“The development would bring in a lot of benefits in the long run,” said Hunza Properties executive director Lily Tan.

The Consumers Association of Penang (CAP) said the rehabilitation of Gurney Drive was welcome but sourcing of materials including sand and rocks for the reclamation would be a major issue of concern.

“Creating a park in the sea actually causes a devastating impact on the environment elsewhere owing to quarrying and sand-mining or dredging activities.

“This waterfront development is basically pieces of artificial nature,” it said in a statement.

CAP also said that maintaining the artificial beach was going to be expensive in the years to come if the foreshore continues to be sedimented.

Tanjung Tokong resident Fazilah Wallen, 51, said she had some reservations about the Gurney foreshore reclamation totalling 53ha.

She said she was positive about the iconic Gurney Wharf project but it would occupy only 24ha of the land.

“I was told the balance of 29ha would be Government reserve land. What will happen to this land?

“Will high-rise projects be allowed on this land which only benefits the rich and foreigners?” she asked.

The public can give views on the proposed master plan by submitting them in the feedback box at the exhibition area in front of the Popular Bookstore in Komtar today.

The exhibition will then move to Gurney Plaza from tomorrow until March 6.

* Read more about Gurney Wharf *

Source: TheStar.com.my

Quin, an upcoming mixed development by BSG Property in Bukit Gambier, Penang. It is part of the master planned development located on the quarry land along Jalan Bukit Gambier, adjacent to Minden Heights.

The upcoming launch will consists of a 44-storey condominium with 487 residential units and 22 units of shop offices. Located next to i-Regency Condominium.

Unit Types (Condo)

• 3 Bedroom (~1,110 sq.ft.)
• 3+1 Bedroom (~1,680 sq.ft.)
• Penthouse (~2,300 sq.ft.)

More details to be available upon project launch.

Project Name : Quin
Location : Bukit Gambier, Penang
Property Type : Mixed development
Built-up Area: 1,110 sq.ft. – 2,300 sq.ft.
Total Units: 487 (condominium), 22 (shop office)
Indicative Price : RM700 psf onward
Developer : BSG Property

Location Map:

The second tower of The Tamarind executive apartments in Penang by Eastern & Oriental Bhd (E & O) is 80% sold since its launch in late-2015, the group said in a press statement.

The Tamarind comprises two towers, which sit on a seven-acre plot of freehold land — with 552 units that have built-ups from 1,042 sq ft and priced from RM660 per sq ft.

A typical unit features three bedrooms and two bathrooms, designed to cater to professionals with young families, said the developer.

The project is part of the master plan development of Seri Tanjung Pinang (STP).

Meanwhile, all 22 units of the Andorra Skyloft Terraces 3-storey houses, which is also part of the STP, are reserved.

“The three-storey Andorra is designed for larger families with private elevators to encourage multi-generational living,” said E&O finance director Kok Meng Chow (pictured, right).

The built-ups range from 5,262 sq ft for an intermediate unit to 6,540 sq ft for a corner units, with prices starting from RM3.6 million.

“It is encouraging to see the good response to the Tamarind and Andorra, despite the soft market, which cater to different market segments where one is strata titled and the other landed, bearing different price points,” she said.

“The market is still receptive to the right product sited at good locations, backed by reputable developers,” she added.

With STP1 nearing development completion, E&O is moving on to the second phase of STP (STP2) comprising 740-acres of land to be reclaimed off the initial phase, the group noted.

The developer will install fencing of about 2km along the landslide perimeter of STP2 and Gurney Drive foreshore reclamation for public safety.

According to Kok, E&O already has the key compliance and regulatory approvals for STP2.

These include the approval of the project’s Detailed Environmental Impact Assessment (DEIA) study by the Federal Department of Environment, endorsement of the STP2 masterplan and granting of the Planning Permission for STP2 reclamation works by the Penang state authorities.

Commenting on E&O’s other projects, Kok said they have started private previews of the second tranche of Avira Garden Terraces in Medini Iskandar.

“We are looking forward to a build-up in interest as we are intensifying our marketing efforts to reach out and include the international segment as well,” she noted.

Source: TheEdgeProperty.com.my

Penang continues to lure investors to her shores

From her early day as a straits settlement Penang’s idyllic charm has drawn the interest of locals and foreigners. Penang’s successful embracing of development while retaining her heritage and traditions through the careful preservation of people’s way of life, pre-war architecture and historical sites is well appreciated.  Penang is one of Malaysia’s most developed and economically significant states. Its comprehensive infrastructure supports multinational corporations, educational institutions, medical centres, manufacturing hubs and a vibrant hospitality industry driven primarily by tourists from all over the world.

Residential and commercial property market continues to thrive

Despite the softening of the property market, Penang has managed to sustain a high level of activity in both the residential and commercial development sectors. Early this year Datuk Lee Kah Choon, Director at invest Penang, announced that Penang will see RM5 billion worth of investments coming into the state in 2015 from four multinational corporations (MNCs) involved in electronic-based manufacturing activities. A major infrastructural development is the state’s maiden LRT project, a 17.5km elevated stretch linking Komtar with the Penang International Airport. Construction of the project is to commence in 2016 and will see the initial implementation of the RM27 billion Penang Transport Master Plan (PTMP), which also includes a 25km expressway linking Bayan Lepas and Tanjung Bungah. The state government also recently confirmed reports that it would introduce trams as part of the PTMP within the Georgetown Heritage Zone which will only add to Penang’s charm and boost its tourism industry.

Property prices in Penang began showing a notable increase in the mid-2000s with areas on the Island, particularly Georgetown experiencing the greatest appreciation. This year a slight setback is being seen on the island with fewer residential property launches due to the growing shortage of land and a challenging property market environment. It is now Seberang Prai that is drawing the attention of developers. The recently opened 24-km second bridge connecting Batu Maung on the island and Batu Kawan in South of Seberang Prai has seen an increase in development on both ends of the bridge. Batu Kawan is the site for a premium retail outlet known as Penang Designer Village. The RM1 billion massive project will be headlined by a regional integrated shopping haven anchored by IKEA and include a mixed development of residences, offices, medical facilities, a 20-acre park, an international school, standalone retail outlets and an integrated central transportation hub for Seberang Perai.

Penang’s tourism industry has been a primary catalyst of its growth. Ten new hotels, which are currently under construction, are set to open for business by the end of 2015 to cater to its growing numbers of local and international tourists. In June, Hilton Worldwide announced that it will open the country’s first DoubleTree Resort in the Batu Ferringhi hospitality belt. One of the main attractions of the hotel will be the introduction of Malaysia’s first teddy bear themed museum and gallery — Teddyville — located within the building itself.

Mega projects in the pipeline

Another mega project that has come under much spotlight is the Penang’s Undersea Tunnel, a 6.5km tunnel linking Gurney Drive on the island and Bagan Ajam on the mainland. The proposed undersea tunnel which will be the third link between Penang and the mainland will not only reduce traffic congestion, but is expected to spur economic growth in Seberang Perai Utara. Although the project has drawn some criticism from the public, the state government is confident that it will be a game changer for northern Seberang Perai residents and the overall development of the island.

Butterworth is also a recipient of Khazanah Nasional’s Think City Grant which is a community based urban regeneration initiative. Recipients of the award  will carry out joint projects to improve living spaces and public amenities and work on a wide range of projects involving arts, heritage, culture, environment and economic resilience.   The core area designated for regeneration in Butterworth covers three linked roads – Jalan Bagan Luar, Jalan Jeti Lama and Jalan Telaga Air.

Conclusion

Despite the many economic opportunities accorded by market centres such as the capital city of Kuala Lumpur and the southern corridor of Iskandar, Penang with its golden beaches, rich cultural heritage, a multi-ethnic population and a thriving commercial landscape continues to present multiple opportunities for growth.

(This article was written on October 2015)

Reference: iProperty Focus