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First LRT project in Penang next year

Property News/ 16 April 2015 28 comments

Penang is set to get its maiden LRT project – a 17.5km elevated stretch linking Komtar with the Penang International Airport.

With construction slated to begin next year, the RM4.5bil project is part of a package of solutions for an island that has long been choking on its traffic.

The LRT project – expected to be awarded in June – will mark the realisation of the long-awaited implementation of the RM27bil Penang Transport Master Plan (PTMP), which also includes a 25km expressway linking Bayan Lepas and Tanjung Bungah.

According to reliable sources, Gamuda Bhd, IJM Corp Bhd, and a Chinese company have been shortlisted to undertake the projects, the bulk of which would be funded through land reclamation rights in the state.

The LRT and new expressway will be built using the Project Delivery Partner (PDP) concept, where the PDP will step in to resolve problems should parts of the construction fail to meet construction criteria.

In Penang’s case, should either one of the Malaysian companies get the award, it would have to partner with the Chinese company, especially in the construction of the LRT project.

It would be likewise should the Chinese company win the contract.

Six consortia, including three foreign-Malaysian partnerships as well as three Malaysian public listed companies, have put in their bids following Penang’s invitation last August to qualified companies to serve as the PDP for the PTMP.

The payoff for building the LRT project is the right to reclaim 1,618ha at either the southern part of the island, of which about 485ha will be used for the future expansion of the airport and to expand the Free Industrial Zone, or at a 607ha stretch between the Penang Bridge and the mouth of Sungai Pinang, an area popularly known as the Middle Bank.

Penang Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow had said the appointed PDP must be a reliable partner to guarantee the success of the projects.

“They will have to oversee all the projects estimated at RM27bil. The costs cover highway infrastructure (RM16bil) and public transport (RM9bil), while the institutional costs amount to RM905mil,” he said, adding that Penang alone would foot some RM10bil of the total cost.

In a subsequent interview, Chow said the LRT line – which will be supported by a revamped stage bus system and trams – would be a priority, with completion targeted for five to six years.

In return for their role in realising the state transport master plan, the Chinese company will get to reclaim about 566ha in Seberang Prai, of which 161.8ha is located near the North Butterworth Container Terminal and 404ha near Bagan.

It is learnt that it will take a year to get necessary approvals for the reclamation works,

Chow said some of the projects would fall under the jurisdiction of the Federal Government.

“The RM10bil allocation from the state does not include the RM6.3bil for the undersea tunnel and three expressway projects,” he said.

The 6.5km road tunnel is planned to run from Gurney Drive to Bagan Ajam in Butterworth. The expressways include a 4.2km bypass from Persiaran Gurney to Persiaran Tun Dr Lim Chong Eu, a 4.6km expressway and by-pass from Tun Dr Lim Chong Eu Expressway to Bandar Baru Air Itam and a four-lane 12km road linking Tanjung Bungah with Teluk Bahang.

Source: TheStar.com.my

Indicative Station Locations

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Penang Sky Cab

Property News/ 15 April 2015 15 comments

Penang Sky Cab is the proposed Penang Cable Car which links Penang Sentral at Butterworth to Gat Leboh Nordin on the island. The 3-KM proposed cable car project is a collaboration between Penang Sentral and the Penang State Government.

Chief Minister Lim Guan Eng revealed the project to members of the press today at Komtar. He said, “We have been working hard on this project since last year and consulted all the parties involved including the Penang Port Commission. For the public benefit, we want to work with every party to improve the public transport system as it has synergistic benefits for all.”

“This is like a 5-in-1 public transport as the Sky Cab will connect the people to the mainland train, taxi, buses and ferry services. This will be a convenient, fast and safe mode of transport,” he added.

If all goes well, Penang will have the Sky Cab ready by 2018.

Source: Buletin Mutiara

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Edge 360°

Edge 360°, an executive condominium development by Amanvida Development Sdn. Bhd. in Bukit Dumbar, Penang. It is only mere minutes drive to Tesco hypermarket, about 5 minutes away from Penang bridge.

This 24-storey tower comprises 76 residential units with size ranging from 1,273 sq.ft. onwards. There are 5 units on each floor and comes with at least two parking bays.

* This project was formally known as Quattro Light *

Property Project : Edge 360°
Location : Bukit Dumbar, Penang
Property Type : Executive Condominium
Built-up Area : 1,273 sq.ft.  – 1,449 sq.ft.
Indicative Price: RM600 psf
Total Units : 76
Land Tenure: Freehold
Developer : Amanvida Development Sdn. Bhd.

Register your interest here

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

Location Map:

Contributed by reader (Update 18/07/15)

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Development with a vision

Property News/ 14 April 2015 11 comments

Property hunters are in for a bargain with hard-to-resist deals by Aspen Group in the upcoming Home & Property Investment Fair by iProperty.com at the Kuala Lumpur Convention Centre (KLCC).

During the fair from Friday to April 19, the Penang-based property development and real estate investment group will showcase its gated and guarded commercial precinct – Verve, which is the first phase of Aspen Vision City in Bandar Cassia, Batu Kawan.

Aspen Vision City is a joint venture development between Aspen Group and Ikano Pte Ltd.

Touted as the first and largest of its kind in the northern region, Verve, which utilises the High Street concept, sits across 14.1ha (35 acres) of freehold land.

It consists of 441 units of three-storey (intermediate units) and four-storey (corner units) shop offices with build-up ranging from 3,300sq ft to 12,150sq ft.

It is also the gateway to the first IKEA store in the northern region as well as a state-of-the-art regional shopping centre that will be managed by Ikano Pte Ltd.

Its aesthetic building façade is suitable for all types of business. The modern project with practical and spacious column-free layout design will also help minimise the renovation cost for tenants post completion as they will only need to renovate the interior to suit their business needs.

Each unit is equipped with a private lift for ease of access and transportation of goods to the upper floors.

Property buyers will enjoy four years of defect liability period while there will be security guards on standby and 24-hour patrolling.

Verve is set to be the region’s largest commercial hub and central business district and it is also supported by comprehensive infrastructure, meticulously planned development components, strategic location and excellent accessibility that caters to the demand by the masses.

It is currently under the preview stage where interested buyers can select their preferred unit and place their booking with the company.

Strategically positioned at the landing point of Sultan Abdul Halim Mu’adzam Shah Bridge, Verve is easily linked to and within close proximity of the island as well as numerous townships on the mainland and neighbouring states.

With a gross development value of RM723mil, work on Phase 1 of Verve is estimated to commence in the fourth quarter of 2015 and it will be completed in 2018 with its overall development to be completed in 2025.

Owners can also be rest assured that Batu Kawan is the next metropolis crafted by the Penang government with clearly demarcated zones including residential, commercial, leisure, tourism, industrial, education, hospitals and sport and recreational.

Attractive indicative price for the Verve project starts from RM1.36mil, which is about RM412 per sq ft.

Early bird buyers will get an attractive deal from the developer during this exhibition. Interested investors are urged to seek out more information from Aspen Group. Visit Aspen Group during the fair at KLCC Hall 2, booth 101-116, from 11am to 8pm to find out more about the deals.

Source: StarProperty.my

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Permai Villa

Bukit Mertajam/ 13 April 2015 11 comments

Permai Villa, a gated and guarded development by Potensi Utama Sdn. Bhd. in Kota Permai, Bukit Mertajam. Strategically located next to Taman Permai Jaya, easily accessible via Jalan Bukit Minyak. It’s about 10 minutes drive to AEON Mall in Alma, 20 minutes drive to Penang bridge.

This development comprises 41 units of 3-storey terrace and 8 units of semi-detached houses.

Project Name : Permai Villa
Location : Kota Permai, Bukit Mertajam, Penang
Property Type : 3-storey Terrace & Semi-detached
Land Tenure: Freehold
Total Units: 41 (Terrace), 8 (Semi-D)
Indicative Price: RM588,000 onwards
Developer : Potensi Utama Sdn. Bhd.

Location Map:

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