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Gurney Wharf – The New Seafront Public Park

gurney-wharf-aerial-view-1

Plans for new Gurney Wharf public space unveiled

Penangites were today given a preview of the new seafront public park planned for the Gurney Drive foreshore. Spanning close to 60 acres, this water-fronting public recreation area called Gurney Wharf is a Penang State Government initiative.

Gurney Wharf will be created on land to be reclaimed by Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of premier lifestyle property developer Eastern & Oriental Berhad (E&O).

The proposed concept masterplan for Gurney Wharf was articulated through a series of curated images, photographs and illustrations displayed at a public exhiition themed “My Gurney Wharf” at a popular retail mall here.

In conjunction with the exhibition, a press conference led by Penang Chief Minister Y.A.B. Lim Guan Eng together with Penang State Executive Councillor and Local Government, Traffic Management and Environment Committee Chairman YB Chow Kon Yeow was held on the same day. Also present at the press conference were State Assemblywoman for Pulau Tikus, YB Yap Soo Huey, and Member of Parliament for Bukit Bendera, YB Zairil Khir Johari.

“Acknowledging the importance of Gurney Drive and the emotional attachment it brings forth in the hearts and minds of Penangites, the State is proud to propose a masterplan concept to create a new iconic waterfront destination for Penang, for the benefit of the people of Penang, and one that Penangites would be proud to call their own,” said Lim.

Lim commended E&O for the Group’s initiative in engaging award-winning international consultants at its own cost to prepare the proposed masterplan concept. The consultants—GDP Architects for the overall masterplan, Grant Associates for landscaping and Jerde for retail F&B—are highly acclaimed with an impressive portfolio that includes the Aga Khan-award winning Universiti Teknologi Malaysia (GDP), Gardens by the Bay in Singapore (Grant) and Roppongi Hills, Japan (Jerde).

“Drawing inspiration from some of the world’s best public spaces we aspire to create a spacious, multi-functional public park-in-the-city that is international in standard yet one hundred per cent Penang in spirit.”

Chow added that, “In creating this exemplar public park, we are adopting a people-centric approach to ensure that the outcome is more than just a well-designed physical space. It will be where Penangites can fully enjoy the island’s sea frontage, where communities gather for wholesome outdoor activities and most importantly, where pride of place and a sense of belonging is fostered.

The proposed Gurney Wharf concept masterplan encompasses four distinct character areas: Seaside Retail F&B, Water Gardens, Beach and Coastal Grove.
The Seaside Retail F&B celebrates Penang’s vibrant seafront brought to life by elements such as a waterfronting public promenade, seafront dining facilities including the island’s famed hawker fare and a pier walk.

The Water Gardens area will be defined by lush gardens, ponds and wetlands with its most distinctive feature being landscaped water gardens with innovative storm water filtration systems. Modelled after Singapore’s success with this at Gardens on the Bay, this is a pioneering system in Malaysia which is aesthetically outstanding as it is functional.

Chow said with the Beach area, Penangites would gain greater access to the waterfront area that includes a public beach as well as a public promenade. “Penangites will have access to nearly 400 meters of specially-created sandy beach which is literally, a stroll through the park,” he said.
Within the Coastal Grove, Chow said there would be a skate park for teens and youth, not far from the casuarinas lining the present Gurney Drive. Chow added, “The existing casuarinas are a signature of Gurney Drive and will be mindfully preserved.”

Lim rounded up by saying “In enabling easy access to the waterfront for everybody, the proposed concept masterplan incorporates two pedestrian retail underpasses with direct access from Pulau Tikus. Conveniences such as underpass lifts and escalators, separate pedestrian walkways and cycling paths as well as ramps for wheelchairs and strollers have also be included in the design. There will also be close to 1500 car park bays above and below ground level.

In compliance with regulatory requirements to ensure public safety, fencing would have to be built along the perimeter of the development site prior to commencement of works. Fencing works is anticipated to start in end-February.”

Chow concluded by saying “The anti-climb fencing made of mesh material will be installed along the stretch of the existing Gurney Drive from the Jalan Pangkor end right up to the Gurney Drive roundabout. As the fencing will be secured on the far side of the existing seawall, the public will have continued access to the Gurney Drive promenade for their daily activities.

As an added measure, the fencing would be installed with planter boxes to create an aesthetically comfortable public place while the mesh material ensures unhindered flow of sea breeze into Gurney Drive.

Update – Jan 2018 (submitted by reader)

gurney-wharf-update-jan-2018

 

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The Butterworth Action Plan

Property News/ 23 February 2016 No comments

bwapBuilding a better Butterworth

Four more areas in Butterworth will be restored under the New Butterworth Image Plan following the extension of the partnership between the Seberang Prai Municipal Council (MPSP) and Think City.

A Memorandum of Under-standing (MoU) was signed between both parties for a five-year partnership from this year till 2020.

Think City executive director Hamdan Abdul Majeed said the partnership was a continued effort to implement more programmes.

“Following a successful partnership in 2014 and last year, we will continue working together with MPSP to improve Pekan Lama, Sungai Prai, Penang Sentral and Butterworth Waterfront,” said Hamdan.

“This is an extension of our work in Penang, which started in George Town.

“We see potential growth in both George Town and Butterworth and this is in line with Think City’s intent to support the rejuvenation of heritage sites.

“In Butterworth, we will be supporting urban renewal works through public participation.

“We will also be assisting MPSP in providing technical expertise, bringing stakeholders together for engagement and working with them to secure crowd funding.

“The public places that have been identified include the Dewan Ria community facilities, Old Public Market, Jeti Lama historic quarters and Taman Pantai.

“The partnership will also look into realising potential land use, celebrating historic Butterworth and helping to make it a vibrant and liveable city.”

Hamdan was speaking after the signing of the MoU yesterday with MPSP president Datuk Maimunah Mohd Sharif, who represented the council.

The signing was witnessed by Chief Minister Lim Guan Eng.

Maimunah said the collaboration between Think City and MPSP last year saw the first ever international arts festival in Butterworth — the Butterworth Fringe Festival which attracted over 18,000 people.

“We also held the Urban XChange programme by Hin Art Gallery resulting in three new art installations in Butterworth.

“They are the Star by Jun, the caretaker of Pak Thai by Vhils and the 3D Mandala mural by Nafir.

“Six Seberang Prai Stories lecture series were also organised in a joint effort with the Penang Heritage Trust at various places in Butter-worth,” Maimunah said after the signing.

At a press conference later, Hamdan urged the public, including those with property and heritage buildings in the targeted vicinity, to apply for funds from Think City’s grant programme to help restore the old Butterworth town.

“The deadline for applications is the end of this month.

“We hope that by April, the funds will be ready,” he said.

He said interested applicants could log on to thinkcity.com.my to apply.

(This article was published on 09/01/2016)

Source: TheStar.com.my

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UPCOMING: Bukit Mertajam / Doublemax Development

Bukit Mertajam/ 22 February 2016 45 comments

upcoming-jalan-betek-manis-doublemax

A proposed gated and guarded development by Doublemax Development Sdn. Bhd. in Bukit Mertajam. It is strategically located along Jalan Betek Manis, easily accessible the bustling Jalan Song Ban Kheng. Just a stone’s throw away from SJK(C) Keow Kuang Primary School.

This development comprises 54 units of 2-storey terrace houses, 1 unit of 2-storey bungalow and a resident clubhouse.

More details to be available upon project launch.

Project Name : (to be confirmed)
Location : Bukit Mertajam, Penang
Property Type : Gated & guarded residential
Total Units: 54 (terrace), 1 (bungalow)
Indicative Price : (to be confirmed)
Developer : Doublemax 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.

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The Top @ Komtar

Property News/ 20 February 2016 1 comment

the-top-komtarIs Komtar OWG’s next catalyst?

Only World Group Holdings Bhd (OWG) which operates food outlets, water amusement parks, retail service outlets and other family attractions could bring in an average of RM17.5mil in sales per annum once its completes the refurbishment of the Komtar tower in Penang this year.

That estimate is based on ticket prices for the themed attractions it will introduce within the tower, which will range between RM10 and RM60 per ticket or an average of RM35 per ticket and a total of 500,000 visitors per annum.

Founder Datuk Seri Richard Koh Cheng Keong, who gave the estimate says the group, tasked to revive one of the island’s most famous landmarks, hopes to introduce more than eight family attractions as well as food and beverage (F&B) outlets.

Among the key attractions is the Jurassic Research Centre which will showcase a combination of entertainment and education via a variety “informative exhibits and displays.”

“There will also be the 5D Sea Explorer, where technology meets underwater and the 7D Planetarium Dome which will be an intensively visual experience,” Koh tells StarBizWeek.

Although Koh did not say when the attractions will be ready, CIMB Research, which tracks the company, notes that all components including the themed attractions, an observation deck and an “interactive” lift will be launched together as a single coherent destination by April this year.

Assuming a lower average price of RM30 per ticket and a pre-tax margin of 30%,the themed attractions could lift the company’s FY16-FY18 earnings per share (EPS) by 10%-25%, the research outfits notes.

“The combined upside potential from higher ticket prices and the attractions could lift our FY16-18F EPS by 16% to 71%, which could then lift our share price valuation to RM6.70,” it told clients in a Jan 13 note.

OWG yesterday reported a net profit of RM5.33mil on sales of RM28.35mil for its second quarter ended Dec 31, 2015.

Its share price last traded at RM2.46 yesterday, up 5% in a broader market which finished lower.

“Due to the delicate structure of Komtar, the refurbishment and renovation have to be done with precaution,” Koh says.

OWG was listed on Bursa Malaysia in late 2014 at an issue price of 88 sen. It raised close to RM50mil via that initial public offering.

In December 2012, the company won a tender to revitalise the 65-storey iconic Komtar tower, a project mooted by the state government.

Its responsibility was initially to transform five levels of the tower namely levels five, 59, 60, 64 and 65 which have a net lettable area (NLA) of 60,000 sq ft.

The original NLA had later doubled, with the extra area coming from an additional floor (Level 66) as well as new space on levels three, four, five, and six.

OWG has said that it intends to operate most of the F&B outlets, which would include a sky restaurant as well as other outlets there via its own brands or third party operators.

Its target market is primarily tourists.

In exchange for the company undertaking the project, OWG has been granted a lease to operate the attractions and F&B outlets by the Penang Development Corpo for 45 years with an option to renew for 15 more years.

Koh, in his personal capacity, has had experience in developing theme parks such as the Resorts World Genting, Universal Studios Singapore and Sunway Lagoon.

Moving forward, he says among the challenges he foresees for OWG is the identification of new investment opportunities in the current economic climate that will be able to bring in healthy margins to supplement the firm’s existing business model.

According to him, OWG has a unique business model compared with other F&B operators and the company intends to “actively” look out for organic growth opportunities to complement its future growth trajectory.

“With our continued growth, we believe we can increase our margins and enhance our shareholders value.”

As of Dec 31, 2015, the company had cash and cash equivalents of RM18.32mil, with total borrowings amounting to RM42.99mil.

Source: TheStar.com.my

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Penang to get new centralised transport hub

Property News/ 20 February 2016 2 comments

pf_act_transport_penang_sentral_2Thousands of commuters are expected to benefit when the Urban Transformation Centre (UTC) is incorporated into the new Penang Sentral Transport Hub Terminal next year.

Northern Corridor Economic Region special adviser to the Prime Minister, Datuk Zainal Abidin Osman said the plan to set up the UTC at the terminal was to benefit the commuters in the area.

“Once the 10-storey terminal is completed, there will be a high volume of commuters using the train, ferry, bus and taxi services.

“With the UTC in the building, they can access government services under one roof.

“Since the terminal is also in Butterworth town, it would also provide good access for residents there,” he said yesterday.

Last year, the 10 UTCs in the country attracted some 11.5 million Malaysians. The 11th UTC was opened earlier this month in Sungai Petani, Kedah.

Under the National Blue Ocean Strategy initiative, the UTC houses commercial outlets and various state and federal government agencies.

Malaysian Resources Corporation Bhd (MRCB) executive vice-president Datuk Ishak Mohamed, who was also present to accompany Zainal in the site tour, said work on the project was going smoothly.

“So far, the project is about 25% complete and everything is on track.

“We expect it to be completed on schedule by early next year,” he said.

Penang Sentral Sdn Bhd, which was specially established to manage and administer the Penang Sentral project, is a wholly owned subsidiary of MRCB.

Source: TheStar.com.my

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