Several roads in Kampung Pisang, Air Itam are undergoing road widening works to complement the upcoming 4.6km bypass connecting the Tun Dr Lim Chong Eu Expressway with Bandar Baru Air Itam.

The bypass, scheduled for completion in 2019, is part of a comprehensive package of four traffic management projects totalling RM6.3bil, which includes the 6.5km undersea tunnel connecting Gurney Drive on the island to Butterworth’s Bagan Ajam. The tunnel’s completion is scheduled by 2025.

The other two projects are the 12km Tanjung Bungah-Teluk Bahang paired road (scheduled to be ready by 2018), followed by the 4.2km bypass connecting Gurney Drive to Tun Dr Lim Chong Eu Expressway, which is due to be finished in 2022.

Air Itam assemblyman Wong Hon Wai said the bypass would be an elevated highway from Kampung Pisang (next to Sunshine Farlim) cutting across Jalan Thean Teik and Lebuhraya Thean Teik to Tun Dr Lim Chong Eu Expressway.

“The bypass project is scheduled to start in June this year,” Wong told The Star in Komtar yesterday.

Wong said that the road widening work at several roads in Kampung Pisang are done in stages.

“Some the roads affected in the road widening process are Jalan Kampung Pisang, Jalan Zoo and Jalan Pisang Embun.

“The widening of these roads will help support the traffic flow when the bypass is completed,” he added.

Wong said that Zoo Road is divided into three unconnected parts – Zoo Road off Jalan Air Itam, Zoo Road in Kampung Pisang and Zoo Road in Bandar Baru Air Itam.

“Zoo Road off Jalan Air Itam is disconnected from the Zoo Road in Kampung Pisang by Sungai Air Itam and some houses.

“We plan to build a bridge between Zoo Road off Jalan Air Itam and the Zoo Road in Kampung Pisang, so that those staying in Jalan Air Itam, Reservoir Garden and the nearby areas can be easily connected to Kampung Pisang and they can also use the bypass to Tun Dr Lim Chong Eu Expressway, and vice-versa.

“Road users no longer need to use the longer route to reach the bypass if the two parts of the Zoo Road are connected,” he said.

Wong also said that he would be discussing the plan with residents in Zoo Road after the Chinese New Year celebration.

Source: TheStar.com.my

Greenwish Garden, an upcoming residential development in Batu Maung, Penang. It is strategically located within Taman Iping, adjacent to Schenker Logistic.

This project was acquired from Phoenix Residence by PLB Homes few months ago. It comprises 32 units of 2-storey semi-detached (Type A & B) and 2 units of bungalow houses.

More details to be available soon.

Project Name: Greenwish Garden
Property Location : Batu Maung, Penang
Property Type : 2-Storey Semi-Detached, Bungalow
Land Tenure : Freehold
Built-up Area: 28′ x 50′
Total Units: 32 (semi-d), 2 (bungalow)
Indicative Price: (to be confirmed)
Developer : Phoenix Residences Sdn. Bhd. (PLB Homes)

Location Map:

Penang International Commercial City (PICC), a RM10bil mixed development by Hunza Properties Bhd. in Bayan Baru. It is strategically located along Jalan Tun Dr. Awang, just a stone’s throws way from sPICE.

This development will be built in three phases and planned for completion by 2026. It comprises a shopping mall, medical centre, a BPO tower, a hotel, and 1,792 units of serviced apartments and apartments.

The first phase is scheduled for completion in 2021. The second and third phases would see the development of more apartments, a hotel and a college. The project is located on a 43.36 acre land. It will have a gross floor area of 9.4 million sq ft.

• Phase 1A: 58-storey condominium (Blk A:394, Blk B:452 units)
• Phase 1B: 42-storey condominium (Blk A:324, Blk B:300 units)
• Phase 2A: 54-storey commercial building (offices and hotel)
• Phase 2B: 56-storey serviced residence (Blk A:672, B:714, C:688 units)
• Phase 3: Future development

Project Name: Penang International Commercial City
Location: Bayan Baru, Penang
Property Type: Mixed development
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Total Units: 1,476 (Phase 1)
Developer: Hunza Properties Bhd.

Location Map:

The slow property market has not stopped developers from planning projects ahead.

One of them is Hunza Properties Bhd that is ready to implement the first phase of its RM10bil mixed-development project in Bayan Baru in 2017.

This follows the issuance of completion and compliance certificate for its 690 units of low-cost housing to relocate the squatters.

Group managing director Khor Siang Gin (pic) told StarBiz that the group had already submitted the rezoning plans to the local authorities.

He said Hunza was now working on the plans related to technical aspect, which will be submitted in the second half of 2016.

“The proposed name of the project is Penang International Commercial City, which we expect to commence work in mid-2017.

“There will be serviced apartment and apartment towers, two hotels, a business-process outsourcing (BPO) tower, a medical centre, shopping mall, and 15,000 sheltered car-parking bays.

“There will be three phases for the project, which is being planned for completion in 2026,” Khor said.

He said the first phase was expected to have a gross development value of RM5bil, comprising a shopping mall, medical centre, a BPO tower, a hotel, and serviced apartments and apartments.

“We plan to sell only the serviced apartments and apartments but not the medical centre, BPO tower and the hotel. The commercial portion, which will have a gross floor area of 3.36 million sq ft, will be kept by the group to generate long-term recurring income.

“There are 1,792 units of serviced apartments and apartments. The first phase is scheduled for completion in 2021, while the second and third phases over the next seven years,” he said.

He added that the second and third phases would see the development of more apartments, a hotel and a college. The project is located on a 43.36 acre land. It will have a gross floor area of 9.4 million sq ft.

Hunza, which is in the process of being delisted, has started its overseas roadshows to market its luxurious low-density RM600mil Alila 2 condominium project in Tanjung Bungah.

“In January, we were in Hong Kong to promote the 9.8-acre project, which has received encouraging response. We have sold some units and received registrations for some. Most of them are investing in the properties as a second home,” he said.

The group will go to Indonesia and Singapore next, according to Khor.

“The key attractions are the size of the 270 units, which have built up of between 1,900 sq ft and 3,200 sq ft at a starting price of RM790 per sq ft.

“There are also three acres of untouched hill land, which have allocated as open space for recreational activities within the development. We also spent RM12mil to landscape the project,” he added.

Khor said the group had submitted Alila 2 for the Green Building Index certification.

So far, 30% of Alila 2 has been sold.

In Bertam, Kepala Batas, the group planned to launch 250 semi-detached houses and zero-lot bungalows for the first phase on 80 acres in May.

“We will launch 786 units of zero-lot bungalows, terraced properties and low-cost high rises in the second and third phases.

“After the implementation of these projects, the group will have a further 270 acres of undeveloped land bank in Bertam.

“We have recently sold 37% of the 232 terraced units launched in October,” he said.

Hunza is in the process of being delisted from Bursa Malaysia following a corporate exercise proposed by its major shareholders.

Source: TheStar.com.my

International property consultancy firm Rahim & Co is hoping a guideline will be provided on the newly-imposed limit on sales of new homes priced up to RM300,000 for first-time home buyers.

“A clearer guideline is probably required. Developers can price a project at RM300,000 a unit but it may be a shoebox unit. In that case, the buyer still has to pay RM800 psf for a unit,” said Rahim & Co research and strategic planning director Sulaiman Akhmady during the launch of Property Market Review 2015/2016 report.

However, Rahim & Co executive chairman Tan Sri Abdul Rahim Abdul Rahman said the policy is the right move to encourage house ownership among Malaysians and discourage speculation on affordable housing.

He also said that the government’s minimal-intervention stand towards the property sector was appropriate as the segment should correct itself based on the open market and available liquidity, although the latter is one of the reasons causing the temporary market slowdown.

According to the report, there was an annual 3.5% drop in property transactions and 6.6% drop in transacted value in 1H2015.

Sulaiman AhmadAbdul Rahim expected the property market to continue to be challenging, with moderate activity in 2016.

“Property prices are still expected to rise but more marginally for the residential sector. Depending on the location and type of property, some may see price consolidation as the gap between sellers’ asking prices close towards buyers’ expected prices,” he noted.

Sulaiman also expected the office sector to remain challenging due to greater incoming supply into the market. Prices and rental rates are expected to be competitive, and the same goes to the retail sector.

“Retail sales are expected to face some tougher times, fuelling the pressure in rental rates amidst decaying consumer sentiments. The market will still remain cautious, with buyers definitely becoming more discerning in their purchases across all sectors, while expecting bargain purchases to slowly creep up in the market.”

Source: TheEdgeProperty.com.my