One Auto Hub is a 2,000,000 sq.ft. commercial development by PKT Logistic Group in Batu Kawan, Penang. If you are coming from Penang Island via Second Bridge, the development is located on the right side of the highway as you are approaching Batu Kawan toll plaza.

This development comprises a few commercial components, which includes The 12 Waves (Warehouse), The Ship Campus (University), The Lighthouse Lodge (Premium B&B), The Automotive Boulevard, Part Centre, The Mangrove Walk & Wildlife Sanctuary. One Auto Hub is slated to emerge as one of the largest automotive logistics providers in the country to cater to the needs of the automotive industry under the purview of the Northern Corridor Implementation Authority.

The 12 Waves

Claimed to be the longest warehouse in Malaysia once completed. Consists of 12 modular warehouses which are shaped to resemble waves, a rest-and-relax area for truckers and an office suite equipped with a covered solar parking. It is expected to complete by Q2 2016.

The Ship Campus (University of Hull)

Spanning 2ha, the University of Hull’s campus called “The Ship” will accommodate some 5,000 students once completed. This is the university’s first franchised branch campus outside the UK. It is expected to be ready by 2017.

University of Hull will be offering Foundation Program (Pre-U), Degree programs and Postgraduate studies in Masters Degree and PhD. These programs will commence in 2017 once the Ship Campus in Batu Kawan is operation.

Upcoming commercial development by Oriental Max Group in Bukit Tengah, Penang. It is strategically located next the group’s gated and guarded project, Central Way 2. Highly visible from the North-South Expressway.

This development comprises:

• 25-storey service apartment (391 units)
• 6-storey motel (48 units)
• 2-storey shop offices (26 units)
• Detached commercial unit with mezzanine floor (6 units)

More details and photos to be available upon project launch.

Property Project : (pending approval)
Location : Bukit Tengah, Penang
Property Type : Commercial development
Tenure : Freehold
Developer : Ocean Mix Sdn. Bhd. (Oriental Max Group)

Malaysia’s average house prices are more than four times the median income of its population, making them “seriously unaffordable”, research by Khazanah Research Institute (KRI) has revealed.

Kuala Lumpur has especially been branded as “severely unaffordable” with house prices 5.4 times higher than the median income in the capital city.

The maximum median range for housing prices compared to median income should not be more than three times the median income. But only one state in Malaysia fits the maximum median range: Malacca, where housing prices are three times higher than the median range. The rest are rated between “moderately” and “severely” unaffordable.

Terengganu is the most severely unaffordable of all the states, with median multiple affordability standing at 5.5.

In Kuala Lumpur, the median house price is now RM490,000 per unit, almost double the median house price ranges in all other states.

Penang was also rated as severely unaffordable while Selangor, Malaysia’s wealthiest state, has a median house price of RM300,000, putting it at the moderately unaffordable level.

The research was authored by Dr Suraya Ismail, Intan Nadia Jalil, and Puteri Marjan Megat Muzafar and titled “Making Housing Affordable”. It said that in the case of Kuala Lumpur, housing prices meant the distribution of house prices was “significantly skewed”.

“Of the new properties launched in Kuala Lumpur in 2014, there were no properties launched below the RM250,000 to RM500,000 price bracket, with the bulk of the newly-launched properties situated in the RM500,000 to RM1 million bracket,” it said.

The research was launched today by KRI chairman Tan Sri Nor Mohamed Yakcop, and entailed recommendations to reform the housing industry. According to the report, institutional reforms are needed to change Malaysia’s approach to housing policies. 

Source: TheMalaysianInsider.com

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Design Village, a world class shopping experience in a natural tropical park. Costing about RM300 million, the premium outlet will have net lettable area of 400,000 sq ft and contain 150 stores. The tenants will be a mix of luxury and premium brands. There will also be F&B outlets. So far, the tenants that have signed a memoradum of understanding include Hugo Boss, Armani Exchange, Calvin Klein, DKNY, Esprit, Samsonite, and Starbucks.

Unlike other conventional premium outlet malls, Design Village features extensive shady landscaping, thoughtful water features, air-cooled covered walkways, considerate rest and seating areas, and the best of Penang’s hawker cuisine, making it a destination that promises a comfortable, enjoyable experience in Malaysia’s otherwise hot and inclement weather.

Less than 5 minutes from north south expressway and from Penang Second Bridge. It is now under construction and on track for a Christmas 2016 opening.

Malaysia’s airmen may not be getting a new base in Butterworth, Penang, after all — news that will likely bring relief to residents and business operators opposed to the plan from the start.

According to a source familiar with the plan, the redevelopment of the new air force base for the Royal Malaysian Air Force (RMAF) in Butterworth, Penang, which has been in the works since early last year, may be scrapped altogether.

The source told the digitaledge DAILY that after the federal government granted in-principle approval to TSR Capital Bhd to enter into negotiations with the former to redevelop the RMAF base via a land swap in February last year, not much had happened.

“The project was stalled after much criticism and debate over the impact of the air force base relocation on the livelihoods of [the] people and business operators, and by the likelihood that it will be scrapped,” the source said.

On Feb 5, 2014, TSR Capital, a property developer and construction company controlled by its deputy chairman Tan Sri Lim Kang Yew with a 33.69% stake, announced to Bursa Malaysia that it — together with Lembaga Tabung Angkatan Tentera (LTAT) and Pembinaan Bukit Timah Sdn Bhd — will redevelop the existing 407.52ha air force base in Butterworth into an integrated mixed-use development with a potential gross development value of more than RM10 billion.

In return, the three parties are expected to build a new RM3 billion air force base for the RMAF at a different location.

It was reported that the RMAF base would be relocated to Ara Kuda, near Tasek Gelugor, while the seafront land currently occupied by the RMAF in Teluk Air Tawar, about 8km from Butterworth directly opposite Penang Island, would be transformed into “a city of arts, culture and leisure”.

When met recently, LTAT chief executive Tan Sri Lodin Wok Kamaruddin told the digitaledge DAILY that the fund was in the dark about the status of the air force base redevelopment and had so far not been updated.

He said this when asked on the status of the project and if the redevelopment of the air force base was still on the cards despite little news of the project.

“We are just a proposed passive party. We were invited [to participate in the redevelopment] since it is a military project, and why not if the government so decides,” he added.

Lodin, however, noted that the decision as to whether the project should proceed or not lies with the major stakeholder and not LTAT.

Under the collaboration, TSR Capital will get a 51% stake in the joint venture company, while LTAT and Pembinaan Bukit Timah will hold 30% and 19% stakes, respectively.

The project has drawn much criticism from the opposition, as well as residents and business operators located within the vicinity of the current RMAF base in Teluk Air Tawar, for its upheaval of the established neighbourhoods in its path.

It was reported that many, whose livelihoods were dependent on business involving RMAF staff, were worried that they would be at a great loss after the base’s relocation.

Some quarters have also voiced disparity over the proposed land-swap deal, saying it does not commensurate in value since the three companies will only need to fork out RM3 billion to build the new air force base in the outskirts of mainland Penang.

Penang Chief Minister Lim Guan Eng reportedly said that the state government would not change its stand on the matter, noting that the land-swap deal between the federal government and TSR Capital was “shrouded in secrecy”.

Tasek Gelugor member of parliament Datuk Shabudin Yahaya, who is also Penang Regional Development Authority (Perda) chairman, has also vocally opposed the plan to relocate the RMAF base, saying the new site in Ara Kuda for the base belongs to Perda.

He said Perda had earmarked the land for the building of low-cost and affordable homes.

TSR Capital (fundamental: 0.85; valuation: 2) shares have tumbled 52.3% from its Feb 7, 2014 close of RM1.30, losing RM79.08 million in market capitalisation. The stock closed down 4.62% at 62 sen last Friday, with a market cap of RM72.11 million.

Source: TheEdgeMarkets.com