The light rail transit (LRT) project is expected to be completed in 2030.

Chief Minister Lim Guan Eng said that all the LRT lines and routes should be ready by that year.

“The LRT project will pass through Batu Kawan, linking up the mainland and the island to ensure that Seberang Prai will not be neglected.

“This is what differentiates the Penang Transport Master Plan from previous plans to ease traffic congestion in Penang,” Lim said.

Lim was speaking at a press conference after witnessing Eco World chief executive officer Datuk Chang Khim Wah accepting the letter of award for a mixed development project on a 129.4ha site in Batu Kawan from Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar here yesterday.

Also present was Eco World chairman Tan Sri Liew Kee Sin.

Lim said the state government would call for another request-for-proposal (RFP) exercise to develop a theme park next to the Eco World’s proposed mixed development project.

He said the state government was committed to turning Batu Kawan into the most modern satellite township in Malaysia.

On the Eco World mixed development project, Lim said about 60.7ha would be for the development of a golf course.

He added that the Eco World project known as Eco Marina would be a gated and guarded strata township scheme that would set a new benchmark for residential, lifestyle, and commercial developments in Penang.

Source: TheStar.com.my

Eco World Development Bhd has confirmed the estimated gross development value (GDV) for the proposed Eco Marina development comprising of mixed development and the golf course in Batu Kawan, Penang would be RM10bil.

The property company said on Tuesday the development period would be about 10 years, with the construction for the mixed development and the international standard golf course to start within six months and three months.
“However, at this juncture, it is too preliminary to ascertain the development costs, expected profit and additional financial commitment for the proposed Eco Marina Development.

“Nonetheless, the development costs for the proposed Eco marina development are expected to be funded through a combination of bank borrowings and/or equity funds, the quantum of which cannot be determined at this juncture,” it said.

The proposed Eco Marina Development is a 299.64 acres of leasehold land worth RM730.93mil.

The group is leasing about 150 acres of land for 30 years to develop the golf course, with an option for a renewal of another 30 years, for an estimated lease consideration of RM65.34mil.

Meanwhile, the initial payment of RM156.25mil was paid by Eco World Development via a combination of bank borrowings and proceeds raised from the Rights Issue of Warrants.

The group said that the payment of the total reimbursable sum would be used to finance the initial payment of proposed project.

Furthermore, the company said the location of the proposed project attracts varied pool of investment across various sectors via the development of a SME village that offers ready-built factory units and a service centre for the development of local investors.

“Batu Kawan is set to become the third satellite town of Penang after Bayan Lepas and Seberang Jaya due to its strategic location and close proximity to the Second Penang Bridge which connects Bandar Cassia with Batu Muang on the Penang Island,” the company added.

Moving forward, Eco World Development is confident that the proposed project would contribute positively to the future earnings of the group.

Source: TheStar.com.my

Proposed gated and guarded development by Northern Skyline Sdn. Bhd. in Balik Pulau, Penang. It is located along Jalan Kampung Terang, about 10 minutes drive away from Balik Pulau town center.

This development will consists of 76 units of 2-storey semi-detached and 1 unit of bungalow houses.

More details to be available upon project launch.

Project Name : (Pending approval)
Location : Balik Pulau, Penang
Property Type : 2-storey semi-detached & bungalow (Gated & Guarded)
Total Units: 76 (semi-detached), 1 (bungalow)
Developer : Northern Skyline Sdn. Bhd.
Contact No: 04-226 6734

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For the very 1st time, GM Training Academy is bringing you a Hokkien Property Convention this Saturday at Sunway Hotel Georgetown. This is a FREE event by veteran property speakers from Penang, covering…

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• To buy MRTA or MLTA?

Yes! This property event is fully in Hokkien and it will be very interesting for the speakers to do it in Hokkien too.  If you are curious to learn more, sign up now. Your parents may be interested too!

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Two images known as the ‘Penang Rail Tran-sit Map’ circulating on social media have been described as visuals put together of something which has yet to be finalised.

State Traffic Management Unit chief engineer Lim Thean Heng said the superimposed images consist of a combination of loop alignments and transit corridors in Penang.

“The image tries to incorporate what has been conceptualised according to the Penang Transport Master Plan.

“It places together the loop tram alignments and the three transit corridors in the northern, southern and western direction in one map.

“Nothing is etched in stone as the Project Delivery Partner has yet to be appointed.

“It is just a visual to assist in planning. Further studies need to be done to determine the alignment or location of the stations,” he said.

Source: TheStar.com.my