Penang eyeing July approval for LRT project to begin 2017
Penang hopes to secure a conditional approval for its first railway scheme connecting Bayan Lepas to Komtar by next month, state executive councillor Chow Kon Yeow said.
The local government committee chairman said SRS Consortium, the project delivery partner (PDP) for the Penang Transport Master Plan (PTMP), met with Land Public Transport Commission (SPAD) last week.
“The meeting went well and seemed favourable,” he told reporters after a PTMP briefing with Japanese delegates at Komtar this morning.
Chow added that a July approval for the proposed Bayan Lepas Light Rail Transit (LRT) would allow the state to proceed with a three-month public inspection beginning August, to allow public feedback.
The Bayan Lepas LRT project, along with the pan island highway link and the reclamation of two islands off southern Penang, are part of the first phase of the PTMP implementation.
Chow also said that once SPAD grants the approval, a Special Purpose Vehicle (SPV) will be set up to administer the implementation of these projects.
The SPV will be a government entity that that will also be tasked with facilitating city planning, development, promotion and management of the Penang South Reclamation (PSR) project, he said.
Chow added that the state hopes to commence construction on the Bayan Lepas line – the first phase of the LRT project – by next year. Operations for the first phase should begin by 2023 while the full line should be operational by 2030, he said.
Earlier, during a question and answer session, SRS Consortium business development senior manager Andrew Chan said it will take up to three years before they could have land to sell under the PSR to fund the PTMP.
He said they can proceed with construction of the LRT and highway project first but would still need to time it with the sale of lands from the reclamation.
“We will depend on bridging financing first to fund the reclamation and construction of the LRT and after the third year, we will have lands to sell to fund the project,” he said.
When asked about sustainability of the future transport assets, Chow said the transport system will not rely strictly on farebox revenue and advertisements.
“We are looking at property development to generate another revenue source to sustain the transport assets, like in Japan and Hong Kong. I think Hong Kong’s MTR is known more as a property developer than as the LRT operator,” he said.
Source: TheMalayMailOnline.com
Our progress too slow.
Many be too many obstacle?
Once the the green light approved then Sg Ara, Bayan Baru, Bkt Jambul and Bayan Lepas will all develop even further. These will be the new growth areas on Penang Island. Buy only Island properties
Assuming work starts next year, will it only be operational in year 2023? How come take so long? KL MRT takes only 3 years, and that actually involves underground tunnels. But for LRT, no tunnel no noting, need so many years to complete meh?
More time for the island properties around the area to appreciate by leaps and bounds
KL MRT works for Sg Buloh-Kajang line started in 2011, it has already been 5 years. Currently still under construction.
@Getha,
That’s true, that’s how you turn a 2.8m bungalow into a 5m bungalow i guess. Huat ah!!!
Change LRT line to MRT for Heritage Area and Town Area…..avoid road become smaller…..
Haiyo….do u know which area are heritage? Do u know the whole ptmp. Do u read it?@leong
No comments on that la Bro but if own landed properties in bayan baru/sg ara then get ready for really happy days. Condo already saturated. Landed properties will be best if can afford
Wow take so long time , dont know still alive by then lol
@Getha
Surely like that, otherwise won’t need 6 YEARS to build LRT one lah, somemore so short only.
Nevermind as long as Penang Island will prosper. Its the best place to live in the entire world
Why are you attacking condo in Penang Island since u are Penang Island supporter? Please make ur statement more firm on penang island. Or else, u are just a clown
Preferably buy landed properties on Penang Island. land is getting scarcer and will appreciate even more in future. Never buy on mainland. take a drive around. So much land…so so so very much…..
Wealth in a country population is always in a shape of pyramid. The poorer forms the majority at the bottom of the pyramid while the rich at the top. The amount of people who can afford prime area will get lesser and lesser when property price goes up and property prices in these prime area will hit a saturated point.
In property economics, a spillover effect to suburban area is inevitable. In penang case, suburban area = mainland.
Mainland needs to develop and prices to go up before island can go up further.
Today, a terrace in island is 1.5mil, a terrace in mainland is 600k, a spillover is for sure.
Imagine a situation where a terrace is 1.5mil in island and a terrace in mainland is 1.2mil. people will start buying in island where the growth in island property will continue.
Imagine a situation where only island property grows, a terrace in island is 3mil, and a terrace in mainland remains at 600k, everybody with a right mind will consider buying a place in mainland.
Island and mainland belongs to the same country, same state, development needs to grow together. if property in mainland dont move up, property in island will not as well. it just correlated.
You need to see the bigger picture.
Money is not everything, Consider Penang Island for its beauty, easy access to good hawker food and amazing heritage zones – not to mention easy access to the airport. My Island in the Sun…..May you always remain the best forever
I am speechless as to how thick Gethas face is.
Economics 101.
Demand for island property increases.
Prices rise.
Affordability drops.
Surrounding areas will have spillover.
Demand will rise for surrounding areas.
We are not doubting you about how fabulous island is.
We are explaining to you no matter how shining in the sun island is, it ceases to be affordable to large swaths of the population, and therefore, mainland penang properties may suit people’s needs.
Stop your child level arguments and comments. It is not contributing any useful information at all
Regardless, it is always better to buy Penang Island based properties than mainland. You get to enjoy this wonderful Island and your properties will appreciate faster.
@Ivan555
Haha…now you understand why I keep suggesting him to quickly find a proper job, find a wife and lead a normal life meanwhile still going back to his doctor on time for consultation…
Haha..He will not contribute any useful, helpful and constructive opinion one lah…Mai Chap Siao Yi lah…haha…Let him Kaki Gong, Kaki Song lah…
This has become an amusement to me already, bro…Haha..
I was like laughing in my office when I saw his reply again just now and my colleagues wondered what ‘s wrong with me..
ha ha, every posts and topics become penang island vs mainland. Sian nia.
Island food too oily , contribute to heart attack and high blood pleasure
Live at mainland better , cook home meal eat
Buy Penang Island properties and ignore mainland properties as Island based properties will be better in the long run.
Stop talking like a retarded kid Getha. Take back your mattress and go home. We have Simmons here.
You will never regret investing in Penang Island properties. There is simply way too much land across the channel.
@edisongan
I rest my case. Can’t be saved. LOL.
Just treat it as amusement.
@Ivan555
Hahha…Mai Chap Siao Yi Lah…..Let him be lah…He has become a laughingstocks already..but rather annoying if he keeps disturbing instead of giving useful views..
We should sympathize sick people..instead of discriminate him..So, it becomes amusement to me loh..hahaha
Another wonderful day to enjoy the Island. Great weather. Heritage area bustling, food stalls doing brisk business and then after that back to my cosy home to relax. What more to ask. Two thumbs up for those buying Penang Island properties. Occupy Beach Street this Sunday again full of people unlike its copycat Butterworth activity which is dying a slow death……disappearing into oblivion. Better buy Penang island properties
The LRT line in Heritage area maybe can go underground .