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SITE PROGRESS: TreeO (Oct 2023)

Property News/ 19 October 2023 2 comments

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About TreeO

Affordable housing development by Hunza’s wholly-owned unit, Diamaward (M) Sdn Bhd, at Sungai Ara. It is located next to Taman Sungai Ara, about 1.5km away from SJK(C) Chong Cheng. This development comprises three 49-storey towers offering a total 1,240 affordable units.

Find out more about TreeO

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*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Tanjong Prima-Island Plaza overhead bridge enhances pedestrian safety and convenience

Property News/ 19 October 2023 14 comments

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Pedestrians from all walks of life, including tourists, foreign workers, office-goers, senior citizens, and youngsters, have begun utilising the recently constructed Tanjong Prima-Island Plaza overhead bridge in Tanjong Bungah.

The overhead bridge connects Fettes Road and the Seri Tanjung Pinang Road, situated opposite the Prima Tanjong Business Centre. It now provides safety and convenience in the area.

The 38-meter-high overhead bridge boasts a modern structure that is designed to be accessible to the disabled and elderly individuals, with lifts on both sides.

State Infrastructure, Transport, and Digital Committee chairman Zairil Khir Johari said the Tanjong Prima-Island Plaza overhead bridge had earlier announced that the bridge, equipped with lifts on both sides, would make it inclusive and user-friendly.

The total cost for the construction of this overhead bridge amounted to slightly over RM2 million.

Zairil explained that the bridge’s construction has not only improved road safety but also reduced the pedestrian traffic signal phasing. Consequently, this has contributed to a more efficient traffic light cycle for vehicles, thereby alleviating traffic congestion in this bustling area.

Source: Buletin Mutiara

Preliminary planning underway for “Sports City” project in Batu Kawan

Property News/ 18 October 2023 No comments

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In a bid to bolster the sports and recreational offerings in the region, the state government, through the Penang Stadium and Open Spaces Corporation (PSDKLPP), is making significant headway in the development of the ambitious ‘Sports City’ project in Batu Kawan. The concept and financing model for the project are currently in the works, marking a crucial preparatory phase before the issuance of a request for proposal (RFP).

Daniel Gooi Zi Sen, the State Youth, Sports, and Health Committee chairman, has emphasized the importance of this initial stage, which will pave the way for attracting reputable investors or bidders once the RFP is announced. While an exact date for the RFP remains uncertain, Gooi assures that the concept and financing model are being meticulously crafted.

“The Sports City project is supervised and handled by the PSDKLPP, which has held discussions with related agencies and stakeholders to identify the components to be included in the Sports City project,” Gooi stated during a press conference.

This exciting development comes after the project was first announced by the former state Youth and Sports Committee chairman, Soon Lip Chee, last year. The intention behind the Sports City project is not only to foster a thriving sports community in Batu Kawan but also to transform it into a sports hub, complementing the area’s reputation as an industrial center.

Gooi emphasized the multi-faceted benefits of this project, stating that it has the potential to stimulate the growth of Penang, benefit the local population, and attract sports enthusiasts not only from neighboring states but also from other countries. It is envisioned as a dynamic hub for sports and recreation that will host a wide array of events, making Batu Kawan a destination for athletes and spectators alike.

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Penang calls off Batu Kawan land deal

Property News/ 17 October 2023 2 comments /中文版

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The Penang government has called off the sale of a plot of industrial land in Batu Kawan to a private company, following a change in shareholding in the purchaser’s company.

State agency Penang Development Corporation (PDC) said it has since given Umech Land Sdn Bhd a three-month notice, following a board meeting yesterday.

“The change of majority stake in Umech Land Sdn Bhd, to an extent the controlling stake, without PDC’s prior approval is a serious issue that the PDC board is unable to accept,” it said in a statement.

The land sale became controversial following claims it was sold below market rate, with the company later being acquired by a major property developer.

PDC said it would now open up the land to be developed through a request for proposal (RFP) for the Batu Kawan Industrial Park 2 project, which would be advertised soon.

It also reiterated that the earlier land deal with Umech was above board, with its cash contribution and payment schedule evaluated as transparent as per PDC’s policies.

“The board also took note that the collaboration was feasible and would have a positive impact on PDC’s cash flow,” it said.

The controversy arose when the Penang Chinese Chamber of Commerce (PCCC) said the plot was sold below market value to Umech Construction Sdn Bhd. It also found the directly negotiated deal to be unacceptable.

PCCC also alleged that a property developer had taken control of Umech and is now offering to lease out parcels of the land at high rates.

Chief minister Chow Kon Yeow has since defended the deal, saying the land had to be sold through direct negotiations, since there were no interested parties and it was a piece of raw land next to a landfill.

He said the directly negotiated deal was nothing new, with other parcels of Batu Kawan land having been given up this way too previously.

It was also reported that on Sept 27, Sunway Bhd announced that Umech Land had inked a joint development agreement with PDC to co-develop a 558.96-acre (226.20ha) land in Batu Kawan into an industrial park with a gross development value of around RM3.5 billion.

Source: FreeMalaysiaToday.com

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SITE PROGRESS: Iconic Regency (Oct 2023)

Property News/ 17 October 2023 No comments

iconic-regency-site-progress-oct2023

About Iconic Regency

A mixed development by Iconic Development Sdn. Bhd. at Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, next to SK Sungai Nibong. It is only 10 minutes walk to two future LRT Stations – Sungai Nibong & Pesta Stations. Featuring a 42-storey serviced suites with 268 fully furnished residential units.

Find out more about Iconic Regency

Register your interest here and we will keep you updated.

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)