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SITE PROGRESS: G’Vinton (Sep 2024)

Property News/ 18 September 2024 No comments

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About G’Vinton

A serviced residence development by GSD Land in George Town. The project spans approximately 1 acre and is strategically positioned between Ambank and the NSTP building, offering convenient access to KOMTAR and Gurney Drive. The development will include 508 serviced suites, a nine-level car parking podium, and four shop offices on the ground floor. Recreational facilities will be located on level 38.

*Photo taken in Aug 2024

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Bandar Cassia Technology Park on track for 2026 completion

Property News/ 17 September 2024 No comments

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The construction of the Bandar Cassia Technology Park (BCTP) is on track, with full completion expected by 2026, according to Penang Chief Minister Chow Kon Yeow. Chow, who is also the chairman of the Penang Development Corporation (PDC), revealed that the project, which began in 2022, spans 303 acres of industrial land and involves comprehensive earthworks and infrastructure development.

Divided into five phases, the industrial park is designed to meet the needs of both local and international investors. Phase 1A covers 60 acres, while Phase 1B spans 57.27 acres, followed by Phases 2, 3, 4, and 5, which together will complete the project. So far, 144 acres have been completed, with construction ongoing for the remaining 159 acres, which includes essential infrastructure such as road works, a sewerage treatment plant, and electrical systems.

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Two investors have already begun building their manufacturing facilities within the park, reflecting the growing interest in the site. Chow emphasized the importance of attracting companies that adhere to Environmental, Social, and Governance (ESG) principles, particularly in the green and high-tech sectors.

“We are focused on drawing investors who align with these principles, ensuring that BCTP becomes a hub for sustainable and high-tech industries,” Chow said during a site visit.

PDC chief executive officer Datuk Aziz Bakar, who was also present, reiterated the importance of this project in driving Penang’s industrial growth and enhancing its global competitiveness.

 

Batu Kawan Bridge set to open next month

Property News/ 16 September 2024 1 comment

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The much-anticipated Batu Kawan Bridge, located near Batu Kawan Stadium, is expected to open to the public in October, according to Penang Chief Minister Chow Kon Yeow. The construction project, which began in December 2022, is now 85% complete. Although progress was briefly delayed due to a partial bridge collapse, Chow assured that the Penang Development Corporation (PDC) has taken steps to prevent future incidents.

Chow, who also serves as the PDC chairman, stated that construction is proceeding smoothly and is on track to be completed by the end of September, with Umech Construction Sdn Bhd as the contractor. The bridge, which spans 1km and cost RM23 million, will feature a three-lane dual carriageway, enhancing connectivity between Bukit Tambun and Batu Kawan.

During a site visit, PDC chief executive officer Datuk Aziz Bakar accompanied Chow, who emphasized that the new bridge will significantly improve access in the region. The public can expect the bridge to be fully operational next month.

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SITE PROGRESS: Orange Industrial Park (Sep 2024)

Property News/ 15 September 2024 No comments

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About Orange Industrial Park

A light industrial park development by Tah Wah Group at Chain Ferry, Butterworth. Located near prime industrial areas in Prai, adjacent to Southern Pipe Industry (M) Sdn. Bhd. It is easily accessible via Jalan Chain Ferry, about 15 minutes drive from Penang Bridge. It features 38 double-storey semi-detached factories and a double-storey detached unit, with each unit offering a standard built-up area of at least 4,750 sq.ft. and a minimum land area of 8,020 sq.ft.

Find out more about Orange Industrial Park

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MBSP to increase assessment rate for Seberang Perai properties in 2025

Property News/ 14 September 2024 No comments /中文版

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The Seberang Perai City Council (MBSP) has announced a revision to property assessment rates, effective 1 January 2025. This adjustment will see an increase of up to 5%, based on property categories, marking the first change since the current rate was introduced in 2020.

Mayor Baderul Amin Abdul Hamid highlighted that 63% of the 362,097 properties in Seberang Perai would be affected by the hike. The revision will impact 41,988 flats, 140,333 landed residences, 29,527 trade holdings, 1,793 factories, 4,999 light factories, 154 gas stations, and 9,927 land parcels under development. The remaining 37% of properties will not be subject to the rate change and will continue paying at the current rates.

The state government has approved the adjustment under the Local Government Act 1976. Mayor Baderul noted that the additional tax revenue—expected to bring in RM10.757 million—will be allocated for maintaining cleanliness, waste disposal, road maintenance, and public facility upgrades.

In particular, 87.55% of flat owners, excluding those in low- and medium-cost units, will see an increase of no more than RM20 in their assessments. Others will experience larger hikes, depending on their property category.

Residents dissatisfied with the new rates can file objections via the MBSP website until October 14, 2024. These objections will be reviewed by the reassessment committee, with final decisions expected by April 2025.

This revision is part of MBSP’s broader initiative to ensure the continued development and upkeep of Seberang Perai’s infrastructure and public amenities.