Picture for illustration purposely only

The construction of the Penang Hill cable car project is set to commence next month, or latest by June, as confirmed by Penang Infrastructure, Transport, and Digital Committee chairman Zairil Khir Johari.

Zairil mentioned during a short media briefing, prompted by reporters, that planning permission was secured in January of this year.

“The project received approval alongside both the Environmental Impact Assessment (EIA) and the Social Impact Assessment (SIA).

“Therefore, both the state and the Penang Hill Corporation (PHC) anticipate the project to begin soon,” he said after attending the Raya Carnival held at SK Jalan Residensi today.

Expanding on his earlier remarks, Zairil stressed that the 2.7km cable car project connecting the Botanic Gardens to the summit of Penang Hill would significantly boost the tourism sector upon its anticipated completion within three years.

“It will offer an alternative transportation option to the current funicular railway in Air Itam.

“Moreover, Penang Hill’s food and beverage industry, along with other tourism offerings, stand to reap substantial benefits.

“The estimated commuting time to Penang Hill via the cable car is approximately 10 minutes,” he said

In attendance at the event, Chief Minister Chow Kon Yeow commended the relevant authorities for their approval of the cable car project, as well as for their efforts in advancing various infrastructure initiatives.

“We extend our sincere gratitude to the Federal Government, particularly for their invaluable assistance and unwavering commitment to enhancing the public transportation network within the state.

“We eagerly anticipate the completion of the Penang Hill cable car project, which will provide an alternative mode of transportation to the existing funicular railway.

“As such, we remain dedicated to enhancing the state’s infrastructure projects and fostering the development of Penang for the betterment of its people,” he said.

At the Raya Carnival event, Chow praised the power of embracing the diverse multiracial and multicultural fabric of society as a catalyst for fostering unity.

Source: Buletin Mutiara

Aralia Park, a serviced residence development by Palmington Sdn. Bhd. (Tambun Indah Group), situated in the Pearl City township of Simpang Ampat. It is positioned along Persiaran Mutiara 8, neighboring the Palm Garden to its left, with XCL International School behind it, and Pearl City Mall to its right. This marks the third high-rise development undertaken by the same company within the Pearl City township.

This development consists of two towers, each standing 21 storeys tall, offering a total of 359 residential units comprising 2-bedroom and 3-bedroom layouts, complemented by a 50m lap pool. Additionally, it features a 6-level car parking podium and 10 units of 2-storey shop lots at ground floor level. There are 6 different layout types to choose from, with the smallest unit starting at 775 sq.ft. and the largest unit spanning 1,194 sq.ft.

Project Name : Aralia Park
Location : Pearl City, Simpang Ampat
Property Type : Serviced residence
Total Units: 359
Built-up Size: 775 sq.ft. – 1,194 sq.ft.
Land Tenure: Freehold
Indicative Price : RM430,000 onwards
Developer : Palmington Sdn. Bhd. (Tambun Indah Group)

About The Meg @ Andaman

The first project in Andaman Island, the highly-anticipated prime reclaimed island of Seri Tanjung Pinang Phase 2A by E&O. Features two blocks of 27 and 34-storey serviced apartments with an estimated GDV of RM690 million. It comprises 1,020 residential units with innovative layouts designed to suit young executives and new families.

Find out more about The Meg @ Andaman

Yet another upcoming luxury development nestled along the ever-bustling Gurney Drive, this project is undertaken by Ventas Sdn. Bhd. Situated adjacent to the newly completed Marriott Residences and offering picturesque views of Gurney Bay, it is merely minutes away by car to Gurney Plaza and Gurney Paragon.

This development will entail the construction of a 30-storey commercial building featuring 66 office suites with mezzanine floor. It will come equipped with an automated car parking system to cater to parking needs.

The project is still pending approval. More details will be available upon the official launch.

Project Name : (to be confirmed)
Location : Gurney Drive
Property Type : Commercial suites
Tenure : (to be confirmed)
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units : 66
Indicative Price: (to be confirmed)
Developer : Ventas Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

Professionals such as valuers, property managers and real estate agents have a bright future, in line with the growing demand seen in the real estate industry, National Institute of Valuation (Inspen) director Aina Edayu Ahmad said.

She noted that as of the fourth quarter of 2023, the residential stock to be managed and transacted stood at 6.2 million units. This excludes other areas such as shop property stock and industrial property stock.

“Therefore, job prospects in the three professions are bright and abundant, whether in the government or the private sector,” she told Bernama in an interview.

She explained that those working in the industry would not only be confined to helping private buyers but would also provide their expertise to the local and federal governments.

“In the government sector, we cater to the federal government, state governments, agencies and statutory bodies for various valuation purposes including taxation, stamp duties and acquisitions. We assess the market value for various investment purposes and related matters.

“We also provide data (gathered from the National Property Information Centre, or Napic) to various agencies, including Bank Negara Malaysia, the Economic Planning Unit, and the Finance Ministry. On top of that, we also provide consultancy to government agencies,” she said.

Meanwhile, for the the private sector, Aina Edayu said the core business will be on valuation serving the retail and corporate segments, mainly for obtaining financing and mortgage purposes, so that banks could get the right values for the properties intended for acquisition.

She said that there are currently over 700 private firms registered with the Board of Valuers, Appraisers, Estate Agents and Property Managers (LPEPH).

Under the Valuers, Appraisers, Estate Agents and Property Managers Act 1981, only certified professionals — a property valuer registered with LPEPH — are authorised to give market values as requested by any institution.

“Hence, banks or financial institutions can safeguard their interest by providing the correct amount of loan, while for the buyers, they would know whether the properties are purchased at market value, above it or below it.

“Therefore, all parties would have the correct guidance in their investments,” she said.

She said valuers’ authority extends beyond just loans.

Other valuations are also covered, for the purposes of sale and purchase, land compulsorily acquired for public purpose, and corporate investment and management.

Inspen, which has LPEPH as its patron, is the real estate training department and research centre for the Valuation and Property Services Department under the Ministry of Finance.

Source: TheEdgeMalaysia.com