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SITE PROGRESS: Begonia @ Botanica.CT (Jan 2024)

Property News/ 31 January 2024 No comments

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About Begonia @ Botanica.CT

A freehold strata landed housing development by MTT Properties & Development Sdn. Bhd. at Botanica.CT in Balik Pulau. The project is located on approximately 4 acres of land along Jalan Sungai Air Putih 5, right next to Prince of Wales Island International School. It is just a few minutes’ walking distance to Botanic CT Centre. This is the very first gated and guarded community in Botanica.CT, featuring 60 units of 2-storey semi-detached houses with three different design types.

*Photos taken in Jan 2024

Find out more about Begonia @ Botanica.CT

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Linear Garden at the Esplanade is now open to the public

Property News/ 30 January 2024 No comments

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The Linear Garden at the Esplanade is now open to the public, strengthening the commitment of the state to promoting health, fostering economic development, and creating sustainable urban environments in George Town.

The project’s upgrading efforts commenced in May last year (2023) and reached completion in December last year (2023).

Penang Island City Council (MBPP) mayor Datuk A. Rajendran said several key infrastructural facilities and park accessibility features have been established.

“They include the planting of 60 new local trees, guided by the ACRest (Atlas of Climate Resilient Tree Species) list developed by MBPP in collaboration with Think City.

“These new trees provide ample shade, creating a substantial green lung in the area.

“The installation of a Unesco World Heritage Site emblem crafted by local blacksmiths from George Town, prominently placed at the centre of the Linear Garden. Similar emblems can be found at various Unesco World Heritage sites worldwide, and we take pride in having our unique emblem in George Town,” he said in his speech before the launching ceremony at the Esplanade this morning.

Rajendran added that the use of terrazzo flooring surrounding the emblem and Shanghai plaster for pedestrian walkways, both crafted by local traditional flooring artisans.

“Additionally, classic park benches have been intricately designed by local craftsmen,” he emphasised.

Rajendran said the setting up of the Linear Garden aligns with the United Nations Sustainable Development Goals (SDGs) including Goal 3 (Good Health and Well-Being), Goal 8 (Decent Work and Economic Growth), and Goal 11 (Sustainable Cities and Communities).

“The Linear Garden project also involves upgrading the Cenotaph area, a key component of the project.

“In line with the new design, the Cenotaph now has a refreshed appearance, removing the existing iron fence to allow the public to approach and appreciate the monument more closely, acknowledging the history and sacrifices of the fallen soldiers.

“The Cenotaph site was opened earlier on Dec 10 last year, providing a venue for the Penang Veterans Association to conduct a ceremony in commemoration of Remembrance Day.

“The event was attended by military officials and veterans from Commonwealth nations. It is with pleasure that we announce the positive reception of the Cenotaph site upgrade by all parties involved,” he said.

Penang Local Government, Town and Country Planning Committee chairman Jason H’ng Mooi Lye said the state and MBPP have strived to implement green programmes such as upgrading the public realm.

“Since 2010 until 2023, MBPP has upgraded 23.62ha of public spaces on Penang island, at a cost of RM10.215 million.

“In 2024, MBPP is set to enhance 10 neighbourhood parks, allocating RM6.5 million for public leisure and recreational purposes.

“The state government and MBPP will persist in their efforts to establish additional parks as green lungs, aligning with the Penang2030 vision of A Family-Focused Green and Smart State that Inspires the Nation.

Chief Minister Chow Kon Yeow said the Linear Garden project is one of the 14 projects under the RM140 million North Seafront Masterplan.

The masterplan was developed by the George Town Conservation and Development Corporation (GTCDC), a partnership between the Penang Chief Minister Incorporated (CMI), Think City, and Aga Khan Trust for Culture.

“The Linear Garden project was implemented by MBPP, following the state government’s initiative in allocating RM1.5 million through the State Development Budget,” he said.

Chow also highlighted another project under the North Seafront Masterplan – the restoration of the moat of Fort Cornwallis – which was scheduled for completion in 2025.

“Once completed, the Fort Cornwallis stands to attract many visitors to the George Town World Heritage Sites,” Chow said.

He also touched on the necessary upgrading of the Dewan Sri Pinang.

“The Dewan Sri Pinang was built in 1972. This iconic building has served Penang for the past 52 years.

“Its upgrading project is one of the 14 projects under the RM140 million North Seafront Masterplan.

“The proposal to conserve Dewan Sri Pinang has received public feedback.

“The Penang executive council (exco) has also deliberated and will invite Think City and GTCDC to present the outcome of the work done earlier as well as the public feedback,” he said.

Chow added that the estimated cost was over RM50 million, which is a huge amount.

“We hope that the Federal Government can assist us on the matter,” he said.

Chow also extended his appreciation to GTCDC, MBPP and all other relevant bodies for their efforts in realising the masterplan.

Source: Buletin Mutiara

Application to rent MBPP vacant stalls begins today

Property News/ 30 January 2024 No comments

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Those interested in renting vacant stalls at markets, food courts, and hawker complexes under the Penang Island City Council (MBPP) now have the opportunity to apply through a virtual session on Feb 26.

MBPP councillor Tan Soo Siang said the application period will run from Jan 30 until Feb 22.

“In this round, there are 160 vacant stalls in 31 locations that will be up for grabs.

“We welcome anyone keen to apply to perform the applications soon,” she said at a press conference at City Hall yesterday.

According to Tan, the application can be made at ulesen.mbpp.gov.my while those facing difficulties in registering themselves can contact the Licencing Department at 04-2638818.

“Those who do not register themselves during the application period are not eligible for the virtual interview session on Feb 26,” she said.

Tan advised those applicants to dress appropriately during the interview session and make sure their internet access is connected.

Also present were MBPP councillors Nicholas Theng, Koay Gaik Kee, Rohaizat Hamid, Chan Soon Aun, and Choong You Ray.

Source: Buletin Mutiara

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Mekarsari Unggul

Bertam/ 29 January 2024 No comments

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Mekasari Unggul is a landed residential development in Bertam, representing the latest phase of the Mekarsari master-planned township by Hunza Properties Group. Situated near the main road of Jalan Tun Hamdan Sheikh Tahir and adjacent to Penang Technology Park @ Bertam, it is conveniently located just a 10-minute drive from Bertam Toll Plaza.

The initial phase of this development comprises 317 units of 2-storey terrace houses, each featuring 4 bedrooms and 3 bathrooms. The built-up size ranges from 2,168 sq.ft. onwards. The indicative starting price for these units is RM700k.

Project Name: Mekarsari Unggul
Location : Bertam, Kepala Batas
Property Type : Residential
Tenure : Freehold
Land Area: 1,586 sq.ft. – 3,649 sq.ft.
Built-up Size: 2,168 sq.ft. – 2,354 sq.ft.
Indicative Price: Below RM700k
Developer : Bandar Kepala Batas Sdn. Bhd. (Hunza Group)

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Tropicana Corp sells Courtyard by Marriott Penang to IOI for RM165m

Property News/ 27 January 2024 No comments

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Tropicana Corporation Bhd’s subsidiary, Tropicana Macalister Avenue (Penang) Sdn Bhd, has signed a sale and purchase agreement with IOI PFCC Hotel Sdn Bhd to sell Courtyard by Marriott Penang for RM165 million.

The transaction will generate a surplus cash of approximately RM80.8 million for Tropicana, contributing to a reduction in net gearing and an improvement in its financial position.

The move is in line with the company’s strategy to monetize land banks and investment properties.

Tropicana recorded RM1.4 billion in property sales in FY2023, with unbilled sales at RM2.3 billion, positioning the company well for sustainable earnings.

The disposal of Courtyard is part of Tropicana’s broader initiative to strengthen its market presence and achieve strategic divestment plans.

The company remains optimistic about the demand for properties in prime locations within its established townships.

Ongoing and new developments, such as SouthPlace Residences and Hana Residences, have experienced high take-up rates.

Tropicana plans to unveil eight new signature developments in 2024 with an estimated total GDV of over RM4 billion.

Overall, Tropicana holds a total landbank of 1,842 acres with a potential GDV of approximately RM120 billion, positioning the company favorably for unlocking the value of its strategic landbank and ensuring sustainable performance in the coming years.

Source: TheMalaysianReserve.com