The topping-out ceremony for the GEM Residences, a collaborative luxury apartment project between Belleview Group and LTC Group, took place on Thursday. The ceremony marks a significant step towards the expected handover of keys to homeowners within the next 6 to 8 months.

Penang Housing Committee chairman Datuk Seri Sundarajoo Somu expressed the state government’s commitment to supporting developers in implementing various projects aimed at constructing diverse housing types, including affordable and low-cost housing.

“With 37 years of experience in the development industry, having been a developer myself, I understand the challenges developers face. As a state legislative assembly member now, I am dedicated to assisting developers to ensure smooth project execution and create more employment opportunities,” he stated during his visit to the topping-out ceremony for Gem Residences.

Belleview Group managing director Datuk Sonny Ho Kiong Chan acknowledged the unprecedented challenges faced by various sectors, including the construction industry, during the outbreak of the COVID-19 pandemic. He emphasized that the industry experienced a halt in construction activities during lockdowns over the past four years.

“At this critical juncture, we have managed to overcome these challenges, primarily due to the unwavering support of our business partners, contractors, bankers, consultants, appraisers, real estate agents, and the dedicated management and staff of Belleview Group and LTC Group. This collective support gives us the confidence to navigate through adversities,” Datuk Sonny Ho Kiong Chan remarked.

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

Water tariff rates for domestic users in Penang will double from Feb 1, chief minister Chow Kon Yeow announced on Wednesday.

Accounts that use zero to 20 cubic metres a month will be charged 50 sen per cubic metre, compared with 22 sen now.

Meanwhile, those who use 20 to 35 cubic metres a month will be charged RM1.10 per cubic metre and those using more than 35 cubic metres will need to pay RM2 per cubic metre, compared with the current rate of 46 sen and 68 sen, respectively.

This follows the National Water Services Commission’s (SPAN) announcement that water tariffs for domestic users in the peninsula and Labuan will be raised by an average of 22 sen per cubic metre.

Penang is the first state to announce new rates.

The Penang government has prepared two rebate schemes, one for B40 households comprising at least eight people, and another for hardcore poor households with a maximum household income of RM1,035 a month.

Executive councillor Zairil Khir Johari said RM10 in monthly discounts would be provided to these households under both schemes.

Hardcore poor households will not have to apply for the rebate since their details are in the e-Kasih welfare system, but eligible B40 families may apply for the other scheme at the Penang Water Supply Corporation’s (PBAPP) offices.

Zairil said this was more targeted and that past rebate schemes could be accessed even by rich households comprising a minimum of eight people.

Meanwhile, Chow said maintaining the tariff rate for domestic users for the past 31 years had affected the PBAPP’s revenue.

He added that the water company’s revenue was crucial to ensure it could operate smoothly while building new water infrastructure and maintaining existing ones.

“We can’t expect to maintain the (previous) tariff rate forever. A stagnant tariff rate means we won’t have funds to carry out these projects,” added Chow.

While PBAPP expects to earn RM86 million in revenue a year with the higher tariffs, Chow said the corporation would still have to fork out about RM78 million in subsidies annually.

He maintained that it was the “most suitable and opportune” time to raise the tariffs, saying the four-day scheduled water cuts last week showed there was a need to upgrade existing infrastructure.

Source: FMT Online

Gurney Vertex, a commercial property development project by TT Gratia Land Development Sdn. Bhd. located near Gurney Drive. Situated strategically along the bustling Kelawai Road, it is directly across from Gurney Plaza. This development is in close proximity to Gurney Bay and within a short walking distance to Gurney Plaza.

This development will involve the demolition of the existing building to make way for the construction of a 30-storey commercial tower. The tower will feature 58 units of commercial suites. The project is anticipated to commence in Q3 2024 and is projected to be completed within 4 years. Further details will be provided upon the official launch.

Project Name : Gurney Vertex
Location : George Town
Property Type : Commercial tower
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 58
Indicative Price : (to be confirmed)
Developer :TT Gratia Land Development 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.

Bayan Lepas LRT Project is set to commence later this year, according to Transport Minister Anthony Loke Siew Fook. The announcement was made yesterday during a press conference following the signing of a Memorandum of Understanding (MoU) between the Railway Assets Corporation (RAC) and the Penang State Housing Board (LPNPP) for the redevelopment of Kampung Manis. Chief Minister Y.A.B. Tuan Chow Kon Yeow also attended the ceremony.

Minister Loke revealed that Prime Minister Datuk Seri Anwar Ibrahim has instructed the Malaysian Ministry of Transport to prepare a Cabinet memorandum for approval. This significant step underscores the commitment to advancing Penang’s transportation infrastructure.

“The Penang LRT Project (Komtar-Bayan Lepas) will be finalized soon. Yesterday, I had a meeting with the Prime Minister regarding the Penang LRT Project, and he directed the Ministry of Transport to prepare a Cabinet memorandum for approval in terms of its implementation,” stated Minister Loke.

Earlier, the Federal Government had agreed to assist the Penang State Government in expediting the Komtar-Bayan Lepas LRT Project, estimated to cost RM10 billion. The project aims to address the growing transportation needs of the state, providing a modern and efficient public transit system.