London Pavilion, a high-rise residential development by M Summit Premium Sdn. Bhd. (a subsidiary of M Summit Group) in Bayan Lepas. Located along Jalan Permatang Damar Laut, right opposite SMK Bayan Lepas. This development is close to the Bayan Lepas Free Industrial Zone, Penang International Airport, upcoming LRT stations, Silicon Island and Penang Second Bridge. Residents will benefit from seamless connectivity and easy access to a wide range of amenities.

The development comprises a 46-storey building, featuring 527 residential units with 12 levels of car parking podium. The facilities and recreation area will be located on the 13th and top floor.

Project Name : London Pavilion
Location : Bayan Lepas
Property Type : Apartment
Tenure: Freehold
Built-up Size: 982sq.ft. – 1,510sq.ft.
Total Units : 527
Indicative Price : RM418k onwards
Developer: M Summit Premium 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.

Source: Buletin Mutiara

According to a news report in Buletin Mutiara, the Penang Hill Upper Station Upgrading Project (Phase Four) is on the cusp of completion, with the final touches expected to conclude next month. According to the Penang Hill Corporation (PHC) general manager, Datuk Cheok Lay Leng, the corporation aims to unveil the new upper station to the public before the Chinese New Year celebration next year, marking a pivotal moment in the RM9.3 million project initiated on March 20, 2021.

Cheok Lay Leng conveyed his excitement, highlighting that the project is now at an impressive 95% completion. The primary objective of this initiative is to significantly enhance the visitor experience on Penang Hill, with plans to increase the upper station’s capacity from accommodating 250 visitors to an expansive 700 visitors at a time.

The expansion encompasses the transformation of the current 800 sq m space, a single floor, into a more extensive 1,422 sq m area spread across two floors. The upgraded upper station will feature improved facilities, including a ticketing counter, escalators, a lift, restrooms, a dedicated mothers’ room, and a distinctive featured wall paying homage to Arnold Robert Johnson (1879 – 1966), the engineer credited with designing the historic Penang Hill railway.

Cheok emphasized PHC’s commitment to sustainability, revealing that the corporation is working towards achieving the Green Building Index (GBI) Gold rating for this project. The new upper station is designed with senior-friendly and disabled-friendly facilities, reflecting the aspiration to transform Penang Hill into an authentic, family-friendly destination that fosters a close connection with nature.

In addition to upgraded facilities, the upper station will feature a smart queue management system, ensuring a seamless journey for Penang Hill visitors. Through an e-boarding system, visitors will be assigned batch numbers and provided with estimated boarding times for the funicular train, enhancing the overall efficiency of the experience.

Cheok encouraged visitors to utilize their waiting time by enjoying the amenities at David Brown’s Restaurant and Tea Terrace or the Astaka Bukit Bendera. This strategic use of time allows visitors to explore the hill’s attractions and maximize their overall experience. A similar system is already operational at the lower station, promoting a more productive use of visitors’ time on the hill.

Cheok underscored the main objective of the upgrading project, emphasizing PHC’s role in finding innovative ways to enhance people’s experiences. The corporation is also actively bringing businesses to traders on the hill through digital infrastructure.

Chief Minister Chow Kon Yeow highlighted that these developments align with the fundamental guidelines outlined in the Penang Hill Special Area Plan (SAP) 2016 and Penang Hill Special Area Plan (Substitution) 2020, aimed at preserving the aesthetic value and natural attractions of the hill. As Penang Hill approaches this significant transformation, it is poised to solidify its status as a premier destination in Malaysia, offering an unforgettable experience for locals and tourists alike.

The recent overhaul of Malaysia’s My Second Home (MM2H) program, aimed at attracting a larger pool of foreign residents, has sparked optimism in the country’s property sector. The three-tiered structure and updated financial requirements introduced by the Tourism, Arts, and Culture Ministry aim to make Malaysia an even more appealing second home destination.

While the revised MM2H program is viewed as an improvement over its predecessor, concerns linger about its overall attractiveness and impact on the economy. Professor Geoffrey Williams, an economist and Provost for Research and Innovation at Malaysia University of Science and Technology, believes that despite the changes, the program still appears more as a revenue-raising initiative for the Immigration Department than a genuine effort to encourage expatriate residents.

Williams notes that the MM2H program might primarily attract high-income individuals seeking tax avoidance strategies rather than those genuinely interested in contributing to the local economy. The lowered minimum age requirement and expanded range of eligible dependents may not be sufficient to position Malaysia competitively against neighboring countries with similar programs.

The introduction of the Premium Visa Program (PVIP) in September 2022 reflects the government’s attempt to attract wealthy foreigners through a “Residency Through Investment” concept. However, Williams argues that this approach may not be enough to repair Malaysia’s reputation, as other countries offer better schemes and lower living costs.

The MM2H program, initially launched in 2002 to attract retirees, was suspended in 2019 and relaunched in 2021 with more stringent conditions. According to RHB Research, the stricter criteria led to a significant decline in MM2H applications, representing only 2.8% of the residential transaction volume.

PVIP, designed to raise funds quickly, faced challenges due to its high upfront processing fees. Williams emphasizes the need for a positive sentiment and a welcoming environment, suggesting that the government should focus on creating an attractive long-term option for foreigners.

While analysts from research houses like RHB Research and HLIB Research see potential benefits for key property developers like UEM Sunrise Bhd, Sunway, and Eastern & Oriental Bhd under the new MM2H program, concerns about competition from neighboring countries persist. Thailand and Indonesia have launched similar programs in recent years, intensifying the competition for attracting foreign residents.

TA Research, maintaining an “overweight” stance on the property sector, anticipates positive effects on the real estate market but suggests the removal of the high monthly income requirement to enhance the program’s appeal. Comparisons with other countries like the Philippines, Indonesia, and Cambodia, which do not impose stipulated minimum income requirements, highlight potential areas for improvement.

PropertyGuru Asia Real Estate Summit (ARES) 2023, the ninth edition of Southeast Asia’s leading property technology company’s thought leadership platform, recently concluded its highly anticipated event. With a focus on the theme “Powering Communities,” the summit brought together over 400 global delegates for a hybrid conference, delving into the future of communities, business, leisure, and innovation.

The theme “Powering Communities” aligns with PropertyGuru Group’s vision of empowering individuals in their property journeys to live, work, and thrive in tomorrow’s cities. Hari V. Krishnan, CEO & Managing Director of PropertyGuru Group, emphasized the company’s commitment to guiding stakeholders at every step, from homebuyers finding their dream homes to enterprise clients making strategic investments.

The first segment of ARES 2023, titled “Live: Future of Communities,” featured insightful keynote addresses and discussions. Sumana Rajarethnam, Director, South-East Asia, Economist Intelligence Corporate Network, provided a perspective on new economic drivers and the outlook for Asia in 2024. Dr. Edlam Abera Yemeru from UN-Habitat discussed adoptive communities and the creation of Sustainable Development Goal (SDG) Cities, while David Gissen explored the concept of the one-storey city.

The second segment, “Work: Future of Business,” covered topics like the creative evolution of workspaces and hybrid work arrangements. A tech panel led by Manav Kamboj, CTO and Managing Director, Fintech at PropertyGuru Group, discussed the use of A.I. in design, digital twins, and metaverse blockchain technologies.

The morning sessions concluded with a presentation from PropertyGuru For Business, showcasing investments in data science to develop products and solutions for enterprise customers. The session highlighted the company’s commitment to unlocking value for businesses and enhancing urbanism and liveability through data intelligence.

The afternoon sessions, titled “Thrive: Future of Leisure,” featured discussions on building affordability in megacities, destination dining, the rise of pet culture, and demographic changes reshaping property markets. The segment demonstrated a holistic approach to thriving in urban environments, encompassing various aspects of leisure and lifestyle.

ARES 2023 maintained its commitment to diversity, with half of the expert lineup comprising women and/or members of the LGBTQ+ community. The inclusive event featured an Expert Talk on inclusive language in real estate for minorities and people with disabilities, emphasizing the importance of embracing diversity in the industry.

The final segment, “Thrive: The Future of Innovation,” included a keynote from India’s Vinu Daniel, Founder of Wallmakers, who received the PropertyGuru Visionary Award for sustainable designs using mud and debris. The Leaders Panel discussed multi-sector real estate, industry resilience, and challenges in sustainable development, while a talk on the future of digital innovation concluded the summit.

PropertyGuru Week, featuring ARES 2023, Real Estate Leaders’ Roundtable, and the Asia Property Awards Grand Final, celebrated industry excellence and innovation. The week emphasized the company’s dedication to fostering collaboration, innovation, and sustainable development in the real estate sector.

The ARES VIP Cocktail Party honored industry leaders, recognizing their contributions to the spirit of “live, work, thrive.” The Power Women of 2023 included Andrea Savage, Chelsea Perino, Coco Liu, Esther An, Hang Dang, and Joanne Kua.

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