There are 2,947 property units categorised as “overhang” or unsold in Penang as of the third quarter of this year (3Q 2023), said state Housing and Environment Committee chairman Datuk Seri S. Sundarajoo.

According to the National Property Information Centre, 503 of the unsold units are priced below RM300,000, or 17 per cent out of the 2,947 overhang units.

“Most of these unsold units are due to the applicant’s failure to obtain financing from financial institutions,” he said during the winding up session of the state’s 2024 Budget at the Penang state legislative assembly sitting here yesterday.

Sundarajoo added that the state government is always committed and serious about the housing agenda, as set out in the Penang Vision 2030 and the Penang Unity Government Manifesto 2023.

He said the state government will continue to ensure housing development in Penang will be provided in a balanced manner and developed holistically taking into account the needs of the local community.

“The state’s Rumah Mampu Milik (RMM) initiative is a subsidised housing programme borne by the state government or private developers who want to develop housing in Penang.

“Thus, to enable a development to be implemented holistically, there are also costly housing components that need to be taken into account to provide cross-subsidies to RMM housing projects,” he said.

Touching on the implementation of the state’s urban regeneration projects, Sundarajoo said the state government through the Housing Board is ensuring that the supply of RMM can continue, in line with providing ergonomic and comfortable housing to the people of the state.

He said the urban regeneration projects are a strategic step to increase land use and improve the quality of life.

“Five urban regeneration pilot projects will be implemented under the urban renewal guidelines, while other schemes can be applied to the state government through the Housing Board to study their feasibility,” he said.

Source: Bernama

Battery manufacturer INV New Material Technology (M) Sdn Bhd is committing a remarkable RM6.4 billion investment to establish its first-ever manufacturing plant in Penang.

The Penang Technology Park@Bertam in Kepala Batas witnessed a significant groundbreaking ceremony yesterday, marking the commencement of this state-of-the-art facility.

The parent company, Shenzhen Senior Technology Material Co Ltd, globally renowned for lithium battery separators, is overseeing this monumental project.

INV New Material Technology’s chairman Chen XiuFeng proudly declared the strategic importance of the new plant, asserting that it would be the first lithium separator factory in the ASEAN region.

With a comprehensive investment of RM6.4 billion, the project will unfold in two phases.

“The first phase is expected to be completed in 2026, and the second phase is expected to be completed in 2028.

“Once operational, the plant is designed to produce an astonishing four billion square metres of coated and wet-type separators annually,” he said at the groundbreaking ceremony yesterday.

Chen also provided insight into the magnitude of the project.

“Spanning over 66 acres with a total building area of approximately 400,000 sq m, INV is poised to become the largest production base for low-carbon separators in ASEAN and aspires to become a key player in the global supply chain for the industry.

“As a leading enterprise in the separator industry, we will further intensify our efforts in developing the ASEAN market, laying a solid foundation for global development, bringing intelligent manufacturing beyond our borders, and injecting new vitality into the economic development of the ASEAN region,” he added.

Penang Chief Minister Chow Kon Yeow, officiating the ceremony, congratulated INV and Shenzhen Senior Technology Material Co Ltd for achieving this significant milestone.

Chow expressed Penang’s honour in being chosen as the location for INV’s groundbreaking plant, highlighting the state’s well-developed industrial ecosystem.

“The lithium-ion battery separator industry, known for its dynamism, aligns seamlessly with Penang’s core economic activities.

Chow emphasised the state’s commitment to continuous improvement.

“To cement Penang’s position as a hub for advanced manufacturing, the state government has placed a special emphasis on attracting companies with strong commitments in developing cutting-edge technologies and sustainable investing.

He also commended INV for its commitment to environmental responsibility.

“The lithium-ion battery separator industry, with its ties to renewable energy and electric vehicles, aligns perfectly with Penang’s goals for a greener and more sustainable future,” he said.

Chow concluded with an assurance of continuous facilitation and support for strategic investments in both state-developed and private industrial parks.

“We will elevate Penang’s liveability stature and remain dedicated to developing future-proof infrastructure and ramping the talent supply. All of which are poised to ensure a sustainable investment ecosystem in Penang,” Chow concluded.

Source: Buletin Mutiara

Proposed landed housing development by SP City Development Sdn. Bhd. in Butterworth. Situated off Jalan Seri Selayang, a brief drive from the Butterworth Outer Ring Road, this location offers unparalleled convenience. Just a 5-minute drive connects you to the North-South Expressway, while reaching the Penang Bridge takes less than 15 minutes. Within a 3-kilometer radius, an array of essential amenities awaits, which include public schools such as SMK St. Mark and SRJK (C) Li Hwa.

This upcoming development includes 24 terrace homes, featuring two distinct layout options. Currently in the planning stage, additional details will be shared at the official launch.

Project Name : (to be confirmed)
Location : Butterworth
Property Type : Terrace house
Tenure : (to be confirmed)
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units : 24
Indicative Price: (to be confirmed)
Developer : SP City 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.

The Penang government has approved two applications for the construction of foreign workers’ dormitories in Teluk Kumbar.

State Local Government, Town and Country Planning Committee chairman H’ng Mooi Lye said based on the approval that has been certified by the Penang State Planning Committee, an estimated 32,680 foreign workers would be placed in the Teluk Kumbar area.

”The application for the dorm project involves the construction of a 27-storey building block of workers’ dormitories.

”It consists six units of shops on the first level, recreational facilities on the first and second levels and 26 floors of workers’ dormitories involving 512 units on lots 1859, 1860 and 1865 by Chong Company Sdn Bhd,” he told the state legislative assembly sitting on Monday.

H’ng was responding to a question by Mohamad Shukor Zakaria (Pas-Pulau Betong) with regards to the status of the construction of foreign workers’ dorms in Teluk Kumbar.

Elaborating, H’ng said the second application was the rezoning from the general housing zone, coastal reserve zone and existing road zone to the general business zone as well as increasing the height of the building from five to 30 floors for development on lot 1435 and 1437, Mukim 9, Teluk Kumbar by Zantalite Enterprise (M) Sdn Bhd.

“Until now, the Penang Island City Council (MBPP) has only received a planning permission application from Chong Company on June 27 and the application is still in the consideration process,” he said.

Meanwhile, H’ng said, as for now, the locations of lots 1859, 1860 and 1865 by Chong Company were still the same in accordance with the decision of the Penang State Planning Committee on June 25, last year.

“Any proposed location transfer needs to be referred to the state authority for reconsideration,” he added.

Source: NST Online

Penang Development Corporation (PDC) will be the sole developer of industrial parks in the state and these projects will not be given to the private sector, Chow Kon Yeow told the state assembly.

“PDC industrial land banks are in strategic locations and can be marketed to investors in promoted industries,” said the Chief Minister.

Chow, who is PDC chairman, was answering an oral question from Lim Guan Eng (PH-Air Putih) who asked for a list of land PDC has given to the private sector to be developed as industrial parks.

Chow however said there was collaboration on such development as in the case of developing part of Batu Kawan Industrial Park 2 (BKIP2) to reduce the risks and cost of PDC.

“The issue was this land was located in a non-conducive surrounding and PDC needed to work with others to develop the park.

He said PDC has over 50 years of experience to ensure the industrial parks its developed would continue to draw in domestic and foreign investors, especially those lands in strategic locations without involving the private sector.

“We will collaborate with the private sector for high-risk and less competitive areas as PDC has a track record of successfully developing nine industrial parks in the state to ensure a sustainable industrial ecosystem,” added Chow.

Source: TheStar.com.my