Yet another proposed luxury residential development located in the heart of George Town by Biopolis Energy Sdn. Bhd. It is located along Lorong Amoy near Jalan Hutton, just a stone’s throw away from New World Park. Existing shop lots are expected to be demolished making way for a 26-storey skyscraper.

This development will offer 148 units of serviced residences, and commercial space located at the ground level. The will be an 8-level car parking podium with facilities located at level 9.

The project is still pending for approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : George Town, Penang
Property Type : Serviced residence
Built-up Size: (to be confirmed)
Total Unit: 148
Indicative Price : (to be confirmed)
Developer : Biopolis Energy Sdn. Bhd.

Location Map:

About Sanctuary Ridge

The 4th phase of residential development at Permatang Sanctuary by IJM in Alma, Bukit Mertajam. Strategically located within an established neighbourhood, about 15-minute drive from Juru Auto-City and Penang Second Bridge. It is about 2km away from AEON Mall and Tesco Hypermarket.

Find out more about Sanctuary Ridge

Houses in Malaysia are considered “seriously unaffordable” by international standards, a Bank Negara Malaysia official said.

According to the median multiple methodology developed by Demographia International and recommended by the World Bank, United Nations and Harvard University, a house is deemed affordable if it is priced not more than three times the annual household income, said BNM’s Financial Surveillance Department director Qaiser Iskandar Anwarudin.

“The affordability in Malaysia has deteriorated with the median multiple affordability (the ratio of house price to households’ annual income) rising to 4.8 times in 2016 from 3.9 times in 2012,” he told reporters during a briefing here today.

He said most Malaysians could not afford to buy newly-launched houses with the average price standing at RM417,262 while the maximum affordable house price nationwide was at RM282,000.

Qaiser said 73% of unsold properties in Malaysia were not affordable, with Johor recording the highest number of unsold houses followed by Selangor, Kuala Lumpur, Perak and Penang.

However, he said the property market situation in the country had improved with house prices going down at a moderate pace.

He said new launches were targeting affordable houses, compared to the situation in the past.

Meanwhile, he said as of June this year, the housing loan approval rate stood at 74.6% while in the segment for houses below RM300,000, the approval rate was around 70%.

He said almost half of the loans approved this year were for first-home buyers.

Qaiser said 80% of the housing loan rejection was because the house was priced more than three times the applicant’s annual income ratio.

Other reasons were that the applicants were already highly indebted, had a poor financial track record or had incomplete documents, he added.

Nevertheless, he said there were various initiatives to facilitate homeownership, especially for the B40 (lower-income) and M40 (middle-income) household segments, including schemes such as Skim Rumah Pertamaku and Skim Jaminan Kredit Perumahan; monthly repayment assistance such as Skim Perumahan Belia; and the rent-to-own scheme announced in the 2020 Budget.

He said BNM itself had launched the Fund for Affordable Homes early this year with a RM1 billion allocation for two years to facilitate homeownership for B40 households.

The fund, he said, had enabled more than 1,100 households to own a home with a total asset value of RM180 million.

Source: Bernama

Unaffordable housing remains unresolved, and the younger generation might need to lower their expectations and consider renting instead, industry experts said.

The housing problem is centred on soaring prices of properties that are incompatible with people’s income, thus diluting affordability.

National House Buyers Association honorary secretary-general Datuk Chang Kim Loong said aspiring homebuyers should continue renting until they were financially ready to buy homes.

“Buying a house is not as easy as it was 10 years ago. Due to the rising cost of living and escalating house prices, it has become more challenging for the current generation to buy their first home.

“A property is often seen as more than just a roof over your head, especially in the Asian context where properties are seen as long-term security, more so during one’s golden years.

“Acquiring a property will be the single biggest purchase and financial commitment that an average person will make in his lifetime, hence careful thought and planning must be done and it should not be made on impulse or trend.”

He reiterated the importance of being practical, including conducting a detailed calculation on one’s financial viability.

“When homebuyers take a loan that they can’t afford, this will mean that they will have to cut back on other areas. This will leave them having little to no savings for emergencies.”

He said there was no shame in renting a home.

“As the economy is slow, it remains a tenants’ market and those who are renting should search for the best deal and rent a property that they can afford, and yet still be able to save for a house purchase. If need be, they should rent a room instead of an apartment to save cost.”

He was commenting on a statement by a Bank Negara Malaysia (BNM) official on Thursday that houses in Malaysia were considered “seriously unaffordable” by international standards.

Financial Surveillance Department director Qaiser Iskandar Anwarudin said 80 per cent of housing loan rejections was because the house was priced more than three times of the applicant’s annual income ratio.

Other reasons were high debt commitments, poor financial track record and documentation gaps.

However, there are initiatives to facilitate homeownership, especially for the Bottom 40 low-income (B40) and Middle 40 (M40) middle-income households, including guarantee schemes.

Malaysian Institute of Estate Agents president Lim Boon Ping said the government would need to be more conscious when issuing such statements as it might convey the wrong message.

“The BNM official’s statement is dangerous and can send a wrong message to the people. The formula being used to set a basis that our houses are ‘seriously unaffordable’ is flawed.”

Lim questioned the use of housing as a variable, and salary as a constant figure to define affordability.

“The salary I received when I joined the workforce more than 30 years ago, and the wages offered today are not much different.

“However, property prices increases at an average of between three per cent and five per cent annually, due to scarcity of land.”

He said it was common knowledge that banks would take into account one’s salary before offering an affordable loan.

“As long as you are not paying more than 30 per cent of your monthly wages for a housing loan instalment, I don’t think it is fair to sum up that we have ‘seriously unaffordable’ homes.”

Source: NST Online

Fraser Commercial Center, an upcoming commercial development by Frasers Sunrise Sdn. Bhd. at Alma, Bukit Mertajam. Located off Jalan Rozhan, next to Santuari Commercial Centre by Airmas Group. AEON Mall and Tesco hypermarket is only 5 minutes drive away.

This development comprises a 4-storey commercial building and 38 units of 3-storey semi-detached shop offices.

Project is still pending for approval. More details to be available upon official launch.

Project Name : Fraser Commercial Center (to be confirmed)
Location : Alma, Bukit Mertajam
Property Type : Commercial
Built-up Size: (to be confirmed)
Land Area: (to be confirmed)
Total Unit: 39
Indicative Price : (to be confirmed)
Developer : Frasers Sunrise Sdn. Bhd. (Starise Group)

Location Map:

The first hearing session of the new 2020 assessment rate objections for both councils in Penang will be held starting tomorrow (29 October 2019).

State Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said the hearing of the objections would be held by the assessment appeal task force team at selected locations under the administration of the Penang Island City Council (MBPP) and Seberang Perai City Council (MBSP).

“Every property owner who has filed a protest (against the new 2020 assessment rate) will be invited by a notice to attend the hearing sessions,” he told during a media conference yesterday morning.

Jagdeep also said that MBPP had received a total 54,459 objections or 16.88% out of over 322,000 ratepayers while MBSP had received a total 40,666 objections or 12.42% out of about 327,000 ratepayers.

“Objections from 60 ratepayers will be heard at City Hall while 289 ratepayers will be heard at the Bertam Sports Complex,” he said in a press conference this morning.

Subsequently, hearing will be held continuously until March 2020.

It is understood that only property owners who have made objections during the set period will be invited to attend the session.

For those who are unable to attend, may delegate by letter of authority to a representative. Failure to do so will result in the representative being denied representation in the interests of the dissent.

The sessions will be held at several locations as stated in the hearing notice. These include:

Penang Island City Council

• City Hall, Jalan Padang Kota Lama
• Bilik Perdana, KOMTAR
• Balik Pulau Sports Complex

Seberang Perai City Council

• MBSP Sports Complex, Bertam
• MBSP Branch Office, Jalan Betek
• Sony Complex
• MBSP Jawi Branch Office

About six million Malaysians who live in strata properties will “benefit” from a Court of Appeal ruling that all owners in mixed development strata properties pay maintenance rates based on a fixed formula.

“It is not only high-rise buildings but also gated and guarded communities that have strata titles,” said Strata Owners Association Malaysia (SOAM) pro-tem committee chairman Datuk Theng Book.

The court decision, he added, was good and fair to everybody.

Explaining the impact of the ruling, he said: “Take a scenario where a mixed development property has a residential block comprising 100,000 share units and a commercial block comprising 100,000 share units.

“The residential block is made up of 300 apartments or residents, but the commercial block is owned by the developer that can be represented by one or two persons.

“Even if half of the residents’ group turned up at an annual general meeting (AGM) called by the Joint Management Body (JMB) committee, they are still in the minority compared to the developer’s side which makes up the majority.

“As the majority shareholder, those from the commercial block can vote on decisions that impact everyone in the mixed development property.

“They could decide that the residential owners pay RM5 per share unit (psu) for the maintenance fee, while the commercial owners pay a lower rate of RM1 psu,” Theng said.

On Oct 4, the Court of Appeal ruled that JMBs of high-rise buildings were not allowed to charge different rates on owners in mixed development projects.

It overturned a High Court decision that the JMBs had the right to fix different rates of service or maintenance charges for different parcels in such projects.

With the Court of Appeal’s ruling, Theng said a flat maintenance rate for all could be fixed at the AGM to ensure fairness for all parties.

“The decision has a great impact on many people, as about six to seven million of the Malaysian population stay in strata properties,” he added.

It would also impact gated and guarded communities that have strata titles “because residents living there share common properties and services such as roads, drainage, sewerage system, security, rubbish collection and parking”.

Theng noted that the Housing and Local Government Ministry had a task force looking into amending the Strata Management Act.

“There are many loopholes in the Act that the government needs to amend to better represent the rights of strata owners in Malaysia.

“These include the maintenance rate, tender system and abuse of power by majority unit shareholders,” he said.

SOAM pro-tem committee secretary Kelvin Chong said there had been complaints about unfair payment rates and unfair voting rights based on share units.

Prior to the Court of Appeal’s decision, he said a common scenario was such that residential unit holders would be subsidising the maintenance charges for commercial unit holders in a mixed development property.

“For example, a JMB for a mixed development property in Kuala Lumpur decided that the retail unit owner should pay RM0.20 psu, but the residential unit owner pays RM2.70 psu.

“Is it fair for both parties to enjoy the same voting rights if the bigger shareholder pays less?” he asked.

Under the First Schedule (Section 8) of the Strata Management Act, he said there was a fixed formula to calculate the allocated share units of parcels.

“The formula includes the weightage factor for the types of parcel such as residential, office, retail or hotel, as well as whether the property has air-conditioning in common areas and lift facilities,” Chong added.

He said SOAM represented strata property owners, most of whom were individuals, although it also welcomed developers.

The national body, which has submitted its application to be registered with the Registrar of Societies, covers Johor, Kuala Lumpur, Melaka, Negri Sembilan, Penang, Perak and Selangor.

Source: TheStar.com.my

MAPEX has been one of the feasible platforms in gathering interest for property purchasing as the previous venture made a grossing sales of RM300 million, with more than 200 applicants in salvaging government-linked homes. As the Co-Organizer of MAPEX, Property Queen’s dedication and commitment ensuring home ownership among Malaysians will receive positive participation through the consistent support that is invested through the making of this event. The participation will justify Property Queen’s practice in providing comprehensive service to the consumers and facilitate them in searching for the next future dream home.

This November, Penang will once again be graced in red when MAPEX will be held in 2 locations for 2 consecutive weekends.

Queensbay Mall
Date: 7th- 10th November 2019

Gurney Plaza
Date: 14th – 17th November 2019

About Imperial Grande

A mixed development by Modular Platinum Sdn. Bhd. (Ideal Property Group) in Sungai Ara, Penang. It is located along Jalan Fettes, surrounded by Iconic Skies, Gardens Ville and Imperial Residence. This development will offer a mix of landed and high-rise properties, with 2 level of shop offices located below the residential tower.

Find out more about Imperial Grande

Sinaran Residences @ Utropolis is the residential component in the third phase of Utropolis development by Paramount Property at Batu Kawan, Penang.  It is strategically located along Bandar Cassia Expressway, with walking access to Design Village outlet mall and UOW MALAYSIA KDU Penang University College. Driving to Penang International Airport will only take approximately 30 minutes via Second Penang Bridge.

This development will feature two blocks of 35 & 36-storey serviced apartments, offering a total of 982 residential units with unit size ranging between 667 sq.ft. – 1,044 sq.ft. Larger units will come with a dual-key concept.

More details to be available upon official launch.

SOFT LAUNCH

3 November 2019, 11am – 6pm
Paramount Property Sales Gallery @ Design Village

– Please call 012-501 0733 to RSVP by 31 October 2019 –

Project Name : Sinaran Residences @ Utropolis
Location : Batu Kawan, Penang
Property Type : Serviced Apartment
Built-up Area : 667 sq.ft. – 1,044 sq.ft.
Total Units: 982
Indicative Price: (to be confirmed)
Developer : Paramount Property

Location Map:

The government has no plans to integrate the Malaysia My Second Home (MM2H) programme with the Home Ownership Campaign (HOC), as the two schemes have different objectives, said the Housing and Local Government (KPKT) Minister Zuraida Kamaruddin.

“Both programmes have different objectives and target segments: One is targeting Malaysians with the objective to encourage home-ownership, while the other is aimed at attracting foreign investors,” Zuraida stressed during Parliament session today.

The minister said in a written reply to Ketereh lawmaker Tan Sri Annuar Musa’s queries on the government’s plans of selling luxury home units (homes priced above RM1 million) to foreigners and its implication on the local property market.

Zuraida noted that HOC is a programme that caters specifically to Malaysians only to enable them to own a home with incentives provided by the government and also discounts from the developers.

MM2H, on the other hand, is a governmental initiative to attract and provide an opportunity for high-income foreigners (subjected to fulfilment of certain requirements) to reside in Malaysia and contribute to the economy, as well via a number of sub-sectors like investments, property and education, among others.

Successful MM2H applicants will be given a social visit pass with a multiple-entry visa for a period of 10 years, which can be renewed.

Reduce unsold properties to boost economic growth

Based on data from the National Property Information Centre (Napic) for 2Q2019, there are 4,213 unsold home units priced at RM1 million and above amounting to some RM8.3 billion.

“If these properties could be sold to foreigners, it could help to reduce the oversupply of luxury properties, hence, encourage economic growth as a whole,” she added.

For those who worry about the lowered price threshold for foreign property buyers affecting local home ownership, Zuraida said that the state governments have their own guidelines for foreign homeownership to prevent developers from building luxury homes solely for foreigners and property price speculation.

Additionally, the number of homes purchased by foreigners from January to June this year stood at just 0.4% or 398 units compared with 99,524 units for Malaysians (99.6%), according to Napic.

“This shows that the property market for foreigners is still under control,” added Zuraida.

Based on data from the Ministry of Tourism, Arts and Culture (MOTAC), the number of property transactions from 2007 to 2018 by MM2H holders recorded some 5,108 units in which a majority (2,097 units) are from China.

“Therefore, the government via Budget 2020 decided to lower the price threshold for foreigners to purchase high-rise residential properties in urban areas to RM600,000, from RM1 million, for one year without denying the rights of eligible locals to purchase similar properties,” explained Zuraida.

In encouraging local homeownership, the minister noted that the government has introduced several initiatives to help homebuyers such as the HOC, flexi-loan schemes, Cagamas SRP Bhd youth scheme guarantees and more.

According to her, some 21,000 units worth RM13.44 billion have been sold under the HOC since January 2019 – substantially more than the initial target of RM3 billion.

“Thus, the HOC was extended to December 2019 to allow more Malaysians to own a home at a discounted price on top of stamp duty exemptions provided by the government,” added Zuraida.

Meanwhile, Zuraida noted that the FundMyHome crowdfunding platform, which was developed by EdgeProp Sdn Bhd, is also another alternative way to facilitate homeownership.

Source: EdgeProp.my

The Penang state government is working with a private company to develop a RM10 million coastal resort and spa in Batu Ferringhi, Chief Minister Chow Kon Yeow said.

He said this was to develop another tourism product for the state.

In his speech for the state’s 2020 budget, he said the project was public-private partnership initiative.

“This international standard project will offer between 80 and 100 rooms, spa service and beach tourism facilities,” he said.

He said the state government was optimistic that the project will spur the state’s tourism sector while contributing towards the local economy.

Chow said Penang has received recognition as one of the best travel destinations in the world, one of the top five destinations to retire, one of the 21 top beach destinations by International Living, one of the 19 cheapest travel destinations by Insider, the most loved state for tourism by Going Places Reader’s Choice Award 2018 and George Town was also named one of the most beautiful cities in Asia by CNN Travel.

“So, Penang will continue to attract more tourists to our state through the campaign ‘Experience Penang Year 2020’ with the tagline Celebrate Asia’s Diversity,” he said.

Penang is also known as an ecotourism destination and its main ecotourism site, Penang Hill, recorded 1.9 million visitors this year compared to 1.74 million last year.

Chow announced an allocation of RM15.4 million for various projects at Penang Hill.

He said the state thanked the federal government for its RM100 million allocation to build a new cable car system for Penang Hill.

He stressed that the project is still subject to feasibility studies and approvals by the relevant authorities.

“To ensure the safety of visitors, we had already spent RM10.9 million this year to stabilise the slopes in the middle station, mosque, temple, Bel Retiro and the Upper Tunnel area,” he said.

In addition to that, the slope stabilisation works along Viaduct West Road, Lower Tunnel Road, Edgecliff bungalow, Upper Station and along the funicular tracks will be completed by the end of 2020.

“The redevelopment of Category II heritage bungalows on the hill to be turned into Hillside Retreat will be given attention,” he said.

He said the state is applying for the Unesco Biosphere Reserve status for Penang Hill to protect the biodiversity of the hill.

“We have already written to the Water, Land and Natural Resources Ministry to forward it for approval by the Cabinet before it is sent to Unesco,” he said.

Chow then announced a total allocation of RM35.8 million for the tourism sector for 2020.

Source: MalayMail.com

Terraces Condominium, the latest residential development by IJM Land in Bukit Jambul, Penang. Strategically located on a 9.32 acres land next to INTI International College. It is just a mere minutes drive from Bukit Jambul Golf Course, about 7km to Penang Bridge.

This development comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from. Indicative price starts from RM531,000 onwards.

More details to be available upon official launch.

Project Name : Terraces Condominium @ Bukit Jambul
Location : Bukit Jambul, Penang
Property Type: Condominium
Total Units: 410
Built-up Size: 925 sq.ft. & 950 sq.ft.
Indicative Price: RM531,000 onwards
Tenure: Leasehold
Developer: IJM Land
Expected Completion: 2022

Location Map:

The Pan Island Link 1 (PIL 1) and the Light Rail Transit (LRT) projects are at “the tail-end” of securing the necessary approvals, Chief Minister Chow Kon Yeow said.

He said the state government has been working with SRS Consortium to finalise the master agreement for the two major components of the RM46 billion Penang Transport Master Plan (PTMP).

Once they have been approved, he said the project delivery partners can move to the next important phase of work — the design of the projects — before calling for tenders “maybe during the second month of next year” and moving on to the construction phase.

Chow was speaking at the 45th anniversary dinner of the Penang Real Estate and Housing Developers’ Association (Rehda) here yesterday.

PIL1 is a 19.5km toll-free highway from Gurney Drive to the Tun Dr Lim Chong Eu Expressway near the Bayan Lepas Free Industrial Zone IV. It consists of a 7.6km viaduct, four tunnel sections totalling 10.1km and embankment sections totalling 1.8km.

The LRT project will cover a 29.9km route from Komtar to the Penang International Airport. It will also connect to the three future reclaimed islands to the south of Penang island, estimated to cost RM8 billion. It will have 27 stations.

Source: FreeMalaysiaToday.com

A newly proposed serviced residence development by VIP Service Suite Sdn. Bhd. in the heart of George Town. Located on a small piece of land along Western Road (Jalan Utama), adjacent to Penang Jail. It is just a mere minutes drive to Dato Keramat Market, about 3km away from KOMTAR.

This development will see the demolition of the two existing bungalow buildings for the construction of a 23-storey serviced residence. Featuring 89 residential units with facilities located at level 2 & 22.

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

Project Name : (to be confirmed)
Location : George Town, Penang
Property Type : Serviced residence
Built-up Size: (to be confirmed)
Total Unit: 89
Indicative Price : (to be confirmed)
Developer : VIP Service Suite Sdn. Bhd.

Location Map:

The Chief Minister of Penang Incorporated (CMI) has been given the mandate to spearhead the initiative of calling for a Request for Proposal (RFP) for the development of a site in Batu Ferringhi into a Coastal Resort and Spa.

Chief Minister Chow Kon Yeow said the 4.2-acre land, at PT 223, Section 2, Bandar Batu Ferringhi, had been vacant for years.

“It was an old relocation site for the Penang tsunami victims. There were temporary houses for the victims in the past. The site was under the purview of CMI.

“There was a Request for Proposal in the past but there was no suitable proposal at that time.”

The proposed site is located between the Moonlight Bay beach and Miami beach.

Chow said the project was proposed to be undertaken by a private entity (also known as a project sponsor) based on the BOT (design and build – operate – transfer) framework.

“The lease period is 30 years, thereafter, options will be given to renew another two 30-year periods, consecutively from the date when the offer is accepted.

“The project sponsor must provide convincing evidence that it has a strong financial backing with a minimum paid up capital of RM5 million and can successfully arrange financing for the project.

“The estimated cost of the project ranges between RM10 million and RM100 million, depending on the number of proposed rooms (up to 100 rooms) by the project sponsor.

Chow said that interested bidders could propose other amenities (not stated in the development programme listed in the RFP) that they deemed fit, subject to the appropriateness of the development.

“According to the development programme, the project sponsor is required to propose a five star or above hotel facilities with spa concept and to create a low density, niche and unique tourism product to position Penang as an attractive international tourist destination,” he told a press conference at Dewan Sri Pinang today.

CMI deputy general manager S. Bharathi said the proposed project would bring the state’s tourism to a greater height.

“Interested parties can buy the RFP documents and submit them to CMI. CMI will then conduct its assessment on the bidders before presenting the proposals to the state executive council,” she said.

An RFP has been called on Nov 1 this year. The closing date for the RFP is on Dec 31 this year. Bidders are requested to submit their proposals before noon on Dec 31.

The RFP can be downloaded from the Penang government portal at http://www.penang.gov.my/

The completed proposal should be sealed in an envelope. The title ‘Request for Proposal For The Development Of Coastal Resort and Spa, North East District, Penang, Malaysia’ must be clearly marked at the top right-hand corner of the parcel.

Bidders can submit their proposals to The Secretariat, Chief Minister of Penang Incorporated (CMI), Level 47, Komtar, 10503 Penang, Malaysia.

For further details, call 04-650 5711 / 04-650 5679.

On a separate note, Chow said that the state government had received a proposal from a private company to build a mixed development project on a 300-acre land; proposed to be reclaimed off the coast in Batu Ferringhi, near the Batu Ferringhi Army Camp.

“The private company has proposed to build a mixed development project, comprises hotels, commercial lots and service apartments.

“The Penang government has received various proposals throughout the year.

“As for this private company, it still has to undergo a long process to obtain the necessary approvals.

“The state can opt to call for an RFP despite it being proposed by a company,” he said.

Meanwhile, Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said that the private company had not submitted any master plan pertaining to the proposed mixed development project.

“It is still in its early ‘proposal stage’. The state government will view the 300-acre land reclamation proposal when the master plan is submitted,” Jagdeep answered a written question at the State Legislative Assembly.

Source: Buletin Mutiara

Havana Beach Residences, the latest affordable housing development by Ideal Property Group at Bayan Lepas. Strategically located near Jalan Tun Dr. Awang, adjacent to Sunsuri Residences and the upcoming Maldives Residences. It is less than 2km away from Penang International Airport, about 5 minutes walking distance to  SMJK Heng Ee (Bayan Baru branch).

This development will feature a 50-storey residential building offering 1,342 affordable units with a standard built-up size of 850 sq.ft. Indicative price starts from RM393,000 onwards

The project is now open for registration. More details to be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Full list of affordable housing in Penang
• Eligibility and the requirement of buying affordable housing

Project Name : Havana Beach Residences
Location : Bayan Lepas
Property Type : Affordable housing
Tenure: Freehold
No. of Storey: 50
Built-up Size: 850 sq.ft.
Total Units : 1,342
Indicative Price : RM393,000 onwards
Developer : Ideal Property Group

Location Map:

Picture for illustration only

The Penang government is inviting world leading architects and town planners to take part in the Penang South Islands International Masterplan Design Competition (MDC).

Chief Minister Chow Kon Yeow said the Penang South Reclamation (PSR) project would be ‘temporarily’ named as the Penang South Islands (PSI) until the competition ends.

The competition is a collaboration between the state and the Malaysian Institute of Architects (PAM) Northern Chapter under the Board of Architects Malaysia (LAM).

“The RoI process is now open and the deadline is at 5pm on Nov 25.

“Participants are welcomed to form consortiums comprise of multidisciplinary experts; such as in smart city, economics, engineering, technology and innovation, mobility and transportation, landscape, sustainability and environmental design,” he told a press conference during the lunch break of State Legislature Assembly in Dewan Sri Pinang today.

Chow said that the state government had allocated RM5 million for the competition, which includes publicity.

According to the competition website, the qualification process would be conducted in two phases – the RoI and the Expression of Interest (EoI).

Successful RoI participants would be invited to take part in the EoI process. Participants shall bear any cost incurred for the RoI and EoI submission as there are no design works required at the qualifying stage.

Five finalists will be shortlisted after the qualification process.

Chow said that the state was giving out an honorarium of US$125,000 (RM510,000 at this current exchange) to each of the finalists to participate in the MDC.

The commencement of the design stage is scheduled to be on Jan 8 next year (2020). The deadline for the design stage submission is 5pm on April 8 next year (2020).

Chow said that the proposal deemed most suitable by the Master Jury panel would be appointed by the state as the lead master plan designer, subject to terms and conditions.

He said design proposals would have to adhere with the conditions imposed by the National Physical Planning Council (NPPC).

“This includes sustainability, transportation, affordable housing and greenery.

“This PSI project will transform Penang to be a main investment hub with an international tourism standard,” he said.

Also present were SRS Consortium project director Szeto Wai Loong and state Financial Officer Datuk Sarul Bahiyah Abu.

PROJECT SITE

For more details, visit https://pg-mdc.com/

Source: Buletin Mutiara

About The Amarene

Part of Ideal Vision Park development by Ideal Homes in Bayan Lepas, Penang. This development is strategically located along Jalan Tun Dr. Awang, adjacent to Tree Sparina condominium. It is just a mere minutes drive to Straits International School and Penang International Airport. Featuring a 35-storey condominium that offers 410 residential units with built-up size ranges from 1,100 sq.ft to 1,200 sq.ft.

Find out more about The Amarene

In line with the Penang State Government’s vision, and the intention to further develop Penang as a major destination for tourism, the Chief Minister of Penang Incorporated (CMI) is inviting proposals for the development of a 4.2 acres landmark site along the northern coast of Penang into a Coastal Resort and Spa Development.

The project site is expected to be developed into luxury resort accommodation as a new benchmark for high-end tourism products for Penang. The feature highlights include:

Full-service Spa Resort with not more than 100 guestrooms

• Reception and other guest facilities;
• Swimming Pool;
• Restaurants and other F&B outlets;
• Function Room;
• Ample parking area

The Request for Proposal (RFP) is now open for submission.  Bidders can submit their proposals to The Secretariat, Chief Minister of Penang Incorporated (CMI), Level 47, Komtar, 10503 Penang, Malaysia before noon on 31 Dec 2019.

Location Map: