Saturday September 17, 2005


Chew Piau’s comeback

BY DARSHINI M. NATHAN & JOSE BARROCK


SINCE Tan Chew Piau's absence of more than a decade from the public eye following the disposal of his controlling stake in his listed vehicle Chew Piau Bhd, there has only been mild curiosity surrounding his activities.

In recent months, however, reference to the construction magnate who later diversified into property development is popping up quite regularly. Recently, it was announced that one of his property assets – CP Tower in Petaling Jaya – would be sold to CIMB-Mapletree Management Sdn Bhd. There was also talk that Eastin Hotel, Tan's sole hotel asset, was up for grabs.

News of this kind has naturally given rise to the question of whether Tan is withdrawing from the local real estate scene for good.

As it turns out, this could not be furthest from the truth.

Tan is making a comeback - in a really big way.

He has sunk his teeth into a 73-acre chunk of abandoned land on Penang island. The original project that was destined for the area has now been revived and reworked and is estimated to carry a gross development value of more than RM1bil. This will be enough to keep Tan busy over the next five years at least.

Having grouped his team together for the mammoth task, Tan is now intent on bringing to fruition the largest integrated township folks on the island have ever seen. And with it, he aims to introduce lifestyle concepts, which until now have been almost exclusively targeted at Klang Valley urbanites.

Under the renamed Queensbay development, the CP group intends to launch a string of high-end offerings in Penang's Bayan Lepas area to attract the more discerning home buyers.

“It is a lifestyle that we are bringing to the purchasers and that will be the project's major draw. The Penang market is certainly big enough to cater to exclusive upmarket developments like this. It is a very niche market and there are enough affluent people there to absorb products like these,” Tan, who is the group's executive chairman, tells Bizweek.



Opportunity comes knocking

http://biz.thestar.com.my/archives/2005/9/17/bizweek/bw_01chewpiau.jpg
Chew Piau

Tan's involvement in the stalled project is hardly coincidental. The CP group was identified by the project's original owners as the developer most suited to undertake the rescue of the Bayan Bay development, as it was formerly known.

“I was called because of my track record in construction and property development. I have rescued other projects in the past as well,” he says.

The project's original developer was Bayan Bay Development Sdn Bhd, which was 70% owned by Anson Perdana Bhd and 30% by Penang Development Corp. Anson Perdana fell into financial distress following the Asian financial crisis (Anson Perdana is now under liquidation).

The prolonged adverse economic conditions following the crisis saw to it that several earlier attempts to revive the project fell flat. “There were just too many risks involved in embarking on such a large-scale development,” Tan says.

Coupled with that is the fact that one of the rescue conditions is that the white knight would have to first complete the megamall, the project's largest component.

Bayan Bay Development stipulated this for the sole reason that the situation had become untenable for those who had purchased units within the mall prior to the project being shelved.

“Many had taken loans and are currently servicing them with nothing to show for it. So there was some political pressure to complete the mall as well.

“But this condition also means that a massive capital commitment is required upfront... easily more than RM200mil. This is what put off a lot of potential investors,” Tan comments.




The work begins now

http://biz.thestar.com.my/archives/2005/9/17/bizweek/bw_12queensbay.jpg

Tan has worked this little twist into his strategy to good effect. He reckons that completing the megamall first would work to his advantage, as it would give the area the critical mass required to attract purchasers to take up the corporate offices and retail office suites that will be launched later.

To this end, the modified plan has increased the mall's net lettable area to 1.2 million sq ft from the 1 million sq ft planned initially. The completed mall will stretch over half a kilometre and span a gross area of 2.6 million sq ft. Jusco has signed on as an anchor tenant.

Tan says the mall has all the makings of a regional shopping destination. The mall will be positioned to cater to the middle-to-upper class segments.

“Penang lacks properly managed malls. Most of the lots in the malls are sold as individual units and as such there is no control over what the owners do to them. Here, we have controlling rights and we will undertake the management of the entire mall,” he elaborates.

Work on Queensbay's first phase, which will comprise shop offices, landed properties, condominiums and the shopping mall, commenced in the second quarter of this year.

The RM500mil that is required to fund the first phase of the project will be obtained via a combination of internally generated funds and borrowings.

Given that construction of the mall is a month and a half ahead of schedule to-date, Tan says the targeted opening of the complex has now been brought forward to October 2006 as opposed to the mid-2007 deadline stipulated under the scheme of arrangement with the project's original owners and creditors.




The icing

http://biz.thestar.com.my/archives/2005/9/17/bizweek/p13_Queensbay.JPG

Arguably, the principal attraction of Queensbay will be its prime waterfront and Tan has every intention of exploiting that aspect of the project.

“We will have a lot of developments that face the waterfront as well as exclusive residential developments in the form of gated communities.”

The pricing of the residential units such as the semi-detached units and waterfront bungalows and villas will be in the range of RM800,000 and RM2.5mil.

A property consultant reckons that the CP group's residential units should be well received given the buoyant demand for upmarket lifestyle offerings on the island.

“Properties in Penang priced upward of RM1mil tend to attract a bigger market segment as interest would not be restricted to Penangites alone. Instead, such developments tend to garner a substantial portion of sales from investors from Hong Kong and Singapore,” he says.

Still, location is a crucial determinant of a development's success. And thus far, the high-end offerings in Penang have been concentrated along the Northeast corridor.

In fact, E&O Property Development Bhd is set to launch the first phase of its Tanjung Pinang mixed development project along Tanjung Tokong on Penang island soon.

The 980-acre development on reclaimed land will feature a mixture of landed residential and commercial properties.

There too the initial plan was reworked when Datuk Terry Tham Ka Hon took over the project so that the earlier 20:80 residential-commercial mix was reversed in order to capitalise on the area's pent-up demand for landed residential units.

“Locations like Tanjung Bungah, Batu Feringgi and Gurney have always been highly sought after because of the aesthetic value and prestige of the area. Bayan Lepas, on the other hand, hasn't carved an image as an upmarket area so pricing in this case could be the make or break factor,” the consultant says.

He also cautions that recent years have seen a number of renowned developers from the Klang Valley moving up north to entice homebuyers in Penang. “Most of them appear to be going after the same segment. So, if demand is constant, this could lead to slower uptake for newer developments”.

And with the country's inflation rate at a record high, up-graders could be forced to hold out for economic conditions to improve before committing to a pricier investment.

“At times of uncertainty, upmarket developments tend to take a back seat to affordable housing. A lot depends on sentiment and where people feel the economy is headed,” a property analyst with a foreign research house says.

Elsewhere, a plan is underway to inject Tan's remaining property asset, Eastin Hotel and construction outfit Tanigra Construction Sdn Bhd, into listed entity Tenco Bhd.

It stands to reason that should the reverse takeover of Tenco go through, the follow-up to the plan would be to inject the Queensbay project into Tenco. In fact, this could very likely have been the ultimate objective of undertaking a reverse takeover of Tenco.

The injection of Queensbay into a listed vehicle will ensure that the funding required for the mammoth-sized project does not become an issue.

Tenco's proposed revamp plan involves the transfer of its listing status to Tanigra Construction. Tanigra is to acquire the entire interest in Tenco which will be satisfied via the issuance of 37 million new Tanigra shares. This works out to a share swap of 7 new Tanigra shares for every 10 Tenco shares held.

some old pics of the abandoned mall

http://img274.imageshack.us/img274/6821/bayanworldmegamall14ao.jpg

http://img274.imageshack.us/img274/2051/bayanworldmegamall25hp.jpg

AT LAST!! shes back on track after soo many years! :cry: does that mean construction will start soon? :)

To this end, the modified plan has increased the mall's net lettable area to 1.2 million sq ft from the 1 million sq ft planned initially. The completed mall will stretch over half a kilometre and span a gross area of 2.6 million sq ft. Jusco has signed on as an anchor tenant.

does that also mean that this baby will be the biggest/largest mall in Penang after its build!? :runaway:

Construction has already resumed for months. My mum's office is near that area. I can see that they are rushing on it, can see them working even at night.

Briliant!! jlshyang, thx forda update dude! boi.. finally i can see this eyesore get build.. :cry:

Great news. Finally there is something to talk about. ;)

Err..where is the exact location of this project by the way?

Hopefully by the time I go back next time, the construction is done.

When are u coming back?

Hhaha this is a tough question... I also dunno... maybe year end?

Hhaha this is a tough question... I also dunno... maybe year end?

No wonder lar you having a hard time to answer.

MAYBE only liao :lol:

Okay.....since the words is out....hehehehe.......my friend told me in June that this project is gonna be resumed but she asked me to keep it a secret. :D

So I dare not say it out ler hehehehe.......

She's working on something for the mall actually ;)

Great news. Finally there is something to talk about. ;)

Err..where is the exact location of this project by the way?

its near the airport and next to penang gold coast(south of penang).. (TYW+Pab correct me if im wrong) :okay:

Talking of Gold Coast, didnt Selangor have a Gold Coast plan few years back for her coastal towns? What is happening there?

Okay.....since the words is out....hehehehe.......my friend told me in June that this project is gonna be resumed but she asked me to keep it a secret. :D

So I dare not say it out ler hehehehe.......

She's working on something for the mall actually ;)

It is quite obvious actually with the lights all switched on at night and the big cranes moving around. I really hope to see another mall coming up in Penang but hopefully it doesn't turn out like another Prangin Mall or Bukit Jambul Complex.

It is quite obvious actually with the lights all switched on at night and the big cranes moving around. I really hope to see another mall coming up in Penang but hopefully it doesn't turn out like another Prangin Mall or Bukit Jambul Complex.



Well my gag order is only until the press mooted it out......I din even know they restarted construction already. ;) When my fren told me, they haven't started yet :)


Many Penang shopping complexes have poor control over their tenant mix because the lots are usually up for sale. KL malls (also some Penang malls like Gurney Plaza) usually have lots just for rental. And the mall owners are strict and rich enough to control the tenant mix ;) Sad to say.....Bkt Jambul Complex and Prangin Mall are quite 'ah beng' .......even Sg. Wang (which is one of the most 'ah beng' malls in KL) have better tenant mix. :D

Bkt Jambul... Ohh quite a lovely township... I stayed in Vistana in that area during my field work in Penang and the room i had was fantastic! But too bad I didnt know how to drive to Gurney (it was a Saturday nite u see...) Was sposed to chill-out in this Chill-Out place... Nonetheless, Bkt Jambul has quite a number of nice cafes etc and I had my late dinner at a very friendly Teochew Porridge corner shop opposite Bkt Jambul Complex. Yeah I agree that Bkt Jambul complex is abit crappy... It does not compliment its surroundings... But it's certainly better than Island Plaza which is pretty much left empty (the complex really owe a big thank you to Fitness First).

Talking of Fitness First, there's this gym centre on Gurney that resembles Fitness First (similiar logo) but is not Fitness First... forgot the name... copycat to the max!

Well my gag order is only until the press mooted it out......I din even know they restarted construction already. ;) When my fren told me, they haven't started yet :)


Many Penang shopping complexes have poor control over their tenant mix because the lots are usually up for sale. KL malls (also some Penang malls like Gurney Plaza) usually have lots just for rental. And the mall owners are strict and rich enough to control the tenant mix ;) Sad to say.....Bkt Jambul Complex and Prangin Mall are quite 'ah beng' .......even Sg. Wang (which is one of the most 'ah beng' malls in KL) have better tenant mix. :D

Yeah, that's right! 'Ah Beng' mall, hahaha. I only go to those malls for a purpose, to get cheap and affordable stuff, eg. gifts within a certain budget or DVDs and games. Other than that, it's not such a good place to shop or hang out.'Ah beng' shoppers and all those noisy arcades with illegal gambling machines which are still operating til today + ah bengs puffing their way.

Bkt Jambul... Ohh quite a lovely township... I stayed in Vistana in that area during my field work in Penang and the room i had was fantastic! But too bad I didnt know how to drive to Gurney (it was a Saturday nite u see...) Was sposed to chill-out in this Chill-Out place... Nonetheless, Bkt Jambul has quite a number of nice cafes etc and I had my late dinner at a very friendly Teochew Porridge corner shop opposite Bkt Jambul Complex. Yeah I agree that Bkt Jambul complex is abit crappy... It does not compliment its surroundings... But it's certainly better than Island Plaza which is pretty much left empty (the complex really owe a big thank you to Fitness First).

Talking of Fitness First, there's this gym centre on Gurney that resembles Fitness First (similiar logo) but is not Fitness First... forgot the name... copycat to the max!

It's quite a distance frm Vistana to Gurney but it can never beat the distance in KL la since the island is so small, haha. Bukit Jambul is mainly a residential area. I don't think there will be much activity there until the Queensbay Mall is ready + the Crystal Point 2 project ala Gurney Place can take off again and after the completion of Giant Hypermart.
I'll be moving into Sg Ara housing area soon which is very near Bt. Jambul so i'm hoping that all those projects will be completed when i move there, lol.
If not i'd rather stay in my current place, Greenlane, strategic location in the middle of both Bt Jambul and downtown.

hmm...Island Plaza. It's such a waste. Used to be quite a nice place catering the upper class community but it's constructed at the wrong timing, during the economic crisis and eventually Gurney Plaza took all away from it, haha. Hope they could revive it though with Metrojaya opening in Island Plaza at the end of the month and i can see that Penangites are getting wealthier nowadays and more willing to spend, check out the residences in Pearl Hill, Tg Bungah, Jesselton, Bt Jambul, the area around Disted College, Sungai Ara, Hargreaves Circus, Cheeseman Road, York Road , Ivory residences near USM etc. They are really really impressive!! Wish i could own one, hahaha.

Aiyoh Queensbay? Bayan Bay sounds so much better, so much more natural and tropical-island-resort like, befitting of Penang. There are far too many 'Queens' names around.. Queensland, Queenstown, Queens itself... Besides, which queen is the place being named after? Doesn't seem to me to have any connection with Penang? :)

Yeah!!! I agree!! Bayan Bay sounds so much better then Queensbay!!!
I don't know how on earth did they come up with that name

Is it possible to view a layout plan of the project

does that also mean that this baby will be the biggest/largest mall in Penang after its build!? :runaway:

yes, it will be the largest mall in Penang. it will also be the longest and tallest as well:D

FYI, the current record holders:
Largest: Megamall Pinang
Longest: ?
Tallest: Gurney Plaza

Hopefully by the time I go back next time, the construction is done.

it will open in October 2006. so you wouldn't be comming back till then?? :cry:

Okay.....since the words is out....hehehehe.......my friend told me in June that this project is gonna be resumed but she asked me to keep it a secret. :D

So I dare not say it out ler hehehehe.......

She's working on something for the mall actually ;)

in june?? i knew about the project being revived in March:D

http://www.skyscrapercity.com/showthread.php?t=103273&page=14&pp=20

Aiyoh Queensbay? Bayan Bay sounds so much better, so much more natural and tropical-island-resort like, befitting of Penang. There are far too many 'Queens' names around.. Queensland, Queenstown, Queens itself... Besides, which queen is the place being named after? Doesn't seem to me to have any connection with Penang? :)

i prefer Queensbay actually. it sounds more classy. since George Town is named after King George, so we need a Queen as well?? he he....

Actually, Penang will be full of places with "Bayan" names in the future. currently we already have Bayan Lepas, Bayan Baru. in the future there will be Bayan Gemilang, Bayan Mutiata and Bayan Bay if the name wasn't changed.

Queensbay Mall
http://img46.imageshack.us/img46/794/queensbaymall31nt.jpg

http://img46.imageshack.us/img46/3833/queensbaymall26lg.jpg

http://img46.imageshack.us/img46/1434/queensbaymall19jh.jpg

http://img46.imageshack.us/img46/4208/queensbay14iq.jpg

Wah, nice pix of Queensbay mall

im soo :cry: happy to see those cranes movin round and all over her.. oh boi.. finally! rise baby! reach into the sky! :cry: Queen ofda south!

anyway.. thx forda pics and update TYW! :okay:

in june?? i knew about the project being revived in March:D

http://www.skyscrapercity.com/showthread.php?t=103273&page=14&pp=20


But no details rite? :D My friends working there so got lotsa details ;) Too bad I can't reveal any :(

wow...i'm impressed with the progress of queensbay, surely the properties around that area will shoot up like a rocket when the mall is completed. hopefully it will not end up to be another bj complex.

^^ yeh.. hopefulli not.. but i dont think it'll happen thou.. as u said properties round that area or i called it south side will b real big booom inda future! theres lotsa developements and projects already goin on inda south side dude.. soo i guess, no worries! :okay:

gosh it's so big!

^^ yep! it sure is one huge baby wit a motor inda back of her honda! ;)

But no details rite? :D My friends working there so got lotsa details ;) Too bad I can't reveal any :(

oh you have the details?? i thought you are talking about the mall being resumed

reveal details lah... it won't kill the company lah..:D

^^ Promised here that I can't......but she said that the details would be revealed in stages as their ad campaign is gonna be big ;)

Wow.... so so nice.... when will it be completed?

^^ i think 2008/09.. not sure.. the article on the first page(post no.1) said somethin bout 2008 and 09.. soo..??

^^ Promised here that I can't......but she said that the details would be revealed in stages as their ad campaign is gonna be big ;)

Bummer:(:(:(:(:(:(:(:(:(:(

:jk:

hint also cannot ar??:D:D

so, the details is about the layout or tanents? will it be promising or will it be dissappointing?

^^ i think 2008/09.. not sure.. the article on the first page(post no.1) said somethin bout 2008 and 09.. soo..??

Given that construction of the mall is a month and a half ahead of schedule to-date, Tan says the targeted opening of the complex has now been brought forward to October 2006 as opposed to the mid-2007 deadline stipulated under the scheme of arrangement with the project's original owners and creditors.

it will open middle of next year!! cock eye!! :D

CP: Revived mall to bring in RM42mil sales

CP Group, which has spent RM200mil to take over and rescue the abandoned Bayan Bay MegalWorld Mall in Bayan Lepas, Penang, expects the redeveloped project to bring in revenue of RM42mil in mixed rental in the first year of its operations.

The new shopping mall, named Queensbay Mall, is expected to attract some 15 million visitors a year, executive chairman Tan Chew Piau said.

Construction work on the mall started on July 1 and was ahead of schedule, he said.

''According to the rescue scheme (set by Penang Development Corp, which will slowly phase out its 30% stake over the next five years), we are obligated to complete the mall by July 2007.

''However, we plan to complete it by the end of next year and we will,'' Tan said at the mall's launch in Petaling Jaya yesterday.

The mall will have Jusco stores as its main anchor tenant and 15 junior anchor tenants. International brands like Dorothy Perkins, Guess and Top Shop have signed up as tenants.

Penang Chief Minister Tan Sri Dr Koh Tsu Koon, who officiated at the launch, said the mall could be accessed through the second Penang Bridge that linked the island to the mainland.

Queensbay waterfront project ready in 7 years

The RM1.5 billion Queensbay waterfront project in Penang, undertaken by the CP group, will be fully completed in seven years. The revived project, formerly known as Bayan Bay, has been abandoned since 1997 as a result of the Asian financial crisis.


Since taking over the 73-acre project in July 2003, the CP group has renamed it Queensbay to reflect its importance as a premium development project in Penang.


By the end of next year, the first significant part of the project, the Queensbay Mall, will be ready for shoppers in Penang as well as those in the northern region.


It will have Jusco as it main tenant as well as several other established junior tenants. Jusco signed an agreement with CP group yesterday to occupy 255,000 sq feet of the RM200 million mall.




Tan Chew Piau, chairman of CP group, said the group expects to achieve a revenue of RM42 million in mixed rentals during the first year of the mall’s operations.


Tan said the group has received an encouraging response for the other properties to be built at Queensbay. These include shop offices, bungalows, semi-detached houses, seafront villas, corporate suites and condominiums.


Currently, the CP Group owns 70 percent of the Queensbay project, while the Penang Development Corporation (PDC) owns the remaining 30 percent. Under a restructuring scheme, PDC will relinquish its 30 percent stake in Queensbay within the next five years.




The CP group also owns and operates the Eastin Hotel and CP Tower, both located in Petaling Jaya.

Queensbay Mall: Penang's future retail icon
Sujartha Kumarasamy

http://www.sun2surf.com/images/sun2surf/articles/11472//queensbay1.jpg

PETALING JAYA: Penangites will soon have a new place to shop once the Queensbay Mall opens its doors in December 2006. A revived project by CP Mall Sdn Bhd, Queensbay Mall was unveiled during a signing ceremony between CP Group chairman Tan Chew Piau and Aeon Co (M) Bhd managing director Nagahisa Oyama. Oyama was representing the Jusco group, which will be the anchor tenant at the mall.

"The Queensbay Mall is set to become the pearl in the Pearl of the Orient," said Penang Chief Minister Tan Sri Dr Koh Tsu Koon, who was guest of honour at the unveiling.

The 9-storey mall will have a built-up of 2.5 million sq ft and 500 retail lots, with pedestrian skybridges linking it to the surrounding buildings. Jusco will take up 255,000 sq ft of space on a lease that spans 25 years, joined by 15 other junior tenants.

The mall will also feature international retailers such as Guess, La Senza, Raoul, Dorothy Perkins and Topshop. Apart from some retail lots that were previously sold, lots in Queensbay will be leased from RM4 to RM25 psf. "We're looking at RM42 million in rental income per annum," said June Yeo, executive director of CP Group.

Queensbay Mall will open with 60% occupancy and this is expected to rise to 90% by March 2007. The developers are targeting foot traffic of 15 million visitors in a year.

The RM200 million mall will replace the Bayan World Megamall, which was a feature under the Bayan Bay project. The development, helmed by Bayan Bay Development Sdn Bhd in a joint venture with the Penang Development Corp, stalled in 1998 as a casualty of the Asian financial crisis. CP Group signed an agreement with Bayan Bay Development to take over the project in 2003.

http://www.sun2surf.com/images/sun2surf/articles/11472/queensbay2.jpg

"We committed to this project for three important reasons. Firstly, because of its strategic location. Secondly, our sense that Penang is ready for a top-quality lifestyle development, and thirdly, our strong confidence in the long-term economic prospects of Penang," said CP Group's Tan.

The shopping centre was already 60% complete before CP Group revived the project in July. "According to the rescue scheme, we are obligated to complete the mall by July 2007. However, we plan to complete the mall by the end of next year," said Tan.

Koh said that this stipulation for the mall project to be prioritised was made in consideration of the 200 investors who purchased units in the mall. "We feel they should be given due consideration," he added.

The moniker Queensbay, explained Tan, was chosen because of its feminine element. A feng shui adviser informed them that the Queensbay location would be led by female spending power for the next two decades. "I would say Penang ladies are very lucky," Tan quipped.

The overall development cost for the 73-acre Queensbay mixed-development township is expected to be RM1.5 billion. This will be completed within seven years with 60% of the land set aside for commercial development, since it is strategically located in the Bayan Lepas area, which is part of the multimedia super corridor. The freehold mixed-development project is accessible via major roads like the Bayan Lepas and Jelutong Expressways. A second bridge to be built in the southeastern part of the island means that Queensbay would be sandwiched by two bridges that link the island to the mainland.

Once the mall is completed, the developers will concentrate on building a 4-star hotel that will feature close to 400 rooms. Phase 1 of the Queensbay project will include 3-storey shopoffices (Bay Avenue), 3-storey seafront and garden villas (Bay Villas) and two blocks of 1-storey corporate suites (Bay Suites). It will also include 160 units of medium-high cost condominiums (Bay Star), with a tentative price of RM250 psf onwards.

It is understood that plans for a yacht club that was a feature in the earlier Bayan Bay project has been shelved.

The CP Group began in 1972, with interests in construction, telecommunications and hospitality. Its portfolio includes Eastin Hotel and development projects such as Suria Semenyih, Taman Bukit Serdang and Kota Villas.

The mall will also feature international retailers such as Guess, La Senza, Raoul, Dorothy Perkins and Topshop. Apart from some retail lots that were previously sold, lots in Queensbay will be leased from RM4 to RM25 psf. "We're looking at RM42 million in rental income per annum," said June Yeo, executive director of CP Group.

meaning the 8 screen TGV will still be there?? cool! :cool:

BTW, is JUSCO from Japan??

^^ very cool updates! :shocked: that whole thing is just.. :uh:

The moniker Queensbay, explained Tan, was chosen because of its feminine element. A feng shui adviser informed them that the Queensbay location would be led by female spending power for the next two decades. "I would say Penang ladies are very lucky," Tan quipped.

now i understand why they rename it to 'QUEENS'bay :lol:

meaning the 8 screen TGV will still be there?? cool! :cool:

BTW, is JUSCO from Japan??


Yes....Jusco is from Japan. Where they got say TGV? :?

Queensbay Mall

http://img46.imageshack.us/img46/3833/queensbaymall26lg.jpg




Anyone interested have to call KL numbers......very weird :D

...."female spending power" ..huh....kindda scary :eek2: ...hahaha

tgv was indeed one of the proposed tennants when the mall was still bayan bay. not sure if they'll still be interested to set up their cineplex there.

jusco in japan is more like convenience stores - they are everywhere, just like 7-11.

Yes....Jusco is from Japan. Where they got say TGV? :?

retail lots that were previously sold
^^ i remembered there was a TGV when it was still called Bayan World Megamall. so, they might still be there i think:D

the good news is that the mall will take the mainland traffic away from streets of Georgetown especially Gurney Drive as Gurney Plaza is the most visited mall by visitors from Butterworth and Kedah and the roads in that area just cannot accomodate their traffic whereas the coastal highway should have enough room to accodomate the extra traffic although i cant rule out any form of congestion

^^ i remembered there was a TGV when it was still called Bayan World Megamall. so, they might still be there i think:D
Wah u comprehended the text so ''deep'' :D

Wah u comprehended the text so ''deep'' :D

ha ha...i just happened to think about it;)

latest pics of Queensbay Mall
http://img463.imageshack.us/img463/3173/queensbaymall42fe.jpg

another pic
http://img463.imageshack.us/img463/4338/queensbaymall51cu.jpg

http://img463.imageshack.us/img463/3200/queensbay24wi.jpg
^^the shop offices that were completed before Bayan Bay was abandoned

My turn:D:D
http://img434.imageshack.us/img434/3852/15112005114522pm00186vw.jpg

http://img296.imageshack.us/img296/8829/15112005114528pm00208pf.jpg

My turn:D:D
http://img434.imageshack.us/img434/3852/15112005114522pm00186vw.jpg

i love this angle, it looks so long!
i was trying to get this angle, but my pics turned out blurry.:(

i love this angle, it looks so long!
i was trying to get this angle, but my pics turned out blurry.:(
Great, both of us take different angle:)

New image for ‘Queen of the pearl’
By Fadzil Fauzi

Dubbed the “pearl” in the Pearl of the Orient by Penang Chief Minister Tan Sri Dr Koh Tsu Koon, Queensbay Mall in Bayan Lepas town on the island was recently relaunched by CP Landmark Sdn Bhd with the aim of becoming the State’s most vibrant landmark.

With a built-up area of 2.5million sq ft and 500 retail lots, the nine-storey retail complex, which started off as Bayan World Megamall until the project was abandoned in 1998, will be the largest and the longest mall in the northern part of the country.

The RM200 million project will feature a pedestrian skybridge as well as sunshade canopies that open to the streetscape and overlook the sea nearby.

Jusco, one of the largest superstores in the country, will be the main anchor tenant, taking up 255,000sq ft of space, while another 15 junior anchors will each occupy lots of between 5,000sq ft and 20,000sq ft.

The mall is the first phase of a proposed integrated seafront township called Queensbay, that will cover a 73-acre freehold plot. The township is to be developed in 19 commercial and residential parcels over seven years.

Previously called Bayan Bay, it became a casualty of the Asian financial crisis in April 1998. The original developer, Bayan Bay Development Sdn Bhd, a joint venture between Anson Perdana Sdn Bhd and Penang Development Corp, entered into an agreement in 2003 to revive the development with CP Group.

Speaking at the re-launch, CP Group executive chairman Tan Chew Piau noted that the mall was already 60 per cent completed when the company took over.

“Under the rescue scheme, we have to complete it by July 2007. However, we plan to have the mall ready by the end of next year,” he said.

CP Group executive director June Yeo added: “Apart from retail lots that were sold before we took over, the other units will be leased from RM4psf to RM25psf. We are looking at a rental income of RM42 million per annum.”

According to her, Queensbay Mall, which will feature international retailers such as Guess, La Senza, Roul and Topshop, will open with a 60 per cent occupancy. This is expected to rise to 90 per cent occupancy by March 2007.

“We are targeting 15 million visitors a year, with Penang as the primary catchment area, followed by Kedah and southern Thailand,” said the mall’s retail consultant, Robert Jalleh of Retail Network Sdn Bhd.

“We committed to this project for three important reasons. Firstly, because of its strategic location, secondly, we sense that Penang is ready for a top-quality lifestyle development and thirdly, we are confident in Penang’s long-term econo- mic prospects,” Tan said.

CP Group, he added, embarked on a major re-branding exercise after taking over the development to give it a new image, including changing its name and positioning it as an international project.

Queensbay, which will be developed at a cost of RM1.5 billion, is located within Cybercity, Penang’s Multimedia Super Corridor (MSC), which has so far attracted more than 50 MSC-status companies.

The site is served by an array of road networks, including the Bayan Lepas and Jelutong expressways. Also nearby is the site for the proposed second bridge that will link the southeastern part of the island to the mainland.

In the pipeline are a 400-room hotel, three-storey shop-offices called Bay Avenue, three-storey seafront and garden villas called Bay Villas, two blocks of 10-storey corporate suites named Bay Suites and 160 condos called Bay Star.

- Property Times 05 November 2005 issue -

^^ I heard there's a Penang Cybercity forum coming up sometime this week? Any of you going?

Is there a thread for Penang Cybercity or MSC???

^^ I heard there's a Penang Cybercity forum coming up sometime this week? Any of you going?

Is there a thread for Penang Cybercity or MSC???

isn't the forum over already?? or is this another one??

yeah, there was a Penang Cybercity thread. i think it went missing already

BTW, i found this: http://www.penangcybercity.com/
^^what does that have anything to do with the cybercity:?

BayAvenue investment value increases
Updated : 21-11-2005
Media : Business Times


EASTIN Hotel operator, the CP Group, has sold almost two-thirds of three-storey shop office blocks named BayAvenue in Penang with a total investment value of more than RM51.8 million.

In a statement released recently, the group said the 42 investors in BayAvenue who bought 48 units out of the total 77 units have already seen their investment value appreciate by at least 5 per cent.

Targeted at the middle- to upper middle-class investors, BayAvenue has another 79 registrants of potential buyers for the shop offices.

BayAvenue offers shop offices with a built-up area of 4,440 sq ft for intermediate units and 7,500 sq ft for corner units.

The offices are priced between RM1 million and RM2.5 million.

“BayAvenue is appealing to the market because of its superior location, its value for money and sought after design features.

'There are limited units and it is planned as part of the integrated waterfront Queensbay development,” chairman of CP Group Tan Chew Piau said in the statement.

Queensbay is the revival of Bayan Bay Development Sdn Bhd's Bayan Bay project undertaken by CP Landmark Sdn Bhd.

Bayan Bay was renamed Queensbay after the CP group took over the job this year following several failed attempts by other parties.

This mega project is a new waterfront integrated township that comprises 19 project parcels over 29.2ha of seafront land.

The 19 projects include seafront villas, bungalows, semi-detached houses, a condominium, an international business-class hotel, service apartments, commercial centres and commercial towers and entertainment outlet.

The name Queensbay was chosen as a tribute to women.

The mall will be the largest and longest shopping mall on the island with more than 1 million sq ft of net lettable space spread over five floors, with 525 retail lots.

http://img463.imageshack.us/img463/3173/queensbaymall42fe.jpg
^^those steel bars are on the roof now!!

http://img222.imageshack.us/img222/6186/queensbaymall74an.jpg
^^roof comming up!!

http://img222.imageshack.us/img222/2815/queensbaymall81oa.jpg
^^cranes cranes cranes!!

http://img222.imageshack.us/img222/8583/queensbaymall61sz.jpg
^^whole of the mall

Cool!! Looking forward to it's completion

are they going to develope the coastal area adjacent to the mall?

are they going to develope the coastal area adjacent to the mall?

yup!! there'll be some shop offices, seafront villas etc.;)

infact, construction has started on the shop offices (or is it some other thing??) already

View from jerejak
http://img.photobucket.com/albums/v608/Jianfa/DSCN1026.jpg

http://img.photobucket.com/albums/v608/Jianfa/DSCN1016.jpg

http://img.photobucket.com/albums/v608/Jianfa/Dscn1015.jpg

http://img.photobucket.com/albums/v608/Jianfa/DSCN1024.jpg

cool! Hope it's as cool as Gurney lah.....hahaha.

It's huge not play play :D

25-01-2006:

CP Landmark revives mall project in Penang
By Doreen Leong

CP Landmark Sdn Bhd, a member of the CP Group, is reviving a seven-year-old abandoned mall project in Penang, which will cost RM300 million to be developed and will be the largest and longest in the state when completed.

CP Group, controlled by executive chairman Tan Chew Piau (pic), is reviving the project, formerly known as Bayan Bay. It was initially a joint venture between Penang Development Corp and Anson Perdana Sdn Bhd.

CP Group executive director Jane Yeo said on Jan 25 that it had to negotiate for 18 months before it undertook the revival and rescue scheme from the original developers. The project will be renamed Queensbay Mall.

Yeo was speaking to reporters after CP Landmark signed an agreement with CIMB and Bumiputra-Commerce Bank Bhd (BCB) in Petaling Jaya for a five-year term loan facility of RM110 million to finance the project.

CIMB and BCB are the joint arrangers and BCB is the financier for the term loan facility.

Also present at the signing ceremony was Tan and CIMB deputy chief executive Charon Wardini Mokhzani.

The mall, costing RM300 million, is expected to be completed by the fourth quarter of this year. It has a built-up area of 2.50 million sq ft and more than one million sq ft net lettable area.

The mall is the first phase of a proposed 73-acre integrated seafront township comprising residential and commercial development to be developed five to seven years.

Queensbay Mall had secured retail tenants for 60% of the space available and expected to achieve 90% occupancy upon its completion.

Yeo said the mall was expected to rake in rental income of RM42 million per annum. She said CP Group’s revenue for the financial year ended Dec 31, 2005 stood at over RM50 million.

Charon said CIMB-Mapletree Management Sdn Bhd, which acquired CP Towers’ first direct property investment last year, was looking at other property investments in the Klang Valley, which includes commercial and residential properties.

http://www.theedgedaily.com/cms/storage/images/com.tms.cms.image.Image_1d568df0-cb73c03a-b113c700-f6522d12/1/CP-Lndmrk_inside.jpg

Wow, nice shots of the QueensBay mall there, guys... Construction progress is going on smoothly, with the roof starting to take shape... Lets hope for the successful completion and opening of this new PG landmark next year!

Btw, were you on a boat heading towards Jerejak when you took those shots, pablo?

http://www.queensbay.com.my/images/logo.jpg

http://www.queensbay.com.my/images/title.jpg
http://www.queensbay.com.my/images/sidebar.jpghttp://www.queensbay.com.my/images/pix.jpg

Just minutes away from the Penang Bridge, International Airport and the city centre, Queensbay is the most significant property development on the island of Penang.

With a gross development value of RM1.5 billion, this integrated seafront township, located on 73 acres of freehold prime land in the south-eastern seaboard of the island, will comprise bungalows, seaview villas, condominiums, hotel and service suites, as well as shop offices, retail/office suites and corporate towers.

Eighty per cent of the land area has been designated for commercial use, the remaining 20% is residential. The commercial gross floor area totals 5.6 million sq ft.

Queensbay Mall will be the biggest retail property development on Penang Island, boasting a gross built-up of 2.6 million sq ft. Even more significantly, the mall has been envisioned as a brand-new shopping, entertainment and lifestyle concept that will revolutionise the retail scene in Penang.

Queensbay will be the catalyst for growth in the northern region of the Malaysian peninsula by providing the impetus for the development of a vital new commercial hub.

To download a pdf document of the Queensbay brochure, please click here.
The document is in PDF format. You'll need Adobe Reader to read it. Don't have Adobe Reader? Get it here.

We will be providing more information at this website in the coming weeks. In the meantime, please contact us at:

http://www.queensbay.com.my/images/add01.jpg
Penthouse CP Tower
11 Jalan 16/11, Pusat Dagang Sekyen 16,
46350 Petaling Jaya,
Selangor, Malaysia.

Phone : 603-7665 1188
Fax : 604-7665 2200

http://www.queensbay.com.my/images/add02.jpg
26-G & 28-G,
Persiaran Bayan Indah,
Bayan Bay, 11900,
Penang, Malaysia

Phone : 604-640 1188
Fax : 604-640 2233
Email : info@queensbay.com.my

http://www.queensbay.com.my/

Huge project, but the construct progress very slow....

BayGarden, a project within Queensbay consisting of 19 units 3-storey bungalow and 46 units of 3-storey semi-d, was launched abt a week ago - and apparently most units had been sold off. was there to view the show units ... and i'm glad to report that those sales ppl were very stuck up !!

Huge project, but the construct progress very slow....

it is quite fast actually!! i'll try to post some pics hopefully by tomorrow or else it would be next week....

it is quite fast actually!! i'll try to post some pics hopefully by tomorrow or else it would be next week....

ok, i am waiting for ur good news :)

^^ me too :cool: guess 'Shes' halfway there eh?

^^ i can't make it last week, so hopefully i can by this weekend :D

we wan photo, we wan photo:D
:dance:

we wan photo, we wan photo:D
:dance:

comming...comming...

gimme about 4 hours time :D

here we go:

http://img154.imageshack.us/img154/9871/queensbaymall111vw.jpg
^^ you can see more walls on the building

http://img.photobucket.com/albums/v608/Jianfa/DSCN1026.jpg
^^ old pic by Pablo

http://img154.imageshack.us/img154/3863/queensbaymall104yl.jpg
^^ side

http://img154.imageshack.us/img154/6043/queensbaymall95pi.jpg
^^ this gotta be the main entrance

http://img154.imageshack.us/img154/5313/skyline1032il.jpg
^^ can you spot Queensbay Mall here??

u guys hav no idea how many years i waited just to see this pics and 'CRANESSS' hail the Queen of Penang!! :master: well.. hopefulli it'll look like a Queen when its complete :lol: and thx soooooo much for those pics TYW!!! :cry: donno how many times i must belanja u when i come back :lol:

u guys hav no idea how many years i waited just to see this pics and 'CRANESSS' hail the Queen of Penang!! :master: well.. hopefulli it'll look like a Queen when its complete :lol: and thx soooooo much for those pics TYW!!! :cry: donno how many times i must belanja u when i come back :lol:

you're welcome ;)

belanja only once!! :D

great job TYW, thanks for ur pic, may i know this pic u took from where, pulau jerejak or by boat :D??

http://img154.imageshack.us/img154/9871/queensbaymall111vw.jpg

thanks for those photos. very nice indeed, hope they won't turn it into another BJ complex or prangin mall ... more upmarket , hopefully ...

^^ Yeah I stayed in Vistana Bukit Jambul b4 and my first impression of the area is... quite upmarket but at the same time run down. It's like they just put everyone from the richer to the poorer in one area. The complex is huge but the tenants.... *ahem*. Some cafe rows in BJ look quite nice though.

Let's hope the Queen is for a change. :lol:

thanks for those photos. very nice indeed, hope they won't turn it into another BJ complex or prangin mall ... more upmarket , hopefully ...

I strongly agree with you! If it's gonna turn into another Prangin Mall or BJC then there's no point building this mall, hahaha.

Btw, those pics are superb TYW! You took it frm jerejak or by boat?

^^ i took those pics on the boat to Pulau Jerejak ;)

i think Queensbay will not be like Prangin Mall or BJ complex. CP Landmark is a good company. (at least the newspapers says so) hope it will not let us down

hope CP landmart dun disappoint us.....

yeh, we all hope so

Does anyone knows about the bayan mutiara project by pdc? How does it rate. Is it any better than the queensbay project? Thanks for your feedback

Does anyone knows about the bayan mutiara project by pdc? How does it rate. Is it any better than the queensbay project? Thanks for your feedback

Bayan Mutiara is less prestegious than Queensbay, IMO. this is also the 1st high end project by PDC properties. hopefully nothing goes wrong (you know those "leaning residential hirises" by PDC?) :bash:

currently, nothing is at the site yet, except for the fence.

look here:
http://www.pdcp.com.my/projects_mutiara.htm

Bayan Mutiara is less prestegious than Queensbay, IMO. this is also the 1st high end project by PDC properties. hopefully nothing goes wrong (you know those "leaning residential hirises" by PDC?) :bash:

currently, nothing is at the site yet, except for the fence.

look here:
http://www.pdcp.com.my/projects_mutiara.htm

Is that true? But since its the 1st PDC high end project, then they'll try to do their best as this will set precedence for their furture high end projects. Moreover PDC is partly government, Kho Soo Khoon will definitely see to it that nothing bad happens to this project. Right? I just called, about 60% of the project has already been taken up.

Only deposit paid.. if I'm not mistaken,10k for terrace & 20k for bungalow. SPA will only sign in June 2006. Foresee withdrawal as only 1k to be forfeited. Anyhow, have to give a credit to their terraces' arrangement. Not bad.

Only deposit paid.. if I'm not mistaken,10k for terrace & 20k for bungalow. SPA will only sign in June 2006. Foresee withdrawal as only 1k to be forfeited. Anyhow, have to give a credit to their terraces' arrangement. Not bad.

You forsee pple withdraw from this project? Why? I thought they'll be getting the FH status soon. For me I think this project is value for money. What do you think?

http://star-space.com/articles/features/2005/10/p11Mall.jpg http://www.queensbay.com.my/images/queensbay_mall_2.jpg
http://www.queensbay.com.my/images/qb_loc.jpg

Such a huge development :omg:

^^ kick-butts developement!! it'll look soo cool if all of it get build at the same time!! :cool:

what will happen to the existing tenants of those existing shoplots? They were rented out to administrative offices when the project was stalled back then. Those shoplots also look a bit run-down now due to the poor workmanship and not to mention the roads surrounding Queensbay.

Btw, why contruct more office spaces? I thought they should have some retail shops or something? Maybe Burger King should consider opening in Queensbay, hehe. According to NST, Burger King will set up their first Penang branch this year.

what will happen to the existing tenants of those existing shoplots? They were rented out to administrative offices when the project was stalled back then. Those shoplots also look a bit run-down now due to the poor workmanship and not to mention the roads surrounding Queensbay.

Btw, why contruct more office spaces? I thought they should have some retail shops or something? Maybe Burger King should consider opening in Queensbay, hehe. According to NST, Burger King will set up their first Penang branch this year.

i have some doubts about the need for more office space in Penang. There are a few proposed office buildings like The CEO, Suntech Tower and those in Queensbay. i heard that there's a lot of office space still available... so... no idea what's going on...

great news to know that Burger King will open an outlet in Penang FINALLY!! I also heard Borders will open in Penang but not too soon i guess...

actually i find Queensbay's plan a little weird. from the masterplan posted above, it seems like the roundabout near Gold Coast will have a massive jam in the future, most of the roads leading in and out of Queensbay Mall passes through it.

and those bungalows in front of Queensbay mall have a weird location. the residents will have to pass through the jammed roads to get out of their houses. it is like having jams in front of those bungalows of Bukit Jambul or Jesselton Heights. and, they are located in a commercial area. i think condominiums or service apartments are more suitable for this area. however, i think that this will cause a more severe jam.

what do you guys think??

^^^ that's right !! I can imagine that all the road shoulders around that area will be full of vehicles !! especially at night when residents of all the condos, in gold coast and queensbay, are back from work. this is one issue that many developers in malaysia fail to address.

actually i find Queensbay's plan a little weird. from the masterplan posted above, it seems like the roundabout near Gold Coast will have a massive jam in the future, most of the roads leading in and out of Queensbay Mall passes through it.

and those bungalows in front of Queensbay mall have a weird location. the residents will have to pass through the jammed roads to get out of their houses. it is like having jams in front of those bungalows of Bukit Jambul or Jesselton Heights. and, they are located in a commercial area. i think condominiums or service apartments are more suitable for this area. however, i think that this will cause a more severe jam.

what do you guys think??

Exactly. Who would invest in those properties if such jams are gonna be unavoidable. Are there any alternative routes to Queensbay from the other side? I doubt so ar? I don't think they will be able to connect the coastal highway to Queensbay.

Exactly. Who would invest in those properties if such jams are gonna be unavoidable. Are there any alternative routes to Queensbay from the other side? I doubt so ar? I don't think they will be able to connect the coastal highway to Queensbay.

according to the masterplan, there is only 2 entrances. it seems like most of the vehicles would use the roundabout near Gold Coast. :bash:

^^ more traffic headache? :lol:

i saw newspaper said that, total investment of queensbay is RM1.5billion and take 5-7 year to complete.

sorry ya, i only can find this news in chinese newspaper only:D
http://www.kwongwah.com.my/kwyp_news/news_show.asp?n=38694&rlt=1&cls=102&txt=2006/3/15/bw2006315_38694

^^ wow.. that whole project is huge.. 5 to 7 years.. i'll become uncle by then.. but its all good :cool:

haha, that time, i also become uncle :D
100 post
:dance:

web page is up : www.queensbay.com.my

^^ wow.. that whole project is huge.. 5 to 7 years.. i'll become uncle by then.. but its all good :cool:

Ha.ha..n i will be a gradfather :colgate:

Ha.ha..n i will be a gradfather :colgate:


:yes:


:D :D :D

:yes:


:D :D :D

I know u going to say that :bash:

I know u going to say that :bash:


I did't say anything also :D

web page is up : www.queensbay.com.my

WELCOME TO THE FORUM, POPOKO!!

Thanks TYW! Glad to be here
Baystar going to lunch soon,
i reckon it would be very expensive.

^^ Welcome Popoko! :okay: anyway.. wats Baystar? part of Queensbay developement?

160units condominum fronting queensbay.

Friday March 17, 2006



Four projects from CP Landmark

By DAVID TAN

PENANG: CP Landmark Sdn Bhd will launch four residential and commercial schemes this year, for its RM1.5bil Queensbay mixed development project on a 73-acre site in Bayan Bay, the south-eastern enclave of the island.

Group chief operating officer C.C. Pan said the projects to be launched were Baygarden, Baysuites, Baystar and Bayvillas.

“The plan is to launch Baygarden next month, Baysuites in May and Baystar mid-2006, followed by Bayvillas in the third quarter,” he said.

Baygarden comprises 65 bungalows and semi-detached houses, Baysuites two blocks of 10-storey corporate suites, Baystar 160 units of low-density lifestyle condominiums, and Bayvillas 86 three-storey sea-fronting villas.

http://thestar.com.my/archives/2006/3/17/business/p11pan.jpg
C.C. Pan (left) showing the model of the Queensbay project.

Properties in Baygarden are priced from RM850,000 to RM1.2mil. A 1,000-sq ft unit in Baystar costs RM450,000 while prices for the Bayvillas which have built-up areas of over 4,000 sq ft, start from RM2mil.

The company has not firmed up prices for Baysuites yet. The projects would be completed three years after their launch.

“Scheduled for opening in December is the Queensbay Mall, the largest and longest shopping mall on the island. The mall has a built-up area of 2.5 million sq ft and more than 1 million sq ft net lettable area.

“Jusco will be coming in as the anchor tenant. There will also be 17 junior anchors and more than 500 retail merchants, both local and international,” he said.

Pan said the phase two of the Queensbay project would kick off in 2007.

“Phase two will see the development of a four-star hotel, a 12-storey serviced apartment block, and seven corporate towers,” he added.

CP Landmark came in to revive Bayan Bay Development Sdn Bhd's Bayan Bay project last year following several failed attempts by other parties. The company subsequently renamed the project Queensbay.

Oh no, another concrete face project and same old rectengle, square etc design, Heck make something a lil bit unique. Hope they maintain the place around it real clean Glad Penang rise

Oh no, another concrete face project and same old rectengle, square etc design, Heck make something a lil bit unique. Hope they maintain the place around it real clean Glad Penang rise

i guess you are referring to the last pic in that article??

that is the 2nd phase of the development. it is still under planning stage. the actual design will not be like that. the models you see there are just to represent the buildings;)

I wonder how Queensbay Mall attract shoppers, and will it be competing with Penang Time Square, another project by CP group.

Oops! Sorry, Penang Time Square is by Ivory Properties.

Any latest news from Times Square Penang?

Pilling started on birch plaza first phase

WELCOME, TGY!!

Show pic leh...:P

Wonder if there is already a thread for Putra Marine?

Project Name: BayGarden
Features: 3 storey landed property
Built Up area: est. 46"x24" x 3 floors
Price: RM887K - RM1.2mil
Mthly Maintenance: RM 200
Density: 19 Bungalows & 46 Semi-Ds
Gated Community: Yes
Facilities: No
Land Tenure: ?
Developer: CP Landmark

Project Name: Putra Marine
Features: all sea-facing units, sharing 4 elevators
Built Up area: 2027sqft - 2723sqft for normal units
Price: RM690K- RMmil (normal units), >RM1.1mil (Duplex), >RM1.3mil (Penthouse)
Mthly Maintenance: RM0.15/sqft
Density: 126 units (inclusive of duplex and penthouses)
Gated Community: Yes
Facilities: Yes
Land Tenure: 99 Years (currently applying for conversion to free hold)
Developer: Techware

nope, there's no thread for Putra Marine.

http://img150.imageshack.us/img150/5763/queensbay6wi.jpg
^^ Queensbay site

following pics are taken on 11 June 2006 ;)
http://img152.imageshack.us/img152/849/queensbaymall126ep.jpg

http://img160.imageshack.us/img160/6250/queensbaymall163cm.jpg

http://img160.imageshack.us/img160/3533/queensbaymall151lq.jpg

http://img160.imageshack.us/img160/5778/queensbaymall145pp.jpg

http://img160.imageshack.us/img160/9317/queensbaymall130oi.jpg

thank you TYW!!!

it seen like complete soon :D

hmm...thanks for the update;)

post your update also ler...

Queensbay Mall to open by year end
by Jonathan Chen
The Sun


PENANG: Once an eyesore, the stalled Bayan Bay project is going places. Work to revive the RM1.5 billion project is well underway and Chief Minister Tan Sri Dr Koh Tsu Koon is expected to perform the topping up ceremony for the mall, a feature of the township, today.
Called Queensbay Mall, the RM200 million 5-storey shopping complex, touted to be the largest and longest in the northern region, will boast a gross built-up of 2.5 million sq ft of which 1 million sq ft is lettable. It is understood that Queensbay Mall will open its doors for business by the year's end -- six months ahead of schedule.

By that time, developer CP Landmark Sdn Bhd targets to have signed on 500 merchants, including 17 junior anchor tenants, with international brand names like Guess, La Senza, Roul and Topshop. The anchor tenant will be the Jaya Jusco Department Store.

And it is not just about shopping at the Queensbay Mall; there will be a fitness centre, exhibition hall and cinemas.

It is believed that CP Landmark expects to rake in some RM42 million in rental income in Queensbay Mall's first year of operation. About 60%of the available space has been taken up, with the developer targeting for 90% occupancy by the time the mall opens.

The stalled project was to have been developed by Bayan Bay Development Sdn Bhd jointly with Anson Perdana Bhd. The mall was about 60% complete when the 1998 financial crisis brought work to a halt. Construction of the mall resumed in 2004 after an agreement was worked out to revive the project by the two parties together with CP Landmark in 2003.

The entire Queensbay project, located south of the Penang Bridge, is being built on a 29.6ha tract over a span of seven years. Some 60% of the project will be dedicated for commercial development, including a 16-storey hotel, with the rest being residential development. Queensbay will also feature a marina waterfront and a yacht club as well as a theme park.

post your update also ler...

my pics are almost same as yours...no need to post mine liao:)

my pics are almost same as yours...no need to post mine liao:)

you got front seat view mar.. he he...

Saturday July 1, 2006

December finish for Queensbay

PENANG: Queensbay Mall, formerly the proposed Bayan Mall project that was abandoned for eight years, will now be completed in December, seven months ahead of schedule.

“Last October, when the Chief Minister launched the (revived) project (renamed Queensbay Mall), I promised that we would complete it ahead of schedule,” CP Group executive chairman Tan Chew Piau said.

Tan attributed the achievement to the cooperation provided by the state authorities.

http://thestar.com.my/archives/2006/7/1/nation/n_16kohlift.jpg
TOP THIS: Dr Koh, accompanied by Tan, putting his initials on the last piece of roofing before it was lifted up to its place on the roof of Queensbay Mall in Penang

Chief Minister Tan Sri Dr Koh Tsu Koon, who was at the topping-up ceremony, was given the honour of putting his initials on the last piece of roofing.

Tan said there had been many enquiries by prospective tenants. The mall will have more than 500 retail lots.

He said 75% of the outlets had been leased out to trusted brands, and that Jusco would be the anchor tenant.

“More than 60 established retailers are making their maiden entry into Penang through Queensbay Mall,” Tan added.

Among the big names are Gap, Zara, Harvey Norman, Roots, Liz Claiborne, Tag Heuer, Arnold Palmer Ladies, Nike Woman, TGI Friday’s, Sakae Sushi and House of Paddington.

The Queensbay Mall project is CP Landmark’s first investment in Penang, Tan said, adding that the company had invested about RM200mil to revive the project.

Among the projects undertaken by the group are CP Tower, Eastin Hotel, as well as Kota Villa, Bukit Serdang and Semenyih Impian residential estates.

Dr Koh said the group was appointed in late 2003 to undertake the project to revive the abandoned project that was part of the integrated Bayan Bay waterfront development scheme.

The construction of the mall, formerly known as the Bayan World Megamall, stalled in 1998 following the Asian financial crisis.

can't wait to shop at there liao:D:D

ya lo... sea front shopping complex wo... in malaysia how many shopping complex can be facing the sea...

i saw advertisement in Kwong Wah Jit Poh, gurney open a high class dining place... seem to be a nice place to eat... and somemore sea front lo...

ya lo... sea front shopping complex wo... in malaysia how many shopping complex can be facing the sea...

i saw advertisement in Kwong Wah Jit Poh, gurney open a high class dining place... seem to be a nice place to eat... and somemore sea front lo...

i like to see a mall which is facing right to a beach..... so far, malaysia got or not?

:weirdo: December finish for QueenBay Mall???

when we can start to :) window shop? haha :jk:

i think, this mall have high safety rate !!! e.g tsunami ^^ :weirdo:

Aeon targets RM80m sales from new complex
22-07-2006
The Star


SERI KEMBANGAN: Jusco department store and supermarket chain operator Aeon Co (M) Bhd is targeting RM80mil in annual revenue from its newly-opened shopping complex in Equine Park here.

Aeon finance general manager Poh Ying Loo said the company had invested RM70mil to build the complex that housed 75 shops and restaurants, and the Jusco department store and supermarket.

He said the shopping complex, which has 40,000 sq ft in built-up area, occupied a 11.8-acre site leased from the township developer.

The retail industry is competitive, but we are confident of sustainable growth for our stores based on the current sales performance,กฑ he said after the opening of the shopping complex by Selangor Mentri Besar Datuk Seri Khir Toyo yesterday.

Aeon would be opening two more stores - in Cheras Selatan and at Queensbay Mall in Penang - by year-end, Poh said.

The company had opened at least two outlets yearly since 2002 and allocated some RM150mil for annual capital expenditure on outlets expansion, he said.

Next year, it plans to open at least two new stores, including one each in Penang and Bandar Sunway.

Aeon currently operates 14 Jusco stores and two Jusco J-One supermarkets nationwide.

Its Mid-Valley store in Kuala Lumpur is currently the largest revenue contributor, accounting for some 15% of Aeon's annual revenue.

For the year ended Feb 28, Aeon posted a 14% growth in net profit to RM73.2mil from RM64.2mil in the previous financial year. Revenue grew by 10% to RM1.96bil from RM1.78bil a year ago.

The company recently changed its financial year-end to Dec 31 from Feb 28 previously.

i like to see a mall which is facing right to a beach..... so far, malaysia got or not?

Danga Bay Festive Street Mall,Johor Bahru
Danga Walk,Johor Bahru(Opening soon)

I thought Danga Bay facing the river???

i like to see a mall which is facing right to a beach..... so far, malaysia got or not?

Gurney Plaza in Penang;)

I thought Danga Bay facing the river???
It is beside the sea..
penang river is too dirty liao...cannot have a mall beside the river...haha
But, they are now cleaning the Sungai Pinang..which is one of the most polluted river in Malaysia:( So embarrass to say that

I thought Danga Bay facing the river???

it's facing the sea lar.....

I thought Danga Bay facing the river???

it's facing the sea lar.....
http://img295.echo.cx/img295/9459/jb16wx.jpg

it's facing the sea lar.....
http://img295.echo.cx/img295/9459/jb16wx.jpg

Thanks for the updates. When i left Johot in 2001, this place hasn't developed. So no idea about that.

Thanks for the updates. When i left Johot in 2001, this place hasn't developed. So no idea about that.

;)

Anybody have the interior pic of Queensbay....i pass the mall a few days ago at night...and i find that the interior looks interesting, classy..so..any1 has its pics:D:D

Bay Avenue and Bay Gardens u/c (the pic shown is Bay Gardens)

http://img237.imageshack.us/img237/3905/queensbay4pc6.jpg

very modern house..i like them;)

http://img238.imageshack.us/img238/3567/queensbay5ys9.jpg
^^ Bay Gardens from temporary car park which will be the site for future condos

they will block the nice view of penang bridge:ohno:
they should build the condos behind the mall and the mall should be built on that peace of land..:(

they will block the nice view of penang bridge:ohno:
they should build the condos behind the mall and the mall should be built on that peace of land..:(

can't agree more!! but if the mall's design will be like the present one (walls everywhere, no al fresco), there'll be not much difference.

i think the plan is like that because of the earlier proposal for a water theme park. now there's no water theme park, they put villas and condos :( should have made a super huge mall to stretch all the way to the sea :D

14-02-2007: CP Land to build 2 hotels at Queensbay
By Jonathan Chen



CP Land Sdn Bhd plans to build two hotels as part of its development of Queensbay, Penang, in tandem with the growth of the area, its chief executive officer Tony Lim said.

He said the proposed hotels, comprising a three-star traveller-class hotel and a five-star hotel, would be built at a cost of about RM100 million and RM150 million, respectively.

“Our two hotels would be managed by the CP Group’s hospitality division, but are unlikely to come under their Eastin Hotel brand,” he said at a media briefing in Penang on Feb 14.

Lim said construction of the three-star hotel of more than 300 rooms would take off in the second quarter of this year while the five-star hotel of more than 400 rooms would be built in 2009.

The two hotels are scheduled to open their doors for business by 2008 and 2011 respectively.

“We envision Queensbay to be a self-sustaining, preferred corporate address in Penang over the next eight to 10 years.

"By then, we hope to have a medical centre to complement our condominiums, shopping mall and office buildings,” he said.

Lim also said it would be launching its RM100 million BayCapital office suites and RM100 million BayStar up-market condominium in March.

CP Land expanding Queensbay Mall
Monday June 25, 2007
By DAVID TAN
TheStar

CP Land is expanding the Queensbay Mall, which had attracted various potential buyers. However, CP group executive chairman Tan Chew Piau said nothing had materialised so far.

He said CP Land was undertaking an expansion exercise to add 400,000sq ft of lettable floor area in view of the growing demand for retail space.

“CP Group views Queensbay Mall, which is 95% occupied, as a long term investment,” he said, adding that there were approaches by the Emplyees’ Provident Fund (EPF) and other investors but nothing had materialised.

He was responding to a report that Queensbay Mall had been sold to EPF for about RM400mil.

CP Land will launch the sales of 130 units of corporate suites, known as BayCapital next month. The BayCapital office block is one of the MSC compliant buildings next to Queensbay Mall, which is along the Penang Cyber City corridor.

Tan said CP Land would also develop a two-storey 10,000 sq ft purpose-built glazed showroom (part of BayCapital) later this year.

“The showroom is suitable for banks and high-end automobile showrooms,” he said.

Tan added that about 65% of the 160 units of BayStar exclusive condominiums, had been sold prior to the official launch.

CP Land will introduce the BayVillas, comprising 80 units of individual landed homes, fronting the sea next year.

“We have commenced construction of the Citro Hotel, scheduled for opening at the end of 2008. The Eastin Group will manage it. We are introducing another hotel, called Eastin Penang, next year,” he said.

Tan said CP Land was now collaborating with Japanese property consultants to turn the gated and guarded residential properties within the Queensbay project as second homes for Japanese.

“They are attracted to the project because of its proximity to Queensbay Mall, medical centres, Pulau Jerejak, which has been earmarked for eco-tourism activities, the Penang International Airport, and Penang Bridge,” he said.

Tan said in the pipeline for the Queensbay project, CP Land would develop a specialist medical centre to attract medical tourism, and a fisherman’s wharf, similar to the one in Darling Harbour in Sydney.

“We will also develop jetties and marina-related activities at the wharf,” he said.

Tan said Queensbay , with an estimated gross development value of more than RM2bil, was being transformed into a major landmark for integrated tourist activities.

“The entire project is surrounded by essential amenities such as local universities and colleges, shopping malls, hypermarkets, nearby housing estates, and future eco-tourism projects,” he

Movie stars grace film fest
Saturday August 4, 2007
TheStar


http://thestar.com.my/archives/2007/8/4/north/jins.jpg

One for the album: Abdul Rahman (fourth left) and Majimor, together with
Jins Shamsuddin (right), several VIPS and movie stars at the premiere
screening of Otai at GSC Queensbay Mall.

MORE than 1,000 people attended the free premiere screening of three local movies, Otai, Anak Halal and Budak Lapok in conjunction with the 20th Malaysia Film Festival (FFM20-2007) at the GSC Queensbay Mall in Penang.

Yang di-Pertua Negeri Tun Abdul Rahman Abbas and his consort Toh Puan Majimor Shariff attended the function and watched the screening of Otai yesterday.

Moviegoers were excited to see some of their favourite stars such as Fasha Sandha, Kavita Sidhu, Maya Karin, Rusdi Ramli at the function and some took the opportunity to take photographs with their idols.

Also spotted were veteran actors Datuk Jamil Sulong, Rosnani Jamil and Azean Irdawaty, a nominee for Best Supporting Actress.

National Film Development Corporation (Finas) chairman Senator Datuk Jins Shamsuddin was also present.

The three-day festival, held for the first time outside the Klang Valley, ends on Sunday. The movies will be screened for three days.

Programmes such as seminars, free film screenings and family-related activities under the special programme, Mai Merdeka FFM20 Gempak, are organised in conjunction with the event.

The awards night will be held at the Dewan Canselor Tuanku Syed Putra of Universiti Sains Malaysia today.

Among the movies nominated are Mukhsin, Cinta, Cicak Man, Diva, Waris Jari Hantu, Red Kebaya and Budak Lapok.

by khairilfz

http://img28.picoodle.com/img/img28/9/8/17/f_002m_af5100b.jpg

by xyhogirlgirl

http://img02.picoodle.com/img/img02/5/12/15/f_16m_f04943e.jpg

many shops were closed in queensbay like motivi and so on and crocs are now relocated at much bigger space lot...

many shops were closed in queensbay like motivi and so on and crocs are now relocated at much bigger space lot...

relocate to where??

beside F.O.S
but Motivi is closed already..

Motivi belongs to Berjaya..

you all means shopes started to close down in queensbay?

Queensbay lure: CP Land project capitalises on strategic location
Saturday January 5, 2008
By DAVID TAN
TheStar

CP LAND has lined up for launch this year three residential and commercial property schemes with an estimated gross sales value of RM1.7bil for the Queensbay project that would further enhance its reputation as one of the most prestigious addresses in Penang.

Located on 73 acres freehold site in the south-eastern corridor of the island, the RM3bil Queensbay development comprises luxurious residential homes, shopoffices, signature office suites, corporate towers, serviced residences, business class hotels, a convention centre, a medical centre, marina, waterfront retail shops, and the largest and longest shopping mall in the northern region.

“To continue developing high quality lifestyle properties for Queensbay, we are capitalising on its strategic location next to the sea, easy accessibility and matured surroundings for our new launches next year,” group executive chairman Datuk Tan Chew Piau says.

“The three schemes to be launched next year are the RM500mil Bay Villas, the RM200mil Queens Wharf, and a yet to be named RM1bil integrated commercial precinct, which are all sea-fronting properties. CP group is one of the handful developers on the island with landed and high rise residential and commercial properties fronting the sea,” Tan adds.



http://star-space.com/archives/2008/1/5/pnews/bw_03tan.jpg

Tan showing the plans for one of the group's forthcoming projects.



The Bay Villas comprises 86 units of three-storey waterfront and garden villas, while the RM200mil Queens Wharf is one iconic 10-storey building of 150 serviced apartments.

The Bay Villas linked units have built-up areas of between 4,000 and 5,000 sq ft.

“The units have designs and themes irresistible to those willing to spend on luxurious living.

“The units, with full sea view, are equipped with a roof top garden terrace, private waterfront garden, and a private infinity pool.

“The Bay Villas, scheduled for launching in the first quarter of 2008, will be priced between RM3.8mil and RM5mil,” he says.

Targeted for launch in the second quarter of 2008 is the Queensbay Wharf project.

The iconic building of 150 serviced apartments with facilities and concierge services, with built-up areas of 1,000 to 2,000 sq ft, has panoramic view of the sea, Penang Bridge, Pulau Jerejak, and Seberang Prai.

“There will also be retail and food and entertainment outlets at the ground floor,” he says.

The Bay Villas and the Queens Wharf projects are scheduled for completion respectively in 2010 and 2011.



http://star-space.com/archives/2008/1/5/pnews/bw_03bayavenue.jpg

The Bay Avenue three-storey shop offices launched some 18 months ago.



To be launched in the third quarter of 2008 is the integrated commercial precinct that has yet to be named, Tan says.

The unnamed project is the single largest commercial development consisting of prominent retail outlets, a five-star business class hotel, equipped with a 2,000 capacity ballroom, four blocks of corporate towers and five blocks of super luxurious fully furnished serviced residences.

Surrounding this unique commercial development is a waterfront promenade with viewing decks.

“This business precinct, scheduled for completion in four years, will form Penang's new central business district on the island,” Tan says.

The group's high-end properties, launched for the Queensbay project, have so far been well received by Penangites, who have the reputation of holding tight to their wallets.

To date, CP Land has sold about 80% of the RM500mil residential and commercial properties launched since 2005.



http://star-space.com/archives/2008/1/5/pnews/bw_03bayvillas.jpg

The Bay Villas to be launched in the next few months.



Tan says that about 80% of the purchasers are local, from Penang and neighbouring states, while the remainder are sold to foreign buyers.

Tan says the group is getting more interests from Asian and European buyers who are making enquiries on the Queensbay properties.

“We are attracting attention, as our properties are far more competitively priced than properties of similar range in prime locations overseas.

The innovative designs and concepts of properties that were usually found in big metropolitan cities are mainly responsible for the strong sales of the Queensbay project, Tan says.

For example, the Bay Capital, one of our current ongoing projects, comprising 98 corporate suites with built-up areas of between 983 and 2,955 sq ft, are column-free, and designed with a stunning granite grand lobby and an inspiring triple volume ceiling height.

The units are equipped with en-suite private washrooms, private pantries, and are broadband ready.

The Bay Capital is also a Multimedia Super Corridor (MSC)-compliant building.

“Since its soft launch two months ago, the Bay Capital has sold about 60% of its properties, which are priced between RM350,000 and RM790,000,” he adds.

Another example is the Bay Avenue's three storey shop offices which have high-ceilings, larger built-up areas between 4,000 and 6,000 sq ft, and are equipped with elevators.

The ground floor is fronted by a landscaped boulevard, wide veranda and walkways, which is perfect for retail ventures.

Every unit comes with convenient common lift access and broadband connectivity.

“The capital value of Bay Avenue has appreciated about 50% from RM940,000 some 18 months ago to about RM1.5mil recently, when one customer offered to buy a Bay Avenue unit for RM1.5mil,” he says.

Tan adds that many of Queensbay's investors have also bought other types of property launched by the group for the development.

“Besides buying our first launches in Queensbay, they also invested in other ranges of property planned for the new phases of the project,” he says.

On CP Land forthcoming projects in Kuala Lumpur, Tan says the group is now planning a mixed-development project on a prime seven-acre site in the city.

“We are in the advanced stages of finalising the details of the project, which will be implemented in the first quarter of 2008,” he says.

Meanwhile, Henry Butcher (M) director Dr Teoh Poh Huat says the value of properties in Queensbay and the surrounding neighbourhood has appreciated between 20% and 30% over the past two to three years.

Teoh says the Queensbay residential projects owed much of its success to the Queensbay shopping mall and the surrounding retail outlets and offices developed by CP Land.

“Nowadays the trend is to look for residential properties that are close to the comforts of modern lifestyle living such as shopping amenities, entertainment centres, and food and beverage outlets,” he adds.

CP group is planning an expansion exercise to add 400,000 sq ft of lettable floor area in view of the growing demand for retail space.

The expansion exercise is expected to be implemented in 2009 and scheduled be completed in 2010.

“The proximity of the Queensbay project to the Free Industrial Zone (FIZ) is also one of its selling points.

“The FIZ has created a category of middle and upper income group with the purchasing power to buy luxurious lifestyle projects in Queensbay,” Teoh says.

interesting news with new developments of queensbay!
queensbay mall will be the next OU (one utama) with 400 000 square feet extension!! anyway guys! check the new and improve queensbay mall's web!!
much better than the previous one!

http://queensbaymallmalaysia.com/

http://farm3.static.flickr.com/2259/2171451479_359ce9c80f_o.jpg

Don't you think it's getting too near to Pulau Jerejak?
http://farm3.static.flickr.com/2053/2172242402_436173152d_o.jpg

kinda :P

baru bukak dah nak expand?
peliknya

diorang nak expand on 2009 :)

Latest Pics of BayStar Condo U/C progress on 26 Oct 2008:
(from queensbay.invisionplus.net forum)

http://img406.imageshack.us/img406/456/261020081va5.th.jpg (http://img406.imageshack.us/my.php?image=261020081va5.jpg)http://img184.imageshack.us/img184/1327/261020082xu4.th.jpg (http://img184.imageshack.us/my.php?image=261020082xu4.jpg)http://img514.imageshack.us/img514/8877/261020083ae8.th.jpg (http://img514.imageshack.us/my.php?image=261020083ae8.jpg)

http://img208.imageshack.us/img208/439/261020084pq5.th.jpg (http://img208.imageshack.us/my.php?image=261020084pq5.jpg)http://img300.imageshack.us/img300/2602/261020085qu2.th.jpg (http://img300.imageshack.us/my.php?image=261020085qu2.jpg)http://img521.imageshack.us/img521/4783/261020086mv9.th.jpg (http://img521.imageshack.us/my.php?image=261020086mv9.jpg)

http://img514.imageshack.us/img514/7867/261020087wy4.th.jpg (http://img514.imageshack.us/my.php?image=261020087wy4.jpg)http://img208.imageshack.us/img208/9070/261020088fl8.th.jpg (http://img208.imageshack.us/my.php?image=261020088fl8.jpg)http://img249.imageshack.us/img249/9207/261020089mh6.th.jpg (http://img249.imageshack.us/my.php?image=261020089mh6.jpg)

http://img265.imageshack.us/img265/1351/2610200810bc6.th.jpg (http://img265.imageshack.us/my.php?image=2610200810bc6.jpg)

Anybody with any news about BayCapital, the office block to be built in front of QB Mall, and BayVilla, the waterfront houses with private pool?

When I pass by the coastal highway, I could see the E-Eastin hotel's piling work being done now. Hmmm.... It seemed to be in a rather tight spot, with the coastal highway on one side and the row of older shop houses in front...

^^ baycapital's site is still a parking lot. BayVillas don't no when will start, even the show houses are still only 50% done.

I agree with you on the E-Hotel, the spot is too small even for a 3-star hotel. Unless they create a new access road from the expressway or build the hotel facing Bay Avenue.