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PENANG RESIDENTIAL HIGHRISES | General Thread

212K views 261 replies 32 participants last post by  pennywong02 
#1 · (Edited by Moderator)
UPDATES ON PENANG'S RESIDENCES APARTMENT/CONDOMINIUM/TOWER
 
#235 ·
'Condo project will go on'
2009/10/22


GEORGE TOWN: Nusmetro Ventures (P) Sdn Bhd, the developer of the RM200 million Oasis condominium project on the Kampung Lorong Buah Pala land, is optimistic that construction will proceed smoothly.

Its executive director, Thomas Chan, said things were expected to be sorted out soon.

The project's fate was briefly put in doubt when Chief Minister Lim Guan Eng reportedly said on Tuesday, the state government would stop it if there were objections to the building of the 24 double-storey terrace houses by landowner, Koperasi Pegawai Kerajaan Negeri Pulau Pinang.

Lim was commenting on the cooperative's decision to hold an extraordinary general meeting (EGM) scheduled for Oct 31 to decide on the double-storey houses.


The idea of building the houses was mooted by the state government in July as compensation to the 24 temporary occupancy licence (TOL) holders in the village located in Bukit Gelugor.

The village was demolished on Sept 14 and to-date, only 13 TOL holders have accepted the house compensation.

Chan said the EGM was only a formality and would not jeopardise the project.

He said the cooperative and its members had nothing to lose by accepting the state government's proposal because Nusmetro Ventures would be paying the cost of the building of the houses.

"We are meeting the state government today to finalise the amendment to the building plans and the former residents' compensation.

"We are also hoping that the Penang Island Municipal Council will speed up the approval of the building plan so we can get things started."
 
#238 ·
SP Setia plans high-end condos in Gurney Drive
By Marina Emmanuel
Published: 2010/03/06

Property developer SP Setia Bhd (8664) is set to make its mark on Penang's popular seafront promenade Gurney Drive, if a plan to buy land in the upmarket neighbourhood goes through.

General Manager S. Rajoo said SP Setia has identified a parcel of land measuring 0.92 hectares in the area, and plans to build 70 units of high-end condominiums.

"We intend to incorporate lots of greenery into the proposed development for the super-condominiums which are set to boast a floor area of 3,000 sq feet," he told Business Times.

Rajoo was speaking during a Chinese New Year celebration hosted by SP Setia in Penang which was attended by the company's president and chief executive officer Tan Sri Liew Kee Sin and chief operating officer Datuk Voon Tin Yow.

The proposed project in Gurney Drive is part of SP Setia's move to expand its landbank by 12ha this year.
Gurney Drive, located in the affluent Pulau Tikus area in George Town, is currently lined with high-end condominiums and is near a sea-fronting shopping mall and a host of eateries.

"We have also identified another 5.6ha land to acquire in the southwest district of Penang island. We intend to develop a gated community comprising detached and semi-detached homes," Rajoo said.

SP Setia is also looking to buy more land in the southwest district for a resort homes development.

"This would be a sizeable piece of land where more bungalows and semi-detached units will be built," he added.

It now has an undeveloped landbank of around 24.4ha on Penang island.

SP Setia still thinks that demand for landed properties is strong despite similar projects being launched by other developers.

"The supply for landed properties is still lacking and we intend to market our homes to foreign investors and locals," he said.

SP Setia's entry into Penang was via its maiden development "Setia Pearl Island" in Sungai Ara near the Penang International Airport.

The project, which is sited on a 45.2ha of land, serves as the company's flagship project in Penang.

From November 2009 until now, the company has sold properties worth RM115 million at Setia Pearl Island.

"Our target is to chalk sales of RM200 million by the end of October," he added.
 
#239 ·
The Icon Residence Penang to preview in early 2011
By E Jacqui Chan of theedgeproperty.com
Wednesday, 23 June 2010 19:20



KUALA LUMPUR: Mah Sing Group Bhd will be previewing its new high-end condominium project, The Icon Residence Penang, early next year.

According to the chief operating officer of Mah Sing Group, Teh Heng Chong, the project has an estimated gross development value (GDV) of RM280 million,

The development is located on Pykett Avenue, at the crossroads of Burmah Road and Anson Road in the heart of Georgetown, Penang. Mah Sing acquired the three-acre freehold tract in 2009 for RM39 million.

Based on the preliminary plans, the condominium will offer 290 units, each with sizes from 1,400 sq ft, with indicative pricing from RM770,000 onwards.

“The concept and design is similar to The Icon Residence Mont’Kiara,” said Teh, referring to the condo project in Mont’Kiara, Kuala Lumpur.

A spokesperson said that development was inspired by the architecture of Santorini in the Mediterranean, with each condominium opening out to a view of gardens, a stream and the ocean.

The group has another ongoing project in Penang, the RM1.3 billion Southbay Penang, a mixed development in Batu Maung.

To be developed over a period of seven years, Southbay Penang comprises 376 units of landed residential properties and an integrated commercial hub.

Southbay's designer bungalows, Legenda@Southbay won the Best Architecture-Malaysia award at the Asia Pacific Property Awards 2010 in April, 2010.
 
#247 ·
"The land is earmarked for a residential project named The Edge, comprising 96 units of condominiums. The estimated gross development value is RM159 million with an estimated gross development cost of RM76 million. The project belong to Ivory Associates Sdn Bhd (a subsidiary of Ivory Properties Group
By E Jacqui Chan of theedgeproperty.com
Thursday, 05 August 2010"

Is this project still in planning or have a new project name? how many storey?
 
#253 ·




Majlis penyerahan kunci pangsapuri kos rendah i-Park kepada para penghuni dirasmikan Exco Perancangan Bandar & Desa dan Perumahan, Jagdeep Singh Deo dan Exco Hal Ehwal Agama Islam, Perdagangan Dalam Negeri dan Hal Ehwal Pengguna, Datuk Abdul Malik Abul Kassim.

Pangsapuri terletak di Lot No 70689, Mukim 12 Sungai Ara, Daerah Barat Daya, Pulau Pinang tersebut mempunyai 642 unit dari tingkat 1 ke tingkat 18. Setiap unit bersaiz 650 kaki persegi dijual pada harga RM42,000 seunit.^^
 
#255 ·
A JOINT DEVELOPMENT AGREEMENT FOR AFFORDABLE HOMES AT JALAN S.P. CHELLIAH, GEORGE TOWN, PENANG
November 26, 2013 at 1:58pm
PRESS STATEMENT BY YAB LIM GUAN ENG PENANG CHIEF MINISTER ON 26 NOVEMBER 2013 A JOINT DEVELOPMENT AGREEMENT FOR AFFORDABLE HOMES CONSISTING OF MEDIUM AND LOW MEDIUM COST HOMES AND RELATED FACILITIES AT LOT 1053 AND PART OF LOT 758, SECTION 10, JALAN S.P. CHELLIAH, GEORGE TOWN, PENANG

1. Overview
The continuing effort by the Penang State Government in fulfilling its aspirations to ensure more affordable homes are made available for all Penangites, has led to the establishment of a RM500 million Affordable Housing Fund, the largest by any State Government in Malaysian history.

In support of the State, the Majlis Perbandaran Pulau Pinang (MPPP), which is the registered proprietor of the 11.04 acres of land, and PDC have planned for the development of 1,900 units of medium cost and low medium cost affordable homes.

MPPP has appointed Penang Development Corporation (PDC) as its attorney and Project Administrator to administer and manage the development of the land.

This project is in addition to the 11,800 units of affordable homes that will be built by PDC in Batu Kawan in stages over a 10-year period. Other notable affordable homes projects being planned on the island of Penang, besides Jalan SP Chelliah, are in Teluk Kumbar and Jelutong.

2. State Affordable Home Fund
The commitment of the State in ensuring all affordable home projects progresses smoothly as planned, is backed by the State’s Affordable Home Fund. This sizeable RM500million fund, the biggest compared to any other States, was set up last year and it provides the much needed impetus to help fulfill the promise of more affordable homes for Penangites. The RM500million is managed through Chief Minister Incorporated (CMI) with PDC as the implementing agency.

More information on this Project:

3. The Developer for this Project
Through an open tender exercise, Zubicon Sdn Bhd was awarded the tender and appointed as the developer to develop this land into medium cost and low medium cost affordable homes.

4. Development Schedule
The entire development of affordable housing on the land must be fully completed within four (4) years by November 2017.

5. Development Components
The 1,900 units of affordable homes for this project are as follow:
770 units (40.5%) of minimum 700 sq ft LMC at maximum selling price of RM 72,500.00 per unit.
883 units (46.5%) of minimum 800 sq ft at maximum selling price of RM200,000
165 units (8.7%) of minimum 900 sq ft at maximum selling price of RM 300,000.00 per unit;
82 units (4.3%) of minimum 1000 sq ft at maximum selling price of RM 400,000.00 per unit;

7. Related Facilities
The related facilities that will be built in this project include facilities and communal infrastructure ie pavilion, linear park, community park, riverfront point, market street, big tree skyway, bus terminal, taxi hub, Chelliah Square, 33kV Pusat Pencawang Utama PPU (Main Distribution Sub Station), civic center, surau, upgrading of existing Jalan S.P. Chelliah and building additional car parks for low medium cost (LMC) affordable homes, which in total will cost an additional RM 29 million. This development shall comply with the Green Building Index (GBI) of Gold Class and shall consist of seventy percent (70%) green area of the entire development.

8. Gross Development Value
The gross development value of the entire project at SP Chelliah, is about RM500 million.
 
#262 ·
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