PENANG CONSTRUCTION PROJECTS | General Thread

[World 2 World]

wow..nice. congratz penang

[rizalhakim]

Avenue Properties unveils country's first property interest scheme

By Bernama
Thursday, 16 February 2012 18:34

KUALA LUMPUR (Feb 16): Avenue Properties Bhd has launched the country's first property interest scheme, the Avenue Hotel Property Scheme (APHS), which the company says offers a fixed annual return of seven per cent for the first 14 years of the scheme's 35-year tenure.

The property is the 130-room Nusa Butterworth, strategically located in the Raja Uda business district in fast-growing Butterworth. It will commence construction in March with scheduled completion date in the first quarter of 2013.

"The public are welcome to invest at RM4,800 per interest-share," said chief executive officer and managing director Richard Woo, adding from the 15th to the 35th years, the yearly return will be at a variable rate with a guaranteed capital return upon maturity.

"This scheme is the lowest risk exposure as there is no financial encumbrance and is endorsed by the Companies Commission of Malaysia (CCM)," he told reporters at the launch of the scheme here on Thursday.

Woo said the scheme is resilient to adverse market changes, has no hidden fees, and is regulated by a Trustee.

Director of marketing and communications, Khong Yue Chen, said, "In compliance with CCM's requirements and guidelines, we also have appointed a Trustee for the AHPS."

Added Woo: "I think to gain the confidence from the public to invest in this scheme is to let them see that the construction of the hotel is in progress.

"We expect that this may generate public interest to subscribe to AHPS, which for the first time in the history of interest schemes, positions all risk considerations upfront for the potential investor and, in a most transparent manner."

Avenue Properties, which is capitalised at RM5 million, has established under the AHPS 10,500 property interests of which only 7,350 interests are intended for public subscription. — Bernama

www.avenuepropertiesberhad.com

[UjaiDidida]

Nice looking..but kalau la aku duduk dalam bangunan tu...tak pulak rase macam duduk dalam penjara!

[buildship]

i wonder how many more hotels needed in penang...but i guess it is more demanding than build another shopping mall (unless a mall in balik pulau)

[daeng_jal]

Originally Posted by buildship

new batu kawan affordable home...looks really nice!

well, i wish it was more putrajaya like though, in which the rich, average and the poor are next door neighbour using the same facilities,school,pasar, padang etc..that what europe and american are trying to do after their attempt at grouping all poor people in one modern district backfired and now become a dangerous area with gang, violence etc..in malaysia term just go and see pantai dalam will become..

i'm suprices singaporean come up with this long block ideas..they should spread the low cost housing in and around batu kawan and make sure the racial composition and income level are not so concentrated into one area..

considering that what uncle LKY did all along his reign and look at him now

[buildship]

Originally Posted by daeng_jal

well, i wish it was more putrajaya like though, in which the rich, average and the poor are next door neighbour using the same facilities,school,pasar, padang etc..that what europe and american are trying to do after their attempt at grouping all poor people in one modern district backfired and now become a dangerous area with gang, violence etc..in malaysia term just go and see pantai dalam will become..

i'm suprices singaporean come up with this long block ideas..they should spread the low cost housing in and around batu kawan and make sure the racial composition and income level are not so concentrated into one area..

considering that what uncle LKY did all along his reign and look at him now

penang never like putrajaya in which certain area is reserved to certain people based on skin colour, dont worry about that

[guyversa]

i hope penang will have something like this in the nearest time..the existing pier is ugly


singapore international cruise terminal

[buildship]

Originally Posted by guyversa

i hope penang will have something like this in the nearest time..the existing pier is ugly


singapore international cruise terminal

unfortunately, current pier is under federal government, you cant hope much from them, just look at how ambitious they promissed about Penang Sentral, till now it still a temporary bus terminal with a zink roof...

[buildship]

Saturday February 18, 2012

RM16mil road widening project to be completed by June



The long wait for the completion of a 1.3km-long road widening project between Federal Route One in Simpang Ampat and the traffic lights near the North-South Expressway’s (NSE) toll plaza at Batu Kawan, Penang, will be over soon.

Chief Minister Lim Guan Eng said the Public Works Department (PWD) was confident of completing the RM16mil Federal Government project by June.

He said the project, which began in June 2008, was originally scheduled for completion by December 2010.

He said although the PWD later extended the completion date to September last year, it still could not meet the deadline.

“The PWD said the delay was not caused by the project contractor but by PLUS, which delayed in giving its consent for the contractor to build a 70m-long bridge over the NSE alignment there.

“PLUS only gave the green light last December and so, JKR is now confident of completing the project by June,” he said after checking on the bridge’s construction on Thursday.

Also present was Penang JKR deputy director Mohd Hassan Harun and Bukit Tambun assemblyman Law Choo Kiang.

Lim said many residents had complained of bottle necks, especially near the mini roundabout outside the NSE’s Bukit Tambun toll plaza due to the project’s delay.

He said the project involved widening the two-lane stretch to four lanes.
http://thestar.com.my/metro/story.as...4220&sec=North

again, federal is the main obstacle to slow down the developement.

[daeng_jal]

Originally Posted by buildship

penang never like putrajaya in which certain area is reserved to certain people based on skin colour, dont worry about that

i said, don't group people with the same low finance group together in one big area.. u gonna get into trouble for doing so

uncle LKY knows best why

[buildship]

Originally Posted by daeng_jal

i said, don't group people with the same low finance group together in one big area.. u gonna get into trouble for doing so

uncle LKY knows best why

is it? you agree putrajaya seperate people by skin colour? Assobiyah is ok for you?

[guyversa]

Originally Posted by buildship

is it? you agree putrajaya seperate people by skin colour? Assobiyah is ok for you?

go to this thread please....org2 membangkang mmg suka melalut..tiap2 thread smua nak comment pasal politik,terdesak sgt ke?

[buildship]

Originally Posted by guyversa

go to this thread please....org2 membangkang mmg suka melalut..tiap2 thread smua nak comment pasal politik,terdesak sgt ke?

in penang, BN is pembangkang, is the right time you ask the one who initiate that (Daengjal) behave properly, thank you.

[daeng_jal]

what? suggesting way to prevent a ghetto, learn from other mistakes, make a safe city, make me the bad guy??

well,have fun being conned now with the future ghetto, i could see the singaporean running to the bank laughing "i can't believe we get paid for selling them an old (1950's) ideas that fail and backfired in europe and america, it would be really nice to read some newspaper in the future and see picture of violence in that area and laugh our ass off, seriusly, how can one easily fools to accept an idea that we don't apply here in singapore?.."

one less singapore competitor goes down the drain

[rizalhakim]

Batu Kawan to rival Bayan Lepas
February 17th, 2012
www.penangpropertytalk.com






BUTTERWORTH: Batu Kawan, once a rural swampland of oil palm estates, is set to become the next Bayan Lepas, Chief Minister Lim Guan Eng said.

He said three major investments from Robert Bosch, Boon Siew Honda and VAT Manufacturing Malaysia totalling about RM10bil in Batu Kawan would have spillover effects on different sectors, including thousands of jobs for those living in the area.

“At the same time, Batu Kawan will also have the country’s first integrated, streamlined and symmetrically designed affordable housing scheme.

“We have engaged the world’s best in this field, Surbana International Consultants — the privatised building and development division of Singapore’s Housing and Development Board (HDB),” he said before performing the ground breaking for the RM2.7bil Bandar Cassia Affordable Housing Scheme yesterday.

On the state’s choice of the consultancy firm, Lim said the state’s investment arm Penang Development Corporation (PDC) did not want to copy or model its affordable houses after some of the world’s best designs but to appoint the best in the industry to help with the planning.

Lim reiterated that the housing project, which would be given out to local contractors via an open tender, would be ideal for the middle-income earners.

“We do not want our middle-income earners to live in boxes. That is why proper planning is vital so that they can live with pride and enjoy quality living through this scheme.

“This eco-friendly designed project, on an 80ha plot of land, will have about 12,000 medium-cost housing units, three football fields, a man-made river and recreation parks,” he said.

Lim said the freehold units, ranging from 800sq ft to 1,000sq ft, would be housed in high-rise buildings of between nine and 16 storeys. The units are priced at between RM72,500 and RM220,000 each with a free car parking lot.

He said Surbana was committed to oversee the project’s progress throughout the scheduled 10-year development period over five phases with the Phase 1 expected to be ready by 2014.

“The state government will undertake the maintenance and management of these housing units once completed.”

He said the various projects would ‘create’ a population of about 250,000 residents.

[buildship]

Originally Posted by rizalhakim

Batu Kawan to rival Bayan Lepas
February 17th, 2012
www.penangpropertytalk.com

BUTTERWORTH: Batu Kawan, once a rural swampland of oil palm estates, is set to become the next Bayan Lepas, Chief Minister Lim Guan Eng said.

He said three major investments from Robert Bosch, Boon Siew Honda and VAT Manufacturing Malaysia totalling about RM10bil in Batu Kawan would have spillover effects on different sectors, including thousands of jobs for those living in the area.

“At the same time, Batu Kawan will also have the country’s first integrated, streamlined and symmetrically designed affordable housing scheme.

“We have engaged the world’s best in this field, Surbana International Consultants — the privatised building and development division of Singapore’s Housing and Development Board (HDB),” he said before performing the ground breaking for the RM2.7bil Bandar Cassia Affordable Housing Scheme yesterday.

On the state’s choice of the consultancy firm, Lim said the state’s investment arm Penang Development Corporation (PDC) did not want to copy or model its affordable houses after some of the world’s best designs but to appoint the best in the industry to help with the planning.

Lim reiterated that the housing project, which would be given out to local contractors via an open tender, would be ideal for the middle-income earners.

“We do not want our middle-income earners to live in boxes. That is why proper planning is vital so that they can live with pride and enjoy quality living through this scheme.

“This eco-friendly designed project, on an 80ha plot of land, will have about 12,000 medium-cost housing units, three football fields, a man-made river and recreation parks,” he said.

Lim said the freehold units, ranging from 800sq ft to 1,000sq ft, would be housed in high-rise buildings of between nine and 16 storeys. The units are priced at between RM72,500 and RM220,000 each with a free car parking lot.

He said Surbana was committed to oversee the project’s progress throughout the scheduled 10-year development period over five phases with the Phase 1 expected to be ready by 2014.

“The state government will undertake the maintenance and management of these housing units once completed.”

He said the various projects would ‘create’ a population of about 250,000 residents.

it looks really good for Batu Kawan...i really wish i still can own 1 over there, but i cant anymore...hope it become a pioneer of cheap + good quality properties for penangites

[rizalhakim]

yeap looking good...hopefully the Bandar Malaysia project @ Sungai Besi can/will be better than this....

[buildship]

Originally Posted by rizalhakim

yeap looking good...hopefully the Bandar Malaysia project @ Sungai Besi can/will be better than this....

yup..hope malaysian have good quality living place...regardless poor or rich..

[tanprop]

Originally Posted by buildship

yup..hope malaysian have good quality living place...regardless poor or rich..

This affordable housing project in Batu Kawan is indeed impressive. Nowadays it may not make sense to try build low-medium cost in the Island due to the scarsity of land, which push the price to the sky. Even if there is, the life-style and quality will come to compromise - just look at the LC/LMC developments around sg pinang and mnt erskine and you know what i meant. However to try it in mainland such as batu Kawan may be strategic and timely, huge and more affordable landbank allows the building of houses with better quality and lifestyles features (parks, ponds, sports facilties etc) especially when coupled with good planning and infrastructure upgrading. Science park is hot on wheel, and once 2nd bridge is completed in sep'2013 as its claimed, this area will then be self sustained and connected well with the island.

[UjaiDidida]

Originally Posted by rizalhakim

yeap looking good...hopefully the Bandar Malaysia project @ Sungai Besi can/will be better than this....

Originally Posted by World 2 World