Butterworth new growth corridor along BORR
In addition, major infrastructure developments earmarked along the BORR corridor area as recently announced under the NCER initiatives, when kick off as planned without delay, will further accelerate the economic development of Butterworth area. These major projects are :-
Redevelopment of Butterworth Bus Terminal - a new RM100Mil bus terminal which forms part of the proposed Penang Sentral will be built near the Butterworth Ferry Terminal to replace the old bus terminal which was destroyed by fire six years ago. However, this redevelopment will only be able to take off when outstanding title issues are resolved.
The RM2bil Penang Sentral is a key component of the NCER initiatives and will be the Butterworth’s transportation hub, comprises an integrated terminal for rail, road and sea travel. More related info on Penang Sentral at here and here.
Expansion of North Butterworth Container Terminal (NBCT)
The NBCT will be further expanded when Penang Port reclaims 405 hectares along the Butterworth coastline. The expansion would cost RM3.2 billion and to be carried out over 10 years . More at Penang Port set to see its glorious trading days and Penang Port to handle more cargo.
One recommended resource paper by SERI, The Think Tank for the State of Penang, posted on its website provides good insights on NCER initiatives-Penang as an integrated logistics and transportation hub under northern corridor economic region.
Butterworth Property Sector
Butterworth town, once a thriving business and commercial center from 1970’s to early 1990’s, however, experienced declining business activities after several major government institutions ie district office, hospital and the administrative office of MPSP relocated to Bertam, Seberang Jaya dan Bandar Perda in Bukit Mertajam respectively. This has affected the occupancy and prices and rentals of commercial shopoffices particularly along Jalan Bagan Luar. Interest on new shopoffices has also shifted to Bandar Seberang Jaya and Jalan Raja Uda area noticeably Woolley Avenue by Ipoh-based developer Woolley Development Sdn Bhd where new 3-storey shopoffices being sprung up and has become a new vibrant commercial area. Monthly rentals for ground floor shopoffice ranges from RM2,000 onwards.
Unlike the commercial sub-sector, the Butterworth residential sector continues to be on healthy growth in tandem with the buoyant economic expansion. In recent months, more new housing schemes have been launched, notably Sunrise Villa, Palm Villas–3 storey courtyard villas, Amanbayu gated project - Resort lifestyle by the sea, Taman Jawa By IJM Properties, Cassia Condominium by Island Lanscape and Delink @ Taman Segar by Oriental Max Group. It is noted that some of these new launched schemes are either higher end condominium units or 3-storey landed homes with bigger floor area that comes with better design, finishes and facilities in a gated community environment.
Some of the existing high rise flatted housing developments located along BORR corridor area include Park View @ Harbour Place, Pangasuri Ria, Pangsapuri Arked, Pantai Apartments, Vistana Perdana, Affina Bay etc. The Butterworth property sector also saw the entry of the newly completed Citrine Tower (Block D Pangsapuri) by Thong Sin’s Group comprises 3-bedroom apartment with a floor area 1,000 sq ft. Prices from RM141,800 onwards. Rental rates for 3- bedroom apartments in Butterworth with floor area of about 800 - 1,000 sq ft ranges from RM650 to RM1,000 per month.
Several vacant development lands along the BORR area are currently available for sale. Sales price from RM60 to RM150 per square foot.
The real estate landscape of Butterworth area and its vicinity along BORR may set for change following the government decision to implement several major infrastructure projects in Butterworth hub under the NCER initiatives, the move will likely to spur more real estate projects being developed in new growth areas in the vicinity of BORR corridor area namely Prai Perdana township, Bagan Ajam, Bagan Jermal, Sungai Dua, Raja Uda, Bagan Lalang and Teluk Air Tawar area.
For advisory on lands or property investments in Butterworth area, email to us at Izrin &Tan Properties Sdn. Bhd. or call us at +604 6588333 (Penang Office) or +603 92839782 (Kuala Lumpur Office) and we would be pleased to assist.
Map of Butterworth and BORR
Aerial View of BORR connecting to Jalan Baru
General view of Butterworth developments along BORR
Overview of the North Butterworth Container Terminal (NBCT)
SeaView Tower and Park View Tower at Harbour Place, Butterworth
View of Vista Perdana Apartments
Affina Bay Condominium along BORR