The Penang Island property sector looks set for major transformation following the launching of two mega development projects within a span of 3 months in the second half of 2007 ie Penang Global City Centre (PGCC) by Equine Capital and The Light Waterfront by IJM Properties.
PGCC, a high-impact and widely publicized RM25bil project was launched by the Prime Minister of Malaysia in September 2007 to complement the NCER initiatives whilst The Light, a RM6.5 waterfront city along Penang’s eastern coastline unveiled in November 2007.
The launching of the two mega projects has received wide publicity coverage by the mainstream media.The vernacular press, sinchew, has given in-depth coverage as well with multiple photo slots on its website and has described it as mega projects which complement each other, each has its own distinct feature with the former being located at the Penang foothill whilst the latter is sited along the waterfront overlooking Penang eastern coastline. It has also provide a comparison of salient facts of the two mega projects.
PGCC, designed by Architect Hani Rashid, will feature architectural themes that synthesise local symbolism and historic forms with contemporary-style designs. The PGCC’s website provides much of the information on its development concept and master plan complete with an animated photo gallery. The website also highlights on the project features of carbon-zero city, PGCC Central Park and Penang Metropolitan Park. The 40ha Metropolitan Park, which will link the Youth Park and Botanical Garden, will see more open spaces for the public. Two flyovers costing RM140 million connecting PGCC to PORR will be built to smoothen the traffic flow of the area. Click here to see to aerial view of the PGCC site and the traffic flow. Over the past few months, the developer has embarked on a series of road shows and exhibitions highlighting that PGCC will benefit Penangites and attract foreign investments and boosting Penang tourism. The development of PGCC is expected to create up to 30,000 jobs.
Unlike The Light Waterfront, the launching of PGCC has generated mixed reactions and split views from the public. A pro-development body, PERINTIS and several Youth associations have voiced their support for the development of PGCC whilst several concerned Penang NGOs and the residents from nearby Jesselton area have voiced their objections and concerns on the implications of this controversial project on issues ranging from environment impacts, traffic congestion, project density, approval procedures etc. The development of PGCC may be delayed and scale down.
Update : The application for PGCC project has been formally rejected by the Penang State Authority on 6/8/2008.
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Map showing the approximate location of PGCC and The Light in relation to the proposed Penang Outer Ring Road (PORR) Alignment or Browse Google’s Map guide on Georgetown.
Location Map of PORR, PGCC and The Light (source from Thestar online)
The skyline of Penang Eastern Coastal area will see major changes when The Light is fully completed…