Posts Tagged ‘Penang mega projects’

Penang Mega Projects: PGCC and The LIGHT

Friday, February 22nd, 2008

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.

For advisory on individual property investments in Penang, 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 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…

Northern Corridor Economic Region(NCER) and the high-impact projects on Penang

Tuesday, August 7th, 2007
The much awaited Northern Corridor Economic Region (NCER) masterplan has been launched by the Prime Minister of Malaysia[Video] on 30th July 2007. The masterplan was well received by the people of northern states. Here are the response and comments from Economists, Matta, PCCC and former Prime Minister of Malaysia, Tun Dr Mahathir.

The NCER blueprint, prepared by master planner, Sime Darby, is expected to bring in RM177 billion investment into the Northern Corridor [Map Guide] covering 4 northern states of Peninsula Malaysia – Perlis, Kedah, Penang and Northern Perak to transform and expand the agricultural,manufacturing, tourism and logistics sectors until year 2025.

According to the NCER blueprint, five growth corridors will be created within the economic region ie. Island Corridor, Coastal Corridor, Central Corridor, Hinterland Corridor and Butterworth-Kulim-Baling-Pengkalan Hulu Grik Corridor. For more highlights on NCER, click here and here. More info are available at NCER’s website

The plan will position Penang into an integrated logistics hub for northern corridor. Amongst the high-impact projects earmarked for Penang are airport and port expansion, enhancement of public transportation system i) Rapid Penang Bus services , ii) high –speed ferry services iii) RM2Billion Penang Sentral a central transport hub to be undertaken by MRCB and akin to Kuala Lumpur Sentral albeit at a smaller scale of about one fifth of its development size and iv) the Penang monorail project, micro-electronic center of excellence at USM and the RM18 Billion Penang City Centre to be promoted as MICE destination.

Update : more insights on NCER initiatives by SERI - Penang as an integrated logistics and transportation hub under northern corridor economic region.

For individual property advisory and investment in Northern Corridor of Malaysia, email to us or call us at +604 6588333 (Penang).

To what extend and how fast would all this initiatives and benefits cascading down to the ordinary people in the Northern Corridor ? Find out more on who are the beneficiaries of the NCER ? at Beneficiaries of the NCER and NCER big boost for Penang and which Property firms to get NCER benefits?.

Maps on Infrastructure road linkages;

Maps on Penang’s high impact projects under the NCER masterplan ;

Works on Second Penang Bridge Launched

Monday, November 13th, 2006

The construction works on the second Penang Bridge was officially launched by the Prime Minister Malaysia at a ground breaking ceremony in Batu Kawan on 12th November 2006. This event was an historic one and rekindled the remembrance of the first Penang Bridge, as 24 years ago, Penang witnessed the ground breaking of the construction on the first Penang Bridge in 1982 and its completion in 1985. The areas connecting the first Penang Bridge; Batu Uban/Sungai Dua on the island and Perai/ Bukit Tengah in the mainland have since been transformed into an urban and developed areas.

Batu Kawan in the mainland and Batu Maung on the Southern Island will be the development corridor when Second Penang Bridge ready in 2011. The construction of the second Penang Bridge is expected to fast track the developments of Bandar Cassia in Batu Kawan.

Ground breaking launching at the site of Batu Kawan

More updates on Penang’s second link.