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SITE PROGRESS: Sinaran Residences (May 2022)

Property News/ 23 May 2022 No comments

About Sinaran Residences @ Utropolis

The residential component in the third phase of Utropolis development by Paramount Property at Batu Kawan, Penang. It is strategically located along Bandar Cassia Expressway, with walking access to Design Village outlet mall and UOW MALAYSIA KDU Penang University College. Driving to Penang International Airport will only take approximately 30 minutes via Second Penang Bridge.

This development featuring two blocks of 35 & 36-storey serviced apartments, offering a total of 982 residential units with unit size ranging between 667 sq.ft. – 1,044 sq.ft.

Find out more about Utropolis @ Batu Kawan:

(Photo taken April 2022)

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Gurney Wharf will cost at least RM200mil, to be completed in 2025

Property News/ 21 May 2022 No comments

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The cost of developing the Gurney Wharf waterfront project has increased by 12 per cent to RM200 million.

According to Penang Chief Minister Chow Kon Yeow, the project’s cost has been increased by RM24 million to RM200 million and it could rise further in the future due to escalating costs.

The Gurney Wharf project, which will be built on reclaimed land near the state’s most famous tourist destination, Gurney Drive, was first mooted six years ago.

Spanning nearly 5km eastward from the foreshore of Gurney Drive, a total of 52 hectares (ha) of land were reclaimed in 2019, with 20ha set aside for Gurney Wharf.

Tanjung Pinang Development Sdn Bhd, a subsidiary of Eastern & Oriental Bhd, reclaimed the foreshore as part of a deal to reclaim Seri Tanjung Pinang (STP) Phase 2 further up north.

Gurney Wharf broke ground last week. Penang Chief Minister Inc owns the project, which is expected to be completed in early 2025.

According to Bernama, Chow said it would become the state’s newest attraction, adding economic value and spillover.

“The Gurney Wharf development initiative began in 2016 with engagement sessions with all stakeholders including Penang residents to obtain views, input, and feedback in terms of needs as well as the recreational component required by the community in the state.

“The project will be a promenade with a beautiful sea view and a recreational park, hawker centre, parking, and other facilities for the entire family to spend quality time and for a better quality of life for the people on the whole,” he said after the Gurney Wharf ground-breaking ceremony.

Johor-based Teto Engineering Sdn Bhd has been selected as the project’s principal contractor.

Work on the landscaping, skate park and playground, maritime engineering, and steel roofing would be done by subcontractors.

“Those involved in the project will protect the environment and marine areas. A traffic flow plan, including pedestrian walkways, is being studied as we expect the wharf to receive high traffic throughout the day. We hope the project, when completed, would be the state’s new attraction,” Chow said.

Chow said next year would see the completion of a green park, a playground, a skate park, and a viewing deck.

A hawker centre, a multi-story parking garage, a water taxi jetty, and a man-made beach would be built in the next two years.

The Gurney Wharf project supports Penang 2030’s vision of a ‘Family-Focused Green and Smart that Inspires the Nation.’

State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh in his speech, stated that if not for the Covid-19 outbreak, the project would have been completed by now.

“It is going to happen,” he said.

Source: NST Online

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Straits City waterfront development masterplan unveiled

Property News/ 19 May 2022 No comments

straits-city-masterplan

The master plan for the RM3 billion Straits City in Penang, the flagship development by Singapore Exchange-listed The Straits Trading Co Ltd and Malaysia Smelting Corp Bhd (MSC), has been revealed.

Straits City is a 16.19-hectare (ha) mixed-use development in Butterworth’s excellent seaside core business district. It has residential, retail, hotel, and commercial components.

According to MSC group chief executive officer (CEO) Datuk Patrick Yong, the company possessed around 5.58 hectares (ha) of land in the development area, which is where its old tin smelting factory is located.

“We are in the process of moving and it takes time especially because of Covid-19, we lost two years…we are doing the cleaning up,” he said at a press conference after the topping-out ceremony of the Straits City development yesterday.

Straits Trading holds a 52 per cent stake in MSC, the world’s third-largest integrated tin producer.

According to Yong, the smelter is nearing the end of its operation.

Straits City, which aims to be the beacon of smart and sustainable integrated development in Penang, is scheduled to be fully constructed by 2038, said Eric Teng, CEO of Straits Developments Pte Ltd.

“As it stands in our planning, the parameters we are looking at is around RM3 billion in terms of the gross development value (GDV) but we are in the process of reviewing it, especially after the two years of Movement Control Order,” he said

The first phase of the development will contain a 23-story four-star hotel with 3,885.48 square metres of net lettable retail space. The GDV for the first phase is projected to be RM250 million.

The hotel will have 343 rooms, a retail platform, and meeting, incentive, conference, and exhibition facilities, according to Teng.

Teng said the phase one properties will open in the third quarter of 2023.

The hotel operator will be finalised by the third quarter of this year, he said.

A few big international hotel operators, he claimed, have been shortlisted.

Teng said that once the first phase of construction is completed, the other phases will commence, comprising retail, business, and residential buildings.

He also said that smart technology, like artificial intelligence-driven security systems and Internet of Things solutions, would be used to improve the quality of life in Straits City.

To limit the use of automobiles and promote walkability, Straits City will include green elements such as pedestrian-link bridges, walkways, and cycling pathways that connect the various parcels within the development.

Straits City is located next to Taman Selat, which was developed in the 1980s by Straits Trading.

It’s a timely development, coming on the heels of Malaysia’s ambitious ambitions for Butterworth and Seberang Perai, the Greater Butterworth region.

Butterworth is expected to increase to 1.2 million people by 2030, representing 55 per cent of the state’s total population, according to the State Government’s Vision 2030 plan.

Source: NST Online

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Klippa Shopping Centre and mixed-use development at Batu Kawan

Property News/ 18 May 2022 4 comments

Klippa-shopping-centre

Ikano Centres has officially unveiled ‘Klippa’ as the name of its retail destination and mixed-use development, which aims to be the cultural heart and hub for the growing Batu Kawan township. Ikano Centres is part of Ikano Retail, which owns IKEA stores in five countries as well as shopping centres that are anchored by IKEA. This is Ikano Centres’ first northern region presence.

Conveniently located with direct access to the Second Penang Bridge and seamless connection to IKEA, Klippa will offer a unique retail experience with an integrated shopping centre spanning 1.6 million sqft of Gross Leasable Area (GLA) and housing over 300 brands. Ikano Centres is also exploring additional commercial and residential opportunities to add to its meeting place, which will be developed in a phased approach to meet Batu Kawan’s growing community of students, families, and professionals at the neighbouring Batu Kawan Industrial Park (BKIP).

The first phase of Klippa was launched in December 2019 complementing a great day out at IKEA Batu Kawan with 20 brands over 80,000 sqft of GLA. Next, a unique F&B drive-thru was introduced in November 2021. Its first tenant was a McDonald’s drive-thru providing more dining options for the community. Klippa also intends to drive the local arts and culture scene in line with Penang State Government’s vision to bring arts and culture to Batu Kawan and fulfil the synonymity of Penang with street art.

Adrian Mirea, Shopping Centre and Mixed-Use Director at Ikano Centres said, “As we continue to strengthen our presence in Malaysia, we want to introduce the Ikano Centres retail experience to communities in the northern region to mirror the success of our meeting places in central and southern Malaysia. Klippa means rock or friend in Swedish, and is the perfect word play to describe Batu Kawan. With Klippa, we aim to be the rock in this growing community and to transform Batu Kawan into a successful commercial and leisure hub in Penang. The emphasis of this meeting place development is to provide visitors in the region a holistic customer experience, enhanced with convenience for all their shopping, dining, entertainment and leisure needs. In addition, Klippa will also create 5,000 job opportunities for locals to uplift the social-economic well-being of Penangites.

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Arnoud Bakker, Commercial Director at Ikano Centres said, “We look forward to welcoming more partners that share the same community-spirit, to further build a retail destination that Malaysians and tourists will want to visit. Since its opening, the first phase of Klippa has enjoyed a 98% lease rate, with established tenants such as IKEA, Harvey Norman and McDonald’s who have given us the motivation to continue developing and creating spaces for our communities. As we grow, we will continue to evaluate the needs of our customers in North Malaysia and design our Klippa meeting place accordingly.”

Bakker added, “We are also working closely in collaboration with Aspen Vision City (AVC) and our partners at the neighbouring Batu Kawan Industrial Park to position Klippa as the place where people can live, work and create memories together.”

Klippa will have the right combination of tenants to serve the different needs of its targeted consumers. In addition to the list of key tenants in operation, Klippa will soon host new openings of essential offerings and food and beverages with brands such as TMG Plus Supermarket, Mr DIY, Mr TOY, KFC, Tealive drivethru, A&W drive-thru, Coffee Bean & Tea Leaf, Kenny Rogers, Zus Coffee, Chicago Chicken City and a petrol station with an integrated drive-thru Starbucks.

As part of its name reveal week, Klippa will be organising the latest edition of its artisan Creative Spark bazaar, partnering with EKHA to organise a series of upcycling workshops. At the same time, in conjunction with the relocation of the Penang Container Art Festival graffiti artwork to Batu Kawan, Klippa will be hosting a fun run called “Klippa Art Run” this 31 July 2022 and interested participants can register online from 17 May onwards at https://bit.ly/KlippaArtRun2022.

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UPCOMING: Bukit Minyak / Thunderflash Realty SB.

Bukit Minyak/ 17 May 2022 1 comment

proposed-development-by-thunderflash-realty

A proposed gated and guarded residential development by Thunderflash Realty Sdn. Bhd. at Bukit Mertajam. Located along Jalan Bukit Minyak, just a mere minutes drive to AEON Big hypermarket at Bukit Minyak. It’s about 5km away from Bukit Mertajam Town Center, 10km to Penang bridge.

This development will offer 65 units of 2-storey terrace and 2 units of 2-storey semi-detached houses.

The project is still pending approval, more details to be available upon official launch.

Project Name: (to be confirmed)
Location : Bukit Minyak
Property Type : Residential
Total Units : 65 (terrace), 2 (semi-detached)
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Thunderflash Realty Sdn. Bhd.

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