Sunday, December 28, 2008

Prestige Heights pregress update WW52

The progress of Prestige Heights, picture taken on 28/12/2008 during my visit to the construction site. I saw they start fixing the metal roof trust on the DST, the DSSO > 50% completed. They are still clearing the land for the DSSD, so far no work on the DSSD had start yet.


Saturday, December 20, 2008

Prestige Heights pregress update WW51











Shop lot (from RM650k) = Sold out
DST (from RM488k) = Left Bumi lot
TST (from RM568k) = Still avaliable

What the developers say

Developers comments on the property sector.
The Star Online: http://www.star-space.com/news/story.asp?file=/2008/12/20/pnews/2837844&sec=pnews

"What is certain is demand has shrunk, competition is intense and every developer will have to find market share.”
- Tan Sri Liew Kee Sin, SP SETIA

“After this crisis, we think buyers will gravitate towards time-tested and proven developers in the next upcycle.”
- Joachim Ng, SUNRISE

“It is a challenging time for developers as they need to deliver world-class products without compromising on product quality and specifications.”
- Ngian Siew Siong, SUNWAY CITY

“We are going to move ahead with existing projects although we will be very careful about what we are launching and will only launch in tandem with good economic and market conditions.”
- Datuk Seri Leong Hoy Kum, MAH SING

“While the Malaysian property market should experience a slowdown next year, we fell that properties in good, prime locations will still be able to generate good demand.”
- Daniel Chan, ynh property

“We are not isolated from the effects of the current credit crunch but neither are we scaling back or deferring any of our projects.”
- Datuk Yeoh Seok Kian, YTL land & DEVELOPMENT

Ten tips for buying property

1. Location
2. Ability to repay
3. Rental or occupation
4. Quality
5. Developer's reputation
6. Neighbourhood
7. Facilities
8. Accessibility
9. Resale value
10. Financing

extract from The Star bizweek 20 dec 2008

Friday, December 19, 2008

Feature Developer (PLB Land Sdn Bhd)


PLB Land Sdn Bhd ("PLd") is a wholly owned subsidiary of PLB Engineering Berhad ("PLB"); a public listed company on the Main Board of Bursa Malaysia. PLd is the property development arm of PLB.

The Company was incorporated in 1975 as Eastern Interior Furnishing Sdn Bhd ("EI"). PLB-KH Bina Sdn Bhd ("PKH") acquired EI in 1991. PLd was injected into PLB during Initial Public Offer and subsequently changed its name to PLB Land Sdn Bhd to indicate a direct reflection of its business activities. PLd's principal activities are property development, property holding, property management and property letting. PLd has been a member of Real Estate and Housing Developers' Association Malaysian ("REHDA") since year 2000.

New Sunshine Farlim

SHOPPERS can look forward to shopping for Chinese New Year next month at a new Sunshine Farlim in Penang.The hypermarket will be moving to its new two-storey 16,723 sq m premises on Jan 10.


Suiwah Corporation Bhd managing director Datuk Hwang Thean Long said shoppers could expect a new lifestyle and shopping environment at its new mall that would feature departmental and retail outlets with value-for-money brands.An artist's impression of the new Sunshine Farlim supermarket.“The response is very good and we have all the tenants we need to fill up the building.“We are confident that we can main- tain our existing customers and maybe attract new ones too,” he said on Sunday at the official launching of Sunshine Square’s price reduction campaign in Ba-yan Baru.


The new RM20mil Sunshine Farlim complex is located near the old premises on Jalan Thean Teik.Sunshine will be hiring 1,000 employees for the new complex.Hwang said the old premises would be converted into a wet wholesale and retail market selling agricultural and aquacultural produce.“The wet market is expected to open for business soon after the hypermarket moves out,” he said.

Sunday, December 14, 2008

Feature Developer (OHM Group)

OHM Group

OHM Group is an established home builder in Northern Region of Malaysia. Being in the industry for more than 20 years, the company has successfully developed numerous property projects.

Now, the group is a property conglomerate and has abundance of property development projects. Throughout the decade, we have grown into an established property developer in Penang.

Wevsite: http://www.ohm.com.my

Prestige Heights pregress update WW49

Prestige Heights pregress update WW49
By KH
See attach picture taken on site WW49 2008:



Shop Lots = 50% completed
DST = Latest completed schedule 2b
TST = Latest completed schedule 2a

TANJUNG TOURIST MALL

TANJUNG TOURIST MALL
project by Ivory



LOCATIONThe heart of Tanjung Tokong City, at Jalan Tanjung Tokong, one of the most important primary accesses of the island.

DEVELOPMENT CONCEPT Condominiums perched above a shopping mall and retail outlets. Almost 300,000 sq. ft. of shopping area enhanced with tropical style interior design appealing landscape elements, giant palm trees, and water features.Open design to unsure good ventilation and natural lighting.A Tourist Information Center a place where tourists can rest, dine, travel, and most importantly, to get any information on Penang Island.

PROJECT COMPONENT Shopping mall, retail outlets, tourist information center, transportation hub and condominiums.



Tuesday, December 2, 2008

The future Batu Maung?

The future Batu Maung?

Big-big development in Batu Maung. For those who are coming to Penang via the future 2nd link will be welcome by this magnificent view of modern buildings. I believe the property development around this area will boost in terms of price for the next few years to come.


Thursday, November 20, 2008

Unesco status or high rise dilemma for Penang

Heritage at stake: Unesco status or high rise dilemma for Penang
By ANDREA FILMER


The Star Thursday November 20, 2008


GEORGE TOWN: The state government has found itself in a catch 22 situation – jeopardise George Town’s Unesco World Heritage Site status or run the risk of being sued for hundreds of millions by developers.

The crisis centres on the building of four high-rise hotels in the heritage core and buffer zones which violate the guidelines approved by the World Heritage Committee (WHC).

Under stringent heritage guidelines sent to the committee in August 2007, a maximum height of 18m or roughly five storeys was set for new buildings in the two zones.

“The guidelines were not made widely known when they were first put in place. Only when George Town’s Unesco status was approved did we realise the guidelines,” Chief Minister Lim Guan Eng said after a dialogue session with the Heritage Steering Committee’s

More from this link:
http://thestar.com.my/news/story.asp?file=/2008/11/20/nation/2598297&sec=nation

Friday, November 14, 2008

Work begins on Second Bridge

Work begins on Second Bridge
NST Online » Local News 2008/11/09
By : Sharanjit Singh



Penang Chief Minister Lim Guan Eng (right) with Chinese Trade Commissioner to Malaysia Gao Wen Kuan after the launch of the project site office and jetty in Batu Maung


GEORGE TOWN: Construction of the Second Penang Bridge by China Harbour Engineering Company (CHEC) finally started yesterday. The RM4.3 billion bridge was scheduled to be ready by 2011 but the project has been delayed by more than a year due to unresolved issues among parties involved in the project.CHEC now projects the completion date to be in May 2012.


Chief Minister Lim Guan Eng, who opened the project site office and temporary jetty in Batu Maung here yesterday, described the second bridge as a "bridge of hope" for Penang.Lim said the project would boost the state's economy, especially in the industrial sector, and help authorities better manage the traffic on the island. "It is indeed a historic moment for the people of Penang as the second bridge project has finally started." Present at the ceremony were Jambatan Kedua Sdn Bhd (JKSB) managing director, Tan Sri Zaini Omar, Chinese Trade commissioner to Malaysia, Gao Wen Kuan, and China Harbour managing director Sun Ziyu.At the peak of its construction, about 100 vessels and 12 piling rigs will be deployed and 1,500 people will be working non-stop on three eight-hour shifts.


The sea portion of the bridge will be built, spanning 16.37km over water, at a cost of RM2.2 billion.The amount is RM100 million less than the original tender price as the new bridge design has done away with the two viewing platforms which were originally planned.The cost was also reduced as the final contract between CHEC and JKSB allows for variation of price for base materials like fuel, cement and steel, and the re-measurement of piling work, both of which were originally the most uncertain risks to be borne by CHEC.Now, both parties will share the risk and benefits together. CHEC will be reimbursed if there is an increase in the price of materials, and it will revise the contract price accordingly if there is a drop in prices.Sun said the project had become not just any design-and-build task but a "sacred political mission" entrusted to the company by leaders of Malaysia and China.He said there were ample opportunities for local companies to benefit from the project by becoming sub-contractors, material suppliers and technical service providers."


At the moment, 30 per cent of the project management team is made up of locals and more will be engaged as work progresses."Asked if the company was confident of working without any more delays to the project, he said: "The project duration is 42 months and the completion date will be on May 7, 2012, for which we have worked out a detailed programme."We will strictly follow the contract requirements and complete the work on time. "Although we were unable to start work for the past one year, a lot of preparation work has been done, which means we are ready to carry out the construction schedule full swing."Zaini said UEM Builders, which had been offered the contract to build the land portion of the bridge, had until next week to state whether it wanted to take up the offer.He said the contract worth RM1.35 billion would be opened to restricted tenders if UEM did not take it up.

Work on sea portion of second Penang bridge begins

Work on sea portion of second Penang bridge begins

Sunday November 9, 2008 By PRISCILLA DIELENBERG TheStar

Work starts: The temporary jetty in Batu Maung built by China Harbour to facilitate logistics support for the building of the second Penang Bridge, suchas the construction materials, plant and equipment, and construction workers.

GEORGE TOWN: Construction has begun on the 16.37km sea portion of the 23km-long second Penang Bridge which will have a middle cable stayed span much like the present Penang Bridge.

The two viewing platforms that formed the “pearl” in the original design have been scrapped.China Harbour Engineering Company, which was awarded the letter of acceptance on Oct 20 for the first of three packages, began its work yesterday and is scheduled to complete the project by May 7, 2012.

China Harbour’s RM2.2bil contract for the first package covers the design and building of the main navigation span, which is a 475m-long cable stayed bridge, and the substructure and foundation works of the 15.9km approach spans.

The bridge will have a dual carriageway with two lanes and a motorcycle lane on each side. Its width will be 29.8m for the approach spans and 35.6m for the main navigation span.Speed limit has been fixed at 80kph, just as on the present bridge.

China Harbour’s managing director Sun Ziyu said that the RM2.2bil contract was RM100mil lower than the original tender price of RM2.3bil.He said the main reason for the lower contract was the decision by the project’s special task force in January to do away with viewing platforms.

He said another reason was the final contract allowed for variation of price (VOP) for base material such as fuel, cement and steel, and re-measurement of the piling works.

At the ceremony to mark the commencement of work at the Batu Maung site, Chief Minister Lim Guan Eng hoped the construction would be completed ahead of schedule by end of 2011.

Monday, November 10, 2008

WIFI project to go ahead-Jeff Ooi

9 November 2008 - 12:11pm
Penang WiFi project to go aheadBy ANDREA FILMER(Star)

GEORGE TOWN: The Penang Government will proceed with a free state-wide WiFi initiative under its Wireless@Penang project.

Jelutong MP Jeff Ooi said the state would proceed with the project as long as there was no conclusive evidence of health risks posed by the initiative.

“There will always be dissenting views and it is only fair that we engage them and share our information. From our perspective, it is a measured risk but we have to do things for the larger group of society.

Thursday, November 6, 2008

Penang's gangster contractor/developers are still free to squeeze house buyers!

Wednesday November 5, 2008
Gangster contractors(Star)

AS a new homeowner living on Penang island, it has come to my attention that they are certain developers who allow gangsters to run renovation projects and businesses within their premises.
The process goes like this: The developer who is either most probably involved in such activities or has come to an agreement with local gangs for not causing trouble within their given area, fails to inform potential buyers that they will have to deal with these gangsters for the renovation work.

http://www.penangwatch.net/node/3202

Firm to start work on second Penang bridge


Monday November 3, 2008 TheStar

THE Chinese construction firm awarded the contract to build the base of the second Penang bridge would start work next week, Sin Chew Daily quoted China’s Ambassador to Malaysia Liu Jian as saying this.Despite the global financial crisis, construction of the bridge would proceed after several problems were resolved, he said at a dinner organised by the Federation of Malaysia China Trade Associations on Saturday.He added that he would be visiting Penang to witness the commencement of the construction work.Liu said the commencement of project during the financial crisis showed the good relationship between China and Malaysia, adding that Malaysia played a crucial role in trade and investment in China.The bilateral trade between the two countries had reach US$55bil (RM195bil), he said, making Malaysia China’s largest trading partner in Asean, the daily reported. Work on the 22.5km bridge is scheduled to start on Nov 8 and completed in 42 months.

An artist's impression of the new design for the second Penang bridge

Saturday, November 1, 2008

Widening Of The First Penang Bridge

Info taken from the Penang State Website at


Construction Period : 33 months
Start Date : 27 December 2005
End Date : August 2009




Prestige Heights pregress update

This are some of the pictures taken today to show the construction site pregress of Prestige Heights (Teluk Kumbar).

Penang Travel Tips

For those who want to know more about Penang, this site is quite useful. The site guides you with lots of pictures, maps, recommendations and tips for new and regular visitors. Hope this site will help you...

http://www.penang-traveltips.com/

Sunday, October 26, 2008

Feng Shui Tips for Property Investor

This atricle is taken from Henry Butcher's website.
Contributed by Master Soon Gim Horng of Oriental Wisdom Sdn. Bhd.

Teluk Kumbar – the ultimate auspicious location The construction of the 2nd Link will benefit Bayan Lepas, Batu Kawan, Batu Maung and Sungai Ara. However, the ultimate auspicious location will be TELUK KUMBAR. The value of real estate and land in Teluk Kumbar will appreciate beginning 2009 concurrently with the 2nd Link construction. If the 2nd Link at Batu Maung starts in 2008, the movement of feng shui energy will spill over to Bayan Baru, Bayan Lepas and Sungai Ara particularly in 2009, 2012, 2013, 2016 and 2017. Don’t miss this golden investment opportunity.

Teluk Kumbar and Gertak Sanggul will start to transform into tourist spot in year 2016, although with smaller scale compare to Batu Feringghi.

What’s in for South West District?
The location that will benefit the most from now till year 2043 is Teluk Kumbar which is auspicious due to its geographical makeup flanked by hills on three sides and a crescent-shaped bay to conserve chi energy. 2 reasons to recommend south west district for middle range investment from feng shui perspective :- Firstly, south west district enjoys Wealth & Material Development from 2004-2023.Second, west district will enjoy Political & Authority Development from 2024-2043.

http://henrybutcherpenang.com/feng-shui-tips-for-property-investor.html

Penang rolls out welcome mat for Mideast investors

By Marina Emmanuel

Published: 2008/09/30
Business Times Online

PENANG is looking to draw at least RM100 million in investments from the Middle East soon to develop a halal hub.Investors from Middle East are also eyeing Penang as a site for real-estate development and managing syariah-compliant resorts, State Domestic Trade and Consumer Affairs Committee chairman Abdul Malik Abdul Kassim said yesterday."Beginning October 6, several large- and medium-sized Saudi-based companies will be visiting Penang to continue talks the state government initiated during a visit to the Middle East three weeks ago," he told a press conference in George Town. Also present was Chief Minister Lim Guan Eng.The companies which are due in Penang next week include the Al-Balagh Group which is engaged in food and meat processing, cattle rearing and halal supermarket chain stores, cutlery and stainless steel firm Al-Hayat, solar panel maker Al-Hayat Solar Energy and food processing and packaging company Al-Takamol.

more, please refer to the link below:
http://www.btimes.com.my/Current_News/BTIMES/Tuesday/Nation/mari29.xml/Article/index_html

Friday, October 24, 2008

Prestige Heights by PLB Homes
















Location: Teluk Kumbar, Penang

An exclusive collection of 97 units of freehold low density luxurious landed property and 14 units shop offices in a strategic location. Prestige Heights is the address to be reckoned with as part of the integrated community development on the island of Penang. The exclusive designs of the homes and shop offices are planned with care, taking into consideration the efforts to enhance residents' convenience and confort.


Progress monitoring dated 25/10/2008





Gurney Paragon by Hunza


Gurney Paragon
This freehold land, measuring 10.21 acres, being the latest addition to Hunza Properties Berhad's landbank is strategically located in one of the most prestigious and established addresses along Penang's renowned promenade - the Gurney Drive. It has the frontages of both Gurney Drive and Jalan Kelawai.
The proposed integrated development in this famous tourist attraction landmark comprises 2 blocks of high-end condominiums and a shopping mall of more than 1 million sq ft retail space which will be built around the St Joseph's Novitiate, a heritage masterpiece. St Joseph's Novitiate is under proposal to transform to its original outlook and shall house boutique retailers and restaurants.



Monday, October 20, 2008

Recommended Home Loans in Malaysia


This website from The Star Online is useful for those who are looking for the best rate for different types of loan. However, do your own research is always the best because this is just a general guideline about what's the latest that they offer. Pls click here to redirect to the link < http://star-space.com/homeloan/loantable.asp >


Saturday, October 11, 2008

From vegetable farm to township

By Regina William

Eight years ago, if you had driven to Penang island from the Penang Bridge heading towards George Town, a vegetable farm would have been among the first things you saw as you cruised along towards the Udini underpass. Today, that vegetable farm is MetroEast — a thriving self-contained development by IJM Land Bhd. The 30-acre freehold MetroEast site is part of the 324.9 acres allocated to IJM Corp by the Penang government in exchange for the construction of the 4.8km Jelutong Expressway, a toll-free highway allowing alternative access into the city centre.... more< http://www.skyscrapercity.com/showthread.php?t=336214&page=74 >

Thursday, October 2, 2008

Wednesday, October 1, 2008

The blog begins today

Warm Wishes,

Selamat Hari Raya to all Malaysian, this blog is created for sharing comments about the development in Penang. We see rapid growth in high rise condo, landed property but how about the roads? Hmm...