KL Metro to introduce water chalets to Penang

Found some interesting article on Teluk Kumbar on the net, i just wanted to share it with you guys..

PROPERTY developer Kuala Lumpur Metro (M) Sdn Bhd (KL Metro) will replicate the success of its water chalets resort development in Port Dickson to Penang this year.

The developer, which first embarked upon the development of The Legend Water Chalets in Port Dickson, plans another water chalet project, albeit a higher-end one, at Penang island's south-western tip in Teluk Kumbar.

The company has acquired eight hectare, of which 7.2ha is over water, to build 326 units of water homes for the proposed project, which is set to carry a development value of RM200 million.

"The project involves sea reclamation of about 1ha for subsequent construction of a clubhouse, swimming pools, podium park and support facilities," KL Metro managing director Datuk Low Tak Fatt told reporters at Penang chief minister Lim Guan Eng's office in Penang yesterday.

Low said prices of the water chalets and sky pool villas, which will feature private pools and jacuzzis, are likely to range between RM500 and RM600 per sq ft.

The floor areas for the units offered will range from 800 sq ft to 1,200 sq ft.

"We expect the project to commence by late 2009, after the necessary approvals are obtained," Low added, saying that the project will be self-funded by KL Metro.

"The size of the sea reclamation is relatively small (about one- seventh of the total area) and we are undertaking to comply with all the guidelines and conditions laid down by the Department of Environment, and the Drainage and Irrigation Department," he said.

The company expects to complete the project 36 months from the date of commencement.

Low said a renowned hotel operator will be appointed to manage the resort upon completion, which is slated in late 2012.

"We plan to put up 75 per cent of the total units for sale, while the balance 25 per cent will be held by KL Metro," Low said.