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Road completion delayed one more year

Article of October 13, 2010

THE RM57mil Teluk Kumbar-Pekan Genting road straightening and widening project in Penang has been delayed yet again.

The project, which was scheduled for completion next month, will only be ready by Sept 19 next year.

State Works, Utilities and Transportation Committee chairman Lim Hock Seng said the delay was due to technical site problems.

“The contractor faced problems because of the hilly terrain and slopes. To date, 72% of the work has been completed. We have been opening the road in sections. The final stretch will be ready in about 10 months and hopefully there will be no more delays,” he said on Monday.

Lim said road users need not worry about the rainy season as erosion and landslides were unlikely.

“Work on the dangerous areas have been done,” he said, adding that the wet season would not slow down the workers.

The road straightening and widening project is slotted under Package 2B of a three-package project to straighten and improve the road between Bayan Lepas and Balik Pulau.

It commenced in April 2005 and was originally scheduled for completion in April 2007 but was abandoned in May 2008 after several extensions of the deadline.

Sarahon Construction Sdn Bhd, a Class A bumiputra contractor from Sarawak, was finally selected to finish the Federal Government project.

The project, which is deemed to be crucial for positive development of the Balik Pulau area, involves the building of six bridges to cut off road bends that will make journeys to Penang island’s southwest area both safer and shorter.

The new road will shorten the drive (from Bayan Lepas to Balik Pulau) by about 10 minutes while cutting down the distance from 4.5km to 3.3km.

Package 2A to widen and straighten the road between Teluk Kumbar and Bayan Lepas town was not approved under the 9th Malaysian Plan.

Package 1 to widen and improve a 2.5km stretch between Balik Pulau and Pekan Genting has been completed.

Quoted:

http://thestar.com.my/metro/story.asp?file=/2010/10/13/north/7204827&sec=north

UPDATE:

THE road straightening and widening project between Teluk Kumbar and Pekan Genting in Balik Pulau will now only be completed in November.
Quoted: (http://www.bayancity.com/a-long-and-winding-road/)

Surge in luxury condo launches

GEORGE TOWN: More than 600 high-end condominiums will be launched on Penang island before the year-end.

Although local property prices have not been significantly affected, the volume of transactions has dropped slightly since January.

At present, landed properties in Penang are still holding firm at RM600,000 to RM700,000.

Mid-end high-rise properties are still priced between RM300,000 and RM400,000 for a 1,000-sq-ft unit, depending on their size and location.

(Clockwise from top left) Artist impressions of the Pavilion Tower by Tropical Hill Property, infinity swimming pool inside the Pavilion Tower, and IJM Land’s the Light Linear and the Light Point

Henry Butcher Malaysia (Penang) vice-president Shawn Ong said to bolster sales during the current challenging property climate, zero interest financing packages introduced for purchasers by developers have worked quite well.

“The latest residential product is the ‘mini superb condominium’.

“It is dubbed ‘mini superb condo’ because of its size but they offer five-star facilities like normal super-condo projects.

“Prices range between RM500,000 and RM1mil, depending on their size, location, design, concept, and specifications,” Ong said.

The normal super condos are priced from RM2mil, have built-up areas of over 5,000 sq ft, and are located in prime locations such as Gurney Drive, Pulau Tikus and Tanjung Bungah.

Market prices for such properties on Penang Island had generally remained stable, Ong added.

“The up-market high-rise residential development trend on Penang Island has changed over time. Initially, these developments were more prevalent in the north-western and north-eastern parts of the island such as Pulau Tikus, Gurney Drive, Tanjung Tokong and Tanjung Bungah areas.

“However, due to the availability of relatively lower priced land, good population catchments and better accessibility (improved infrastructure), the focus moved towards the south of island, for example, along and off the Jelutong Expressway, Sungai Nibong, Bayan Lepas Expressway, and Bukit Jambul areas,” he said.

Ong said the demand for “mini superb condos” was expected to be encouraging given the sizeable young population in Penang and the higher household formation rate compared with the population growth.

“Affordability is today supported by low interest rates and the innovative easy payment schemes provided by developers.

“Investment interest in real estate is high given that alternative investments are less attractive today.

“Since the island has limited suitable land for development, most investors and house buyers are confident in the longer-term growth potential of such value-added residential properties,” he added.

Scheduled for launch by year-end are 568 mini superb condos by IJM Land Bhd’s The Light project, comprising The Light Linear, The Light Point, and The Light Collections schemes, located on a 16.8-ha freehold site off the Jelutong Expressway.

IJM managing director Datuk Soam Heng Choon said The Light would offer unique themes and facilities normally found in super-condo projects.

“The Light Linear project comes with fibre optic ICT infrastructure and a comprehensive range of home automation and recreational facilities, including a putting green.

“The unique features are the green concept and water features in all the properties,” he added.

The Light Linear units have built-up areas of 1,475 and 1,561 sq ft and are priced from RM522,000, or about RM354 per sq ft.

The Light Point and The Light Collection residences offer bigger built-up areas ranging from 1,371 to 4,090 sq ft.

“Their pricing starts from slightly below RM1mil, which is still lower than the price of normal super-condo units,” Soam said.

Another Penang-based developer, Tropical Hill Property Sdn Bhd, is scheduled to launch its mini superb condo project late this year.

The 22-storey Pavilion Tower on a 1-ha site in Teluk Kumbar comprises a block of 99 units with built-up areas of between 1,477, 1,616 and 5,000 sq ft.

Tropical Hill Property managing director Datuk Loh Geok Beng said the units would be priced at about RM320 per sq ft.

“The low-density project, located close to the Penang International Airport and the Penang Bridge, is equipped with full recreational facilities including a swimming pool and community hall that can accommodate 500 people,” he said.

Link to connect Bayan Lepas to Teluk Kumbar proposed

A RM50mil road connecting Teluk Kumbar to Bayan Lepas in Penang is at the top of the Balik Pulau Barisan Nasional division’s wish list for the 10th Malaysia Plan.

Division chairman Datuk Seri Dr Hilmi Yahaya said apart from proposals sent by the state government, he had also sent a separate list of proposals to the Economic Planning Unit (EPU) on behalf of his division.

“The Balik Pulau/Bayan Lepas road is currently under construction so now, the only missing link is a road connecting Teluk Kumbar to Bayan Lepas.

“Our proposal details a four-lane 4km road, in which half of the Bayan Lepas town will have to be acquired,” he told reporters after closing a Community Carnival held in conjunction with the Penang National Park’s seventh anniversary on Sunday where the Kerachut Conservation Run was also held.

Just rewards: Kerachut Conservation Run winners Mohamed Hafiz Mansor (right) and Stephanie Chong holding up their challenge trophies. The run was held in conjunction with the Penang National Park’s seventh anniversary.

Dr Hilmi said road congestion was bound to get worse after the Second Penang Bridge, linking Batu Kawan to Batu Maung, was completed as road users would feed into the existing roads en route to Bayan Lepas.

“Currently, the roads are heavily congested every morning on weekdays as 20,000 residents in Teluk Kumbar and Sungai Batu travel out of the outskirts for work.”

He added that a proposal to build a cultural centre in the Balik Pulau area was also among the “many” proposals sent to EPU, but declined to elaborate on the other suggestions.

On a related matter, Dr Hilmi said he had been in contact with the Northern Corridor Implementation Authority (NCIA), the implementation body of the Northern Corridor Economic Region (NCER), to transform three old warehouses at the Swettenham Pier into a duty free traders’ centre.

“Two warehouses are empty while one is being used for storage. They are heritage buildings, so we cannot demolish them but we can modify them to suit our purposes,” he said, adding that the buildings had been under-utilised for as long as he could remember.

He said the area could be filled with both local and foreign shops that would serve the one million expected tourists coming to Penang by cruise this year.

“We also want to incorporate a place for cultural shows where tourists and locals alike can visit for food and drinks.”

Hidden cove of Sungai Batu, Teluk Kumbar

I got this blog entrée from

http://www.penangfaces.chanlilian.net/hidden-cove-of-sungai-batu-teluk-kumbar/
very interesting stuff....( Especially for those who like picnic, sun bathing or fishing)

=============================================================

The road leading to the place is lined with white picket fences, colourful flowers, neat little kampung houses and friendly children.

It is almost an unknown place except for the locals. Located in Sungai Batu, Teluk Kumbar is a stretch of beach with white sandy beaches and casuarina trees. There are no road signs. We only knew about it because my husband is born and bred in Teluk Kumbar.

Before reaching the beach, one will pass by a huge, green lake. Lotuses grow in the pond. Beautiful!

The long stretch of sandy beach is, of course, not up to ‘tourist standard’ of white, powdery sands and blue, sparkling water. But still, it is pretty nice.

My kids love playing in the sand. This stretch of beach seems to have more sea shells than any other beaches around Penang. I am not sure why, though.

We had spent many weekends there. Kids playing with sands whilst we fish. No big fishes but then, the fishes are biting, so who can complain? We caught gelama, keli, small stingray and the likes. Most of the time, we threw them back into the sea because they are tiny.

How to go : On the way to Teluk Kumbar, there is a mosque on the left side. Turn in Jalan Sungai Batu and from there, grope your way around. You need to ask the villagers.

Warning : Bad stretch of road, sometimes muddy during rainy seasons. Be prepared to sweep and clean the surroundings first before settling down. Some locals may not be friendly as they do not welcome huge crowds. No toilets nor changing facilities.

This place was spared during the tsunami.

Government To Expedite Road Widening Project In Penang

Another interesting article i found ...

PENANG, Jan 4 (Bernama) -- The federal government has agreed to expedite a project to widen four roads between Bayan Lepas and Teluk Kumbar, originally scheduled for completion in 2010, due to worsening traffic congestion.

Finance Ministry parliamentary secretary Datuk Seri Dr Hilmi Yahaya, who is MP for Balik Pulau, said RM200 million had been allocated for the project.

The roads involved link Bayan Lepas and Teluk Kumbar, Bayan Lepas and Batu Maung, Bayan Lepas and the coastal expressway interchange as well as the one connecting the expressway and the cargo interchange.

He told reporters here that the roads would be ready by the time the Second Penang Bridge between Batu Kawan and Batu Maung was completed in 2011.

Hilmi said the tender for the road widening project would be opened this month.

According to him, a temporary diversion would soon be opened during peak hours at Taman Seri Bayu heading towards Jalan Ismail Hashim to reduce congestion.

"The RM8million diversion will open for two hours in the morning and another two hours in the evening," he said.

-- BERNAMA

Teluk Kumbar Road: Back on track

Another interesting road article on Teluk Kumbar area....

THE RM57mil Teluk Kumbar-Pekan Genting road straightening and widening project in Penang is set to be revived as a new developer has been appointed to complete the abandoned project.

State Works, Utilities and Transportation Committee chairman Lim Hock Seng said the Federal Government had chosen Sarahon Construction Sdn Bhd, a Class A bumiputra contractor from Sarawak, to finish the project by late November next year.

“The company was awarded the contract with a value of RM42.05mil and given possession of the site on May 27.

The unfinished road structures at the Teluk Kumbar-Pekan Genting road will be finally completed by a newly appointed contractor by November 2010.

“The project was about 76% complete before it was abandoned. We have about 24% to go and under the contract with the new developer, work has to be completed within 78 weeks,” Lim said.

Asked why the completion of the project was projected so late despite more than three quarters of it being finished, Lim said the developer had to set up the basic infrastructure for work to proceed.

“The contractor will have to start anew in terms of work facilities as the ones that were there before had either been demolished, removed or stolen.

“They will have to do everything from setting up the official command post, installing a telephone line, making sure there is an adequate electricity and water supply and so on.

“It will take one to two months to have the work in full swing so the time frame in the contract allows for that,” he said.

An unfinished bridge, one of six to be built under the RM57mil Teluk Kumbar-Pekan Genting road straightening and widening project, will be finally completed by a newly appointed contractor.

The road straightening and widening project is slotted under Package 2B of a three-package project to straighten and improve the road between Bayan Lepas and Balik Pulau.

It commenced in April 2005 and was originally scheduled for completion in April 2007 but was abandoned in May last year after several extensions of the deadline.

The project, which is deemed to be crucial for positive development of the Balik Pulau area, involves the building of six bridges to cut off road bends that will make journeys to Penang island’s southwest area both safer and shorter.

“The construction of the road will shorten the drive (from Bayan Lepas to Balik Pulau) by about 10 minutes.

“The journey will also be cut down from 4.5km to 3.3km in distance. The road is very important for Balik Pulau’s growth and to uplift the surrounding areas,” Lim said.

Penang seeks funds to widen road

THE Penang Government has applied for a RM240mil allocation from the Federal Government to widen Jalan Bayan Lepas, said state Public Works, Utilities and Transportation Committee chairman Lim Hock Seng.

He said the application was made late last year under the 10th Malaysia Plan, adding that he was informed by the Public Works Department that the chances of getting approval for the allocation were high.

Lights on: The new traffic lights system was switched on at the Jalan Dato Ismail hashim junction in Bayan Lepas yesterday.

The 7.2km-stretch earmarked for the widening project starts after the flyover at the Penang International Airport, and heads towards the Bayan Lepas town right up to Puspakom in Teluk Kumbar.

“This will become an important stretch when the Second Penang Bridge is completed in 2013.

“If the two-way road is not upgraded, there will be massive traffic jams then,” he told reporters after switching on the traffic lights at the junction of Jalan Datuk Ismail Hashim in Bayan Lepas, Penang, yesterday.

Lim said it was crucial for the widening project to be implemented soon as the traffic flow at the stretch was now heavy.

“I really hope the Federal Government will take into consideration the need to upgrade the stretch of road for future development,” he added.

Signature water homes by KL Metro Group

Another article....

Boutique property developer KL Metro Group is gearing up to expand its signature water homes resort to Penang, said Datuk Low Tak Fatt, managing director, KL Metro Development Sdn Bhd during a press conference on Oct 27. Water homes are properties built on a platform or surface over water, in this case, over the sea.

This project is the company’s first in Penang and the 460 units of water homes will be situated in Teluk Kumbar, a fishing village on the southern part of Penang island. According to Low, the water homes will be built in the shape of Malaysia’s national flower, the hibiscus, hence the name of the project, The Hibiscus in Penang.

The company is in the midst of obtaining approval for the development and aims to launch the project by the middle of 2010. KL Metro Group is also seeking to trademark the name, The Hibiscus as the company plans to develop similar water homes in other parts of the country under the same brand name, said Low.

Low also announced the completion of phase 2 of KL Metro Group’s RM160 million gross development value (GDV) water homes project in Port Dickson, The Legend International Water Homes. Phase 1, the Legend Water Chalets comprising 329 units, opened it doors in October 2006.

All units in phases 1 and 2 have been sold on a leaseback arrangement whereby the developer leases the sold units back from the buyer. According Low, the buyers have a 10-year contract in which they are paid 8% per annum of their purchase price.

The Legend International Water Homes comprises of 249 units. Each unit comes with its own swimming pool and is sized between 1,000 sq ft and 1,300 sq ft. The resort will be managed by the Legend Group of Hotel & Resorts. The Balinese-themed luxury resort is expected to generate an occupancy rate of at least 55% from foreigners.

Low is optimistic the resort business will perform well. “Firstly, the supply of water homes in the market is very limited. The strong demand for water homes is proven in the high room rates charged by other water homes resorts like Pangkor Laut, Avillion and our Legend Water Chalets. It is our company’s philosophy to develop more high-end resort homes in the country as well as abroad,” said Low. The Legend Water Chalets enjoys an average occupancy rate of 60% to 65% all year round.

Addressing the tsunami threat, Low assured that based on the geographical position of the country, the chances of being hit by a tsunami are very minimal. “To give that extra assurance, we have arranged for insurance coverage for the property owners,” added Low.

Also in the pipeline are phase 3 of its Port Dickson water homes development, 74 units of landed resort homes with a GDV of RM45 million and 30 units of freehold semi-detached houses in Bangi with a GDV of RM25 million.

“We are exploring opportunities in China and Vietnam as well and are still in the midst of discussions with the relevant parties. We are also doing heavy marketing overseas to draw more tourists to our resorts,” said Low.

The Legend International Water Homes is slated for a soft opening on Nov 1, offering an average promotional rate of RM550 to RM900 inclusive of breakfast and dinner for two. - By E.Jacqui Chan (The Edge Property)

KL Metro's water home project gives high returns

Yet another interesting article i found...

WANT your investment value on a property asset to grow substantially? You can consider putting your money in a water home project near Port Dickson, Negri Sembilan.

By paying from RM280,000 to about RM500,000 for each unit of Banyan Curve Water Homes, property developer Kuala Lumpur Metro Group (KL Metro) has guaranteed investors of a high rental return of 8 per cent per year.

Purchasers can buy the units for their own use or alternatively opt for the rental guarantee scheme where they can lease back the unit to KL Metro for three to 13 years and enjoy the fixed rental income at 8 per cent per year of the purchase price, executives of KL Metro group said.

During the leaseback period, owners will also enjoy 10 nights of free stay per year.

KL Metro, through subsidiary Kuala Lumpur Metro Development Sdn Bhd, has started work on building 249 units of Banyan Curve Water Homes, after having completed the first 392 water chalets under the Legend Water Chalets development in October 2006.

KL Metro group chairman Mat Hassan Esa said it had already sold 50 per cent of the water chalets, garden chalets and serviced suites under the Banyan Curve development, mostly under rental guarantee scheme.

Most buyers are from the Middle Eastern countries, Japan, China and South Korea.

"We are targeting to sell about 70 per cent of the Banyan Curve units to foreigners. We should generate total sales of RM140 million for the project," Mat Hassan told reporters after the groundbreaking ceremony of the project by Deputy Tourism Minister Datuk Donald Lim last Thursday.

"KL Metro will become the biggest water chalet developer with a total of 641 units under the Legend Water and Banyan Curve projects," he claimed.

"Over 97 per cent of the Legend Water Chalets have been sold and most of them are under leaseback arrangement. About 100 of the buyers are from over 20 countries from North America and Europe to West Asia and Asia Pacific. The rest mainly comes from the Klang Valley," Mat Hassan said, adding that some RM120 million in total sales had been generated from the project.

Banyan Curve, sited on leasehold land, has a gross development value of RM110 million and is due for completion by December 2008. Located 4.8km from Port Dickson town, the chalets are built on stilts and are furnished with special stone works imported from Bali.

Each unit has a private pool, an open garden and a see-through flooring in the centre of the bathroom.

Facilities at Banyan Curve include a restaurant, lobby lounge, business centre, conference rooms, banquet hall, convenience store, mailroom, reception area, housekeeping and restrooms.

"We believe we are among the few who have develop chalets with private pools," Mat Hassan said, adding that the price of the chalets and suites is inclusive of fittings, furniture and furnishings.

Like the earlier Legend Water Chalets, Banyan Curve will be managed by the Legend Group of Hotel and Resorts, a member of the Metroplex group.

Mat Hassan also said KL Metro is teaming up with the Malacca State Government to develop a water chalet project in Tanjung Keling by the end of the year.

It is also scouting for land in the Klang Valley, Ipoh and Penang for possible maiden ventures into residential housing development.

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.

Model Replica houses for all projects

We are now displaying the Model house for TK Residence and Casa Perdana at our sales and marketing office:
29, Lebuh Melaka (or Melaka Street) 10400, Penang.
I have made these 2 maps that i hope can give you a clear understanding of the location.

The Bigger picture

The "Zoomed" in version

These maps are made printable for your convenience. We are here during weekdays from 11 am - 5 pm (Weekdays only) [We are usually on Pavilion Resort sales office on Saturdays and Casa Perdana Showroom on Saturday & Sundays) but Please do give us a call first before coming as to avoid any disappointment. We are marketers so we would always be in and out of the office; so its best that we are informed of your visit so we can attend to you.

In case if your wondering of our involvement with the developers, we are currently the exclusive marketing negotiators for the developers, VST and MS Tropical Hill (fully sub of Wabina Holdings Sdn. Bhd.). Their replica model is also available for viewing at No.1 Halaman Melaka. Click here for the post on the location map and how to get there.

Talking about that, we have just soft launched MS Tropical Hill's latest project, which is 5 minutes away from the Penang International Airport. Yes, ladies and Gents...I am talking about the beautiful, overlooking the southern Penang sea view and stand alone Pavilion Resort! (Well yes, of course the "beautiful" introduction of PR (Pavilion Resort), its obvious because im selling it and its a very good product, that i can tell you... =) ). Pavilion Resort was also known previously as Pavilion Tower, Pavilon Tower or even Tropical Hill (as the current hoardings put it). Resort living, at its best on easy, breezy and busy Teluk Kumbar zone!

I hope you guys give lots of support and attention to this project because its going to be the next boom in Penang property market, especially on the Southern - Teluk Kumbar side!

Okay, Booming out....
Mike

Penang 2nd link boost for southwest district

Dear all,

I found an article taken on Feb 2007 that was written in regards to the Teluk Kumbar area,

Since 2007, there are allot of changes till now 2010, especially in the property sector.

Prices we have seen, dramatically increase due to the second link of the Penang bridge.

Teluk Kumbar has then seen to continually rise in demand as investors and home makers alike open their eyes to a new land, filled with potential for development.

I only hope that the development won't be "too much" till all we know of the original Teluk Kumbar that is filled with all greenery and nature surroundings be swept away with the wave of development.

We are also coming up with a video commercial (due to high demands) so stay tune! :)

Heres the article: (please do let us know what you think of it)

Taken from The Star

Monday February 12, 2007

PRICES of properties in Penang’s southwest district have been on the rise for the past five years due to the shortage of land in the northeast district and the anticipated location of the second link in the southern part of the island.

BHL Property Consultants principal Lim Beng Hai said that in Batu Maung, for example, property prices appreciated between 30% and 45% over the last five years.

“Double-storey terrace houses in Batu Maung are now selling at around RM400,000, compared with about RM280,000 in 2001,” he said.

“Properties in Batu Maung fetch better prices because they are closer to the factories and airport,” he added.

In Teluk Kumbar, double-storey terrace houses were priced in the range of RM200,000 to RM260,000 in 2001.

Mark Saw

“Now their prices are between RM280,000 and RM350,000, depending on the location and size.

“Over the five-year period, there has been an increase of 25% to 35% for all types of properties in Teluk Kumbar,” he said.

In Balik Pulau, double-storey houses were sold for between RM170,000 and RM200,000 in 2001.

“Today, they are priced from RM250,000, representing a 15% to 25% jump over the five years,” Lim said.

How high property prices in the southwest district surge depends very much on the properties' locations – for example, if the houses are fronting the sea or if they are located within a new township with resort facilities and environment.

PPC International Sdn Bhd director Mark Saw said the newly launched Vanilla Bay properties by Guan Bee Hup Kee Realty Sdn Bhd, comprising 83 units of double-storey terraces, were priced at about RM320,000, 5% higher than properties of a similar type introduced in the earlier part of 2006 because they were fronting the beach.

He said the units in the Vanilla Bay project were now about 60% sold due to their beachfront location and uniquely designed 6m high car porch, which gave the terrace unit a grand facade.

“Another housing scheme which has seen good appreciation is Viva Hill’s project launched at the end of 2005, which comprises semi-detached homes.

An artist’s impression of Vanilla Bay in Teluk Kumbar, Penang

“The Viva Hill properties have seen over 10% increase in prices in just under a year due to its proximity to the sea. They are now priced between RM500,000 and RM710,000, compared with the original prices of RM450,000 to RM650,000,” he said.

Saw said the appreciation of the Asia Bina Sdn Bhd properties had been slower because they were not fronting the sea.

“Over the past two years, Asia Bina's terrace properties had risen by about 5%. But now, with the second link being built, we can expect their prices to rise.”

New up-market township schemes such as the nearly RM1bil BOTANICA.CT in Balik Pulau has a positive effect on prices of landed properties located within the project.

Prices in BOTANICA.CT are priced higher than a similar range of properties in other parts of Balik Pulau because of the scheme's resort environment and amenities.

“BOTANICA.CT is planned to accommodate a lifestyle village, an educational institution, a health retreat and spa resort, market, hypermarket, transport terminal and medical centre.

“Because it is a self-contained township with upmarket facilities, the residential units in the scheme are priced between 15% and 20% higher than a similar range of properties launched a year ago in other parts of Balik Pulau,” said MTT Properties and Development executive director Dr Angela Teoh.

A bungalow in BOTANICA.CT is tagged at RM700,000, about 20% higher than similar units launched in other parts of Balik Pulau a year ago.

On double-storey terrace houses, Teoh said MTT was now selling such properties from RM270,000 onwards, compared with about RM230,000 for a similar range launched a year ago in other parts of Balik Pulau.

MTT is developing 1,979 landed and medium-rise residential and commercial units for the BOTANICA.CT project.

“About 70% are landed residential properties, while medium-rise residential and commercial units make up 25% and 5% respectively,” she said.

Teoh said MTT would start the second and third phases of the scheme in 2008, which would see the launch of 640 affordable apartments and 120 units of landed properties.

TK Residence: Location

Dear all,

Here are some map location to the TK Residence project.
Please feel free to comment.

Thanks!

From the BIG map, we can see the route from the airport, leading to the project site

A smaller and detailed map indicating the names of the road

Getting there

The actual location, taken from google map

Till more updates..Thanks! :)

TK Residence perspective

Dear Friends,

Here are some perspective of the TK Residence project.

Our soft launch would be somewhere in July at the new Anson Road office
(Opposite KDU College Penang)

As said earlier on, the price hasn't been determined yet, but stay tune to our latest updates!

Thanks, and more updates soon!

TK Residence

Here is another great project we are proud to present: TK Residence

TK Residence is located at Teluk Kumbar, a residential property project by VST Group. Ideally located with easy access to the Bayan Lepas Industrial Area, Penang International Airport and the 2nd Link Bridge.

TK Residence comprises 30 units of 2 storey terrace house. Each terrace house comes with land area measuring from 20' x 60' and built-up area of 1,780 to 1,953 sq.ft.

Property Project : TK Residence
Location : Teluk Kumbar, Penang
Property Type : 2-Storey Terrace House
Tenure : Freehold
Built-up Area : 1,780 - 1,953 sq.ft.
Land Area : 1,200 – 2,600 sq.ft.
Total Units : 30
Developer : VST Group
Website : www.vstgroup.com.my

The price for the project is still under review, so please stay tuned for more updates!

***We have updated more post on this project, so please click here to see all posts!***