Newspaper headlines shouted that the PSR project would fetch RM70 billion real estate development value. LETTER | The Penang Transport Master Plan (PTMP) kicked off in 2013 with a RM6.3 billion agreement signed between the Penang state government and Zenith Construction Sdn Bhd to undertake the building of three highways and a tunnel. Penang reclamation project will be green, smart development: CM, Penang gov't's reclamation deal with SRS Consortium irks NGOs, Penang annouces five finalists in masterplan design for PSR, CAP says 'no' to new PDP agreement with SRS Consortium, No. The seller of the PSR land will expediently leave out any mention of defects or risks of impending sea-level rise, for fear that banks won’t finance, or insurance won’t cover the reclamation properties in a few decades. By The Sea is a truly rare beachfront property on Penang's famed Batu Ferringhi beach. At the same time, the Penang government is asking the federal government to guarantee its RM10 billion sukuk bonds issued to finance the Bayan Lepas LRT project. Enjoy a swim among the schools of fishes and experience an underwater view of a world filled with colorful coral reefs without getting wet on Langkawi Coral’s floating platform equipped with … Yet, the Penang chief minister is now in a great hurry to sign yet another PTMP agreement with an uncertain timeline. Some called it a “windfall gain of RM2.82bil” for concession holders, “effectively taking all their future profits upfront”. Chart's data … Detailed information for Port of PENANG, MY PEN. The reclamation costings set by the Penang government seem to be tied to the potential sale price of the land: RM110 psf for STP2 and Gurney Wharf land which was tagged at of RM1,300 psf in 2013, and RM56 psf or RM81 psf for PSR which could potentially sell for RM300 psf. However, an engineer will tell you that reclamation works should cost more or less the same anywhere in the Straits of Malacca; the vast difference between reclamation costings in Penang, Port Klang and Melaka cannot easily be explained even by taking into account the depth of the seabed or the distance of the sand transport. Sunrise at 07:09 and Sunset at 19:17 MYT (Malaysia Time). By The Sea property address: Jalan Batu Ferringhi, Penang, 11100 Malaysia. Sea Conditions for Penang Tide datum: Mean Lower Low Water (Satellite). But where will the majority of these residents come from? The neighbors are 5-stars hotels such as Shangri-La's Hotel, Hard Rock Hotel alongside with an array of cafes, restaurants and local amenities. A federal bailout would mean further increasing Malaysia’s debt burden – yet another case of “privatising the profits and socialising the losses”. By The Sea is a truly rare beachfront property on Penang's famed Batu Ferringhi beach. Penang vs Langkawi. This map was created by a user. The PTMP cost totals RM46 billion when the Zenith packages are included. Information about Port of PENANG MYPEN departures and expected arrivals. Famed throughout Asia for its heady mix of eastern cultures, Penang Island is Malaysia’s prime melting pot. Clearly, private developers take risks with shareholders’ money in facing the ups and downs of the property cycle. But the winds of economic fundamentals combined with political upheavals have left the project little more than a stagnant slab of reclaimed land.”. Wade Shepard, author of Ghost Cities, wrote: “Melaka Gateway was supposed to have been the catalyst that would completely alter the face of Melaka and the southwest coast of peninsular Malaysia, transforming the region from a low-key epicentre of traditional cultures and traditions - a legitimate Unesco World Heritage site - to a modern, booming, economic powerhouse. Looking for the Best Resort? Putrajaya withdraws guarantee to finance Penang LRT. Nasi kandar is a meal of biryani (flavoured) rice that is served with curries … Penang Street Art. Bayan Lepas land nearby normally sells for around RM150 per square foot, although recently commercial land was sold for as much as RM300 per square foot. The daytime temperature is going to reach 29 °c and the temperature is going to dip to 26 °c at night. The Penang chief minister has prioritised three megaprojects in Phase 1 of the PTMP - the Penang South Reclamation (PSR), the Pan-Island Link Highway (PIL) and the LRT. We provide camping ground at Penang Island. Average September sea temperature in Penang is 29.7°C/85.5°F, the minimum temperature is 28.6°C/83.5°F, and the maximum is 30.9°C/87.6°F. 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