Residents of Bayan Bay are unhappy about plans for massive development and land reclamation near their area, which is already close to the massive RM10bn Penang World City project. Small office/home office (Soho) projects are creating unease in various ways and that has prompted a freeze on all new projects for now – but that doesn’t mean the project won’t proceed in the future. To placate the residents, they have been told that the height of the proposed buidlings will be reduced.
Meanwhile, Soho buyers elsewhere are disgruntled at having to pay higher commercial rates for assessment even as developers reap handsome profits e.g. by building at a higher (commercial) density.
This Soho mess was easily foreseen by many quarters.
The following press statement was issued by residents in the Bayan Bay area. (more…)