Something is happening at the Subang Ria Recreational Park and it doesn’t sound good. Although the state government had agreed that all 73 acres will be maintained as a green lung, it appears that 19 acres could now be allowed for commercial use.

Sunrise over Subang Ria Park - Photo credit: subangdailyphoto.blogspot.com


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Why can’t they learn from the 350-acre Hyde Park and the 275-acre Kensington Garden (both combined, larger than the size of Monaco and lying right smack in the middle of London), which are virtually untouchable? But then some of our developers are greedy and think nothing of depriving present and future generations of precious green spaces. All they can think of is $$$ Continue reading »

 

While more property development projects are in the pipeline, the research unit of a local bank, CIMB Research, has reportedly warned of a “significant” commercial property glut in Penang. From an Edge report:

Occupancy rates:

  • Office space: 76% (the lowest in Malaysia)
  • Retail space: <70% (second lowest in Malaysia)

“There appears to be a significant glut in Penang, which would worsen if more office and retail space were built.”

  • Beach hotels: 63% (3rd quarter, 2009)
  • George Town hotels: 68%
  • Hotels outside city: 37%

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