About a year ago, news filtered through that the MPPP was revising the plot ratios for new projects and higher densities of 87 units/acre would be allowed. Continue reading »
Sep 182011
Another case of “privatisation of profits, socialisation of costs/losses”?
While certain firm(s) are making huge profits from land reclamation for their project(s) in Penang, the government, whether federal or state, may have to use public funds – that’s our money – to alleviate the damaging effects of land reclamation and mud-dumping.
A marine study commissioned by the state indicates that reclamation work has brought about significant siltation which affects the natural hydro-flow of Penang, theSun newspaper has revealed.
Reclamation may have caused changes in tidal currents
Himanshu Bhatt
GEORGE TOWN (Feb 1, 2010): Abnormal sedimentation in the wake of reclamation along Penang’s coastlines may have contributed to drastic changes in tidal currents in the Penang Channel and sea around the state.
Nov 062009
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%
