Heeding Bayan Bay residents’ protests, the Penang state government has called off a controversial proposed agreement to allow Boustead Holdings Bhd to reclaim land as compensation for having to scale down the firm’s hotel along Weld Quay. Continue reading »
Nov 032010
A proposal for a no-car zone in the heritage enclave could be deliberated in the MPPP’s next full council meeting.
State exco member Lydia Ong reportedly made the suggestion to MPPP president Patahiyah Ismail, who seemed receptive to the idea. She suggested that certain parts of the heritage enclave and the Esplanade could be made off limits to cars from 6.00am to 2.00pm on Sundays. Continue reading »
Boustead Holdings Bhd has announced that it has not yet struck a deal with the Penang state government on the terms of the compensation for the scaled-down Royale Bintang Hotel project in George Town’s world heritage site core zone.
The firm said the compensation may include BHB being allowed to reclaim land on Penang island.
The question to ask is, should the local government compensate or fully compensate a firm for loss of future profits or gross development value arising from something that is beyond the government’s control – in this case, a Unesco heritage listing, with its attendant zoning requirements?
Boustead made the announcement in response to an article in The Edge. Continue reading »
