The detailed environmental impact assessment process for Phase 2 of E&O’s Seri Tanjung Pinang project involving 760 acres of land to be reclaimed off Tanjung Tokong in Penang gets underway.
The lucrative project, “offering a mix of luxury residences and even more world-class leisure and commercial facilities” on a man-made island(s), is expected to have a gross development value of RM12bn.
The earlier Phase 1 involved 240 acres of reclaimed land on which high-end housing and condos, Straits Quay, and low-cost housing was built. Within this, a strip of land was surrendered to the state for the now aborted Penang Outer Ring Road project.
The firm had received “approval-in-principle” for Phase 2 amounting to 760 acres last year. In any case, an independent study will have to look into the impact of the reclamation on coastal tidal patterns and currents. A traffic impact assessment for the surrounding areas should also be carried out.
E&O had acquired the land reclamation rights for 980 acres from UEM for RM60m plus the takeover of outstanding loans (believed to be over RM100m).
[A bit confused here: 240 acres (Phase 1) plus 760 acres (Phase 2) adds up to 1000 acres.]
The Penang state government had originally awarded the reclamation rights in 1992. It would be interesting to find out how much the state received in return back then.
E&O is expected to hand over more than 100 acres of the reclaimed land to the state government for the tunnel project at Gurney Drive.
The developer had earlier indicated it would reclaim land along the Gurney Drive sea-front for a 60-acre linear public park, to be surrendered to the state.
E&O is holding a public dialogue, a requirement under the detailed EIA process, on 24 August 2013, during which details of Phase 2 will be provided. To register for the dialogue, visit this website (which is, however, presently inaccessible).
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Anil, do you know if the DEIA has been completed and if so, has DOE made it available to the public?
I haven’t heard about the completion.
“Boh Looi, Boh Tan Kong, Meng Ki Koon Bang” then “Ai Bing Chooi” (wanna have face) resulted in rise in criminal activities (snatch thieves, GROs, gambling dens etc) in cosmopolitan Penang ?
No wonder LGE now put security before clean and green penang tagline.
“Ooo Looi, Kia Si”. Global denizens in typical cosmopolitan cities of “Ho Khua, Boh Ho Tua” will soon build Great Wall of China perimeter fencings (this applies to Tiong Kok (China) millionaires), employ Gurkha security guards (paid for by North Indian millionaires), ‘Sepico’ private bodyguards (engaged by American or British millionaires) & boxing kangaroo (rent by Aussie millionaires) in Cosmopolitan Penang Island!
Cheers Kopi-O kau kau to ‘colorful’ security fever in ‘newly furbished’ Pulo Panang.
I am non Penangite but stay in Penang for past 5 years. KLites cannot underestimate traditional Penang lang’s simplicity. However now young locals have new dimensional views on latest lifestyles. I think i can interpret tunglang’s yearn for yesteryears bygone era : “Ho Khua, Boh Ho Tua” = Nice to look at But Not Nice to live “Ooo Looi, Kia Si” = Got money But Scared of Death My friend told me those days Boon Siew’s mansion has open gate but no need for security guards or sophiticated alarm system; and he can have morning Hutton Lane kopi-o kau kau… Read more »
tunglang
Have you ever dined at See Kong Ooi restaurant 西公園飯店 in Jalan Transfer, Penang?
http://food.malaysiamostwanted.com/venues/see-kong-ooi-restaurant-transfer-road
See Kong Ooi restaurant was featured in Astro AEC (Tasteful Life) recently about the feuding brothers (http://www.youtube.com/watch?v=EL_EgrWl9zA) and the uncertain fate (reported on 8TV yesterday) of the restaurant as developer will take over the old shop in Georgetown.
The impression is that the rich people (mostly from KL) are now taking over the old buildings in the Penang heritage zone for redevelopment (profit), thus affecting the livelihood of the poor citizens living and operating businesses there.
Not just from KL but Singapore as well.
It’s truly sad to see another Penang great food icon gone to the Cosmopolitan winds of change. How often we hear of family disputes once the ‘Lau Tow Tui Tung Sua’ which affect the old man’s family legacy be it a restaurant business or Chai Tiam Mah (kedai runcit). Oi Teok Keh Hoy Mah. The same for one famous Penang Chicken Rice family business which spilt into 2 competing entities. If only the poor brothers can unite & build up the heritage food business or get financial assistance, no ‘Dream Big’ can materialise beyond the front door into a world… Read more »
‘Ho Khua, Beh Kam Tua’ means nice to look at but not affordable to stay.
May i add on
‘Ho Khua, Tann Chiak Kee Huay” means nice to look at, opportunity for “cari makan” to earn livings. Many older folks at Sia Buoy heritage dont need to emigrate to Relau or Mainland. They can earn livings being housekeepers/gardeners for example for those KL/Spore refurbished mansions.
So at the end of dark darth vader tunnel, a Jedi can visualise “the light” to fight for survival !
Many of the SingLanders invading Penang properties are former Penangites themselves, who left the Pearl of Orient for the Red Dot for jobs decades ago. Now they are back to their homeland for retirement with good amount of Sing Dollars worth 2.5x Ringgit, as the ared Dot is too expensive to live in if you do not have active income.
The case of 2 brothers of ori-maestro’s original See Kong Ooi restaurant 西公園飯店 is worth study to see the survival of emerging trend in heritage food business in Penang. a) One brother sticks to traditional approach of past proven formula. No fancy makeover of shop. Focus on loyal customers who care for food not ambiance (eg cozy set-up). b) The other brother opted for business makeover to reach out to newer customers. Target newer breed of customers in line with modern kopi-tiam style. Time will tell which one succeed in cosmopolitan Penang. Brother a) however faces eviction as the shop… Read more »
It is a pity that Penangites do not support the traditional chu-char restaurants and now opt for the air cond comfort of Kim Gary. I heard See Kong Ooi has 77 years of history and Penang is losing such establishment due to the high rental brought by UNesco status.
EIA is just like RCI exercise. A Syiok sendiri exercise in bolehland.
goodness gracious me..for those dreaming big for a dream home…dream on and in your dreams, innit
For the average income people they could still have their dream home. Make it a simple dream home. Don`t think so big. There are still many around costing less than 100k.
You mean on the mainland?
go for bank auction sale. ~RM100k available but add some for bidding and renovation.
In an island of “No Money. No Talk, No Dream”, (Boh Looi, Boh Tan Kong, Meng Ki Koon Bang) we have these options: work like a slave rat (hold 3 jobs or more) tagged to a dream, change mindset from home ownership to renting cheap, live a fleeting Bing Chooi dream lifestyle now paid for by credit spending (loans from banks, finance, Ah Longs, relatives) & betting on your current employment (a life-long job?), or adopt a low cost living standard (living below your means) ie downshift your present lifestyle (which is a hard thing to do). Checkout simplicity living… Read more »
On the island there are many 2 room flats of 550 and some up to 700 sq ft costing about 70 – 80k especially in Farlim & Paya Terubong, Relau, Sg Ara, Gelugor, Bayan Lepas and town areas. Naturally these areas may not be so nice and a little bit congested and does not come with facilities. When you are poor, you look for something that you can afford. With a little bit of innovation and design you can made these home nice and cosy. Although congested, these home are usually near most basic amenities like market, school, bus stop,… Read more »
Malaysians’ favourite motivation guru Nick Vujicic (his book always on local best seller list) in his promotional clip on Astro:
“Dream Big & Never Give Up!”
http://www.youtube.com/watch?v=hg7qyecUARE
Don’t give up, price will come down once the property bubble burst!
Joe D
E&O got to surpass SP Setia in terms of glamorous event.
I think you meant soft launch booking. I hope Karen can notify us (thru Anil of course) in advance. Ong Eu Soon can be advisor if the soft launch price is truly “affordable” for us to chip in. Once we make tidy profit, I suggest we have tunglang as our ori-maestro party organiser arranging best Penang food for us to savour.
Game On !
You folks are really “dreaming big”, I see!
Anil
Recommend you to watch Tom Hanks’ 1988 movie called “Big”, where dream can becomes reality (some say miracle) 🙂
http://www.youtube.com/watch?v=lCmyX6CYhI0
For those who think house and land price will go down, read this Land plot near Petronas Towers sells for RM495m According to a source, the 1.38ha freehold land in Jalan Ampang, between a Chinese temple and the Wisma Central, was recently sold for about RM495.34 million or RM3,325 per sq ft, making it one of Kuala Lumpur’s most expensive properties. http://www.propertyguru.com.my/property-news/2013/8/10514/Land%20plot%20near%20Petronas%20Towers%20sells%20for%20RM495m?utm_source=pgmy-newsalert&utm_medium=edm&utm_campaign=dailynews-15Aug2013&utm_content=links Currently land prices in Penang Island is from RM400 – RM500 sq ft in prime areas (higher in certain areas) with the exception of rural areas like Balik Pulau, Relau, Sg Ara. In fact land price of these… Read more »
SP Setia with its tagline ‘Builder with Distinction’ is a hint that it distinctively build for the rich only.
Its showroom in JB is only open to those targeted customers, as you will be turned away by the security guards if you do not come with appointment.
SP Setia now semi-owned sPICE (formerly called PISA) with its logo on top of indoor stadium distinctly visible from far ?
Anyway, JKR or directly negotiated road work should emulate the workmanship shown by SP Setia in sPICE. At least general public can feel the difference walking around sPICE although we do not own sPICE.
Not sure if they shall follow JB showroom in having security guards of that nature. May be because the guardhouse of sPICE has grasses grown on it – go check out and demand same standard elsewhere in public amenities Penang.
Look at SP Setia corporate video here:
http://www.youtube.com/watch?v=_h9mhPXlhW4
No mention of affordable home?
Fear not, Penangites. Plenty of options for your dream home.
SP Setia Bhd still has 44ha on Penang island that it can use to develop some RM3bil worth of residential properties over the next five years, as reported on The Star today:
http://www.thestar.com.my/Business/Business-News/2013/08/16/SP-Setia-has-44ha-in-Penang-for-RM3bil-projects.aspx
Ah, but how much will these homes cost?
‘Dream Home’ means a home that you can dream about or one that you can only own in your dream.
That is what Setia, Mah Sing, IJM, Ivory, …. can offer to average Malaysians.
So sleep well and enjoy your dream home!
Okay, McMinion, thanks for the tip!
I have just understood the meaning of ‘Dream Big’ as taught by my school teacher more than 30 years ago. Now is the time to put into practice.
Anil,
How much will that cost?. In Sg Ara its RM550.00 per sq ft. That will be 700 sq ft @ 385k, 800sq ft @ 440k and 1400 sq ft @ 770k. And that is Sg Ara not town and urban area where land prices is cheaper by almost half. Try and guess for the town and suburban area. Penang urban areas currently is about 600+ per sq ft and still going up up up.
New properties at Iskandar Johor (eg. Medini) now RM750 psf, targeting Singaporeans and China nationals.
Johoreans who earn S$ in Singapore can afford, else can also dream big.
I only hope the 60 acre park promised will indeed materialise. I hope it will not be used to create the tunnel/roads. Penangites need a green lung in that high density area and we want to turn that muddy silted shore into a recreational space free for everyone. Singapore has such limited land and yet they are able to create a 250 acre Gardens by the Bay smack in highly valuable marina bay area. What is 60 acres? After all the profit they have made and will continue to make I’d ask for at least 100 acres.
Kevin
Many like you Do Hope although many ‘insiders’ say dream on.
The swarmy land formerly sea tidal waves (the stretch opposite Gurney Plaza) once land has settled will be up for tender for commercial buildings hence the long term plan to have undersea tunnel there to divert traffic. $imple as that.
That is what i think will happen too. But I hope this govt can prove me wrong.
Kevin
Although we believe Pakatan has done quite well (vs past boh hoot admin), we should stress to Pakatan the blue/red masterplan for Gurney “mangrove” (ex casuarina) land.
We should expect Penang Gomen to print the plan in black/white in Buletin Mutiara.
Can I get details on where the Public Dialogue will be held on the 24th of August?
Thanks a bunch!
Details can be found here:
http://www.stp2publicforum.com/
Wow, it is looking more and more like Singapore skyline and better! Hope they will be within average Penangites reach! Penang is a lovely island but only for visits and sightseeing. Otherwise give me endless stretch of greens fields and grassy hills and canopies with rivers and rivulets, but no dengue mosqis, as far as the eyes can see..
Too much like KayeL, for kampung bums like my family and me!.
Or may be something better than what Johore already become under AGO. We have yet to see how far KN will fare!
A lawyer against an economist!
I fail to understand why land reclamation projects continue when all the scientific evidence shows that anthropogenic climate change is resulting in rising sea levels ! We should be making plans to protect our society from climate change-induced threats instead (some of these are less likely to apply to Malaysia) : • Increase in the number of extreme weather events e.g. warmer ocean surface temperature result in more ferocious hurricanes, typhoons, etc. • Sea level rise (SLR) • More cases of temperature-related illnesses • Impact on air pollution patterns • Water security challenges • Food security challenges • More cases… Read more »
Kai-Lit Phua
You have 2 choices. One is go inward and clear the forest and chopped down more trees. The other is go outward and reclaim land. Either way there will be a public outcry. Without these 2 ways there will also be an outcry. No development and houses. Any which way the govt hand is tight. Maybe you could suggest a way out for LGE.
For climate change skeptics, check out the excellent
reporting on the environment on this website:
http://www.commondreams.org
Phua Kai Lit
We don’t seem to learn from Tsunami 2004. Living in the tropics is not immune to natural global climate-change events. Even the Ring of Fire (which we are so close to) is not dormant but relentlessly active, causing daily shift of opposing undersea tectonic plates & eventual nasty earthquakes. The roaring seas is not a director’s fantasy of Hollywood special effects but a grim visual warning for much worst disasters to unfold not only to New York but also serene elsewhere. Read the Bible which foretold in Revelation 6:12-14 I watched as he opened the sixth seal. There was a… Read more »
The soil of Penang Hill is being dumped to the sea to reclaim more land?
Next time Penangites have to go to Gunung Jerai as there is no more hill or mountain in the island.
so which hill land will become the site excavated to provide soil/earth for this reclamation project…maybe the new pair road project being planned will be the source
These residences must include those that the rapscallion Najib was promising the people before the GE, right ? Oh, these cannot be affordable housing he was talking about or he knows what will happening to him and Umno Bari and as such he is not worried about fulling his promises. My dear fellow Malaysians that was a typical example of the kind of promise the morons are making just before the GE empty and unachievable promises. Now you know why they are on the way out of Putrajaya and is saved by the first past passed the post system and… Read more »
Dear Mr Netto,
Thank you very much for highlighting that our microsite was down. I am pleased to inform you that we have since rectified the temporary glitch and the microsite is now up and running. We look forward to seeing you at the Public Dialogue on 24 August.
Regards,
Karen de Cruz
General Manager – Group Communications & Investor Relations
EASTERN & ORIENTAL BERHAD
Thanks for the update.
Hope Anil’s got strong teeth & not flip-flop mind, not fall for something ‘sweet’ from E&O!
HACKS sweet is still good for right thinking, Anil. Not so sweet but tampered with ‘pedas’ rasanya.
Haha, very funny. Make sure you attend the public dialogue on 24 August, ya.
Dear Ms Karen De Cruz
Good that you use anilnetto.com as platform your your publicity instead of skewed reporting The Star.
You never underestimate many readers of anilnetto.com who are capable of purchasing an E&O property (SP Setia affordable lifestyle condo is now min RM530 per square feet, not sure what’s your positioning?). Many ori-maestro readers have solid bank account although they like to grief about barang naik issues.
So keep inform us the readers of E&O projects as we the anil-invest consortium may opt for E&O instead of Bayan Mutiara so called The World project.
Oh, I didn’t realise you readers are so rich!
Not sure if Anil gets any commission from E&O.
Ms Karen should at least buy a kopi kau kau for Anil.
No commission 🙂
Hmmmm not bad idea.
With anil-karen recommendation probably a consortium can be set up to pool enough money to pay for the 1st instaliment booking fee for a decent E&O unit (pre launch).
Upon launch can sell off at a comfortable speculative margin so that we can have 1st ever anilnetto.com readers get-to-gather party. What say you readers ?
Luxury luxury luxury. What will happen to the middle income and poor.
No wonder undersea tunnel is needed otherwise expect more traffic woes with such high dense (if not richie-rich) Expanding & Opulence development !
Rakyat Penang no worry but to rejoice as state gomen can later heavily tax monaco-rich residents and pay for the welfare of the less privileged senior deprived folks………..
Anil, any chance you will accept a positive EIA report for the project to proceed?
Another housing project that makes many average Malaysians salivate in envy.