Penang-based activist Tan Seng Hai came up with this report:
I took a drive to Teluk Kumbar in the South-East District of Penang Island for seafood the other evening. I was last there about six months ago. What I saw of the scale of development and hill-cutting shocked me.
Highrises on hill-slopes all the way from Batu Maung up to Teluk Kumbar. Green hills being cut everywhere.
A highrise hotel (at least 30 storeys) behind the Good Friend seafood restaurant in Teluk Kumbar. Just metres from the shoreline.
A once peaceful serene town now gone.
I just threw up my hands in awe and hopelessness.
Those who haven’t been there, please take a drive there and see for yourselves. Enjoy the seafood since you are there.
(If you remember, Teluk Kumbar was hit by flash floods “for the first time” on 13 October 2013.)
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We already have petting zoos for children, where they get to touch goats, birds, etc. Some of these children think food including milk originates in markets. Maybe the next step is commercial parks (public-private initiative, whatever that means) where you pay to go near shrubs and trees.
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And the road … how could that narrow road support so many vehicles … and that row of old shops … what happens when they expand the road, they sure look as old as the heritage buildings in Georgetown?
The state planning committee (SPC) in the absence of Penang Local Plan is chaired by the Chief Minister. He should know in details why such development of such unbelievable scale and quantum is still allowed to go on despite concerns of flooding and natural calamities. It is as if Penang population has exploded beyond control and housing demand has surged to justify such insanity of development. In the 1970s, Penang housing market was more sane, realistic and demand led. Trusted developer like Island & Peninsular built quality houses according to market needs and spending power. Buying houses in Green Lane… Read more »
Empty homes Hungry ghosts during non-mid July festival season can find comfortable congregation at refurbished St.Jo at Paragon to discuss next outings.
understand next Sia Boay outings per agenda will be at New Wembley hotels when food offerings to appease the hunger ones.
There must be demand for such mixed development otherwise developers dare not venture in? I don’t think now the foreigners are buying up such properties. The locals should now refrain to him bin chui bandwagon. Let the bubbles burst like in Spain and Greece.
YOUNG ones when married stay under one roof with the parents to build piety bond and stop driving up condo prices booking condos now.
Problem is many went into property speculation to feed the buying frenzy for fear of further erosion of Ringgit value and further increase of property prices as claimed by the developers.
Many taukehs of property developers are somehow ‘rewarded’ with Datuk or Datuk Sri titles.
Are they encourage to build more?
The real estate and property boom (or bubble?) is not solely happening in Penang but all along the western and southern coast of the Peninsular Malaysia and even beyond (eg. Singapore, Hong Kong, China, UAE etc). And there have been many calls and condemnations of the Penang state government in this blog site for allowing or even allegedly working together with the developers in bringing about the current runaway development. But isn’t this akin to calling for the restriction of the supplies which would ultimately force a steeper climb in the price of properties? Wouldn’t the reduction of demand via… Read more »
What is fueling the demand?
Is property speculation is the quickest way to get rich?
I am a graduate but my salary cannot buy me a decent home in Penang.
But my friend who dropped out after SPM is now owning 2 condominiums (one in Gurney and one in Bayan Baru). He is using the rental yield to pay for the loan.
Choon Kee
Your friend may not be book smart but street smart?
However, when economy turns back he or she may have difficulty financing the loans. So in short term you may envy him or her but later you may feel relief not buying overpriced new homes.