Jelutong dumpsite to be redeveloped; land worth ‘at least RM500psf’

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The PDC is inviting ‘requests for proposals’ for the “safe rehabilitation, development of the Jelutong dumpsite and propose new disposal site for construction and demolition waste and marine clay”.

The RFP opened on 12 March and ends on 14 September.

The dumpsite measures 53 acres. It is not clear if the plans will involve any land reclamation on either side of the dumpsite: one earlier Edge report on 28 January had suggested that 20 acres could be reclaimed on either side. So we need to keep an eye on that.

Chow Kon Yeow was reported as saying that the present price of Jelutong land is estimated to be at least RM500psf – which could mean RM1.2bn revenue for the state.  Apparently the land next to dumpsite (for luxury condos) is going for RM1000psf.

Only three years ago, the state government sold the 102-acre Bayan Mutiara super-prime land, a few kilometres south, for RM240psf. (This resulted in a controversy with Umno over the pricing. Umno had suggested that the land was worth RM420psf. The state government refuted that by challenging Umno to buy the land at that price.)

Whatever the case, I didn’t think at the time that selling the entire Bayan Mutiara tract to a single developer (which then entered into a joint-venture with another developer) was a wise move – especially at a time of rising land prices. Instead, PDC should have been allowed to manage the development like it had done in the past with new townships such as Seberang Jaya and Bayan Baru.

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atila

Anil, its right opposite JSTP. Jelutong Sewerage Treatment Plant. All the “aromatic mau pengsan smell” when at times bacteria level is inconsistent.

YK Leong

It is astonishing to read that the PDC is asking for proposals for the development of the 53 acres of the Jelutong dump site. It was also reported that an EXCO of the Penang State Government saying that the value of the land would be about 500 ringgit per square foot as land next to it had been transacted at 1000 ringgit psf . Presumably , the development of the dump site would be for residential and commercial development to command that kind of price. PDC and the State EXCO seemed to be very poorly advised by their experts. This… Read more »

Michael

I just wonder what sort of toxic mix is currently seeping into the sea from this dumpsite…fish for dinner anyone?

tunglang

What a great way of psychological pricing of Penang land via dumpsite valuation.
A dumpsite blamed on Penangites for excessive garbage, plastic bags, condoms, you name it.
Now worthless spaces can be extra-valued for a CAT-justified reason – the need for spaces for developers’ playground frenzies, like it or not.
What a great twist to the pretext for more landfills & land reclamation without decency of justification of Local Plan.

Now what color do you see in a Jelutong dumpsite CAT? Or are you still colour-blind for its 2nd term?

Yang

Bit by bit they botak botak hill. Bit by bit they extended over the sea if you notice the brown patches. Yes no more colour blind shall we be !!

chang

Anil, is there an existing article on Bayan Baru or Seberang Perai’s township development? Like to understand more about it. Thanks.

Danny

Penang to be a mini Singapore run professionally with world’s recognised Singapore brand of administration of efficiency, effectiveness, and no tolerance for under table dealings ???

JJR

The 102-acre Bayan Mutiara land, acquired for RM240psf is really a song !!!
A few foreign companies are now very interested in the lands around that area, they are willing to pay at least 3 times of that price !

Yang

Why should it not be Singaporean when their exchange rate is so high. It take less than half for what it take to invest here. Almost every heritage buildings that have been renovated, whole stretch of row have been brought by them. Soon many of the heritage areas will be owned by Singaporean.

tunglang

Almost every heritage buildings that have been renovated, whole stretch of row have been brought by them. Soon many of the heritage areas will be owned by Singaporeans.
This shows one thing of CAT:
It loves money from Singaporeans. Hong Kees, Or-sies, Thais, etc.
With downward devaluation of the Ringgit, it will soon love more richie foreigners.

Penang langs have no place in this frenzied socio-economic-cement-associated-transformation….

ajith v

Why blame Singaporeans when Penangites are willing to sell out? Those Penangites who can afford the way expensive Penang homes are indebted to Singapore for their tertiary education there, good paying job there, and also the high SingDollar! We shall see more Penangites returning from Singapore upon their retirement. They are surely rich with cash from their HDB sale and CPF. I have the first tendency to envy them for staying put in Penang because of the promises from Gerakan government then. Anyway I am encouraging my sons to study and work in Singapore when meritocracy thrives and no fear… Read more »

calvinsankaran

Yet another mega-development project. Take note that the company Perennial Penang Pte Ltd is from Singapore. ——————————————————————————————————————————– SINGAPORE: Perennial Real Estate Holdings Limited (PREH) announced on Tuesday (Apr 21) that it has entered into a joint venture to acquire a freehold waterfront site in Penang, Malaysia to be developed into a large-scale integrated mixed-use development. The 50-50 joint venture between the group’s Singapore-incorporated subsidiary Perennial Penang Pte Ltd and IJM Land Berhad will turn the site into what it describes as “Penang’s first mega integrated waterfront icon” with “retail, entertainment, recreational, residential, business, hospitality and Meetings, Incentives, Conventions and Exhibitions… Read more »

gk ong

Good to the involvement of Singapore firm for joint development to leverage the best practices.

calvinsankaran

Leverage on what best practices ? Develop high cost pigeon-hole public housing? Or over-priced condos? There is nothing Malaysian developers can learn from their Singaporean counterparts.

ajith v

Calvinsankaran clearly shows his ignorance due to poor education and inability to see the reality.

calvinsankaran

Ajith,

Wonder what you would consider high education to call someone with PhD and MBA as poor educated….. And BTW I lived in Singapore for longer than the CAT regime being in power. So I guess I am qualified to provide my feedback on Singaporean property developers. Perhaps you could enlighten us your own credentials to support your statement.

owc

SINGAPORE is among the top 25 countries in the world ranked according to happiness, says a report by the Sustainable Development Solutions Network (SDSN), a United Nations initiative. The World Happiness Report 2015 put Singapore at 24th place for the 2012-14 period. New Zealand is at ninth place and Australia, 10th. Switzerland topped the world, followed by Iceland and Denmark. The report aims to use happiness measurements to guide policymaking. The happiness ranking is made up of factors like gross domestic product per capita, social support, life expectancy, freedom to make life choices, generosity, perceptions of corruption, and a benchmark… Read more »

reign

The RM10 billion mixed development project of Eco Marina, in Bandar Cassia in Batu Kawan is a next investment haven for Penangites?

http://www.nst.com.my/node/81226