The Penang Turf Club is to build 25 bungalows in a RM30 million project which it hopes will generate close to RM2 million annually in rental income.
The bungalows will be built on 5.6 acres of land on the fringe of the racecourse.
Presumably this is on the same land which the Koh administration scandalously rezoned from recreational land to new or mixed development land – which was eventually slated for Patrick Lim’s outrageous Penang Global City Centre project.
I just wonder what was stopping the Penang local government from re-zoning it back to recreational land use after the PGCC project failed to take off.
The Penang government sold the Batu Gantong site to the Turf Club for a small (token?) sum for recreational use by the people of Penang back in the early 20th century.
It seems strange to me that part of the land that was allotted to the Turf Club at a low price for public recreational purposes can now be converted to expensive bungalows for the rich. What about the quota for low-cost housing?
The other question is, why is the Penang Turf Club going into property development? Is horse-racing now a fading activity? Will the Club one day convert the whole area into high-end property development?