Another property developer to be allowed land reclamation rights.
Looks as if almost the entire stretch of super-prime land on the east coast, from the ferry to the airport, is being or has already been sold to private developers.
This time, the state government is in negotiations with Boustead to allow the firm to carry out land reclamation on a stretch south of Bayan Mutiara, supposedly as “compensation” for scaling down the height of its Boustead Hotel from 12 floors to five. Never mind that the lowered height was a requirement for world heritage status by Unesco. Will the people of Penang end up the losers again? How much prime land is the state going to hand over this time and at what price? Who agreed to this “compensation” without a legal challenge in the first place? In the spirit of CAT, please show us the calculations for this “compensation”.
How will this affect traffic on the coastal highway? Who pays for road infrastructure needed (as we don’t have decent public transport) to cater for the higher traffic volume caused by all this land reclamation? The public?
When are we going to have a coastal hydrological study by independent and internationally recognised experts to assess the impact of all this reclamation on siltation in the channel? Periodic dredging to deepen the channel costs hundreds of millions of ringgit – at public expense. Private developers, on the other hand, reap huge profits from high-end property development on reclaimed land along the coast.
This report from The Edge:
Guan Eng confirms Boustead’s land reclamation deal
GEORGE TOWN: Chief Minister Lim Guan Eng confirmed reports by The Edge Financial Daily that Boustead Holdings Bhd would be allowed to reclaim land as part of a compensation for having to scale down its Royal Bintang Hotel project from 12 floors to five.
The reclamation is part of the compensation for Boustead due to the hotel project having to be scaled down in accordance to Unesco requirements for naming George Town as a World Heritage Site.
“We are already at the advanced stages of negotiations (with Boustead) and we will announce the details of the solution and compensation at an appropriate time and venue,” said Lim when asked during a press conference.
The Edge Financial Daily had reported yesterday that Boustead would be allowed to reclaim an area along the coast, south of the Penang Bridge “very much less” than 100 acres between the existing Penang Bridge and the Penang Second Crossing (P2X) in Batu Maung. The reclamation will be carried out south of Bayan Mutiara which the state government recently tendered out to be developed.
It is learnt that Boustead is planning to develop the reclaimed area into an integrated township with upscale housing and commercial components.