Reports have surfaced that the Penang Turf Club has called for bids to buy or develop 23ha of its 104ha plot of land.
The Edge reported that E & O Bhd said it had submitted a bid. The NST said speculation has it the call had attracted proposals from major developers such as E & O, SP Setia Bhd, IJM Land Bhd and Mah Sing Group Bhd.
Last October, another report said the Turf Club was going ahead with a RM30 million project to build 25 bungalows which it hoped would generate close to RM2 million annually in rental income. The bungalows were to be built on 5.6 acres of land on the fringe of the racecourse close to Jesselton.
The latest news about the 23ha suggests that the Turf Club is increasing looking at property development. Over the years, horse-racing has been losing its appeal as a spectator sport. More young adults have been drawn to Premier League football; so it wasn’t surprising when Berjaya tried to capitalise on that by trying to kick off sports betting.




