The coronavirus pandemic has given us some space to reflect on the so-called “Penang Transport Master Plan” – in reality, a developers’ plan to reclaim three islands in the name of providing extravagant transport infrastructure for Penang.
The idea was that the state government’s sale of reclaimed land would raise funds to finance the RM46bn transport infrastructure proposed by SRS Consortium. The consortium is 60% owned by construction giant Gamuda with two Penang-based developers controlling 20% each.
The 4,500-acre three-island project in Penang was supposed to house over 446,000 people, most of them in expensive homes. Many of them would probably be foreign buyers, likely from China.
Reality check: foreign buyers, themselves reeling from the pandemic and a severe recession in their own countries, are now unlikely to be coming to Malaysia soon. Full article on Aliran website