Monday, January 16, 2017

State lands sold by the Penang Government led by DAP

Over the years, Penang had enjoyed much of the rapid growth brought about by progress and development to become the second highest state generating income to Malaysia economic successes. 

Amidst the lifestyle of the contemporary, the majority of Penangites requires a place to call home and certainly the same is expected by job seekers and families from other states, captivated by the island’s calling and beauty. Some falter, and lives on rent spaces due to scarcity of affordable homes. 

Then, DAP came into power with fresh breath of promises. Or do they? Against the backdrop of zero affordable homes undertaken by state government, state lands began to change hands to cronies in the guise under economic investment that may create jobs by the state leaders/s. 
Listed are the lands involved in what the Penang government termed necessary to leap frog the state property investment and boosting state coffer and “the Penangites”: -

2010 - 1.1 acres of the people's housing programme (PPR) land at the Taman Manggis PPR, sold to KLIDC for RM11.5 million.

2011 - 102 acres of Bayan Mutiara land sale to Ivory Properties - RM1.07 billion -

2013 - 110 acres of land given to Gurney Drive Consortium Zenith BUCG for Undersea Tunnel Project - RM6.3 billion (not involving cash) -

2013 - 40 acres of land in Batu Kawan sold to PE Land - RM65.34 million -

2014 - 245 acres of land in Batu Kawan sold to Aspen Vision (49% owned by Ivory Properties) - RM484 million -

2014 - 30 acres of land in Batu Kawan sold to Paramount Group - RM67 million -

2014 - 470 acres of land in Batu Kawan sold to Eco World - RM1.02 billion. (The sale was canceled the following year because the land for the construction of a golf course is not wide enough. The land is currently re-tendered by the State).

2014 - 49% of the 198 acres of land in Batu Kawan and Bayan Lepas 6.67 acres of land sold to Temasek Holdings, the Singapore investment company -

2015 - 20 acres of land in Batu Kawan sold for RM30 million to Jabil Circuit Inc., through their Singapore based company -

2015 – 4,000 acres reclaimed land sold to Gamuda (60%) and local partners (40%) in Permatang Damar Laut - estimated worth RM27 billion.

2015 - 6.6 acres of land allocated to accommodate the Juru Workers complex to Centurion Group, Singapore, worth RM10, 893,225

2016 - The sale of 49 per cent shares of Tropical Island Resort Sdn Bhd (TIRSB) by Penang Development Corporation (PDC) at RM156 million to Ideal Property Development Sdn Bhd (Ideal) - 

With all the land deals made by DAP led state government, the Penang people are not overjoyed since, PDC has been approved loans by the state to acquire more land NOT affordable homes for the people.

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