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 - http://bit.ly/1wR7nf2

2013 - 110 acres of land given to Gurney Drive Consortium Zenith BUCG for Undersea Tunnel Project - RM6.3 billion (not involving cash) - http://bit.ly/1BWADRA

2013 - 40 acres of land in Batu Kawan sold to PE Land - RM65.34 million - http://tinyurl.com/l4ywb5g

2014 - 245 acres of land in Batu Kawan sold to Aspen Vision (49% owned by Ivory Properties) - RM484 million - http://bit.ly/1p5zEqd

2014 - 30 acres of land in Batu Kawan sold to Paramount Group - RM67 million - http://bit.ly/1wznATj

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 - http://tinyurl.com/kdhs6uk

2015 - 20 acres of land in Batu Kawan sold for RM30 million to Jabil Circuit Inc., through their Singapore based company - http://www.thesundaily.my/news/1418320

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) - http://www.malaysiakini.com/news/362511 

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.

Land worth RM1.74 billion sold since 2008

A Chinese newspapers recently reported Chief Minister of Penang, Lim Guan Eng had formally answered in the recent Penang State Assembly that the state owned agency Penang Development Corporation (PDC) had sold land worth RM1.74 billion since the year 2008. 

The amount does not include the value of the land sold to EcoWorld to develop a golf resort worth RM700 million, was later canceled due to the fact the land is not large enough for a golf course. 

It does not include the sales of RM160 million shares in PDC 45 percent shares in Pulau Jerejak project to one of Lim’s crony company. The amount does not include the joint venture with Singapore’s Temasek companies where PDC had given state land worth at least RM1 billion. The list goes on not to mention the much debated more than RM6.34 billion land worth for the Penang’s dubious undersea tunnel project. 

Amazingly to all the island’s land transactions, in his usual composure, Lim has denied the report and reported through the DAP’s website, PDC had only attained RM147 million from the sale, resulting the state to loan more than RM600 million to PDC to acquire more land on the mainland for “development”.