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With RM1 billion, PTMP will be carried out much faster

Posted in Property Penang

Penang Transport Master Plan (PTMP) is important to the future growth of Penang. Let’s not debate on how much benefits it could being versus the cost. Just like the HSR KL – SG, everything is now muddled. The question everyone should just understand is whether there’s a long term benefit. If it is a yes, then the cost is actually an investment. Simple decision.PTMP definitely would have a long term benefit too.  Earlier article here: PTMP is needed for Penang This is the reason why the faster it is implemented, the faster Penangites could enjoy the benefits. Perhaps even the property market could be rejuvenated too. (Currently, it’s a little quiet. Of course, there’s IKEA opening in 12 months but this is not a huge catalyst for Penang. Perhaps more for Batu Kawan. Earlier article here:IKEA Penang opening in 9 months’ time. New catalyst?

Penang Chief Minister Chow Kon Yeow said that the state government will be be requesting for a RM1 billion soft loan from the Federal government to carry out both the Bayan Lepas Light Rail Transit (LRT) and the 19.5km Pan-Island Link I (PIL I) from Gurney Drive to the airport simultaneously. Earlier report on the PIL 1 here. An article in TheStar is available here.  He said, “If we carry out both at the same time, it will take us about five or six years. Otherwise, it will take 12 years to complete the two projects as we have to do one after the other. With the loan, we can also hold on to selling land to the project delivery partner. The longer we keep, the land value will also increase.” (The last sentence makes quite a lot of sense. Perhaps good to also quantify the potential as well. Then, I am very sure it’s a much stronger request too) 

The PIL 1’s Detailed Environmental Impact Assessment can now be viewed at 10 locations in Putrajaya, Kuala Lumpur and Penang until Aug 10. However, Chow said that it was too early to discuss the matter as they must first secure approval from the authorities to carry out the project. These approvals he hope to get them by end of the year. In terms of PIL 1’s effects on Penang City Park, Chow said the visual impact on the recreational area would be minimised. This is because the contractors would be building a cable bridge with two pillars near the area. (I hope that besides PIL, that issue of Penang International Airport (PIA) expansion also be handled on a priority basis too. In fact, if you ask me, I would rate PIA as a much bigger catalyst compared to PIL 1.  One enhances the internal,the other pulls in more potential investments from elsewhere. Happy following.)  

*Featured Image source: http://www.penangheritagecity.com/heritage-buildings-penang.html

written on 29 July 2018

Next suggested article: Buying is Yes. Following guidelines a MUST. Penang’s Unesco City.

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