support@kopiandproperty.com

Previous
Next

Advertisement Banner

New Marina Park in Penang island on a 129,000 sf reclaimed land?

I read something exciting if it materialises in Penang. A new Marina Park in Penang island, along the Tanjung Bungah road on a piece of 1.2 hectares (129,000 sf) reclaimed land by the sea? According to an online article, the state government’s investment arm Penang Development Corporation may be developing a new marina park in 2015 on the site opposite a luxury condo project, the 1 Tanjong project. 1 Tanjong consists of 147 upscale residential units within 2 towers of 41-storeys. It is now at 79 percent and 90 percent completion for Tower A and B, respectively. The report also stated that the developer Province Valley has reclaimed the land illegally but that’s for the state government to deal with them. Oops.
Anyway, I think if reclaimed illegally, the developer would have to hand it over to the state government at no cost but if Marina Park is up, it would benefit them as well, right?  In fact it was said that some Tanjung Bungah residents have filed complaints as they lost the access to the sea and beach and this is being actioned upon. No further plans were announced with regards to the Marina Park but with the Marina Park, then the state would have another avenue for tourists as well as Penangites to enjoy themselves. Imagine a city with everything you want, the heritage, the food, the hill, the sea and in the near future, even a Marina Park for families to just enjoy themselves? Yes, that’s Penang. 🙂
My personal opinion is this. Whatever the plans may be, please award it to capable companies. It is no longer an acceptable thing to award it to a company and tell the world only for the said project to be abandoned after the company which said great things suddenly announced they were closing due to unforeseen circumstances. I have never believed in a strict tender policy because IF the lowest tender by far is from an unknown and newly set up company which has no such experience, do you still award them the project? If you do not, would they have the avenue to sue you? Find a good company, one with experience, negotiate and get a good deal and start it. If people were to criticise, let them be. Show them by opening a successful Marina Park in the near future.
written on 14 Nov 2014
Next suggested article: Man-Made Island for a new Penang International Airport

Property Investment always start with knowledge. Equip ourselves with more here.

Motion arrow towards right
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Motion arrow towards right
Share on facebook
Share on twitter
Share on linkedin
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

Previous
Next

Advertisement Banner

Facebook Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like