THE RM5bil Tanjung Pinang Development project, off the Tanjung Tokong coast 5km northwest of George Town, was re-launched by Prime Minister Datuk Seri Dr Mahathir Mohamad last Saturday after being stalled for 6 years due to the economic downturn.
The mixed development project, to be carried out in 3 phases spanning 10 to 12 years, would involve the reclamation of 397ha off Tanjung Tokong. It is planned as a new integrated suburban centre combining commercial and residential precincts with facilities such as schools and parks to give it a sense of place.
The project is undertaken by Tanjung Pinang Development Sdn Bhd (TPD), which is 70%-owned by United Engineers (M) Bhd, Yayasan Bumiputra Pulau Pinang and Magma Bhd and 30%-owned by Koperasi Gabungan Negeri (KGN) and Penang Development Corp (PDC).
TPD director Datuk Dr Nik Mohd Kamel Nik Hassan said the project was timely as market survey showed that the development of landed properties was still attractive to local and foreign investors.
The architecture of Tanjung Pinang has been carefully crafted to reflect the rich history and diverse ethnic and religious background of Penang.
To make this area more competitive, we will include amenities such as recreational and marina facilities, a school and commercial units to provide an ideal setting for an estimated future population of about 40,000 people, he said.
Dr Nik Mohd Kamel said the project would be carried out in 3 phases incorporating a headland reclamation under Phase I.
Phase 1, which began in May 2000, involves the reclamation of a 96ha site. About 40ha of the reclaimed area would be set aside for infrastructure to provide for roads, drainage and an open space while the other 56ha will see mixed development such as housing, a commercial area, hotels and 2 marinas.
The multi-island and headland concept was chosen for the project to reduce land-locked areas, thus increasing the land value, to turn the waterfront into a more dominant urban form and to ensure the Gurney Drive promenade remains intact in years to come, he added.
Phase I will include the construction of 1,279 condominiums, 135 bungalow lots, 264 semi-detached houses, 1,300 low-medium cost houses and 355 terrace houses. The development will also include open spaces, mosques, schools and commercial space.
Nik Mohd Kamel said to realise the companys objective of making the area a premier and unique landmark, various facilities would be added under Phase II and III, which will encompass 296ha of reclaimed land.
The project complements the RM1.02bil Penang Outer Ring Road (PORR) project, which stretches 21km from the coastal road/Jalan Udini to Bagan Jermal roundabout, the Tanjung Pinang Development reclamation site and ending in Leith Street in Upper Penang Road.
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