Property boom is expected in Seberang Perai and surrounding areas with the starting of the Sultan Abdul Halim Mu’adzam Shah Bridge. PERAI: Batu Kawan and Simpang Ampat will be major areas of growth in mainland Seberang Perai this year, predicts international property asset expert Henry Butcher Malaysia (HBM). “Batu Kawan in particular would become a major township, comprising residential, commercial and commercial areas,” said HMB (Seberang Perai) associate director Fook Tone Huat at a press meeting here today.
He said the entire property market outlook in mainland Seberang Perai was expected to be bullish in the next half of the entire year, largely because of the Penang second bridge – the Sultan Abdul Halim Mu’adzam Shah Bridge. Other areas of development will be Alma in Bukit Jalan and Mertajam Baru, the RMAF bottom in Teluk Air Tawar and, Changkat and Byram plantations.
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“Once Batu Kawan becomes congested, developers and investors can look at turning Byram and Changkat plantations into development areas,” Fook said. “The new bridge will appeal to investors and buyers to relocate to the mainland, in Batu Kawan especially, which is directly linked to the island’s Batu Maung via the 24km Penang second bridge,” he added. Built at a cost of RM4.5 billion by the government, the raised mega sea highway is the longest bridge in Southeast Asia and third longest in the world.
Fook said that initial volumes of property buying in Batu Kawan would however be moderate due to cooling measures and stringent funding policies imposed by Bank or investment company Negara to regulate speculation. He however needs property prices to stay high due to the escalating development and land costs. “The second bridge shall also cushion the effects of the cooling measures and spur future growth,” said Fook.
Moreover, he said commercial land value in Batu Kawan would be cheaper between RM30 and RM35psf compared with RM80 and RM100psf across the Penang channel in Bayan Lepas and Batu Maung. He said the low land cost in Seberang Perai would catch the attention of more traders to Batu Kawan. He uncovered that Penang’s major investments last year took place in Batu Kawan and surrounding places such as by Hoemonetics Corp, Magneti Marelli, Ibiden, Penang Designer Village, Universty of Hull and GEMS International School. Fook also predicted property market speculation would surge because of the access of major investors and big property industry players from the Klang Valley browsing for land in Seberang Perai Selatan.
Currently the mainland’s commercial area operates from Mak Mandin in north Seberang Perai and cuts through Batu Kawan to Nibong Tebal south Seberang Perai is the longest commercial belt in the country. The HBM statement uncovered that Penang island and Kuala Lumpur central areas remain as the most expensive property market in the united states, way above Seberang Perai.