The Official Lauching of THE PARK @ MAK MANDIN by Silver Channel Sdn Bhd

Speech by Chief Minister of Penang

At The Official Lauching of THE PARK @ MAK MANDIN by Silver Channel Sdn Bhd

on 7th October 2017

Welcome to the Official Launching of The Park at Mak Mandin. I am proud to launch the First Affordable Housing Scheme Project in Seberang Perai, Penang initiated via a Privatization Agreement between State Secretary Incorporated (SSI) and Silver Channel Sdn. Bhd.

We would like to commend Silver Channel Sdn Bhd for supporting the State Government’s vision of making properties affordable to our fellow Penangites. The Park has achieved a strong sales of 50%, proving once again that the state government delivers its promises.

The Park is located along Jalan Mak Mandin, and a short stroll away to Jalan Raja Uda, the famous Apollo Market and cafes and restaurants.

Spread over approximately 10 acres of land, four blocks of apartments will be constructed, A, B, C and D with a total of 780 units. With condo density, Block A, B and C has 208 units each and Block D with only 156 units. The unit sizes are spacious at 1,002 sq feet across the board, with a comfortable 3 bedroom configuration. Features of The Park will include fibre optic internet, gated and guarded. Facilities will include children playground, landscape, community area, management office and a half Olympic size pool.

The units at the Park are selling from RM247,000, thus RM247 per square foot. This is a steal comparing to the surrounding market price. The Gross Development Value of this project is RM 193,286,000.00 and is expected to be fully completed by early 2020.

The Penang State Government prioritizes the supply of various types of affordable housing for the people of Penang: where the Penang State Government owns 17 projects that will supply 27,230 units of various affordable housing in the five districts of Penang, whereby the price is within RM42,000 (867 units); RM72,500 (9,283 units) and RM150,000 to RM300,000 (17,080 units).

Besides that, since the introduction of 100% Affordable Housing Guidelines for the private sector, I am pleased to say that 36,759 units have been approved for private sector development in the State of Penang. This excludes Type A and B Affordable Low Cost (Low Cost and Medium Low) built since we took over the Penang State Government of 21,535 units.

For information, the 21,535 units are 4 times the total of 5,154 units that were built in the same 7 years before we take over the administration of the Penang State Government. This clearly shows that the Pakatan Harapan Government has shown a performance achievement in terms of the provision of affordable housing, far better than the previous Barisan Nasional Government.

Finally, if you are a registered voter in Penang and first home buyer, we urge that you do not miss this golden opportunity to own your dream home at the prime location of Mainland Penang. This is one project not to be missed.

Once again, Congratulations to Silver Channel Sdn Bhd on your successful official launching at The Park.

Thank you.