Penang Major Infrastructure Improvement

While in the Queensbay mall,i managed to attend a talk organize by the ZEON.
The title is Penang major infrastructure improvement. How these improved infrastructure can boost the property price in Penang.

So far the major infrastructure improvement are:

-Penang International Airport
 Phase 1 - Upgrade and expansion existing passenger terminal
 Phase 2- Business class hotel
 Increase terminal capcity from 3.5 MPPA to 5.0 MPPA

-completion of Penang second Bridge
-Electrified double tracking Project
-Expansion of North Butterwoth container Terminal
-Fiber route network

Penang international airport has a huge connectivity internationally as well as domestic.
Penang International airport recorded 15% growth in 2013 from 4.8 il i 2012 to 5.5 mil passengers in 2013.

Penang second bridge "The Sultan Abdul Halim Mu'adzam Shah Bridge" is longest bridge in South East Asia which has 24km long. The bridge is open in Q1 2014. With the opening of the 2nd bridge, both side of the island and mainland has better connectivity. The direct impact is the both side of the property's price has escalated significantly.

 Let's take a look on the island. A terrace house at Southbay residence is $795K in 2008.
In 2013, the price has increased to $1.45 mil. It has increased 82% in 5 years!

 How about in mainland? At Batu Kawan which is the first township after coming out from the bridge, the price also escalated from $180K to $430K in 6 years.
The growth is 139%. It seem that there is huge room to grow in the mainland.

 Penang undersea tunner and major road projects are undergoing in the pipeline.

 Penang undersea tunner and major road projects proposed timeline

 Singapore is mirroring Hong Kong and Penang is mirroring Singapore.Property price in Hong Kong is enormously high.
In term of the total area, Penang and Hong Kong are comparable. Singapore is the smallest.
Singapore also reaching the same high standard now. Penang will be the next one.

 Population growth rate in Hong Kong, Singapore and Penang.

Hong Kong	Singapore	Penang
5752000	3135100	1064200
7187500	5399000	1647700
1435500	2263900	583500
25.0%	72.2%	54.8%