This is about the future of the property market of Penang. Good connectivity, especially an efficient public transport will be a catalyst for economic growth which will eventually drive demand for properties. There’s no need to be surprised. LRT stations have always been a catalyst to developments surrounding it and well, property prices too. Penang wanted to have its own LRT under the Penang Transport Master Plan. Remember the ‘debate’ about the debate between LRT vs Tram? Here’s that earlier article: LRT vs Tram. Let the best option win for Penangites. We may have a conclusion very soon. Transport Minister Anthony Loke said that Penang’s proposal to have a light rail transit (LRT), a component of the RM46bil Penang Transport Master Plan, may not happen. Here’s that article in TheStar.
His reasoning is that the LRT might not be the best mode of transport. There are also other available options. He said, “While the federal government fully supports the state’s proposal, there should be options for the state to choose from. Our studies by the Land Public Transport Commission (SPAD) show that there could be better models which the state could look into. There was no debate during his announcement though. Chief Minister Chow Kon Yeow says that the state was open to options of trams or LRT, bus rapid transport or mass rapid transit. He said, “Since the minister will send SPAD officers to meet us, we will look into the options as the studies were conducted in 2016 and have just been completed. The most important aspect would be securing the financing for the project.” Here’s the article for reference.
It’s not back to square onelah. I think this announcement by Loke shows that the federal and state governments are really speaking to one another and with this latest announcement, I think the go-ahead for the most effective and efficient mode of transport for Penang will be announced soon, with the financing option part too because this was the part that Chow wanted from the beginning. My question will always be the same, what will be the policies that will accompany this new mode of transport. Remember, people will always favour convenience; driving over any other options which are only slightly cheaper for example. The only reason why the public transport in HongKong and Singapore worked was due to policies by the government. For example, EXPENSIVE car park rates or EXPENSIVE car, toll and other limitations. Happy waiting.
written on 7 Sept 2018
Next suggested article: Penang Property Convention 2018. Come join.
Leave a Reply