Abandoned wet market project to be revived, says Penang CM

GEORGE TOWN: The Penang government announced the revival of an abandoned wet market project in Paya Terubong here, at a cost of RM7million.
Chief Minister Lim Guan Eng (pix) said Patsifit Construction Sdn Bhd has agreed to be the white knight for the project which had initially started in 1987.

Among details contained in the agreement with state government, he said including the construction of a housing block containing 205 affordable housing units at RM280,000 each equipped with a carpark per unit.

Lim said the other components of the revived project comprised two blocks of two-storey shop houses with 60 units and a four-storey market complex.

He said the agreement between the company and the state was signed on Sept 7, 2015 with development charges and premiums being reduced to ease the developer's burden.
He added work on the market will begin after the developer obtain the Commencement of Work (CoW) approval from the Penang Island City Council on April 12.

"The completed market building will be handed over to the Council with a RM1 nominal payment," he said in his speech during the ground breaking ceremony, today.

The original 1987 project comprised 1,570 low-cost (LC) housing units, 1,420 low-medium cost (LMC) housing units, a three-storey trading complex and a community and sports complex.

While the LC and most of the LMC units have since been built and occupied, 224 LMC units could not be built due to the risk of steep slopes in the area.