GEORGE TOWN, Feb 3 — The first phase of the RM221 million Gurney Bay project is set to open to the public soon, almost two years after its groundbreaking ceremony in mid-2022.
Phase One consists of wide landscaped recreational spaces, a playground and a viewing deck, among other components, and is almost complete.
Malay Mail visited the site recently and observed that many components of Phase One have been completed, but the area is still cordoned off with “Keep Out” signs along the various entry points.
Malay Mail understands that Penang Chief Minister Chow Kon Yeow is expected to visit the site this Sunday to check on the project.
Plans for the Gurney Bay project, formerly known as Gurney Wharf, started back in 2016 but it was delayed during the pandemic.
The project covers 50 acres out of a total of 131 acres of reclaimed land off Gurney Drive.
During the groundbreaking ceremony for the Gurney Bay project in May 2022, Chow said the whole project, consisting of two phases, is expected to be completed by 2025.
He said Phase One will be completed and opened to the public first.
Phase two of the project consisted of more built structures such as a hawker centre, a multistorey car park and a jetty for water taxis.
During the state legislative assembly in November last year, Chow said the state government is also mulling proposals to introduce additional commercial activities in Gurney Bay such as the Eye of Penang, Viewing Tower, floating ferry, Ferris wheel and theme parks.
The Gurney Bay project comprises two water bodies that are given the labels A, which is 6.95 acres (302,742.00 sq m); and B, which is 7.91 acres (44,559.00 sq m).
Chow said reclamation work for B is in progress and is expected to be completed in the second quarter of 2024.
Reclamation works for water body A are scheduled to start early this year and will take 18 months.
He said there will be 800 car park lots in Gurney Bay with 238 motorcycle lots and 12 lots for buses while water taxis will also be introduced.
He said both water bodies will be used as land banks as a way to generate revenue through the Gurney Bay project.
The land banks will be priced based on current market prices, the land value in the Gurney Drive area is estimated to be between RM900 per sq m for lands facing Gurney Drive near existing buildings and RM1,300 per sq m for land facing the coastal area, according to Chow.
He said the land banks are mainly to cover the funds the state had invested in developing the project.
“The estimated revenue the state can generate from these two land banks is valued at RM800 million based on current market prices,” he said.
He said the land value will only be finalised after the reclamation work is completed and a detailed survey is conducted at the end of 2024.
