CJMY
Penang Chief Minister Chow Kon Yeow announced plans to introduce commercial activities at Gurney Bay during the state legislative assembly.
The Malay Mail reported that the proposed attractions include the Eye of Penang, viewing tower, floating ferry, ferris wheel, and theme parks.
Managed through a People, Public, Private Partnership (PPPP) model, the initiative aims to enhance Gurney Bay’s recreational offerings, aligning with the Penang2030 vision.
Comprehensive vision for the Gurney Bay
Chow outlined the comprehensive vision for the Gurney Bay project, highlighting its role in providing green recreational space. The project comprises two water bodies, labelled A (6.95 acres) and B (7.91 acres).
The implementation of additional commercial activities follows the PPPP model, ensuring a collaborative approach involving the public and private sectors.
An open tender or request for proposal process is envisaged for the project’s execution. Reclamation work for water body B is underway, set for completion in the second quarter of 2024. Water body A’s reclamation is scheduled to commence in early 2024, with an estimated duration of 18 months.
The comprehensive plan includes 800 car park lots, 238 motorcycle lots, and 12 lots for buses at Gurney Bay.
Environmental sustainability goals
To align with environmental sustainability goals, Gurney Bay will introduce water taxi services, aiming to reduce the carbon footprint. Both water bodies are designated as land banks, contributing to revenue generation through the project.
The pricing of land banks will be based on current market rates, with estimates placing the land value in the Gurney Drive area between RM900 and RM1,300 per sq m.
Chow emphasised that the land banks’ primary purpose is to cover the state’s investment in project development. The expected revenue from these land banks, estimated at RM800 million based on current market prices, underscores the financial viability and potential economic benefits of the Gurney Bay project.
The Gurney Bay project stands as a transformative endeavour for Penang, envisioned to provide diverse recreational experiences and boost economic prospects. As reclamation progresses and the project unfolds, Gurney Bay is poised to become a hub for leisure and innovation, showcasing the state’s dedication to enhancing community spaces.
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