George town: The proposed Weld Quay Waterfront Development must comply with heritage guidelines in the buffer zone of the George Town UNESCO World Heritage Site, while also adhering to George Town's city-wide 18-metre height limit. Chief Minister Chow Kon Yeow emphasized the importance of balancing development needs with heritage preservation during an engagement session on the project.
According to BERNAMA News Agency, the 5.36-hectare site, although outside the core heritage zone, remains subject to regulations set by state and national heritage authorities. Chow highlighted that developers must creatively and innovatively deliver a project that fits the heritage setting while adhering to guidelines. He noted all developments in George Town are capped at 18 metres, requiring careful planning by developers.
Chow, also chairman of Penang Development Corporation (PDC), described the ongoing request for proposal (RFP) exercise as a strategic initiative to catalyse waterfront revitalisation. He stressed that growth must respect history, given the site's proximity to clan jetties and other historical landmarks, necessitating context-sensitive planning and design.
The site, strategically located along the seafront facing the mainland, is connected to the Tun Dr Lim Chong Eu Expressway and provides access to the city centre and the Penang Bridge. Connectivity is expected to improve with a future Light Rail Transit (LRT) station at Macallum, linking the area to Penang Sentral. The project is anticipated to take five years to complete.
The mixed development aims to deliver sustainable outcomes, including a structured housing scheme to raise living standards while optimising land value through responsible redevelopment. The proposed site spans approximately 13.25 acres in Section 23, Northeast District, with about 12.05 acres vested in the State Authority and the remaining 1.2 acres under PDC.
Chow mentioned that the site currently houses about 200 village homes occupied by families for more than three generations. The resettlement of Weld Quay and Cecil Residency squatters has been completed, with affected residents relocated to the newly built Cecil Residency nearby. Developers will need to reimburse PDC for the resettlement costs.
The state, through PDC, has set a reserve price for the land as a baseline valuation, urging tenderers to submit competitive bids and additional guaranteed contributions to enhance the project's value. Four sets of tender documents, priced at RM5,000 each, have been sold, with the submission deadline set for March 26. The tender is open to local and international companies or consortiums.