Team People VOTED TO SELL LAND
At the first special public meeting last month, club members had voted to offer its territory in Batu Gantung in a movement that was supported by 146 users, with only three people opposing.
The membership then launched an empty tender to buy the perfect land. But the practice, which closed in December last month, did not draw any proposals that certified.
The team has been looking for alternative methods to understand the land’s price, estimated at RM6 billion ( US$ 1. 4 billion ), for business use, according to Free Malaysia Now.
Its second option is likely to break the area into smaller parcels for individual purchase, a move that could get a bigger pool of potential buyers, The Star reported.
The Penang Turf Club has occupied the Batu Gantung page, next to the premium Taman Jesselton Heights, since 1939.
It moved from its first culture course on Macalister Road, even in George Town, which originated from a complimentary area offer. Its primary houses on Macalister Road were made of wood and thatching.
In 2011, the club sold about 23 hectares of its 104-hectare site to Berjaya Land Bhd for RM459 million ( US$ 104 million ) to develop a low-density housing project, Malay Mail reported.
In 2002, the team had agreed to sell the whole Batu Gantung page to engineer Abad Naluri Sdn Bhd for RM488 million.
The developer had planned to build the Penang Global City Centre, a RM25 billion ( US$ 5. 6 billion ) mixed-use job incorporating shopping malls, hotels, apartments, practices and a cultural center that was touted as a game change for Penang.
However, public demonstrations and Abad Naluri’s failing to meet some needs led to the job being rejected in 2008.
The job was commonly said to be behind the collapse of the Gerakan gathering in Penang, local media reported. Now an opposition party, Gerakan again dominated the state government.