UDA Holdings Berhad will allocate RM5 million to develop and upgrade recreational facilities and parks across Penang, with its first public recreational park planned on a 2.5-acre site next to its 8&8 condominium development in Tanjung Tokong.
Minister of Entrepreneur and Cooperatives Development Steven Steven Sim Chee Keong announced the allocation during the opening of UDA’s 8&8 condominium experience centre on Saturday (October 17).
The first park will be built beside the residential development, providing recreational space for residents and the surrounding community. The initiative is part of UDA’s efforts to enhance public amenities and create more accessible outdoor spaces in Penang.
While details of the other locations to benefit from the RM5 million allocation have not been announced, the funding is intended to support the development of new recreational facilities and the upgrading of existing parks across the state.
8&8 project to get freehold status
During the same event, Sim revealed that the Penang state government had agreed to convert the land tenure of UDA’s 8&8 condominium development in Tanjung Tokong from leasehold to freehold.
The project comprises two residential towers and is expected to be completed in 2029.
Sim also said UDA was offering the condominium units at a subsidised rate of RM700 per square foot, compared with prevailing land prices of approximately RM800 to RM1,000 per square foot in the area. He stressed that more accessible pricing should go hand in hand with good housing standards.