Penang’s Rice Miller project to be completed 1Q15

GEORGE TOWN: Asian Global Business Sdn Bhd’s (AGB) Rice Miller Hotel & Godowns, and The Rice Miller City Residences will be ready within the first quarter of 2015 (1Q15).

“We have gone to great lengths to conserve some of the 19th century buildings on the three-acre (1.2ha) site while ensuring future residents enjoy a 21st century lifestyle,” said group managing director Dr Noraini Abdullah.

This mixed development, which comprises the hotel, retail space and residential units, has a gross development value of RM250 million.

The 5-star boutique Rice Miller hotel will have 45 suites and a penthouse, with rates from RM950 to RM1,150 for the suites and RM3,000 for the penthouse. The suite sizes range from 559.7 sq ft to 602.8 sq ft, with the penthouse spanning 1808.3 sq ft.

The Godowns will have retail spaces and five function areas — lobby, salon, mezzanine, galley and studio. This entire portion measures 18,600 sq ft. It has been restored to encompass 23 retail spaces, and houses the Carriageway, an authentic cobbled street lined with food and beverage outlets, namely Kate at 9, Shrooms, The Mill brasserie, the Sweet Spot deli, the ZYP bar and the Lobby Lounge.

“The different elements within the Godowns make ideal venues for any event,” said Patrick Moukarzel, the general manager of The Rice Miller Hotel & Godowns. “We can host dinners, cocktail receptions and weddings. We could even host a car exhibition inside. It’s very flexible.”

The Rice Miller City Residences, which will be ready for handover by May 2015, will have 99 freehold units with sizes ranging from 818 sq ft to 3,300 sq ft. With prices starting at RM1,500 per sq ft, there has been a take-up rate of 55% since its launch in 2012 with the majority of its purchasers consisting of Malaysians working or living abroad.

The site, stretching from Weld Quay to Beach Street, is the last piece of contiguous land in Georgetown. Development was delayed due to problems such as the soil, and the entry and exit of construction vehicles due to neighbouring properties. Its location within the United Nations Educational, Scientific and Cultural Organisation (Unesco) World Heritage Site has actualised the concept of integrating urban development with the historical landscape of Penang.

“What AGB is about is unlocking the value of George Town. We believe it is very essential to create a cultural hub that will be attractive enough for both visitors and residents in the Rice Miller community,” said Dr Noraini.

From left: AGB chairman Kate Lim, Moukarzel and Dr Noraini showcasing a model of the Rice Miller development.

This article first appeared in The Edge Financial Daily, on August 22, 2014.


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