Hmm...wondering how the state government will negotiate with Boustead. If they do compensate the developer with land or money, I'm quite sure the other affected parties will seek the same kind of compensation from the Penang State Government...
Boustead Holdings Bhd is seeking compensation in the form of land replacement from Penang state government as it will reduce the height of its new Royale Bintang Hotel.
The group had agreed to alter its hotel construction plans to comply with the United Nations Educational, Scientific and Cultural Organisation (Unesco) guidelines on World Heritage which recommends that buildings in Penang's heritage zones should be less than five storeys tall.
"We are seeking compensation, we are still in talks with the state government. It could be in the form of land compensation," said Boustead deputy chairman and group managing director Tan Sri Lodin Wok Kamaruddin.
Construction of the RM140 million Royale Bintang Hotel project behind the General Post Office in Lebuh Downing hit a snag in November 2008 when the Penang state government pointed out that the proposed buildings were too high.
Boustead is one of four companies which received approvals from the Penang Municipal Council to build hotels in the heritage zone before it was placed on the World Heritage List.
BTimes
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