tag:blogger.com,1999:blog-76148605523951397222012-02-01T19:54:05.919+08:00Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.comBlogger12561100tag:blogger.com,1999:blog-7614860552395139722.post-31910737333149883302012-01-31T22:24:00.003+08:002012-01-31T22:47:08.206+08:00

Vertiq Condominium (Pearl Regency Block 2) is an IJM Land project located at Metro East, Gelugor, Penang. Vertiq consists of 318 condominium units, with each unit having a built-up area of 1,044 sq.ft. Facilities at Vertiq include basket ball court, swimming pool, mini water park, jacuzzi, indoor and outdoor gym, sky garden, sky lounge, jogging track, community hall, home automation

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The proposed new housing loan scheme for those in the low and middle income group here can keep the city “thriving, vibrant and youthful,” said the Real Estate and Housing Developers Association (Rehda).Its president Datuk Seri Michael Yam said Prime Minister Datuk Seri Najib Tun Razak and the Federal Territories and Urban Well-being Ministry should be complimented for proposing the

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Moulmein Rise is a new project by Belleview situated close to the Pulau Tikus wet market at Jalan Moulmein, Pulau Tikus, Penang. Moulmein Rise consists of a 27-storey building block comprising 84 units residence suites with two-level podium of commercial retail shoplots. Property Project : Moulmein RiseLocation : Pulau Tikus, Penang (Property for sale & rent in Pulau Tikus)Property Type :

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W Residences is a residential property project developed by Belleview Group located along Western Road (Jalan Utama), Penang. W Residences comprises 8 units luxury bungalows in a gated community with 24 hours security system that is guarded by a two-tier security electronic card system and CCTV monitoring. Property Project : W Residences @ Western RoadLocation : Jalan Utama, Georgetown, Penang (

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-22692262262878986172012-01-27T11:23:00.001+08:002012-01-27T11:24:57.273+08:00

The state government will not run away from problems faced by the people such as the issues of affordable housing, traffic congestion and civil services, Chief Minister Lim Guan Eng said.He said the state had allocated RM500mil to ensure affordable homes were made available to Penangites.“To deal with traffic congestion, we have open tenders on a proposal to construct three bypass highways and a

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com4tag:blogger.com,1999:blog-7614860552395139722.post-12451075437330307932012-01-27T11:16:00.005+08:002012-01-29T18:57:34.068+08:00

The Belleview Group is undertaking the development of RM1.724bil worth of property this year for Penang island and Kedah.Its managing director Datuk Sonny Ho said some RM360mil worth of property projects including All Seasons Park’s final phase, Moulmein Rise and W Residence were planned for the island.“The remaining RM1.364bil worth of property included the third and fourth phases of the

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Hunza Properties Bhd is launching about RM650mil of residential properties in Kepala Batas in Seberang Prai and Tanjung Bungah on Penang island this year.Group executive chairman Datuk Khor Teng Tong told StarBiz that residential properties worth about RM300mil in gross development value (GDV), comprising double-storey semi-detached, terraced, and low-medium cost houses, had been planned for

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The Tun Dr Lim Chong Eu Expressway in Penang is finally set to have three lanes on both sides of its entire stretch.A bottleneck near the Batu Uban marine police base which reduces the three lanes (on each side) to two is undergoing a road-widening project that began this month.Penang Chief Minister Lim Guan Eng said the RM3.7mil project was undertaken as a corporate social responsibility

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A majority of developers expect property prices to continue climbing in the first half of the year in tandem with rising costs.In a recent survey of members by the Real Estate and Housing Developers' Association Malaysia (Rehda), about 74% of respondents surveyed generally felt that prices would be on an upward trend, largely influenced by an increase in the cost of development.Rehda president

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Naza TTDI Sdn Bhd will commence works on its first out-of-Klang Valley project in Bertam, Penang next year.While the mixed development is still in its design stage, it will be Naza TTDI's long-term project geared towards the middle to high-end market.Deputy executive chairman and group managing director SM Faliq SM Nasimuddin said the gross development value had not been determined but gave a

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-73899731304010632392012-01-18T09:23:00.003+08:002012-01-18T09:27:36.218+08:00

Higher housing starts and building plan approvals last year signify confidence of developers and investors in the development activity, said National Property Information Centre (Napic) director Dr Zailan Mohd Isa.Some 400,000 transactions valued more than RM100 million were undertaken during the first three quarters of last year.Zailan said the second quarter of 2011 was the most active period

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-73991221038350877322012-01-17T09:02:00.003+08:002012-01-17T09:07:26.358+08:00

Penang is set to welcome investments totalling RM35 million this year from food and beverage operators into phase one of the Gurney Paragon development on Gurney Drive.The project's developer, Hunza Properties Bhd (HPB), has already seen the entry of nine tenants into Phase 1B of its multi-billion ringgit waterfront development with capital investments in excess of RM10 million."We are working

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A DEVELOPER is building 554 low medium-cost apartment units along Lebuhraya Halia in Tanjung Tokong, Penang.Currently 30% complete, the 38-storey Taman Bukit Erskine developed by Ivory Villas Sdn Bhd, a subsidiary company of Ivory Properties Group Berhad, is expected to be completed in 2014.Ivory Properties Group Berhad executive director Ron Loh said each unit with a built-up area of 654sq ft

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Headwinds from the gloomy global economic and financial fronts, particularly in the United States and the eurozone, will pose challenges to the performance of the local real estate investment trusts (M-REITs) this year.According to Malaysian REIT Managers Association chairman Stewart Labrooy, the M-REIT sector will face slower growth and competition for tenants as an oversupply situation emerges

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-28901607913001445722012-01-11T08:47:00.003+08:002012-01-29T18:58:11.095+08:00

Penang-based property developer Belleview Group will unveil new projects with a development value in excess of RM500 million this year in the northern region.Its managing director, Datuk Sonny Ho, yesterday said besides two launches on Penang island, the company is also set to launch first condominium project in Alor Star, Kedah."We are working with the state authorities to try and change Kedah's

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-30727074348309107192012-01-10T11:12:00.003+08:002012-01-10T11:15:56.692+08:00

The state government is not efficient in tackling traffic woes in Penang, especially on the mainland, claimed state Gerakan Environmental Bureau chief Tan Chai Liang.“If anything, the so-called effort by the state government through its car-free day campaign and bicycle-riding programmes failed to counter the worsening traffic problems in Penang,” he said.Describing such efforts as short-term

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com6tag:blogger.com,1999:blog-7614860552395139722.post-72054323826054391212012-01-03T11:57:00.008+08:002012-01-09T09:28:44.050+08:00

Article by FREEMENIn continuation of our analysis of the Malaysian real estate market, let’s take a look at the national statistics of the country and ask ourselves the big question – are we experiencing a property boom or is it a bubble? Register at www.aboutpropertyinvestment.com to know more. Again, most of our reference will be from the 3rd quarter Malaysian Housing Property Index (MHPI)

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Precinct 10 is a commercial property development by BSG Property located at Tanjung Tokong, Penang. Precinct 10 is situated just next to the Island Plaza, consists of 2-storey shop offices / F&B outlets. The F&B operators at Precinct 10 include Burger King, BeerBQ Bistro, Sushi Zento, Winter Warmers, Snow House, Chez Weng, Old Town Town White Coffee and Nueve. Property Project : Precinct 10 @

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-30562957881108864032012-01-02T09:44:00.000+08:002012-01-03T09:47:28.102+08:00

A RETIREE feels like he has struck the lottery after being offered to buy a new low medium-cost (LMC) unit at the Central Garden project in Batu Lanchang, Penang.Teh Soay Hun, 62, said it was good news for him and his family as there were only limited units at the project and he was one of the lucky few to be offered to buy a unit.Batu Lanchang assemblyman Danny Law said there were 195 LMC units

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-62816940534349038302011-12-31T12:06:00.002+08:002011-12-31T12:09:11.761+08:00

Yes.In all likelihood, there will just be slower growth across the board for the mere fact that the last three years have seen exceptional growth since 2008, when the global crisis hit. The following year saw a recovery and 2010 was a year of exceptional growth. Property professionals had never seen such price increases in their 30 years in the profession, where prices went up by double digits in

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-14656674386234248722011-12-31T12:02:00.002+08:002011-12-31T12:05:19.180+08:00

Beginning tomorrow, new guidelines from Bank Negara Malaysia to curb rising household debt are going to kick in. The guidelines cover all consumer loan products including housing, personal and car loans, credit card receivables as well as loans for the purchase of securities.Instead of loan approvals being based on gross pay, they will be based on net pay, after income tax, social security

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com1tag:blogger.com,1999:blog-7614860552395139722.post-45758978147577499862011-12-31T11:59:00.001+08:002011-12-31T12:01:38.859+08:00

The steep increases seen in the last two years expected to sputter to a halt on weak global sentimentThe overall weak global sentiment is expected to cast a pall over the property sector, which is expected to undergo some downward correction next year, agents, property consultants and developers say, with the steep increases seen in the last two years sputtering to a halt. Virtually all segments

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-14311845127165658212011-12-31T11:56:00.000+08:002011-12-31T11:57:40.019+08:00

The sector's growth will hinge on timely implementation of announced mega infrastructure projectsCAN you blame the construction industry for being cautiously optimistic about the outlook for 2012? The growth of the sector next year will mainly hinge on the timely implementation of announced mega infrastructure projects.That is a big if. Master Builders Association Malaysia (MBAM) president Kwan

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-18946788360946485372011-12-28T12:10:00.002+08:002011-12-28T12:12:22.241+08:00

The residential property market is expected to remain rather encouraging next year as consumers start to focus on affordable homes.OSK Research Sdn Bhd said the fact that most of recent launches were of units in the high-end segment could signal that the upcycle is at its tail-end and developers were rushing to capture any remaining upside before the sentiment for such properties turns sour."

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-50995792436329207882011-12-28T10:32:00.003+08:002011-12-28T10:40:32.566+08:00

A piece of land covering the peak of Pearl Hill in Tanjung Bungah and its surrounding area in Penang will be transformed into a park with a viewing point for tourists.Tanjung Bungah assemblyman Teh Yee Cheu said a 6.07ha piece of land where a Tua Pek Kong Temple is located near the peak of the hill had been identified for the project.He said the park would be located some 152.4m above sea

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com1tag:blogger.com,1999:blog-7614860552395139722.post-74455188283939640222011-12-24T12:04:00.003+08:002011-12-24T12:06:10.195+08:00

Applicants of affordable housing in Penang must update their personal particulars by March 21 or they will be considered “inactive”.State Town and Country Planning, Housing and Arts Committee chairman Wong Hon Wai said a total of 84,445 applicants who registered before Dec 31, 2007, had not updated their status.He said updating the database would enable the state secretariat to more effectively

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com5tag:blogger.com,1999:blog-7614860552395139722.post-60581641008621602922011-12-22T15:47:00.001+08:002011-12-22T15:49:01.581+08:00

The Malaysian property market is likely tosee a gradual slowdown next year, taking into consideration the uncertainty in the global economic situation.President of Fiabci Malaysia, Yeow Thit Sang, said the high end residential units were already seeing a slowdown both in pricing and the take-up rate."There are less expatriates from multinational companies (MNCs) coming here and rentals with a

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-59153916632607637082011-12-21T22:21:00.003+08:002011-12-21T22:41:39.660+08:00

Maritime Piazza is the commercial component of The Maritime project by IJM Land located off Jelutong Expressway in Georgetown, Penang. Maritime Piazza comprises 29 units single storey shop, 12 units 2-storey piazza shop and 9 units 3-storey shop office. The built-up area for 1-storey shop ranging from 753 sq.ft to 2088 sq.ft, 2-storey piazza shop ranging from 1,873 sq.ft to 2,939 sq.ft and 3-

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com1tag:blogger.com,1999:blog-7614860552395139722.post-12817019901546512672011-12-21T21:32:00.005+08:002011-12-21T22:20:41.624+08:00

Maritime Suite is a component of The Maritime project by IJM Land located off Jelutong Expressway in Georgetown, Penang. Maritime Suite comprises two blocks with a total of 240 duplex suites. The suites which can perform the dual function of a residence as well as an office. The suites built-up size is from 883 sq.ft. onwards. Facilities at Maritime Suite include swimming pool, indoor & outdoor

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com3tag:blogger.com,1999:blog-7614860552395139722.post-87693431042861921762011-12-21T09:17:00.000+08:002011-12-21T09:18:52.443+08:00

The Penang Government should build low-cost houses for its people first and worry about land conversion later, said MCA president Datuk Dr Chua Soi Lek.“The Chief Minister said they cannot build low-cost houses because there is no freehold land to build them on.“If they don't build any (low-cost houses) soon, Penang and Selangor will become states for the rich while the poor and middle class will

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com4tag:blogger.com,1999:blog-7614860552395139722.post-40483688461019635442011-12-20T11:43:00.005+08:002011-12-20T11:50:13.806+08:00

Participants of a forum held here have passed a resolution urging the state government to impose a moratorium on high-rise and high density development.The participants of Penang Forum 4, which numbered about 80, wants the moratorium to be in place until the Local Plans for the state were approved by the public.They also called upon the state to institute a more participatory planning process

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com2tag:blogger.com,1999:blog-7614860552395139722.post-37614556496710828262011-12-19T10:10:00.003+08:002011-12-19T10:17:29.756+08:00

The most comprehensive property database from Malaysia now a click awayMalaysia is a favored destination that has attracted investors from not just the country but foreign lands too. There are many factors that have together contributed in drawing investors in such huge counts. There are many places in Malaysia which top the preference list of interested buyers. Just one such place is Penang.The

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-29379157762515574892011-12-16T09:24:00.003+08:002011-12-16T09:35:48.494+08:00

Hunza Properties Bhd will submit plans to the local authorities next year for a mixed-development project in Bayan Baru with a gross development value (GDV) of RM6bil to RM7bil.Executive chairman Datuk Khor Teng Tong told a press conference after the company's AGM that the group had engaged a couple of architects from Singapore to draw a master plan for the project sited on over 16.2ha, opposite

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-8920316071371366252011-12-15T22:38:00.002+08:002011-12-15T22:41:06.709+08:00

The property market is expected to moderate next year with prices likely to see minor correction due to the fragile global economic environment with the ongoing unresolved Euro-debt crisis and prevailing weaknesses in the US economy.Immediate past president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, Malaysia or PEPS, James Wong

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Luxury homes will continue to sell in 2012 despite the uncertainty in economy outlook.SP Setia Bhd general manager (property division — north) Datuk S. Sundarajoo said people would still buy homes although there could be a slowdown as they wanted to make observations before deciding.“It won’t come to a crunching standstill,” said Kuala Lumpur-born Sundarajoo, who helms the company’s three

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-64248191287897253152011-12-13T21:08:00.006+08:002011-12-13T21:41:21.820+08:00

Sanctuary Garden @ Permatang Sanctuary by IJM Land is located at Permatang Tinggi, Bukit Mertajam, Penang. Sanctuary Garden comprises 92 units 2-storey linked semi-detached house and 78 units 2-storey semi-detached house. Each unit of the 2-storey linked semi-detached and 2-storey semi-detached has a land area measuring at 33' x 80' and 33' x 83' respectively. Property Project : Sanctuary Garden

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-25276686450290157412011-12-12T22:14:00.002+08:002011-12-12T22:22:18.778+08:00

Idaman Melur Apartment is a low-cost apartment project located at Sungai Ara, Penang by Koperasi Tunas Muda Sungai Ara Berhad. Idaman Melur consists of one apartment block with a total of 280 low-cost units. Each unit has a built-up area of 650 sq.ft.Property Project : Idaman MelurLocation : Jalan Dato Ismail Hashim, Sungai Ara, Penang (Property for sale & rent in Sungai Ara)Property Type :

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-65788787832018629612011-12-12T11:42:00.003+08:002011-12-12T12:06:23.090+08:00

Taman Kuala Sungai Pinang is a low-cost housing project located at Balik Pulau, Penang. Taman Kuala Sungai Pinang comprises 180 units low-cost single storey semi-detached houses and 36 units low-cost single storey detached houses. Every unit has a built-up area of 650 sq.ft. with three bedrooms.Property Project : Taman Kuala Sungai PinangLocation : Kuala Sungai Pinang, Balik Pulau, Penang (

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Desa Nipah is a low cost apartment project located at Balik Pulau, Penang. Desa Nipah consists of a 5-storey apartment block with a total of 80 low cost units. Each unit has three bedrooms with built-up area of 697 sq.ft.Property Project : Desa NipahLocation : Jalan Sungai Nipah, Balik Pulau, Penang (Property for sale & rent in Balik Pulau)Property Type : Apartment (Apartment for sale & rent)No

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Developer posts 30% jump in FY11 net profitSP Setia Bhd posted a 30% year-on-year jump in net profit to RM327.97mil for its financial year ended Oct 31, 2011 (FY11). The property developer attributed this mainly to higher selling prices for new launches and the stabilisation in the prices of construction materials. Revenue also increased 27.9% to RM2.23bil.The group also set a new full-year sales

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Citrus @ Setia Greens, a residential property development by SP Setia located at Sungai Ara, Penang. The Citrus series of Setia Greens has a total of 18 units 3-storey semi-detached house. There are two design layout to choose from, Citrus 1 (Type A) with built-up area from 3,540 sq.ft. & land area measuring from 2,494 sq.ft. (32 x 78) while Citrus 2 (Type B) has a built-up area from 3,136

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Raffles Residence 199 is a new residential property project by Boon Siew Group (BSG Property) located at Bukit Gambier, Gelugor, Penang. Raffles Residence 199 comprises 199 units of 3-storey terrace house. The terrace house comes in fresh and innovative architectural design combined with practical space for comfortable modern living. Property Project : Raffles Residence 199Location : Bukit

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com2tag:blogger.com,1999:blog-7614860552395139722.post-27912851012407212012011-12-04T22:46:00.007+08:002012-02-01T16:29:13.410+08:00

Raffles Tower is a new property project by Boon Siew Group (BSG Property) located at Bukit Gambier, Gelugor, Penang. Raffles Tower consists of two 29-storey condominium blocks with a total of 260 units. There are only five units per floor and it comes in full condominium facilities.Property Project : Raffles TowerLocation : Bukit Gambier, Gelugor, Penang (Property for sale & rent in Bukit

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com5tag:blogger.com,1999:blog-7614860552395139722.post-43443456249818154752011-12-04T17:17:00.001+08:002011-12-04T17:18:54.201+08:00

A group of residents in Lembah Permai, Tanjung Bungah are objecting to a proposal by a developer to construct two 32-storey apartment blocks and a nine-storey apartment there.The residents attended a dialogue session called by the Tanjung Bungah Residents Association (TBRA) to raise awareness about amendments in the development plan that has yet to receive approval from the Penang Municipal

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Caucasians comprise the bulk of those purchasing the RM255mil Infinity Beachfront Condominium that recently clinched the FIABCI Malaysia Property Award 2011 under the residential (high rise) category.Hunza Properties Berhad executive chairman Datuk Khor Teng Tong said the project attracted Caucasians because it had access to a 105m-long beachfront as well as a 136m-long river frontage.“Beachfront

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For a while now, there has been speculation about who would partner Ivory Properties Bhd in its multi-billion ringgit Bayan Mutiara project in Penang.That was ended when it roped in Dijaya Corp Bhd. They now plan to build residential and commercial properties on the land, estimated to generate sales of some RM10 billion.This is not their first tie-up. Within the Batu Ferringi tourism belt, Dijaya

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Along-awaited dream has come true for sisters Yap Siew Bee, 41, and Siew Thoo, 26, who have received a new low medium-cost home.“I am so happy today and I can’t wait to move into our unit when it is completed,” said Siew Bee.Siew Thoo said that previously, their large family of 10 all stayed under one roof.“Now, we will have two units for all of us to live in,” she said when they visited the

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com2tag:blogger.com,1999:blog-7614860552395139722.post-80446241768729690362011-11-26T10:51:00.004+08:002011-11-26T10:57:29.202+08:00

Is there any equilibrium point in housing market, considering the many factors influencing demand and supply?The main determinants of the demand for housing are demographic. Population size and population growth are the core demographic variables. However, family size, the age composition of the family, the number of children, net migration, non-family household formation, the number of double

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We’ve just finished analyzing the results for the 3rd quarter Malaysian Housing Property Index (MHPI) property report (until September 2011), compiled by the National Property Information Center, NAPIC. Malaysian Housing Property Index is an index of all-house prices in Malaysia. These are reports available for public on a quarterly basis. All information is based on secondary or sub-sale

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.comtag:blogger.com,1999:blog-7614860552395139722.post-73511817967174859552011-11-18T10:42:00.001+08:002011-11-18T10:43:45.956+08:00

The increased deposit to obtain a housing development licence from RM200,000 to 3% of the project’s estimated cost is to ensure developers are committed to building homes.Housing and Local Government Minister Datuk Seri Chor Chee Heung said the higher deposit would see only those with sufficient financial resources take up projects.“We want only those with solid financial ability to build houses

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The state government will not allow any new land reclamation along Gurney Drive as part of its deal with developers to construct infrastructure projects.Chief Minister Lim Guan Eng said any land swap would only involve the existing land reclamation rights granted to Eastern & Oriental Bhd by the previous administration.He said people should not “jump up and down” as the state was bound by the

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A Bill to make it a criminal offence for developers who fail to complete their projects has been tabled in Parliament for first reading.Under Clause 9 of the Housing Development (Control and Licensing) (Amendment) Bill, errant housing developers can be fined up to RM500,000, jailed up to three years or both.The Bill was introduced by Housing and Local Government Minister Datuk Seri Chor Chee

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Land swapping should not be the only instrument used for funding four infrastructure projects for Penang.Real Estate & Housing Developers’ Association (Penang) chairman Datuk Jerry Chan said since Penangites were the beneficiaries of the projects, one possibility was to consider raising quit rent and building assessment charges.He added that land should not be the only instrument used, as Penang

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com4tag:blogger.com,1999:blog-7614860552395139722.post-89333745263174463142011-11-17T09:48:00.000+08:002011-11-17T21:49:54.981+08:00

Deputy Prime Minister Tan Sri Muhyiddin Yassin has questioned the logic behind the proposed third link between Penang island and the mainland, warning it may end up being a waste of funds.“It is up to the Penang Government to decide on this project. But I must caution them against wastage.“Such a mega-project would require a lot of money. What is the need for a tunnel, I don't know.”Muhyiddin

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The Penang government will pay developers with prime land around the Gurney Drive tourist belt to construct three bypass highways and a sea tunnel linking the island to the mainland costing around RM8bil.Chief Minister Lim Guan Eng said the mega project will be the state's biggest infrastructure exercise and is meant to resolve the island's severe traffic congestion problem.The proposed traffic

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-73575192434678407312011-11-15T11:19:00.004+08:002011-11-15T11:30:04.665+08:00

Dijaya Corp Bhd and Ivory Properties Group Bhd shares were up after the companies announced a tie-up for a mixed-property project with a gross development value of RM10bil in Bayan Mutiara, Penang.Dijaya rose 3.6%, or 5 sen, to RM1.44 while its warrants advanced 6.5%, or 3 sen, to 49 sen. Ivory Properties added 7%, or 7 sen, to RM1.07.Dubbed Penang World City, the project will be undertaken by

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Tropicana Ivory Sdn Bhd (TISB) is investing RM10bil in a mixed residential and commercial property project on a 102.56 acre site in Bayan Mutiara, Penang.TISB is a 51:49 joint venture between Ivory Properties Group Bhd and Dijaya Corp Bhd.Ivory Properties chairman and chief executive Datuk Low Eng Hock said the development covered 102.56 acres, of which 67.56 acres comprised existing land and 35

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The Penang Government is allocating RM500mil, generated from the sale of a 41.5ha prime site along the Tun Dr Lim Chong Eu Expressway on the island, to set up an Affordable Quality Homes Fund.Chief Minister Lim Guan Eng said the allocation was consistent with the state government’s commitment towards ensuring that affordable quality homes were made available for Penangites.“A location for such

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The state government should consider building low medium-cost (LMC) units on the island instead of pushing such projects to the mainland.State Gerakan Housing bureau chairman Quah Kooi Heong said that to date, Chief Minister Lim Guan Eng had only announced one notable LMC project, which is the one located on the mainland in Batu Kawan.“Lim has failed to realise that there is demand for LMCs on

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-37500018853750315322011-11-05T09:35:00.003+08:002011-11-05T09:45:28.513+08:00

What is it about the sea that attracts both developers and homebuyers? Along the Penang coastal road from Gurney Drive to Batu Ferringhi, condominiums, apartments and landed housing compete for buyers and tenants.Landed units and villas sit snugly on hill slopes fronting narrow roads on one side while multi-storey high-rise projects front the sea or the beach with names like Skyhomes By the Beach

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-73468672964422655662011-11-05T09:22:00.004+08:002011-11-05T09:33:35.408+08:00

Selangor Dredging Bhd (SDB) will be making its debut on Penang shores, literally, with a breezy project known as By The Sea.The foray into the island's famed Batu Ferringhi beach comes just several months after the launch of its fourth project in Singapore.The Kuala Lumpur-based developer has completed several projects in the Klang Valley.“I believe I could do something different with this piece

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An assemblyman has asked the state government to review its existing requirements for developers to build low-cost or low medium-cost houses, to compel them to build more of such units.Jason Ong Khan Lee (PKR-Kebun Bunga) said the current requirement was that developers build 30% of low or low-medium cost houses when they undertake projects to construct over 150 units in the medium to high-cost

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Not a single low-cost house has been built by the Penang Government from 2008 to 2010.The Auditor-General’s Report stated that all low-cost housing projects in the state had been built by private developers during this time.“From 2008 to 2010, a total of 14,059 applicants for low-cost housing and Public Housing Projects have been registered, with the total number of applicants standing at 152,702

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The Penang state government has cancelled a plan to allow Boustead Holdings Bhd (BHB) to reclaim up to 0.16 hectares of land off the Penang Bridge.Boustead was initially given the rights as part of compensation package for agreeing to scale down a hotel development project in the state's heritage zone.A statement from Chief Minister Lim Guan Eng's office, obtained by Business Times yesterday,

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Construction of the second Penang bridge is likely to be completed two months ahead of its projected November 2013 schedule.Subject to weather conditions and other considerations, it was likely that work on the new bridge will achieve 70 per cent progress by the end of this year, Works Minister Datuk Seri Shaziman Abu Mansor said yesterday.The bridge connecting Batu Kawan on Penang mainland and

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-60132614573681958212011-10-17T18:26:00.002+08:002011-10-17T18:29:31.972+08:00

The Bayan Bay community today affirms their trust and belief with the Pakatan Rakyat led State Government as Chief Minister Lim Guan Eng scraps a reclamation deal with Boustead Holdings Berhad (BHB), and paid attention instead to the voice of the rakyat of the Pantai Jerejak constituency.The reclamation deal was a result of a botched development deal made by the previous Barisan Nasional

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Sunshine Tower is a mixed development property project located at Farlim, Ayer Itam, Penang. Sunshine Tower to be built on the current site of the Sunshine Farlim Shopping Mall by Crimson Omega Sdn Bhd, a wholly owned subsidiary of Suiwah Corporation Bhd. The project consists of serviced apartments, SOHO, retail outlets and a business hotel. Property Project : Sunshine TowerLocation : Farlim,

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com3tag:blogger.com,1999:blog-7614860552395139722.post-10074549117991794092011-10-16T09:05:00.001+08:002011-10-17T09:07:56.131+08:00

Uplands Resort Sdn Bhd plans to build 189 units of medium-range condominiums in Batu Ferringhi to address the need for affordable housing in Penang.Its director Albert Chuan said they were targeting households with a combined monthly income of RM5,000 and below.He said plans for the project, located on a 0.9 ha site on Jalan Sungai 1, had been submitted to the local authorities.“We hope to get

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-67384650327450142662011-10-15T11:28:00.002+08:002011-10-15T11:32:33.561+08:00

It does not help that residential property prices are constantly on the uptrend.“Property is unique, in the sense that they’re big ticket items that are virtually recession-proof. Today, it’s at one price, tomorrow it will definitely be higher,” says one industry observer.According to data by the National Property Information Centre (Napic), the price of the “average house” in Malaysia reached

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The signs of the times are here, and they are not unique to Malaysia. The concerns about the global economy are real. Whether one is an avid property watcher or a young person considering a downpayment on one's first home, there are certain things to take into account.Says property consultant and valuer Elvin Fernandez of the Khong & Jaafar group of companies: “It is clear and becoming clearer by

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By The Sea is a property project developed by SDB (Selangor Dredging Berhad) located at Batu Ferringhi, Penang. The project comprises 138 units beachfront luxury condominium. The built-up area ranging from 1,037 sq.ft. to 3,012 sq.ft. Property Project : By The SeaLocation : Batu Ferringhi, Penang (Property for sale & rent in Batu Ferringhi)Property Type : Condominium (Condo for sale & rent)

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Malaysia does not foresee a property asset bubble in the near future unlike China, Hong Kong and Singapore, which have such concerns.Housing and Local Government Minister Datuk Chor Chee Heung said that many local developers were still rushing to submit their applications for various projects.“No, I don't think so because we have not reached that stage. If you think this (slower property sales)

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com8tag:blogger.com,1999:blog-7614860552395139722.post-7922030812626267142011-10-13T10:06:00.002+08:002011-10-13T10:08:02.814+08:00

The Penang Municipal Council (MPPP) has officially re-zoned four localities on the island from residential to commercial status.Penang Municipal Council (MPPP) planning committee alternate chairman Felix Ooi Keat Hin said that between 2009 and last year, MPPP had completed its study on the re-zoning of Gurney Drive, Jalan Kelawai, Jalan Masjid Negeri and Jalan Bagan Jermal from residential to

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-24219600214034452662011-10-11T09:26:00.005+08:002011-10-27T14:21:30.446+08:00

Article by Michael TanAfter listening to the Budget 2012 and reading about it in the papers, I am of the opinion that the Budget 2012 offers a neutral position in the current economic situation. I think there are 2 areas the Government wants to address; one is the dissatisfied first time home owners, who are unable to buy their first property at the moment due to the ever escalating prices of

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Changing trends in Malaysian property marketProperty market in Malaysia is floating and stats show that the trend would remain so even in the coming year. The growing interest among foreigners, increasing demand and easier methods for locating dream properties have all contributed to this bubble in the Malaysian property market.Choosing properties: the searchPublic usually wish that when seeking

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Under Budget 2012, it was proposed that a real property gains tax (RPGT) of 10% be applied to properties held and disposed of within two years.Meanwhile a rate of 5% will be maintained for properties sold within the third, fourth and fifth years after purchase.The current RPGT, imposed after Budget 2010, is 5% for all properties sold within the first five years of purchase.However, consultants

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The Government has announced a slew of measures related to the property sector. While the real property gains tax (RPGT) was uppermost on the minds of both developers, consultants and property buyers, Prime Minister Datuk Seri Najib Tun Razak also proposed other measures to keep the momentum going for the sector.Under the My First Home Scheme (MFHS) announced earlier this year, Najib proposed

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OPPORTUNITY may present itself for house buyers looking for properties in the secondary market especially in prime areas, with the property market going through a soft patch, dampening sentiments of speculators.“We have not detected any downward trend in prices yet, in fact prices are still on an upward trend. However, sentiment may have been dampened by the anticipation of measures that the

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Prime Minister Datuk Seri Najib Tun Razak's Budget 2012 speech in Parliament Friday."The current rate of 5% on real property gains tax (RPGT) is not effective in curbing real estate speculative activities. If not controlled, it will put pressure on the price of real estate. In the long run, it will jeopardise the ability of the low- and middle-income groups to buy houses. To overcome this concern

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Prime Minister Datuk Seri Najib Tun Razak's Budget 2012 speech in Parliament.Property Sector :- To meet the demand for houses from those earning below RM3,000, the Government launched the My First Home Scheme in March 2011. To expand the scheme, the Government proposes to increase the limit of house prices from a maximum of RM220,000 to RM400,000. This improved scheme will be available to house

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The Real Estate and Housing Developers’ Association Malaysia (Rehda) hopes the Government will not implement any major systemic change for the property sector in Budget 2012.While applauding the current system, its president Datuk Seri Micheal KC Yam said frequent changes in the taxation and property-buying segment would disrupt the immense investment in property by both locals and foreigners. —

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The Penang Housing Unit should deploy more officers who can converse in Hokkien and Mandarin to handle queries from the public, says Jelutong MP Jeff Ooi.He said this would be of great help to those who cannot communicate effectively in Bahasa Malaysia or English.“I also feel housing officers should go more on the ground to brief the public on how to apply for low medium-cost (LMC) units.“They

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Real property gains tax (RPGT) would probably increase after Budget 2012 but experts are divided over the quantum or the new form the tax on property sales would take.Few are hoping for the rate to be maintained but others felt the RPGT would increase by another 5%. The current RPGT, imposed after Budget 2010, is 5% for all properties sold within the first five years of purchase.Previously, from

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com4tag:blogger.com,1999:blog-7614860552395139722.post-34427288288966897912011-10-03T09:50:00.003+08:002011-10-03T09:57:27.079+08:00

Some 350 residents living in six condominiums and houses along Persiaran Bayan Indah in Bayan Lepas want the seafront in the Bayan Bay area to be spared of any future land reclamation projects.Bayan Bay Residents’ Action Committee chairperson Sharifah Hamidah said the residents were not against development but were more concerned about the quality of life.“We want people to have access to the

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com17tag:blogger.com,1999:blog-7614860552395139722.post-1923538435169683052011-10-01T10:39:00.005+08:002011-10-01T10:48:53.050+08:00

IJM Land Bhd is poised to set the bar in Penang and the rest of the country soon on how a fully-networked property development can spur economic growth.The company's flagship development - The Light Waterfront Penang - will offer a digital lifestyle to all its investors, thanks to fully fibre-to-the-home services and high-speed broadband connection to both residential and commercial investors

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The state government is concerned over the lack of progress at the RM2.7bil Penang Sentral project in Bagan Dalam, Butterworth.Deputy Chief Minister I Datuk Mansor Othman said the project was launched by former Prime Minister Tun Abdullah Ahmad Badawi in July 2007 and the first phase was supposed to be completed by this year.The project’s first phase costing RM400mil involved the construction of

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LOW medium-cost (LMC) housing applicants are invited to attend a briefing conducted by Jelutong MP Jeff Ooi on Saturday.The briefing will be held at the Penang YMCA on Jalan Macalister at 2pm.Ooi said applicants would be told how they could avoid ‘booby-traps’ in order to secure a unit.“Even if you have received a letter saying that you are a successful applicant, there are (technical and

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-30583976513520935722011-09-27T10:20:00.001+08:002011-09-27T10:21:53.616+08:00

Property developers will be forced to raise prices of residential properties by as much as 20 per cent due to rising cost of building materialsThe Real Estate and Housing Developers' Association Malaysia (Rehda), however, does not think this will lead to a property glut."In Malaysia, there are very few investment portfolios that one can hold. Besides stocks and bonds, the other alternative is

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The Real Estate and Housing Developers' Association Malaysia (Rehda) is “cautiously optimistic” of the housing market outlook in the first half of next year despite a marked increase in building material and labour costs as well as a slowdown in economic activity.A Rehda survey found that 41% of the developers who responded were optimistic of the first six months of 2012 compared with the second

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More Malaysian developers are expected to invest abroad to diversify their source of earnings and avoid tough industry rules at home."Increasing affluence would accelerate these outward investments," The Real Estate and Housing Developers' Association Malaysia (Rehda) president Datuk Seri Michael Yam Kong Choy said after Rehda's first half 2011 property update yesterday.Recently, SP Setia Bhd

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Prospective home owners and investors made a beeline for SP Setia Bhd Group’s ‘Setia 4U Showcase’ featuring a vast range of its impressive developments at the Gurney Plaza here.It comprised both existing and upcoming projects in the northern, central and southern regions of the country, as well as those in Singapore and Australia.Datuk S. Sundarajoo, the company’s general manager, property

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-33836664453383626672011-09-24T10:40:00.002+08:002011-09-24T10:44:41.475+08:00

The state government may reject applications by housing developers to pay premium in the event they could not build low medium-cost (LMC) and low-cost (LC) units.State Town and Country Planning, Housing and Arts Committee chairman Wong Hon Wai said the state might reject such applications if they were to involve squatters and relocation issues which were yet to be resolved.He said the option for

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-18339220490815592832011-09-23T10:31:00.005+08:002011-09-23T10:38:40.953+08:00

Ewein Berhad is buying Menara IJM Land for RM50mil from IJM Properties Sdn Bhd, a subsidiary of IJM Land Berhad.In its announcement to Bursa Malaysia yesterday, Ewein said the expected total gross income per annum from the renting of the units and car parks comprising Menara IJM Land was about RM4mil per annum.“The proposed acquisition will widen and diversify the business activities as well as

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com4tag:blogger.com,1999:blog-7614860552395139722.post-37684267192982787622011-09-19T10:54:00.002+08:002011-09-19T10:59:27.005+08:00

As the property market gets “hotter”, there are complaints that prime units are being “pre-booked” before the launch dates.Groups of house buyers have claimed that although they were early at property launches, almost all end and corner lots of homes have been taken up.National House Buyers Association secretary-general Chang Kim Loong, who disclosed this, said prime lots in new housing projects

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com0tag:blogger.com,1999:blog-7614860552395139722.post-31595040460553418492011-09-17T09:35:00.002+08:002011-09-17T09:38:25.615+08:00

Since the high-end condominium market took a beating following the global financial crisis in 2008, their values have been left pretty much battered even today. Investors who got into the market around the peak must still be quite disheartened by the market's lethargy.The big supply coming onstream has also been a dampener on property values and the rental market of these residences.There are now

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com8tag:blogger.com,1999:blog-7614860552395139722.post-57994111139685854482011-09-16T10:37:00.003+08:002011-09-16T10:43:44.501+08:00

The Housing and Local Government Ministry hopes to table the amendments made to the Housing Development Act 1966 before the year-end in a bid to further regulate the property industry and safeguard the interest of house buyers.“We want to introduce more stringent rules to reduce the rate of abandoned housing projects,” Minister Datuk Chor Chee Heung said after delivering his keynote address at

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UOB Kay Hian has downgraded the local property sector due to slower residential home sales, especially in the second half of the year, coupled with an anticipated tightening of property measures.The research house, which downgraded the sector from “overweight” to “market weight”, said in its latest note that sales launches by property developer might had slightly dampened with average take-up

Apartment Penanghttp://www.blogger.com/profile/07176971812738393416noreply@blogger.com15tag:blogger.com,1999:blog-7614860552395139722.post-39503017706167684812011-09-09T23:33:00.004+08:002011-09-09T23:42:07.925+08:00

Trend can curb syndicates profiteering activitiesA new trend in property auction – open bidding – is set to cast out the stigma of foreclosure and forced sell, and it turn it into the preferred way to buy or sell properties. Srishanbid.com managing director Shanmugha Nanthan said a hassle free and quick manner open bidding was conducted by his company last week, transacting RM 3.765mil worth of

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Slower affordable property launches and less demand for such properties are some of the consequences of the proposed move by Bank Negara to assess housing loans on net income rather than on gross income.Registered and chartered valuer C.A. Lim & Co proprietor Lim Chien Aun told StarBiz that there would be an impact on the demand for affordable properties priced between RM100,000 and RM300,000.The

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SP Setia will develop the Penang People's Park project on the grounds of the Penang International Sports Arena (Pisa). Pisa is an indoor sports arena close to the Penang International Airport.The Penang government has set a precedent for housing developers in the state by allowing SP Setia Bhd to build extra units within any of its developments on the island over the next 30 years.This comes

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