Design Village outlet mall to open in Penang next month

October 22nd, 2016 No comments


Malaysia’s biggest outlet mall, Design Village, will open its doors from November to offer a selection of items at lowered prices.

The outlet mall, located within the newly-developed township of Bandar Cassia in Batu Kawan, is the first in the northern region.

Built on a 24-acre tropical garden, the mall will have popular brands from fashion to home appliances all at markdown prices.

Sports brand Adidas will open its biggest outlet store in Malaysia at this mall to offer a variety of footwear and attire at lowered prices.

There will also be brands new to the region such as the Travel For All Outlet store that will have luggage, travel accessories and winter wear, also at markdown prices.

Shoe stores Aldo and Bata will also be opening their first outlet stores at this mall.

Leather products will also be sold at a steal with the opening of the first Leather Made Outlet store that sells bags and leather goods at lowered prices.

Design Village, developed by PE Land Group, is the first outlet mall in the northern region and is easily accessible via the North South Highway and the Sultan Abdul Halim Bridge.


Find out more about Design Village


Video taken in August 2016

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Budget 2017 no help in stimulating sluggish property market

October 22nd, 2016 No comments

budget-2017-no-helpBudget 2017 that was announced today did not provide measures to shore up the property market or to help the bulk of potential homebuyers to own homes.

Heritage Shield Real Estate Sdn Bhd CEO and immediate past president of the Malaysian Institute of Estate Agents K Soma Sundram said Budget 2017 focused more on helping those who can’t afford to buy a property rather than on assisting those who can, especially the middle-income group.

“I’m not excited with this budget as it does not really help in stabilising the property market or to stimulate market growth,” he said.

“Most of the middle-income earners are facing challenges in securing loans to own a home. However, this group of people, which is also the majority of potential homebuyers, seems to be ignored,” he added.

On the increase in stamp duty for properties above RM1 million from 3% to 4%, effective Jan 1, 2018, Soma said this measure could be a burden to homebuyers especially for those who are looking for an ideal home priced at above RM1 million.

Eric Lim, founder and group managing director of Hartamas Real Estate Sdn Bhd, said the proposed benefits and assistance are mainly limited to the PR1MA schemes. “It is regretted that more was not done to boost the property sector as it is a clear driver of the economy. Repeated calls to provide more assistance to first-time homebuyers, regardless of property price, have gone unheeded,” said Lim, who is also MIEA deputy president.

On the “step-up” end-financing for the Perumahan Rakyat 1Malaysia (PR1MA) programme, Lim felt that it should not be limited to only PR1MA.

“By freeing up the financing limitation, it will certainly increase home ownership. While details have yet to be released, there are many new housing developments priced within the RM400,000 price range in which buyers will benefit as well.

On stamp duty increment for properties priced above RM1 million, Lim said the threshold should perhaps be higher as it is fairly easy to breach the RM1 million price point in the Klang Valley. The move will also discourage foreign investors since RM1 million is the floor price for foreign homebuyers.

Meanhile, Lim Boon Ping, training and development manager at Kim Realty and MIEA’s national vice-president said the stamp duty rise was surprising.

“The announcement of the increase in stamp duty for all properties worth more than RM1 million came in as a total surprise for me,” he said. “I believe this move by the government is to tax the rich to boost up tax collection.”

He expects the performance of this particular type of property will continue to soften and the market is expected to experience some adjustment before the measure is implemented in 2018 similar to the situation before the Goods and Services Tax (GST) was implemented.

“Overall, the budget shows that the Malaysian government continues to address first-time home ownership and what was announced are within expectations,” Lim told

Lim also lauded the government’s effort on the “step-up” end-financing scheme for PR1MA as well as the People’s Housing Programme (PPR).


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Budget 2017: What’s in it for housing?

October 21st, 2016 No comments


For housing, the following was announced to enhance first home buyers’ affordability:

  • Financing will be easier and more accessible to buyers with total loan of up to 90% to 100% with loan rejection rate to be reduced drastically. For example, applicants with monthly income of RM3,000 now eligible for loan of more than RM187,000, will be able to borrow RM295,000.
  • Stamp duty exemption increased to 100% on instruments of transfer and housing loan instruments, to help reduce the cost of first home ownership. This exemption is limited to houses with value up to RM300,000 for first home buyers only for period between Jan 1 2017 this and Dec 31 2018.
  • A new special “step up” end financing scheme for PR1MA programme, under which, 12,000 units worth RM3bil have been booked.
  • To provide government vacant lands at strategic locations to GLCs and PR1MA to build more than 30,000 houses at a selling price or RM150,000 to RM300,000.
  • To build around 10,000 houses in urban areas for rental to eligible youths with permanent job including young graduates entering the labour market.
  • To build 5,000 units of People’s Friendly Home, with the Government subsidising up to RM20,000 per unit. RM200mil will be allocated to SPNB.
  • To increase the civil servant’s housing loans to RM200,000 and RM750,000 from RM120,000 and RM600,000 respectively.
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Gurney Wharf making good progress

October 21st, 2016 1 comment


People strolling along Gurney Drive are getting a respite from the muddy water that used to come up the shoreline.

A perimeter rock bund of the reclamation work going on off the coast has helped keep the murky water away, providing a jade-green seaview at high tide now.

A spokesman for Tanjung Pinang Development, which is responsible for the 53ha reclamation project, said the bund was almost 2km long.

It is 100m from shore at the nearest point and about 500m away at the furthest.

While the bund is to protect the surrounding sea during the reclamation, it has helped the shoreline.

At low tide now, tidal pools of clear water form, drawing flocks of coastal birds in search of fish.

“The bund is a temporary coastal structure to prevent erosion and keep small particles from dispersing into the sea,” explained the spokesman.

She said the bund was a requirement of an environmental impact assessment that was done earlier.

The area within the bund, she said, would be filled with sand at the end of next month or early December.

This is by far the largest reclamation project in the state and some Penangites have mixed feelings about it.

Penang Citizens Awareness Chant Group lauded the development and looked forward to the 24ha seafront public park, dubbed Gurney Wharf.

Find out more about Gurney Wharf

Social activist Anil Noel Netto hoped future developments would benefit people at large.

He was speaking at a talk entitled Gurney Drive Past, Present and Future orga­­nised by Penang Heritage Trust (PHT) in a Gurney Drive coffeeshop on Sunday.

Also there was PHT trustee Datuk Anwar Fazal and Malaysian Nature Society adviser Datuk Dr Leong Yueh Kwong.

Gurney Wharf will feature concepts inspired by internationally-acclaimed parks and should be completed in 2020.

Among its attractions will be a waterfront promenade, hawker centre, pier, 400m sandy beach and skate park.



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UPCOMING: Batu Maung / Webest Land Sdn. Bhd.

October 20th, 2016 1 comment


A newly proposed luxury condominium Webest Land Sdn. Bhd. at Batu Maung. It is located along Jalan Permatang Damar Laut, adjacent to Sunway Mutiara housing scheme by Sunway Property.

This development will see the construction of a 25-storey building, comprises 42 residential units and 4 levels of car park.

More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Batu Maung, Penang
Property Type : Condominium
Total Units: 42
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Webest Land Sdn. Bhd.

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