Top 8 Property News Portal in Malaysia

November 30th, 2015 No comments

Today we are looking at a comparison of 20 property news portals in Malaysia with’s web traffic analytic and it is plausible to conclude that has accomplished a new milestone by achieving the fifth position with a monthly visits of 140,000 in October 2015.



The chart outlines the top 8 websites which have an estimated monthly traffic of 20,000 and above. leads the list by having an estimate of 650,000 visits a month. has been picking up and it is currently ranked 3rd.

Surprisingly, and traffic has been deteriorating over the past few months. In fact, the statistic also indicated that has less than half the traffic of :).

On the other hand,; a website owned by a worthy friend of mine continuously strives into the upwards trend and managed to hit the 8th ranking.

Should you come across any other more popular property news portal in Malaysia that we have missed out, check out their traffic using SimilarWeb’s traffic analytic tools and let us know if its website traffic is better than those listed here.

– Ken Lim

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Reclaiming two islands to cost RM8b

November 30th, 2015 1 comment

FD-pg6Gamuda Bhd-led project delivery partner — SRS Consortium Sdn Bhd — for the Penang Transport Master Plan (TMP) estimates the cost of reclaiming two islands measuring about 1,300 acres (526.1ha) and 2,100 acres to be about RM7 billion to RM8 billion.

Its project manager Szeto Wai Loong said the reclamation, identified as a land swap model to finance the RM27 billion TMP, is expected to take off in 2018 once federal and state approvals for the project components are attained.

He said that an 800-acre island next to these islands was also identified for further reclamation in future, pending the state’s needs.

Szeto said that the cost of the detailed environmental impact assessments for the road and rail-based public transportation segments, reclamation, and also feasibility studies could amount to about RM300 million to RM400 million which would be borne by the state.

“We will discuss with the state government, but financing would most likely be via land swap. A tender for the reclamation will be called once approvals from the authorities are completed and the detailed design for the rail-based segment is completed,” he told The Edge Financial Daily.

He said the islands with flushing channels would have 700 acres or 15% green space, 5km beach stretch, 25km coastal park, a 30 km-long waterfront, sheltered pedestrian walkways, and designated bicycle lanes.

“It would also house a meetings, incentives, conferences and exhibitions centre, sports arena, museum, and performing arts centre,” he told a press conference earlier.

Szeto, who is Gamuda Engineering Sdn Bhd executive director, said to date, the consortium has forked out RM10 million through bank borrowings to fund the preliminary study on the reclamation which included soil and aquatic studies.

He said that it was too early to determine the construction and development profit, but is expected to discuss land use with the state when the approvals are obtained.

On the estimated cost per sq ft, Szeto said: “The state would auction the reclaimed land to [the] public. I believe it would be based on market prices and nominal value at the time of auction”.

The Penang TMP would feature a light rail transit from Komtar to Bayan Lepas, monorail from Komtar to Air Itam and Tanjung Bungah, e-bus across the North Channel, bus rapid transits on the mainland, and a 20km “spine road” connecting Tanjung Bungah to Penang International Airport, and Tun Dr Lim Chong Eu Expressway with tunnels through the hills.

He said extensive studies conducted by the Danish Hydraulic Institute confirmed that the southern coast of Penang island was most suitable for reclamation.

“This is due to its natural embayment feature with weak tidal currents, shallow waters with a depth of about 3m, and is sheltered from the effects of tsunamis,” he said.

SRS Consortium, a joint venture in which Gamuda holds 60%, with Ideal Property Development Sdn Bhd and Loh Phoy Yen Holdings Sdn Bhd holding 20% each, received its appointment letter on Aug 14.

State Local Government, Traffic Management and Flood Mitigation committee chairman Chow Kon Yeow said the TMP would be funded through the sale of reclaimed land from the proposed South Reclamation Scheme.

“The reclaimed land will be an asset of the state and as the sole owner, the state government will be able to raise the funds needed to deliver the TMP effectively in a timely and sustainable manner,” he said.

Chow said it was pertinent to implement the TMP now before the “window of opportunity is closed” as increased property development would make it difficult to identify road and rail alignments on land which is presently undeveloped.

Last week, Chow said the reclamation was expected to have a five-time economic multiplier effect amounting to RM100 billion while also being a catalyst for growth for the state till 2050.

“The reclaimed land is expected to house the new Penang International Airport and provide additional space for industries, hence the growth catalyst for Penang,” he said.


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Reclaimed land to fund project in Penang

November 28th, 2015 14 comments

penangreclaimedlandmap2811The RM27bil Penang Transport Master Plan (PTMP) might be funded through the auction of two plots of reclaimed land in the southern coast of Penang island.

SRS Consortium, the appointed Project Delivery Partner (PDP) of the plan, has proposed the reclaimed land as an asset for the state to raise funds to deliver the project in a timely and sustainable manner.

The two man-made islands, located near Permatang Damar Laut, will be known as the South Reclamation Scheme (SRS) spanning 930ha and 445ha.

A third plot of 323ha reclaimed land next to the two islands has also been identified if there is a future demand for land activities.

SRS Consortium project director Szeto Wai Loong said Danist Hydraulic Institute, an internationally reputed water environment expert, recently carried out extensive studies on the southern coast of the island.

The institute, he said, confirmed that the coast was the most suitable for reclamation due to its natural bay area with weak tidal currents, shallow water and natural shelter from the effects of tsunami.

“They checked all the coastlines in Penang island, and found that the southern coast is most technically viable for reclamation as it has limited environmental sensitivity, with no seagrass or coral reefs.

“Our communications team will be engaging with the fishermen in the area. We want to hear them out,” he told reporters at a briefing in Komtar here yesterday.

Szeto said the man-made islands would see a new smart green city called SRS Smart City, aimed at re-energising Penang’s economic engine for the next 50 years.

He said the new city’s location would be close to the Bayan Lepas International Airport and this would allow the Free Trade Zone’s 471 small and medium enterprises and 117 multinational companies to expand.

“We were told 30% of the companies had wanted to expand but there’s no room for them to grow at the moment.

“SRS Smart City will be able to help these companies expand. The islands will have their own self-cleansing system to prevent erosion and siltation.

“Besides providing attractive housing solutions, there will also be a 5km beach, a 25km coastal park, a 30km waterfront and 283ha of green areas,” he said.

He added that there would be an efficient rail transit system serving the new city.

SRS Consortium is a company formed by public-listed Gamuda Bhd and two local property firms – Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd.

It was appointed by the state in August to come up with a detailed execution of the master plan and engineering designs, and to gather public feedback and obtain all state and federal approvals for each PTMP component.

Among the components of PTMP were trams, monorail, light rail transit lines, e-bus, bus rapid transit, pan-island expressway, a catamaran system and a RM100mil highway interchange upgrading project.

Szeto said they had spent RM10mil to carry out feasibility studies on PTMP.

Penang Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the project was still “a work in progress”.

“The state government has not given any approval yet. Submission of detailed environmental impact assessment will only be done in June next year.

“We will be doing more than the legal provision requires. We will engage various stakeholders next month with a similar presentation. This will allow us to finetune the project after getting feedback,” he said.


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UPCOMING: Butterworth / Nova Success Development Sdn. Bhd.

November 28th, 2015 No comments

A newly proposed mixed development by Nova Success Development Sdn. Bhd. at Butterworth, Penang. It is located next to Jalan Bagan Dalam exit from Butterworth Outter Right Road (BORR), only a mere minutes drive away from the upcoming Penang Sentral.

This development consists of the following components, to completed in multiple phases:

  • 6 units of 2-storey shop offices
  • 31-storey condominium (131 units)
  • Commercial building with hotel and 2 block of service apartments (380 units).

This project is still pending for approval. Details to be available upon project launch.

Project Name: (to be confirmed)
Location: Butterworth, Penang
Property Type: Mixed development
Indicative Price: (to be confirmed)
Total Units: 131 (condo), 380 (service apartment)
Developer: Nova Success Development Sdn. Bhd.

Location Map:

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Penang Global City Centre – A project that ended in a whimper

November 28th, 2015 No comments

1422_6_1000-asymptote-pgcc-6When the Penang Global City Centre (PGCC) was launched in 2007, it was touted as a major game changer to Penang. But it ended in a whimper partly because of its sheer scale which was not feasible.

The RM25bil PGCC project was to have been undertaken by Abad Naluri Sdn Bhd, an associate company of Global Oriental Bhd (formerly known as Equine Capital Bhd).

In return for developing PGCC, which was to be located on the Penang Turf Club (PTC) land in Batu Gantong, Abad Naluri was supposed to have built a new turf club in Batu Kawan – on Seberang Prai as a replacement.

According to reports, Abad Naluri submitted its tender to build the new race course for the PTC at a 250-acre site at Batu Kawan in May 2002.

In 2003, a preliminary agreement was entered into between PTC and Abad Naluri. The agreement would see Abad Naluri paying advances totalling some RM10mil to PTC to acquire the PTC land in Batu Gantong for around RM488mil.

The deal was supposed to see Abad Naluri building a race course in Batu Kawan for RM375mil, which it was supposed to deliver to PTC by 2007. The balance was supposed to be paid in cash to PTC.

Abad Naluri was given an extension of two years to complete the project after the initial deadline was not met.

In January 2004, the Penang Development Corp (PDC) entered into a master agreement to sell eight parcels of land in Batu Kawan, totalling over 1,000 acres, to Abad Naluri.

One parcel, measuring 300 acres, was slated for the new race course site. The purchase price for this parcel was said to be RM46mil.

In May, an agreement was entered into between PTC and Abad Naluri for the sale of the land in Batu Gantong on the island at RM43 per sq ft.

By 2005, layout plans for the Batu Kawan race-course were approved. In September the following year, Abad Naluri submitted applications for planning permission of PGCC on the PTC land.

In October 2007, then prime minister Tun Abdullah Ahmad Badawi launched the PGCC project despite the acquisition of the PTC land yet to be completed and work on the Batu Kawan race-course yet to begin.

Following the new state government taking over after the March 8, 2008 general election, the proposed PGCC project failed to take off.

Global Oriental’s stake in Abad Naluri had since been sold for RM2mil cash to Kiara Ikhtisas, a privately-held outfit in October 2008.

In July 2009, PTC terminated its agreements with Abad Naluri on grounds that the latter had failed to pay liquidated damages for delays in building the new turf club in Batu Kawan.

As for Global Oriental’s interest in Batu Kawan, in 2002 when turf club transfer was first conceived, PDC had agreed to sell 750 acres in Batu Kwan to Abad Naluri at RM3 psf. Out of the 750 acres, 300 acres had been earmarked for the development of a new turf club.

When the turf re-location did not take place, there were fresh negotiations between Abad Naluri and PDC.

In 2011, it was reported that a ‘compromise’ was reached between the two parties.

Based on a 2011 annual issued by Global Oriental (then known as Equine Capital) on March 21, 2011, Abad Naluri entered into a suplemental agreement with PDC to acquire 145 acres in Batu Kawan upon fulfilment of certain conditions.

In 2011 also, Equine Capital acquired the rights to develop 126.04 acres in Batu Kawan from Abad Naluri for RM16.7mil. It is earmarked for mixed development.

The compromise allowed PDC to undertake the development of a 1,400-acre industrial park in Batu Kawan.


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