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Property News

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New Thean Teik Highway – Lebuh Bukit Jambul link ahead of schedule

Work on Jalan Bukit Kukus, the alternative road linking Lebuhraya Thean Teik in Bandar Baru Air Itam to Lebuh Bukit Jambul in Penang is progressing slightly ahead of schedule. The project, which began on Jan 15 last year, is slated to be completed on Jan 14, 2019. Penang Island City ... Read More
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PR1MA to develop new township at Teluk Kumbar

Perbadanan PR1MA Malaysia (PR1MA) is planning to develop two new townships in Teluk Kumbar, Penang and Teluk Intan, Perak. Its chief executive officer Datuk Abdul Mutalib Alias said the ongoing projects, however, are subject to approval by the respective state governments. “We will announce both projects to the public once ... Read More
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IKEA breaks ground in Batu Kawan today!

Cheers and Swedish meatballs liven up Batu Kawan today as IKEA marked the start of construction for its first store in Northern Malaysia. IKEA co-workers, business friends and government officials came together for a groundbreaking ceremony at the site for IKEA Batu Kawan, Penang. The event gave visitors a taste ... Read More
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Residents divided over coastal route

Penangites alothe island’s north coast seem divided over the North Coastal Paired Road (NCPR) project. Some residents in Tanjung Bungah want the road plan scrapped but many in Batu Ferringhi and Teluk Bahang want it as soon as possible. “Do you know what it was like after the recent big ... Read More
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Call to scrap proposed North Coast Paired Road

Tanjung Bungah residents want the proposed new road from Teluk Bahang to their neighbourhood scrapped after realising it entails deforestation and construction on slopes with gradients steeper than 25 degree. Through the Tanjung Bungah Residents Association (TBRA), 400 of them signed a petition against the North Coastal Paired Road (NCPR) ... Read More
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Seri Tanjung Pinang Phase 2A reclamation to complete in 2H 2018, first launch in 2019

Eastern & Oriental Bhd’s (E&O) net profit increased 6.5-fold to RM21.24mil for the first quarter of the financial year ending March 31, 2018 from RM3.24mil in the corresponding period last year. The lifestyle property developer attributed its earnings growth to its property segment, which witnessed higher revenue recognition from ongoing ... Read More
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Customs Dept quarters demolished to make way for PR1MA

Residential units at the former Customs Department quarters in Jalan Kampung Kastam here are being demolished to make way for a 1Malaysia Housing Project (PR1MA) effort. A statement by the Office of the Land and Mines Department Director General said PR1MA homes will be built on the 7.2ha site. “This ... Read More
Ewein Zenith is developing City of Dreams twin residential blocks in the Seri Tanjung Pinang neighbourhood.

Ewein scraps plan to buy Penang land from Consortium Zenith

In a filing with Bursa Malaysia on Tuesday, the property developer and sheet metal fabricator said its 60%-owned subsidiary and CZ (previously Consortium Zenith BUCG Sdn Bhd) had mutually terminated their sale and purchase agreement (SPA) for the 4.4252-acre (1.79ha) land in Section 1, Tanjung Pinang. They also agreed to ... Read More
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PM expresses government commitment over affordable housing

Prime Minister Datuk Seri Najib Abdul Razak today expressed the government commitment to continue to focus on providing more affordable housing for the low- and middle-income groups. He said the concept of comprehensive and holistic development was most necessary to ensure that these groups had the capacity to own equity ... Read More
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Housing problems: ‘Affordable’ but beyond reach

What passes for affordable housing in Malaysia is “not affordable”, said Bank Negara Malaysia (BNM) governor Datuk Muhammad Ibrahim. “Even the World Bank has characterised our houses as severely unaffordable. “Last year, only 35% of the new housing supply in the market were affordable, and the year before that, the ... Read More