Archive for the ‘Property News’ Category

Homes for ideal living Fiera Vista condo has a full range of sports and recreational facilities

July 7th, 2011 No comments
Prime location: Teh showing the project models of Fiera Vista Condominium at his office at Krystal Point Corporate Park.

IF you are looking for an ideal home which promotes healthy living, then check out the Fiera Vista Condominium at the coming Star Property Fair 2011.

The latest project by Ideal Homes Properties Sdn Bhd located along Jalan Tun Dr Awang in Bayan Lepas, Fiera Vista boasts of having comprehensive sports and re- creational facilities to complement an energetic and healthy lifestyle.

Its sales and marketing manager Teh Yeow Jin said besides a swimming pool, jacuzzi, half basketball court and children’s playground, other facilities available include rock climbing, badminton court and a gym.

“This is a testimony of our commitment to providing a healthy living environment for residents investing in our project,” he said.

Teh said each of the 470 units features a semi-detached and bungalow concept, with two types of built-up area of 1,450 sq ft (135 sq m) and 1,650 sq ft (153 sq m).

He said each unit with a starting price of RM478,000, was deemed affordable, considering the pro-ject’s prime location which is close to the bustling Bayan Baru township.

“The four blocks of buildings are 16-storey high each and they are located amidst greenery to invoke a sense of peace and calm without compromising on current lifestyles,” he added.

Construction for the freehold residential project is scheduled to start end of the year.

Teh said the project was open for registration during the four-day property fair, adding that they had received thousands of enquiries for the project. For details, call 04-6456888.

He said besides Fiera Vista, limited units of 1-World and 1-World 2 would also be put up for sale during the fair.

Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to 24.

To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.

The RM30,000 worth of pri- zes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.

The fair, to be open to the pu-blic from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Penang. Admission is free.

For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).

SOURCE: The Star

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New sectors to propel economy investPenang confident of the state overcoming stiff competition due to its values

July 7th, 2011 No comments

FIVE new industrial sectors have been identified by investPenang for Penang to take advantage of the opportunities in the knowledge-based economy.

They are information communications technology (ICT) for software engineering and creative multimedia, light-emitting diode (LED) lights industry, the medical devices, aerospace and solar/photovoltaic industries.

Speaking to young entrepreneurs from the Associated Chinese Cham-bers of Commerce and Industries Malaysia (ACCCIM) recently, investPenang executive chairman Datuk Lee Kah Choon said the areas have the potential to drive Penang forward in the globalised era where there is stiff competition for highly skilled labour, technology and capital.

With the proposal to establish a Multimedia Super Corridor (MSC)-status cyber city in Bertam and Batu Kawan, coupled with the state’s ability to attract RM12.2bil worth of investments last year, the move to position Penang well for the knowledge-economy was steadily progressing, Lee said.

“Our values as a top destination for investments are having the right people, the right costs and creating the right business environment,” he said when delivering a talk on ‘Emerging Sectors in the Penang Manufacturing Indus-try.’

Earlier, ACCCIM president Tan Sri William Cheng said it was important that young entrepreneurs understood how the global markets functioned which would help them in their business.

Property consultant Michael Geh, who is the Raine & Horne Inter-national senior partner, said a thri-ving tourism sector boosted with a growing manufacturing industry has fuelled the real estate market in Penang.

He noticed that young entrepreneurs had begun to invest in the mid-to-high end residential and commercial property in the past two years in Penang.

“With the state’s economy performing better, the demand for houses has increased and because the state is also a top tourist destination, Penang has attracted many foreign property buyers under the Malaysia My 2nd Home programme too,” he said.

The ACCCIM represents some 20,000 Chinese companies and trade associations in the coun- try.

SOURCE: The Star

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CM: Affordable houses vital

July 6th, 2011 No comments

DEVELOPERS in Penang should participate in building affordable housing and adding green spaces.

Chief Minister Lim Guan Eng said when the state requested developers to build affordable housing, it was doing so with moral authority.

?As the sustained demand for property in Penang is indicative of its buoyant economy, we want to ensure that those not in the top earning bracket can also own property.

?To be an international city and a habitat of choice, Penang must have affordable housing,? he said.

?You cannot just be a city for the movers and shakers. It must be a city for all,? he said in a dialogue with the panellists of the Star Property Fair 2011 Roundtable talk held at the Star Northern Hub yesterday.

The state government is building affordable housing units on a 60.7ha site in Batu Kawan, priced from RM72,000 to RM220,000.

?We have established the Penang Housing Board not just to regulate and monitor housing matters in the state, but also to ensure a planned setting for affordable housing that includes green features,? Lim said.

The panellists who participated in the dialogue included DNP Land Sdn Bhd (northern region) general manager K.C. Tan, IJM Properties Sdn Bhd general manager (north) Toh Chin Leong, Ivory Properties Group Bhd deputy chairman and executive director Datuk Seri Nazir Ariff, Lone Pine Group of Companies general manager Mabel Ooi, SP Setia Bhd (north) general manager S. Rajoo, Mah Sing Group Bhd general manager (northern region) Low Eng Hooi, Sunway City Bhd general manager Tan Hun Beng, Henry Butcher Malaysia (Penang) Sdn Bhd director Dr Teoh Poh Huat, and Real Estate Housing Developers Association (Penang) chairman Datuk Jerry Chan.

The roundtable talk was moderated by Star Publications (M) Bhd regional manager (operations) Chung Chok Yin.

Lim said he wanted to leave a legacy as a chief minister who created pockets of green space on the island.

On the rise of land prices in Penang, he said the people?s con-fidence in Penang was one of the reasons for property prices rising.

?Confidence, which is intangible, is even more important than economic numbers.

?There is also the feel-good factor, experienced by the locals and those who live outside Penang,? he said.

?That is why they are willing to invest in Penang,? he added.

Lim said that last year, the total value of property transacted increased to RM3.6bil, up by 36% from RM2.6bil in 2009.

?There was a 57% growth of pro-perty purchased by foreigners from RM96mil in 2009 to RM151mil last year,? he said.

Meanwhile, Star Publications (M) Bhd executive director Tan Sri Kamal Hashim said the Star Pro-perty Fair, which started in 2002, had been growing.

?We started organising the event at the Penang International Sports Arena and since then it has grown larger.

?This year we have 24 booths at the G Hotel and 20 booths at Gurney Plaza, with a total of 34 exhibitors,? he said.

The roundtable talk is a prelude to the ninth Star Property Fair 2011 in Penang that will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.

Organised by The Star in co-operation with Henry Butcher Penang, the fair is open to the public from 10am to 10pm daily and admission is free.

SOURCE: The Star

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In the isle of dreams

July 6th, 2011 No comments

SURROUNDED by lush greenery and blooming aromatic flowers that is bound to capture an oasis of peace and serenity, the development of the Setia Pearl Island will definitely be many property buyers? cup of tea.

Dubbed the Island of Dreams, the project is akin to a tropical island of dreams with magnificent homes and well-designed landscapes, sprawling across 45.56ha (112.6 acres) of the former Pearl Island Country Club in Sungai Ara, Penang.

Property buyers would be spoilt for choice as the project is being touted for its six distinctive isles, namely, the Isle of Life, Isle of Aroma, Isle of Palm, Isle of Connifer, Isle of Discovery and Isle of Views, each with its own special characteristics and landscaping theme which would fulfil both the buyers? wants and needs.

Among the six isles, the Isle of Connifer ? featuring three-storey link houses, semi-detached homes and the four-storey villas, which is better known as the Pearl Villa ? stands out.

With only 35 units available, the Pearl Villa is the cream of the crop as it boasts a swimming pool as well as lift in the four-storey luxury villas.

With a built-up area of 6,577sq ft and a price range starting from RM2.98 million, the villa is definitely a master class development.

The Setia Pearl Island is in a perfect location as it is well located at the heart of modern conveniences linked to a network of roads, bridges and expressways.

The Tun Dr Lim Chong Eu Expressway, Penang Bridge and the upcoming second bridge link from Batu Maung to Batu Kawan will enable easy access to the four corners of the island and mainland.

Meanwhile, landmarks such as the Penang International Airport, Free Industrial Zone, Penang International Sports Arena, shopping complexes, colleges and many more are just a stone?s throw away from Setia Pearl Island.

Apart from that, the architectural design of the project emphasises a relaxing and comfortable lifestyle with green surroundings.

Also available for buyers are clubhouse facilities such as swimming pool, tennis court, ballroom, outdoor jacuzzi and many more.

Touted as Penang?s premier property expo, the fair?s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.

To date, 28 major developers ? representing almost all the big boys in the industry ? along with several financial institutions, have taken up booths in the fair.

The RM30,000 worth of prizes for the ?Surf, Click & Win? contest are sponsored by IJM Land.

The fair, which is open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Penang. Admission is free.

For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).

SOURCE: The Star

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First-time house purchasers to get up to 105% financing

July 6th, 2011 No comments

Datuk Seri Najib Tun Razak launched the 1Malaysia People’s Housing Programme (PR1MA) for first-time buyers to own homes of up to 1,400sq ft.

The Prime Minister said depending on the location, the houses would be priced at between RM150,000 and RM300,000 while the minimum size would be 800sq ft.

He said that buyers, making up those who earn not more than RM6,000 a month, would enjoy financing of up to 105% from selected financial institutions.

“The additional 5% is for insurance and Sales and Purchase legal fees.”

“Also, the stamp duty is exempted as part of the Government’s initiative to lighten the people’s financial burden,” he said at the launch of the programme’s first phase at Precinct 11 here.

Najib said a special corporation, to be known as 1Malaysia Housing Programme Corporation, would be set up to plan and coordinate the programme.

The corporation would be placed under the Prime Minister’s Depart-ment and would be responsible for distributing the houses to eligible recipients.

“An Act governing the new corporation is being formulated and will be tabled in Parliament at the next sitting,” he said.

“It is hoped that this special corporation will propel PR1MA in line with the concept of 1Malaysia, People First, Performance Now,” he said, adding that the scheme was open to Malaysians, including the self-employed and those in the private sector.

Najib said a total of 42,000 houses would be built in 20 strategic locations in the Klang Valley, Rawang and Seremban with eight projects expected to commence this year.

The Government was also identifying locations in other major towns for the programme, he added.

Source: The Star

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