Houses in Malaysia are considered “seriously unaffordable” by international standards, a Bank Negara Malaysia official said. According to the median multiple methodology developed by Demographia International and recommended by the World Bank, United Nations and Harvard University, a house is deemed affordable if it is priced not more than three ... Read More

About Sanctuary Ridge The 4th phase of residential development at Permatang Sanctuary by IJM in Alma, Bukit Mertajam. Strategically located within an established neighbourhood, about 15-minute drive from Juru Auto-City and Penang Second Bridge. It is about 2km away from AEON Mall and Tesco Hypermarket. Find out more about Sanctuary Ridge ... Read More

The Penang government has proposed that the price threshold for foreigners to purchase urban high-end properties in the state to be set at RM800,000, compared to RM600,000 announced by Finance Minister Lim Guan Eng during the 2020 Budget. Penang’s Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh ... Read More

About 3 Residence Mixed development by IJM Land at Sungai Pinang. It is strategically located along Lebuh Sungai Pinang 1, easily accessible via Tun Dr. Lim Chong Eu Expressway.  It offers a mix of residential and commercial components, which comprises a 47-storey skyscraper, hotel and shop offices. Find out more about 3 Residence ... Read More

Sectional handover of the 131.09-acre Gurney foreshore reclamation project has started this month with the first eight acres of land handed over to the Penang government on Oct 7. The full handover is scheduled to be completed by mid-September next year (2020), barring any unforeseen circumstances. In accordance to the ... Read More

The Penang government will hold a discussion on the Federal Government’s proposal of reducing the minimum threshold for foreign property purchases to RM600,000. State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state executive councillors would discuss the issue before making a formal announcement. “Let ... Read More

Of 16,140 feedback received on the proposed light rail transit (LRT) project for Penang, only 2.35% objected. Chief Minister Chow Kon Yeow said the feedback were obtained through a questionaire in conjunction with a public display put up on Aug 19 on the proposed project. He stressed that the state ... Read More

A total 56 development projects under the PR1MA Corporation Malaysia (PR1MA), valued at RM9.98 billion have been cancelled, the Housing and Local Government Ministry (KPKT) said. The ministry, in a written reply published in the Parliament website yesterday, said the amount was part of the 131 projects that had earlier ... Read More

The Penang government is in the midst of studying a proposal to build a cable car project from the recreational park in Penang Botanic Gardens to The Habitat in Penang Hill. Chief Minister Chow Kon Yeow said the proposal was to build the cable car alignment from Rifle Club at ... Read More

The Penang government has reminded developers of the importance of building affordable homes following the supply overhang of high-end condominiums and apartments. “When they build houses worth millions which people cannot afford, an overhang is caused and the government has to come up with a new policy to address it ... Read More