Penang Property Talk

The proposed Penang undersea tunnel project report submitted for review by the technical consultant is over 90% complete and there’s no plan to stop the projects. We have also touched on the Penang Sky Cab cable car project, which will link Seberang Prai to the island.

In the interview below, Penang Chief Minister shares with us the latest status of the undersea tunnel and sky cab projects.

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Penang CM speaks to Penang Property Talk on Vision 2030

All parties should stop the polemic over the issue of unsold luxury properties in the country as they are being promoted abroad under the procedures and conditions of Malaysia My Second Home (MM2H) programme.

Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad Baharuddin Shah (pictured) said MM2H is not a new programme as it has been established since 2002.

“There is a confusion…the glut of luxury houses is not being promoted under the Home Ownership Campaign (HOC) but through MM2H…the people need not worry about it as MM2H will not affect house ownership by them.

“The primary focus of the ministry is still on providing affordable homes for Malaysians… this is our commitment,” he told reporters after opening a Merdeka @Komuniti programme for Terengganu Chinese community at Kampung Cina here last night.

About 400 members of the Chinese community in Terengganu attended the function organised by the Information Department to highlight the National Month celebrations.

On Thursday, Housing and Local Government Minister Zuraida Kamaruddin in a statement clarified that the sales of houses priced more than RM1 million would be carried out under the MM2H campaign and not through HOC.

She said the MM2H programme is open to all foreigners while China and Hong Kong were singled out as the price of properties there are very high.

With the explanation, Raja Bahrin hopes the people would not be easily influenced by propaganda of opposition who are taking the opportunity to create confusion.

Source: EdgeProp.my

Penang’s two local councils will be increasing the assessment rates on all properties within the state in 2020.

State local government, housing development and town and country planning committee chairman Jagdeep Singh Deo said the hike was due to higher spending costs.

“It has been 15 years since we reviewed the assessment rates and we are reviewing it now in accordance with the provisions of the law,” he told a press conference here today.

He said the Penang Island City Council (MBPP) and Seberang Perai Municipal Council (MPSP) have been recording an annual deficit budget since 2016.

Jagdeep did not disclose the percentage of increase in the rates when asked, saying instead that the hike will depend on the property type, location and size.

But Chinese newspaper Sin Chew Daily had previously reported that the rates could rise as much as 30 per cent.

The properties that will be reviewed total 322, 549 on the island and 327,401 on the mainland.

Notices on the increase will be sent to all property owners this month and property owners are given until October 14 to submit appeals against the new rates.

Jagdeep said the higher assessment rates will mean additional revenue of RM54,338,822 for MBPP and RM39,743,077.02 for MPSP next year.

However, he added that the extra revenue will barely be able to cover the expenditure of both councils.

“MBPP will be implementing 31 infrastructure projects between 2020 and 2022 at a cost of RM179.03 million so the extra RM54 million from the assessment rate increase does not cover this full sum,” he said.

Similarly, MPSP will be implementing 46 project between 2020 and 2022 at a cost of RM169.74 million which is more than the extra RM39 million from the increase in rates.

He said MBPP saw an increase in overall expenditures by RM196.391 million or 291 per cent in 2019 compared to 2005 while MPSP saw an increase of RM107 million or 784 per cent compared to 2005.

Jagdeep said that Penang’s assessment rates are still the lowest nationwide in comparison to properties in Kuala Lumpur, Petaling Jaya, Shah Alam, Subang Jaya and even Kota Kinabalu.

Source: MalayMail.com

All Seasons Park, is a completed landmark development in Ayer Itam, ushering in a contemporary modernity that subtly resonates with the busy, colourful vibe of this well-known Penang suburb. This integrated development promises a complete lifestyle experience to those born and bred in Penang, who may be returning to their roots, as well as new comers to the community.

The development is anchored by a thriving 3-level podium “strip mall” – All Seasons Place, that include key tenants such as Hero Market, MR DIY, Maxis, Guardian, Sushi King, Summer Bakery, Starbucks and Black Ball.

Prominently located along Lebuhraya Thean Teik, a major road on the island city, this residential project is accessible via Lorong Batu Lanchang. It is only a short drive to hypermarkets such as Giant Farlim and Sunshine Hypermarket Farlim.

There are several schools less than 600m away, including Chung Ling High School, SMK Air Itam, SK Seri Indah, SJK Chiao Nan, SK Batu Lanchang and others.

Limited freehold penthouse units are now up for grab from the developer. The available units feature a spacious built-up size of at least 1,602 sq.ft., with starting price from RM825,000 onwards.

For more details, please contact Belleview Group at 016-422 6006 / 04-229 1999.

Penang’s first LRT project has been approved by federal government on 16 July 2019, with 30 conditions for the state to comply. A three-month public inspection process started Aug 19 to obtain the views of Penangites. The public can now find out more about the LRT project at four fixed locations during office hours, namely, Komtar, Seberang Prai Municipal Council in Perda, Land Public Transport Agency (LPTA) at One Precinct, here and the LPTA headquarters in Putrajaya.

Hear from Penang Chief Minister on the 2,924 responses received in four display centre.

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Penang CM speaks to Penang Property Talk on Vision 2030