THE Star Property Fair 2012 is back for its 10th year with a more interesting array of programmes.

The Star regional operations manager (north) Chung Chok Yin said the overwhelming public response had contributed to the fair’s 10th edition.

“I hope those who wish to buy houses will obtain useful information from this showcase of prime property projects in Penang and overseas,” said Chung.

He added that the property market in Penang was resilient.

He was speaking after the fair’s launching by Star Publications (M) Bhd executive director Tan Sri Kamal Hashim at Star Northern Hub in Bayan Lepas, Penang.

Touted as the state’s premier property expo, the fair will be held at Gurney Plaza and G Hotel from July 12 to July 15.

To date, about 40 developers who are major local and international players in the sector have taken up booths at the fair.

Joining them are several financial institutions and investment companies.

The four-day exhibition will feature property talks and forums conducted by specialists to provide useful information on property investment as well as related issues such as feng shui.

The main sponsor for the fair is IJM Land Bhd.

A special programme titled ‘Star-IJM Contest’ has been lined up for the fair.

Visitors who fill in the form published in the newspapers will be entitled to a lucky dip offering prizes including digital devices and tablets.

A booth will also be set up for those wanting to subscribe to The Star’s newspaper and ePaper bundle.

The fair is open to the public from 10am to 10pm daily. Admission is free.

Source: The Star

GEORGE TOWN: Residents of an estate in Mount Erskine are not satisfied with the compensation offered by a housing developer that bought the land there. It is learnt that the developer had issued a letter of eviction to the residents last month.

Residents association chairman Teh Kim Long, 74, claimed that the compensation of between RM30,000 and RM60,000 offered to the residents, was less than half of the current property value.

“Residents were given the option to accept the money or get a flat with a built-up area of 55.7sq m (600sq ft),” he said, claiming that 62 residents were affected by the development.

Teh claimed the residents wanted to pay the quit rent to the developer but the latter did not want to receive the payment.

“It is stated behind our quit rent receipt that if the quit rent is not paid in six months, the residents would lose their right to voice out their concern and cannot object to any changes conducted by the land owner,” he claimed during a press conference at Pulau Tikus assemblyman Koay Teng Hai’s service centre in Jalan Peirce yesterday.

Teh said that the residents were confused as they are unsure as to who they should pay their quit rent.

“We have engaged a lawyer to collect our quit rent and seek his service to hand over the quit rent to the developer.

“Several residents have paid their quit rent to the previous land owner as they fear they might lose their right,” he said.

Koay said according to the land office, the ownership of the land was transferred to the developer on Jan 5.

“I have also called the developer to convey the wishes of the residents last month,” Koay said.

When contacted, the developer refused to comment on the matter.

Source: The Star

Teluk Bahang Wellness Resort, 5-star Resort & Suite Hotel comprises wellness centre for rejuvenation and cosmetic surgery, unique water themes within and outside hotel, holistic spa, exclusive clubbing and fine dining. It also comes with one stop duty free shopping and a wide rage of guest F&B facilities including sky lobby and restaurant.

Location : Teluk Bahang, Penang
Property Type : Suites and Hotel
Developer : General & Global Assets Sdn. Bhd.

GEORGE TOWN: The Penang Government has denied claims that it is “the darling of developers” at the expense of the public, especially those in need of public housing.

Chief Minister Lim Guan Eng said more stop-work orders had been issued by both the local councils since 2008 compared to previously.

He said this proved that the state government was “more stringent in upholding the rule of law, demanding strict compliance with technical requirements and more unforgiving than Barisan Nasional”.

“Under Pakatan Rakyat, the Penang Municipal Council issued 259 stop-work orders from 2008 till 2012 which is nearly seven times more than the 38 stop- work orders issued for the same period (between 2004 and 2007) under Barisan.

“The Seberang Prai Municipal Council issued 11 stop-work orders from March 2008 until May this year, whereas not a single stop-work order was issued from 2003 till March 2008 by the Barisan government,” he said.

Lim said the state government was business-friendly, provided rules were complied with.

Dismissing allegations that property prices in the state rose due to increased land premiums, he said the land conversion rates were the same as they were under the previous Barisan administration.

He said the rise in property prices was due to rising public confidence in the state government’s competency, accountability and transparency administration as well as market forces.

“To ensure sufficient affordable housing, the state government has allocated a minimum RM500mil to build 18,000 affordable homes.

“Unlike in Johor, where a bungalow in Iskandar costs RM3mil and can be bought by foreigners including Singaporeans, Penang has imposed a limit on all property purchases by foreigners beginning July 1,” he said in a press release yesterday.

Lim said he was responding to claims allegedly made by Barisan against the state government recently.

Source: The Star

Scott Residence, a residential development by Red Rock Hotel Realty, strategically located along Jalan Macalister. This 22-storey building comprises 62 residential units with size ranging from 2,035 sq.ft. onwards.

Property Project : Scott Residence
Location : Macalister Road, Georgetown, Penang
Property Type : Luxury Condominium
Tenure : Freehold
Built-up Area: 2,035.ft. onwards
Total Units : 62
Indicative Price: RM560psf onwards
Developer : Red Rock Hotel Realty Sdn. Bhd.