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Penang land deals transacted in 2019

September 19th, 2020 Leave a comment 中文版

Today land costs account for about 30% of any property development cost. If you are wondering how much does the land costs in Penang, below is an infographic that shows several land deals transacted in 2019 with a value of more RM10 million. This report is based on data published by The National Property Information Centre (NAPIC) for the year of 2019.

penang-land-deals-2019

Land transacted at more than RM10mil in 2019

 

An 11,000 sq.ft. commercial land with pre-ware building near Penang Times Square was the most expensive land transacted in 2019 at RM12mil, which is about RM1,080 per sq.ft. Technically, one piece of land with a size of 1 car park lot would cost around RM125k. It is also 72 times more expensive than the development land in Tasek Gelugor.

The 144-acre freehold land in Tasek Gelugor was acquired by Scientex Bhd at a cost of RM14 per sq.ft, for the development of 2,332 affordably priced double-storey terrace houses.

 

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  1. Sammy
    September 20th, 2020 at 07:14 | #1

    Everything in Penang is delaying ?
    The reclaimed land off the Gurney Wharf foreshore was already handed over to the state government last year and yet nothing is done ?

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