The Housing and Local Government Ministry is in the final stage of drafting the proposed Real Property Development Act, a new law aimed at strengthening the regulation of Malaysia’s property sector.

Housing and Local Government Minister Nga Kor Ming said the proposed legislation would expand regulatory oversight beyond residential developments to include selected commercial property projects, while maintaining a balanced approach that safeguards both industry players and consumers.

Speaking at the AREC Forum 2026: Rethinking Real Estate: Housing With Hearts, Nga said the proposed Act is one of five key housing reforms introduced by the ministry to improve governance, transparency and efficiency within the property sector.

The other initiatives include the electronic Sale and Purchase Agreement (eSPA), the Housing Integrated Management System (HIMS), the National Property Data System, and regulated housing development accounts. Collectively, these measures are intended to enhance oversight of property developments and support the government’s goal of eliminating sick and abandoned housing projects by 2030.

Nga also highlighted the progress of the Housing Credit Guarantee Scheme (SJKP), which has helped more than 95,000 first-time homebuyers secure financing. Of the RM40 billion allocation under the scheme, RM22 billion has been utilised, with participation from more than 17 financial institutions. The ministry is targeting 100,000 beneficiaries under the programme.

Malaysia’s homeownership rate currently stands at 77%, and the government aims to increase it to above 80%. Nga described homeownership as not only providing shelter for families but also serving as a means of wealth creation and long-term financial security.

The forum also featured China’s Minister of Housing and Urban-Rural Development Ni Hong and Sime Darby Property Group managing director and chief executive officer Datuk Seri Azmir Merican. The session was moderated by United Nations Human Settlements Programme (UN-Habitat) executive director Datuk Seri Maimunah Mohd Sharif.

The Penang government has approved temporary land title extensions for 217 landowners in Kampung Valdor, extending their leasehold tenure to 99 years. The approval letters were presented during a ceremony at SJKC Kampung Valdor, attended by Chief Minister Chow Kon Yeow and Penang Trade and National Unity Committee chairman Goh Choon Aik, who is also the Bukit Tambun assemblyman.

According to Chow, the lease extension provides greater legal certainty for homeowners while enhancing the long-term value of their properties. He said the move is expected to make inheritance and estate planning easier, improve access to financing, and support more sustainable development within the village. He added that the initiative reflects the state government’s commitment to strengthening land ownership security and improving residents’ quality of life, in line with the Penang2030 vision.

The milestone follows a series of engagement efforts by the state government. A dialogue session with Kampung Valdor residents was held in January 2025 to explain the 99-year lease extension policy and the premium discount incentives available under the programme. This was followed by the opening of dedicated service counters at the Kampung Valdor multipurpose hall in May and June 2025, where residents received assistance with their applications.

Chow said the close cooperation between the Batu Kawan parliamentary service centre, the Bukit Tambun state constituency service centre, and the South Seberang Perai District Land and Mines Office helped simplify the application process and accelerate approvals. The collaborative approach, he noted, reduced administrative complexity and enabled residents to complete the necessary procedures more efficiently.

Asia Green Group has unveiled The Pier Community, a new lifestyle initiative meant to redefine homeownership through focusing more on community living and wellness. The launch was done at The Pier Sales Gallery on Saturday, together with the introduction of Mid-Term Stay Management Service that the developer describes as the first of its kind in Penang. This new service offers residents a unique way of managing their rental property, bridging the gap between traditional long-term leasing and short-term stays.

According to Asia Green, The Pier Community reflects the group’s philosophy of “Building with Love. Living with Purpose,” transforming The Pier from a conventional residential development into a community platform centred on families, healthy living and meaningful neighbourhood connections. Rather than viewing vacant possession as the conclusion of the homebuying journey, the developer intends to continue engaging residents through wellness programmes, family activities, educational sharing sessions and community events designed to encourage interaction and make better use of the development’s shared facilities.

Speaking at the launch, Asia Green CEO Mei Tan said the company believes the future of property development should extend beyond constructing quality buildings. Instead, she said the focus should be on building communities that can nurture families and provide residents with a better lifestyle. She added that the handover of keys marks the beginning of a homeowner’s journey rather than the end of the developer’s commitment.

A key highlight of the launch is the introduction of the Mid-Term Stay Management Service, in partnership with The Ark Properties. The professionally managed service offers homeowners an alternative to conventional short-term rentals. Instead of managing frequent guest turnovers and daily operations, owners can enjoy a professionally managed solution designed to provide greater convenience, operational efficiency and peace of mind.

Visitors to the launch were also introduced to the newly completed Type A1 Dual-Key Show Unit, which showcases The Pier’s dual-key concept. The layout allows owners to occupy one suite while renting out the other, accommodate extended family members, or lease both units independently, offering flexibility for both owner-occupiers and investors.

Another feature highlighted during the event is the project’s customisable interior furnishing package. Instead of a fixed fully-furnished specification, buyers will have the freedom to change or upgrade some parts of the interior package before its completion by paying the cost difference. According to the developer, such an approach decreases renovation wastage and demolishing works after handover and minimises the time for home occupancy.

The launch event also featured interactive activities, including a DIY Energy Plant workshop and exhibits introducing the project’s green building concepts and community-focused design philosophy, reiterating Asia Green’s vision of creating developments that prioritise both quality homes and lasting community value.

Visit the The Pier Sales Gallery in Queensbay or call +604-5102150 to learn more about The Pier and the Mid-Term Stay Management Service.

About Bayan Suite

Mixed development by Mutiara Biopolis Developments Sdn. Bhd. at Bayan Mutiara. Strategically located adjacent to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang Bridge. It is adjacent to The Zen development by Asia Green and neighboring with D’Residence gated communities. It features a 31-storey serviced residence, offering 326 residential units with a 7-storey car parking podium. There will also be 20 units of shop offices located at the ground level.

*Photo taken in July 2026

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Penang Development Corporation (PDC) will take full control of the proposed Batu Kawan Industrial Park 2 (BKIP2) development in Byram after the renewed Request for Proposal (RFP) process failed to reach a successful conclusion.

Chief Minister Chow Kon Yeow said the decision was approved by the PDC Board of Directors on July 20, paving the way for PDC to develop its approximately 1,300-acre landbank in phases.

Speaking after attending the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Region Annual Luncheon Dialogue, Chow said the phased approach would allow PDC to release around 200 acres of industrial land each year to meet demand from investors and other stakeholders.

He explained that land prices for BKIP2 would be based on current market values, noting that acquisition costs today are significantly higher than those for the original Batu Kawan Industrial Park, where land was acquired in the early 1990s at much lower prices.

According to Chow, the phased development strategy is intended to ensure Penang maintains sufficient industrial land reserves to support investment demand over the next three to five years.

He also stressed that the proposed bridge connecting the development area must be completed to support the overall growth and accessibility of the new industrial park.

BKIP2 is expected to play an important role in expanding Penang’s industrial capacity as demand for strategically located industrial land continues to grow, particularly in the Batu Kawan growth corridor.