The Penang Island City Council (MBPP) has introduced the MBPP Strata Incentive, a new financial assistance programme aimed at helping low-cost and low-medium cost strata residential schemes manage their buildings and carry out essential maintenance works.

The initiative, announced by MBPP Mayor Dato’ Ir. A. Rajendran, comes after the council’s Commissioner of Buildings (COB) Department identified recurring challenges faced by many strata communities, including difficulties in establishing Joint Management Bodies (JMBs) or Management Corporations (MCs), as well as insufficient funds for routine maintenance and emergency repairs.

According to Rajendran, poor collection of maintenance charges has left many JMBs and MCs struggling to finance critical expenses such as lift repairs, plumbing works, water tank maintenance, utility bills and other urgent common property repairs.

To address these issues, MBPP has allocated RM50,000 annually for the programme, with eligible applicants able to receive a one-off grant of up to RM10,000, depending on the approved scope of work.

The incentive covers two key areas: management-related expenses, including the establishment of JMBs or MCs and the organisation of Annual General Meetings (AGMs) or Extraordinary General Meetings (EGMs), as well as emergency maintenance and repair works involving common property in accordance with the Strata Management Act 2013 (Act 757).

Eligible applicants include JMBs, MCs, property management agents and parcel owners. However, the incentive is limited to private low-cost and low-medium cost strata developments with an original purchase price of RM100,000 or below, excluding mixed developments.

Applicants must also meet several eligibility criteria. The strata scheme must already have an active JMB or MC, achieve at least a 60% assessment tax payment rate among registered parcel owners based on MBPP records, and submit an updated list of owners or purchasers as part of the application.

To ensure proper use of public funds, successful recipients will be required to submit reports detailing the repair or replacement works carried out under the approved grant. Applications for subsequent funding will only be considered after a five-year interval from the date of the previous approval.

The MBPP Strata Incentive will take effect on 1 January 2027, in line with the council’s approved 2027 budget.

The initiative is expected to ease the financial burden on older strata communities, improve the upkeep of common facilities, and promote better building management for thousands of residents living in affordable high-rise housing across Penang Island.

A 2.20-acre parcel of land within the Butterworth Deep Water Wharves (BDWW) has been earmarked for a new logistics and commercial development, following the launch of a Request for Proposal (RFP) by Penang Port Sdn. Bhd. to identify a long-term developer and operator for the site.

Located within the operational boundaries of Butterworth Deep Water Wharves, the 8,897.35 sq m (95,770 sq ft) site currently accommodates an existing warehouse and open storage yard. The land is expected to be redeveloped into a facility that supports port-related activities, further strengthening the role of Butterworth as a key logistics gateway in Northern Malaysia.

According to the RFP, the successful proposer will be granted a sub-lease of up to 27 years to develop and operate the site. While the final development concept will depend on the selected proposal, Penang Port envisions uses such as logistics operations, warehousing, value-added services and other commercial activities that complement cargo handling and regional trade.

One of the site’s key advantages is its location within the Butterworth Deep Water Wharves, offering direct access to port infrastructure and efficient connectivity to Penang’s major industrial corridors. The location is approximately 9km from the Prai Industrial Area, 18km from Penang Science Park, 23.2km from the Bayan Lepas Free Industrial Zone and 31.5km from Kulim Hi-Tech Park.

The site also falls within a Free Commercial Zone (FCZ), subject to regulatory approvals and applicable requirements. This designation is expected to enhance its attractiveness for companies involved in import-export activities, regional distribution, supply chain management and value-added logistics services.

As Penang continues to strengthen its position as a regional hub for semiconductor manufacturing, electrical and electronics industries, and advanced manufacturing, demand for modern logistics infrastructure has been steadily increasing. The proximity of the proposed development to major industrial clusters could help improve cargo movement and supply chain efficiency for businesses operating throughout the Northern Corridor.

The proposed project also reflects the continued evolution of Butterworth Deep Water Wharves beyond its traditional role as a cargo handling facility. Strategic investments in logistics infrastructure within the port are expected to support higher cargo throughput while creating opportunities for businesses that rely on efficient multimodal connectivity between sea, road and rail transport.

According to the RFP schedule, a briefing and site visit will be held on 30 June 2026, with proposal submissions closing on 30 July 2026.

PROPOSED REDEVELOPMENT SITE:

A newly proposed commercial development has been planned along Jalan Utama in George Town, occupying a relatively compact site of approximately 0.3 acres. The site is located near the George Town Remand Prison and within close proximity to City Stadium Penang.

The development will comprise a 27-storey office tower featuring 136 office suites. Given the limited land size, parking provision will be accommodated through an automated mechanical car parking tower. In addition, rooftop facilities are planned as part of the development.

The project is still pending approval, and further details will be made available upon its official launch.

Project Name: (to be confirmed)
Location : George Town
Property Type : Commercial (office suites)
Land Area: 0.3 acres
Total Units : 136
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : (Follow us to find out more)

DISCLAIMER: This article is solely based on research done using publicly available data at the time of publication. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

Image source: Kwong Wah Yit Poh

Foreshore Residence, one of Penang’s most strategically located affordable housing developments, has been completed, with homeowners set to receive the keys to their new homes during an official handover ceremony on Aug 31.

Located along the Jelutong waterfront, the development stands out for offering affordable homes in the heart of George Town, where land values have reached nearly RM1,000 per sq ft. Despite its prime location, the Rumah MutiaraKu units were priced below RM300,000, making city-centre homeownership more attainable for Penangites.

State Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu described the project as one of the state’s premier affordable housing developments, citing its strategic location, affordability, accessibility and scenic sea and city views. He added that the development’s connectivity will be further enhanced by the proposed Penang Light Rail Transit (LRT) line.

The Foreshore development comprises two residential components. Foreshore Residence features 402 fully sold Rumah MutiaraKu Category C3 units measuring 900 sq ft, together with 80 fully sold Category C2 units sized at 800 sq ft. Residents will enjoy a dedicated facilities floor, five lifts and a low-density design with just 16 units per floor.

The development also includes 192 serviced apartments, of which about half have been sold. Available in three layouts ranging from 689 sq ft to 1,187 sq ft, the serviced apartments come with tandem parking and may be legally operated as short-term accommodation.

In addition, the project incorporates 14 double-storey shop offices, with seven units still available for sale.

Sundarajoo said the project had overcome numerous challenges since its inception, including land acquisition and technical issues, through close collaboration between the state government, the developer, consultants and relevant agencies.

The official handover ceremony, themed “Penyerahan Impian”, will take place on Aug 31, fulfilling the dreams of hundreds of homebuyers.

The completion of Foreshore Residence also marks another milestone in Penang’s housing agenda. The state has around 180,000 housing units completed, under construction or in various planning stages, keeping it on track to achieve its target of delivering 220,000 homes by 2030 and expanding homeownership opportunities for Penangites.

Kerjaya Prospek Group Bhd (KPGB) has strengthened its position in Penang through the completion of a strategic investment in Aspen Vision Land Sdn Bhd (AVL) and the acquisition of full ownership of Tanjung Bungah Development Sdn Bhd (TBD), both entities linked to Aspen (Group) Holdings Ltd.

In a filing with Bursa Malaysia, KPGB said its wholly owned sub-subsidiary, Kerjaya Prospek Ventures Sdn Bhd (KPV), has completed the subscription of new shares in AVL, giving it a 49% stake in the company. Separately, KPV has entered into a share sale agreement with Aspen Vision Tanjung Sdn Bhd to acquire the remaining 40% equity interest in TBD for RM80, resulting in TBD becoming a wholly owned subsidiary within the KPGB Group.

The move follows an earlier joint venture arrangement established in July 2025 to jointly develop two freehold parcels in Tanjung Bungah under Lot 2601 and Lot 3603. The land transaction, valued at RM117 million, together with estimated development expenditure of about RM124 million, represented 10.91% of KPGB’s net assets based on its audited financial statements for the year ended Dec 31, 2024.

The site was previously proposed for HH Park and Residence, a mixed development by Aspen comprising residential and commercial components. The project, which had been unveiled several years ago, has yet to materialise. With KPGB now taking full control of Tanjung Bungah Development Sdn Bhd following the termination of the earlier joint venture and shareholders’ agreements, attention is likely to shift to the group’s plans for the strategically located parcels overlooking the northern coast of Penang.

DEVELOPMENT SITE: