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economic recovery for property

Economic Recovery Plan for Property Sector

To stimulate the property market and provide financial relief to home buyers, here are the incentives announced by Prime Minister today: 1. Home Ownership Campaign (HOC) to be reintroduced: Stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 to ... Read More
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Penang to reveal home ownership package next week

The Penang government is set to announce a housing ownership package next week to ease home ownership in the state. State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the package – dubbed Housing Ownership Campaign Package (Penang edition) 2020 – has two main objectives ... Read More
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SITE PROGRESS: Residensi Permatang Pauh (Jun 2020)

About Residensi Permatang Pauh Affordable housing undertaken by Excel Focus Properties Sdn. Bhd. It is strategically located within the established township of Permatang Pauh, only about 500 meters away from Butterworth-Kulim Expressway. Neighboring communities include Taman Naluri, Taman Naluri Ria and Taman Janggus Jaya. Find out more about Residensi Permatang ... Read More
cable car cancelled

Federal Govt cancels RM100mil Penang Hill cable car project

The Federal Government has withdrawn its RM100 million allocation for the development of a cable car system on Penang Hill. Chief Minister Chow Kon Yeow expressed his disappointment over the Federal Government’s decision. “The withdrawal of allocation would not only affect the continuity of the hill’s development plan, but also ... Read More
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Value of residential overhang down in Q1

The value of completed and unsold properties from all segments dropped 5.3% year-on-year to RM18.91bil in the first quarter of 2020, despite more units being launched during the period, according to the National Property Information Centre (Napic). According to Napic, a total of 127,604 units were launched in the first ... Read More
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SITE PROGRESS: Queens Residences (May 2020)

About Queens Residences Luxury waterfront development by Ideal Property Group at Bayan Bay with gross development value (GDV) of RM600mil. This development is located in front of BayStar Condominium, just stone’s throw away from Queensbay Mall. Find out more about Queens Residences ... Read More
valdor-bridge

Bridge to Batu Kawan will open in July

The construction works of the bridge in Valdor, connecting Bukit Tambun and Batu Kawan industrial areas, are scheduled to complete next month. Chief Minister Chow Kon Yeow said the bridge would be open in July. “The bridge is an infrastructure that can help to spur future economic growth and development in ... Read More
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GBS@Mahsuri expected to be completed by September

The office space in the new GBS@Mahsuri has been fully snapped up by tenants. Penang Development Corporation (PDC) general manager Datuk Mohd Bazid Abdul Kahar said the construction works of the two-storey 80,000 sqft building would be completed in September this year. “It was initially scheduled to complete in April ... Read More
PIA Expansion delayed

Penang airport expansion likely delayed by a year

Chief Minister Chow Kon Yeow says the planned expansion of the Penang International Airport (PIA) might be delayed by six months to a year due to the Covid-19 outbreak and faltering airline industry. Speaking in a press conference at the airport, he said the expansion work was supposed to begin ... Read More
make-money-from-property

Government likely to reintroduce HOC

The government is expected to bring back the Home Ownership Campaign (HOC) as part of the country’s economic recovery plan in the second half of the year. The proposal to reintroduce the HOC was made following meetings involving the Ministry of Housing and Local Government (KPKT), the Ministry of Finance ... Read More