Analysts expect RPGT to increase to 30% in Budget 2014 and pre-GST rush next year
The local property sector may only see a real property gains tax (RPGT) increase in Budget 2014, according to a report by Kenanga Research. It said it was expecting the tax rate to increase to 30% from 15% for properties sold within two years and 15% from 10% for properties ... Read More
More demand for secondary property
Some 70% of residential property transacted in the country today are in the secondary market, while the remaining 30% are newly launched projects. Raine & Horne Malaysia (Penang) director Michael Geh said more people were going after secondary property because of the pricing which ranged between RM72,000 and RM350,000. “This ... Read More
Lim signs for Tg Bungah-Teluk Bahang, Tun Dr Lim Chong Eu Ex’way-Air Itam, Gurney Drive roads
Three expressways to ease traffic flow in the state will be completed before the 6.5km undersea tunnel is ready. This was revealed by Chief Minister Lim Guan Eng after the signing of a preliminary agreement for the construction of a few major traffic-related projects yesterday. Under the state’s comprehensive package ... Read More
Penang Govt to go on with four mega projects
Despite facing severe criticisms over four mega projects totalling RM6.3bil, the Penang Government is pushing forward with the signing of an agreement. Chief Minister Lim Guan Eng said that the agreement would be signed tomorrow with the related companies here. It is learnt that the Environmental Impact Assessment would be ... Read More
Bayan Baru and Bayan Lepas earmarked for BPO development
A TOTAL of 1.7 million sq ft of office space is expected to be built and completed as the new business process outsourcing (BPO) hub in Penang within the next three to five years. Penang Chief Minister Lim Guan Eng said the state government had set aside about 6.88ha of ... Read More
Hunza eyes RM1.4bil revenue from 3 mixed developments
Hunza Properties Bhd expects about RM1.4bil in revenue from its three mixed development projects in Tanjung Bungah, Seberang Perai and Kepala Batas over the next three years. Executive chairman Datuk Khor Teng Tong said Hunza would be focusing on its key property market in the northern region where the group has about 364.2ha ... Read More
House prices up in selected areas only
The Real Estate and Housing Developers’ Association Malaysia (Rehda)’s immediate past president Datuk Ng Seing Liong has ruled out that house prices are increasing by double digits. Reports of rising property prices are not reflective of the entire market situation as prices are increasing only in selected areas due to strong ... Read More
Oct 16 deadline for submission of tenders to build 700 affordable high-rise units in Teluk Kumbar
THE tender to build 694 affordable high-rise units in Teluk Kumbar, Penang, is now open. The project by Penang Develop-ment Corporation Properties Sdn Bhd (PDCP), which is the state government’s construction arm, is open to local contractors for bidding. PDCP chairman Wong Hon Wai said the proposed site for the ... Read More
Second Penang bridge to be ready on Nov 8
The second Penang bridge is scheduled to be completed on Nov 8 as agreed between the concessionaire, Jambatan Kedua Sdn Bhd (JKSB), and the Federal Government. JKSB public relations and communications deputy manager Azizi Azizan said the bridge was initially expected to be completed in September, two months ahead of ... Read More
Company set up by ex-directors and executives of S P Setia plans RM30bil projects
Group to launch various developments on 1,214ha land bank, focusing on Klang Valley, Johor and Penang Eco World Development Sdn Bhd, a company set up by former directors and executives of S P Setia Bhd, is looking to launch projects with a gross development value (GDV) of RM30bil on 1,214ha of ... Read More
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- PM Interested ... ...Phoebe on The Cube
- @Islander 1 hour in penang traffic could've been 15mins in good location? Why spend 1...Krie on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
- @Krie PICC &Queens as well. Mention location like a super prime but density over 2000+....AG Zen on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
- @babyfong speculator or no speculator. at least don't daydream and talk nonsense like high density...WC Ong on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
- @WC Ong I think you are forgetting not all home owners are speculators. I believe...babyfong on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
- PM Interested ...JO on UPCOMING: Sungai Nibong / Bayan Capital Sdn. Bhd.
- PM Interested ...JO on AFFORDABLE: Pantai Jerjak / PDC Properties Sdn. Bhd.
- @Krie Location means almost nothing in Penang, within 1hour of traffic jam u can go...Islander on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
- @WC Ong I don't bother replying to him. The moment he talk about LOCATION, i...Krie on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
- @Beng Why are you writing nonsense. There's almost no debate, high density apartment are just...WC Ong on Penang optimistic about achieving target to build 220,000 affordable homes by 2030
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- Affordable Housing (Penang Island)
- Butterworth Arena
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- Escape Penang – Eco Theme Park
- GBS @ The Waterfront
- GBS by The Sea
- Gurney Wharf
- IKEA Batu Kawan
- Island Medical CIty
- Kobay Jelutong
- Lin Xiang Xiong Art Gallery
- Linear Waterfront
- Mitsui Outlet Park @ PIA
- One Auto Hub @ Batu Kawan
- Penang Arts District
- Penang Eastern Seafront Development
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- Penang Premium Outlets (Design Village)
- Penang Sentral
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- Penang World City
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- Silicon Island
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- The Top @ Komtar
- Wellness City of Dreams