SP Setia Bhd is acquiring 1,675 acres of land in Penang for RM620.12 million following a successful tender bid. In a filing with Bursa Malaysia yesterday, the group said its wholly owned subsidiary Setia Recreation Sdn Bhd accepted an award of tender for the purchase of the parcels of freehold ... Read More

The guidelines for the increase in development density to 128 units per acre from 87 units per acre will only come into effect next year in Penang. Penang Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the state was in the process of fine tuning ... Read More

Tropical Island Resort Sdn Bhd (TIRSB) has entered into a joint-venture agreement with Q Islands Development Sdn Bhd (QID), a subsidiary of Ideal Property Group, to redevelop the Jerejak Rainforest Resort & Spa and the 80 acres of land owned by TIRSB on the island. TIRSB is a joint-venture company ... Read More

The right to shelter is an inalienable basic human right. Providing basic, sufficient and affordable housing for its people, particularly those with a low income, is one of the fundamental duties of the state. However, if a government-linked research institute’s housing survey is any indication, it has validated the people’s ... Read More

Market performance remained sluggish in the first half of this year as property transaction numbers in the country continued their downward trend. According to the National Property Information Centre’s (Napic) data for 1H2016, a total of 163,528 properties were transacted averaging 27,255 properties a month, a decrease of 12.3% compared ... Read More

Will property prices come down?” This is not a new question especially in a time when the property market is soft. Before one answers that question, panellists at TheEdgeProperty.com’s Roundtable on Budget 2017 held on Oct 24 pointed out that industry stakeholders should first ask and find out whether there ... Read More

If you feel that Penang, especially the island, is getting crowded you are absolutely right. According to the Department of Statistics, the level of urbanisation in Penang at 90.8 per cent is among the highest after Kuala Lumpur, Putrajaya and Selangor. The population density of the northern state is also ... Read More

Eastern and Oriental Bhd (E&O) is set to launch its latest project Amaris Terraces By-The-Sea at its Seri Tanjung Pinang development in Penang this November, pending the completion of the project’s show unit. “We are calling this project Amaris Terraces By-The-Sea because some of the units are literally by the ... Read More

The state government has increased the development density to 128 units per acre up from 87 units per acre as part of measures to cushion the unfavorable economic impact on developers and to lower prices for residential units. Penang Housing, Town and Country Planning Committee chairman Jagdeep Singh said units ... Read More

Following the unveiling of Penang Transport Master Plan, developers are eyeing for opportunities near LRT stations. This is particularly obvious in Sungai Nibong where there were at least 7 projects proposed by 6 developers in the past 12 months, with the exception that there is still no official plan submitted by ... Read More