Work to revitalise the abandoned Majestic Heights Phase 2A project in Paya Terubong, Penang, can go ahead only with the cooperation of at least 220 owners. Chief Minister Lim Guan Eng said that so far, 127 unit owners had signed the agreement to execute the commencement of the project. “We ... Read More

by Charles Tan Anyone favouring a landed property within the Penang island? With this question, I can see majority putting up their hands but a few would then ask, which part of Penang island? If it’s Greenlane, I can see 10 / 10. If it’s in Sungai Ara, suddenly, half ... Read More

Total investments in Penang hit RM6 billion between January and September this year, outpacing RM3.9 billion for all of 2013. Chief Minister Lim Guan Eng, who announced the data at a press conference, said Penang also ranked third among all states for the highest amount of investments. “Last year, Penang ... Read More

You’ve found your dream home and are already imagining yourself serving dinner in a top-of-the-range kitchen. However, before you start picking your wall colour, consider the possibility of your home loan not being approved. Today’s home loan application and approval process can be tedious, with so many possibilities of issues ... Read More

Lifestyle property developer Eastern and Oriental Bhd (E&O) has obtained approval to proceed with reclamation works for phase 2 of its Seri Tanjung Pinang (STP2) development here. In an announcement to Bursa Malaysia yesterday, the company said a letter dated November 25 was received on December 5 from the State ... Read More

The Penang state government has acknowledged the importance of the Sultan Abdul Halim Muadzam Shah Bridge as more firms on the island express interest in expanding their operations to the mainland. Chief Minister Lim Guan Eng said more high-tech manufacturing firms from the United States (US) and the European Union ... Read More

Over a million residents here will be affected if the goods and services tax (GST) is imposed on management fees for apartments and condominiums, said Penang Chief Minister Lim Guan Eng. He said all management and maintenance fees for buildings with strata titles, including low- and low-medium cost flats, will ... Read More

Major construction and property players with projects in Penang are set to be major beneficiaries of the state government’s RM27bil transport masterplan. The Penang Transport Master Plan (PTMP) is set to improve accessibility and spur further gains in its vibrant property market, said AmResearch in a report yesterday, adding that ... Read More

Penang property developers will adopt a “wait-and-see” approach in rolling out new property projects next year in view of various factors, including rising power costs, fuel subsidy cuts and house buyers’ cautious stance. The Real Estate and Housing Developers Association (Rehda) has expressed concern over bureaucratic red tape involved in ... Read More

The Penang property scene, which has seen prices soaring to new levels in the last two years, will see new affordable properties with a gross development value (GDV) of RM4.7bil entering the market in prime locations over the next three years. Besides the pricing, which ranges between RM300,000 and RM650,000 ... Read More