PETALING JAYA: Property prices have shot up by about three-fold in Penang because of an increase in surcharges imposed by the Pakatan Rakyat-led government, claimed a former council official. According to former Penang Municipal Council's Town Planning Department acting director Khoo Boo Soon, the additional cost imposed on developers were eventually ... Read More

TAMBUN Indah Land Bhd will develop the RM640mil Pearl City Business Park on 107 acres in Simpang Ampat in early 2013, the biggest commercial centre in the northern region. Phase one of the project comprises a tenant-mixed control leisure mall with food and beverage and retail outlets, a karaoke and a ... Read More

PETALING JAYA: Property firm Malton Bhd's wholly-owned subsidiarySilver Setup Sdn Bhd (SSSB) has entered into a joint-development agreement with Batu Kawan Development Sdn Bhd to jointly develop a 300-acre piece of land in Batu Kawan, Penang into a mixed commercial and residential development with a gross development value of RM3.8bil. Malton told Bursa Malaysia ... Read More

DURING the major festivals in this country, we see the authorities conduct vigorous enforcement activities on various price-controlled food items. This is to prevent unscrupulous traders from exploiting the situation by increasing prices of what are deemed as essentials. Sometimes they even secretly stock up such items to create artificial ... Read More

CONSTRUCTION on the second Penang link is surging ahead of schedule with 84.35% of the massive project completed. Jambatan Kedua Sdn Bhd construction director Hamizol Ngah said as of Sept 20, work was 2.45% ahead of plan. “We are two months ahead of schedule from the September 2013 deadline. “We ... Read More

KUALA LUMPUR: The increase in real property gains tax (RPGT) announced in Budget 2013 will not have significant impact on the property sector, according two developers. Budget 2013 proposed a rise in RPGT from 10% to 15% for properties sold within the first two years and from 5% to 10% ... Read More

The Government acknowledges that comfortable and affordable housing is the most important basic necessity for the rakyat. The Government is committed in ensuring that the rakyat has the opportunity to own a house. This is not only an economic imperative, but also a moral imperative for a responsible Government. Therefore, ... Read More

SOME analysts have already downgraded the property sector amid speculations that Budget 2013 will implement tough measures on the industry. Soaring property prices are on most people’s minds but any steps taken to counter this may not be positively viewed by industry players. Yet, public outcry has been loud and ... Read More

GEORGE TOWN: A group of shop owners of Prangin Mall are crying foul over the developer’s failure to issue them with strata titles over the past 12 years. Prangin Mall Joint Body Management chairperson Terri Yeoh Mooi Sim said the shop owners had suffered great losses as the market value ... Read More

PETALING JAYA: Exorbitantly high selling prices, stringent banking rules and a generally cautious sentiment that has been having an impact on the Malaysian property market this year could continue into 2013. Malaysian Institute of Estate Agents (MIEA) deputy president Siva Shanker said property transactions in the first half of 2012 had slowed ... Read More