Penang's ongoing infrastructure developments, including the Bayan Lepas light rail transit (LRT) and Silicon Island projects, are elevating the outlook for several companies in the construction and property development sectors. This is according to a research report by Maybank Investment Bank (Maybank IB) which identified beneficiaries including Gamuda Bhd, IJM ... Read More

About Ideal Residency Affordable housing development by Ideal Property Group in Penang Island. This development is strategically located on Kampung Kastam land near the intersection of Jalan Bukit Gambier and Jalan Lembah, less than 2km away from University Science Malaysia (USM). It features 1,218 affordable housing units with a standard built-up ... Read More

The Vision Park in Kepala Batas has transformed into a magical wonderland and illuminated by over a million colourful lightbulbs. Throngs of visitors are enchanted every night since it opened on Oct 27. The one-month event, known as Luna Lights Wonderland 2023, is jointly organised by the Seberang Perai City ... Read More

The Local Government Development Ministry (KPKT) has formulated accommodation guidelines to ensure workers’ welfare is safeguarded per the law. In a statement today, it said it has come up with the application procedure guidelines for the provision of Temporary Labour Quarters (TLQ) for 2024 to 2026 and planning guidelines for ... Read More

Penang is well on its way to becoming a premier destination for conventions and tourism with the Penang Waterfront Convention Center's construction in full swing. According to State Tourism and Creative Economy Committee chairman Wong Hon Wai, the convention center is expected to have its grand opening in mid-2025. This ... Read More

Bank Negara Malaysia (BNM) has maintained the overnight policy rate (OPR) at 3% despite the ringgit plunging to a 25-year low against the US dollar. The decision was announced today following the central bank’s two-day monetary policy committee (MPC) meeting. In a press statement, BNM said that maintaining the OPR ... Read More

About Terraces Condominium A highrise residential development by IJM Land at Bukit Jambul, Penang. Strategically located on 9.32 acres of land next to INTI International College. It comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from. (Photo taken in Oct 2023) Find out more ... Read More

Residential property worth more than RM2bil was either bought or had their ownership transferred to foreigners over the past year, says Nga Kor Ming. The Local Government Development Minister said this represented less than 1% of total residential property transactions from 2022 to June 2023. The bulk of transactions, totaling ... Read More

Construction companies and property developers with exposure to Penang are set to benefit tremendously from the extensive development in the state. According to TA Research, the Penang Transport Master Plan (PTMP) could be a strong growth catalyst for both the construction and property development sectors in the country. With various ... Read More

The government will expand the Rent-to-Own scheme to enable more people from the B40 and M40 groups to own homes. Local Government Development (KPKT) Minister Nga Kor Ming (pix) said cooperation with financial institutions will be continued to provide attractive and sustainable housing financing packages. “The ministry (KPKT) through PR1MA ... Read More