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Property News

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BNM expected to cut OPR to new low of 1.5%

DBS Group Research is predicting Bank Negara Malaysia (BNM) to cut the overnight policy rate (OPR) by another 25 basis points (bps), which would bring the interest rate to a new low of 1.5%, in the forthcoming monetary policy meeting scheduled for Jan 20 next week. The move is expected ... Read More
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Penang to extend House Ownership Campaign to end of 2021

The Penang government plans to extend the House Ownership Campaign (HOC) to the year-end following implementation of the movement control order (MCO) and imposition of Emergency which is expected to continue until August. State Housing, Local Government and Town and Country Planning Committee chairman, Jagdeep Singh Deo said this measure ... Read More
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All parks in Penang will be closed during MCO

All parks in Penang, including Botanic Gardens, will be closed as of Friday (Jan 15). This follows some confusion when the movement control order was re-imposed on Wednesday (Jan 13) and some public recreational parks in the state remained open for people to go jogging alone. State youth and sports ... Read More
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SITE PROGRESS: 3 Residence (Jan 2021)

About 3 Residence Mixed development by IJM Land at Sungai Pinang. It is strategically located along Lebuh Sungai Pinang 1, easily accessible via Tun Dr. Lim Chong Eu Expressway. Offering a mix of residential and commercial components, which comprises a 47-storey skyscraper, hotel and shop offices. Find out more about 3 Residence Register your interest ... Read More
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EcoWorld calls off merger with UEM Sunrise

Private developer Eco World Development Group Bhd has called off a proposed merger with government-linked property developer UEM Sunrise Bhd. The merger, if realised, would have resulted in one of Malaysia’s largest real estate companies by market value. In a statement, EcoWorld chairman Liew Kee Sin said the decision was ... Read More
mco2

MCO reinstated in Penang and 5 other states from Jan 13-26

Penang Chief Minister Chow Kon Yeow today called for cooperation from all Penangites to ensure the successful implementation of the two week-long Movement Control Order (MCO) beginning Wednesday. "We have to accept the decision made (to implement the MCO). "This is a necessary move due to the escalating Covid-19 cases, ... Read More
cable-car-illustration

Penang go ahead with private partners for cable car project

The Penang government has called for a request for proposal for a privately-funded cable car service up Penang Hill after the federal government canceled its RM100 million allocation for the project. Chief Minister Chow Kon Yeow said the cable car project will proceed through collaboration with the private sector. “We ... Read More
by-pass

Ayer Itam-LCE Expressway bypass to start work on Feb 01

Work will finally begin next month on a RM851 million elevated bypass road, one of three projects that are part of the controversial RM6.3 billion Penang undersea tunnel project. A groundbreaking for the bypass was held in October 2019 but there had been little sign of the project taking off, ... Read More
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SITE PROGRESS: Woodsland Park (Jan 2021)

About Woodsland Park A freehold affordable housing development by PTL Properties Sdn. Bhd. near Jalan Betek in Bukit Mertajam. It is strategically located next to Taman Sungai Rambai, just a stone’s throw away from SJK(C) Keow Kuang Primary School. Amenities such as schools, markets, banks, shopping malls, and eateries are only ... Read More
Gurney wharf concept

Gurney Wharf project moving ahead

The Gurney Wharf project in Penang, estimated to be completed by the end of 2023 and with various components on it, will cost the state about RM176mil. Chief Minister Chow Kon Yeow said among the features to be expected along the 1.75km-long reclaimed coastline are parks, a hawker centre, a ... Read More