Property News

SITE PROGRESS: Sinaran Residences (May 2022)

SITE PROGRESS: Sinaran Residences (May 2022)

About Sinaran Residences @ Utropolis The residential component in the third phase of Utropolis development by Paramount Property at Batu Kawan, Penang. It is strategically located along Bandar Cassia Expressway, with walking access to Design Village outlet mall and UOW MALAYSIA KDU Penang University College. Driving to Penang International Airport will ... Read More
gurney-wharf-proposal (1)

Gurney Wharf will cost at least RM200mil, to be completed in 2025

The cost of developing the Gurney Wharf waterfront project has increased by 12 per cent to RM200 million. According to Penang Chief Minister Chow Kon Yeow, the project's cost has been increased by RM24 million to RM200 million and it could rise further in the future due to escalating costs ... Read More

Straits City waterfront development masterplan unveiled

The master plan for the RM3 billion Straits City in Penang, the flagship development by Singapore Exchange-listed The Straits Trading Co Ltd and Malaysia Smelting Corp Bhd (MSC), has been revealed. Straits City is a 16.19-hectare (ha) mixed-use development in Butterworth's excellent seaside core business district. It has residential, retail, ... Read More

Klippa Shopping Centre and mixed-use development at Batu Kawan

Ikano Centres has officially unveiled ‘Klippa’ as the name of its retail destination and mixed-use development, which aims to be the cultural heart and hub for the growing Batu Kawan township. Ikano Centres is part of Ikano Retail, which owns IKEA stores in five countries as well as shopping centres that ... Read More
Licensed homestays allowed in Penang

Licensed homestays allowed in Penang

Homestays in Penang are allowed to operate as long as they are issued a licence to operate by the Tourism, Arts and Culture Ministry, says Jagdeep Singh Deo. The state Local Government, Housing, Town and Country Planning Committee chairman said he had no qualms with homestays as long as they were ... Read More
Gwi groundbreaking

Gurney Wharf breaks ground today

The much-awaited Gurney Wharf project, an initiative of the Penang government, will be gradually opened to the public when it is safe to do so as it enters the construction phase following a ground-breaking ceremony at the Gurney Drive today. Chief Minister Chow Kon Yeow said the project, costing an ... Read More

Vacant F&B lots in Komtar Walk up for rental

Prospective tenants looking for a place to rent to operate businesses can consider Komtar Walk as three food and beverages (F&B) lots are available for rental. Penang Development Corporation (PDC) chief executive officer Aziz Bakar revealed that four out of the seven F&B lots have been snapped up by tenants ... Read More

New Esplanade in Penang to be launched on May 13

Penangites will be able to experience the new Esplanade with the completion of its seawall upgrading project. Penang Island City Council (MBPP) secretary A. Rajendran said the RM14mil Esplanade seawall upgrading project has been completed and will be launched on Friday (May 13). "The project has been completed," he said ... Read More

BNM increases OPR by 25 basis points to 2.00%

Bank Negara Malaysia's Monetary Policy Committee (MPC) has decided to increase the overnight policy rate (OPR) by 25 basis points (bps) to 2.00 per cent. The central bank said the ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.25 per cent and 1.75 per ... Read More

Government urged to cut red tape and development fees to make houses cheaper

To lower the cost of a house, the government and state authorities need to cut red tape and fees associated with housing developments. National Housing Buyers Association (HBA) honorary secretary-general Datuk Chang Kim Loong said cutting bureaucracy by 50% would help developers bring down costs. He said whatever extended time ... Read More