Property News


Not enough low-cost housing to meet the demand in Penang Island

State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo, said that as of 30 September, there were 3,866 applicants in the Southwest District waiting for the allocation of low-cost housing, but there were only 1,175 low-cost housing units (RM42,000) available waiting to be allocated. He said that the above project ... Read More

Putrajaya pulls back govt guarantee for Penang’s RM2b loan to finance LRT project

Putrajaya has decided not to proceed to grant a government guarantee for a US$500 million (RM2.04 billion) loan application by Penang to partly finance its RM9.5 billion light rail transit (LRT) project. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the decision was in line with the revised ... Read More

Upcoming foreign workers dormitory at Valdor

GUH Realty Sdn. Bhd. (a subsidiary of GUH Holdings Berhad)  and Centralised Dormitory Sdn Bhd will be jointly developing 5 blocks of 5-storey foreign workers dormitory in approximately 7.5 acres of land at Valdor, Penang. It is located along Jalan Nafiri, adjacent to North-South Expressway. This development comprises a total of ... Read More

Automatic approval for extended moratorium on loan repayment for B40 and micro enterprises

The government has instructed banks to automatically approve applications to freeze loan repayments by applicants in the bottom 40% income group (B40) as well as micro-enterprises with debts of below RM150,000. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pictured) announced this today during his winding-up speech on Budget ... Read More
George Town

Penang Island is one of the “11 Best Islands for Retirement Abroad”

Penang has been named as one of the "11 Best Islands for Retirement Abroad" by International Living, a website that covers global retirement or relocation opportunities, earlier this month. The other islands which made into the list were Mallorca in Spain, Ambergris Caye in Belize, Ireland, Roatan in Honduras, Isla ... Read More

Ivory Properties gets green lights to buy land opposite Queensbay Mall

Ivory Properties Group Bhd (IPGB) said it has received the shareholders’ approval for the acquisition of two pieces of adjoining freehold land, totaling 1.98 hectares (ha), located opposite Penang Queensbay Mall. The announcement was made following IPGB’s virtual Extraordinary General Meeting (EGM) today, in which shareholders and proxies participated in the meeting via ... Read More

Over RM20bil worth of residential properties remain unsold

Some RM20bil worth of residential properties remain unsold due to an overhang, says Housing and Local Government Minister Zuraida Kamaruddin (pic). "Based on the First Quarter 2020 Property Market Report by the National Property Information Centre (Napic), a total of 31,661 completed units remain unsold with a value of RM20.03bil," ... Read More

Stern actions will be taken against Penang JMBs and MCs that fail to comply with SOP

Stern actions will be taken against joint management bodies (JMBs) and management corporations (MCs) that fail to comply with the COVID-19 standard operating procedures (SOP) to curb the spread of COVID-19 in stratified buildings. State Housing, Local Government and Town and Country Planning Committee chairman Jagdeep Singh Deo said that ... Read More

Penang Sentral almost deserted

The COVID-19 pandemic, that is still plaguing the world, has been affecting all walks of life, especially small traders who are feeling the pinch the most due to the outbreak. A check at the Penang Sentral yesterday found that the majority of traders were concerned as they have hardly any ... Read More

SITE PROGRESS: Setia Sky Ville (Nov 2020)

About Setia Sky Ville One of the most popular development by SP Setia in Jelutong. It is strategically located off Lorong Slim, just a short drive away from various high schools, namely Heng Ee secondary school, Penang Free School and Han Chiang College. This development features 550 residential units with built-up sizes ranging from 1,036 ... Read More