Property News

penang medical and tech hub

Penang poised to become MedTech Hub of Asia

Penang is set to become the MedTech Hub of Asia due to the rise of its medical device exports. Chief Minister Chow Kon Yeow said Penang’s exports in medical devices make up about 65% on average of Malaysia’s total in the MedTech industry between 2017 and 2021. “The state’s exports ... Read More

Additional packages for affordable homes are optional and not a must

Housing developers cannot force buyers to take up renovation packages, says Chief Minister Chow Kon Yeow. Chow was responding to a reporter’s question regarding certain developers allegedly hiking up the price of low-cost housing in the state through backdoor practices. He emphasised that additional packages should remain optional and must ... Read More

UPCOMING: George Town / Jiran Bina Sdn. Bhd.

A recently proposed commercial development in George Town by Jiran Bina Sdn. Bhd. Situated along Jalan Clove Hall, this location finds itself in close proximity to Skymind Tower and diagonally faces Boustead Tower. Additionally, it boasts a convenient location just a short distance from the renowned Gurney Drive and is ... Read More

Penang introduces RM100K affordable housing for RM5K income

Penang has unveiled a new committee, called HOPE (Housing Outcome Performance Committee) under the state Housing Board, to streamline the process of offering affordable housing units. Datuk Seri Sundarajoo Somu, the state executive councillor in charge of Housing and Environment, announced that HOPE was established to ensure the execution of housing ... Read More

Ewein buys 3.9ha freehold land in Seberang Perai Tengah

Ewein Bhd is buying a 3.93-hectare vacant piece of freehold land in Seberang Perai Tengah, Penang for RM39.77 million. The property developer is buying the land through its indirect wholly-owned subsidiary SkyDorm Sdn Bhd, which is principally involved in construction and letting of industrial properties. The vendors are Tan Hang ... Read More

Hill valley near Paya Terubong to be turned into agro-tourism resort

A 164ha hill valley land near Paya Terubong here will be developed for an agro-tourism project over the next five years. The project, overlooking the Bukit Kukus Bypass bridge, will combine the features of a nature resort with flying fox lines. It will also improve food security by encouraging vegetable ... Read More

New residential property launches plunge by 50% in H1 2023

Residential property launches in the first half of 2023 plunged 50.2% to just over 16,000 units from 33,205 units in H1 2022, said the National Property Information Centre (Napic). Compared to the second half of 2022, residential launches in the first half of 2023 were down by 20.9%. These statistics ... Read More
Lin Xiang Xiong Art Gallery

Opening of RM80 million art gallery in Gelugor set for 2025

known for its rich heritage and vibrant culture, will soon welcome the opening of the RM80mil Lin Xiang Xiong Art Gallery at The Light City in Gelugor. Named after the owner-cum-world-renowned artist and entrepreneur, the seven-storey gallery will have retail shops, basement carpark and restaurant sited on a 0.36ha land ... Read More

SITE PROGRESS: Ferringhi Hills (Sept 2023)

About Ferringhi Hills A landed residential development within the established township of Batu Ferringhi. It is located along Persiaran Sungai Emas 1, only 10 minutes walk to Ferringhi Beach. It will feature a mix of 3-storey terrace (with lower-ground level) and semi-detached, bungalow houses, to be constructed in two phases. Find ... Read More

Vacancy tax possible answer to property glut issue?

The implementation of a vacancy tax could be a key factor in addressing the issue of vacant and unsold housing units across Malaysia. Khazanah Research Institute’s Theebalakshmi Kunasekaran said this tax is imposed on housing units that remain unoccupied or unused for a certain time period. It is usually calculated ... Read More