Penang State EXCO for Town & Country Planning and Housing, Jagdeep Singh Deo set a new target of 220,000 units of affordable housing (RMM) to be built by 2030, supporting the current economic environment and demand. The targets include low-cost (Type A) and low-medium cost (Type B) and affordable housing which cover three categories of Type C1 ... Read More

GEM Residences - a new freehold condominium located at Jalan Baru, Prai, Penang is primed to bring a new standard of living to Prai, Penang by offering a range of well-designed modern living spaces for a wholesome lifestyle experience. Strategically located along the six-lane Jalan Baru connecting the North-South Expressway ... Read More

The property market saw a steep y-o-y fall in the first half of 2020 (1H2020). Property transaction volume for 1H 2020 dropped by 27.9% y-o-y to 115,476, while transaction value declined 31.5% to RM46.94billion, based on the latest data released by the National Property Information Centre (NAPIC) which operates under ... Read More

MTT Group of Companies, through its subsidiary Botanica Hills Sdn Bhd, has entered into a joint venture agreement with Eden~On-The-Park Sdn Bhd to develop the first Integrated Senior Living Resort in the state here. The project - Eden at Botanica.CT - will feature a nursing care residence and a low-density ... Read More

The Penang government will appoint a consultant for the landscaping works at the newly-reclaimed Gurney Wharf project next month, says Chief Minister Chow Kon Yeow. Chief Minister Chow Kon Yeow said the consultant would then have time to call for tender to appoint contractors for various stages of work on the ... Read More

The standardization of several issues including regulations, licensing and taxes involving the hotel sector and global online accommodation service provider, Airbnb will be finalized by the end of this year. Housing and Local Government Minister Zuraida Kamaruddin (pictured) said the standardization should take into account various aspects and determine the ... Read More

A nearly century-old Hillside Bungalow in Penang Hill has been restored to enhance visitors’ experience on the hill. The project, named Hillside Retreat, is among the state government’s initiatives to further promote Penang Hill as the ‘hill resort of choice’ in Malaysia and the region. Chief Minister Chow Kon Yeow, ... Read More

Today land costs account for about 30% of any property development cost. If you are wondering how much does the land costs in Penang, below is an infographic that shows several land deals transacted in 2019 with a value of more RM10 million. This report is based on data published by The National Property Information Centre ... Read More

Will developers start to build fewer facilities in their future integrated developments or high-rise residential projects to reduce cost and lower the selling price for home seekers? Reducing home prices are the right thing to do if developers want to stay afloat amid the current Covid-19 pandemic and they can ... Read More

The concept of affordable housing in Malaysia needs a complete reset, with ”rent-to-own” (RTO) schemes being effective to way improve the lives of the lowest income group (B40) nationwide, property expert believes. Alpha REIT Managers chairman Datuk Stewart LaBrooy said the reset was needed as the term “affordable housing” in ... Read More