Property News


Sell LC and LMC units back to the state

Penang is mulling to compel low-cost (LC) and low medium-cost (LMC) unit owners to sell their properties back to the state if they were moving to higher-end properties. State Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said the move would help to reduce the burden ... Read More

Sanbumi, Iconic to jointly develop RM127m GDV project in Penang

Sanbumi Holdings Bhd has, via its wholly-owned subsidiary Sanbumi Sawmill Sdn Bhd, entered into a joint venture agreement with Iconic Development Sdn Bhd to construct and develop a RM127 million commercial development project called Iconic Point, located in Simpang Ampat, Seberang Perai Selatan. The project will be developed on a ... Read More

Big data to help solve property overhang issue

A big data system is needed to solve property overhang issue in Malaysia, Housing and Local Government Minister Zuraida Kamaruddin said, adding that such a system will be a 'game changer' for the local property industry. She said the lack of a big data system has hindered the government in ... Read More

Tanjung City Marina to be rejuvenated

Newly-appointed Penang Port Commission (PPC) chairman Jeffrey Chew Gim Eam has in his maiden media conference called for a request for proposal (RFP) for the sunken Tanjung City Marina site adjacent to Swettenham Pier Cruise Terminal. The Tanjung City Marina is an abandoned marina off Weld Quay located within the ... Read More
Flat growth expected in Penang’s property market this year

Flat growth expected in Penang’s property market this year

Growth of the property market in Penang is expected to remain flat this year in view of the unpredictable economic outlook and the market’s wait-and-see attitude, according to an international real estate consulting firm. Henry Butcher Malaysia (Seberang Perai) Sdn Bhd associate director Fook Tone Huat said the United States ... Read More

BNM tells banks to use plain language in housing loan contracts

Bank Negara Malaysia (BNM) has given banking institutions until end-2019 to revise “unfair” terms and conditions, and improve clarity by using plain language for both new and existing housing loan and financing contracts. In addition, the central bank in its Financial Stability and Payment Systems Report 2018, revealed that the ... Read More

Aspen Vision City sets 2 Malaysia Book of Records

It is definitely a historical and proud day for Aspen Group and IKEA Southeast Asia when Vervea High Street and the Aspen Vision City’s Central Island Park successfully entered the Malaysia Book of Records (MBR). Both development projects are located within Aspen Vision City, a joint venture development between Aspen ... Read More

Penang is one of CNN Travel’s best spring destinations

Penang has been chosen as one of the best places to travel to by CNN Travel, alongside popular tourist destinations such as Spain and Greece, as well as various cities in the United States. The American broadcaster placed Penang 15th on the list of its 19 best spring travel destinations ... Read More

Penang also has a lot of proposed projects tabled

The Northern Corridor Implementation Authority (NCIA) has proposed several projects to implement in the four northern states, says Chow Kon Yeow. The Penang Chief Minister said the projects in Perlis, Kedah, Penang and Perak were to be carried out by the government or through private financial initiatives. He said this ... Read More

Seven mega projects for Kedah, including a highway to Penang 2nd Bridge

The government has announced seven mega projects costing over RM3bil for Kedah for development in the state to bring it on equal footing with more progressive states. Economic Affairs Minister Datuk Seri Mohamed Azmin Ali (pic) announced that the projects are the Kulim International Airport (KXP); a manufacturing industries and ... Read More