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Property News

Penang should allow more reclamation to address land shortage

Penang should allow more reclamation to address land shortage

GEORGE TOWN: The state government should allow more reclamation, higher plot ratio, development above 250 feet in certain areas and development of other parts of the island to address the current land shortage for property development.Penang Real Estate and Housing Developers Association (Rehda) chairman Datuk Jerry Chan said with land ... Read More
Hunza braces for transformation

Hunza braces for transformation

THE completion of a lifestyle shopping mall along with an office tower by 2012 is set to transform Hunza Properties Bhd (HPB) (5018) from a property developer to that of a real estate landlord. The Penang-based company, which is due to announce two new anchor tenants for its Gurney Paragon ... Read More
Rehda: High cost of land reason for steep house prices in Penang

Rehda: High cost of land reason for steep house prices in Penang

GEORGE TOWN: The Real Estate and Housing Developers' Association (Rehda) of Penang is claiming that the high cost of land is the main reason for houses being sold at high prices in the state.Chairman Datuk Jerry Chan Fook Sing said the high cost of land was also the reason for ... Read More
Penang properties the most expensive

Penang properties the most expensive

PRICES of properties on Penang island are the most expensive in Malaysia. Socio-Economic and Environmental Research Institute (SERI) senior fellow Dr Michael Lim Mah Hui said the average house price last year was RM540,000 or eight times the average household income. In comparison, the average house price in Kuala Lumpur ... Read More
Penang houses are just ‘not affordable’ CAP describes prices for homes as exorbitant

Penang houses are just ‘not affordable’ CAP describes prices for homes as exorbitant

THE average price of a house on Penang Island in 2009 was RM550,000 — the highest in the country and RM160,000 more than the average price of a house in Kuala Lumpur.State government think tank, Socio-Economic and Environ-mental Research Institute (Seri), said the price was eight times the average household ... Read More
New builder for major project <br />High-end property scheme in Batu Ferringhi to be rebranded

New builder for major project
High-end property scheme in Batu Ferringhi to be rebranded

GEORGE TOWN: Mah Sing Group Bhd will apply for approval to take over the planning permission for the Tropika Ferringhi project given to the previous land owner.Mah Sing said in a statement that on 22 November, the group had acquired a piece of freehold land in Batu Ferringhi which had ... Read More
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Sathu Terraces @ One Residence

Sathu Terraces embrace the contemporary tropical style which is full of warm, serene vitality. Simple yet elegant, the minimalist concept is clearly showcased in the clean, neat lines being both modern and spacious. It features a car porch that is spacious enough to park two cars. With a roofed balcony ... Read More
E&O&apos;s  unbilled    property sales soar to RM605m

E&O's unbilled property sales soar to RM605m

EASTERN & Oriental Bhd (E&O) (3417) says its unbilled property sales as at September 30 have surpassed peak levels recorded in the year ended March 2008. E&O, listed on Bursa Malaysia's main board, locked in unbilled property sales of RM604.8 million during the period compared to RM203.7 million registered as ... Read More
MRCB to go big in the property sector

MRCB to go big in the property sector

PETALING JAYA: After nearly 30 years, Malaysian Resources Corp Bhd (MRCB) is poised to join the “premier league” of the property development sector via its proposed merger with IJM Land Bhd.The company started in 1969, under the name Perak Carbide Sdn Bhd, with its core activity of carbide manufacturing. In ... Read More
RM8bil spill-over effects from RM2.7bil Penang Sentral

RM8bil spill-over effects from RM2.7bil Penang Sentral

GEORGE TOWN: The RM2.7bil Penang Sentral project in Butterworth is expected to generate economic spill-over effects of about RM8bil when the entire project is completed 10 years from now.Malaysian Resources Corp Bhd (MRCB) executive director Datuk Ahmad Zaki Zahid said at a press conference that work on the first phase, ... Read More