After waiting for months on end for their applications for advertising permits and developers’ licences (APDLs) to be approved, developers in Penang breathed a sigh of relief recently — they have finally been given the nod. They are now busy with sales and purchase agreement signings and banking in of cheques, ... Read More

Penang and Sabah remain the most attractive regions for investment in the hotel or leisure sub-sector, according to respondents of Knight Frank’s Malaysia “Commercial Real Estate Investment Sentiment Survey 2017” (CREISS). “Looking into the most attractive regions for investments in 2017, Sabah and Penang were voted as the most attractive ... Read More

The unkempt and inaccessible back lanes of George Town will soon be upgraded, beautified and opened up for easy access to pedestrians and cyclists. Starting with three small lanes first, the Penang Island City Council (MBPP), together with Think City, plans to renovate these, upgrade the drainage systems and widen ... Read More

Premier lifestyle developer Eco World Development Group Bhd (EcoWorld) is optimistic about the overall property market this year, which it expects to improve, partly anchored by factors that include low interest environment and positive buying sentiment. "I acknowledge that the property market is still challenging. But this year is going ... Read More

The Penang government has extended by six months the validity period of the award letter for SRS Consortium, the project delivery partner (PDP), of the Penang Transport Master Plan (PTMP) project. The award letter was to expire by the end of this month but will now be valid until June ... Read More

Developers in the state can now choose to settle 60% of contribution charges using corporate guarantees. Real Estate & Housing Developers Association (Rehda, Penang) chairman Datuk Toh Chin Leong said previously 60% of the contribution in the form of development and infrastructure charges had to be settled using bank guarantees, ... Read More

More than 60% of potential 1Malaysia Housing Programme or PR1MA homebuyers had to give up their booked units due to problems with end-financing. Hence, Perbadanan PR1MA Malaysia has come up with a special end-financing scheme to help increase PR1MA homebuyers’ chances of getting home loans. The new scheme called the ... Read More

The Penang state government said today it will absorb RM55.19 million in assessment rates for all property owners and Goods and Services Tax (GST) for all its services in the state this year. While launching an awareness drive on the assessment rate exemption at Penang Island City Council (MBPP), Penang ... Read More

Our Chinese New Year is coming to an end this Saturday and let’s make a good finale to the festive with a great Chap Goh Meh celebration on the 15th day of Chinese New Year at both Eco Terraces and Eco Meadows with lots of excitement like complimentary F&B Stalls, ... Read More

The first phase of the Penang Sentral transportation hub is expected to be completed this year, almost a decade after the ground-breaking ceremony by then prime minister Tun Abdullah Ahmad Badawi. Planner Goh Choon Aik, who was appointed by the Malaysian Resources Corporation Berhad (MRCB), the developer for the project, ... Read More