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Property News

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
IJM Land, MRCB propose merger

IJM Land, MRCB propose merger

THE entity that will emerge from the proposed merger between IJM Land Bhd and Malaysian Resources Corp Bhd (MRCB) will be a mega property owner and developer with an implied market value of RM7 billion.IJM Land chairman, Datuk Krishnan Tan Boon Seng, said the entity was also expected to expand ... Read More
Mah Sing to embark on RM800m resort-style project in Batu Feringghi, Penang

Mah Sing to embark on RM800m resort-style project in Batu Feringghi, Penang

KUALA LUMPUR: Mah Sing Group Bhd will undertake a gated-and-guarded resort-style development in Batu Feringghi, Penang, with a gross development value (GDV) of about RM800 million, it said in a statement on Tuesday, Nov 23.The project - Ferringhi Residence@Penang - will be developed on a 61.03-acre freehold tract to be ... Read More
AHB sells Penang land parcels for RM145m

AHB sells Penang land parcels for RM145m

KUALA LUMPUR: Atlan Holdings Bhd (AHB) has proposed to sell seven land parcels in Penang for RM145 million cash, resulting in a net gain on disposal of RM80 million or 33 sen per share for the financial year ending Feb 29, 2012, it announced to Bursa Malaysia on Friday, Nov ... Read More
Penang Bridge to close for marathon on Sunday

Penang Bridge to close for marathon on Sunday

PENANG Bridge will be closed to all traffic between 1am and 10am this Sunday in conjunction with the Penang Bridge International Marathon.The closure also includes the access road leading to Penang Bridge Sdn Bhd (PBSB) office from the North-South Expressway and routes leading to the toll plaza from Seberang Jaya ... Read More