The state government is planning a new mechanism to prevent low-cost (LC) and low medium-cost (LMC) unit owners from profiting from the sales of units. Under the new guidelines, LC and LMC unit owners will have to sell their units to the government at a mutually acceptable price. State Housing, ... Read More

The Penang government plans to call for a Request for Proposal (RFP) to offer water taxi services in the state after failing to receive any response on the idea. Penang Chief Minister Chow Kon Yeow said the water taxi services would open more routes and more effective transportation networks by ... Read More

The Penang government is looking at introducing a new affordable housing category where the units will remain government properties under a leasehold plan that will allow low-income earners to own homes and upgrade to larger units in the future. State executive councillor Jagdeep Singh Deo (DAP-Dato Keramat) said under the scheme, the ... Read More

Premier lifestyle property developer Eastern & Oriental Berhad (E&O) unveiled the first winner of its Luxury Living Campaign at a prize presentation held at the Straits Quay Retail Marina in Penang. The campaign launched in July 2018 offers homebuyers exclusive packages for selected E&O landmark properties in Penang, Iskandar Malaysia ... Read More

A developer is planning to build a theme park on the southern part of Jerejak Island, the state legislative assembly heard today. Penang Chief Minister Chow Kon Yeow (PH - Padang Kota) said the developer submitted a development master plan for the island two years ago, adding that this had ... Read More

The long wait will soon be over and commuters will finally get to use the new transport hub in Penang Sentral, Butterworth. The transport hub on the mainland, which can take 3,000 to 4,000 passengers a day, will finally open its door to the public on Nov 22 after an ... Read More

A national research institute director says the peer-to-peer (P2P) financing scheme for housing announced in Budget 2019 benefits investors more than home owners, and has urged the government to review the scheme thoroughly. “P2P finance is an investment scheme, there’s nothing to say that it’s an ownership scheme. “With the ... Read More

The state government should exempt developers from paying compliance costs for all affordable housing units in the state, a backbencher told the state legislative assembly today. Kebun Bunga assemblyman Ong Khan Lee said such exemptions would further reduce affordable home prices here. He also urged Penang to apply big data ... Read More

Foreigners do not own more than one percent of property in Malaysia, revealed Housing and Local Government Minister Zuraida Kamaruddin. Zuraida said that in March 2014, the government had imposed a RM1 million minimum property purchase price for foreigners. She noted that the state government has the right and power ... Read More

The first phase of the Penang Transport Master Plan (PTMP) will proceed as planned, the state legislative assembly heard today. Datuk Keramat assemblyman Jagdeep Singh Deo said all infrastructure projects under Phase One of PTMP will proceed after obtaining the relevant approvals. The state local government and housing development committee ... Read More