WANTING and actually being able to afford your own place are two very different things. With the oversupply of high-end condominiums shadowing the property market, fresh graduates and young professionals may have to either send out an SOS to their parents for cash or live at home because having “my ... Read More

Mah Sing Group Bhd has revised its gross development value (GDV) for its Southbay City project in Batu Maung, Penang, to approximately RM2bil from RM1.5bil previously. Group chief operating officer Teh Heng Chong said in an interview that this was because new components such as a shopping mall, hotels and ... Read More

GEORGE TOWN: Penang is in its final stage of applying for city status for George Town, said state Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow. “The state secretariat is presently in its final discussion with Chief Secretary Tan Sri Dr Ali Hamsa. “We were supposed ... Read More

PETALING JAYA: Property buyers will no longer have the option to take loans for longer than 35 years. Anyone taking a personal loan can now only do so for a period of up to 10 years. These are new rules set by Bank Negara with the aim of helping to ... Read More

THE Penang Yang di-Pertua Negri Tun Abdul Rahman Abbas has called for support for the four major infrastructure projects worth RM6.3bil that was proposed by the state government. He said there was a need to upgrade the road infrastructure in Penang to be on par with developed countries. “Thus, the ... Read More

THE opening of the second Penang bridge has been delayed in order to complete work on the bridge ramp and ground works on a section of the flyover ramp which collapsed on June 6. The bridge project developer is Jambatan Kedua Sdn Bhd (JKSB). Its public relations and communications deputy ... Read More

House buyers in Malaysia need to be educated about their rights. They have to be made aware of the issues they face, and to demand quality for the huge sum of money they are paying for their property. Complaint One “I received the keys to our home and to our ... Read More

PETALING JAYA: Bank Negara is studying the risks arising from the developer interest-bearing scheme (DIBS) with a view of potentially imposing curbs on it, sources said. Although it is unclear if or when such curbs would be put in place, Hong Leong Investment Bank (HLIB) said that it may be ... Read More

In recent times, the redraw facility has become a common feature in most home loan packages in Malaysia.  Whilst the concept of redraw is relatively simple to understand for most seasoned home buyers; a new home buyer may find this term slightly confusing as it really isn’t something you see ... Read More

KUALA LUMPUR: Penang-based Ivory Properties Group Bhd will start work on phases three to five of its Penang Times Square project, which includes a five-star hotel, by year-end. Group chief executive officer Datuk Low Eng Hock said the three phases would cover 1.5 million sq ft, including a five-star hotel. In a statement issued ... Read More