The anticipated goods and services tax (GST) and the hike in the overnight policy rate (OPR) will impact housing affordability and sales, according to Maybank IB Research. It said the benchmark OPR of 3% was expected to rise 50 bps (basis points) to 3.5% following the central bank’s monetary policy ... Read More

Eco World Development Group Bhd plans to launch two residential and commercial property projects in Penang, with a gross development value (GDV) of RM1.26bil, in 2014 and 2015. Group president and chief executive officer Datuk Chang Khim Wah told StarBiz that the projects, EcoTerraces and EcoMeadows, would be launched on ... Read More

PROPERTY prices in Penang have risen by leaps and bounds since about seven years ago. The announcement of the second bridge in Penang in late 2006 is a key reason for the increase in property prices. Raine & Horne Malaysia director Michael Geh said that the price of vacant land ... Read More

IDEAL United Bintang Bhd (IUBB) is targeting to obtain the gold Green Building Index (GBI) certification for the Tree Sparina and Solaria projects in Bayan Lepas, Penang. IUBB senior strategic design manager Gan Heng Fey said in an interview that solar panels and rain harvesting systems were among the green ... Read More

THERE is always a past and present which justify and lead the incoming future. Penang is a fascinating storyteller which has been able to treasure antique flavours while developing modern high-tech manufacturing enclaves that have attracted the world’s attention. Past memories… Treasures of the future On July 7, 2008, a ... Read More

A NEW paired road costing RM300mil will be built to connect Lebuhraya Thean Teik in Bandar Baru Air Itam to Lebuh Bukit Jambul, Penang, Chief Minister Lim Guan Eng said. The new link - Jalan Bukit Kukus - is an alternative way to ease traffic congestion in Jalan Paya Terubong, ... Read More

THE state government has managed to get a developer to build 7,658 affordable homes in Paya Terubong, Penang. Chief Minister Lim Guan Eng said PLB Land Sdn Bhd had agreed to build the units ranging from 750 to 1,000sq ft priced between RM292,500 and RM390,000. The developer is also the ... Read More

PROPERTY experts say the findings of the Property Market Report 2013, released last week by the National Property Information Centre, came as no surprise, with the various cooling measures having their intended effect of curbing speculation and excessive price growth. Less certain is whether demand will recover in earnest during ... Read More

EASTERN & Oriental Bhd’s unit Tanjung Pinang Development Sdn Bhd can look forward to getting the go-ahead from the Penang government for its Seri Tanjung Pinang (STP) phase two project if it complies to all the technical and regulatory requirements for the project. In an interview at the Chief Minister’s ... Read More

THE Penang Municipal Council has decided the reduce the annual property value (APV) for One World and One Sky small office/ home office units by 10%. Council Financial Management Committee alternate chairman Joseph Ng Soon Siang said the 10% APV reduction had no bearing on the property’s 10.3% annual assessment ... Read More