Property News
Studies ongoing for no-parking zones in George Town
Enforcement of newly designated no-parking zones in George Town has yet to begin, as studies on the identified locations are still ongoing, according to A. Rajendran. The mayor of the Penang Island City Council (MBPP) said three areas have been identified so far, with the possibility of more locations being ... Read More
Sunway makes conditional RM11bil takeover bid for IJM
Sunway Bhd has proposed a conditional voluntary take-over offer to acquire all shares in IJM Corp Bhd at RM3.15 per share, valuing IJM at about RM11 billion if the offer is fully accepted. In a filing with Bursa Malaysia, Sunway said the offer covers 3.505 billion IJM shares in issue, ... Read More
SITE PROGRESS: Avion Residence (Jan 2026)
About Avion Residence Avion is a serviced residence project by Rackson Group in Bayan Lepas, located opposite Penang International Airport and part of the Penang Gateway development. It comprises a 36-storey commercial building with 608 serviced suites above an eight-level car park, with unit sizes ranging from 488 sq ft ... Read More
QR code entry scrapped for Gurney Bridge
The proposal requiring motorists to scan a QR code before crossing the new Gurney Bridge to Andaman Island has been withdrawn, following concerns over public access. Rajendran Anthony, mayor of the Penang Island City Council, said the bridge is intended to function as a public road once opened to traffic, ... Read More
Penang makes CNN and New York Times travel list for 2026
Penang has kicked off the New Year on a high note, earning a coveted spot on the authoritative CNN/New York Times Places to Visit 2026 listing, alongside 20 other destinations worldwide. The CNN Travel Team named the state among the top 15 places to travel to, describing Penang as "a ... Read More
PWCC strengthens Penang’s MICE sector with RM1bil impact in 2025
Penang’s Meetings, Incentives, Conferences and Exhibitions (MICE) industry recorded an estimated economic impact (EEI) of RM1 billion in 2025, reinforcing the sector’s growing role in supporting the state’s tourism and property ecosystem. State Tourism and Creative Economy Committee chairman Wong Hon Wai said the figure reflects the broad spillover effects ... Read More
Property market poised for market-driven upswing in 2026
Malaysia’s property sector is expected to enter a stronger, more market-driven growth phase in 2026, supported by improving economic fundamentals, resilient domestic demand and timely infrastructure delivery. According to a report in Business Times, industry players see a noticeable “step-up” in activity next year, even as concerns over supply overhang ... Read More
Sunway acquires George Town land for mixed-use development
Sunway Bhd has acquired a freehold land parcel in George Town, Penang, as part of a broader RM179.8 million investment to replenish its development landbank and strengthen its future project pipeline. In a statement, Sunway Bhd said the Penang acquisition involves a 0.42-hectare freehold site along Jalan Pangkor, purchased for ... Read More
Phased relocation underway for businesses affected by Mutiara Line LRT
The Penang government is coordinating the relocation of businesses affected by preparatory works for the Penang Light Rail Transit Mutiara Line, particularly hawkers and roadside traders located along the project alignment, ahead of the main construction phase scheduled to begin in January 2026. The Mutiara Line, which is expected to ... Read More
Penang to enforce community service orders for littering from July 1
Penang will begin enforcing community service orders for littering and other minor offences from July 1, following a six-month preparation period focused on public education, administrative coordination and enforcement readiness. State Local Government, Town and Country Planning Committee chairman Jason H'ng Mooi Lye said the state would enforce the Street, ... Read More
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