Property News

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 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

Dr Teng: We’ll address issue of affordable housing
GEORGE TOWN: Penang Gerakan plans to address the issue of affordable housing in Penang since the present prices are beyond the reach of many local residents.State chairman Datuk Dr Teng Hock Nan said yesterday most of the property prices in Penang were now beyond the means of many middle-income wage ... Read More

More restrictions to ease property bubble?
THE rising prices of houses is still one of the hot topics among average Malaysians as the threat of higher inflation is growing by the day.The fact that Bank Negara had early this month imposed a lower loan-to-value ratio (LVR) for those taking up their third and subsequent mortgage loan ... Read More

Gurney Plaza extension bought for RM223m
AmTrustee Bhd, a trustee of CapitaMalls Malaysia Trust (CMMT), has entered into a conditional sale and purchase agreement on behalf of it, to acquire Penang's Gurney Plaza Extension for RM223.3 million.CMMT is managed by CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM).CMRM chief executive officer Sharon Lim said the purchase is ... Read More

Malaysia set to keep rates unchanged
Malaysia’s central bank will probably keep interest rates unchanged for a second consecutive meeting to support its economy as global growth weakens and inflation eases.Bank Negara Malaysia will leave its benchmark overnight policy rate at 2.75 per cent tomorrow, according to all 16 economists surveyed by Bloomberg News. The central ... Read More

Creative Furnishing set for regional tie-ups
PENANG-based furniture exporter Creative Furnishing Sdn Bhd is set to sign several joint-venture arrangements with its suppliers in the region. Its managing director Stanley T.C Chew said the tie-ups are expected to be firmed up by early 2011 and that the move was to ensure that better quality control is ... Read More

Mah Sing: Local property market sustainable
KUALA LUMPUR: Mah Sing Group Bhd is confident the local property market is sustainable as the current buying activities are backed by economic fundamentals and genuine purchasers.“Despite Bank Negara’s measure to cap the loan-to-value ratio at 70% for third and subsequent house purchase, the prevailing low interest rate, healthy employment ... Read More

New homes soon for Buah Pala folk
FORMER Kampung Buah Pala residents can expect to move into their new homes by early next year, ahead of schedule.Deputy Chief Minister II Dr P. Ramasamy said that construction of the houses would be completed in January and the families could expect to move in after the occupancy certificate is ... Read More

Buyers to pay more after second house
KUALA LUMPUR: Malaysians have to fork out more money from today to buy more than two houses after Bank Negara slammed the brakes on property speculation.The central bank announced with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70% for people buying their third or more house, ... Read More
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- Affordable Housing (Penang Island)
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