The Penang state government has endorsed Eastern & Oriental Bhd’s (E&O) masterplan for the second phase of its Seri Tanjung Pinang (STP) project. In its filing with Bursa Malaysia, E&O said its subsidiary Tanjung Pinang Development Sdn Bhd was notified yesterday that its masterplan for STP phase two had been ... Read More

With a landbank of 1,793.97ha and total gross development value (GDV) of RM43.52bil, Eco World Development Group Bhd offers a wide range of residential, commercial and industrial products with thoughtful architecture and sustainability elements. Its current projects are mainly located in the Klang Valley, Iskandar region, and Penang. In the ... Read More

In a move to further curb property speculation, developers who sell more than four residential units to a single person or a company must now register the purchaser with the housing controller within 14 days of the sale-and-purchase (S&P) agreement being signed. This new requirement is expected to improve transparency ... Read More

THE predictable announcement by Prime Minister Datuk Seri Najib Tun Razak on Oct 25, 2013 that the Goods and Services Tax (GST) will take effect from April 1, 2015, bundled with several other measures will certainly have an impact on the property market. Most property developers have started to feel ... Read More

The rise of new developments will transform the landscape of the Pearl of the Orient even more dramatically in the years to come. Penang has become one of the most sought-after areas for residential developments in recent years, thanks to the constantly improving transportation links, political stability, booming manufacturing sectors ... Read More

Aspen Group Holdings Sdn Bhd’s RM400mil Tri Pinnacle project will be the first affordable housing scheme on Penang island with a high quality ambience. Its chief executive officer Datuk Manokharan Murly said the project, located on a 4ha site in Mount Erskine in Tanjung Tokong, was open to first-time house ... Read More

ASPEN Group Holdings Sdn Bhd plans to launch RM2.1bil worth of residential and commercial properties in Penang later this year and next year. The projects are the RM780mil first phase of Aspen Vision City in Batu Kawan, the RM400mil Tri Pinnacle in Tanjung Tokong, the RM700mil HH Residence in Tanjung ... Read More

Errant housing developers can now be hit with hefty fines and jail terms if they abandon their projects. Under the amendments to the National Housing Development (Control and Licensing) Act 1966, which would take effect from June, developers of abandoned projects may be fined RM500,000 and jailed for up to ... Read More

Penang Development Corporation (“PDC”) inked a Memorandum of Understanding (“MOU”) with Temasek and Economic Development Innovations Singapore Pte Ltd (“EDIS”) on 23 May 2014. PDC and Temasek intend to form a joint-venture company to develop Penang International Technology Park (“PITP”) and Business Process Outsourcing Prime (“BPO Prime”). PDC will hold ... Read More

THE Federal Government has bought 80.94ha of land in Teluk Bahang for the 1Malaysia People’s Housing Scheme (PR1MA), said Datuk Shah Headan Ayoob Hussain Shah (BN -Teluk Bahang). He said he had checked with PR1MA Corporation Malaysia which confirmed that the land had been bought for the Federal Government’s initiative ... Read More