Despite facing severe criticisms over four mega projects totalling RM6.3bil, the Penang Government is pushing forward with the signing of an agreement. Chief Minister Lim Guan Eng said that the agreement would be signed tomorrow with the related companies here. It is learnt that the Environmental Impact Assessment would be ... Read More

A TOTAL of 1.7 million sq ft of office space is expected to be built and completed as the new business process outsourcing (BPO) hub in Penang within the next three to five years. Penang Chief Minister Lim Guan Eng said the state government had set aside about 6.88ha of ... Read More

Hunza Properties Bhd expects about RM1.4bil in revenue from its three mixed development projects in Tanjung Bungah, Seberang Perai and Kepala Batas over the next three years. Executive chairman Datuk Khor Teng Tong said Hunza would be focusing on its key property market in the northern region where the group has about 364.2ha ... Read More

The Real Estate and Housing Developers’ Association Malaysia (Rehda)’s immediate past president Datuk Ng Seing Liong has ruled out that house prices are increasing by double digits. Reports of rising property prices are not reflective of the entire market situation as prices are increasing only in selected areas due to strong ... Read More

THE tender to build 694 affordable high-rise units in Teluk Kumbar, Penang, is now open. The project by Penang Develop-ment Corporation Properties Sdn Bhd (PDCP), which is the state government’s construction arm, is open to local contractors for bidding. PDCP chairman Wong Hon Wai said the proposed site for the ... Read More

The second Penang bridge is scheduled to be completed on Nov 8 as agreed between the concessionaire, Jambatan Kedua Sdn Bhd (JKSB), and the Federal Government. JKSB public relations and communications deputy manager Azizi Azizan said the bridge was initially expected to be completed in September, two months ahead of ... Read More

Group to launch various developments on 1,214ha land bank, focusing on Klang Valley, Johor and Penang Eco World Development Sdn Bhd, a company set up by former directors and executives of S P Setia Bhd, is looking to launch projects with a gross development value (GDV) of RM30bil on 1,214ha of ... Read More

THE state government together with the Penang Development Corporation (PDC) will carry out eight affordable housing projects, said state Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo. “Three projects will be on the island and five on the mainland. “The projects will provide nearly 20,000 affordable housing units ... Read More

People looking to own a house any time soon will have to pay at least 10% more for their dream home, according to developers. They said the increase was due to the double whammy that has hit the construction industry – higher costs of building materials resulting from the 20 ... Read More

Property developers say increasing house prices are due to high compliance and construction costs. They also attribute the rising cost to government agencies, especially local authorities and utility companies, said Real Estate and Housing Developers' Association Malaysia (Rehda) deputy secretary-general (Melaka branch) Datuk Anthony Adam Cho. According to Cho, the ... Read More