Property News


PR1MA housing may be dissolved

The future of the 1Malaysia People’s Housing (PR1MA) depends on the outcome of its due diligence and turnaround plan, said chairman Tan Sri Eddy Chen. "We are working on a turnaround plan. Whether PR1MA will move forward or not, much depends on this turnaround plan," he told press at an ... Read More

Penang to study Airbnb woes before legalising them

How other cities worldwide tackle their Airbnb problems are being studied to see if the home-sharing business could be legalised or regulated in Penang. The office of the Penang State Exco for Tourism Development, Arts, Culture and Heritage (Petach) is studying their policies to tackle the issue of residential home ... Read More

Cable stay bridge for Pan Island Link 1

Part of the highway under the Pan Island Link 1 (PIL 1) project that would pass through the City Park in George Town, Penang, will be in the form of a 250m-long cable stay bridge. Chief Minister Chow Kon Yeow said studies had shown that such a design would have ... Read More

10% drop in unsold residential properties in Penang

Malaysia has recorded a total of 32,313 units of unsold completed residential properties in 2018 valued at about RM19.8 billion. This is a 30.6% increase from 24,738 units recorded in 2017, according to the National Property Information Centre’s (Napic) Property Market Status Report for 2018. The highest number of unsold ... Read More

Botanica.CT Redefines Better Living in Balik Pulau

Located in southwest district of Penang island, Botanica.CT is a self-sustaining 300-acre garden township development by MTT Properties Sdn. Bhd. in Balik Pulau. Once being known as a home to an aging population, Balik Pulau has embraced urbanization in the past few years with modern amenities mushrooming within the vicinity ... Read More

Refer to Finance Ministry if home loan application rejected

Action will be taken against banks who “deliberately” do not give out housing loans to those who are eligible or who fulfill the criteria. “If you have difficulty getting loans, refer to MoF (Ministry of Finance),” advised Finance Minister Lim Guan Eng, telling homebuyers to escalate their grievances to the ... Read More

Construction of the Air Itam – LCE Expressway bypass will start Sept 1

After years of delays, construction of the elevated highway from Air Itam to Tun Dr Lim Chong Eu Expressway will start on Sept 1. The highway is a vital road for some 300,000 Penangites living in the most densely populated part of the island. The Yang di-Pertua Negri Tun Abdul ... Read More

Penang Govt optimistic of moving forward with urban regeneration projects

The Penang government is looking forward to positive news from the Federal Government concerning the implementation of urban regeneration projects in the state. State Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said they are waiting for Putrajaya to guide them forward in their efforts towards ... Read More

Penang CM: No approval on PSR yet

Chief Minister Chow Kon Yeow has clarified that there is no approval yet for a plan to reclaim three man-made islands off the southern coast of Penang island. He said the state government must follow the 18 points of advice set by the federal government. “I did not say that ... Read More

Federal Government approved Penang South Reclamation project

The National Physical Planning Council (NPPC) has approved the proposed Penang South Reclamation (PSR) project to create three islands off the southern coast of the main island. Penang Chief Minister Chow Kon Yeow, in a brief statement, confirmed that the NPPC had agreed to the implementation of the project as ... Read More