Property News


Penang seeks funds for Penang Bay project

The Penang state government will be presenting its ambitious Penang Bay project at the 10th World Urban Forum (WUF10) to seek funding and ideas from investors, said state exco Jagdeep Singh Deo. The Local Government, Housing and Town and Country Planning Committee chairman will be leading a delegation to WUF10 ... Read More

SITE PROGRESS: Queens Residences (Feb 2020)

About Queens Residences Luxury waterfront development by Ideal Property Group at Bayan Bay with gross development value (GDV) of RM600mil. This development is located in front of BayStar Condominium, just stone’s throw away from Queensbay Mall. Find out more about Queens Residences ... Read More

Penang South Island to incorporate green and smart development

Chief Minister Chow Kon Yeow has assured that Penang will incorporate all the good practices of green and smart development for its proposed Penang South Reclamation (PSR) project. He said the massive 1,800ha reclamation project, which will see the creation of three man-made islands, would be climate-resilient. He said the ... Read More

Gurney Wharf to be ready by August 2021

The Penang state government expects the new waterfront on reclaimed land off Gurney Drive to be completed by August 2021, Chief Minister Chow Kon Yeow said today. He said the state government would sign an agreement this month, appointing consultants for the project, called Gurney Wharf. A tender would be ... Read More

Ideal to refurbish parts of Penang cruise terminal

Ideal United Bintang International Bhd has signed a memorandum of understanding (MoU) with Penang Port Commission to refurbish parts of Swettenham Pier Cruise Terminal (SPCT) in Penang Island. In a bourse filing today, Ideal said the project is to redesign and refurbish three buildings, namely Godown 5, Godown 7 and Godown 8, ... Read More

Tambun Indah to establish specialist hospital in Pearl City

Tambun Indah Land Bhd and Taiwan-based Show Chwan Medical Care Corp have entered into a memorandum of understanding (MoU) to jointly establish a private specialist hospital, Penang Show Chwan Hospital, at Pearl City in Seberang Perai Selatan, Penang. Pearl City is a township currently developed by Tambun Indah. In a filing to Bursa Malaysia ... Read More

Buying houses easier for local youths than those in nearby countries

A real estate expert claims that it is much easier for Malaysian youths to own property compared to their counterparts in neighbouring countries. Michael Geh, a senior partner with Raine & Horne Malaysia, said young people in Thailand, Indonesia, Laos and Cambodia could not “even dream of buying houses” because ... Read More

Bank Negara MPC cuts OPR by 25bp to 2.75%

Bank Negara Malaysia's Monetary Policy Committee (MPC) reduced the Overnight Policy Rate (OPR) by 25 basis points to 2.75% -- the lowest since 2011. The reduction in the OPR surprised economists who expected the MPC to retain the OPR at 3%. After the statement was announced at 3pm, shares of ... Read More

PR1MA and Ideal to jointly affordable housing at Gelugor

Ideal United Bintang International Bhd's wholly-owned subsidiary Ideal Capital Venture Sdn Bhd had today signed a head of terms with PR1MA Corp Malaysia to jointly develop RM828.6 million worth of properties at Penang's Bandar Gelugor. In a statement to Bursa Malaysia today, Ideal United said Ideal Capital and PR1MA plans ... Read More

SITE PROGRESS: Forest Ville (Jan 2020)

About Forest Ville A twin towers freehold project by Ideal Property Group in Bayan Lepas, Penang. Located on an 11-acre land, the two towers were part of One Foresta affordable housing scheme located along Lengkok Kelicap. It comprises 991 condominium units with size ranging from 1,000 sq.ft. to 1,050 sq.ft. Schools, financial ... Read More