Property News

Penang Waterfront Convention Center expected to complete in 2025
Penang is well on its way to becoming a premier destination for conventions and tourism with the Penang Waterfront Convention Center's construction in full swing. According to State Tourism and Creative Economy Committee chairman Wong Hon Wai, the convention center is expected to have its grand opening in mid-2025. This ... Read More

BNM keeps OPR at 3%
Bank Negara Malaysia (BNM) has maintained the overnight policy rate (OPR) at 3% despite the ringgit plunging to a 25-year low against the US dollar. The decision was announced today following the central bank’s two-day monetary policy committee (MPC) meeting. In a press statement, BNM said that maintaining the OPR ... Read More

SITE PROGRESS: Terraces Condominium (Oct 2023)
About Terraces Condominium A highrise residential development by IJM Land at Bukit Jambul, Penang. Strategically located on 9.32 acres of land next to INTI International College. It comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from. (Photo taken in Oct 2023) Find out more ... Read More

Foreigners own less than 1% of residential properties
Residential property worth more than RM2bil was either bought or had their ownership transferred to foreigners over the past year, says Nga Kor Ming. The Local Government Development Minister said this represented less than 1% of total residential property transactions from 2022 to June 2023. The bulk of transactions, totaling ... Read More

Penang Transport Master Plan a strong catalyst
Construction companies and property developers with exposure to Penang are set to benefit tremendously from the extensive development in the state. According to TA Research, the Penang Transport Master Plan (PTMP) could be a strong growth catalyst for both the construction and property development sectors in the country. With various ... Read More

Rent-to-Own scheme to be expanded to allow B40, M40 groups to own homes
The government will expand the Rent-to-Own scheme to enable more people from the B40 and M40 groups to own homes. Local Government Development (KPKT) Minister Nga Kor Ming (pix) said cooperation with financial institutions will be continued to provide attractive and sustainable housing financing packages. “The ministry (KPKT) through PR1MA ... Read More

Sedusun Tech Valley to receive RM50 million boost
Sedusun Tech Valley, which is set to be a new agrotourism centre in Relau, on Penang island, is set to receive a RM50 million boost from the Economy Ministry. The Sedusun Tech Valley project is one of the Penang government's strategic projects, in collaboration with the Northern Coridor Implementation Authority ... Read More

Ideal Property Group expands Penang Technology Park @Bertam with Zestron Precision Cleaning
Ideal Property Group, a leading real estate developer, is delighted to announce a significant development in the expansion of Penang Technology Park @ Bertam, as it signs a Sale and Purchase Agreement (“SPA”) with Zestron Precision Cleaning Sdn. Bhd. This partnership marks a momentous step forward for both companies and ... Read More

Build-then-sell housing delivery system to heal ‘sick’ projects
The Ministry of Local Government Development (KPKT) plans to implement a build-then-sell (BTS) housing delivery system rather than a sell-then-build (STB) delivery system next year, to reduce the number of “sick” or delayed housing projects. KPKT Minister Nga Kor Ming said the ministry will work together with the Real Estate ... Read More

Penang International Aiport expansion to start next year
The expansion of Penang International Airport (PIA) is expected to take place in the third quarter of 2024. State Tourism and Creative Economy Committee chairman Wong Hon Wai said the expansion would take about four years to complete. “The next Visit Malaysia Year has been set for 2026 and it ... Read More
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- @Penangite The federal is doing research and studies on the research and studies of Penang...Engineer on Penang LRT project is on track
- @Minion @millionaire FYI only. Pier almost sold out about 85%. Q3 still waiting for buyer...Hee Chan on The Pier
- @Minion I'm owning of Q1 & Zen6. But still anticipated for Zen6 as not under...Hee Chan on The Pier
- vivi : Anyone signed the S&P already? no 2nd half of 2024 ...CK on The Pier
- How can we get to the developer??? ...Amy on Affordable housing @ Jelutong (formerly known as Mutiara Rini & Mutiara Ria)
- Can we buy direct from developer??? ...Amy on Affordable housing @ Jelutong (formerly known as Mutiara Rini & Mutiara Ria)
- @QW agree with what u said. same thinking ...lEE on Queens Residences 3
- that time i make booking for Quaywest they already 700k Years 2012 (not the affordable...lEE on Queens Residences 3
- @Hee Chan quywest finishing is very bad. i remember when i did booking for Quaywest...lEE on Queens Residences 3
- I am interested if the house is 200k ...unasekaran Krishnan on The Skyline
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OTHER DEVELOPMENTS
- Affordable Housing (Penang Island)
- Butterworth Arena
- Columbia Asia Medical Centre
- Eco-Tourism Hub @ Batu Kawan
- Escape Penang – Eco Theme Park
- GBS @ The Waterfront
- GBS by The Sea
- Gurney Wharf
- IKEA Batu Kawan
- Island Medical CIty
- Kobay Jelutong
- Lin Xiang Xiong Art Gallery
- Linear Waterfront
- Mitsui Outlet Park @ PIA
- One Auto Hub @ Batu Kawan
- Penang Arts District
- Penang Eastern Seafront Development
- Penang Medical & Digital Technology Hub
- Penang Premium Outlets (Design Village)
- Penang Sentral
- Penang South Islands
- Penang Transport Master Plan
- Penang Waterfront Convention Centre
- Penang World City
- PIA Expansion
- Silicon Island
- Teluk Bahang Wellness Resort
- The Ship Campus (ALC College)
- The Top @ Komtar
- Wellness City of Dreams