Property News


Penang developers to scale back new property launches as costs soar

Developers in Penang will delay some new residential projects in the state this year as labour and materials costs continue to rise. Real Estate and Housing Developers’ Association (Rehda) Penang branch chairman Khoo Teck Chong said the number of new launches this year could be up to 60 per cent ... Read More

Mah Sing’s Southbay stands to benefit from the approval of PSI project

MIDF Research has placed a positive outlook on Mah Sing Group Bhd following the final approval given to the Penang South Islands (PSI) project by federal environmental regulators. The research house yesterday maintained its “buy” call on the property development group, with a target price of 75 sen. “We remain positive ... Read More

Island Plaza to be rebranded as “Island 88”

The once upon a time buzzing Island Plaza in Tanjong Tokong is set to take the limelight once again after a Hong Kong businessman snapped up the iconic landmark and has vowed to make the place great again! It will be renamed ‘Island 88’. Since the emergence of new shopping ... Read More

Penang South Islands project gets EIA green light

The Environmental Impact Assessment (EIA) report of the Penang South Islands (PSI) project has received conditional approval from the Department of Environment (DoE) under the Ministry of Natural Resources, Environment and Climate Change. Chief Minister Chow Kon Yeow said the approval includes 71 conditions to be complied with. “The Penang State ... Read More

Subsidised cement price to be offered to affordable housing developers

A reasonable cement price will be offered to housing developers who develop affordable housing under the RM300,000 category, Prime Minister Datuk Seri Anwar Ibrahim said. “This will benefit the B40 and the M40 groups as it will see a maximum reduction of RM5,000 in the house price depending on the ... Read More

SITE PROGRESS: Sanctuary Terrace (Apr 2023)

About Sactuary Terrace A residential development by IJM Land at Alma in Bukit Mertajam. Located on 8.9 acres of land along Jalan Santuari 2, about a 20-minute drive to both Penang bridges. Nearby amenities include AEON Mall, Tesco Hypermarket, eateries, schools and banks. This development will offer 95 units of 2-storey terrace houses. (Photos taken in Mar ... Read More

Penang’s 5 most expensive residential properties sold in 2022

Have you ever wondered how much those bungalows in Penang are worth? Or perhaps, where the most expensive houses are located on the island? Let's delve into the details and take a closer look at the top 5 most expensive residential properties that were sold in Penang in 2022. #5 ... Read More

E&O Unveils ‘Human Living’ Digital Series Featuring Malaysia’s Talents

Eastern & Oriental Berhad (E&O), the premier lifestyle property developer, has released “Human Living”, a digital documentary series that offers valuable insights and perspectives from some of the country’s brilliant thinkers, entrepreneurs and artists in rethinking where and how we live. The 3-episode series, which will be released monthly on ... Read More

Government agrees to review MM2H criteria

The government has agreed to review the strict terms and conditions for the Malaysia My Second Home (MM2H) programme which has led to many who opted to adopt this country as their second home to leave and the number of new applicants drop by up to 90 per cent. The ... Read More

SITE PROGRESS: Lucerne Residences (Apr 2023)

About Lucerne Residences The final phase of residential development by Ideal Property Group at Ideal Vision Park in Bayan Lepas. It is just a short drive to Penang International Airport, 10 minutes walking distance to Straits International School. The project will see two blocks of 36-storey skyscrapers featuring a European living concept. It offers 480 ... Read More