Property News


i-Biaya to help increase home ownership among M40 and B40

The government will assist low-income families to have their own homes through the Malaysia Housing Financing Initiative (i-Biaya) which was launched two days ago. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) said the government is aware that individuals with no fixed income or payslip would face difficulties ... Read More

Penang had the third highest number of residential property overhang in 2021

According to the Property Market Report 2021 by the National Property Information Centre (Napic), residential property overhang increased to an all-time high last year of 36,863 units worth RM22.79 billion, marking a 24.7% increase in volume and 20.5% rise in value compared with 2020. Napic defines “overhang” as residential units ... Read More

China’s Cainiao eyes Penang for proposed distribution park

China-based Cainiao Smart Logistics Network Ltd plans to set up a distribution park in Batu Maung, Penang to capitalise on the strategic location and global surge in e-commerce. The logistics company, an affiliate of Alibaba Group Holding Ltd, today inked a memorandum of understanding (MoU) with the Penang Development Corporation ... Read More

Road project at Jalan Bukit Minyak Utama to finish in November next year

The road widening works in Jalan Bukit Minyak Utama from Kota Permai junction to the Jalan Rozhan junction in Bukit Mertajam are expected to be completed by Nov 30, 2023. Machang Bubuk assemblyman Lee Khai Loon said the road widening works started on Jan 28 this year. “We are confident ... Read More
Bertam aerial view

Seberang Perai set to become the next big thing in tourism

Penang's mission of diversifying tourism offerings on the mainland took a major step today after the launch of the ‘Opposite Side of the Island – Seberang Perai campaign’ at Iconic Hotel in Bukit Mertajam. As part of the ‘Experience Penang’ campaign, the highlight of today’s launch was the Seberang Perai tourism ... Read More

SITE PROGRESS: GEM Residences (Apr 2022)

About GEM Residences GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company's 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region - GEM Mall, the tenant mix include ... Read More

Suria 2 affordable housing project at Batu Kawan to begin construction works soon

The Penang government today announced that the Penang Development Corporation’s (PDC) latest affordable housing project in Batu Kawan, called Suria 2, will have its construction works begin in Dec this year. Suria 2, which will cover 7.48 acres of total land size, is part of the 25 phases planned under the ... Read More

House ownership remains a major concern for Malaysian youths

House ownership remains among the top concerns for youths according to the first edition of the Youth Aspiration Manifesto Survey. The three-part survey carried out by Architects of Diversity (AOD) in collaboration with Undi18 and UndiNegaraku comprised 3,089 respondents aged 18-30 nationwide. AOD co-founder Jason Wee said the findings showed ... Read More

Penang to continue with the TPM80PP maintenance scheme for public and private housing

Penang government has spent a total of RM297.57 million involving 32,582 maintenance works at both the public and private housing schemes from 2008 until April 1 this year. State Local Government, Housing, Town, and Country Planning Committee chairman Jagdeep Singh Deo said the state had spent a total of RM52.59 ... Read More
market-recovery (1)

Residential overhang due to poor project planning and research by property developers?

Is the country's residential overhang the result of inadequate project planning and research by property developers? "Some properties are just not cleverly developed," said Chan Ai Cheng, president of the Malaysian Institute of Estate Agents (MIEA). She claimed that this resulted in low demand for such properties and had nothing ... Read More