Property News

Penang’s first urban regeneration project to begin early next year
The urban regeneration programme at ‘5 Point Blocks’ flats in Lorong Mahsuri 10, Bayan Baru is expected to begin early next year, says state Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo. Jagdeep said phase one of the project involves building a total of 345 units of ... Read More

Lam Research opening its largest manufacturing plant at Batu Kawan
Chief Minister Chow Kon Yeow today congratulated Lam Research Corporation on the official opening of its latest and largest manufacturing facility in Batu Kawan, the first wafer fabrication equipment maker to have set up their business with a manufacturing plant in Malaysia. The corporation has invested RM1 billion in its new ... Read More

Underpass in Gelugor to close for maintenance
The Udini underpass in Gelugor, Penang, will be closed during certain hours for six days to undergo maintenance. Penang Island City Council said in a statement that the underpass between Jalan Masjid Negeri and Jalan Tunku Kudin would be off limits to all vehicles from Aug 14 to Aug 19 from ... Read More

South Korea’s Simmtech to invest RM507.6mil in factory at Batu Kawan
South Korean semiconductor giant, Simmtech Holdings Inc., has chosen Penang as the strategic location to build its ‘first in the region’ printed circuit board (PCB) and packaging substrate factory. Simmtech’s Phase One investment in Penang, through its subsidiary Sustio Sdn Bhd, is US$120 million (RM508 million). Simmtech Southeast Asia managing ... Read More

More homeowners selling property for cash flow
Malaysia’s property supply growth in the market spiked by 34.53 per cent year-on-year (YoY) and 11.94 per cent quarter-on-quarter (QoQ) in the second quarter of 2021 (Q2 2021), driven by more homeowners selling property for cash flow, according to PropertyGuru’s latest Malaysia Property Market Index (MPMI). In a statement, PropertyGuru ... Read More

Peacock Eco Park is expected to be ready in Penang by December
The construction works of the first-ever aviary or a mini zoo in Penang that specialises in raising peacock is expected to be completed in December this year. Known as Peacock Echo Park, it is located at Taman Kimsar in Prai. Seberang Perai City Council (MBSP) councillor David Marshel said once ... Read More

Property prices not necessarily be affordable post-Covid
Property prices might not necessarily be more affordable post-Covid-19 due to market changes and wage growth, the housing minister said. Housing and Local Government Minister Datuk Zuraida Kamaruddin said the economic crisis brought on by the Covid19 pandemic saw the housing market, labour and financial sectors going through adjustments. As a ... Read More

Developers can now operate during Phase 1 & 2 of NRP
Housing developers will be allowed to operate under Phase 1 and Phase 2 of the national recovery plan effective immediately. In a statement today, the housing and local government ministry said this is applicable to housing developers which have valid housing development licences and advertisement and sales permits (APDL) under ... Read More

e-Tanah land administration system to be expanded to other states
The e-Land system implemented through a public-private partnership (PPP) arrangement will be expanded to other states after it was proven successful in increasing the quality and efficiency of land administration in Kuala Lumpur. Prime Minister Tan Sri Muhyiddin Yassin (pic) said the system would be expanded to the Federal Territories ... Read More

More hotels in Penang turned Covid-19 quarantine centres
Several hotels nationwide have put aside their core business and have stepped in to assist the country in its efforts to combat the Covid-19 pandemic by turning their premises into Covid-19 quarantine centres. Just a month ago, two hotels in Penang decided to operate their premises as quarantine centres. They are ... Read More
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