The calculation for late delivery payment to house buyers begins from the date the booking fee is paid, and not when the sale and purchase agreement (SPA) is signed, the Federal Court ruled today. Chief Justice Tengku Maimun Tuan Mat said the Housing Development (Control & Licensing) 1966 and its ... Read More

Last year had been extremely challenging for the overall market, including real estate, due to the prolonged Covid-19 pandemic and it continues to disrupt lives, economies, and societies globally. Homebuyers and investors held on to their money due to the certainty in the market and because of that many developers ... Read More

DBS Group Research is predicting Bank Negara Malaysia (BNM) to cut the overnight policy rate (OPR) by another 25 basis points (bps), which would bring the interest rate to a new low of 1.5%, in the forthcoming monetary policy meeting scheduled for Jan 20 next week. The move is expected ... Read More

The Penang government plans to extend the House Ownership Campaign (HOC) to the year-end following implementation of the movement control order (MCO) and imposition of Emergency which is expected to continue until August. State Housing, Local Government and Town and Country Planning Committee chairman, Jagdeep Singh Deo said this measure ... Read More

All parks in Penang, including Botanic Gardens, will be closed as of Friday (Jan 15). This follows some confusion when the movement control order was re-imposed on Wednesday (Jan 13) and some public recreational parks in the state remained open for people to go jogging alone. State youth and sports ... Read More

About 3 Residence Mixed development by IJM Land at Sungai Pinang. It is strategically located along Lebuh Sungai Pinang 1, easily accessible via Tun Dr. Lim Chong Eu Expressway. Offering a mix of residential and commercial components, which comprises a 47-storey skyscraper, hotel and shop offices. Find out more about 3 Residence Register your interest ... Read More

Private developer Eco World Development Group Bhd has called off a proposed merger with government-linked property developer UEM Sunrise Bhd. The merger, if realised, would have resulted in one of Malaysia’s largest real estate companies by market value. In a statement, EcoWorld chairman Liew Kee Sin said the decision was ... Read More

Penang Chief Minister Chow Kon Yeow today called for cooperation from all Penangites to ensure the successful implementation of the two week-long Movement Control Order (MCO) beginning Wednesday. "We have to accept the decision made (to implement the MCO). "This is a necessary move due to the escalating Covid-19 cases, ... Read More

The Penang government has called for a request for proposal for a privately-funded cable car service up Penang Hill after the federal government canceled its RM100 million allocation for the project. Chief Minister Chow Kon Yeow said the cable car project will proceed through collaboration with the private sector. “We ... Read More

Work will finally begin next month on a RM851 million elevated bypass road, one of three projects that are part of the controversial RM6.3 billion Penang undersea tunnel project. A groundbreaking for the bypass was held in October 2019 but there had been little sign of the project taking off, ... Read More