Zuraida Kamaruddin has reiterated that the Malaysia My Second Home (MM2H) programme for unsold luxury homes encompasses all foreign buyers and is not confined to purchasers from China. She said the campaign is to solve the glut of unsold luxury homes. "I have to set the record straight because the ... Read More

Condominium and apartment units priced between RM200,000 and RM300,000 dominate the list of property overhang in the country, mainly contributed by those in Perak and Kedah. Deputy Finance Minister Datuk Wira Amiruddin Hamzah said condominium and apartment units made up 43 per cent of the total property overhang in the ... Read More

While the Real Property Gains Tax (RPGT) is not likely to be removed in the upcoming Budget 2020, Alliance Bank Malaysia Bhd expects the rate to be reduced amid the current lacklustre property market conditions. Group’s chief economist Manokaran Mottain said the current rate at 24% was slightly higher than ... Read More

Celesta Residency is a modern and low density with 89 units condominium that exudes a high level of opulent sensation for those who seek for distinctive and luxury lifestyle. Filled with opulence in every aspect, Celesta Residency exudes great excellence in style fits for individuals and families that long for ... Read More

Ideal United Bintang International Berhad (IUBIB) has announced to Bursa Malaysia its proposed acquisition of 1st Avenue Mall in George Town at RM153 million last week. The company’s subsidiary, I Homes Properties Sdn Bhd (IHomes), entered into a conditional sales and purchase agreement with 1st Avenue Mall Sdn Bhd (1AMSB) ... Read More

Penang Island is sometimes known to have some resemblance to Singapore. Both Penang Island and Singapore are separated from the mainland by a narrow strait with a lack of land for development. The government in both Penang Island and Singapore generally encounters similar challenges whenever there is a need to ... Read More

Land is a scarce resource on Penang island. Luckily, in these modern times, we do not have to go to war to seek territorial expansion. There is something called reclamation, which is common in the world nowadays. For Penang, reclamation is nothing new as it was done in Bayan Lepas ... Read More

Seberang Perai became the nation’s 14th city today, and its outgoing municipal council president, Datuk Rozali Mohamud, was appointed mayor. The Seberang Perai Municipal Council (MPSP) was officially declared the Seberang Perai City Council (MBSP) by Penang Yang di-Pertua Negri Tun Abdul Rahman Abbas in conjunction with Malaysia Day. The ... Read More

Penang property owners have to be prepared to pay higher assessment rates next year as the state’s two local councils review the rates to counter increased expenditures. All property owners will receive the notices on the increase this month, and they have up to October 14 to send in appeals ... Read More

The proposed Penang undersea tunnel project report submitted for review by the technical consultant is over 90% complete and there’s no plan to stop the projects. We have also touched on the Penang Sky Cab cable car project, which will link Seberang Prai to the island. In the interview below, ... Read More