Malaysia Airports Holdings Bhd (MAHB) is ready to proceed with its plan to expand the Penang International Airport after getting the approval from the Ministry of Finance. Group chief executive officer Raja Azmi Raja Nazuddin said MAHB has been working on the expansion project over the past two years, bringing ... Read More

IJM Land Bhd is expected to start the construction work for its RM4bil The Light City project by the second quarter of next year. The property group had earlier planned to start construction for the integrated mixed development scheme, which is located near the Penang bridge, sometime this month. Senior ... Read More

The Home Ownership Campaign (HOC) 2019 which should end this month is extended until the end of December to open more opportunities for home ownership among Malaysians. Minister of Housing and Local Government, Zuraida Kamaruddin said the campaign launched by the Prime Minister, Tun Dr. Mahathir Mohamad has received a ... Read More

The Penang property market, over the short to medium term, is expected to be challenging as a result of strong incoming supply of new units. At the end of 2018, the incoming supply of housing rose to 49,543 units versus 44,046 units in 2017, an increase of 12.5%. The National ... Read More

From this year, owners of stratified properties in the state will have to pay parcel rent directly to their respective district and land offices. Chief Minister Chow Kon Yeow said the parcel rent, replacing quit rent for stratified properties, is effective from January this year. "Prior to this, the quit ... Read More

Aspen Group, through its subsidiary Aspen Park Hills Sdn Bhd, has acquired 29.05 acres (11.62 hectares) of land in Paya Terubong from Geo Valley Sdn Bhd to be developed into mixed-residential development. Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the seven pieces of freehold land would be ... Read More

There will be no increase in the price of cement, says Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail. The minister said the decision was made following a meeting with industry players on Tuesday (June 18). “I have been meeting with the stakeholders for the past few ... Read More

The Penang government will be submitting its application to the Federal Government to seek an allocation to fund the Penang Transport Master Plan (PTMP) once the necessary approvals are obtained. Chief Minister Chow Kon Yeow said the state welcomed the statement by Finance Minister Lim Guan Eng who had said ... Read More

The business community in Penang have raised concerns to the Finance Ministry over the 40% price hike in cement. Real Estate and Housing Deve­lopers’ Association Penang chapter chairman Datuk Toh Chin Leong said the increase would affect property prices. He said they were worried that the price hike could be ... Read More

Mega projects planned for the state, such as the RM46 billion Penang Transport Master Plan (PTMP) and Penang South Reclamation (PSR), may be modified, scaled down or even reviewed depending on the situation and change in circumstances. Chief Minister Chow Kon Yeow, however, insisted that both projects would not be ... Read More