Property News

SITE PROGRESS: G’Vinton (Sep 2024)
About G'Vinton A serviced residence development by GSD Land in George Town. The project spans approximately 1 acre and is strategically positioned between Ambank and the NSTP building, offering convenient access to KOMTAR and Gurney Drive. The development will include 508 serviced suites, a nine-level car parking podium, and four shop ... Read More

Bandar Cassia Technology Park on track for 2026 completion
The construction of the Bandar Cassia Technology Park (BCTP) is on track, with full completion expected by 2026, according to Penang Chief Minister Chow Kon Yeow. Chow, who is also the chairman of the Penang Development Corporation (PDC), revealed that the project, which began in 2022, spans 303 acres of ... Read More

Batu Kawan Bridge set to open next month
The much-anticipated Batu Kawan Bridge, located near Batu Kawan Stadium, is expected to open to the public in October, according to Penang Chief Minister Chow Kon Yeow. The construction project, which began in December 2022, is now 85% complete. Although progress was briefly delayed due to a partial bridge collapse, ... Read More

SITE PROGRESS: Orange Industrial Park (Sep 2024)
About Orange Industrial Park A light industrial park development by Tah Wah Group at Chain Ferry, Butterworth. Located near prime industrial areas in Prai, adjacent to Southern Pipe Industry (M) Sdn. Bhd. It is easily accessible via Jalan Chain Ferry, about 15 minutes drive from Penang Bridge. It features 38 double-storey semi-detached ... Read More

MBSP to increase assessment rate for Seberang Perai properties in 2025
The Seberang Perai City Council (MBSP) has announced a revision to property assessment rates, effective 1 January 2025. This adjustment will see an increase of up to 5%, based on property categories, marking the first change since the current rate was introduced in 2020. Mayor Baderul Amin Abdul Hamid highlighted ... Read More

Benchmark Precision Technologies opens fourth facility in Batu Kawan
Benchmark Precision Technologies has officially expanded its operations in Penang with the opening of its fourth manufacturing facility. The new facility, located at Batu Kawan Industrial Park (BKIP), spans approximately 8,000 square metres and offers additional space for future development. This expansion complements Benchmark’s three other facilities in Bayan Lepas ... Read More

New urban renewal bill to lower consent thresholds for redevelopment
The government will draft a new bill on urban development, which will among others set "consent thresholds" for redevelopment. Presently, redeveloping a building requires a hundred per cent approval from residents. Housing and Local Government Minister Nga Kor Ming said this requirement could lead to unfairness if the majority of ... Read More

Tesla expands in Penang with new service centre, V4 supercharger, and vehicle deliveries
Tesla Malaysia has made a significant move to strengthen its presence in the northern region with the opening of a new service centre and workshop in Seberang Jaya. The facility, unveiled by Tesla regional director Isabel Fan, is equipped with cutting-edge body and paint services, designed to provide comprehensive support ... Read More

ELNA PCB expands operations in Penang with new facility
ELNA PCB (M) Sdn Bhd, a subsidiary of Global Brands Manufacture under the PSA Group, has officially opened its second facility in Penang’s Perai Industrial Zone. This expansion represents a significant investment exceeding RM1 billion and aims to further strengthen Penang's position as a global electronics manufacturing hub. The new ... Read More

Penang ranks fourth in unsold properties in 1H2024
Penang recorded 2,400 unsold residential units in the first half of 2024 (1H2024), placing it fourth among states with the highest property overhang, according to the National Property Information Centre's (Napic) report. The total value of unsold units in Penang amounted to RM2.02 billion, reflecting the ongoing challenges in the ... Read More
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