The Penang state is mulling various avenues to finance the operation of the rail system that forms part of its Transport Master Plan (TMP), among which is the set-up of a revolving fund with recurring rental revenue from property leasing once its planned 3,000-acre (1,214ha) land reclamation in the south ... Read More

Ewein Bhd’s subsidiary is buying 50 acres of land at Bandar Tanjong Pinang, Penang for RM2.83bil for a proposed “Wellness City of Dreams” resort. The Penang-based property company said on Friday its 60% owned Ewein Zenith Sdn. Bhd had inked a memorandum of agreement to buy the land from Consortium ... Read More

Consortium Zenith BUCG Sdn Bhd (CZBUCG), the main contractor for the RM6.3 billion undersea tunnel project in Penang, will commence the construction on June 15, slightly later than its original schedule. The construction of the mega project is expected to begin in the first quarter of this year. CZBUCG chairman ... Read More

Looking at the Penang property market, all property transactions in the state saw fluctuations throughout the whole 2014 before it dipped in 2015. The first quarter of 2014 recorded a total 6,416 transactions (valued at RM3.78 billion). It increased to 6,513 transactions valued at RM3.44 billion in the second quarter ... Read More

The Real Estate and Housing Developers’ Associa-tion (Rehda) Penang has been urged to play a bigger role in helping local developers obtain the advertising permit and developer licence (APDL) for their projects. It was reported in The Star that 47 out of 81 applications for the licence for state government ... Read More

Let us have a comparison between apple and orange. If you have a budget of about RM700,000 to RM800,000, which of these two projects would you buy? Eco Meadows offers an exclusive landed living in a less branded location while Skyridge Garden suggests a condominium living in a glamorous island ... Read More

Penang has received its first two Perumahan Rakyat 1Malaysia (PR1MA) applications to undertake affordable housing projects involving 2,600 units. The applications are for a project in Batu Ferringhi (1,520 units) and another in Kampung Kastam, Bukit Gelugor (1,124 units). State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo ... Read More

The final cost of the Penang Transport Master Plan (PTMP) could balloon to more than the estimated RM27 billion once all the plans — including for the elevated rail system alignment — and the relevant detailed studies are completed, with federal approvals obtained. Gamuda Bhd-led SRS Consortium project delivery partner ... Read More

Lectures on property among expo’s highlights The Penang Property Summit 2016 will take place from Friday to Sunday for the second year running at the Subterranean Penang International Convention and Exhibition Centre. With over 30 exhibitors at the three-day event, it will kick-start on Friday with an International Real Estate ... Read More

Penang-based Aspen Group has set a sales target of RM1 billion this year after recording sales of RM900 million last year. Aspen Group CEO Datuk M Murly (pictured) said the target will be achieved through four launches worth more than RM2 billion this year, including its maiden venture outside the ... Read More