The Priority One (Phase One) of the iconic Gurney Wharf project is expected to be completed in March next year. State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the RM200 million project, which is an initiative of the Penang government, has several components. They are ... Read More

Houses worth from RM500,000 to RM1mil will enjoy an increase in stamp duty exemption from 50% to 75% until Dec 31, 2023. Stamp duties for the transfer of property between families is subject to a stamp duty of RM10. The allocation for building new and renovating houses in rural areas ... Read More

State Local Government, Housing, Town, and Country Planning Committee chairman Jagdeep Singh Deo announced that Penang Home Ownership Campaign (HOC 3.0) will be extended for one more year from January 1 to December 31, 2023 to help first-time buyers achieve their home ownership dream and to help developers promote affordable housing. He said the ... Read More

About Iconic Regency A mixed development by Iconic Development Sdn. Bhd. at Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, next to SK Sungai Nibong. It is only 10 minutes walk to two future LRT Stations – Sungai Nibong & Pesta Stations. Featuring a 42-storey serviced suites with 268 fully furnished ... Read More

Tenaga Nasional Berhad (TNB) has launched a RM500mil project to boost electricity supply in Penang. The project will see direct connection of supply from the national grid to Penang through overhead line transmission. Slated for completion in 2024, the 275kV overhead line transmission will be in parallel with Penang Bridge through ... Read More

Property analysts and housing developers said any further interest rate hike on the property sector will be minimal and only create headwinds in the short term. They said a rate hike would undoubtedly dampen consumer sentiment, but this could be mitigated by strong economic growth. AmBank Research equity research analyst ... Read More

The revised Special Area Plan (SAP) for George Town Unesco World Heritage Site, now up for public viewing, will ensure the township is sustainable. The plan included a review of land use trends and proposals for appropriate development without affecting the value of the area, said Nazri Abdullah. The deputy ... Read More

The world-leading Sweden-based construction tech company Scandinavian Industrialised Building Systems (SIBS) has invested over RM200 million to set up its second manufacturing facility at the Penang Science Park North in Simpang Ampat. The new plant is located near its first at the Penang Science Park North. SIBS chief executive officer and ... Read More

The Penang Real Estate and Housing Developers Association (REHDA) hopes that the performance of the country's real estate market for 2023 will improve compared to previous years. Penang REHDA chairman Khoo Teck Chong said he expects the real estate market, especially the residential property subsector in Penang, to show positive ... Read More

A homestay owners’ group has joined calls for the Penang government to reconsider the proposed restrictions on short-term rental accommodation in high-rise buildings. The Malaysian Association of Homestay (Short-Term Rental) Practitioners said the restrictions, including a cap of 180 rental days a year, limited options for travellers looking for affordable ... Read More