KUALA LUMPUR: Penang-based property developer Tambun Indah Land Bhd expects higher revenue growth this financial year compared to 2010, due to the sustained property boom in Penang.

Tambun Indah managing director Teh Kiak Seng said it was seeing strong interest in its ongoing projects from the industrial expansion on mainland Penang as well as spillover effect from high demand for residential properties in Penang Island.

The company managed to sell more units in the first half of the year compared to first half of 2010.

Currently, Tambun Indah has several ongoing projects in mainland Penang with total gross development value of RM1.6 billion until 2016, which has positioned it as a leading property developer in Penang.


SOURCE: Business Times

Jazz Residence, strategically located opposite Tesco Tanjung Tokong and within the Sri Tanjung Pinang Millionaire Enclave. Built up area starts from 1,300+ onward.

Location : Seri Tanjung Pinang, Penang
Property Type : Luxury Condominium
Built-up Area: 1,300 sq.ft. onwards
Indicative Price: RM 860,000 onwards
Developer: Sure Commerce Sdn. Bhd.

Nestled amongst the lush greenery and located in the heart of Tanjung Bungah, lies a gem like no other; the ever privately exclusive Permai Gardens; an impressive brainchild from renowned developer – BSG. Crafted brilliantly by reinventing contemporary lifestyle, allowing you access to complete solitude, yet keeping you amidst a like-minded sense of community.

Property Project : Permai Garden @ Permai Village
Location : Tanjung Bungah, Penang
Property Type : 3-storey Terrace & Bungalow
Total Units: 132 (Terrace), 31 (Bungalow)
Indicative Price: RM 1,588,888 onwards
Developer: Boon Siew Group

THE Penang Municipal Council (MPPP) is offering 70 units of the Taman Sri Pinang flats in Sungai Pinang, which were originally allocated for MPPP staff, for sale.

The flats at Block 1 are now open for viewing between 9am and noon until Saturday.

“Potential buyers can come at that time to survey the units,” MPPP councillor Ong Ah Teong said, adding that the flats received the occupation certificate in July 2002.

Ong also said the flats were being sold on a “as it is basis”.

“Buyers have to cover the cost of any repairs themselves,” he said.

The price varies between RM69,350 and RM74,450 for the three-bedroom 650sq ft units.

“The units will be sold via an open tender system to bidders with the highest bid,” Ong said.

He said potential buyers were also required to buy a bank draft worth RM500 and submit it together with their bid in an envelope into a tender box located at Level 3, Komtar.

“Potential buyers need not worry as we will refund them the money if their bid is unsuccessful,” he said.

Interested buyers can get their purchase forms at Level 17 of Komtar from noon till 4pm from now until this Saturday while the closing date for the forms’ submission is at 11am on July 11.

Source: The Star

Phase Three of the RM1mil facelift for the Air Itam market in Penang is scheduled to begin next month.

Air Itam assemblyman Wong Hon Wai said this phase involved the upgrading of six stalls for poultry.

“In the first two phases which ended last month, 20 sundry goods stalls, 25 fish stalls, 18 tofu stalls and 12 stalls from the pork section have already been given a facelift,” he told reporters at the market.

He added that the upgrading included improvements on the lighting and drainage systems, and new tiles on the walls.

“The new stalls are equipped with roller shutters and their own water supply,” he said, adding that the fourth and final phase would be the upgrading of the vegetable stalls.

“This market was built before World War II and minor upgrades were carried out over the years. The entire facelift project is expected to be completed by the end of this year,” he said.

He said the new public toilets at the market were expected to be completed next month.

It was reported in January last year that the Air Itam market was among five markets earmarked for upgrading works under the Penang Municipal Council’s 2010 budget.

The other markets in the upgrading programme are those in Cecil Street, Jelutong, Batu Maung and Pulau Tikus.

Wong also said that the RM27,000 resurfacing works on two roads in Air Itam — the road leading to Kampung Pisang and another road in Happy Valley (Taman Lembah Ria) — were completed two weeks ago.

On another matter, Wong urged the Domestic Trade, Co-operatives and Consumerism Ministry to get to the root cause of the rising price of fish instead of issuing notices to traders who had increased the price.

It was reported on Friday that three fishmongers accused of profiteering had each been served with a notice by the state Domestic Trade, Co-operatives and Consumerism enforcement division, under the newly-implemented Price Control and Anti-Profiteering Act 2011.

Source: The Star