The rise in housing prices in Penang correlates with the growth in household income, Datuk Seri Sundarajoo Somu (PH-Perai) said.

Replying to an oral question posed by Muhammad Fauzi Yusoff (PN-Sungai Dua) during the State Legislative Assembly yesterday, Sundarajoo, a first-term assemblyman, substantiated his claim with the data reported in the Property Market Report in the second quarter of this year.

“Based on the information from the National Property Information Centre (NAPIC), only 502 out of 2,901 units, equivalent to 17.3%, remain unsold in the state. The unsold houses, priced at RM300,000 and below, are primarily due to unapproved loans from financial institutions.

“In addition, the Real Estate Sector Stimulus Policy and the Home Ownership Campaign (HOC) initiated by the state have yielded positive results for the market.

“Through these policies, maximum housing prices have been reduced by 10%, with affordable housing on Penang island and Seberang Perai now priced at RM270,000 and RM225,000 respectively.

“Our initiatives have enabled the people of Penang to become homeowners,” he explained.

Sundarajoo pointed out the state still maintains control over the ceiling prices for affordable housing, capping it at RM300,000, despite other states in the country having raised their housing prices.

“We are currently working on introducing a new housing category for the B2 families. The targeted price meant for this category is RM100,000, specifically tailored for the youths with a total household of RM5,000,” he added.

The following are the types of affordable housing units in Penang along with their control prices:

• RMM A – 650sq ft (RM42,000)
• RMM B – 750sq ft (RM72,500)
• RMM C1 – 750sq ft with renovation (RM150,000)
• RMM C2 – 800sq ft (RM250,000)
• RMM C3 – 850sq ft (RM300,000)

Source: Buletin Mutiara

The long wait for a more conducive shopping ambience for market-goers in Seberang Jaya, Penang, will be finally over when the new Seberang Jaya Market and Hawker Centre opens to the public in August next year.

Construction of the RM19.5mil building on a 5.05ha land in Jalan Tenggiri began in 2019.

The project, mooted in 2018, is under the Penang Development Corporation.

Upon completion, it will be handed over to Seberang Prai City Council (MBSP) as the owner.

It was reported that there was a delay in construction during the various phases of the movement control order when the country was hit by the Covid-19 pandemic.

Seberang Prai mayor Datuk Azhar Arshad said construction was already in its final stage, with completion expected by Aug 31 next year.

The new building will have 112 wet stalls, 51 dry stalls and 90 booths at its hawker centre.

The new place will also have 220 lots for its street mall section, management office, surau, disabled-friendly toilets, and rubbish depots.

“Another good feature of the new market and hawker centre is the safety aspects, where there will be installation of fences and lighting around the complex compound,” said Azhar.

“It will also feature other disabled-friendly facilities such as ramp, tactile flooring and designated parking for the disabled.

“Those living in Seberang Jaya and the surrounding areas will benefit from the new and latest landmark in the area,” he said.

Source: TheStar.com.my

Penang is set to have the first integrated senior living resort that will be built in Balik Pulau.

It is scheduled to be fully completed in 2026.

The 32-acre project, known as Eden at Botanica CT (EABC), will feature a nursing care residence and a low-density active living resort comprising villas and condominiums in two tower blocks in Botanica.CT, a thriving township in Balik Pulau on Penang island.

The project is a joint venture between Botanica Hills Sdn Bhd (an associate company of MTT Group of Companies) and Eden-On-The-Park Sdn Bhd.

The EABC groundbreaking ceremony was held at Botanica.CT in Balik Pulau today, and was graced by the presence of Penang Governor Tun Ahmad Fuzi Abdul Razak.

MTT Group of Companies executive chairman Datuk Seri Kenny Ong said EABC is set to redefine the concept of senior living by seamlessly integrating nursing care residence and active living apartments.

“EABC features active living apartments tailored for the increasing population of self-sufficient seniors who require no assistance in daily activities. Additionally, the facility accommodates individuals who, while largely independent, may benefit from some assistance.

“In addition, our nursing care residence provides a supportive environment for senior citizens who, due to increased needs, are no longer able to maintain independent living.

“By seamlessly blending comfort with dedicated care, this integrated resort offers a thoughtfully designed sanctuary for seniors seeking a peaceful and enriching retirement lifestyle.

“Nestled in the serene enclave of Balik Pulau, the development ensures residents can enjoy the charm of nature while still having convenient access to urban amenities,” Ong said in his speech before participating in the groundbreaking ceremony today.

Also present were Balik Pulau MP Datuk Muhammad Bakhtiar Wan Chik and Eden-On-The-Park Sdn Bhd founder and managing director Victor Fong.

Ong emphasised that EABC was committed to cultivating a comprehensive environment fostering physical, emotional, and social well-being.

“Featuring a diverse range of wellness and recreational facilities along with daily senior-centric activities, residents have the opportunity to actively participate in endeavours that promote an active lifestyle, foster social connections, and encourage personal growth.

“This resort-style community ensures that each day is brimming with purpose and enjoyment,” he added.

It is understood that EABC’s active living apartments provide an exclusive, low-density residential experience, comprising 350 units across Tower A and Tower B.

These residences, ranging from 771 sq ft to 1,449 sq ft, feature diverse one to three-bedroom layouts.

The Care Residence introduces a visionary concept centred on personalised care services for seniors and the broader community.

This distinguished care model integrates the highest Australian Standard Operating Procedures (SOPs), thoughtfully adjusted to align with local nuances.

Source: Buletin Mutiara

A proposed commercial development by SA Marvel Sdn. Bhd. in Simpang Ampat. Situated strategically along the Federal Route 1 at the intersection of Jalan Perdana. The proposed site is in close proximity to the Northern Lights Private School (NLPS) and the under-construction RITZE Perdana residential scheme, both developed by the same company. Additionally, it is less than 3km from Iconic Point and Bandar Tasek Mutiara (Pearl City).

This development will include a commercial precinct featuring both semi-detached and detached commercial lots.

• 2-storey semi-detached (22 units)
• 2-storey detached (2 units)
• 4-storey detached (1 unit)

The project is currently in the planning stage, and additional details will be provided upon its official launch.

Project Name : (to be confirmed)
Location : Simpang Ampat
Property Type : Commerical
Tenure : Freehold
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units : 22 (semi-detached), 3 (detached)
Indicative Price: (to be confirmed)
Developer : SA Marvel Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

About Maldives Residences

A residential development by Ideal Property Group at Bayan Lepas. Strategically located along Jalan Sungai Tiram 6, just across the road from Havana Beach Residences. It is conveniently connected to Jalan Tun Dr Awang, less than 2km away from Penang International Airport. This development comprises 46-storey building with 4 residential towers. It features a mix of affordable and upgraded units, with a built-up size of 850sq.ft. onwards.

Find out more about Maldives Residences