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

Waking up to the panorama of the whole Bukit Mertajam township, Maya Inti Sdn. Bhd. Offers you exclusivity and security in a low-density luxury serviced suite strategically located off Jalan Song Ban Kheng, adjacent to Casa Residence and Pusat Perniagaan Casa Residensi developed by the Jayamas Property Group. It’s approximately a 10-minute drive from Penang Bridge, Icon City and Auto City.

Maya Residensi serviced suite is thoughtfully designed with love and aspiration for its dual-key unit as well as pet-friendly residences. Jayamas Property Group has the vision to provide luxury living at economical prices by providing Electronic Car (EV) charges on its multi-level car parking bays.

This development comprises a 20-storey serviced suite, featuring 213 units of residential suites with unit sizes ranging from 777 sq.ft. to 1,187 sq.ft.

Property Project : Maya Residensi
Location : Jalan Song Ban Kheng, Bukit Mertajam
Property Type : Serviced apartment
Built-up Area: 777 sq.ft. – 1,187 sq.ft.
Total Units : 213
Land Tenure: Freehold
Indicative Price: RM368,000 onwards
Developer: Maya Inti Sdn. Bhd. (Jayamas Property Group)

Enovix Corporation, an advanced silicon battery company, will establish its first high-volume manufacturing facility in Penang, marking a significant milestone in the company’s global expansion strategy.

The company’s investment plan was disclosed by Prime Minister Datuk Seri Anwar Ibrahim following a one-on-one meeting held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit here yesterday.

Enovix will invest RM5.8 billion (USD1.2 billion) in Malaysia over a period of 15 years. The amount includes the first manufacturing line costing RM315 million (USD70 million), which will co-partner with YBS International Berhad.

Present at the meeting were Minister of Investment and Trade Tengku Datuk Seri Zafrul Abdul Aziz, Chief Operating Officer of Enovix Ajay Marathe and chief executive of the Malaysian Investment Development Authority (MIDA) Datuk Wira Arham Abdul Rahman.

Zafrul said Enovix’s strategic decision to establish its first high-volume manufacturing facility in Malaysia signified Malaysia’s appeal as a preferred investment destination in Southeast Asia for advanced technology companies.

He said Enovix’s establishment of its hi-tech battery technology facility in Malaysia was in perfect alignment with the New Industrial Master Plan (NIMP) 2030, and promises significant local spillover impact.

This includes the creation of substantial high-quality job opportunities for Malaysians, and the enhancement of the country’s industrial landscape.

“We are pleased by Enovix’s dedication to Malaysia…their presence in our country will act as a catalyst for nurturing mutually advantageous partnerships with local stakeholders, especially in the battery technology industry.

“As Enovix lays down its foundations in Malaysia, we foresee its transformation into a key industry collaborator and contributor to our economic progress and development.

“Enovix’s investment in Malaysia is a testament to the company’s trust in our capabilities and workforce, and fortifies Malaysia’s R&D ecosystem,” he said.

Meanwhile, Marathe said the company’s decision to choose Malaysia for its first high-volume manufacturing facility was an easy one.

“Malaysia’s deep pool of technical talent, business-friendly environment and close proximity to our vendors and our customers’ manufacturing facilities, makes it an ideal location for us to help develop the battery supply chain ecosystem and manufacture and scale our next-generation batteries,” he said.

Enovix is headquartered in the United States with locations in India, Korea and Malaysia.

Enovix’s battery technology application extends to IoT, mobile, computing devices and vehicle.

Enovix Malaysia Sdn. Bhd is currently in the process of machinery installation and is projected to initiate full operations by April next year.

Source: NST Online

In a bid to further stimulate the housing industry on the mainland, the Penang government is looking at standardising the plot ratio and density for housing development.

At present, the plot ratio for development projects statewide, depending on the type of project and location, is between 2.8 and 3.5.

A plot ratio of 2.8 will allow developers to build 176 units of apartments with the size of 700 sq ft each on a one acre plot of land while a plot ratio of 3.5 will allow 220 units of apartments of the same size to be built.

Housing development on the mainland has a lower plot ratio and density.

State Housing Committee chairman Datuk Seri S. Sundarajoo said that by offering almost similar plot ratio and density on the mainland, many developers would rush there to build houses.

“This will certainly attract more developments on the mainland and boost the housing industry there.

“The mainland is certainly on an expansion mode and I am bullish about that fact,” he told newsmen here today.

Elaborating, Sundarajoo said the state government hoped to spruce up development activities on the mainland.

“And to do that, we need to make changes to existing policies,” he added.

He was met after announcing the 8th Malaysian Secondary and Primary Property Exhibition (MASPEX) 2023 from Dec 7 until Dec 10 here, after a three-year hiatus.

MASPEX 2023, organised by the Malaysian Institute of Estate Agents (MIEA), is the paramount platform for real estate practitioners, presenting various sub-sales property listings and new projects to the public.

This year’s edition boasts 24 booths, showcasing over 3,000 properties worth more than RM2 billion from multiple real estate agencies.

Visitors will have an extensive choice of property types across different price brackets and locations, including homes from RM250,000 to over RM1 million.

Meanwhile, Sundarajoo said that the state government Sundarajoo would also consider MIEA’s request to lift the 2 per cent levy imposed on the sale of all properties sold by non-citizens and citizens alike within three years of the date of the sales and purchase agreement; this levy is applicable only to affordable housing.

He said the state government would also consider a request to lift up or waive the foreign purchase levy of 1.5 per cent and three per cent.

Source: NST Online

Moving into a new home can be one of life’s greatest joys.

K. Leelavathi has been living at Mahsuri Flats in Bayan Baru, Penang, since 1990 and is looking forward to moving into better housing.

The flats have been slated as one of five urban regeneration projects (URP) in Penang.

“It is good that the flats will be redeveloped, as the walls are cracked and the pipes are leaking.

“Water leaks into my unit from the ones above and my walls are damp.

“Rebuilding this place will provide us with more space and better facilities.

“I welcome redevelopment as long as I am given a unit in lieu of my present one,” she said.

Leelavathi bought her 500sq ft, two-bedroom unit for RM19,500 in the 1980s.

“When we first moved here, it looked like a jungle. But now there is plenty of development.

“My husband passed away years ago and I now live here with my son.

“To make ends meet, I do some tailoring at home.

“With more space, I could have a room where I could do my work,” she added.

Mahsuri Flats Residents Association chairman Fatimah Sayed said she was looking forward to having a bigger living space and permanent parking spot.

“The walls have cracked and it is visible enough to worry us.

“The cracks came about due to renovation by unit owners, which damaged other parts of the building.

“There is water leakage and moisture seeps through the walls,” she said.

To solve the problem of land scarcity in Penang, especially on the island, the state had identified regeneration of existing housing schemes and introduced the URP.

It was earlier reported that Mahsuri Flats in Bayan Baru would be the first to be rejuvenated under the URP in Penang.

A ground-breaking ceremony was held at the site in June.

Construction of the first phase is scheduled to begin by the second quarter of next year, with project completion expected in 2028.

Some 240 families living in the five-block, five-storey flats comprising 300 units, are expected to benefit.

It is part of the Penang Housing Board Master Plan 2021-2025, which consists of 14 projects, five URP and nine affordable housing programmes.

It was reported that Phase One would consist of 300 units while work on Phase Two will start in 2027 and is expected to be completed in 2032.

Penang Chief Minister Chow Kon Yeow had said that inhabitants of Mahsuri Flats would receive new units measuring 850sq ft with three bedrooms and two bathrooms.

Existing units measure between 250sq ft and 500sq ft.

He had also said that the URP was part of Penang2030 Vision to meet the people’s needs for conducive and comfortable housing.

Retiree Faridah Hussian, who has lived in one of the blocks at Taman Free School Flats since 1983, said moving in and out during and after the construction period would be troublesome.

“Most of us are old and have been living here for ages.

“To relocate while it is being rebuilt and to return once the flats are rebuilt will definitely take a toll on us.

“I am a widow who babysits, so my income is limited.”

She said they were told that they would be given bigger, better units once the structures were rebuilt.

“I hope we do not have to eventually pay or top up for certain things like parking or the unit itself.

“We are only paying a nominal amount in current maintenance fees, so I am able to manage.

“But once they rebuild the project and offer facilities like a swimming pool, I am sure they will charge us more.

“I don’t think most of us will be able to pay the higher fees.

“I also doubt we will be making use of those facilities as much as others,” she added.

Faridah said with the location being strategic and Penang Hospital nearby, Taman Free School Flats had always been a great place to live.

“When I retired, I spent my savings on renovating my flat.

“I do know some residents have piping issues such as water leakage but those things can be fixed.

“I sometimes worry about how things will change as there will be more residents and there may be parking problems too.

“Most of us here are old and get along well.

“We are close and look out for each other. I worry that we will lose that camaraderie,” she added.

Source: TheStar.com.my