Newly proposed affordable housing development by MTT Properties & Development Sdn. Bhd. in Balik Pulau. Located near Jalan Sungai Air Putih, allowing for a convenient short walk to Botanica CT Centre. Additionally, residents will also find other amenities such as Prince of Wales Island International School and Botanica Park within a 5-minute walking distance.

The proposed development will showcase a 16-storey apartment, comprising four levels of car parking podium and a total of 143 affordable homes.

This project is still pending approval. More details to be available during the official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Property Project : (to be confirmed)
Location : Balik Pulau
Property Type : Affordable housing
Total Units: 143
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: MTT Properties & Development 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.

Social media has been abuzz since Wednesday with news about the arrival of four new Penang ferries here.

At a cost of RM18 million each, the four new ferries will be used to carry pedestrians and two-wheelers.

Speaking to the New Straits Times today, Penang Port Sdn Bhd (PPSB) chief executive officer Datuk Sasedharan Vasudevan said they were excited that the the new ferries arrived on schedule.

Construction of the new ferries began in January last year.

“We are indeed glad that the construction and delivery of the new ferries are completed as planned despite the challenges faced, including sourcing for the material and such.

“We received the new ferries yesterday and for the next three weeks, we will be preparing them for public use, scheduled next month,” he said.

According to Sasedharan, PPSB is also preparing the two ferry terminals , with the Pangkalan Raja Tun Uda ferry terminal here expected to be completed by the end of the month.

News of the new ferries first came to light after photos and video footage of one of them were leaked online back in March.

At that time, Sasedharan confirmed that the video was taken at a shipyard in Haiphong, Vietnam.

A ferry service has linked Penang island with Butterworth in the mainland for over 126 years.

In 2020, the use of the iconic double-decker vehicle and passenger ferries stopped and was replaced with speedboat ferry services for passengers.

One of the older ferries is currently being used for bicycles and motorcycles.

Source: NST Online

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia has decided to maintain the Overnight Policy Rate (OPR) at 3% amid global economic challenges.

The committee noted that despite the expansion of the global economy driven by resilient domestic demand and strong labour market conditions, global growth is being hindered by persistent core inflation and higher interest rates.

“While China’s reopening remains supportive of the global economy, its pace of recovery has slowed in recent months. Globally, headline inflation continued to moderate, but core inflation remains above historical averages.

“For most central banks, the monetary policy stance is likely to remain tight. The growth outlook remains subject to downside risks, mainly from a slower momentum in major economies, higher-than-anticipated inflation outturns, an escalation of geopolitical tensions, and a sharp tightening in financial market conditions,” it said in a statement.

The central bank said that at the current OPR level, the monetary policy stance is slightly accommodative and remains supportive of the economy.

“The MPC continues to see limited risks of future financial imbalances. The MPC remains vigilant to ongoing developments, and will continue to monitor incoming data to inform the assessment on the outlook of domestic inflation and growth. The MPC will ensure that the monetary policy stance remains conducive to sustainable economic growth amid price stability,” it added.

Source: TheSunDaily.my

The Foreshore Residence affordable housing project is expected to reach completion by 2026. The development aims to offer 482 affordable housing units ranging in size from 800 to 900sq.ft., along with 321 low-medium cost housing units with a built-up area of 700sq.ft.

During the offer letter handover ceremony held at the construction site of Foreshore Residence, caretaker state Local Government, Housing, Town and Planning Committee chairman Jagdeep Singh Deo highlighted the exceptionally low prices of the affordable housing units in Penang. He emphasized that Penang is the only state that has refrained from increasing prices, unlike other states. The low-medium cost units are priced at RM72,500 each, while the low-cost units are priced at RM42,000 each.

Today, the first group of applicants for the affordable housing project received their offer letters from Jagdeep during the ceremony. Stressing the reasonable pricing of the Foreshore Residence units due to their urban location, Jagdeep assured attendees that the state government will not only announce the project but also supervise its progress until completion.

Jagdeep revealed that the state government’s objective is to construct 220,000 affordable homes of various types by 2030, with over 150,000 units already completed. These units include low-cost, low-medium cost, affordable homes, and rent-to-own housing. However, despite the provision of various affordable housing options, residents continue to encounter challenges regarding bank loan approvals. Jagdeep pledged to personally address this issue with the Prime Minister.

Additionally, former Pengkalan Kota assemblyman Daniel Gooi stated that the former occupants of the land where the Foreshore Residence housing project is being developed will receive compensation in the form of housing units. These occupants are not required to make purchases but will be allocated units as compensation. Gooi urged the concerned parties to promptly contact the developer and complete the affordable home application form (PN1) to facilitate further arrangements.

Cassia Cempaka, a landed residential development by PDC Properties Sdn. Bhd. in Bandar Cassia. Strategically located along Jalan Batu Kawan, neighboring Batu Kawan Police Station and Fire & Rescue Station.  It is about 5km to IKEA, and less than 10 minute’s drive to Penang Second Bridge and Batu Kawan Industrial Park (BKIP).

The project consists of a combination of 2-storey terrace and semi-detached houses. There are 42 units of 2-storey terrace houses available, with prices ranging from RM625,320 to RM766,810. Additionally, there are 16 units of 2-storey semi-detached houses, with prices ranging from RM870,140 to RM1,002,430.

Related project:

• Cassia Cempaka Phase 2

Project Name: Cassia Cempaka
Location : Bandar Cassia, Batu Kawan
Property Type : Residential
Built-up Size: 1,658 sq.ft. onwards (terrace), 1,982sq.ft. (semi-d)
Land Area: 22′ x 66′ (terrace), 26′ x 67′ (semi-d)
Total Units: 42 (terrace), 16 (semi-detached)
Land Tenure: Freehold
Indicative Price : RM625,320 onwards (terrace), RM870,140 onwards (semi-d)
Developer: PDC Properties Sdn. Bhd.

SITE PROGRESS

SITE PROGRESS: Cassia Cempaka (Dec 2024)

SITE PROGRESS: Cassia Cempaka (July 2024)

 
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.