Here we go again with our top 10 most popular projects in the first half of 2023. This list represents the developments that have captured the most attention and interest from our visitors, based on their page views.

A notable observation is that seven out of the ten projects listed are new additions in 2023, indicating a growing interest in recently launched developments compared to the top-viewed projects from the previous year.

Maldives Residences

Maldives Residences, yet another 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. Other neighboring housing schemes include Tree Sparina, The Amarene, Summerskye Residences, ...

Foreshore Residence

Foreshore Residence, a mixed development by Tanjung Villa Development Sdn. Bhd. (a subsidiary of Tah Wah Group) in the heart of George Town. Strategically located along Tun Dr. Lim Chong Eu Expressway, adjacent to Sandilands Condominium. It is only about 5 minutes drive to Penang Bridge, with an abundance of ...

Codrington Residence

Codrington Residence, a luxury residential development within the upscale neighborhood of Pulau Tikus. Undertaken by Primary Spectra Development Sdn. Bhd., the proposed project will be located along Lebuhraya Codrington (Codrington Ave), opposite the junction of Jalan Yeoh Guan Seok. It is just a stone's throw away from Moulmein Rise by Belleview ...

Mandarin Residence

Mandarin Residence is an affordable housing development by Focal Products Sdn. Bhd. at Farlim in Penang. Located at the intersection of Jalan Teochew Satu and Jalan Thean Teik, next to Hui Aun Apartment. It is only 1km away from Sunshine Central. It's conveniently situated just a stone's throw away from Thean Teik Highway, ...

Ideal Venice Residency

Ideal Venice Residency, the second phase of PR1MA affordable housing development by Ideal Property Group at Island Glades. Strategically located near the intersection of Jalan Bukit Gambir and Jalan Lembah, next to Ideal Residency. It's just a stone's throw away from University Science Malaysia (USM), about 5 minutes drive to Penang Bridge. This development ...

The Pier

The Pier, yet another mixed development by Asia Green Group within the vicinity of Bayan Mutiara. It is strategically located along Tun Dr. Lim Chong Eu Expressway, a short drive from Penang Bridge's Bayan Lepas bound exit on the Island. Adjacent to The Zen development, this project was formerly known as ...

Arica @ Andaman

E&O's second serviced residence project at Andaman, Arica Executive Homes, follows the successful sales of The Meg, which is now fully sold out. Positioned adjacent to The Meg, Arica boasts similar benefits of convenient access to various commercial amenities in the future such as workplaces, educational institutions, hospitality, healthcare, wellness ...

Setia Miracca

Setia Mericca, an affordable housing development by Kay Pride Sdn. Bhd. (a subsidiary of S P Setia) near Bayan Lepas. Strategically located on 2.7 acres of land along Jalan Teluk Kumbar, next to Pavilion Resort condominium. This development is just a stone's throw away from Penang International Airport with an ...

Sunway Dora

Sunway Dora is a mixed development by Sunway Property in the established township of Bayan Baru. The project is located on a 1.6-acre land along Persiaran Mahsuri 1, within the vicinity of Bandar Sunway Tunas. It is only a stone’s throw away from Olive Tree Hotel and SPICE Convention Centre, and ...

The Skyline

The Skyline, yet another residential development by PLB Land at Paya Terubong. Part of the Skynet City township development located along Jalan Paya Terubong. It is adjacent to Majestic Heights, just a stone's throw away from the new Jalan Bukit Kukus paired road. This 34-storey condominium development will consist of 290 ...

Situated next to the fringe of Gurney Drive, the Gurney Bay project (formerly known as Gurney Wharf) is transforming into an enchanting seafront public park.

The project, scheduled to be completed in 2025, seems to come to life with each passing day.

Caretaker Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the implementation of the Gurney Bay project was on schedule, with Phase One or Priority 1 of the project, expected to be open to the public this month.

“Tentatively, we look forward to opening the Phase One this month. We will make sure it happens, if not as soon as possible.

“What is most important is the delivery of service to the people,” he told reporters after inspecting Gurney Bay today.

Jagdeep said there would be ample parking space once the entire project is completed.

Pushing for the state’s Green Agenda 2030, Jagdeep said he was looking forward to having some 10,000 trees planted at Gurney Bay.

“We will ensure that the Penang Green Agenda 2030 is complemented by the Gurney Bay project,” he said.

The Gurney Bay project, which started in 2016, is being built on reclaimed land off Gurney Drive.

The project is divided into Priority 1 and Priority 2.

Priority 1 consists of the following components, namely children’s play area, skate park, viewing deck (south vantage point), public toilets, promenade for pedestrians, hawker stalls, retail areas and recreation park, hawker kiosks, open car park space, and water body (south) reclamation area.

Meanwhile, Priority 2 consists of a hawker centre, retail area, convenience stores, viewing deck (north), public toilets, kiosks for additional hawkers, multi-storey car park, open car park, water garden, surau, jetty for water taxis, a man-made beach and boardwalk, refuse centre, water body (north) and many more.

Source: Buletin Mutiara

Lack of decision-making based on actionable data has contributed to overhang and vacancy issues in Malaysia’s property market, said a property market observer.

“Every stakeholder has a different view and motivation on which housing projects get built, and where. But no one really looks at data when making such decisions,” said Cha-Ly Koh, CEO and founder of Urbanmetry Sdn Bhd.

Urbanmetry uses big data to better inform developers in planning and developing sustainable urban dwellings.

One pertinent challenge, Koh said, is how to integrate the data into decisions regarding township and housing development projects.

“For example, if data indicates that a particular area is prone to flooding, the authorities may still proceed with the township’s development. So, what’s the point of having such data?” she said.

Koh said data, regardless of its complexity, is only meaningful if taken into consideration in the decision-making process.

If the data is important to the environment or it shows that there is an oversupply of low-cost housing in a specific area, the problem will persist if the local government ignores it, she said.

Recently, local government development minister Nga Kor Ming said the government will develop a housing data centre, using big data analytics, as a centralised reference source for housing development.

He said the ministry will use the data to assess the causes of mismatch in supply and demand that has led to the high number of unsold houses.

In a written reply in the Dewan Rakyat on May 24, Nga said there were 27,746 residential units worth RM18.45 billion that have been completed but have yet to be sold at the end of last year.

A total of 9,323 unsold units are priced between RM500,001 and RM1 million.

Prevent market failures

Singapore’s Urban Redevelopment Authority (URA) and the Housing Development Board (HDB) provide good examples of data-driven decision-making in relation to the housing market.

“In Singapore, the URA and the HDB monitor data diligently to detect any sign of overheating of the property market,” Koh said.

“Once they detect signs of overheating, the government will take the necessary measures to cool the property market.”

The island republic did just that in April by raising the additional buyers stamp duty (ABSD).

Under the revised scheme, foreigners buying any residential property are required to pay 60% of the property value in stamp duty, up from 30% previously.

Singapore citizens who buy a second or subsequent property have to pay 20% to 30% in ABSD, up from 17% to 25% previously.

On the other hand, local councils in Malaysia lack the expertise and capacity to conduct a similar level of data-tracking.

“Local councils (in Malaysia) are involved mainly in municipal concerns such as drainage, parking, and similar issues,” Koh said.

New housing approach

The government’s way to ensure adequate supplies of affordable homes is to launch more fully funded or subsidised projects without consideration for location, accessibility and amenities.

“The government not only builds new units, but also requires property developers to build affordable housing, which eventually props up the prices of private properties due to cross-subsidisation,” Koh said.

Many state governments require property developers to also make room for affordable or low-cost houses in their projects.

“The government needs to realise that building more cheap homes without truly understanding demand will only aggravate the situation,” she said.

Koh pointed out that Malaysia’s home ownership rate of 76.9% as of 2019 is already high according to global standards and questioned whether encouraging its increase is the right policy direction.

Home ownership rates in developed countries are generally lower than in Malaysia. In the US, it is 65.5%, the UK (65.2%), Japan (61.2%), Germany (50.4%) and Switzerland (42.3%).

“Perhaps, not everyone needs to, or should, own homes. What matters is the people can enjoy access to affordable and decent shelter via ownership or renting,” she said.

Source: FMT Online

A newly proposed commercial development by Dunia Binari Sdn. Bhd. in Tanjung Tokong. Strategically located along Jalan Tanjung Tokong, next to the intersection of Jalan Pantai Molek. It is only a 5 minutes walking distance away from Island 88 (formerly known as Island Plaza) and Precinct 10.

This development will involve the demolition of the existing bungalow units to make way for a 48-storey building with two levels of basement. The new building will feature two main components: a hotel with 280 rooms, and a serviced residence with 245 units. Additionally, the building will include a 10-level car parking podium to cater to the parking needs of residents and guests.

The project is still pending approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Tanjung Tokong
Property Type : Commercial
Built-up Size: (to be confirmed)
Land Area: (to be confirmed)
Total Units: 245 (serviced residence), 280 (hotel room)
Indicative Price: (to be confirmed)
Developer: Dunia Binari 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 Green City Residence

A 29-storey luxury development in the heart of George Town by Green City Garden Development Sdn. Bhd. Located on a half-acre land along Macalister Road, it is only 2km away from KOMTAR and less than 15 minutes drive to Penang Bridge.

This project features 52 units of luxury suites and a 100-room hotel. An automated robotic parking system will be built to allow more car parking bays.

Find out more about Green City Residence