Executive Chairman of Ideal Property Group, Tan Sri Datuk Alex Ooi Kee Liang promotes creativity, community engagement, and appreciation for the art of photography through My Ideal Homes 6.0 photo contest.

Ideal Property Group, a leading property developer in Malaysia, is pleased to announce the launch of its latest photography contest, ‘My Ideal Homes 6.0’. The contest aims to encourage the public to capture and share their experiences at Ideal Property Group’s developments in Malaysia.

The contest, which runs from now until June 3, 2023, invites participants to submit their best photos under two categories, namely Architecture Charm and Drone Shot. Entries will be judged according to adherence to the theme, uniqueness, originality, and creativity.

Ideal Property Group has set aside RM16,000 in cash prizes for the winners, with a total of 8 consolation prizes up for grabs. The grand prize is RM3,000, second prize is RM2,000, and third prize is RM1,000.

“Through this photography contest, we hope to showcase the beauty and uniqueness of our developments while encouraging people to explore and appreciate them,” said Tan Sri Datuk Alex Ooi Kee Liang, Executive Chairman of Ideal Property Group.

Participation in the contest is simple and free. There is no limit to the number of submissions under each category, but each contestant is only allowed to win one prize. To enter the contest, participants to follow Ideal Property Group’s Facebook page and Instagram, snap some photos at Ideal Property Group developments, and submit their best photos to Ideal Property Group’s office at Bayan Lepas with both a print and a softcopy.

“We are excited to see the creative and unique photos that participants will capture. We encourage everyone, including our residents, to take part in the contest and stand a chance to win some fabulous cash prizes,” added Tan Sri Ooi Kee Liang.

The newly constructed seven-storey carpark at Penang International Airport (PIA) opens to the public on 1 April after obtaining the certificate of completion and compliance (CCC) from the relevant authorities.

Malaysia Airports Holdings Bhd (MAHB) managing director, Datuk Iskandar Mizal Mahmood said the new multi-storey carpark is anticipated to improve parking problems at PIA.

“We have been receiving numerous complaints about the congestion. Therefore, we are very pleased that we are now able to address the situation,” he said in a statement here today.

Iskandar Mizal said the new facility is able to provide 1,742 parking bays including 22 for the disabled, and 660 bays for motorcycles.

The facility is equipped with automatic plate number recognition and car finder application kiosk so that users can easily locate their cars.

Iskandar Mizal said the development of this facility was also in line with the airport’s future expansion plans and the first phase which is expected to commence soon would see the airport capacity increased to 12 million passengers per annum (MPPA) from 6.5 MPPA currently.

Source: Bernama

Proposed landed residential development by Venice Build Sdn. Bhd. at Bukit Tengah. Located along Jalan Pengkalan with direct access from Jalan Bukit Tengah, opposite the gated community of Pegasus Residence. It is only about 1km to Bukit Tengah roundabout, about 10 minutes drive to Penang Bridge.

This development will involve the construction of 28 units of 2-storey semi-detached houses and 105 units of terrace houses. Several abandoned buildings within the area (formerly known as Taman Krystal Park) will be restored as part of this project.

Currently, the project is still in its planning stage and is awaiting approval. Further details will be made available upon the official launch of the project.

Project Name: (to be confirmed)
Location: Bukit Tengah
Property Type: Residential
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units: 28 (semi-detached), 105 (terrace)
Indicative Price: (to be confirmed)
Developer: Venice Build 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.

Improvements to the Housing Credit Guarantee Scheme (HCGS) under the Budget 2023 through the increase of financing funds and expanding the qualification of applicants to fixed income groups can help reduce the number of unsold low- and medium-cost houses.

Economic expert Jain Yassin said the scheme, which offers financing up to RM400,000, will bring cheer to fixed and variable income groups who wish to own their first home before the age of 35.

“With the amount of financing, buyers can get a comfortable home even if it is further away from the city centre and it is something healthy for the industry as many homes within the range of financing can be sold,” he told Bernama as a comment on Prime Minister Datuk Seri Anwar Ibrahim’s announcement in Dewan Negara on Wednesday that the scheme would expand to include both income categories and benefit the B40 and M40 groups.

The government had announced during the Budget 2023 on February 24 that the scheme would be improved by raising financing funds from RM3 billion to RM5 billion to help first-time housebyers, especially those with variable income.

According to a report issued by the National Property Information centre, there are 10,901 properties under RM400,000 that have been built but are unsold at the fourth quarter of last year.

Jain also said that the government needs to have a risk assessment on the possible consequences of its implementation as the country should learn from the property overhang that occurred in the United States in 2008.

The Universiti Teknologi Mara (UiTM) Sabah Management and Business Faculty senior lecturer added that the US at the time loosened housing loan conditions but many foreclosures occurred as buyers were unable to fulfil their repayments, forcing the government to use additional funds to solve resulting problems.

“Even though generally the scheme is different as there is a company appointed to manage the financing process with tighter vetting, while in the US, the banks were giving out loans directly, the implications might be similar,” he said.

Meanwhile, private sector employee Zaharah Adnan, 35, who is on a fixed income, said the initiative was good for him as he had long dreamt of owning a home in the capital but did not have enough financially for a deposit.

“Not everyone has a high salary while starting off, and due to many commitments, I find it hard to save. With savings of only RM100 a month, it’s quite hard for me to realise my dreams of owning a home because I can’t save enough for the deposit,” he said.

Based on information on the HCGS website, those who qualify for financing need only pay a mandatory deposit equivalent to three monthly instalments, way lower than the 10 per cent of purchase price set previously.

For e-hailing driver Mohammed Khairul Ali, 33, the main obstacle for people like him from owning a home would be to obtain a bank loan as he would not qualify thanks to the lack of payslips and other documents.

“Don’t even talk about housing loans, even vehicle loans and personal loans are hard. So if the scheme will help solve this issue, then it will be a great help for people like me,” he added.

Source: Bernama

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