PR1MA and Ideal to jointly affordable housing at Gelugor

January 22nd, 2020 2 comments

Picture for illustration only

Ideal United Bintang International Bhd’s wholly-owned subsidiary Ideal Capital Venture Sdn Bhd had today signed a head of terms with PR1MA Corp Malaysia to jointly develop RM828.6 million worth of properties at Penang’s Bandar Gelugor.

In a statement to Bursa Malaysia today, Ideal United said Ideal Capital and PR1MA plans to develop some 6.5ha (about 16.24 acres) of land comprising two tracts at Bandar Gelugor.

“This development is expected to contribute positively towards the revenue and earnings of Ideal (United) in accordance with the stage of progress to be recognised over the next three to five financial years.

“The development does not entail different risks other than those applying to the existing business of Ideal (United), being property development which includes, inter alia, general business risks in relation to the industry, impact of government policies and regulation on the industry, competition and dependence of key personnel. The company will take necessary steps to mitigate the risks as and when they occur,” Ideal United said.

Find out more about PR1MA @ Bukit Gelugor

Source: EdgeProp.my


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SITE PROGRESS: Forest Ville (Jan 2020)

January 21st, 2020 No comments



About Forest Ville

A twin towers freehold project by Ideal Property Group in Bayan Lepas, Penang. Located on an 11-acre land, the two towers were part of One Foresta affordable housing scheme located along Lengkok Kelicap. It comprises 991 condominium units with size ranging from 1,000 sq.ft. to 1,050 sq.ft. Schools, financial institutions and healthcare facilities are only short drive away.

Find out more about Forest Ville


Ushering a Prosperous Chinese New Year with Property Queen

January 21st, 2020 No comments


Mark your calendars on the 27th January – 2nd February 2020 for the one and only Property Queen Chinese New Year Property Fair 2020 at Queensbay Mall, Gurney Plaza and Sunway Carnival Mall. Now is the right time to shop for the best property in Penang! Don’t miss this golden opportunity and we will see you there!

Property Queen also invited our local radio announcer, Cynthia from 988 to grace the event at Queensbay Mall and Gurney Plaza on the 27th of January 2020. Make sure to drop by and meet her in person! Other than that, there will be a series of activities happening at Queensbay Mall, such as the lion dance performance, 24 festive drums performance, God of Prosperity appearance, mandarin orange give away, mask changing performance and more! Register, Like & Share Property Queen Facebook page and event page to redeem exclusive Property Queen Magazine and eco-friendly straws, while stocks last only!


PHOTOS: Property Queen CNY Expo 2019


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5 blocks of foreign workers’ hostel to be built at Bukit Minyak

January 20th, 2020 No comments


The Penang Development Corporation (PDC) today announced that it would be leasing a piece of 2ha land in Bukit Minyak near Bukit Mertajam to a company to build a foreign workers’ hostel.

Penang Chief Minister Chow Kon Yeow said the RM250 million hostel would primarily cater to the booming Batu Kawan Industrial Park, which is located nearby.

The hostel will be able to accommodate 12,313 people in five blocks, with eight retail outlets on the ground floor and other amenities, he said.

He said the 684-room, 900sq ft/unit project would be undertaken by Biopolis Resources Sdn Bhd who had been granted a 99-year lease by the PDC, the state’s development and investment arm.

The project is now being considered by the Seberang Perai City Council before work can begin and it will take four years to complete.

PDC, in return, will receive rental returns from 42 units worth RM33 million for a 15-year period. The hostel is located at Jalan PSPN 1, Penang Science Park, Bukit Minyak.

foreign-workers-hostelChow said the project was a good example of what a workers’ hostel should be, as more international manufacturers set-up shop in the Batu Kawan Industrial Park.

He said these international manufacturers want a hostel that meets world labour standards, as they were constantly being audited on how they provide for their workers.

“With this hostel, we believe that multinationals could meet human rights standards of the European Union and developed nations,” he said.

Earlier, Chow witnessed the signing of an agreement between the PDC’s general manager Mohd Bazid Abdul Kahar and Biopolis Resources Sdn Bhd’s H’ng Bok Sen.

The project’s proponent and architect Jong East Full said the hostel was designed to be naturally cool with proper ventilation and it had received a Green Building Index silver standard rating.

He said the hostels would be rented out directly to factories or companies seeking accommodation for their workers.

Project Site:

Source: FreeMalaysiaToday.com


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The 2020 Aspenormous by Aspen Group

January 20th, 2020 No comments

The Aspenormous Awesomeness is back, giving you more ONG-NESS than ever for your brand new home! Let’s enter the decade with the Biggest Giveaway Ever with DISCOUNT up to 20% plus REBATE of RM20,000!

Find out more about ASPENORMOUS 2020

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